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A'c head for entry

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Querist : Anonymous

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Querist : Anonymous (Querist)
31 January 2013 Suppose through bank amount has been paid to one of the employee using NEFT facility Rs.2000/- but bank has paid wrongly Rs.2500/- After communication with bank for the same bank has agreed its mistake and pass reverse entry of Rs.500/-

Entry made by comapny,

Party A/c 2000/- Dr
bank A/c 2000/- Cr

But under which a/c head remaning Rs.500/- entry should be processed. Wheter as bank charges or penalty which afterwords may be reversed with narration.
Plz help on this .
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CA Kishore Tallam

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CA Kishore Tallam (Expert)
08 February 2013 This may be accounted directly to the party only as excess payment and then reverse with narration.
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