A'c head for entry
This query is : Resolved
Querist : Anonymous
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 .
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 .
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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