Dear Experts,

When should be the exact date of booking a transaction in books? Is there any consequence if date of bill and booking the entry is too late i.e. around 5- 6 months repeatedly from the GAAP point of view and companies Act point of view? Is there any limitation of time in this regard under any law or other principles or conventions of accounting?

It is urgent please reply soon.
Thanks in advance
Happy day!

Can anyone please explain, why the closing stock appears outside the trial balance????

Rent Paid Prepaid-Rent or Monthly-Rent Basic. Can we accomodate Provision for Monthly Basic or not. If provision is Passed then TDS liability Calculate for this Month or Next Month.

Sir/Madam

Under what head the following has to be shown, Current Assets or Loans & Advances

1. TDS/Advance Tax

2. Retention Amount/With-held Amount

3. Deposits like Telephone Deposit, E.B. Deposit,etc

And also whether these items will be considered for calculating "Current Ratio"?

Tally ODBC helps establish a dynami connectivity of 7.2/9 with excel. When used for creating a trial balance in excel, we can then prepare B/S & P&L in excel as well that will adjust as per changes made in taly. My question is, such a trial balance is arranged in a certain way in excel and is connected via formula to cells in B/S n P&L. If we create a new A/c in tally this arrangement changes nd thus all the figures in B/S n P&L need to be connected again to the T.B. cells nd this disadvantage nulifies ODBC utility to a great extent since greater portion of excel sheets need to be reworked then. Is there a proper solution to this?

Hi All
My query is abount accounting of preliminery expenses of Pvt. Ltd. Co.
Authorised, Issued & Sub Capital Rs. 1 Lakh
No Investment in Fixed Assets
Preliminery Expenses incurred Rs 16236
My Questions are:
1. 2.5% (max) of Prelm will be amortised ?
2. 1/10 will be allowed each year ?
3. if yes, what accounting treatment should be given for remaining exp

If the CA has certified aprovisional balance sheet of one of his client. But the amount of stock was by mistake taken as 119 cr instead of 1.19 cr resulting in to increase in profit.

My query is can that CA correct the mistake and sign back again.
Will the CA be held liable in this situation?

please clarify on urgent basis.
Thanks in Advances.

I have a co. A/c in Tally (9 or 7.2) for 1-4-2006 to 4-3-2009 and another records for the same co. from 5-3-2009 till date. How can i consolidate both of them as the two are the same companies but different accounts have been maintained

Hi friends
A machinery was purchased 50,000 on 01/04/2007. depreciation rate is 10% and we are maintaining provision for depreciation. What would be journal entries and how the provision will be created for 2 year( 31-08-08 & 31-3-2009). Please suggest me ASAP. Friends waiting for ur answers

Monia

I want to know how to make an entry for depreciation in tally. Also is deprecition to be charged on each item date wise (ie date of purchase) or we can take a base date?