fund transfer

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 i want to know  what is the fund transfer.and what about the joural entry that.

Replies (1)

Fund Transfer means sending money  from HEAD OFFICE to BRANCHOFFICE or viceversa

Journal Entry is

Branch Bank A/c        Dr

     To Head office Bank a/c

(Being money of frund transfer from Head office to Branch)

Head office Bank a/c       Dr

     To Branch Office Bank  a/c

(Being money recieved from branch)

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