Earnest money deposit
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
26 September 2011
dear,
please help me with Accounting procedure/steps with issuing EMD till get back / refund of those EMDs.
please help me with Accounting procedure/steps with issuing EMD till get back / refund of those EMDs.
CA Pushpendra Gaur
(Expert)
26 September 2011
Well at the time of depositing the earnest mony
Earnest Money- (Party Name) A/c DR
To Cash/ bank A/c
At the time of refund
CashBank A/c DR
To Earnest Money ( Party Name)
Or you can due the amount to the party name and then can show the receipt and payment in the name of the party
Earnest Money- (Party Name) A/c DR
To Cash/ bank A/c
At the time of refund
CashBank A/c DR
To Earnest Money ( Party Name)
Or you can due the amount to the party name and then can show the receipt and payment in the name of the party
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