Menu
Debit card expenses
OUR COMPANY PURCHASED PAID DEBIT CARD RS 20500/- TO USE FOR COMPANIS EXPENSE NOW BANK HAS DEBITED THIS AMT RS 20500 DIRECTLY BY SAYING THAT FIRST YOU SWEFT THIS CARD FOR ANY NOMINAL PURCHASE AN THEN BANK WILL REFUND RS. 20000/- NOW HOW DO I PASS THESES ENTRIES PLEASE ADVISE WITH THEIR ACCOUNTS HEADS AND LEDGERS
Replies (2)
Hello,
It seems they have debited Bank charges for debit card issuance. You can pass entry as
Bank charges 20500
To bank 20500
Mention in narration that the charges are for debit card issuance
On refund of the amount:
Bank Dr 20000
To bank charges 20000
In narration mention that you received refund of debit card issuance charges which was paid earlier.
Thanks,
Tanvi
Agree with Tanvi Sheth
Recent Topic
- AIS UTILITY
- NPS Premature withdrawl -Tier 1 Account
- Provident fund taxation
- ITR3 AY 26-27 Error in filling status
- Queries on TDS as per IT
- Capital Gains set off on Sale of Land if held for
- ITR Form for income from freelance consultancy
- Gst rate for HSN code 28530010
- Health Insurance
- India GST Mobile App
Related Topics
CAclubindia
