Rounded off Ledger A/c
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
15 June 2010
Dear Sir,
I want to know what is the meaning of Rounded off ledger,
when we received a purchase bill or issue a sale bill we are adjusted the bill amount with +/- R/o .
Please give the Brife of this R/o,s effect in final Accounts balance sheet.
yours truly
Ram Kumar
I want to know what is the meaning of Rounded off ledger,
when we received a purchase bill or issue a sale bill we are adjusted the bill amount with +/- R/o .
Please give the Brife of this R/o,s effect in final Accounts balance sheet.
yours truly
Ram Kumar
15 June 2010
Round off ledger for rounding off the amount nearest to rupees which is coming in fraction .
like in case of 1000.85 , it will Round off + .15, now amount is RS. 1001/-
in case of 1000.45 , it will round off - .45 , now amount is Rs. 1000/-
Round off a/c balance is shown as misll. expense in Profit & Loss a/c
like in case of 1000.85 , it will Round off + .15, now amount is RS. 1001/-
in case of 1000.45 , it will round off - .45 , now amount is Rs. 1000/-
Round off a/c balance is shown as misll. expense in Profit & Loss a/c
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