Please advise an accounting entry for RTGS made from PSB Bank to HDFC Bank . The RTGS returned due to some technical reason before credited in to HDFC Bank and credited back to PSB Bank. The HDFC Bank is not affected in this transaction.
Regards
Rajender Verma (ACCOUNTS MANAGER) (28 Points)
18 December 2018Please advise an accounting entry for RTGS made from PSB Bank to HDFC Bank . The RTGS returned due to some technical reason before credited in to HDFC Bank and credited back to PSB Bank. The HDFC Bank is not affected in this transaction.
Regards
Charan Raju
(132 Points)
Replied 18 December 2018
Hi Rajender,
Can you please confirm whether you are charged for this transaction or RTGS charges also got reversed?
satish
(teaching)
(2046 Points)
Replied 19 December 2018
Rajender Verma
(ACCOUNTS MANAGER)
(28 Points)
Replied 21 December 2018
No Sir,
We are not charged for this RTGS
Aman Kumar
(Accounts Executive)
(744 Points)
Replied 21 December 2018
You Can Revesal Entry,when you transfered to HDFC Bank is
HDFC Bank Dr
To PSB Bank A/C
When payment reverse in your Account,So Entry is
PSB Bank Dr
To HDFC Bank.
Charan Raju
(132 Points)
Replied 23 December 2018
Hi,
This is a contra Entry.
Reversal Entry is
HDFC Bank A/c...........................Dr
To PSB Bank A/c.
Even if HDFC bank is not effected. We are debiting the HDFC bank is to reverse previous credit. Thus nullifying the effect.
CAclubindia
