How to adjust dr and cr with two separate parties,
This query is : Resolved
20 February 2013
Dear Sir,
We are "A" company and "B" company is our debtor for Rs.1 Lac,
Now "B" is unable to pay, so he says to collect this money from his debtor "C" company,
So what formalities are authenticated by income tax act and how to we proceeds for this system,
Thanking You,
With Best regards,
Naveen Saini
We are "A" company and "B" company is our debtor for Rs.1 Lac,
Now "B" is unable to pay, so he says to collect this money from his debtor "C" company,
So what formalities are authenticated by income tax act and how to we proceeds for this system,
Thanking You,
With Best regards,
Naveen Saini
20 February 2013
in your Books B has balance of Rs.1 Lac
first you have to collect Rs.1 Lac from C
Bank A/c.....Dr Rs.100000
to C Rs.100000
then you have to adjust B & C A/c
Pass an entry
C A/c.......Dr Rs.100000
To B Rs.100000
it is allowed under income tax for netting
first you have to collect Rs.1 Lac from C
Bank A/c.....Dr Rs.100000
to C Rs.100000
then you have to adjust B & C A/c
Pass an entry
C A/c.......Dr Rs.100000
To B Rs.100000
it is allowed under income tax for netting
20 February 2013
Dear Sourabh,
My question is that practically how to proceeds, like issuing debit note or credit note or BP / BR or anything else,
The Company "C" how can pay to us without instruction of the "B" company,
regards,
My question is that practically how to proceeds, like issuing debit note or credit note or BP / BR or anything else,
The Company "C" how can pay to us without instruction of the "B" company,
regards,
20 February 2013
B endorse his bill to you for which he is receivable from C
and stating the Instruction or a covering stating
that the amount should be paid to you
and stating the Instruction or a covering stating
that the amount should be paid to you
20 February 2013
any particular name of this type letter?
20 February 2013
Endorsement of Bills of Exchange
20 February 2013
Thanks Dear,
16 March 2013
Dear Sourabh,
Do you have it's draft format also,
If yes then please arrange urgent basis,
regards,
Naveen Saini
Do you have it's draft format also,
If yes then please arrange urgent basis,
regards,
Naveen Saini
16 March 2013
March 16, 2013
M/s. C co.
Address
Subject: Settlement of Outstanding through endorsement
Dear Mr. XYZ,
It is to inform you that as per the terms of the P.O. no_______ the bill no ____ is due for payment, but since the same bill is being endorsed to M/s. A co. we request you to pay the amount to M/s. A Co. Address__________on our behalf. Please release the payment to the party mentioned at the earliest.
Thank you for your continued support. We are looking forward to your honor on the said endorsement.
Yours truly
Mr. ABC
Authorized signatory
B Co,
M/s. C co.
Address
Subject: Settlement of Outstanding through endorsement
Dear Mr. XYZ,
It is to inform you that as per the terms of the P.O. no_______ the bill no ____ is due for payment, but since the same bill is being endorsed to M/s. A co. we request you to pay the amount to M/s. A Co. Address__________on our behalf. Please release the payment to the party mentioned at the earliest.
Thank you for your continued support. We are looking forward to your honor on the said endorsement.
Yours truly
Mr. ABC
Authorized signatory
B Co,
16 March 2013
Thanks a lot Dear,
With Best Regards,
Naveen Saini
With Best Regards,
Naveen Saini
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