Tally erp

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

31 May 2012 adjustment entry

output vat 15000

input vat 4500

inki entry tally me kasi hogi

payment ya journal voucher me hogi

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
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31 May 2012 Your output VAT exceeds the input. So you have to make payment for the difference.

Use payment voucher and entry will be as under:

Output VAT 15,000
To Input VAT 4,500
To Bank 10,500

CA. RICHI SAXENA

CA. RICHI SAXENA (Expert)
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31 May 2012 You should use a journal entry first of all:

Output VAT 15,000
To Input VAT 4,500
To VAT payable 10,500

VAT Payable should be grouped under Current Liability.
And then make payment entry :

VAT payable 10,500
To Bank/Cash 10,500

CA.Richi Saxena

Message likes : 1 times

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