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    archana1234's Avatar
    archana1234 Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Sep 8, 2009, 11:27 PM
    Money received by mistake
    Money received by mistake I had informed him but no response. I dom't have any support, How should I do entry in accounts. Under which Accounting Head
    morgaine300's Avatar
    morgaine300 Posts: 6,561, Reputation: 276
    Uber Member
    		  
    #2

    Sep 9, 2009, 12:37 AM

    So you're basically saying you got free money cause you can't get a hold of this person to return it to him? If you're sure it's never going back, just stick it under miscellaneous income.
    Musa89's Avatar
    Musa89 Posts: 6, Reputation: 1
    New Member
    		  
    #3

    Sep 9, 2009, 04:23 AM

    Such entries are credited to a suspense account until the other aspect of the transaction is known.
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