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All QuestionsCategory: GST CompliancesNegative cash balance correction
Profile photo of Kollipara sundaraiahKollipara sundaraiah asked 4 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.

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1 Answers
Profile photo of CA Venu Gopal GellaCA Venu Gopal Gella answered 4 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, 


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