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Received patty cash/Giving cash as patty cash
A .Patty Cash A/c Dr xxx
To Bank A/c or Cash A/c xxx
Expense from Patty Cash
B. Expense A/c Dr xxx
To Patty Cash A/c xxx
Transfer to Cash/Bank A/c
C. Cash/Bank A/c Dr xxx
To Patty Cash A/c
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Contra Entry for cash receipts
Petty cash A/c ...Dr xxx
.....To Bank A/c ..xxx
Expense from Patty Cash
Expense A/c Dr xxx
----- To Patty Cash A/c xxx
Transfer to Cash/Bank A/c
Cash/Bank A/c Dr xxx
----- To Patty Cash A/c xxx
Petty cash is a small amount of funds in the form of cash used to be utilised for day to day expenditures whereas disbursement of cheques are not sensible, Hence you may treat cash account as petty cash account or create petty cash account as separate account. You may make entries as follows:
**Received patty cash/Giving cash as patty cash**
A .Patty Cash A/c Dr xxx
To Bank A/c or Cash A/c xxx
**Expense from Patty Cash**
B. Expense A/c Dr xxx
To Patty Cash A/c xxx
**Transfer to Cash/Bank A/c**
C. Cash/Bank A/c Dr xxx
To Patty Cash A/c
Hiiii friend.....
Petty cash entry in Tally.
1. Contra Entry for cash receipts
Petty cash A/c ...Dr xxx
.....To Bank A/c ..xxx
In this case Petty cash increases.
3. For Expenses Entry
Expense A/c ..... Dr xxx
. . . . To Petty Cash A/c . .xxx
Entry made for expenses incurred.
4. For transfer of Petty cash Balance to Cash/Bank A/c.
Cash / Bank A/c .. ..... Dr. xxx
. . . To Petty Cash A/c . . . . xxx
This entry is made to close petty cash and transfer the Balance.
You can create a Petty cash A/c under Cash Account in tally if not available.
Thanks & Regards,
Dear Friend
Patty Cash is part of cash.
so you can manage this a/c as cash a/c.
1. Received patty cash
We use Contra entry
Patty Cash A/c Dr xxx
----- To Bank A/c or Cash A/c xxx
2. Expense from Patty Cash
Expense A/c Dr xxx
----- To Patty Cash A/c xxx
3. Transfer to Cash/Bank A/c
Cash/Bank A/c Dr xxx
----- To Patty Cash A/c xxx
Thanks