Query on - balance sheet reconciliation
This query is : Open
22 June 2012
In a job advertisement I saw recently the advertiser had mentioned that the candidate should be good in - Balance Sheet reconciliation.
Can anyone please let me know what is Balance Sheet Reconciliation and how it is done?
Thanks.
Can anyone please let me know what is Balance Sheet Reconciliation and how it is done?
Thanks.
22 June 2012
Dear user,
In my view, it is nothing but tallying the both the sides of the balance sheet. Reconciliation means the balance should be tallied correctly.
In my view, it is nothing but tallying the both the sides of the balance sheet. Reconciliation means the balance should be tallied correctly.
22 June 2012
The advertisement was from an MNC BPO company.
These days books of accounts are all computerized and there is no need to tally the debit and credit side of Balance sheet since the computer takes care of all posting of entries and tallying of Balance sheet.
May be - Balance sheet reconciliation is something different. I am not sure.
I solicit the views of other experts on this matter
These days books of accounts are all computerized and there is no need to tally the debit and credit side of Balance sheet since the computer takes care of all posting of entries and tallying of Balance sheet.
May be - Balance sheet reconciliation is something different. I am not sure.
I solicit the views of other experts on this matter
22 June 2012
System may not show the correct treatment as per accouting principles.
It is necessary to prepare the balance sheet manually also.Like, advance given to supplier who is a creditor should not reflect under creditors but the system may take it under creditors.
There are many other items also need to be reconciled while preparing the balance sheet.
It is necessary to prepare the balance sheet manually also.Like, advance given to supplier who is a creditor should not reflect under creditors but the system may take it under creditors.
There are many other items also need to be reconciled while preparing the balance sheet.
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