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.