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sales vouching (Audit)

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This query is : Resolved



( Author )
08 April 2008

repected sir,

what is basic concept when i will start sales vouching?

becasue i want to know that grass root lavel, sales order upto computerized feeding in tally or mannual?


Amit Sharma

( Expert )
08 April 2008

Dear Amit,

Reasons for sales vouching:-

(a) To in-turn check the particulars in the voucher with tally.

(b) To know if there are any second hand machines got from the parent company in that particular financial year, as it would be dis-allowed in tax audit.

(c) To phsically verify whether there are actually sold , or just made fraud by the company to increase or decrease the profits of the comapny as the case may be.


R.V.RAO

( Expert )
08 April 2008

CASH SALES INCL. CHEQUE PAYMENTS SHALL BE VOUCHED WITH CASH BILLS AND ALSO WITH CASH AND BANK BOOK AND BANK SATETEMENTS.
CREDIT SALES AS PER DAY BOOK NEEDS TO VOUCH WITH INVOICES RAISED (ALL INVOICES SHOULD BE SERIALLY NUMBERED FOR CONTROL INCL. CANCELLED INVOICES).
CASH OR CREDIT SALES INVOICES (EXCEPT SCRAP OR WASTE MATERIAL SALES) MUST CORRESPOND WITH STOCK REGISTER ENTRIES OF DESPATCH AND ALSO GATE PAASES TO CORRELATE VOUCHING FOR COMPLETE SALE AUDIT.
DEBTORS CONFIRMATIONS RECEIVED AND CHECKED AT RANDOM WILL STRENGHTEN SALES VOUCHING NOT TO CONFINE TO ONLY VOUCHERS.
ALL ABOVE DETAILS NEED TO BE CHECKED IN COMPUTER ALSO IF YOU HAVE PROPERLY AIDED SOFTWARE WITH AUTOMATIC UPDATING IN ALL RELEVANT PLACES LIKE STOCK EGISTER,SALES REGISTER,PARTY'S LEDGER ETC...
LAST BUT NOT LEAST IS QUANTITY RECONCILIATION OF STOCKBOOKS AND FIN. BOOKS .
SIMILARLY DR. NOTES AND CR. NOTES SHALL ALSO BE PROPERLY ACCOUNTED.
R.V.RAO











AMIT KUMAR ROY

( Author )
08 April 2008



Reetika Goel

( Expert )
05 May 2008

All u have to do while sale vouching is:
- reconcile the bill balance with financial books.
- whether bill is properly authenticated or not.
- the party to whom goods are sold or services rendered have given receiving on the bill.
- all the bills are numbered serially.
- the quantity of goods ordered by the customer is actually delivered in the same figures.
- the stock register maintained by the godown or warehouse keeper tallies with the financial books register.
- external confirmation on test basis from debtors can be obtained.


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