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 / hemant
Advance payment to supplier A/c ---- Dr. 500
To bank A/C 500
Purachse A/C------------------------ Dr. 1500
To Supplier A/c 1500
Supplier A/C ----------------------- Dr. 1500
To Advance payment to supplier A/c 500
To Bank A/c 1000
| Is This Answer Correct ? | 13 Yes | 2 No |
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