Maintaining of mannual cash book
This query is : Resolved
06 September 2011
I'm working with a non-banking finance company at its Regional Office. Our Accounts dept. is saying we are dealing crores of business, why should we maintain mannual Cash Book? For your information we have no standard accounting package and no huge volume of entries in our Regional office, average 25 entries per day.
My opinion Book keeping is must sine we have no standard accounting package else preparing of accounts and statement not possible
Please give your opinion and oblige.
My opinion Book keeping is must sine we have no standard accounting package else preparing of accounts and statement not possible
Please give your opinion and oblige.
08 September 2011
Maintenance of books has been prescribed by the provisions of Section $$AA of the Income Tax Act. As regards maintenance of cash book it is not specified whether you can maintain manually or electronically but you have to maintain. You can maintain it in XL form also.
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