Closure of Secured Loan Account

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thotasrinivas (Querist)
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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.

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KAVIRAJA ADDANGADI

KAVIRAJA ADDANGADI (Expert)
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13 May 2020 What is the difference , there may be some entry which is missing reconcile from loan repayment statement

thotasrinivas

thotasrinivas (Querist)
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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.

Aashok Kumar Sharma online

Aashok Kumar Sharma online

(Expert)
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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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