I have recieved a payment from hmrc on Friday morning and by the
afternoon it was removed from my bank account by contra entry what does
this mean? Will I recieve the money?
- 2 Answers
- 3746 Views
- ME, I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
Answer / bhavya
Yes it is receipt...In each transaction should pass as soon
as it happens so 1st you should debit party's account (Hmrc)
by taking receipt entry and later contra by debiting your
bank account.
| Is This Answer Correct ? | 10 Yes | 4 No |
Answer / rama chandra mohanty
No the payment is received by cheque or Demand Draft, and
by the afternoon it was withdraw by cash with contra entry.
| Is This Answer Correct ? | 2 Yes | 1 No |
List out things that fall under intangible asset?
What is a accounts? and why have u prepare Accounts only one methods ?have a possible a different pattern?
What do you mean by the word Loss in nominal accounting Give some examples
What is the difference between Balance Sheet and Fund Flow?
suppose total salaries paid is 10000, 1000 is outstanding. how & which amount will shown in receipts & payment, income & expenditure and balance sheet accounts
what are the basic elements to prepare a quarterly information system and how to calculate that items?
What is bank reconciliation statement?
WHAT IS NPF IN ACCOUNTS. AN ENTRY IN BANK STATEMENT" NPF SOME NAME XXXX DR SIDE" PLEASE ANSWER WHAT IS NPF?
What is the purpose of accounts like e.g. expense accounts assigned a account number 0040, principal account assigned anumber 0060.In our general ledger software such numbers are assigned.I want to know how these numbers (accounts) help in maintaing accounts of a company (like bank reconciliation).
What is the disadvantage of double entry system?
what is the difference between proforma invoice , commercial invoice and invoice
goods with drawn by proprietor for household expenses
Audit 
