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Is reversal entry permitted

Page no : 2
Eswar Reddy S

Eswar Reddy S (CFO- at NHTF) (58259 Points)
Replied 18 June 2022

Then ask the programmer only
1 Like
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CA Surya Sekar

CA Surya Sekar (CFO ) (1347 Points)
Replied 18 June 2022

She is out of station
1 Like

Eswar Reddy S

Eswar Reddy S (CFO- at NHTF) (58259 Points)
Replied 18 June 2022

Call her and find out
1 Like

CA Surya Sekar

CA Surya Sekar (CFO ) (1347 Points)
Replied 18 June 2022

It is also outside network area

Eswar Reddy S

Eswar Reddy S (CFO- at NHTF) (58259 Points)
Replied 18 June 2022

Then discuss with her once she back to work
1 Like

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CA Surya Sekar

CA Surya Sekar (CFO ) (1347 Points)
Replied 18 June 2022

Is it the correct accounting procedure ?

Receipts and Payments Account doesn't show true balance
1 Like

Eswar Reddy S

Eswar Reddy S (CFO- at NHTF) (58259 Points)
Replied 18 June 2022

Discuss with your Auditor and close it
1 Like

sabyasachi mukherjee

sabyasachi mukherjee (27105 Points)
Replied 19 June 2022

Companies act does not logically/legally authorize such transactions.

Eswar Reddy S

Eswar Reddy S (CFO- at NHTF) (58259 Points)
Replied 19 June 2022

If accounting software designed for international controls then ?
1 Like

CA Rashmi Gandhi

CA Rashmi Gandhi (Chartered Accountant) (86308 Points)
Replied 19 June 2022

You have to made rectification entry

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Eswar Reddy S

Eswar Reddy S (CFO- at NHTF) (58259 Points)
Replied 19 June 2022

Internal controls are permitted as per companies act . Hence the reversal entries are permitted if modification or delete options are not available
1 Like

CA Rashmi Gandhi

CA Rashmi Gandhi (Chartered Accountant) (86308 Points)
Replied 19 June 2022

Even after that much long conversation , you didn't reply the basic thing you need to reply at first. It shows you just keep modifying your reply after every reply by other

Eswar Reddy S

Eswar Reddy S (CFO- at NHTF) (58259 Points)
Replied 19 June 2022

Om Namah Shivaya 🌹 The End

CA Rashmi Gandhi

CA Rashmi Gandhi (Chartered Accountant) (86308 Points)
Replied 19 June 2022

Why because you know the actuality

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Eswar Reddy S

Eswar Reddy S (CFO- at NHTF) (58259 Points)
Replied 19 June 2022

I have given enough content but it has not reached since you want comments which is suitable for you like chitchat


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