Party reconciliation
This query is : Resolved
22 December 2012
suppose you approach mr. x party and said them that as per your books balance payment is rs 100000. But the x party says as per his books balance payment is rs. 80000 only. so what will be probably the reason of such difference ?
22 December 2012
1) Non recording of Discount.
2) Non recording of payment made by cash.
3) Difference in opening balance.
4) Non recording of payment entry in Bank account.
5) As payment made in his name but recorded in other account.
6) Purchase return not recorded by us but recorded by that party. i.e. debit note issued but not recorded by us.
2) Non recording of payment made by cash.
3) Difference in opening balance.
4) Non recording of payment entry in Bank account.
5) As payment made in his name but recorded in other account.
6) Purchase return not recorded by us but recorded by that party. i.e. debit note issued but not recorded by us.
CA BHARATH KUMAR
(Expert)
24 December 2012
Mostely you didnt provide Pan Number . hence they deduct TDs on 20% (probably)
or once you should reconcile by Party statement and as per our records
1. Debit note/Credit note/
2. Discount
3.some entry missed in party s Books .
4. openeing Balance
you should check above clarification . definately you can get missing figure
or once you should reconcile by Party statement and as per our records
1. Debit note/Credit note/
2. Discount
3.some entry missed in party s Books .
4. openeing Balance
you should check above clarification . definately you can get missing figure
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