Confusion in 2 companies of same owner
This query is : Resolved
13 February 2014
I have one query . Suppose Mr. x owes 2 companies i.e. company A and Company B. company A sold of rs. 15000/- but amount recieved by Comapany B. so what should be entry in tally.
please mail me solution as early as possible.
my mail id is jpriya67@yahoo.com
please mail me solution as early as possible.
my mail id is jpriya67@yahoo.com
13 February 2014
it will be like loan given by co a to b and then given back by b co
13 February 2014
I dont get it. bcos if we show such loan . debtors in company A will show payble amt (outstanding). please tell me in deep.
13 February 2014
once it shows debtors immedtly pass reverse entry when b co pays to a co its just book entry as payment is rec by b.
13 February 2014
I pass entry as follows. tell me is this correct:
In A company :
Mr x(Debtors) A/c ..... Dr.
to sales A/c
and pass journal entry for adjustment
Company B A/c...........dr.
to Mr. X a/c
so that Mr. X Account will nil and no outstanding will remain.
Is this correct sir.
In A company :
Mr x(Debtors) A/c ..... Dr.
to sales A/c
and pass journal entry for adjustment
Company B A/c...........dr.
to Mr. X a/c
so that Mr. X Account will nil and no outstanding will remain.
Is this correct sir.
13 February 2014
ya you have booked correct entry just enter proper narration to both sep entries so that later u can identify.
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13 February 2014
you are welcome priya...
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