Hi Experts,
I Have a question regarding Cash or Bank
Cash or Bank are Current assets then posting keys would be 70 or 75, but we are taking as gl giving posting key as 40 & 50
Example
In F-43
Invoice:
40 Purchases A/c Dr 500000
31 To Vendor A/c Cr 500000
In F-53
Payment:
25 Vendor A/c Dr 500000
50 To Bank A/c Cr 500000
Thanks & Regards,
K Kali Praveen