Closure of Secured Loan Account
This query is : Resolved
13 May 2020
We closed vehicle loan through payment of all EMIs but in books shown pending balance , how to adjust and tell me the closure account proceedings in Books of accounts.
Thanking You...
Thanking You...
13 May 2020
What is the difference , there may be some entry which is missing reconcile from loan repayment statement
14 May 2020
in previous years not reconciled properly due to that after clearing loan there is some balance amount shown as due to pay in Books of accounts.
21 May 2020
We can ask the full loan statements and see if there is any outstanding payable. If no O/S is there you might have not reconciled the statements properly.
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