Hello Everyone ,
Last year , in balance sheet (asset side), amount interchange between Cash Balance & Bank Balance ..
Audit & Income tax filling already complete.. please suggest what do I do Now ?
Thanks in advance ....
Amount In books
cash = Rs.17652 (actual)
bank= Rs. 33980.09(actual)
By MIstake
cash = Rs.33980.09 ( by mistake)
bank= Rs. 17652 (by mistake)
1) What is status ?, is it sole proprietor , partnership Firm , Pvt Ltd or Ltd company or LLP or please clarify
2) This above mistake look like Impossible , because one has to do Bank reconciliation on 31st March , before finalization of books of accounts and also Audit is applicable for Bank reconciliation , more clarification is needed about the mistake
3) Before finalization one has to do physical verification of Cash balance on 31st March , by an Accountant and subsequently Auditor , so please clarify .
It is a Partnership firm (LLP)
our books of accounts maintain in TALLY ERP 9 where cash balance and bank balance completely match with actual balance .. the mistake was made when they prepare B/S & P/L in MS_EXCEL .
It is a Partnership firm (LLP)
our books of accounts maintain in TALLY ERP 9 where cash balance and bank balance completely match with actual balance .. the mistake was made when they prepare B/S & P/L in MS_EXCEL . at that time amount was written incorrectly...
What about carried forward balances of Cash and Bank on 1 St of April is it correct or wrong ?.
They don't split their accounts in tally. opening balance of both ledger 100% correct..
Mistake made on excel and wrong amount upload in income tax..
yes sir . mistake made on income tax return.
If those are the actual figures then they're too insignificant to cause any issues in my opinion. And the bottom line doesn't change anyway.
I would leave it as it is and just pass an entry on 1 April to fix the mid up.
CAclubindia
