Balance Transfer between Ledger

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Practicing Chartered Accountant
25 Points Posted on 14 October 2020

Please Guide,

Transfer of Ledger Balance from One Ledger to Another Ledger in Books with different PAN is allowed?

Is any provision from any law blocks this type of transactions?

For Eg, receivable from Mr A is adjusted with advance received from Mr B

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On 14 October 2020 at 00:03 Report
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7 Points Posted on 14 October 2020
As far I know it is allowed if the transaction happens really. but here I am not able to understand the point is why do you want to transfer the balance from one a/c to another a/c. have you passed this entry by mistake. It's totally depends on case to case basis
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On 14 October 2020 at 00:29
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Practicing Chartered Accountant
25 Points Posted on 14 October 2020
Mr A have some receivable from Mr B in there direct transactions. I am not involved in that transaction.

I received money from Mr B in last month, but now he wants me to transfer the same to Mr A's ledger in my books.
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On 14 October 2020 at 01:23
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Chartered Accountants
75 Points Posted on 14 October 2020
No it's not advisable you should return money to mr. b and received it from mr. a otherwise you have to face problems in assessment
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On 14 October 2020 at 06:50

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