In a job advertisement I saw recently the advertiser had mentioned that the candidate should be good in - Balance Sheet reconciliation.



Can anyone please let me know what is Balance Sheet Reconciliation and how it is done?



Thanks.

Under which head

Unpaid Exp like Telephone Exp, Electricity Exp, Legal Fees, Prof Fees, Transportation Ex p etc. should be classified in revised schedule VI.

Whether it is classified under 'Trade Payable as Creditors for Expense' or under 'Other CUrrent Liabilities'

We have received credit note for discount on monthly scheme after the purchases is made and the supplier has charged Vat on it. Now what is its accounting treatment? and Should we have to pay vat on it?

I have an FD amount of Rs. 5,00,000/-as on 31.03.2011.

Maturity Value of Rs.5,34,060/-.Matured Date is 14.06.2011.

I reinvest the whole amount that is 5,34,060/- on 14.06.2011.

As on 31.03.2012 I recieved Interest Certificate Rs.44316/- and TDS Rs.3711/-

Can anybody help me for what entry need to be done in my books.

Thanks in advance.

at the time of payment of security deposit of the contractor which was deducted previously and credited under Security Deposit Contractor Account is it mandatory to first transfer such Security deposit to the particular party account by debiting the Security Deposit and crediting the Party and then make payment entry by dr. party and cr. bank

Interest liability on TDS for the year 2010-11 is arises in the financial year 2011-12 and such interest payment is made in the same financial year. whether such expenses are booked under prior period expenses or under Interest on TDS... Please Reply as early as possible

Whether processing fees paid on sanction of Cash credit loan can be amortised over the period of the CC or should it be expenses off straightaway?

Friends

my client developped a website during year 2011-12. as his main revenue generation is wholy from this website, he will start earning revenue from the middle of 2012-13. my query is whether said website development cost is a revenue or capital in nature in 2011-12. if it is a capital , under which it should be grouped i.e. software or intangible assets.

Respected Experts ! We purchased a Property for Rs.14400000/- and loan was taken from Bank. Property transferred to Partners Account and the Interest charged by bank was debited to partners account. As the loan amount is being used by the partners , we want to debit the principle amount to partners account. What entry should we pass for the same purpose

We passed the entries

Property account Dr.
To Bank Loan Account

Partners Account Dr.
To Property Account

Interest on Loan A/c Dr.
To Bank Loan Account

Partners Account Dr.
To Inrerest on Loan Account

Bank Loan Account Dr.
To Bank Account

How can we charge the principle amount to capital accounts? Please guide me !

Does "Interest Subsidy" to be treated as "Interest Received" and need to disclose seperately under Annx. I to 3CD??

Pls advice....