If cheque issued for 1400/- and recorded as 1900/- how do
we rectify this error.
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Answer / sridhar
Mr.Snadeep Check your entry. May be you have Reversal
entry in you mind and you did the all in revers.
Issued check to the party (vendor)
Party A/c. Dr 1900
To Bank A/c. Cr. 1900
Now make it reveres for only 500 ie.
Bank A/c. Dr 500
To Party A/c Cr. 500
Now only 1400 Debited to party.
| Is This Answer Correct ? | 26 Yes | 0 No |
Answer / pardeep kumar
Parties A/c Dr 1900
To bank a/c Cr 1400
To Payable A/c Cr 500
| Is This Answer Correct ? | 4 Yes | 5 No |
Answer / punitthakur001
By the concept of sap we can not adjust cheque entry. We can
only reverse this entry and make a new entry of cheque issue
of Rs. 1400.
| Is This Answer Correct ? | 1 Yes | 2 No |
Answer / ronny
MR.....SRIDHAR
AS YOU DID ENTRY ITS ONLY ADJUSTMENT ENTRY
BUT WHEN U RECONCILIATION BANK ACCOUNT U CAN NOT SEE 500 RS.
ENTRY IN BANK STATEMENT. BANK STATEMENT AND COMPANY'S BANK
BOOK SHOULD BE SAME.
THE ANSWER SHOULD BE CHANGE AMOUNT IN THE PREVIOUS ENTRY
WHICH DONE WRONG BEFORE.
| Is This Answer Correct ? | 1 Yes | 2 No |
Answer / sandeep
For cheque issued
Dr Bank...
Cr. Party a/c
Just reverse the excess a/m issued,
Dr. Party
Cr. Bank a/c
| Is This Answer Correct ? | 1 Yes | 7 No |
Answer / accountant
caah a/c dr 1900
To bank a/c 1400
TO suspence a/c 500
| Is This Answer Correct ? | 1 Yes | 8 No |
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