Manager - Overseas
97 Points
Joined November 2011
For finalisation you need to do -
BANK Balance of the books and Statement of the Bank should be tally.
Cash must not be negative in any day.
Depreciation on fixed assets as per IT Act
Provisions of Exp
Balance confirmation from Creditors and Debtors (Not for all but for those who have BIG AMT & TRANS.)
ALL TAX RETURNs and VAT J1J2 should be tallied.
AFTER ALL THIS.....
CALL YOUR CA... HE WILL FINALISE AND DO ENDORSE ABOUT THE ENTRIES AND TRANSACTION.
BY DOING FINALISATION UP TO CERTAIN LIMITS YOU GET THE KNOWLEDGE AND DO EASY WORK FOR C.A.
HOPE....