Accounting entry

649 views 1 replies

I have Following Query

1) We Have 2 Current A/c. In Bank Namely  ABC & 123.

2) Our Co. has a Division One Is Mumbai & Surat.

3) We have Recd. a Chq. of Rs.15 Lacs and wrongly deposited in A/c. No. 123 Instead of ABC, the Bank has accepted the same and transaction has been completed. The Cheque was belonging to surat which has a account in Mumbai.

4) When came to our we have made a transfer to A/c. No. ABC from 123.

5) The Entry has been posted as receipt & payment made.

6) Which entry has to be made in surat., because the chq. recd. from the client belong to surat where we have created his account.

can anybody tell me how to post the entry.

Replies (1)

This is a Case Branch Account

 

Surat :-

When received Amount which Belongs to Mumbai

Bank A/c Dr 15L

TO Mumbai Branch A/c 15L

HO will be Reflect In liabilities Until amount clear to Mumbai

when payment is made

 Mumbai Branch A/c DR 15L

To Bank  15L

 

MUMBAI

When Surat receive Funds in Behalf of Mumbai Branch

Surat Branch a/c DR 15 L

TO Party A/c 15 L

When Surat Clear Money to Mumbai Branch

Bank A/c DR 15L

To Surat Branch A/c Cr 15L


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