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Receipt of Invoice

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(Querist)
13 July 2023 Hello Sir,

We have raised to invoice (In Euro) to our party which is situated in spain.

Mistakenly they have initiated payment to our Holding company in United Kingdom.

Amount received in Holding Company is in GBP currency as it is situated in UK.

Our Indian books of accounts are still showing that Amount receivable from Spain Party.

What Accounting effect should be given to close this invoice from AR report ? Please guide.
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
13 July 2023 Debit holding company account and credit Spain party account.
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