Audit fee in receipt & payment a/c Rs 1124
Income & expenditure Is. 1145
Balance sheet Red 1145
How can I do the entry in tally(its a society audit) please help
Answers!
Hi Shikta
It may be because
Audit fees of last year may be paid in this year
For Current year Audit fee Expense you pass entry
Audit Fees Exp 1145
to Audit Fees Payable 1145
For Last year Audit fees paid (which is reflecting in Receipt and Payment A/c)
Audit fees Payable Dr 1124
To Bank/Cash 1124
Comment
Answer the question...
Hi Shikta
It may be because
Audit fees of last year may be paid in this year
For Current year Audit fee Expense you pass entry
Audit Fees Exp 1145
to Audit Fees Payable 1145
For Last year Audit fees paid (which is reflecting in Receipt and Payment A/c)
Audit fees Payable Dr 1124
To Bank/Cash 1124
Comment