Secured loans from Bank is showing Debit balance ?

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harish .k (Querist)

17 March 2011
Hi to every one

I have a query regarding Secured loans from Banks (financial institutions ) is showing debit balance in Trial balance ??? what does it mean whether they are receivable by the company or what??

PlZ clarify as soon as possible

if i am wrong please correct me

thanks in advance

Harish

CA KRISHNA KUMAR DARUKA

CA KRISHNA KUMAR DARUKA (Expert)

17 March 2011 You have to perform ledger scrutiny of the said account. Look for confirmation. Look whether interest paid is debited to this account. There can be many possibilities.

harish .k

harish .k (Querist)

23 March 2011 thanks for replying sir

Pankaj Gandhi Jaiswal

Pankaj Gandhi Jaiswal (Expert)

12 June 2011 First reconcile the bank loan statement and your ledger accounts and then come to the conclusion there may be many possibilities like double payment entry made by you or excess paid by you or due to any wrong entry is also possible, 1st do reconciliation

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