Interested to Buy Any Domain ? << Click Here >> for more details...
I have received a cheque from customer and i deposited into
the bank next 4-5 days cheque has been bounced by the bank.
Pls tell me what is reverce entry in the tally for cheque
bounced and which option i will enter in journal or payment
entry.
Salary . is it direct exp or indrect exp.
- 9 Answers
- 60682 Views
- Prime Focus, I also Faced
- E-Mail Answers
Answer Posted / pushpal bhattacharya
When you received the cheque (for amount Rs.X) from
Customer, you must have entered the following Receipt:
Credit: Party A/c Rs.X
Debit: Bank A/c Rs.X
When the cheque has bounced, bank must have charged Rs.Y (as
Bank charges), which need to be recovered from the Party.
For this, you need to have a separate ledger "Bank
Charges"(under Indirect Expenses). Then pass the following 2
entries in Tally:
(a) Pass a Journal Voucher as follows:
Debit: Party A/c Rs.(X+Y)
Credit: Bank A/c Rs.X
Credit: Bank Charges Rs.Y
(b) Then, pass a Payment Voucher as follows:
Debit: Bank Charges Rs.Y
Credit: Bank A/c Rs.Y
| Is This Answer Correct ? | 34 Yes | 2 No |
Post New Answer View All Answers
Tell me do you possess any knowledge about accounting standards?
Hi I would like to know what is journal entry for buying securities with Margin Trading I mean 50% of cost is paid by broker. 2nd question is when we withdraw extra money from the balance we have in bank account which means our balance become (-) what is journal entry for that, should I just credit the bank or should I put the extra money with-drawled as a liability account ? Thank you in advance!
Hello friends, I want to sk that Is computer proficiency certificate necessary at the time of SBI clerk Interview?and all other guys who have cleared the nov 2009 exam and have got the bio data form please give replies,,, waiting for replies ,thank you.
What are premises in accounting sense? What is vat adjustment?
HI FRNDS THIS IS NARESH I DONE MBA (FINANCE)IN 2011. AND I DID COMPLETE SAP FICO.I WANT TO DO START CAREER WITH SAP FICO PLZ TELL ME PLZ HAVE ANY INTERVIEW AS FRESHER IN HYD OR PLZ SEND THIS MAIL...NAINALA.NARESH@GMAIL.COM
on 02/05/2013 issued a cheque to third eye ltd of Rs.14000/- in full and final settlement against the due on amount
What is account in accounting?
what is account reconcillation
while preparing insolvency account deficiency account is wich account? why we do not prepare it with general rules?
How you can adjust entries into account?
under which accounting rule prepaid salary?
Explain have you ever prepared mis reports and what are these?
how to calculate ESI,PF,PRO.TAX, INCOME TAX, VAT, T.D.S, EXCISE PLEASE SAY ANSWER IN DETAIL WITH PROPER UNDERSTANDING PLEASE SAY THROUGH WITH EXAMPLE
How new/innavtive assets are to be treated under IFRS?
What is Provision Entry
