Security deposit

Rs.50000/- paid to Company as security deposit what will be the tally entry Also specify under which head ledger a/c should be created.
Replies (1)

Security deposit/Security deposit with CO......    DR.        50000/-

TO Cash/Bank                                          CR                50000/-

 

Under deposits create ledger Security deposit or  Security depositwith CO...........

Security deposit with company..... is much better . in this case u have track that with which company u have deposit and it is easy to understand for users also

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