Urgent
This query is : Resolved
03 August 2009
When the opening balances are different from the figures reflected in cash book (bank balance)and last year audited balancesheet what should be the action taken.
We know the amount reflected in the cash book is correct as we can verify with bankstatement given to us but it disaggress with the audited report.
We know the amount reflected in the cash book is correct as we can verify with bankstatement given to us but it disaggress with the audited report.
03 August 2009
The bank balance as per cash book may differ from Bank Statement on account of unreconciled items. How ever, the opening balance must be the same as appearing in the audited accounts of the previous period.
You must advise the client to change the opening.
You must advise the client to change the opening.
03 August 2009
While changing opening balance It should be confurm that the opening balance is agreed with reconciliation.
if there is another differance then you should find out reason of the differance and make appropriate rectification entry.
if there is another differance then you should find out reason of the differance and make appropriate rectification entry.
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
- Opting our of sec 44AD
- SALE OF MOTOR CAR BY REGISTERED INDIVIDUAL
- Regarding appeal to GSTAT
- Multiple trade mark
- Value of property in capital gain
- Copyright software
- Transporter Declaration form
- Regarding TDS Applicability For Director Remuneration
- LC charges in relation to Asset purchased should be Capitalised ?
- Form 121 & TDS deduction
- GST Treatment of Insurance Commission for Existing GST Holder
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
- Address Change to another state of a Registered Trust with 12AB approval
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
