Bank od regarding
bank od interest nd bank processing charge can we claim in profit nd loss account
Replies (3)
Quick Summary
Yes surely.
in fact you must claim it to find your true profit
in fact you must claim it to find your true profit
Yes.You can taken OD interest to interest ledger and processing charges to bank charges ledger
Interest on Over draft can be claimed and processing charges if debited to bank account then it can be claimed.
Else Journal entry has to be passed if it is adjusted in sanctioned amount
Else Journal entry has to be passed if it is adjusted in sanctioned amount
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