funds received for the purpose of shares but booked as income in the boos of accounts

[RameshBabu Kari]

funds received for the purpose of shares but booked as income in the boos of accounts ? what is the steps need to take on into book as per the actual purpose ?

AI Summary

Funds for Share Purchases Mistakenly Recorded as Income: Seeking Guidance on Corrective Actions A user raised a query about funds received for purchasing shares that were mistakenly recorded as income in the financial accounts. The user sought guidance on how to correct this error. Responses from other forum participants indicated a need for clarification on the issue, with one respondent questioning the intention to reverse the booking. The original poster clarified that the funds were received from the US in USD for share purchases but were incorrectly recorded as income, and requested advice on corrective measures.