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WHAT IS MONTH END CLOSING? AND WHAT YOU DO IN MONTH END CLOSSING PROCESS?
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Answer Posted / h.r. sreepada bhagi
By mistake the above answer is posted by me here for another
query on Cost Centre.
For this query -
Month end closing of Accounts is the process of completing
all the accounting entries by the month end, provisioning
for expenses an preparation of Profit & Loss A/c for the
month and Balance Sheet as at the end of that accounting
month. The process is like year-end closing and finalization
of accounts.
Month-end closing is necessary for preparation and
presentation of MIS Report for deliberations, analysis and
decision making.
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Our is a banking Activity, one person is supplying printing advertisement sheet of our product, whether he is liable to deducte TDS @ 1%
pass journal entries of the following transaction in the books of AG sindh, AGPR,FTO and SBP: 1)DDo sindh house submitted a bill for purchase of furniture to AGPR islamabad for Rs.200000 on 20th March 09; 2)AGPR issued cheque on 2nd april which was cleared by SBP on 5th April; 3)On 26th may, voucher were exchanged in the clearing house; 4)On 28th May, AG sindh issued advise to settlement to SBP karachi; 5)On 5th june,SBP HQ karachi sends a copy of clearnce memo along with bank statement to AG sindh and AGPR for settlement made on 31st May.
Tell me do you have any professional experience of this field?
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