How to journalize the enter of POS Machine Transaction in Tally
generally POS service provider deduct their MDR fees and rest amount send in bank account
how to record these transactions in books of accounts
5 Replies
sabyasachi mukherjee
(27574 Points)
Replied 20 December 2023
Pos transaction are journalised , but in whose books.
Yasir
(article assistant )
(466 Points)
Replied 20 December 2023
In the books of a sole proprietorship business
Sharath chandra
(Accountant)
(1227 Points)
Replied 20 December 2023
Sale ... 98
to bank account ..98
mdr fee .. 1.5
igst .. 0.5
to, merchant account 2
100 re sale. net recd 2rs.
hope this clears the point
to bank account ..98
mdr fee .. 1.5
igst .. 0.5
to, merchant account 2
100 re sale. net recd 2rs.
hope this clears the point
prasad Nilugal
( GST Practitioner & Accounts )
(14801 Points)
Replied 20 December 2023
100 Sale , 10 MDR Charges, GST 12 % on Rs 10/- MDR charges 1.2
Bank A/c Dr 90
To Sales A/c Cr 90
( sales through Pos after deducting MDR charges)
MDR Charges A/c Dr 8.80
CGST A/c Dr .60
SGST. A/c Dr .60
To POS Marchant A/c Cr 10
( MDR charges payable)
POS Marchant A/c Dr 10
To Bank A/c Cr 10
( payment entry)
Bank A/c Dr 90
To Sales A/c Cr 90
( sales through Pos after deducting MDR charges)
MDR Charges A/c Dr 8.80
CGST A/c Dr .60
SGST. A/c Dr .60
To POS Marchant A/c Cr 10
( MDR charges payable)
POS Marchant A/c Dr 10
To Bank A/c Cr 10
( payment entry)
RAJA P M
("Do the Right Thing...!!!")
(128091 Points)
Replied 20 December 2023
If sale Rs 100/- & MDR fee Rs 10/- then follow the below entries...
For Sale :
Dr. Customer A/c - 100
Cr. Sale A/c - 100
For Receipt:
Cr. Customer A/c - 100
Dr. Bank A/c - 90
Dr. POS Ser Provider A/c - 10
For Service Provider Charges:
Dr. MDR Service Charges - 10
Cr. POS Ser Provider A/c - 10
For Sale :
Dr. Customer A/c - 100
Cr. Sale A/c - 100
For Receipt:
Cr. Customer A/c - 100
Dr. Bank A/c - 90
Dr. POS Ser Provider A/c - 10
For Service Provider Charges:
Dr. MDR Service Charges - 10
Cr. POS Ser Provider A/c - 10
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