there is a payment for which chq is issued in march but cleared in April.
Which bank balance should reflect in balance sheet? balance as per bank book maintained by client or bal as per bank statement ?
Menu
bank reconciliation
Replies (3)
Hi..!!
You can show balance as per bank book maintained by the client since the liability has been reduced on the same also you have verified the subsequent clearance of the same.
On the other hand you can increase back the liability and can show cheque in transit.!!
i be done the 1st option and showed bal as per bank book. but the auditor is stressing that the bal must match as per bank statement only which i disagreed as i ve shown reco statement...pls tel me if im wrong
You are exactly correct...
Ask the details why auditor will shown as per bank statement.
Also check out OB is which based..!
Ask the details why auditor will shown as per bank statement.
Also check out OB is which based..!
Recent Topics :
- Revocation of suo moto cancelled GST registration
- Is there any faculty taking chapterwise test in CA
- Late Fees and Interest
- HDFC Bank’s Bureaucracy: The Nightmare of Fl
- Running a CSC Center, Maha E-Seva Kendra, Setu Ken
- GSTR-9 Table 8A issue
- CA Inter Coaching institutes at Hyderabad
- Looking for practising CA
- TDS return filing
- Need formats of FS as per Co act 2013 in soft copy
Related Topics :
CAclubindia
