what will happen if your trial balance doesnt tally by 0.21 paise while finalising manual books of accounts .& if you have adjusted the same while finalising in order to tally the difference ??
mridul savio Pinto (articled trainee ) (1477 Points)
29 August 2013what will happen if your trial balance doesnt tally by 0.21 paise while finalising manual books of accounts .& if you have adjusted the same while finalising in order to tally the difference ??
Manikanth
(Chartered Accountant)
(342 Points)
Replied 29 August 2013
Dom't bother about that...It is a minor amount. No one will ask about such difference
MidhuN
(CA Final Student)
(75 Points)
Replied 29 August 2013
21 Paise is immaterial but... Usually difference in trial balance is an indication of errors in accounts. The difference may be negligible but it may be because of a series of errors compensating each other. So if you can trace out why does it happen it will be better to maintain the quality of audit. But consider the time you need to devote for this. As we know, in a double entry system trial balance must be tallied...
GST Live Certification Course (39th Batch) - April 2024 (Weekend Batch) (With Certificate)
"Live class on Python for Financial Analysis: Unlocking Efficiency in Accounting and Finance"
CAclubindia
