Book overdraft

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Querist : Anonymous

Querist : Anonymous (Querist)

22 December 2015 what is book overdraft?

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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22 December 2015 In the books of account the bank account show it as overdraft but actually in the bank account there is no overdraft this is called book overdraft. This situation arises mainly on account of cheque issued but not presented for payment.

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Querist : Anonymous

Querist : Anonymous (Querist)

22 December 2015 thax sir,when entering openig bal in next year is there requirement of entering seprately book debt i,e separately the detail of each creditors or should i creat under one head and in that?

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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23 December 2015 You need to maintain separately details of each creditors and debtors.

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