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Opening balance
I HAVE A CAR LOAN FROM BANK CAN I NEED TO TAKE OPENING BALANCE IN THIS
FINANCIAL YEAR
Replies (9)
yes u should. you can adjust the same to capital ac
But car loan account under loan liability head
then create equivalent head of asset under fixed assets
thanx mam
you entered to opening
1 car loan
Car fixed Assests
THANX SIR FOR REPLY
yes u should. you can adjust the same to capital ac
In the liabilities side ,outside liabilities are increased with a particular Amt and the same was increased on the assets side of B/s and it will be passed to the subsequent year.
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