Bank loan wrongly passed

This query is : Resolved

Rahul (Querist)
Follow

11 May 2020 Hi

there is a wrong debit balance in name of bank loan account, and no such bank loan exists in book of account, so how can be removed such error in our current year books.

Spurto Consultancy Services

Spurto Consultancy Services (Expert)
Follow

11 May 2020 If the bank have wrongly transferred the loan amount to your account then contact the bank branch.
Further, if wrong journal entry have been passed in books of accounts then reverse the journal as below:
Bank Loan A/c Dr.
To _________ A/c Cr. (mention the correct ledger here)

Rahul

Rahul (Querist)
Follow

11 May 2020 balance of bank loan already debit, how can we again debit such amount, and what is the correct ledger mean? if we do not have any loan persist in current year.

i need a settlement entry to be done in current year...

Soumitra Basu

Soumitra Basu (Expert)
Follow

11 May 2020 Firstly verify what is the actual admitted balance. Make a re-conciliation. Simple send a letter to bank to correct the account. That will adjust automatically.

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

Join the CA Students WhatsApp Community for ICAI Updates, Trending Courses & Notes!

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

UPENDRAN YADAV

ramesh kumar

Ashutosh Purohit

MUNISH KUMAR

efiletax

Subscribe Now

Bank loan wrongly passed

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Senior Executive

Manager- Finance and Compliance

GST CONSULTANT

GST CONSULTANCY

Accountant

CA Final

Article Assistant

Associate CA