Hi Shikta It may be because Audit fees of lastyear 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

Answer of this question

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

Davneet Singh

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

Written on Nov. 20, 2016, 10:07 p.m.

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