Kashif Khan (Senior Financial Analyst/ Web Developer/Illustrator/Social Activist) (78 Points)
16 March 2012please clarify:
i have sale my website solutions worth rs 12,000 to XYZ Pvt Ltd., he make 30% advance payment by cheque payment , i posted on tally as-
1. voucher sales entry rs 12,000 / Debtor XYZ
2. voucher Receipt Entry rs 12,000 from XYZ.
plz clarify did i make any error or hope it is ok.???
Rafiqual Hussain
(Internal Auditor Cum Accountats Executive)
(32 Points)
Replied 23 March 2012
Sales entry is ok
But Receipt entry should be Rs 3600/- (i.e 30% of 12000/-) , the balance amount wil be reflect in party ledger.
CAclubindia
