How to account the amount received from customers for a specific purpose and do not form part of my revenue
I receive amounts from customers for making TDS and GST payments on their behalf. For example, I receive 10k from a customer on 5th of a month and I make the remittance to the Govt. on 7th. How can I account these transactions? Is it possible to create a ledger for these payments with subledgers of customers? There is no mark up for this and I do not show it in my invoice.
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Naveen Promoth D
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