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Adjustment of balance amount

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Querist : Anonymous

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Querist : Anonymous (Querist)
28 June 2017 Dear sir/mam.
how to adjust the balance amount received by debtors. suppose i have sold the goods Re. 15607 but at the time of payment the customer has given the cheque of Re. 15600 he will not pay balance Re. 7, in books Re. 7 is still reflecting in his ledger. pls clarify how to adjust this balance Re. 7 & in which head.

Thanks
Prachi
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CA Saloni

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CA Saloni (Expert)
28 June 2017 Rs 7 is a nominal amount. You can write off in the books.Its your bad debts.
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Querist : Anonymous

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Querist : Anonymous (Querist)
28 June 2017 Mam... this issue arise even in case payment made to vendor lets take the above example in respect of payment made to vendor. suppose we have issued the cheque of Re. 15600 instead of 15607 against purchase Then How the rest amount Re. 7 will be adjust & in which Head will it be indirect Income
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