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Payment Received another company account

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21 May 2020 Dear Sir,

I hope all is good in lock down period sir i have one query.
i am using tally erp9 software we have two company like panchal ..... machinery and panchal ..... works . i am sale machine with name panchal machinery and payment received panchal engineering so please tell me about adjustment entry for account nill

21 May 2020 Either give a cheque and pass payment entry or pass journal entry crediting debtor and debiting inter company accounts.

22 May 2020 Moreover, if both the companies have common board of directors or shareholders, then Section 188 of companies act, 2013 also need to take into consideration




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