I have started individual firm in august 2019. Should i start accounting date in tally from august 2019?
If i start accounting from august then many of my savings bank entries will be left over between april to august 2019 which is required for income tax calculation.
2 Replies
CA ABHAY GUPTA
(Practice)
(3230 Points)
Replied 16 July 2020
Saving bank account does not have any relation with your FIRM account even it is proprietorship firm.. you should open a current account in the name of FIRM.. any transaction from saving account to current account or vice versa treated through capital account..
Keertikumar Patel
(89 Points)
Replied 16 July 2020
But my CA asks to include all SB accounts in tally for accounting. thats why confused to start from april or august.
thanks for reply
thanks for reply
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