Accounts NPO

education institution has three branches

branch 1
fy 17 -18 receipt payment statement shows 1000 op bank bal, 2000 closing balance

branch 1
in fy 18 -19 receipt and payment statement shows 2000 op bank bal,
2000 closing bal

here management says that till fy 17-18 branch 1 used bank account
after this period branch 3 used the that bank account
and at end of fy 17-18 it has closing balance of 2000

so in fy 18 -19 we put op bank balance 2000 and closing balance also 2000
is it correct???
Replies (2)
Quick Summary
An educational institution with three branches is questioning the accuracy of their NPO accounts. Specifically, they want to know if it's correct to show a £2000 opening bank balance for Branch 1 in FY18-19, when Branch 3 used that same account at the end of FY17-18, leaving a £2000 closing balance. The consensus is that this is acceptable if the accounts are consolidated, but individual branch accounts would require actual figures for each branch.

If it is consolidated then it will be ok otherwise if individual branch wise accounts are prepared then actual figures should be shown for respective branches
Yes it is consolidated

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