Educational society

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Khalander (Querist)
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12 September 2012 Dear sir,

How to maintain books of acounts in education society please help on this iam waiting for a satisfying reply.

SANYAM ARORA

SANYAM ARORA (Expert)
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12 September 2012 Most of the Educational Institutes maintain their Books manually.

Eg : When a transaction occurs, a journal entry is made coinciding with this transaction. Later these transactions are posted from the journal to the ledger, then a trial balance is made to insure that the accounts are accurate and "balance".

SANYAM ARORA

SANYAM ARORA (Expert)
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12 September 2012 I have done audits of Many EI's & what i have observed is all of them have maintained their accounts manually.

Entries relating to Expenses & Income are made in the Ledger Register.

SANYAM ARORA

SANYAM ARORA (Expert)
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12 September 2012 For More Info. Refer my article -

https://www.caclubindia.com/articles/audit-of-educational-institutes-ei-s--13879.asp

Or Contact me at -

Sanyam.arora27@gmail.com