10 January 2013
Hello, In the previous year 2011-12,I have passed one receipt entry for Sundry Debtors(payment belonged to 2010-11)and mistakenly forgot to put opening balance of that debtor.Result is that,in the current year same amount is standing as credit balance.Can anyone tell me how to resolve/rectify? Thanks in advance
Guest
Guest
(Expert)
10 January 2013
You should consider the option of entering the opening balance in the Debtors A/c because it cannot be taken to the income as it has been charged to income in the year 2010-11. Also if its an individual, you can add it to the Capital A/c
CAclubindia
