Mistake in the preparation of financials
This query is : Resolved
11 August 2018
Dear sir,
I am working in a company. There is a issue in preparing Form VAT 240 for FY 16-17.
As per VAT Returns sales return in May-2016 (Rs.1,05,00,250/-) is not considered in Financials as well as that entry not reflected in Accounting Software Tally also.
Can i disclose it as a prior Period Item in the Financials for the current period. Kindly suggest us how can we move forward?
Thanks in advance
B. Jagan
I am working in a company. There is a issue in preparing Form VAT 240 for FY 16-17.
As per VAT Returns sales return in May-2016 (Rs.1,05,00,250/-) is not considered in Financials as well as that entry not reflected in Accounting Software Tally also.
Can i disclose it as a prior Period Item in the Financials for the current period. Kindly suggest us how can we move forward?
Thanks in advance
B. Jagan
11 August 2018
Yes, route it through' prior period item' to correct the mistake.
11 August 2018
Thanks you
Related to the above issue still we have not filled the VAT 240.
Now for filling of VAT 240 the figures are not match with the signed financials.
How to to disclose it in the VAT 240 as the figures are not match with financials.
Please suggest me how to resolve the issue.
Related to the above issue still we have not filled the VAT 240.
Now for filling of VAT 240 the figures are not match with the signed financials.
How to to disclose it in the VAT 240 as the figures are not match with financials.
Please suggest me how to resolve the issue.
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