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
- Price inclusive or exclusive of GST while made entry in P& L Account
- TDS Challan - change of FY 2025-26 to TY 2026-27
- Gst registered proprietorship firm
- AUDITOR APPOINTMENT FOR THE YEAR ENDING MARCH 27
- Minimum tax payable to file Updated return
- Tax rate change regarding
- Non filing of I T Returns
- SALARY CAN BE CAPITALIZE
- Change Of Karta In Case of Death
- Salary from Qatar in Dollars in India
- How to Handle Active E-Invoices in GST Portal Deleted from Tally?
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Starting trading business
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
