30 September 2016
If its ur usual habit to pay through paytm, then better to open a Ledger named as Paytm in current assets(Bank), and treat it as a Bank A/c, when u add money to Paytm then make a contra entry as inter bank transfer. Paytm Dr. To Bank. Otherwise no need to create a ledger, just post a entry as cash payment.
01 October 2016
U r welcome dear. Yes u r right. But it must b bank or credit card only, coz u can't add liquid cash to Paytm as far as I know(so no cash should b credited).If u like my reply then show ur appreciation by hitting the thanks button.
CAclubindia
