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If A Company pays amount thru bank for a supplier deducting
tds on behalf of B company.
Accounting entries to be made in company A and B
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Answer Posted / manish sarda
Accounting entries in A's Books
B's a/c Dr......
To Supplier's a/c
Supplier's a/c Dr.....
To Bank a/c
To TDS a/c
TDS a/c Dr......
To Bank a/c
Accounting entries in B's Books
Expenses a/c Dr.....
To Supplier's a/c
Supplier's a/c Dr.......
To A's a/c
I hope the above serves the purpose, we can further fine
tune the entries based on companies accounting policies.
| Is This Answer Correct ? | 1 Yes | 3 No |
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