I have a query regarding Secured loans from Banks (financial institutions ) is showing debit balance in Trial balance ??? what does it mean whether they are receivable by the company or what??
17 March 2011
You have to perform ledger scrutiny of the said account. Look for confirmation. Look whether interest paid is debited to this account. There can be many possibilities.
12 June 2011
First reconcile the bank loan statement and your ledger accounts and then come to the conclusion there may be many possibilities like double payment entry made by you or excess paid by you or due to any wrong entry is also possible, 1st do reconciliation
CAclubindia
