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journal.entry

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accounts
383 Points Posted on 21 September 2018
what entry will be passed if we had made excess payment to our creditor and our creditor had closed our account in his books.....
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On 21 September 2018 at 22:43 Report
Replies (7)
Guest
You can ask to creditor for refund excess payment
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On 21 September 2018 at 22:52
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accounts
383 Points Posted on 21 September 2018
what journal entry will be passed
2 Reply
On 21 September 2018 at 23:05
Guest
If party refund the amount than you can pass receipt entry
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On 21 September 2018 at 23:09
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CA - Final
1367 Points Posted on 22 September 2018
Party Account Dr.
Bad debt written off a/c Dr. (excess payment amt)
To Bank Account
4 Reply
On 22 September 2018 at 10:17
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GST Practitioner
55067 Points Posted on 22 September 2018
Show it as advance to customer
301 Reply
On 22 September 2018 at 10:20
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CA - Final
1367 Points Posted on 22 September 2018
It cannot be shown as advance since the book of creditor is already closed
4 Reply
On 22 September 2018 at 10:22
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GST Practitioner
55067 Points Posted on 22 September 2018

THEN ASK THE SUPPLIER WHERE HE HAS ADJUSTED YOUR PAYMENT

301 Reply
On 22 September 2018 at 20:03


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