We are giving Gold Loan to customer. If a customer gets 10000 rs for loan this year. In end of the year he could not redeem his jewels, so some interest will be added as per schemes.
05/07/2014 - Customer gets Loan Rs.10000
12/10/2014 - Customer Pays a Receipt of Rs.1000
31/03/2014 - In year End, His balance is Rs.10850 as per interest calculation.
here is my query, How to transfer this loan to next year? How to calculate Trail balance for this account? What is the Opening balance of next year? 9000 or 10850. pls guide me
CAclubindia
