Can anyone please tell me the accouting entry for a bank issuing Letter of Understanding for trade credit in terms of buyers credit
Menu
Letter of Understanding
Replies (3)
There will not be any entry on issuing the letter. Because only on the issuing the letter the transaction doesnot take place. The entry will be done when the transaction is effected. However, on issung the letter, the entry can be made for the charges paid to the bank for the letter.
I want to know from the banks point of view
off balance sheet entry
Recent Topics :
- Gst input credit
- CAN PARTNERSHIP FIRM SIGN SERVICE AGGREMENT WITH A
- E-waybill
- Sell of CAFC books
- ITC ON RENT
- GSTR-9 Table 8A Portal and Excel Issues
- IGST on Commercial Rental Income (Different State)
- Revocation of suo moto cancelled GST registration
- Is there any faculty taking chapterwise test in CA
- Late Fees and Interest
Related Topics :
CAclubindia
