Party reconciliation
This query is : Resolved
Nikhil Kaushik
(Expert)
10 November 2013
often in business there are several transactions entered into with a party - creditor, debtor etc. Such transactions could sale, purchase, sales returns, purchase returns, payments, receipts etc.
Therefore, it becomes necessary to do reconcile all the transactions entered into to ensure that that all the transactions are properly recorded in the books and that the outstanding balance in the books reflect the correct amount.
Such a reconciliation is known as party reconciliation.
You may download this file for further knowledge and experimentation:
https://www.caclubindia.com/share_files/party-reconciliation-statement-27907.asp#.Un6HRyeKK9g
Therefore, it becomes necessary to do reconcile all the transactions entered into to ensure that that all the transactions are properly recorded in the books and that the outstanding balance in the books reflect the correct amount.
Such a reconciliation is known as party reconciliation.
You may download this file for further knowledge and experimentation:
https://www.caclubindia.com/share_files/party-reconciliation-statement-27907.asp#.Un6HRyeKK9g
15 November 2013
STLL MY CONCEPT IS NOT CLEAR AFTER READING THIS FILE
PLEASE SEND ME MORE FILES
PLEASE SEND ME MORE FILES
Nikhil Kaushik
(Expert)
15 November 2013
tell me what are your specific doubts?
15 November 2013
WHAT SHOULD BE ADDED AMD WHAT SHOULD BE DEDUCTED, PLEASE GO THROUGH THIS FILE, IT IS CONFUSING,
IN SHEET 1 PARTICULAR ITEM IS DEDUCTED AND IN ANOTHER IT IS ADDED
IN SHEET 1 PARTICULAR ITEM IS DEDUCTED AND IN ANOTHER IT IS ADDED
22 November 2013
WHAT ARE DOCUMENTS REQUIRED IN PARTY RECONCILIATION
HOW TO START PARTY RECONCILIATION
HOW TO START PARTY RECONCILIATION
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