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Accounting for an advocate

garvit bharti (CA FINAL) (370 Points)

28 March 2014

how an advocate should maintain his accounts in the best possible manner. He is doing Almost all the transactions are through bank. pls suggest

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3 Replies

CA Sujeet Kumar (Self-Practice) (738 Points)
Replied 28 March 2014

He can maintain his accounts as ca maintain like pay service tax on payment basis expect some cases and record expenses on cash basis until you think that it is better to maintain accounts on accrual basis

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CA Raj Doshi (Practising CA) (8924 Points)
Replied 28 March 2014

Open a Client A/c Subgroup under sundry Debtors because main thing is to maintain a record of the services provided and bills issued.

garvit bharti (CA FINAL) (370 Points)
Replied 29 March 2014

I need detailed and worthy explanation on it ..right from the beginning.. if anyone can guide????? As far as accounting software is concerned,i guess tally is best option right??????