sales of company
This query is : Resolved
22 February 2008
CHECK THE SALES FIGURE IN BOOKS OF ACCOUNT WITH THE VAT RETURN FILED FOR THAT PERIOD
22 February 2008
YES, I AGREE WITH MR. MAHESWARI AND ADD THAT YOUR MONTHLY SALES INVOICES TOTAL UPTO A CERTAIN FIGURE WHICH SHOULD TALLY WITH YOUR MONTHLY VAT RETURNS AND IN YOUR MONTHLY MIS TO MANAGEMENT ALSO THIS FIGURE SHOULD TALLY WITH THE SALES WHICH YOU REPORT EVERY MONTH.
IF TO ANY OTHER GOVT. DEPT. ALSO( LIKE CENTRAL EXCISE DEPT./DEPT. OF INDUSTRIES) YOU ARE FURNISHING MONTHLY SALES DETAILS , SEE THAT THERE IS NO VARIANCE.
IN OTHER WORDS, SALES WHEREVER YOU REPORT, THERE SHOLULD BE UNIFORMITY OF FINANCIAL FIGURES/QUANTITIES.
AFTER FINANCIAL RECONCILIATION COMES QTY. RECONCILIATION WHICH IS RECONCILING BETWEEN YOUR DESPATCHES/ QUANTITIES REPORTED AS SALES MINUS RETURNS IF ANY AS PER YOUR RECORDS AND EXCISE RECORDS.
ALSO PL. ENSURE THERE IS NO DIFFERENCE BETWEEN ANY VOLUME/QTY OF SALES REPORTED TO ANY AUTHORITY LIKE JDGFT (FOR EXPORTS IF SUBMITTED )AND OR DEPT. OF INDUSTRIES OR ANY OTHER GOVT. DEPT.
SALES ARE ALSO REPORTED TO STOCK EXCHANGES( FOR LISTED COMPANIES) IN QRTRLY RESULTS
( OF COURSE NOW THAT A 10% VARIANCE BETWEEN QRTRLY RESULTS AND FINAL YEAR END FIGURES UNDER IMPORTANT HEADS OF ACCOUNTS ARE ALLOWED BY STOCK EXCHANGES AS PER LISTING AGREEMENT .
EXPORTS FIGURES OF SALES SHOULD ALSO TALLY WITH THE BANKS REALISATION CERTIFICATE.
DOMESTIC SALES SHOULD ALSO TALLY WITH BANK STATEMENT EXCEPT WHEN IT IS A CASH SALE.
DO NOT FORGET DR. NOTES AND CR. NOTES ISSUED/RECEIVED BY THE COMPANY DURING THE YEAR.
R.V.RAO
IF TO ANY OTHER GOVT. DEPT. ALSO( LIKE CENTRAL EXCISE DEPT./DEPT. OF INDUSTRIES) YOU ARE FURNISHING MONTHLY SALES DETAILS , SEE THAT THERE IS NO VARIANCE.
IN OTHER WORDS, SALES WHEREVER YOU REPORT, THERE SHOLULD BE UNIFORMITY OF FINANCIAL FIGURES/QUANTITIES.
AFTER FINANCIAL RECONCILIATION COMES QTY. RECONCILIATION WHICH IS RECONCILING BETWEEN YOUR DESPATCHES/ QUANTITIES REPORTED AS SALES MINUS RETURNS IF ANY AS PER YOUR RECORDS AND EXCISE RECORDS.
ALSO PL. ENSURE THERE IS NO DIFFERENCE BETWEEN ANY VOLUME/QTY OF SALES REPORTED TO ANY AUTHORITY LIKE JDGFT (FOR EXPORTS IF SUBMITTED )AND OR DEPT. OF INDUSTRIES OR ANY OTHER GOVT. DEPT.
SALES ARE ALSO REPORTED TO STOCK EXCHANGES( FOR LISTED COMPANIES) IN QRTRLY RESULTS
( OF COURSE NOW THAT A 10% VARIANCE BETWEEN QRTRLY RESULTS AND FINAL YEAR END FIGURES UNDER IMPORTANT HEADS OF ACCOUNTS ARE ALLOWED BY STOCK EXCHANGES AS PER LISTING AGREEMENT .
EXPORTS FIGURES OF SALES SHOULD ALSO TALLY WITH THE BANKS REALISATION CERTIFICATE.
DOMESTIC SALES SHOULD ALSO TALLY WITH BANK STATEMENT EXCEPT WHEN IT IS A CASH SALE.
DO NOT FORGET DR. NOTES AND CR. NOTES ISSUED/RECEIVED BY THE COMPANY DURING THE YEAR.
R.V.RAO
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- GST Audit whether Govt Companies are exempt?
- PTRC Show Cause Notice on Email
- Accounting treatment of AMC alongwith the purchase of Laptop
- Unable to File TDS Q2 Return – New TRACES Portal Error
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- Taxation of crypto futures in India Fy 2026- 2027
- EPF ECR NEW RULES Sep 17th 2026
- Transfer of Physical Stock Between Two Proprietorship Concerns
- MSME disclosure and disallowance
- Issuing of delivery challan by seller of goods
- Condonation Request sec 119(2) b -Enhancement Limit of Leave Exemption prior to AY 2023
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
