Debtors
This query is : Resolved
09 November 2011
how debtors shown in balance sheet can be verified?
09 November 2011
You can cross verify the balance by observing your party's in their books of accounts. Technically, the process is known as external confirmation.......
09 November 2011
Is this the only way?
10 November 2011
Need to be reconcile with the debtors ledger and tally with your sales & other debtors related ledger like TDS & Discounts all.
Getting confirmation and accounts statement from debtors will be confirming the balance
Getting confirmation and accounts statement from debtors will be confirming the balance
11 November 2011
100% verification neither possible nor feasible.Steps to be followed are stated below.
1)Take age wise analysis of debtors from client.
2)Select sample, considering amount involved,period outstanding etc.
3)Sent balance confirmation certificate to all debtors included in sample with request to confirm balance directly to Auditors office.
4)Enclose stamped envelope with auditors office address.
5)Get the list of debtors verified with list submitted to Banks for CC/OD.
6)In case of any discrepancy, include in auditors observations.
1)Take age wise analysis of debtors from client.
2)Select sample, considering amount involved,period outstanding etc.
3)Sent balance confirmation certificate to all debtors included in sample with request to confirm balance directly to Auditors office.
4)Enclose stamped envelope with auditors office address.
5)Get the list of debtors verified with list submitted to Banks for CC/OD.
6)In case of any discrepancy, include in auditors observations.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- STCG....................................................
- Supply through E-commerce Operators
- Sales return eway bill
- AMOUNT RECEIVED UNDER COMPULOSRY ACQUISITION OF AGRICULTURAL LAND
- Relief u/s Section 89
- GST ON DAMAGED GOODS
- Suggestions required for income tax filing-software (FY 2025-26)
- GST Rate applicable for 0% Food Items sold by an Industrial Caterer
- Loan by Partnership Firm
- Taxation on LTCG for property sold after 24JUL2024
- TAN for Partnership
- Section 54F - Exemption on LTCG in 2026 for HP purchased in 2023
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
