Urgent query related to party transaction

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

13 July 2016 Dear All one of our creditor balance was 49780/- as on 31/3/2015 but due to mistake the creditor balance 34780/- is being reflect in books as on 31/3/2015, however return for AY 205-16 has already been filed. pls let me know how to correct the creditor balance now, Regard Manish

Kaushik Joshi

Kaushik Joshi (Expert)
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13 July 2016 Dear Manish, Kindly provide the details as to whether it is a proprietor business, p.firm, company?

Querist : Anonymous

Querist : Anonymous (Querist)

13 July 2016 sir it is partnership firm

Kaushik Joshi

Kaushik Joshi (Expert)
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13 July 2016 pass a rectification entry in current year on the first date and transfer difference rs15000 to capital account.

Querist : Anonymous

Querist : Anonymous (Querist)

13 July 2016 sir, can i pass suspense A/c DR.... To creditor A/c....... Capital A/c DR..... To suspense A/C.... pls tell me is it correct

Kaushik Joshi

Kaushik Joshi (Expert)
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14 July 2016 Dear Anonymous, Why not Capital A/c Dr To Creditor A/c Why the need for suspense account?!

Aashok Kumar Sharma

Aashok Kumar Sharma (Expert)
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02 August 2025 https://docs.google.com/document/d/1_NGzelFKpf0j4rTV9_97TwVI54rOe-TBgu13-1cXHP8/edit?usp=sharing

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