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Cash Accounting System

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(Querist)
28 March 2009 Dear Sir,

We are following cash accounting system. We
do not maintain any balances of sundry debtors/sundry creditors. We book income/expensive as when is received/paid.My
question is if party ask for balance confirmation as 31/03/2009 and statement of account,what should I do?, should I give payment received/paid statement or statement of account(as per mercentile).

Please help.
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CA LOKESH KASAT, FCA, M.Com

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CA LOKESH KASAT, FCA, M.Com (Expert)
28 March 2009 The better way is mercantile Only. By Cash system, when you have not booked amount receivable, then how you can give the details.

So Mercantile.
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