Fund transfer from Branch to Head office
This query is : Resolved
Quick Summary
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
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
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
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
11 August 2020
Thank You So Much Sir
11 August 2020
Most Welcome. Glad to help you.
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
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
11 August 2020
Under Inter Unit head, in books of accounts of B.O. as well as H.O.
11 August 2020
Sir, Is it means that it will be under "Current Assets or Liability ?
With Regards
Shomenath Pyne
With Regards
Shomenath Pyne
11 August 2020
In B.O. - Create under Current Assets.
In H.O. Create under Current Liability
In H.O. Create under Current Liability
11 August 2020
Sir, Now it is Clear, thank you so so much.
With Best Regards
Shomenath Pyne
With Best Regards
Shomenath Pyne
11 August 2020
You are most welcome. Glad to help you
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