as we know we write narration along with each journal entry
but no accounting standard or policy makes it mandatory.
What your view on this matter.
is it practically necessary to write narration?
Menu
Narration of Journal entry
Replies (6)
Not necessary but writing narration helps to quickly identify the transaction for which the journal posted
It is necessary to understand to others and auditor ,why we pass journal entry. and other details , it is necessary to write narration , whether it's in law or not .
narration is necessary. It must be simple one line text.
Not mandatory but necessary to identify the transaction.Same amount transaction confuse over a period of time and one can not remember all transactions .
Agree with sudhir
Thank you all for your enlightenment
Recent Topic
- TDS deducted by EPFO under wrong section
- Schedule SI in ITR-2
- What is the easy way to do CA- through foundation
- Schedule FA query for this AY 2026-27
- Business income source for husband and wife
- Set off of LTCL against STCG under section 536(2n)
- Audit Workflow tool
- Is CA through direct entry easy for a commerce stu
- Dividend and withholding tax - DTAA- RSU
- NRI Query: Capital Gains Tax Exemption under Secti
Related Topics
CAclubindia
