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Receipt of payment via different firm

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Querist : Anonymous

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Querist : Anonymous (Querist)
17 August 2017 Hi,

We have two firms one is proprietorship and another one is Pvt. Ltd. company. One of our client has made payment for the invoice of a proprietorship firm into the PVT. Ltd. company bank account. So can we now directly transfer the payment to our another firm or will have to refund and ask the client to make payment again. ?

If we can transfer directly, what will be the entry in the books of pvt. ltd. for this transaction?
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ABHISHEK GARG

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ABHISHEK GARG (Expert)
18 August 2017 It would be better if you ask the party to make the payment again in the correct account.
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