Performa (Branch Accounting)

ACCOUNTING SOLUTIONS SCO: 209, First Floor, Sector-36/D. Chandigarh Chandigarh (M): 0172-5017149, 0172-5017149, 9876149390,9915169925 BRANCH ACCOUNTING DEBTORS SYSTEM

In the Books of H.O.

BRANCH ACCOUNT Particulars To Branch Assets (O. Balance) -Stock -Debtors -Petty Cash -Prepaid Expenses -Furniture etc. To Goods Sent to Branch *** Less: Returns *** To Cash/bank A/c (Expenses) To General P & L A/c (Profit) To Branch Liabilities (Closing Bal.) -Outstanidng Expenses -Creditors etc.

Rs.

**** **** **** ****

**** ****

Particulars By branch Liabilities (Op. balance) -Outstanidng Expenses -Creditors etc. By cash/bank a/c (Remittance) -Cash shares -Collection from Debtors By General P & L A/c (Loss) By branch Assets (Closing Bal.) -Stock -Debtors -Petty Cash -Prepaid Expenses -Furniture etc.

Rs.

**** *** ***

**** ****

**** ****

FINAL ACCOUNT SYSTEM

BRANCH TRADING AND PROFIT & LOSS ACCOUNT Particulars To Opening stock (at cost price) To goods sent to Branch (at cost price) *** Less: Returns *** To direct Expenses To Gross Profit c/d

To Indirect Expenses To net profit transferred to General Profit & Loss A/c

Particulars To Balance b/d (i.e. net assets of the branch at the Beginning of the year) To Goods Sent to Branch *** Less: Returns *** To Cash/Bank A/c (Expense) To General P & L A/c (Net Profit)

Rs. ****

**** **** **** **** ****

Particulars

By Sales: -Cash -Credit Less: Sales Returns By Closing stock (at cost price)

Rs.

*** *** *** ***

By Gross Profit b/d By Miscellaneous Income

**** ****

****

In the Books of H.O. BRANCH ACCOUNT (PERSONAL) Rs. Particulars By Cash/bank a/c (Remittance) -Cash Sales **** -Collection from Debtors

**** **** **** ****

**** **** **** **** ****

By General P & L A/c (Net Loss) By balance c/d (i.e. Net assets of the branch at the end of the year)

Rs.

*** ***

**** **** **** ****

STOCK AND DEBTORS SYSTEM

Under this system, the H.O. maintains the following accounts for keeping record of branch transactions: 1.

Branch Stock Account.

2.

Branch Debtors Account.

3.

Branch Expenses Account.

4.

Branch Adjustment Adjustment Account Account (For (For calculation calculation of Gross Profit or Gross Loss).

5.

Branch Profit Profit & Loss Account Account (For (For calculation calculation of Net Profit or Net Loss).

6.

Goods Sent to Branch Account.

1

SCO:209,F.F. Sector-36/D Chandigarh. 0172-5017149,9876149390, 0172-5017149,9876149390, 9915169925,

ACCOUNTING SOLUTIONS SCO: 209, First Floor, Sector-36/D. Chandigarh (M): 0172-5017149, 9876149390,9915169925 BRANCH STOCK ACCOUNT

To Balance b/d To Goods sent to Branch A/c Less: Returns to H.O. To Branch Debtors A/c (Sales Returns) To Branch Adjustment A/c (Bal. Fig) (Apparent Profit)

Rs. **** *** ***

**** ****

****

By Cash (Cash sales) By branch Debtors A/c (Credit sales) By branch Adjustment A/c (Allowances) By Branch adjustment A/c (I.P. of Normal Loss) By Branch Adjustment A/c (Loading of abnormal loss) By Branch P & L A/c (Cost of Abnormal Loss) By Branch Adj. A/c (Loading of Transfer) BY Goods sent to Branch A/c (Cost of Transfer) By Balance c/d

****

Rs. **** **** **** **** **** **** **** **** **** ****

BRANCH DEBTORS ACCOUNT

Rs. **** ****

To balance b/d To bank (Cheques dishonoured) To Branch Stock A/c -Credit sales

By Cash A/c (Cash received from Debtors) By Branch Expenses A/c (Bad Debts) By Branch Stock A/c (Sales Returns) By Branch Adjustment A/c (Loading of Goods returned direct to H.O.) By Goods Sent to Bank A/c (Cost of goods returned Direct to H.O.) By Balance c/d

****

Rs. **** **** **** ****

****

**** ****

BRANCH EXPENSES ACCOUNT

Rs. **** **** ****

To Cash A/c (Total Exp.) To branch Debtors A/c

By Branch Adjustment A/c (non recurring expenses) By Branch P & L A/c (b/f)

Rs. **** **** ****

BRANCH ADJUSTMENT ACCOUNT

Rs. ****

To Branch Stock A/c (Allowances) To Branch Stock A/c (I.P. of Normal Loss) To Branch Stock A/c (Loading of Abnormal Loss) To branch Stock A/c (Loading of Transfer) To Branch Debtors A/c (Loading of direct Returns to H.O.) To Branch Expenses A/c (Non Recurring Exp.) To Stock Reserve (C.S.) To Branch P & L A/c (Gross Profit) b/f

**** ****

By Stock Reserve (O.S.) By Goods Sent to Branch A/c (Loading) By Branch Stock A/c (Apparent Profit)

Rs. **** **** ****

**** ****

**** **** **** ****

****

BRANCH PROFIT & LOSS ACCOUNT

To Branch expenses To Branch Stock A/c (Cost of Abnormal. Loss) To General P/L A/c

Rs. **** **** **** ****

By Branch Adjustment A/c (Gross Profit) By Insurance claim

Rs. **** **** ****

2

SCO:209,F.F. Sector-36/D Chandigarh. 0172-5017149,9876149390, 9915169925,