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I Have a question regarding Cash or Bank

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


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