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Balance Transfer between Ledger

Internal Audit 156 views 3 replies

Gaurav Khiwasara

Practicing Chartered Accountant

25 Points Joined October 2015

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

Replies (3)

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

Gaurav Khiwasara

Practicing Chartered Accountant

25 Points Joined October 2015

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.