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Rizwan Sayeed (Accountant)     03 May 2014

Tally enteries

I am handling account which a function hall

Question 1.they reg. with luxury tax

2. if some one book the hall Pay advance 7000.00 How should i take that entry in which head of account of tally 3.when actual bill raise at the time of function including the luxury tax (to pay the tax ) How should i take that entry in which head of account of tally

 Note :They need the Receipt and payment format statement during year only


 



 1 Replies

Rama chary Rachakonda

Rama chary Rachakonda (Master in Accounts & Lawyer email ID:ramachary64@gmail.com voice no:9989324294)     03 May 2014

For advance received amount. Enter into debit side(receipt side) account head as Advances:- When actual receipts incurred minus from advances from the same head.put the actual receipt as income in income side in income & expenditure side.Income side the account head will be rent received 


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