What is the entry for ?

This query is : Resolved

Don Bosco (Querist)
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21 August 2011 Dear Sir / Mam,
Please tell me how to make entry in tally for the following Transactions:

1. In the previous year balance sheet they have shown some bank balances for which the bank accounts have been closed in the previous year itself. But still this amount is carry forwarded. Please tell me how to close this bank accounts this year.

2. In the previous year b/s they have shown some bank Credit balances as Bank loan, but actually it is not bank loan it is stale cheques which is still there with party since in that account there was no balances. Shall we treat it has other liabilities. Please tell me how to make entry for this.

Please do the needful
Thanks & Regards,
Don Bosco

Ravi Jhamb

Ravi Jhamb (Expert)
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21 August 2011 1. When bank account closed then bank gives us the deposit balance DD in favour of the account holder name. so you shuld me entry from one account to other

xyz bank a/c dr.
To abc bank A/c

2. you transferred all stale account in receipt voucher.

Bank A/c
To Stale A/c
Give all necessary detail in naration or referecne.