Dear friends,
i have a client who has not reversed stale cheques from april 2007.
now i want to reverse all those, the entry for expense cheque reverse will be
Bank account Dr.
To Expense account.
my question is whether it voilates any of the Accounting Standard if yes which one, what is the best way to reverse
pls help me out
the entry will be the same as stated by you. the best way is to highlight this fact in notes to accounts
R P S K & Associates
Nashik
CA Inter
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YOGESH KAPOOR AND ASSOCIATES
New Delhi
B.Com
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CMNITY HIRE
New Delhi
Others
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