can amount in patym wallet be shown under bank account in balance sheet??
how to account for cash-back in patym??
pls guide.
6 Replies
RAJA P M
("Do the Right Thing...!!!")
(128091 Points)
Replied 05 January 2019
You can show it under Current Asset head as "Cash / Cash Equivalent".
CA S Praveen Kumar Reddy
(Chartered Accountant)
(2195 Points)
Replied 05 January 2019
go with raja answer
Abhishek Kumar Gupta
(Article)
(148 Points)
Replied 05 January 2019
how to account for cash-back amount received on account of money transfer and expenses
Jatin
(Accountant)
(3479 Points)
Replied 05 January 2019
Treat cashback amount as indirect income
When cash back received pass following entry:
Dr. PaytmWallet A/c - Under Current Assests
Cr. Cashback recd - Under Indirect Income
or
For example if you cash back received for electricity payment
Dr. PaytmWallet
Cr. Electricity Expenses
When cash back received pass following entry:
Dr. PaytmWallet A/c - Under Current Assests
Cr. Cashback recd - Under Indirect Income
or
For example if you cash back received for electricity payment
Dr. PaytmWallet
Cr. Electricity Expenses
PaulNayda
(MBA)
(26 Points)
Replied 04 March 2019
I agree with the above. Also I would like to suggest this article for those who might need it: https://essayclick.net/blog/persuasive-essay
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