Confirmation of account
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
10 February 2013
before issuing confirmation of the leger account to the third parties whose scrutiny is going on, can we demand the leger account of our own account in the books of the third parties?
after cross checking the balance , then confirmation is issued to the 3 rd party
is it good ?
after cross checking the balance , then confirmation is issued to the 3 rd party
is it good ?
11 February 2013
At first instance there is no need to demand your ledger account in the books of third party supposing that you are maintaining the accounts well and every transaction has been booked in timely manner. in this case you will simply tally the ledger balance with your books (A/R or A/P). if you find any discrepancy you may notify the difference to the third party or their auditor, in such a scenario ledger account in third party books can be demanded in order to reconcile the difference between the third party and your books.
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