Query

Date used by Client to record the transaction in its bank book,

if we enter the date according to bank statement, then there will be no need for reconciliation statement, and also it will not represent the true position of the business, suppose we have issued a cheque to one of our creditor on 29-Mar-2013, however it has been cleared in the bank on 05-Apr-2013,

then as we should record the transaction on 29-Mar-2013, and debit the party account, and the cheque will be reflected in BRS, it will show the correct position.

hi to everybody,

please guide me. 

can i capitalize the expenses incurred during company incorporation by a director.

i.e, is it valid to debit the expenses incurred during company incorporation to a director's capital !

awaiting replies, regards

vijay