Hi All,

What if an employee pays on behalf of the company to the vendors through his credit card and company pays him by settling his credit card bills...

And what of same happens in case of director

Pls reply in case Employee is a relative/non relative of director.

If possible give references to sec/AS

Thanx in advance !

Hi,
I want to know the ESI % for employee and employer contribution and PF % and how topass accounting entries for the same in Tally.

My querry is relating capitalisation of cost inccured after the date which is declared as date of commercial production.

But the concerned company is saying even they declared date of production as 1-4-2009, they actually started producing commercially feasible quantity from 1-10-2009 only, and they are capitalising cost upto 1-10-2009.

Is it the right treatment?
Will it be allowable in tax consideration?

I WISH TO KNOW HOW I CAN IMPLEMENT SAT IN TALLY 9 SO THAT IT CAN BE AUTO CULCULATED AND SHOW IN VAT COMPUTATION REPORT AND VAT RETURN

KRIPA SHANKAR BIND
BHADOHI
UTTAR PRADESH -221404

A co. made export in US & invoice is made on 23.12.2009 for $5,68,900.74. Co. sent CAD papers to its bank for collection on 24.12.2009. On 07.01.2010 Net payment of $5,68,774.74 is realised after deduction of commission of $126. On 07.01.2010 1$= Rs. 45.56. Co. kept this $5,68,774.74 in its EEFC A/c. On 13.01.2010 Co. got coversion of $5,68,774.74 into Rs. @ 45.66/- and Rs. 2,59,70,255/- (i.e. $5,68,774.74*45.66) is transferred to its CC A/c from EEFC A/c on 13.01.2010.

What is the accounting entry for above mentioned transaction?

Is Employee includes contract labour

pl let me know what is the liability of a accountant in case of fiancial manipulation by the concern

SIR,

WE HAVE RECEIVED GOODS FOR JOB WORK AND ISSUE A BILL FROM SALE BILL FILE AT VAT 4%.

CAN YOU SUGGEST
1.) IT IS SALE OR JOB WORK INCOME
2.) WHETHER VAT IS CHARGED ON JOB WORK INCOME OR NOT.
3.) IS IT WRONG TO ISSUE JOB WORK BILL FROM SALE BILL FILE OR NOT.

PLZ REPLY................../

Like there is double entry system to avoid one-sided mistakes while entering a transaction, does the tally v4.5 to ERP.9(ny1) allow cross company entries so that there remains no need of reconciliation of one co.'s A/c in books of another and vice-versa nd their remains no requirement of entering the same transaction entered between two co.'s twice on tally?

Dear Sir,

I would like to know about th procedure for bank guarantee & letter of credit as per Indian Banking standard.