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
Dintakurthi Tirumala
(Expert)
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
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- GST REFUND ISSUE ON PURCHASE OF PLANT AND MACHINERY
- WRONG GSTR7 ENTRIES ACCEPTED ERRONEOUSLY
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
