Accounts finalisation
This query is : Resolved
27 August 2016
How to do Finalization of Accounts and what are the steps needs to be followed.
Please tell me the exact procedure of Accounts Finalization.
Thanks
Please tell me the exact procedure of Accounts Finalization.
Thanks
28 August 2016
01. Prepare trial balance
02. get rid of the difference, if any, in trial balance
03. Make the adjustment entries. provisions, outstandings, stock, depreciation etc.
04. Close the ledger accounts and transfer the respective accounts to Profit & Loss a/c, Balance Sheet as the case may be
02. get rid of the difference, if any, in trial balance
03. Make the adjustment entries. provisions, outstandings, stock, depreciation etc.
04. Close the ledger accounts and transfer the respective accounts to Profit & Loss a/c, Balance Sheet as the case may be
Message likes :
1 times
29 August 2016
Thank you very much Amol Sir
29 August 2016
Sir, Could you please give me some examples of adjustments entries for Provision & Outstanding?
29 August 2016
you are most welcome.
01. Provision : Audit fees : Debit Audit fees, credit audit fees payable
02. Outstanding. : say rent is paid half yearly, at the end of half year...in Feb and Aug.
01. Provision : Audit fees : Debit Audit fees, credit audit fees payable
02. Outstanding. : say rent is paid half yearly, at the end of half year...in Feb and Aug.
29 August 2016
Thanks again Sir,
May god give you best reward for this.
May god give you best reward for this.
29 August 2016
you are most welcome.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- House Property Reporting in ITR
- Supply through E-commerce Operators
- TDS Claim year
- Sales amount in Gstr1
- Rent lease agreement
- Relief u/s Section 89
- TDS Challan Code
- Agriculture income or business income
- STCG on ETF gold & silver
- If there is Long term capital gain exists how much total income to be considered
- GST ON DAMAGED GOODS
- REGARDING GST LIABILITY/....
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
