12 January 2009
Sir, I need a help for treatment of cash deposit in cash credit account in other state. what should be its consequences and what is its remedy to protect from any conflict in accounts.
12 January 2009
All depends upon the source of cash deposited in CC a/c. In case cash has been deposited by any of your customers and an intimation is given which is duly supported by some proof of deposit then you may pass a Journal entry and update your accounts. Remember, you should not pass the cash entries for such type of transactions as your cash balance in hand is never effected by such transaction.
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