Ommission in accounting

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Purushottam Jha (Querist)
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07 October 2014 Hope you all r doing gud..i was going through books of account of a Proprietorship concern...i found out that there were bundle of errors in accounting in current as well as preceeding FYs..like 2 or 3 banks were not accounted for,FDR were not shown in B/S,Negative cash,cash payments of 5 lakhs and much more..so how can i post all those unaccounted bank accounts in company's Books.one thing more concern is under scrutiny case of AY 11-12.

Thanks

Rupesh Jain

Rupesh Jain (Expert)
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07 October 2014 you can accounted with prop. capital a/c in current year you take the debit the capital a./c with the bank closing balance . and fdr take as drawing of the prop. of the concern.

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