Accrual Accounting
This query is : Resolved
23 September 2016
Dear Experts,
Could we make a payment and Recepit entry on the basis of bank Statements under Accrual basis of accounting?
Is it mandatory to make a entry through cheque book counterfoils and Deposit slips under accrual basis of accounting ?
please reply.
Amol S Joglekar
(Expert)
23 September 2016
Normally NO......but in case of incomplete records, one has to find out the mean way
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