AKSHIT MALHOTRA (C.A Final Student) (1337 Points)
09 April 2012
IN CHAPTER SELF BALANCING LEDGER HOW TO TAKE OPENING BALANCE & CLOSING BALANCE WHEN WE HAVE TO PREPARE CONTROL ACCOUNTS UNDER SYSTEM OF SELF BALANCING LEDGERS IF THE OPENING BALANCE OF DEBTOR'S & CREDITOR'S LEDGER IS GIVEN(BOTH DEBIT AS WELL AS CREDIT BALANCE OF THESE LEDGERS)
PLEASE HELP I'M VERY CONFUSED ABOUT THIS QUERY.
THANKS A LOT.
AKSHIT MALHOTRA
(C.A Final Student)
(1337 Points)
Replied 10 April 2012
Sameer
(EXPERT)
(173 Points)
Replied 10 April 2012
under the self balancing ledger ,all the debtors & creditors are formed in a group that is debtor leger contol & again creditor ledger control account,& for all other item a general ledger control account is opened,the dr may have debit balance & credit balance so post the debit bl in de side & credit balance in credit side in debtor account for opening balance,& post the closing credit balance in debit side & closing debit balance if any into debit side
in simplse sense
in dr leger
opening debit balance-debit side
opening credit balance-credit side
closing debit balance-credit side
closing credit balance-debit side
AKSHIT MALHOTRA
(C.A Final Student)
(1337 Points)
Replied 10 April 2012
Sameer
(EXPERT)
(173 Points)
Replied 10 April 2012
yaa this data i have given for ddebtor ledger control account,for creditor it will reversed
AKSHIT MALHOTRA
(C.A Final Student)
(1337 Points)
Replied 10 April 2012
Sameer
(EXPERT)
(173 Points)
Replied 10 April 2012
jan1-balance of sundry debtor 20000 dr
balance of sudry creditor 15000 cr
in GENERAL leger
dr Dlaa cr
to balance b/d 20000
bocz it is the debtor ADJUSTMENT leger so we just do what we do in normal debot leger
in DEBTOR LEDGER
GLAA
BY BALANCE B/D 20000
IT IS THE CORRESPONDING ENTRY GIVEN TO GLAA
AKSHIT MALHOTRA
(C.A Final Student)
(1337 Points)
Replied 10 April 2012
SUMIT I THINK U BY MISTAKE HAVE WRITTEN WRONG ENTRY IN RESPECT OF DEBTOR LEDGER.
IF Dr BALANCE IS GIVEN AS OPENING BALANCE OF DEBTOR'S LEDGER IT WILL BE ENTERED IN CREDIT SIDE.B'COZ IN G.LEDGER IT IS ON DEBIT SIDE
AM I RIGHT ?
Sameer
(EXPERT)
(173 Points)
Replied 10 April 2012
not mistaken ,may be system problem,but one thing remberber the dlaa=normal debtor leger
& claa=normal creditor ledger,& glaa in debtor & creditor ledger is just a compliance
GSTR 9 and 9C for FY 23-24 as amended by Notification 12/2024 dated 10th July 2024(with recording)
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