Check sibling questions

Expense 1.png

Expense 2.png

 

 

Solve all your doubts with Teachoo Black (new monthly pack available now!)


Transcript

IF NO TDS First Expense then Payment  First Payment in Advance, then Expense  Bill Expense A/C Dr. To Party A/C 100000 100000 Payment Party A/C Dr. To Bank A/C 100000 100000 Payment Party A/C Dr. To Bank A/C 100000 100000 Bill Expense A/C Dr. To Party A/C 100000 100000 Bill Expense A/C Dr. To Party A/C 100000 90000 Payment Party A/C Dr. To Bank A/C 90000 90000 Payment Party A/C Dr. To Bank A/C 100000 90000 Bill Expense A/C Dr. To Party A/C 100000 100000 To TDS 10000 To TDS 10000 If TDS @ 10% Expense Entries 20% Payment in Advance, then Expense 100000, then Balance Payment Bill Expense A/C Dr. To Party A/C 100000 100000 Payment Party A/C Dr. To Bank A/C 20000 20000 Payment Party A/C Dr. To Bank A/C 80000 80000 Payment Party A/C Dr. To Bank A/C 20000 18000 To TDS A/C 2000 Bill Expense A/C Dr. To Party A/C 100000 92000 Payment Party A/C Dr. To Bank A/C 72000 72000 To TDS A/C 8000 If No TDS If TDS @ 10% Applicable

CA Maninder Singh's photo - Co-founder, Teachoo

Made by

CA Maninder Singh

CA Maninder Singh is a Chartered Accountant for the past 12 years. He also provides Accounts Tax GST Training in Delhi, Kerala and online.