bank non-compliance charges reveres entry in tally prime if a bank deduct charges for non compliance 23-24 but bank credited all the charges in the month of April 2024 what would be the entry in tally prime
please elabrate
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Tally prime bank non-compliance charges
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In 23-24 your entry for bank charges deducted entry
Payment entry in Tally ( F5)
Bank Charges A/c Dr
Bank A/c Cr
( Bank charges deducted by bank in 23-24 )
In April 24 just pass bank charges reverse entry.
Receipt entry in Tally ( F6)
Bank A/c Dr
To Bank charges ( reverse)
( Being bank charges earlier deducted credit to
account by bank )
Note- Bank charges ( reverse) A/c under indirect income p&L Account.
Payment entry in Tally ( F5)
Bank Charges A/c Dr
Bank A/c Cr
( Bank charges deducted by bank in 23-24 )
In April 24 just pass bank charges reverse entry.
Receipt entry in Tally ( F6)
Bank A/c Dr
To Bank charges ( reverse)
( Being bank charges earlier deducted credit to
account by bank )
Note- Bank charges ( reverse) A/c under indirect income p&L Account.
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