Opening balance of sundry debtors
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
05 February 2013
hello,
There was a closing balance of sundry debtor in the year 2010-11. In the year 2011-12, I forgot to put that closing balance as opening balance in Tally(Financial was prepared 1st time for the proprietor in 2011-12). Now in year 2012-13, same amount is stand as credit balance of that Debtor. What should I do to rectify ?
Thanks
There was a closing balance of sundry debtor in the year 2010-11. In the year 2011-12, I forgot to put that closing balance as opening balance in Tally(Financial was prepared 1st time for the proprietor in 2011-12). Now in year 2012-13, same amount is stand as credit balance of that Debtor. What should I do to rectify ?
Thanks
05 February 2013
Don't worry now reverse the entry to capital and create debtors by passing JV. entry is
Debtors a/c dr
To Capital a/c
(Being unfortunately debtors balance as on 31-3-2011 is set-off with the capital balance as on 31-3-2011 and opening balance considered no the rectification entry passed and corrected)
OM SAI SRI SAI JAI JAI SAI
Debtors a/c dr
To Capital a/c
(Being unfortunately debtors balance as on 31-3-2011 is set-off with the capital balance as on 31-3-2011 and opening balance considered no the rectification entry passed and corrected)
OM SAI SRI SAI JAI JAI SAI
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