there is a wrong debit balance in name of bank loan account, and no such bank loan exists in book of account, so how can be removed such error in our current year books.
11 May 2020
If the bank have wrongly transferred the loan amount to your account then contact the bank branch. Further, if wrong journal entry have been passed in books of accounts then reverse the journal as below: Bank Loan A/c Dr. To _________ A/c Cr. (mention the correct ledger here)
11 May 2020
balance of bank loan already debit, how can we again debit such amount, and what is the correct ledger mean? if we do not have any loan persist in current year.
i need a settlement entry to be done in current year...
11 May 2020
Firstly verify what is the actual admitted balance. Make a re-conciliation. Simple send a letter to bank to correct the account. That will adjust automatically.
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