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How to record transactions on books of accounts?

27 February 2020

dear all my registered firm having address
of main road katras.
I have a property land in different addresss
I am doing some project here so what is provision to maintain books of account if I am doing expenses in different addresss of firm properly then how to billed recvd from suppliers

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2 Replies

RAJA P M ("Do the Right Thing...!!!") (128091 Points)
Replied 27 February 2020

Your query is not cleared....!

Elobrate with more details...

What is Your exact query...?
Different addresses means..?
What is Your business...?
All addresses are same state or not...?
Are You register under GST...?
Are You asking about GST or Income Tax or Accounting or others...?

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Suman (CMA) (195 Points)
Replied 14 April 2020

Events and transactions are recorded using the journal entries. Use the 3 golden accounting rules to record the journal entries based on whether they are personal, real or nominal accounts. After recording all the transactions in the journal, they are transferred to the general ledger. Every transaction from the journal is posted into the ledger. The ledger is the book of final entry. It is used to organize and classify transactions.

Each journal entry is moved into an individual account. The line items are called ledger entries. The debit and credit amounts from the journal are transferred to the ledger account. After posting entries to the general ledger, calculate the balance of each account. All the ledger accounts are put together to form a trial balance. Using the trial balance, the financial statements are prepared.