sir if we make purchase and sale for the same pary for the same amount what ad

sir if we make purchase and sale for the same pary for the
same amount what adjusting entry have to be passed to close
that entry in tally. while taking bill wise details we can
see the dr. cr.and have to cancell that

Question Posted / jaikrishnansnair

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sir if we make purchase and sale for the same pary for the same amount what adjusting entry have t..

Answer / nagachandra pattar

That is Not possible in Tally. For all that things u have
to maintain Excell Sheet. In Tally automatically Party A/c
becomes close for same amount purchase & sales. But it is
not possible to close Sales & Purchase A/c by passing J.V.
U have to show all your Purchases & Sales Separately.

Is This Answer Correct ?

13 Yes

2 No

sir if we make purchase and sale for the same pary for the same amount what adjusting entry have t..

Answer / jaikrishnansnair

purchase ac dr 1000
to party 1000

party dr 1000
to sales 1000

jv

sales dr
to purchase

is it true or not.. ??

Is This Answer Correct ?

3 Yes

13 No

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