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what is the entry of patty cash in tally

Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 asked

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Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 answered

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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Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 answered

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

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Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 answered

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

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Open uri20170510 32134 tcchcu?1494421832 answered

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,

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Data?1494421730 answered

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

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