Good afternoon,
Say for Eletricity Bill payment - the Bill amount is INR 845/- and I paid to the Dept INR1,000/-. How to account this transaction.
Thanks.
As a new user you should really start by reading the Guides.
Another great page for consulting these basic accounting questions (not the scope of this forum) is https://www.accountingcoach.com/
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If your electric utility company has been set up as a supplier, you record your payment exactly the same way as if you had paid the correct amount. The purchase invoice will be overpaid. See Record a payment | Manager and Resolve overpaid status on purchase invoices | Manager.
Thank you so much for the guidance. Very much appreciated.
Rajiv