Kollipara sundaraiah asked 3 years ago
Assess maintained a two private hospitals two different places in sole proprietorship.
2nd hospital Fees collections from patients through on online mode (phone pay or Google pay mode)1st hospital maintained bank accounts fees amounts (credited).
Query:
Assess above fees collections transactions 2nd hospital accounting books or 1st hospital accounting books accounting entry passed in books or both hospital accounting books entry passed is correct method.
Joya answered 3 years ago
Assessee maintained two private hospitals;-
- 1st Hospital collect fee as a direct credit to its bank account.
- 2nd hospital collect fee through different online mode phone pay, google pay..
There is no issue in any of above method. Fee can be collected in any of the above method. The fee collected through phone pay or google pay is also credited to hospital’s bank account. For accounting both hospital are correct and accounting entries can be passed on based on the method of fee collection.