Payment Entry
This query is : Resolved
05 June 2020
Dear Sir,
We have issue check rs. 1,00,000 Date On 1/3/2020 against our purchase bill. the cheque is not pass in 3month now i have split my company data already how to adjustment entry pass please suggest right Answer
We have issue check rs. 1,00,000 Date On 1/3/2020 against our purchase bill. the cheque is not pass in 3month now i have split my company data already how to adjustment entry pass please suggest right Answer
05 June 2020
REVERSE THE PREVIOUS ENTRY MADE..................
06 June 2020
please share entry in detail
07 June 2020
1st entry what you have did is,
Party A/c Dr. 1,00,000/-
To Bank A/c 1,00,000/-
if you want to reverse in F.Y. 2019-2020 then 2nd entry would be
Bank A/c Dr. 1,00,000/-
To Party A/c. 1,00,000/-
If you want to reverse in F.Y. 2020-2021 then 2nd entry would be same as 2nd but you have to prepare reconciliation statement for the transaction.
Party A/c Dr. 1,00,000/-
To Bank A/c 1,00,000/-
if you want to reverse in F.Y. 2019-2020 then 2nd entry would be
Bank A/c Dr. 1,00,000/-
To Party A/c. 1,00,000/-
If you want to reverse in F.Y. 2020-2021 then 2nd entry would be same as 2nd but you have to prepare reconciliation statement for the transaction.
07 June 2020
Ok Sir Thank you So Much
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