Question { Goldman Sachs, 54525 }

Kindly tell me some journal entry of provision .
1) Make provision for Rs 100 teliphone bill on 31 March 2010.

2) teliphone bill received Rs 150/- on dated 10 Apr 2010.
What will be journal entry for both case in tally.

Answer

1) Provision for Telephone bill on March 2010

Telephone Expenses A/c Dr 100.00
To Telephone Expenses payable A/c 100.00

2) Journal Entry on April 2010

Telephone Expenses Payable A/c 100.00 Dr
Telephone Expenses A/c 50.00 Dr
To Service Provider A/c 150.00

Question { Accenture, 9582 }

What is the link between the Vendor master record and the APP

Answer

In APP we are create Bank ID,this Bank Indicator is updated
in the Vendor Master Record