Fund transfer from Branch to Head office

This query is : Resolved

shomenathpyne (Querist)
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11 August 2020 Dear Sir / Madam

We have a branch office in Bangalore and we transferred fund from our Bangalore Branch office's bank account to Kolkata Head office Bank account.
Please guide me about the Accounting entries.

With Regards
Shomenath Pyne

CA KARAN SINGH

CA KARAN SINGH (Expert)
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11 August 2020 In Branch's books of accounts
Head office A/c Dr. XXXXX
Bank A/c (Cr.) XXXXX
In HO. Books of Accounts
Bank A/c Dr. XXXXX
Bangalore Branch Ofice (Cr.) XXXX

shomenathpyne

shomenathpyne (Querist)
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11 August 2020 Thank You So Much Sir

CA KARAN SINGH

CA KARAN SINGH (Expert)
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11 August 2020 Most Welcome. Glad to help you.

shomenathpyne

shomenathpyne (Querist)
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11 August 2020 Dear Sir
Please advise " Under which head , I shall open Head office A/c in Branch Book, Similarly in Head office Book, Under which head I shall open Bangalore Branch Office Account??
With Regards
Shomenath Pyne

CA KARAN SINGH

CA KARAN SINGH (Expert)
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11 August 2020 Under Inter Unit head, in books of accounts of B.O. as well as H.O.

shomenathpyne

shomenathpyne (Querist)
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11 August 2020 Sir, Is it means that it will be under "Current Assets or Liability ?
With Regards
Shomenath Pyne

CA KARAN SINGH

CA KARAN SINGH (Expert)
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11 August 2020 In B.O. - Create under Current Assets.
In H.O. Create under Current Liability

shomenathpyne

shomenathpyne (Querist)
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11 August 2020 Sir, Now it is Clear, thank you so so much.
With Best Regards
Shomenath Pyne

CA KARAN SINGH

CA KARAN SINGH (Expert)
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11 August 2020 You are most welcome. Glad to help you

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Fund transfer from Branch to Head office

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