Jv entry
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
21 September 2011
DEAR SIR,
suppose ABC COMPANY HAVE A EPC CONTRACT WITH XYZ COMPANY. THE TOTAL CONTRACT VALUE IS 10000.WE WILL HAVE TO PAY 10 % AS AADVACE FOR MOBILISATION OF EQUIPMENT. SO WHICH ENTRY ABC SHOULD TAKE FOR 10 % ADVACE PAYMENT.
THE ENTRY WILL BE.
LOAN AND ADVACE ACOOUNT DR.
TO XYZ A/C.
AFTER PAYMENT
XYZ A/C DR ,
TO BANK.
THANKS AND REGARDS,
AVINASH KORDE.
suppose ABC COMPANY HAVE A EPC CONTRACT WITH XYZ COMPANY. THE TOTAL CONTRACT VALUE IS 10000.WE WILL HAVE TO PAY 10 % AS AADVACE FOR MOBILISATION OF EQUIPMENT. SO WHICH ENTRY ABC SHOULD TAKE FOR 10 % ADVACE PAYMENT.
THE ENTRY WILL BE.
LOAN AND ADVACE ACOOUNT DR.
TO XYZ A/C.
AFTER PAYMENT
XYZ A/C DR ,
TO BANK.
THANKS AND REGARDS,
AVINASH KORDE.
21 September 2011
It will be like other advanve only.
Party's a/c Dr.
To Bank a/c
Party's a/c Dr.
To Bank a/c
Message likes :
1 times
29 September 2011
it is to be other advance only, but it should be adjusted against the running bills properly on proportionate method
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- TDS U/S. 194NF
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- GST on export of services and Input Credit
- ITC temporary reversal and reclaim
- Applicable TDS rate for sale of property in Nov 2024
- Tds on building rent monthly
- Import license renewal
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding einvoice taken on nil rated sales
- Strategical investment in Public listed company
Trending Online Classes
CAclubindia
