Urgent query related to party transaction

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Querist : Anonymous

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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

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

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Querist : Anonymous

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Querist : Anonymous (Querist)
13 July 2016 sir it is partnership firm

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

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Querist : Anonymous

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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

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

02 August 2025 https://docs.google.com/document/d/1_NGzelFKpf0j4rTV9_97TwVI54rOe-TBgu13-1cXHP8/edit?usp=sharing


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