Sir,
A person Give office on rent to the company. Company Give 2 Month security deposit of Rs. 22500*2 =45000/- to the person in the year 2017-18
But In the books of Person did not entry of security deposit by mistake in the year 2017-18 and subsequent years.
Now how to entry of security deposit in 2019-20?
Anoop Jain
Mob . 91110-65332
1 Replies
Thiyagarajan Kandasamy
(118 Points)
Replied 25 November 2020
Yes we can account in the mentioned financial year, but on that time amount received by cash or bank what the treatment of that transaction, if it was not considered as advance, we passed the rectification entry and moved to advance in the mentioned financial year
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