Answer Posted / sneha

TREATMENT OF LOAN IF IS TAKEN IT COMES UNDER LIABILITIES
SIDE OF BALANCE SHEET .IF LOAN IS GIVEN IT COMES UNDER THE
ASSETS SIDE OF HEADING "LOANS &ADVANCES".
IF INTEREST IS PAID IT IS DEBITED TO P/L A/C,IF INTEREST
IS RECEIVED IT IS CREDITED TO P/L A/C.

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

2054

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2184

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1125

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Interest received 5,000 and still receivable Rs. 2,000 PLease give journal entry for this!

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2020

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