One of our Sundry Debtor paid the Bill amount to our sundry creditor. What is the accounting principle. Which is the use Voucher in TALLY?
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Answer Posted / Jay Prakash Mani
The accounting principle involved here is the 'Debit to Asset, Credit to Liability' rule. In this case, the Sundry Debtor paid an asset (cash) to the Sundry Creditor, reducing their liability. The voucher used in Tally might be a 'Receipt Voucher' for recording this transaction.
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