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Let us suppose that a school students pays Rs.2000 every month as school fees. Now this Rs. 2000 fee is comprised of several different Fee Heads like Tuition Fee=Rs.800, Library Fee= Rs.200, Lab Fee= Rs.600 etc.
1. My First question- under which Main Ledger Account should these Fee Heads should be created ?
2. My Second question- Rebate a/c or Discount a/c related to school fees should be created under which main ledger account?
I hope i make myself clear. Please reply to my questions.
1. My First question- under which Main Ledger Account should these Fee Heads should be created ?
2. My Second question- Rebate a/c or Discount a/c related to school fees should be created under which main ledger account?
I hope i make myself clear. Please reply to my questions.