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I have received a cheque from customer and i deposited into
the bank next 4-5 days cheque has been bounced by the bank.
Pls tell me what is reverce entry in the tally for cheque
bounced and which option i will enter in journal or payment
entry.
Salary . is it direct exp or indrect exp.
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Answer / sankaranarayanan
when u have received a cheque from the customer, what entry u have passed.
Bank A/c Dr xxxx
Party Name A/c xxxx
(When u received from the customer).
If the cheque is returned then reverse
Party name A/c xxx
Bank A/c xxx
If the receipt is not posted in Income a/c.
| Is This Answer Correct ? | 128 Yes | 10 No |
Answer / gkavitha
For Cheque returns JV has to be passed as bank account has
to be credited and party account has to be debited .
and Salaries are indirect exp
| Is This Answer Correct ? | 63 Yes | 9 No |
Answer / pushpal bhattacharya
When you received the cheque (for amount Rs.X) from
Customer, you must have entered the following Receipt:
Credit: Party A/c Rs.X
Debit: Bank A/c Rs.X
When the cheque has bounced, bank must have charged Rs.Y (as
Bank charges), which need to be recovered from the Party.
For this, you need to have a separate ledger "Bank
Charges"(under Indirect Expenses). Then pass the following 2
entries in Tally:
(a) Pass a Journal Voucher as follows:
Debit: Party A/c Rs.(X+Y)
Credit: Bank A/c Rs.X
Credit: Bank Charges Rs.Y
(b) Then, pass a Payment Voucher as follows:
Debit: Bank Charges Rs.Y
Credit: Bank A/c Rs.Y
| Is This Answer Correct ? | 34 Yes | 2 No |
Answer / neeraj
Wages in factory is Direct Expenses,and salary in office staff is Indirect Expenses.
| Is This Answer Correct ? | 31 Yes | 1 No |
Answer / akhila .t.p
Salary is an indirect expense and wages is a direct expense.That's why wages shown on the debit side of the trading a/c, and salary shown on the debit side of the p/l a/c.
| Is This Answer Correct ? | 15 Yes | 0 No |
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