Hello every one, i have problem in difference in opening balance, in my company long term loan not show in the last finalcial year, now i am enter the amount in opening balance, then it show opening balance diffence in trial balance , what is soultion. pleas help me
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Difference in opening balance
Replies (4)
Do entry on 1st april
how to pass the entry
see, we are following double entry system. so for every debit there should be credit.
in your case you have raised liability, so you should either raise assets or reduce amount from liability side.
if you have info regarding loan fund, simply you can raise entry. otherwise adjust with capital.
in your case you have raised liability, so you should either raise assets or reduce amount from liability side.
if you have info regarding loan fund, simply you can raise entry. otherwise adjust with capital.
Adjust the loan amount against capital account
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