Dear Sir,
Proprietor transfer some amount from current account to demat account for purchase of share please suggest entry in books.
Demat/investment a/c
To Bank a/c
Naveen Kumar (729 Points)
02 January 2022
yasaswi gomes
(My grammar is 💯 good I)
(7290 Points)
Replied 04 January 2022
Demat/investment a/c
To Bank a/c
Naveen Kumar
(729 Points)
Replied 04 January 2022
yasaswi gomes
(My grammar is 💯 good I)
(7290 Points)
Replied 06 January 2022
Either in deposit account or current asset group. Use current assets if you do short term transactions
yasaswi gomes
(My grammar is 💯 good I)
(7290 Points)
Replied 06 January 2022
Your welcome.
You know? don’t believe every manager is real. The only advantage with professionals is they know tax impact on deferred taxes. Otherwise what ever way we treat will balance the balance sheet. Example, this can be long term asset as well in tally and increase the fairvalue and recognise it like
Demant long term asset a/c
To revaluation gain a/c
if you recognise it as deposit account
Bank a/c
To Investment Income a/c
this is because you received income from trading, put it into bank.
Then if required for AS standard FVTPL investment purpose
Deposit a/c
To Revaluation account
like this it depends upon what kind of investments you have and what is the type of income you get.
yasaswi gomes
(My grammar is 💯 good I)
(7290 Points)
Replied 06 January 2022
So, if you make a deposit entry first
Deposit a/c
To Bank a/c
and if your boss says how dare you put it there when it is current assets. Then do this
Current assets a/c
To Deposit a/c
and tell him keep quiet
in the software just change the group to current assets.
yasaswi gomes
(My grammar is 💯 good I)
(7290 Points)
Replied 06 January 2022
Forgot to mention, I don't know AS proficiently like others. So revaluation account can be finance income as well.
Live class on PF & ESI Enrollment & Returns Filing(with recording)
CAclubindia
