how do we account for money mistakenly credited in firm's bank a/c
2- same for the wrongly debit the a/c and doesn't refund ??
Menu
Bank mistakenly credit the firm's a/c
Replies (3)
Account it as loan and nullify it on repayment
This is a good way
Dr. Loan
Cr. Bank
When they did not refund
Dr. Bad debt written off
Cr. Loan
You may transfer it back to the right Account
Recent Threads
- AGM WITH SHORTER NOTICE
- 15CA/15CB Bulk Filing Automation Tool – Need
- GSTR 9 FY 2023-24 LATE FEE
- Should we go under Section 59 of IBC or Section 27
- HUF'S ISSUE
- Gst interest and penalty doubts
- TDS RATE ON RENT FOR NRI
- NBFC costing
- Taxablity of GSLI under Income Tax
- Final new course clarification
Related Threads
CAclubindia
