Accounting of branch but having one current Account

This query is : Resolved

Nikhil Sharma (Querist)
Follow

29 December 2025 Dear Sir,
A company has six branch in different states, therefore having separate GSTIN also. But the company has only one current Account. All branches payment, expenses, credit are being done with same bank account.

In this scenario since we have different GSTIN in all states, how to maintain Account of separate branches with one bank Account wherein most of the debit & credit entries are related to other branches.

Pls guide how to tackle this scenario....

Thanks

Aashok Kumar Sharma

Aashok Kumar Sharma (Expert)
Follow

02 January 2026 One bank account with multiple GSTINs is permitted

Maintain Branch Control Accounts for each GSTIN

Route all bank entries via branch control

Book expenses & income branch-wise

Reconcile branch control monthly

GST compliance remains 100% accurate

Nikhil Sharma

Nikhil Sharma (Querist)
Follow

06 January 2026 Sir, In head office books we can do so, but how about the branch Accounts, and record bank entries, matching bank final balance wherein most of the debit & credit entries are pertain to other branch???

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now