Handling of bank entries

This query is : Resolved

pintu das (Querist)
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13 August 2012 there are a cash credit bank A/C the party deals all the business transaction in this A/C even received of cheque . how i can show the receipt of cheque in entries & p&l and Balance sheet.

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
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14 August 2012 For receipt, entry will be simple:

Bank A/c Dr
To Debtor

The fact that the bank account is a cash credit a/c does not change the basic accounting entries.

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