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Wrong amount received in the bank account

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This query is : Resolved

Rajendra Kumar Das (Querist)

05 April 2019 Sir,
When i checked my bank statement for the month of March 19, i found that Rs.1000 wrongly credited by bank. please suggest me what is the treatment of the above amount in the accounts during annual closing.
1. can i take this amount in the head of 'suspense account' during closing or

MOHAMMED HUSSAIN

MOHAMMED HUSSAIN (Expert)

19 May 2020 Usually if the wrong amount credited to your account, the same will be debited by bank. However, pl check out with the bank on what purpose you have received such amount by asking description. In some cases, you might have received cash back for your earlier purchases which you might have forgotten else, you may book it as suspense account and account for at a later date accordingly.

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