What is the journal entry for paying 50000 rs. To xyz co.
For professional fees after deducting tds on that.
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Answer Posted / samir roy
professional fees A/C Dr. 50000/-
to XYZ Co 50000/-
XYZ A/C Dr. 5000/-
to TDS of P. Fees 5000/-
XYZ Co A/c Dr. 45000/-
to CASH/ BANK 45000/-
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HI I AM WORKING IN A INTERIOR DESIGNING COMPANY.WE ACTUALLY GET PROJECTS FROM CLIENTS & WE SUBCONTRACT THE WORK WE USUALLY SUBCONTRACTS THE SUPPLY OF LABOUR & SUPPLY OF MATEIALS TO SUBCONTRACTORS.WE DONT HAVE LABOURS OF OUR OWN & ALSO PRODUCTION OF MATERIALS.HOW CAN I TREAT THIS IN TALLY IS THERE ANY OPTION AVAILABLE IN TALLY FOR SUBCONTRACTING OR SHALL I ENTER THE NAME OF SUBCONTRACTORS AS SUNDRY CREDITORS AS WE DO USUALLY IN TALLY.PLEASE DO LET ME KNOW ABOUT THIS 0554125475 IS MY NUMBER
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