How to pass the enry in tally ?
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
05 February 2011
Dear Sir,
Our partnership firm, managing partner giving the money to the firm and taking the money ? how to pass the entry for this situtation ?
P N Murali
Dear Sir,
Our partnership firm, managing partner giving the money to the firm and taking the money ? how to pass the entry for this situtation ?
P N Murali
05 February 2011
partner a/c dr bank credit in case of withdrawl and vice versa in case of giving.
05 February 2011
Hi
Bank A/c Dr xxxx
partners a/c Cr XXXX
taking money is
Partners a/c Dr XXXX
to Bank a/c Cr XXXX
Hi
Bank A/c Dr xxxx
partners a/c Cr XXXX
taking money is
Partners a/c Dr XXXX
to Bank a/c Cr XXXX
05 February 2011
Agree with experts .When partners withdraw money it will be drawings,so partners capital a/c will be debited and in case of money given to firm it wll be additional capital introduced so partners capital a/c wll be credited.
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