How to pass advance entry in tally, and how it should adjust
against future invoice.?
Answer Posted / reddy
1.PARTY ADVANCE A/C Dr xxx
TO CASH/BANK A/C xxx
(BEEING ADVANCE PAID TO PARTY OR (SUPPLIERS).
ADJUSTMENT OF ADVANCE :-
2. PARTY"S A/C Dr xxxx
TO PARTY ADVANCE A/C xxx
TO CASH/BANK A/C xxx
(BEEIN WE PICKED PARTY ADVANCE FROM PARTY ACCOUNT)AND
ADJUSTED THE PARTY ACCOUNT)
Is This Answer Correct ? | 75 Yes | 28 No |
Post New Answer View All Answers
give 3 reasons why capital is referred to as a special liability
Where the financial accounting fails the cost accounting for is rescue but still there are some limitations deficiencies in the system?
under which accounting rule prepaid salary?
What is trial balance? What does an accurate trial balance suggest?
What is debit and credit note?
Explain financial accounting. What are its characteristic features?
Hi, we are not a VAT register and raised not VAT bill to company for signage material. they are deducting WCT @4%, can anybody help me why they are deducting WCT while i am not a VAT register vendor, as i do not cross threshold limit.
Spinoff,Spelloff
Tell me what is the difference between accumulated depreciation and depreciation expense?
Define fair value accounting?
While finalizing the current year’s profit, the company realized that there was an error in the valuation of closing stock of the previous year. In the previous year, closing stock was valued more by Rs.50,000. As a result (a) Previous year’s profit is overstated and current year’s profit is also overstated (b) Previous year’s profit is understated and current year’s profit is overstated (c) Previous year’s profit is understated and current year’s profit is also understated (d) Previous year’s profit is overstated and current year’s profit is understated
Why does the accounting equation have to balance?
Hi.. I am pursuing my MBA II year thrgh distance frm O.U HYD., Pls let me know any jobs...in Bank jobssssss
What would be journal entry for--Encashed a bank draft belonging to X? Ans as given in textbook is Bank account debit to Cash account credit.......But shouldnt it be Cash account debit to Bank account credit...Wat do u guys feel??And do explain ur answers..Thnx in advance
what is book building