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Od account : entry for credit sales if customer swipe card?
Hi all I want to know that what is entry if sold a product to customer & he pays by using card I.e. he swipes his card in our Bob machine so what is the sales entry?
In bank statement in particulars column it is written "neft from bobcards Ltd me payment" in deposit column amt is rs. 2000/- so what is the sales entry .
Also my bank account type is OD account.
Replies (2)
Bank A/c Dr.
To Sales A/c
But even if it is an Overdraft account the entry would be same or will it be the opposite. I know sales can't be debited but its just that it's an OD account. And bank a/c is debited so which bank Bob or the united Bank of India actually statement is of united Bank of India an d swiping machine is of Bob. Pls reply all
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