Branch Accounting entries
This query is : Resolved
04 July 2021
Dear Sir / Madam
We have a branch office in Bangalore and we are paying expenses like rent salary and also creditors payment of Bangalore Branch office, from our Kolkata Head office Bank account. Please guide me about the Accounting entries.
Regards
Shomenath Pyne
We have a branch office in Bangalore and we are paying expenses like rent salary and also creditors payment of Bangalore Branch office, from our Kolkata Head office Bank account. Please guide me about the Accounting entries.
Regards
Shomenath Pyne
04 July 2021
The entries are,
HO entry.
Bangalore branch account dr
To bank account cr
Branch entry in their books.
Salary/expenses/creditors dr
To HO account cr
HO entry.
Bangalore branch account dr
To bank account cr
Branch entry in their books.
Salary/expenses/creditors dr
To HO account cr
Message likes :
1 times
05 July 2021
Sir, Thank you so much for kind valuable reply, only one more query in this regard, that is
1) In the Bangalore branch book a) HO Account ( under current asset ) ?
2) In the HO Book a) Bangalore branch account ( under current liability ) b) Bangalore Creditors ( under current assets or current liabilities ?
Please Guide me.
Thanks and Regards
Shomenath Pyne
1) In the Bangalore branch book a) HO Account ( under current asset ) ?
2) In the HO Book a) Bangalore branch account ( under current liability ) b) Bangalore Creditors ( under current assets or current liabilities ?
Please Guide me.
Thanks and Regards
Shomenath Pyne
05 July 2021
1 Credit balance current liabilities.
2 Dr balance current asset.
2 Dr balance current asset.
Message likes :
1 times
05 July 2021
Thank you so much sir
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