FOREIGN BRANCH
This query is : Resolved
ANIL DUBEY
(Querist)
12 September 2009
HI I AM ANIL FROM TRAVEL DESIGNER.
WE HAVE OPENED A BRANCH IN DUBAI FOR OUR BANKING PERPOS. TOTAL OPERATION DONE FROM AHMEDABAD. WE HAVE OPENED A BANK ACCOUNT IN DUBAI STAN CHARTERED. WE HAVE BALANCE IN DUBAI ACCOUNT. WE HAVE SORTAGE OF CASH FLOW IN AHMEDBAD. IN THIS CONDITION CAN I MAKE THE PAYMENT OF INDIA OFFICE FROM DUBAI BANK ACCOUNT. IF IT IS POSSIBLE, WHAT WILL ACCOUNTING ENTRY.
WE HAVE OPENED A BRANCH IN DUBAI FOR OUR BANKING PERPOS. TOTAL OPERATION DONE FROM AHMEDABAD. WE HAVE OPENED A BANK ACCOUNT IN DUBAI STAN CHARTERED. WE HAVE BALANCE IN DUBAI ACCOUNT. WE HAVE SORTAGE OF CASH FLOW IN AHMEDBAD. IN THIS CONDITION CAN I MAKE THE PAYMENT OF INDIA OFFICE FROM DUBAI BANK ACCOUNT. IF IT IS POSSIBLE, WHAT WILL ACCOUNTING ENTRY.
M Prabhakar Menon
(Expert)
12 September 2009
In the Ahmedabad books u will have to open a Dubai Branch A/c and route all Branch transactions through this a/c Normal entries for accounting local transactions will apply to branch also only while accounting the amt recd/paid in rupees will appear in your books.
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