Become a Certified GST Practitioner in just 58 hours. Register Now!

How to show payment

12 February 2024

Suppose B is the buyer and A is the seller. B again sells it to C. But C makes payment to A instead of B. How to adjust is in the accounts of B

Reply
Follow
Share

10 Replies

sabyasachi mukherjee (27636 Points)
Replied 12 February 2024

Which payment???

Upgrade to CAclubindia Pro. Subscribe Now!

RAJA P M ("Do the Right Thing...!!!") (128096 Points)
Replied 12 February 2024

For adjustment purpose You can provide JV as below;

Purchase from A
Dr. Purchase a/c - XXXX
Cr. A a/c - XXXX

Sales to C
Dr . C a/c - XXXX
Cr. Sales a/c - XXXX

Journal Voucher for adjustment
Dr. A a/c - XXXX
Cr. C a/c - XXXX

Note:
For adjustment purpose these JV is possible...

But, As per accounting it's not advisable..

1 Like

sabyasachi mukherjee (27636 Points)
Replied 12 February 2024

Sundry creditors
expense head dr.
name of the party cr.

bank credit.

RAJA P M ("Do the Right Thing...!!!") (128096 Points)
Replied 12 February 2024

😇😇😇😇😇😇😇😇😇

Then Why You ask "Which payment???"...???
@ My Dear Great Mr Sabyasachi Mukherjee...

🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣

CA Rashmi Gandhi (Chartered Accountant) (86323 Points)
Replied 12 February 2024

Pass journal entry as said by Raja PM.

Upgrade to CAclubindia Pro. Subscribe Now!

sabyasachi mukherjee (27636 Points)
Replied 13 February 2024

Wrong jv
put the narration.

RAJA P M ("Do the Right Thing...!!!") (128096 Points)
Replied 13 February 2024

You are Always Wrong...
&
You are Totally Wrong...

sabyasachi mukherjee (27636 Points)
Replied 18 February 2024

Becoz you can read the heading lol

RAJA P M ("Do the Right Thing...!!!") (128096 Points)
Replied 18 February 2024

Hey Muttaal,

Now You put Your extraordinary replies in old queries also .

only for points.
being top of the leader board...

There is also a member in top...

So, You can't reach there...

Stupid