07 November 2014
Sir I have opening balance of rs 28,00,000 OD BANK A/C when i put in opening balance it shows diff in opening balance how we should put corresponding entry in the liability side OR ANY OTHER SOLUTION
07 November 2014
you must have taken OD of Rs 28,00,000 and not Used that amount
When you make Payment out of it then it will reflect in books through Journal Enteries.
But still if you have opening Balance then you should do the ledger scrutiny and pass the corresponding entry in respective ledgers to whom payment is made or received in OD A/c
07 November 2014
Sir actually 28,00,000 it is a closing balance of 2013-14 when i put the amount as opening balance for 2014-15 i found diff in opening balance
07 November 2014
It is suggesting that you have NOT entered the balances of balnce sheet of 13-14 in entirity. Enter all the balances and the the difference will disappear.
CAclubindia
