Accountant treament
This query is : Resolved
Guest
Guest
(Querist)
25 August 2013
n financial year 2011-12 closing balance of vendor was 12000/- in financial year 2012-13 opening balance of the same vendor was by the mistake showed as 14000/- or 11000/- what should i do in both the cases to get the correct balance
25 August 2013
u NEED TO PASS A RECTIFICATION ENTRY IN CURRENT YEAR WHICH WILL BE PRIOR PERIOD ITEM.
Reverse the entry of amount exceeding 12,000 or deficiency of Rs 1,000.
Reverse the entry of amount exceeding 12,000 or deficiency of Rs 1,000.
26 August 2013
you mandatorily required to take previous year closing as opening stock
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alter the current year opening stock to match with previous year closing stock
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No entry required,,just take openining balance correctly
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alter the current year opening stock to match with previous year closing stock
.
.
No entry required,,just take openining balance correctly
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