Opening of bank balance
This query is : Resolved
19 April 2019
sir,
There is a difference in my closing bank balance according to the bank and my opening of bank balance in accounts.how could i pass an entry to tally with my bank balance so that my balance sheet shows no differences.
There is a difference in my closing bank balance according to the bank and my opening of bank balance in accounts.how could i pass an entry to tally with my bank balance so that my balance sheet shows no differences.
Shashikant Varshney
(Expert)
19 April 2019
ASK BANK TO CLEAR THE DIFFERENCE. UP TO THAT TIME PASS THE ENTRY IN TO SUSPENSE ACCOUNT.
MOHAMMED HUSSAIN
(Expert)
19 May 2020
In some cases, closing balance balance may change because of bank charges or any other charges like ATM card issue charges, auto insurance charges, etc. Pl take a statement from bank and pass entry in the books of accounts accordingly if it is not possible, book the said amount under suspense account and rectify it at a later date. Best wishes.
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