CHEKLIST FOR BALANCE SHEET FINALISATION

BALANCE SHEET FINALISATION CHECK LIST

1. NO ENTRY ON NATIONAL HOLIDAY.
2. CONFIRMATION OF SECURED LOANS.
3. CONFIRMATION OF UNSECURED LOANS.
4. CONFIRMATION OF S.CREDITORS (SPECIALY THOSE WITH DEBIT BALANCE.)
5. CONFIRMATION OF S.DEBTORS (SPECIALY THOSE WITH CREDIT BALANCE)
6. BONUS SHEET TO BE TALLIED WITH BONUS PAID IN CASH AND BY CHEQUE.
7. CHECK CASH FOR NEGATIVE BALANCE.
8. ELECTRICITY CHARGES FOR 12 MONTHS ENTERED OR NOT.

NARRATION : ELECTRICITY CHARGES FOR THE PERIOD ………… TO ………… AS PER BILL DT. ………….. PAID VIDE CHEQUE NO. ………….. DT………………

9. SALARY SHEET – TALLY WITH SALARY PAID IN CASH+CHEQUE. SALARY OF EMPLOYEES WHO HAVE NOT SIGNED SALARY SHEET SHOULD REFLECT AS PAYABLE. TALLY WITH SALARY SUMMARY FOR WHOLE YEAR.
10. EX-GRATIA – COPY OF ALL FULL & FINAL A/C PAPERS REQUIRED.
11. INSURANCE EXP. – PRE-PAID ENTRIES TO BE DONE. COPY OF ALL COVER NOTES TO BE KEPT IN BALANCE SHEET FILE.
12. OTHER PRE-PAID EXP. ENTRIES LIKE LICENCE FEE, AMC ETC.
13. TALLY OPENING BALANCE WITH LAST YEAR BALANCE SHEET.
14. RECONCILE SALE + PURCHASE WITH SALES TAX RETURNS.
15. LICENCE FEE – RECEIPT OR COVERING LETTERS OF LICENCE COPY.
16. EXP. – BILL OF 12 MONTHS ENTERED OR NOT. NARRATION SIMILAR TO THAT OF ELECTRICITY EXP.
17. DEPRICIATION ENTRIES.
18. TALLY TDS CERTIFICATES WITH RELEVANT LEDGERS.
19. TALLY TDS RETURNS WITH RELEVANT LEDGERS.
20. RECONCILE ALL BANK ACCOUNTS.
21. P. RATE COMPARISON WITH LAST YEAR.
22. AUDIT FEE TO BE ENTERED.
23. CHECK CASH EXP. VOUCHERS.
24. CHECK ALL DEBIT NOTES / CR. NOTES. SHOULD BE SIGNED BY MR. SUMIT / MR. DEEPAK / MR. P.K.B.
25. CHECK ALL CASH RECEIPTS. SHOULD BE SIGNED BY MR. SUMIT / DEEPAK / MR. P.K.B.
26. CHECK ALL DISCOUNTS TO CUSTOMERS OR SHORT & EXCESS OR BAD DEBTS VOUCHERS. SHOULD BE SIGNED BY MR. SUMIT / MR. DEEPAK / MR. P.K.B.
27. ALL HEADS IN PREVIOUS YEAR P&L, TRADING BALANCE SHEET SHOULD BE IN CURRENT YEAR BALANCE SHEET AND COMPARASION OF AMOUNT TO BE DONE.
28. CHALLANS OF ALL GOVT. DUES TO BE ENCLOSED WITH I.T.R.

VAT / CST / ESI / EPF / TDS ETC .

29. PAYABLE ENTRIES : TEL., ELECTRICITY, WATER ETC .
30. FREIGHT INWARD FOR ALL CENTRAL PURCHASES SHOULD BE ENTERED.
31. TRANSFER PREVIOUS YEAR PRE-PAID TO RELEVANT EXPENSE HEAD.

32. CHECK PAYMENT OF PREVIOUS YEAR EXPENSE PAYABLE