Branch accounts

This query is : Resolved

Mahendra Shripat Jadhav (Querist)
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14 September 2013 IF a firm has branches, what entries should be passed in Head office A/c to take effect or branch A/c. How Branch stock would be merged in Head office? Please help.

Ganeshbabu K

Ganeshbabu K (Expert)
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15 September 2013 in books of head office there will be branch account and in the books of branch there will be headoffice
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first you need to tally both means both accounts balance should be equal
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once equaled,,branch account balance in headoffice represents networth of company,,means
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branch account balance in ho books = assets -liabilities of branch

consolidate financials accordingly
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