Entry pass

This query is : Resolved

DEBKUMAR BISWAS (Querist)
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15 April 2016 Head office sent a money to new branch for opening new bank a/c. What entry should made by the Branch in Branch Books and What entry should made by the HO in HO Books ?

CA Puneet B. Gandhi

CA Puneet B. Gandhi (Expert)
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15 April 2016 1) When money is sent by HO:

In the books of HO entry will be
Branch Account Dr
To Cash Account

In the books of Branch:
Cash Account Dr
To Head Office Account

2) When Bank account is opened, only contra entry is required to be passed by Branch:

Bank Account Dr
To Cash Account

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