Steps for Finalisation of Books of Accounts
- Take the print out of opening trial balance and match it with the last year balance sheet. So any discrepancies identified in early stages.
- Confirm with sales and purchased department that any pendency are there.
- Account confirmation from debtors and creditors.
- Make appropriate provisions for the expenses.
- Prepare bank reconciliation statement.
- Identified the expenses which may relate to coming financial year like insurance, rent etc.
- Make the provision for taxation on the basis of estimated profit.
- Ledger scrutiny.
- Prepare the final trial balance.
- Returns filed during the year like VAT, TDS, Service tax, Excise Duty Etc.,
Manish Kumar Gupta
+ 91 9718262561