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Related to payment voucher

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Muskan Verma

Fresher in accounts department

7 Points Posted on 19 August 2023

XYZ is a company with multiple branches. Each branch has its own separate ledger and purchase voucher entries.For example XYZ ( UP) , XYZ ( Hr.) . However, the financial statement does not mention which branch the payment is for and The company has not made the full payment at once, they have divided it into halves. Therefore, I cannot match the payment amount in the voucher. To determine which branch the payment is for please give me solution so this .

Thanks

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Quick Summary

This discussion addresses a common accounting challenge where a company with multiple branches, each with separate ledgers, faces difficulty in allocating payments. The issue arises because financial statements don't specify the branch, and payments are made in instalments, making voucher reconciliation difficult. The advice given suggests that branch disclosures are often mandatory and recommends collecting payment advice with detailed acknowledgements to resolve the allocation problem.