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Transfer Entries in tally

03 December 2021

100000 were transferred from Principal Place of Business to Additional Place of Business.Both Companies in the same state with same GST Number.How to Record the transactions entries in tally ERP9 for both Companies.

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SHIV KUMAR (Co-Founder of Sublime Associates) (245 Points)
Replied 03 December 2021

Creat branch and make entry simple...

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GOKUL K JADHAV (Master of Commerce & CA inter 1st group cleared.) (156 Points)
Replied 03 December 2021

If transfer in account pass Contra entry

CA Altamush Zafar (GST Consultant) (15971 Points)
Replied 03 December 2021

It seems by your question that you are maintaining separate tally for each branch. In that case you need to treat the transfer as if sale purchase is being done but without ITC. On finalisation since both tally accounts will have to be consolidated then the balances will get netted off.

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