Accounts Finalization

Dear Friends,

Now i have been appointed to Accounts Finalization, Could please you tell me;

1. what are the precautions i have to take before doing it?

2. What are the procedures i have to follow?

3. please provide me if you have any notes.

thanks

Replies (2)

Dear Mohamed,

while finalising the accounts you have to do reconciliation for provisions, debtors, creditors.

statutory commitments etc.,

for most of the b/s items you need to do the reconciliation.

keep updating

all the best

keep smiling

 

balaji sarangarajan

Dear Mohamed,

at the time of finalising your b/s if possibal take statements of debtor and creditors and reconsile them.

bank balance must be reconsiled. all the statutory balances must be tallyed.

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