Interested to Buy Any Domain ? << Click Here >> for more details...
What is Inter Company Reconciliation?
- 13 Answers
- 114894 Views
- Aditya Birla, Ernst Young, Infosys, TCS, Thomson Reuters, I also Faced
- E-Mail Answers
Answer Posted / imran basha kadu
While doing the preliminary reconciliations, If there is any
differences between TC & Counter party balances or if the
balances are not matching then we will try to figured out
I.e. what exactly the difference is belongs to ? Then we
will share our findings with counter party and TC Head to
book an a accrual journal for the difference amount based
on their approval.
E.g.. TC had a payables of GBP 1000 against Gold medal in
TC books and after done the preliminary reconciliations Gold
medal is showing GBP 1200 worth of receivables in Gold medal
books and we are missed out with GBP 200 worth of invoices
in TC books. But already AP has been closed for the
particular period and now for time being we will book the
accrual journal to match the balances in TC books with Gold
medal.
Journal Entry :
Debit – Expenses Account
Credit – IC Liability Account
| Is This Answer Correct ? | 8 Yes | 4 No |
Post New Answer View All Answers
What is the value of the Budget for 2009-10
How much is the tax & surcharge % against d-1 form. on cement,steel,electrical item,RMC,
Hi Kindly provide the current slab for profession tax in karnataka and due date for remittance the profession tax
What is Cenvat
what is the difference b/w deferred tax exp and defeered tax liab? should Deffered Tax expense be deducted b4 computing Net profit?
When and how Wct is applicable on Labour Job Work and what is the percentage?
what is the ct-1 sale? if ct-1 bond is misplaced what is the procedure for applying for new bond.
OUR CO. ACCEPT SODEXO COUPONS FORM CUSTOMERS; WHEN WE SUBMIT COUPONS FOR REIMBURSEMENT TO SODEXO THEY DEDUCT SERVICE CHGS AND S. TAX AND PAY BALANCE AMOUNT, DOSE IT ATTRACT TDS?
Physician samples should be charged under CST @ 5% manufactured in H.P. and transferred to other states
How many heads are there under total income?
if am registered dealer & i am using road permit, i have to pay entry tax, which goods, I am receving in jammu
what is reverse credit & how it is calculated in vat law in west bengal?
What extra accounts and legal formalities are maintened In excise firm other then normal saling firm.? also tell me tax aspect in Excise firm?
Any one can mail soft copy of Balance sheet,Trading and profit and loss alc.of a small firm or small co for study
i had received an arrear 0f Rs.700000/- lacs for the period 1.1.2007 to 31.3.2010 and Rs.78000 for the period 1.4.2010 to 31.7.10 during aug'2010. my normal salary for 2010-11 is 400000/-. on what amount will my rent free house perquisite be calculated? i have also claimed rebate u/s 89 by distributing my arrear salary in previous years.
