Bank payments

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Querist : Anonymous

Querist : Anonymous (Querist)

07 February 2013 When we check bank payments, what we have to verify?

CA Ayush Agarwal

CA Ayush Agarwal (Expert)
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07 February 2013 Nothing as Such...Just BRS and Date Wise Fully Entered.
Also Depend on Client

kodiya mohammed asif

kodiya mohammed asif (Expert)
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07 February 2013 You can check whether payment has been encashed within 3 months. If not , than it must be shown as stale.
You can also look upon the following:
Proper entry passed
Approvals for payment if required
BRS

Querist : Anonymous

Querist : Anonymous (Querist)

07 February 2013 Thank u,sir But member subscription charges are paid. Is it tds is deductible on these payments?

CA Ayush Agarwal

CA Ayush Agarwal (Expert)
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07 February 2013 During Bank Payments Audit, TDS Need to be Deducted or not is not to be seen, it should be checked when expenditure audit you are doing or by going to expense ledger.

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