Interested to Buy Any Domain ? << Click Here >> for more details...
I have paid an advance for a supplier against delivery, Say Rs.500,on 20.2.2010. Later on 3.3.2010, I settle the balance of Rs.1500. How can i account this in tally?
- 7 Answers
- 18444 Views
- I also Faced
- E-Mail Answers
Answer Posted / samir biswal
No .1 - At the time of given advance , we have to pass
entry through payment mode by using F5 Key for the Tally S.W
Ex-
1st step for Ledger Creation - Advane to Supplier A/C
UNDER Current Asset .
2nd Step for Another Ledger Creation - Particular Supplier
A/C Under Advance to Supplier A/c.Then the Entry is
Particular Supplier A/c Dr - 500
To Cash A/C 500
No.2 - At the time of Goods Received , we have to pass an
Entry in J.V by using F7 key of Tally soft ware
That time we have to create another ledger that is
1- Particular Party (cr)A/C Under Current Liablities
2- Particular Goods A/C or Purchase A/C Under Current Asset
or by nature of Goods received .if Such goods comes under
Capital Expenditure then the entry will passed accordingly
Accounting treatment.
Then the entry is passed accordingly
Particular Goods Received A/C Dr 2000
To Particular Party A/C 500
To Particular Party(cr)A/C 1500
3. When we raise payment against the debt.
that time we have to pass the entry by using F5 key of
Tally SoftWare.
Particular Party(cr)A/C Dr 1500
To cash A/C 1500
I have already define it clearly ,if i have any mistake
please inform me
Thanks
Samir
biswal.samir@gmail.com
| Is This Answer Correct ? | 1 Yes | 2 No |
Post New Answer View All Answers
pls let me know double entry of 'LEASING"
how to assign the cost center to GL Account in SAP (FICO)
whether bills of exchnge can come under the category of reserves and surplus
How to make a entry in tally for Land & Building Purchased for RS.1,65,00,000/-(Total Consideration)Paid Installment wise as 30 lakh,10 lakh,20 lakh & 1,30,87,500
What are the steps to take before you approve an invoice for payment?
how to pass journal entries for reverse tax on input tax paid
Explain me the term material facts in accounting?
Mention the types of ledgers?
we are a trading company providing devices and some times after sales service. when any defect came we just replace the hardware from another defective device and getting the payment from the customer. how can we account that? is there any tax implications for this?
what is inter-company transaction? what is Inter-Branch transaction?
What would be the entry at the time of Generating Tution Fee Challan for Advance fees. (e.g In the Month of April, Fees of June and July in being asked to pay by school to their students?,
Do you know what is project implementation?
What is the dual aspect concept?
how to solve cashbook question
what is the D.V.T. rate from 1/10/2009
