Dear Experts,
Case 1:
Vendor accounted invoice in their books as on 31st March 2021 amount 70,000 and we provisioned amount 65000 for the same invoice.
Now vendor is asking us to give balance Confirmation for 70K. Should we give for 70K or Zero since we haven't accounted but provison
Case 2 : Vendor accounted for 20k and didn't disclose on the same.so we haven't provisioned
Now he asking us give confirmation for 20k
what can be done ?
The actual outstanding balance should be given as on 31.3.21 which is 70K.
In case 2 balance confirmation should not be given as vendor didn't show such balance and hence provision has not given.
CAclubindia
