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Accounting process

Accounting Entries 268 views 2 replies

dear all,

I have face some problem regarding accounts. in my company two problem aries and this two problems make me a confusion.

1st:- two company A & B are situated in same management. there management are same. we are company "c" we deals with company B. all the sale invoice we raised to B and B is our sundry debtors. but at the time of receivable amount from B. than Company A transfer money on behalf of B to the bank a/c of C. now in that situation in our books we make an entry for received from A, and showed a liabilite which amount A transfered.

is there any posible to pass a journal in tally in our book between A & B. so B's outstanding is can be set of the payment of A's.?.

 

2nd:- the 2nd problem is the oposit to the 1st option here two company A & B but they are differnet management. A is situated in Nepal whether the compant A is situated in Kolkata. we are company C we raised a invoice to A in Nepal but with the instrustion of A , B company paid NEFT to C company. in that case how we are company C record this transaction.

please help to answer this....

Replies (2)
1st case: write the receipt entry amount received from company A
write journal entry for cancellation of receivables and payable ( adjustment entry). can amounts of company A and B.
same kind of accounting treatment in second case also. but need to get the approval from both the companies before making adjustment entries


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