Difference in Opening Balance
This query is : Resolved
16 June 2008
THERE IS Majore difference in Opening Balance between Party & Company Ledger for the F.Y.2007-08 Like :-
In Party Account :- Our Balance is DR. 47,000/- Somthing
In Company Account :- Party Balance is CR. 4,00,000/- Something.
The Problem is we submitted our Income tax return for the A.Y.07-08 [F.Y.06-07]
Now what should We do for matching the Balance
In Party Account :- Our Balance is DR. 47,000/- Somthing
In Company Account :- Party Balance is CR. 4,00,000/- Something.
The Problem is we submitted our Income tax return for the A.Y.07-08 [F.Y.06-07]
Now what should We do for matching the Balance
17 June 2008
First made the reconciliation statement of know the reason for the diff. and then it wil be prior period item.
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