my client has recently got a petol pump alloted in his name. in this financial year 2013-2014 his turnover will exceed Rs.2 crore. he has only purchase bills of oil and daily sale register(quantititive).
what other documents like salary register etc. he should make for audit purpose. his sale is retail as such is it is necessary to maintain the sale invoice bill book.
please guide me to make his a/c and other documents in a better way. thanks
28 November 2013
Documents are nothing but conclusive evidence of accounting. Any transaction made in books of account has its origin from book keeping. If Book keeping is insufficient or incomplete then accounts are not reliable and considered incomplete. Journal, Cash Book, Bank Book, Sales and Purchase Register, Payroll register along with all vouchers, bill, memo, invoice, Debit / Credit Note and any further document which is required to substantiate the accounting entry should be maintained.
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