If we give a discount to any customer on our invoice & issue
a credit note of discount than what will be the group of
discount in tally. please suggest me.

Answer Posted / ck singal

the group is "Indirect Expenses"
B'coz, it will deemed as a business expense

Is This Answer Correct ?    1 Yes 0 No



Post New Answer       View All Answers


Please Help Members By Posting Answers For Below Questions

GOODS LOST BY FIRE 100 RS, INSURANCE MONY RECEIVED 120,40 PENDING FOR FINAL SETTLEMENT- Journal Entry

1794


Pls let me know Job profile for Account Manager.

1524


If assume we paid 50/- as an advance for worth or 100/- goods, but our supplier sent only up to 25/- worth of goods. Know my question is that we want to close the transaction now and how it possible? What about vat like tax setups in ap and ar? What about the sweep command in ap?

640


What is the objective of the balance sheet?

631


What is the difference between cost accounting management accounting and financial accounting?

628






I am working in govt. sec. How to make journal entry in books for Fix Deposit

1445


How to pass workscontract sale invoice which includes WCT & VAT.

1806


contents of an invoice receipt? difference b/w statutory audit & internal audit? Where the bank book and the cash book will not reconcile? difference b/w income & expenditure a/c & p/l a/c? what is ERP? what is full form & the application of SAP? Why income statement prepared? What are the reasons where Balance sheet will not tally? How do you calculated Closing stock in the trading a/c? When will the cash book have a Credit balance? Why do you prepare p/l appropriation a/c? What are the 4 difference b/w public and private company? What do you mean by Contingent liability? Explain: Accrual Concept 1. Realisation concept? 2. Accounting concept?

2169


if cheque bounced what we received from customers and payed to bank what entry should we create in single entry system

1594


How to post salary advance transfer from one branch to another branch ?

1028


Why do users of accounting information need accounting information?

606


What are the elements of the accounting equation?

660


what are the different types of expenditures considered for the purpose of accounting?

644


From the following particulars taken on 31 December, 1995, you are required to prepare a bank reconciliation statement to reconcile the bank balance shown in the Cash Book with that shown in the Pass Book: (i) Balance as per Pass Book on 31 December, 1995, O/D Rs 1,027. (ii) Four cheques drawn on 31 December but not cleared till January are as follows: Rs 12; Rs 1,021; Rs 98; and Rs 113. (iii) Interest on O/D not entered in Cash Book Rs 51. (iv) Three cheques received on 30 December and entered in the bank column of the Cash Book but not lodged in bank for collection till 3 January next: Rs 1,160; Rs 2,100; and Rs 2,080. (v) Cost of cheque book, Pass Book, etc; Rs 1.50 entered twice erroneously in Cash Book in November. (vi) A Bill Receivable for Rs 250 due on 29 December, 1995 was passed to the bank for collection on 28 December, 1990 and was entered in Cash Book forthwith whereas the proceeds were credited in the Pass Book only in January following. (vii) Chamber of Commerce subscription Rs 10 paid by bank on 1 December, 1990 had not been entered in the Cash Book. (viii) Bank charges of Rs 5 had been debited in the pass book twice erroneously. . . . plz be fast

1596


Accounting transactions are recorded in accordance with thier legal form or substance. Briefly explain the legal form and substance of the accounting transactions and give one relevant example.

1660