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bank reconciliation
in balance sheet, i have showed bal as per bank book(there's a pmt cleared after march). 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
Replies (2)
I have personally audited companies and different persons may have different opinions how sp ever your treatment is perfectly correct as you have already given cheque to the party with specified amount which indicate almost definite outflow of funds also subsequent clearance is a confirmation to the situation which existed in period covered only.!! So I suggest your option is better over the other
Yes... You are exactly correct.
The balance will be shown as per Your bank book. Not as per bank statement...
The balance will be shown as per Your bank book. Not as per bank statement...
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