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(Querist)
31 May 2015 what would be advance entry in tally ?
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CMA. CS. Sanjay Gupta

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CMA. CS. Sanjay Gupta (Expert)
31 May 2015 What type of advance?

Entry for advance paid will be--

Advance A/c Dr...

To Bank/Cash A/c....
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CA AnKiT BoHrA (AB)

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CA AnKiT BoHrA (AB) (Expert)
31 May 2015 Advance from party dr to bank or cash
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CMA. CS. Sanjay Gupta

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CMA. CS. Sanjay Gupta (Expert)
31 May 2015 Dear Ankit it will be Advance to party. Advance from party will be liability.

For advance received entry will be...

Cash/Bank A/c Dr...

To Advance Received from party A/c..

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