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?
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Answer Posted / nazeer ahmed
20-2-2012 Account Payable (Dr.) 500
Cash (Cr.) 500
(record the advanced paid to the supplier)
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3-3-2010 Purchase (Dr.) 1500
Cash (Cr.) 1500
(record the purchase paid to the supplier)
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Today Purchases (Dr.) 1500
Cash (20-2-2012) 500
Cash (today's date) 1000
(record the purchases on cash)
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