What is the entry for payment made to the distributor after
deducting TDS and adjusting the credit note raised by them.
For Ex: actual amount to pay rs.1000
TDS deducted rs.200
credit note of rs.500
Answers were Sorted based on User's Feedback
Answer / rajesh
Hai Here u go!!!
First Credit Entry
1) DR XXX ( Expenses Debit ) -Rs.1000/-.
CR party name -Rs.1000/-.
2) Credit Not Issued by them
Dr party name -Rs.500/-.
Cr XXX ( Expenses ) -Rs.500/-.
3) Now Payment
Dr party name - Rs.500/-.
CR TDS Deducted (or)Payable -Rs.200/-.
CR Cash or Bank -Rs.300/-.
Is This Answer Correct ? | 5 Yes | 1 No |
Answer / pravin pawar
First Credit Entry
1) DR XXX ( Expenses Debit ) -Rs.1000/-.
CR party name -Rs.1000/-.
2) Credit Not Issued by them
Dr party name -Rs.500/-.
Cr XXX ( Expenses ) -Rs.500/-.
3) Now Payment
Dr party name - Rs.500/-.
CR TDS Deducted (or)Payable -Rs.100/-.
CR Cash or Bank -Rs.400/-.
Is This Answer Correct ? | 1 Yes | 0 No |
what is reconsilation@
5 Answers ADP, Infosys, Xchanging,
what is demand?
EXPAND_________SEB
journal entry for depreciation
Expand C & F Agent
What z d diff of accounting principle,accounting standard,accounting rules,accounting procedures,accounting concepts??????
what is MIGO and MIRO ?
what mean rtgs & nfts
i received cheque from the customer and deposited in bank please tell me the both entries in tally
2 Answers Shivani Agriculture,
what is securities?
tell me about accounting
EXPAND______________RAC