Trimurthy Traders(Proprietor : Mr. Surya Krishnamurthy) - Transaction No.133 of Practice Sheet-7, Payment Voucher No.105

Practice Sheet - 7 (Transactions for the month of Oct' 2021)

TRIMURTHY TRADERS

(Prop : Mr. Surya Krishnamurthy)

Financial Year : 2021-22(April' 2021 to March' 2022)

Assessment Year : 2022-23(April' 2022 to March' 2023)

Date : 31/10/2021 (Transaction No. 133)

Amount paid to Mr.Abhisek for ₹5,175/- towards commission after ITDS 10% on Total commission for ₹5,750/-.

Journal Entry

Let's see how to enter the above transaction in TallyPrime.

Steps to enter in TallyPrime.

Go to Voucher Entry Screen

Press 'F5' or click on 'F5:Payment'

Press 'F2' or click on 'F2:Date' to enter Date of Voucher/Date of Transaction.

Create Ledger Name 'Commission A/c' under group 'Indirect Expenses'

Create Ledger Name 'ITDS A/c' under group 'Current Liabilities'

Place Debit Ledger and Credit Ledger Accounts with amount as mentioned in the image below.

Press 'Ctrl+A' to Accept/Save Voucher.

Now Voucher Entry for the above transaction is Complete.

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