School Accounts. School bus fee receivable ₹10000 but School bus fee received ₹8000. Balance allowed as Discount on school bus fee ₹2000. How to make entry in tally. In tally Receipt Voucher or journal voucher ?
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Tally entries
Replies (7)
Receipt voucher updates receivables received automatically? If that is the case, use journal voucher and it is my favourite because you can modify all accounts. If you have received payments and 2000 is pending, then pass a journal for that amount 2,000₹ to bad debt or discount allowed depending upon your convenience.
Gomes
wrong in case of any receipt bank or cash pass receipt entries.
wrong in case of any receipt bank or cash pass receipt entries.
Mukherji
I learned it from download version so no way to find out what happens after the payment is received. Millions of them don’t know that all transactions are to covered,
Accounting wise, it is possible,
Bank 8000
Bad debt 2000
To Receivables 10000
If it is a conventional sap it will not allow entry of receivables.
All receivables is linked to an invoice.
Unless the receipt is linked to an invoice it will not allow such entry.
If I get a chance, I’ll work in tally if the process involves holistic accounting process which is rare.
I am talking about navasion sap
In receipt voucher
Bank/ cash a/c Dr. . ₹8000
Discount A/c Dr. ₹2000
To School Bus fee Receivable A/c ₹10,000
(i assume you would have passed a JV earlier for School bus fee receivable
i. e- School bus fee receicable A/c Dr. ₹10,000
. . . . . To particular student/class A/c ₹10,000)
Bank/ cash a/c Dr. . ₹8000
Discount A/c Dr. ₹2000
To School Bus fee Receivable A/c ₹10,000
(i assume you would have passed a JV earlier for School bus fee receivable
i. e- School bus fee receicable A/c Dr. ₹10,000
. . . . . To particular student/class A/c ₹10,000)
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