Bank payments

This query is : Resolved

Report Abuse Follow Query Ask a Query

Querist : Anonymous

Querist : Anonymous (Querist)

07 February 2013 When we check bank payments, what we have to verify?

CA AYUSH AGRAWAL

CA AYUSH AGRAWAL (Expert)
Follow

07 February 2013 Nothing as Such...Just BRS and Date Wise Fully Entered.
Also Depend on Client

kodiya mohammed asif

kodiya mohammed asif (Expert)
Follow

07 February 2013 You can check whether payment has been encashed within 3 months. If not , than it must be shown as stale.
You can also look upon the following:
Proper entry passed
Approvals for payment if required
BRS

Upgrade to CAclubindia Pro. Subscribe Now!

Querist : Anonymous

Querist : Anonymous (Querist)

07 February 2013 Thank u,sir But member subscription charges are paid. Is it tds is deductible on these payments?

CA AYUSH AGRAWAL

CA AYUSH AGRAWAL (Expert)
Follow

07 February 2013 During Bank Payments Audit, TDS Need to be Deducted or not is not to be seen, it should be checked when expenditure audit you are doing or by going to expense ledger.