tally entry..........

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

11 January 2011 Amount debited by bank from current a/c

what would be entry; is it contra entry

what would be cr and db entry in these case

thanks

CMA. Subhash Kumar Jha

CMA. Subhash Kumar Jha (Expert)
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11 January 2011 look for the purpose of the entry....

if its some kind of charges, then it will be entered as payment entry.

if its for a fund transfer or cash withdrawal, then, yes.... a contra entry will be passed

Querist : Anonymous

Querist : Anonymous (Querist)

11 January 2011 sir,
could u please explain.

It is amount debited by bank towards sale deed

if i consider it has charges (payment): what would be the accounts to be credited and debited as there is no cash paid. The bank has debited directly from my account

thanks

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Querist : Anonymous

Querist : Anonymous (Querist)