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Payment Entry

This query is : Resolved 
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(Querist)
05 June 2020 Dear Sir,

We have issue check rs. 1,00,000 Date On 1/3/2020 against our purchase bill. the cheque is not pass in 3month now i have split my company data already how to adjustment entry pass please suggest right Answer
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Gokul Sharma

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Gokul Sharma (Expert)
05 June 2020 REVERSE THE PREVIOUS ENTRY MADE..................
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Dikshit Shah

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Dikshit Shah (Querist)
06 June 2020 please share entry in detail


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Murtaza I Bhagat

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Murtaza I Bhagat (Expert)
07 June 2020 1st entry what you have did is,
Party A/c Dr. 1,00,000/-
To Bank A/c 1,00,000/-
if you want to reverse in F.Y. 2019-2020 then 2nd entry would be
Bank A/c Dr. 1,00,000/-
To Party A/c. 1,00,000/-
If you want to reverse in F.Y. 2020-2021 then 2nd entry would be same as 2nd but you have to prepare reconciliation statement for the transaction.
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Dikshit Shah

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Dikshit Shah (Querist)
07 June 2020 Ok Sir Thank you So Much
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