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Bank entry

Pankaj Goutam (5 Points)

18 October 2018  


if a customer give a cheque to a company for his/her emi. when the company diposite that cheque for clearing perpose in case of insuffient balance that cheque is bounce i thingh three entry we have to do one in receipt(cheque received entry), payment(cheque refund entry),an journal (bank charges with gst) can you please show me those entry i am confuse 

 5 Replies

rahul (a) (1620 Points)
Replied 18 October 2018

bank dr
customer cr

customer dr
bank cr

with return charges

no company bear charges

Bhanu (hyderabad) (1594 Points)
Replied 19 October 2018

agreed with rahul
1 Like

Pankaj Goutam (5 Points)
Replied 19 October 2018

ok you mean 

in receipt

D    Corporation Bank    3,990.00    
C    Soran Singh(34-18-bl)        3,381.00
C    Interest on Loan        609.00

   in payment
D    Soran Singh(34-18-bl)        3,381.00
D    Interest on Loan        609.00

C    Corporation Bank    3,990.00 

in journal

D    Soran Singh(34-18-bl)    350.00    
C    Bounce Charge        350.00

and again in payment bank charges that amt deduct from our a/c

D    cheque bounce Charges    60.00        Agains soran singh
D    Goods And Services Tax    10.80        
C    Corporation Bank        70.80    

is it right

rahul (a) (1620 Points)
Replied 19 October 2018

wrong entry dear

try to minimise your entry for smooth and better account


corp dr 3990
soran cr 3381
int cr 609

cheque bounce
soran dr 3731
int dr 609
corpo cr 4340

why comp debit his account fir return charges

if want then

cheque bounce charges

soran dr 3381
int. dr 609
corp 3990

bounce ch dr 350
corp cr 350

soran dr 350
bounce ch cr 350

Pankaj Goutam (5 Points)
Replied 21 October 2018

and where i will do this entry 

find the attachment below 

Attached File : 2592292 20181021115304 capture.jpg downloaded: 28 times

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