Accounting entries

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

01 August 2013 The receipt of R300 000 form a customer in April 2013 was not allocated to the relevant general eldger account during the year .(It appears on the bank statement only) .The year end is 30 June 2013 .

What are the correct entries to process in order to bring this into our books for the 30 June 2013 financial statements?

The accounting system is still open to process entries that relates to 30 June 2013 fnancial year.

FCMA CS Pardeep Khaneja

FCMA CS Pardeep Khaneja (Expert)
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02 August 2013 It will reflect in your bank reconciliation statement, until you will make entry in your books and also your debtors will show outstanding balance as on 30th June for the same amount.

If accounting system is open in that case you pass simple entry below:

Bank A/c Debit 300000
Sundry Debtors Credit 300000