MC or Auditor or a Staff Paid the expenses on be half association and later on Association reimbursed the amount to the MC or to the Auditor or to the Staff. How to account this on ADDA?

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• MC or Staff Paid the Vendor on be half association and later on Association reimbursed the amount to the Auditor or MC. How to do the accounting entry on ADDA?

  In such use cases, you need to pass the invoice and payment entry agains the vendor who have actually provided the services. However, you will issue the cheque or initiate the online payment to the Staff/MC who have paid the vendor. Follow the steps ...

• The Builder paid the Maintenance amount on behalf of units. How to account this on ADDA?

  Follow the steps below to meet your requirement: Step 1 - Create a Builder A/c GL under General Ledger>>Chart of Accounts>>Liability Step 2 - Pass the following journal entry: Bank A/c.......Dr (Asset) Builder A/c....Cr (Liability) Step 3 - Go to ...

• What is Reverse Charge Mechanism (RCM) and How to handle RCM on ADDA?

  Reverse charge is a mechanism where the recipient of the goods or services is liable to pay Goods and Services Tax (GST) instead of the supplier. Follow the steps below to handle RCM on ADDA: Step 1 - Create a GL "Tax Pain on RCM" under General ...

• How to post recurring expenses for a vendor?

  Please follow the steps below to post recurring invoices: Step 1: Log in to ADDA -->> Admin -->> Expense Tracker -->> By Vendor Step 2: Select the Vendor you wish to post a recurring invoice for -->> Click on the "Invoice" Button against the vendor. ...

• How to reverse the provisions of expenses made in last year which was not paid or half paid?

  If provisions are passed through Journal Entry then the entry will be(Payment is not made) - Debit Credit Provision for expense A/c Expense A/c To Pass Journal entry, login to Admin Dashboard>>>General Ledger>>Journal Entries. If provisions is passed ...