Journal entry
Melwin v Felix (Lecturer ) (38 Points)
13 January 2016
How to pass journal entry for transaction Commission due to Vinay 5000
5 Replies
Ajit Hegde
(CA - Final)
(1367 Points)
Replied 13 January 2016
Commission A/c (indirect expense) Dr. 5000
To TDS on commission (if applicable) 50
To Vinay 4950
On subsequent payment:
Vinay Dr
To Bank A/c
Melwin v Felix
(Lecturer )
(38 Points)
Replied 14 January 2016
ok but if the commission is due why the outstanding commission account is not credited.
Ajit Hegde
(CA - Final)
(1367 Points)
Replied 14 January 2016
Im sry i did not address your query properly. In that case, you can Credit O/s commission ac instead of vinay. And later after payment (payment entry remains the same) Dr. O/s commission and Cr. Vinay
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