banner_ad

Reconciliation

This query is : Resolved 
Profile Image

Profile Image

(Querist)
05 August 2009 Please let me know that how the reconciliation between the debotors and creditors is made while conducting audit of manufacturing company.
Profile Image

CA PARAS BAFNA

Profile Image

CA PARAS BAFNA (Expert)
06 August 2009 Reconciliation can generally be made by understanding the reasons of differences
between the concerned persons/things.

As I could understand, if your question be- How the reconciliation of debtors and creditors is made ? it can be done in the following manner
Debtors:
Total Debtors ( say as on today)
= Total of Drs' Opening Balances+ Credit Sales+ Total Debit Notes to Drs(if any)-Total payments received in Cash or thru bank- Total Credit Notes.
For Crs Reconciliation you have to follow in the same logical manner.

If Particular Ledger A/cs of Drs or Creditors are to be reconciled you note down the items of differences in your Auditee's a/c and the respective drs/crs A/c individually and locate the difference.


You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join the CA Students WhatsApp Community for ICAI Updates, Trending Courses & Notes!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
Featured 02 May 2026
Senior Executive

hitesh chandwani & co

Pune

B.Com

View Details
Company
Featured 29 April 2026
Manager- Finance and Compliance

Naveen Fintech Pvt Ltd

Kolkata

CA Inter

View Details
Company
Featured 14 April 2026
GST CONSULTANT

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 13 April 2026
GST CONSULTANCY

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 28 March 2026
Accountant

Ashok Amol & Associates

New Delhi

B.Com

View Details
Company
Featured 28 March 2026
CA Final

Ashok Amol & Associates

New Delhi

CA Final

View Details
Company
Featured ARTICLESHIP 19 March 2026
Article Assistant

Gupta Sachdeva & Co. Chartered Accountants

New Delhi

CA Final

View Details
Company
Featured 14 March 2026
Associate CA

N N V Satish&co

Hyderabad

CA

View Details