Self balancing ledgers 4

IN CHAPTER SELF BALANCING LEDGER HOW TO TAKE OPENING BALANCE & CLOSING BALANCE WHEN WE HAVE TO PREPARE CONTROL ACCOUNTS UNDER SYSTEM OF SELF BALANCING LEDGERS IF THE OPENING BALANCE OF DEBTOR'S & CREDITOR'S LEDGER IS GIVEN(BOTH DEBIT AS WELL AS CREDIT BALANCE OF THESE LEDGERS)

PLEASE HELP I'M VERY CONFUSED ABOUT THIS QUERY.

THANKS A LOT.

Replies (9)
PLLLLLLLLLL HELLLLLLLPPPPPPPP.

under the self balancing ledger ,all the debtors & creditors are formed in a group that is debtor leger contol & again creditor ledger control account,& for all other item a general ledger control account is opened,the dr may have debit balance & credit balance so post the debit bl in de side & credit balance in credit side in debtor account for opening balance,& post the closing credit balance in debit side & closing debit balance if any into debit side

in simplse sense 

in dr leger

opening debit balance-debit side

opening credit balance-credit side

closing debit balance-credit side

closing credit balance-debit side

THANKS SUMIT BUT IF WE HAVE 2 PREPARE DLAA & CLAA THEN WHT. I SUPPOSE THIS ALL WILL BE REVERSED.

yaa this data i have given for ddebtor ledger control account,for creditor it will reversed

NO SUMIT IF WE HAVE GIVEN G.LEDGER BALANCE THEN ?

jan1-balance of sundry debtor  20000 dr

        balance of sudry creditor  15000 cr

                                                                   in GENERAL leger

            dr                                                                Dlaa                                                                                       cr


        to balance b/d                        20000                                                          

 bocz it is the debtor ADJUSTMENT leger so we just do what we do in normal debot leger

                                                                          in DEBTOR LEDGER

                                                                                     GLAA


 

                                                                                               BY BALANCE B/D                         20000

IT IS THE CORRESPONDING ENTRY GIVEN TO GLAA

 

SUMIT I THINK U BY MISTAKE HAVE WRITTEN WRONG ENTRY IN RESPECT OF DEBTOR LEDGER.

IF Dr BALANCE IS GIVEN AS OPENING BALANCE OF DEBTOR'S LEDGER IT WILL BE ENTERED IN CREDIT SIDE.B'COZ IN G.LEDGER IT IS ON DEBIT SIDE

AM I RIGHT ?

not mistaken ,may be system problem,but one thing remberber the dlaa=normal debtor leger

& claa=normal creditor ledger,& glaa in debtor & creditor ledger is just a compliance

THNX A LOT  SUMIT

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