Dear Sir/ Ma'am,
I'm new to this fourm and new to tally as well. i have been assinged for tally work recently. i need your valuble support.
My question: if i want to book oustanding expenses in tally for example: the invoice is made in Jan month and payment will be done in Feb in this regards what entry i should pass.
please assist on the same.
Many thanks.
Best Regards,
Anitha
Step - 1
Accrual Entry to be passed in the month of Jan 2015 for expenses
Gateway of Tally -> Accounting Vouchers -> F7 and pass below entry
Step - 2
Payment Entry to be passed in the month of Feb 2015 for payment
Gateway of Tally -> Accounting Vouchers -> F5 and pass below entry
Hope this will help out.
If you have to pass outstanding expense entry at the month end entry would be like :
Press "F7" - Journal entry
i) If salary is payable
on 31/01/2015
Salary A/c will be debit 20,000
To Salary Payable 20,000
(Being salary payable for the month of Jan'15 to XXX)
Like this you can pass other outstanding entry.
CAclubindia
