Whatis the Journal entry for advance payments and advance
receipts from Debtors and creditors

Answer Posted / k. srinivasa rao

when the payment made to creditors, and receipts from
debtors should pass the payment voucher and receipt voucher
only not journal voucher.

when payment made to creditors

creditors a/c.
To Bank/Cash

When receipts received from debtors
Bank/Cash a/c.
To Debtors a/c.

Is This Answer Correct ?    67 Yes 27 No



Post New Answer       View All Answers


Please Help Members By Posting Answers For Below Questions

Pls Explain Accounting Standered 1,3,11,29

2013


Can anybody tell me how much salary m show in my resume for expection for the next job m graduate 2year accounts experience?

1684


What do mean by Computerization of accounts

2219


what do you meant auction? what is F & o segment?

1948


what is the scenario of multi-org setup?

1796






Where to enter bonus and pf esi in tally pls help for me

1659


what are the new rules of central excise ?

1542


What do you know about hyd? Tell something about hyd?

1941


what amounts to appropriation of profits? When provision for taxation does not amount to appropriation of profits?

1888


Please share different type of Z report

1037


Hello Everbody....this saturday i attended the interview of times job fair...were capgemini has called me for technical round ..I am bcom graduate with tally an SAP FICO....Can any body help me ... I wan to know what is this technical round...An what they may ask me ......if any body have question an answer kindly send to my id ..that is damudi123@yahoo.com....or contact me to my number ..+919900410314.Or any body have friends working in capgemini bangalore?Please i need urgent help...thnak you with regards adnan hasan

2083


What is Direct Debit

1816


we are in contraction business, we purchase raw material and paid tax on related material, suppose we want to bill to our party in WCT?

1717


explain sales/purchase accounting?

1879


what are the customization u have done in sap mm

1904