If we availing service tax credit , what is the journal entry we have to pass when we receives the bill & what is the payment entry we have to pass if we make a payment

dhatchayani

• Aug 1st, 2017

I have booked cenvat credit and failed to obtain refund bcoz of time lapse. Now the amount is showing in Current Assets, now need to write off the amount, as no chance of getting refund of service tax input booked
Pls give me the journal entry so that I can write off the amount in books

Krishna Maheshwari

• Dec 18th, 2016

Suppose what can we do if I forgot to pass journal entry of service tax payment bill for the 1st half yr Apr to sept and now books of accounts are closed. Now what rectification we can make as books of accounts are already closed and service tax return for first first half period is also filed. .

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In gl we are using recurring journals for reporting purpose,and in ap also we are having recurring invoices. why we use both?

umashankar hs

 Profile Answers by umashankar hs Questions by umashankar hs

• Aug 7th, 2015

Because AP is a subledger therefore every invoice should have corresponding entry in GL a/c

Ansonet Saunders

• Jun 1st, 2015

To save time and to make sure you account for everything

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As a sole trader you require a vehicle to trade and decide to lease the vehicle rather than purchase it, how would you account for it in the company accounts and what nominal would you use?

ANIL

• Oct 23rd, 2013

Hi, Would you please give any example to explain the below question because i am not able to understand plzzzzz As a sole trader you require a vehicle to trade and decide to lease the vehicle rather ...

sivaram addagada

 Profile Answers by sivaram addagada Questions by sivaram addagada

• Sep 15th, 2010

I will open an vehicle owner account under hire vehicles a/c under current liability a/c.

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Every increase in expenditure & assets will be a debit, every decrease in expenditure & assets will be a credit - Put a journal entry and show a puchase transaction.

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sivareddy.bommu  

 Profile Answers by sivareddy.bommu Questions by sivareddy.bommu

• Member Since Oct-2009 | Oct 13th, 2009

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Non Cash Transactions Should be Recorded In Journal Entry.

For Ex:

Salaries A/c  Dr xxxxx

 To Salaries Payble A/c xxxx.

Nishanth Loyal

• Sep 12th, 2012

Journal entry means entering the all financial transactions of the business in a chronological order using golden rules. Also the narration will be given to all the entries. Each transations having tw...

sivareddy.bommu

 Profile Answers by sivareddy.bommu Questions by sivareddy.bommu

• Oct 13th, 2009

Non Cash Transactions Should be Recorded In Journal Entry.For Ex:Salaries A/c  Dr xxxxx To Salaries Payble A/c xxxx.

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sudhi0381

 Profile Answers by sudhi0381 Questions by sudhi0381

• Sep 21st, 2010

Internal Acqusition of an asset means, when an asset is built inhouse by creating an AUC(Asset Under Constuction), and then once the assets is fit to use for Production, its get capitalized as Complet...

atelkar

 Profile Answers by atelkar Questions by atelkar

• Sep 15th, 2010

Asset becomes capitalised when it is bought for profit motive, as an investment, and most important : when it is used.Asset available within an organisation - Internal Asset.Asset where they are present physically out of organisation - External Asset.

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