Errors in Trial Balance are mistakes made during the accounting process that cannot always be detected by the trial balance.…
“Under the explanation to Section 25 of the Negotiable Instruments Act, 1881 (Central Act 26 of 1881) read with the…
The Reserve Bank of India is expanding reporting requirements for foreign exchange transactions. Starting February 10, 2025, authorized dealers must…
“Under the explanation to Section 25 of the Negotiable Instruments Act, 1881 (Central Act 26 of 1881) read with the…
A trial balance is a bookkeeping tool that lists all the balances in a business's general ledger accounts at a…
The balance of a cash book and a passbook can differ for several reasons, including: Timing: Bank transactions are recorded…
Reconciliation is an accounting procedure that compares two sets of records to check that the figures are correct and in…
The adjusted cash balance is calculated by taking the ending cash balance from the bank statement and adding any outstanding…
The process of reconciliation ensures the accuracy and validity of financial information. Also, a proper reconciliation process ensures that unauthorized…
Reconciliation is the process of comparing transactions that have been recorded internally against monthly statements from external sources like banks…