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+--- Thread: Short Term Loan Adjustment !! (/thread-short-term-loan-adjustment)
Short Term Loan Adjustment !! - Mastereyes2003 - 09-08-2016
Dear All,
I am a Branch Manager of some services company.
i keep all the financial records in excel sheet , one file is for all type of expenses and the other is for any sort of cash input including daily sale, cash deposits from head office, last month i asked my monthly cash requirement from head office, which they have sent me a lesser amount for example , i required 300,000.00 Rs but i received 250,000.00, so i took a short term loan of 50,000.00 to meet my expenses.
Now , when i am making the current month requirement , due to better sale , my expenses and income is almost same , mind it that the expenses against that loan are also entered, so i can not get any amount from headoffice , but my loan is still payable.
i need to ask that how this short term loan is needed to be adjust in daily book ( Debit , Credit) or in a Balance sheet ?
RE: Short Term Loan Adjustment !! - Mastereyes2003 - 09-09-2016
What a Funny forum
RE: Short Term Loan Adjustment !! - Schuaeb - 10-18-2016
Your question is not clear. Once repaid you will record the transaction in your books against the outstanding liability. Nothing else needs be done