Tally entries

Pass entry  in Advance  receipt  voucher 

 Bank   A/c                                             Dr       30000/- 

To  Fees  Received in Advance   A/c    Cr                         30000/- 

(Being fees received in Advance ) 

Fees  received in Advance account  A/c ,  in current  liability side in Balance sheet ) 

Next   year  Adjustment  will be 

Fees  received in Advance  A/c    Dr      30000/- 

To  School  fees                   A/c    Cr                         30000/- 

(  Advance  fees  adjusted ) 

School  fees will be under  Income side of Income & Expenditure  A/c