srnarasimharao

 Profile Answers by srnarasimharao 

• Oct 14th, 2008

 

Finalization means making way to prepare TB & Balance Sheet. Check the balances of GL and Subledgers and pass the rectification?entries where it is to be required.?Trial balance should be tally with all GL & Subledgers balances. At the same time we have to do all the inter branch or interoffice reconciliations.

pratima

• Nov 24th, 2011

 

1.Directors report
2.auditors report
3.B&s & P&l

mohit

• Feb 1st, 2012

 

first if u do accounting in manual way than prepare trial balance of all accounts and check all related vouchers to that accounts ex.for preparing furniture a/c check all voucher which is related to furniture than passing adjustment entry after that prepare profit and loss a/c for finding out profits/loss and at last prepare balance sheet in which u mention all assets and liabilities and capital with profit/loss than again recheck it and give it to your CA to approve it for audit and for tax purpose

but if u do accounting in software like tally busy jaguar and others than u should do nothing just entered sales purchase payment receipt the software automatically prepared the trial balance and balance sheet and p&L check all vouchers regarding items of t.b and p&l and after that balance sheet automatically prepared
i hope this is the simple way u understand no worry its so easy but u should aware in ur basic step of recording the transactions in right way......