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Sir
i want
bill payable meeaning,Entryes
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Answer / narender shilak
Bill Payable is a liablility for a business, as this is
issued at the time of purchase of anything from third
party.
| Is This Answer Correct ? | 4 Yes | 1 No |
Answer / madhu poor
1st u pass Jounral Entry in Tally
Dr. Bill Payable......... Amt.
Cr. Bill (Telephone etc.) ...... Amt.
At the time of payable u pass Payment Entry.
Dr. Bill ..........Amt.
Cr. Cash/ Chq (Bank) ........... Amt
| Is This Answer Correct ? | 1 Yes | 3 No |
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PLEASE EXPLAIN DEBIT NOTE & CREDIT NOTE?WITH THE FOLLOWING QUESTION? 1)IF X LTD.SOLD MATERIAL @ RS.112500/-WITH INCLUSIVE VAT @ 12.5% TO HIS SUPPLIER(CREDITOR),BUT AFTERWORD THEY FOUND THAT THE MATERIAL COMES UNDER 5% VAT RATE CATEGORY.SO HOW THEY ADJUST THEIR LOSS RS.7500/- IN THEIR BOOKS? 2)IF X LTD.SOLD MATERIAL @ RS.112500/-WITH INCLUSIVE VAT @ 12.5% TO HIS CUSTOMER(DEBTOR),BUT AFTERWORD THEY FOUND THAT THE MATERIAL COMES UNDER 5% VAT RATE CATEGORY.SO HOW THEY ADJUST THEIR LOSS RS.7500/- IN THEIR BOOKS?
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