Check sibling questions

While passing entry,following things should be taken care of

  • Totaling of bill (Some vendors do cheating while totalling)
  • Vat No if vat) charged on bill, same for service tax and excise
  • If tds deductible, pan no available,if no pan  no 20% tds
  • Maintain Cost Centre
  • Maintain Bill Details(New Ref/Agst Ref)
  • Due date of payment

Also it should be ensured that it is not a duplicate bill by checking old entries of Party in Tally

 

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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.