Kollipara sundaraiah asked 5 years ago
Negative cash balance correction
Negative cash balance correction
An I.t. small trader maintained accounting books( day book and ledgers) and all sales and purchases, business expenses transactions up to date. if negative cash balance some different dates( total4 lacs) show in the daybook.
My question how to correct negative cash balance in the daybook.
1 Answers
CA Venu Gopal Gella answered 5 years ago
you might have error in dates of posting, posted expenses ahead of receipits, please correct them; there is no possibility of negative cash balance,
