Saud Uz Zaman (DM) (21 Points)
15 February 2019Dear Sir
I'm a job holder. Recently our internal audit give me observation on bank reconciliation. Thay says ' Monthly Bank Reconciliation not done and some outstanding cheques not yet adjusted'. But I do it monthly and about outstanding cheques, you know it's depend on management decisions. What should be my reply. Here i attached the report.
V P Narasimhan
(Accounts Manager)
(791 Points)
Replied 25 September 2019
Dear
A cheque will become stale when to seizes it's validity period. The entry has to be reversed automatically.That's why it has been emphasized to mention the since realized date in the BRS.
CAclubindia
