Interested to Buy Any Domain ? << Click Here >> for more details...
What is Vendor Reconciliation and how is it done ?
- 14 Answers
- 122429 Views
- Finance, XYZ, I also Faced
- E-Mail Answers
Answer Posted / yashwanth varma
vendor reconciliation is definitely accounts related job.Its part of accounts payable activity where one has to reconcile vendor balance in his books of accounts with that of the vendor balance in the books of the vendor. Take a statement of account from the vendor The statement must have invoice wise detail of each transaction. Compare the statement with the vendor accounts as per your book. Any difference should be separately shown in the reconciliation statement. Sample reconciliation statement: Balance as per ABC(Vendor) Statement: Less: Payment not reflected in vendor a/c Less:Invoices not booked by us Add:Invoices booked by us but not reflected by vendor Balance as per our books of accounts.
| Is This Answer Correct ? | 31 Yes | 9 No |
Post New Answer View All Answers
how to modify 12% to 13.5% in tallyerp9 release 1.6
Sir, in CEntral excise we need to pay some amt with interest ex.13815 amt for 66 days how to calcualte this?
Pls.tell me some website name who display practical question & answers of accounting work. like tds, service tax entry and some more. also provide important knowledge of all taxes.
Hi Kindly provide the current slab for profession tax in karnataka and due date for remittance the profession tax
Ganesh & Gopal joined a firm drawing salary of Rs 25000 per month.After serving 3 yrs ,they started business of their own in partnership,contributing Rs200000(expected life 10 yrs,bought spare parts worth Rs 33000 from Kundu on credit.Office supplies were purchased for cash.Initially they were very busy in conducting their business operations but by the end of the 1st year,31/12/2005 they were disappointed when they found their bank balances.Following is the summary of their bank statement. Receipts: Share Capital Rs 250000 Collections from Customers 412000 Payments: Equipment 200000 Salaries of Assistants 88000 Rent advance for 2 yrs 96000 On-year ins. Policy on equipment 12000 Office stationery 27000 Payment to Kundu 29000 Withdrawals of Ganesh 90000 Withdrawals of Gopal 90000 Closing balance c/d 30000 ----------- Total : 6,62,000 Still amount receivable from customers for services to them amounted to Rs 30,000 & closing balance of office stationery is Rs2000,spare parts Rs2600 were utilised by the end of the year .Prepare trial balance with the available information and show total. Also what is the net profit.
Deferred taxation is a part of which equity?
What do you mean by fair rent?
how will one calculate TDS when the bill is with service tax (SAY an AMC bill ) and what treatment will be there when it is a rent bill with service tax. is there any rules in income tax as to deduct double taxation?? pls help with rules sir
In an E1 trasaction, if the dealer fails to get the E1form from his supplier& submit it to the Sales Tax Authority, then how much will be the expected penalty from Sales Tax department, if the local tax of those item is 14.5%? Please Note: Dealer has submitted all other documents to sales tax including customer Cform expect E1 form. Kindly give us the valuable answer with the supporting CST circular number.
HOW TO FILE RETURN- SALARIED PERSON GETTING SALARY 6 MONTH FROM ONE & 6 MONTH ANOTHER COMPANY
Kindly, tell me abount the WCT of U.P. material & labour supply for installment of lift in premises at Noida (U.P.), our lift supplier giving the bill in 90% material & 10% Labour & charged the up vat of 12.5% , Can we liable for WCT deductor ?
Does the tax liability of an individual get affected due to his residential status? If yes, explain.
what is the percentage of W.C.T T.D.S to deduct from vendor, and is this includes T.D.S deduction or again T.D.S has to deduct separately?
how & on which amt tax should be calculate on pvt ltd company or ltd company
Who are non resident?
