Entry for advance payment to supplier
This query is : Resolved
17 April 2015
Dear Sir,
I want the entry for Advance payment to supplier. I hv passed blw entry. Kindly confirm.
1)
Advnce to Supplier a/c ---- Dr 100
To Party A/c --------------cr 100
2)
Party A/c Dr-----100
To Bank A/c Cr------100
Pls confirm above entry is correct or any other entry be passed.
Thanks
Yeshwanth Shetty
email id : yeshshetty@rediffmail.com
I want the entry for Advance payment to supplier. I hv passed blw entry. Kindly confirm.
1)
Advnce to Supplier a/c ---- Dr 100
To Party A/c --------------cr 100
2)
Party A/c Dr-----100
To Bank A/c Cr------100
Pls confirm above entry is correct or any other entry be passed.
Thanks
Yeshwanth Shetty
email id : yeshshetty@rediffmail.com
17 April 2015
the first entry is incorrect as only entry should be:
Party's a/c.........100
to Bank a/c 100
as u have paid in advance must be reflected in bank and partys a/c
Party's a/c.........100
to Bank a/c 100
as u have paid in advance must be reflected in bank and partys a/c
17 April 2015
Yes, just create creditor A/c and pass only one entry.
20 April 2015
Ok noted.
Thanks.
Thanks.
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