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Answer Posted / tejas birajdar
Do it at the time of Payament- First you have to check that
whether the check has been reterned in the same month if
yes then you no need to pass the payment entry in your
books as the check has been bounsed. from your a/c only
Debit the bank charges OR you have to reclass the payment
entry from your books if the first payament entry has been
recorded.
Do it at the time of Receipt- No need to pass this entry if
the check bounsed in the same month OR Reclass the receipt
entry from your books if you has been passed.
| Is This Answer Correct ? | 14 Yes | 7 No |
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"A" has two divisions of "B" and "c".In our system we have two vendor accounts of B&C.We have received one Non PO invoice of B and posted wrongly in C and its got paid.While reconciling the account we got this error is happend.We contacted the C and asked for refund.But C said,he transfer internally the amount directly to B and he will not refund the amount.How we will settle this entry in our books. If we reverse the entry...there is one invoice needs to be reverse and payment doc needs to be reverse..how we can settle this in our books...
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