journal
mathan kumar (accountant) (40 Points)
29 June 2018
what is the relationship between rent payable and outstanding rent??
Langesh Siva
(Accounts Manager)
(164 Points)
Replied 29 June 2018
Hi Sir,
Rent payable is your monthly liability (if you are paying Monthly rent), usually every month end expenses(Debit) to be made and and liabilty of rent payable(credit) to created(GST & TDS is there you have make entries accordingly), instead of creading rent payable ledger you can create land lord name also while paying the that liabilty get over it means your outstanding of rent will be closed,
Closing balance of Rent payable, or land lord is outstanding rent
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