I am a salaried individual. Though I dont need to prepare Balance Sheet I am doing so to learn things and to keep track. In last year I forgot to mention some of my LIC investment (ULIP scheme) in my balance sheet. Can you please tell me how to rectify this mistake in this year balance sheet.
Thanks & Regards,
Samir
If you maintain accounts, all such items are generally gets posted, may be in different ledger. But directly preparing BS is not correct practise. You can either rectify your personal expenses or increase capital account, as of now.
Naveen Fintech Pvt Ltd
Kolkata
CA Inter
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