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opning balance of sundry debtors
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∙ 11y ago
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What is opening balance control account?
we should entry the opening balance to account for total balance ,That adjustment is opening balance control
For eg stock on April 1st 1998 Rs1110 and stock at march 31st 1999 was valued at rs1275 how can you enter this entry into tally accounting software?
first create a company in tally then select Maintain: Accounts only 1.create ledger Opening stock under stock in hand opening balance Rs.1110 Accept then go to alter opening stock ledger see opening balance Rs.1110 Closing balance ? G.Selvakumaran Delta systems 9176289674 delsys05@gmailc.om
How do I create a journal entry for opening an account balance?
Debit bank accountCredit cash
The Item column of the ledger account for the opening first entry for the ledger accounts?
The first opening entry of a ledger is the correctly dated total or balance. It is from that amount in which all other numbers are credited and debited.
What is the journal entry of the opening stock?
opening stock is the stock at the end of previous year which is being carried forward to next year. so it is treated as opening balance (asset) n the following journal entry will b passed opening stock Dr. to liabilities *if liabilities are not there then capital is to be credited
How do you enter discount entry in purchase transaction in tally software?
We are purchasing stock rs 3480.00 they give discount rs 170.00 how do we entry the purchase
What are the objective of single entry system?
There are many objectives of a single entry system. Balancing profit and loss, recording transactions, opening accounts, revealing financial position, and preparation of trial balance.
What's the utility of an order entry software?
Order entry software is, as the name implies, used to enter orders. Typically, someone would use this software when taking orders over the phone or in person, so that whatever is being purchased can be properly billed for and delivered as needed.
Why the trial balance always be in balance?
Trial balance is always balance because of every entry in double entry system is in balance as related to debit account and credit account.
What software can one download to block spam mail?
The software MailWasher can block spam e-mails. It can be easily downloaded from the official website of the software. One must just enter "MailWasher" in google and the first entry is the official website of the software.
What box complete an entry?
Click on the Enter box to complete a cell entry.
Are journals balanced daily in bookkeeping?
Yes. In practice, accountants and bookkeepers normally use computer software to input journal entries; the software automatically ensures all accounts are balance after every journal entry.
