on 10-06-2008 9:32 AM
hi
what is gl account for overpayment /under payment.
it is expense or income a/c
thank u
shusma
there is nothing like overpayment/underpayment ledger account.
If any excess payment made it should be treated as advance payment and underpayment as payable amount.
Considering expense/income...This is purely depends on transaction type.
Vijay
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Hi,
It should be the P&L Account only
Sateesh
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