Branch reconciliation
This query is : Resolved
28 February 2019
Dear Sir,
I have a question regarding branch reconciliation and how to know about below query.
A company has 150 branches in all over the india
One day a customer purchase product from a branch which is established in delhi and paid another branch but don't know in which branch he made our delhi branch payment.
In this case how to reconcile payment and how to make journal entry regarding this situation.
Thanks & Regards
Rahul Rana
Pursuing IPCC
I have a question regarding branch reconciliation and how to know about below query.
A company has 150 branches in all over the india
One day a customer purchase product from a branch which is established in delhi and paid another branch but don't know in which branch he made our delhi branch payment.
In this case how to reconcile payment and how to make journal entry regarding this situation.
Thanks & Regards
Rahul Rana
Pursuing IPCC
28 February 2019
You can ask from customer as to which branch he had paid the amount. Else you can check ledger of such customer in all branches.
Entry for this would be
In the books of Original branch
Branch which received payment a/c dr
To customer A/c
In Branch which had received payment
Customer A/c Dr.
To Original Branch A/c.
Entry for this would be
In the books of Original branch
Branch which received payment a/c dr
To customer A/c
In Branch which had received payment
Customer A/c Dr.
To Original Branch A/c.
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