Bank

This query is : Resolved 

07 November 2014 Sir I have opening balance of rs 28,00,000 OD BANK A/C when i put in opening balance it shows diff in opening balance how we should put corresponding entry in the liability side OR ANY OTHER SOLUTION

07 November 2014 you must have taken OD of Rs 28,00,000 and not Used that amount

When you make Payment out of it then it will reflect in books through Journal Enteries.

But still if you have opening Balance then you should do the ledger scrutiny and pass the corresponding entry in respective ledgers to whom payment is made or received in OD A/c

07 November 2014 Sir actually 28,00,000 it is a closing balance of 2013-14 when i put the amount as opening balance for 2014-15 i found diff in opening balance


07 November 2014 It is suggesting that you have NOT entered the balances of balnce sheet of 13-14 in entirity. Enter all the balances and the the difference will disappear.

08 November 2014 OD balance in bank account it self is credit balance and should show at liability side under secured loan.



You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Join CCI Pro
CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries