Steps for finalisation of books of accounts

·         1.      Take the print out of opening trial balance and match it with the last year balance sheet. So any                      discrepancies identified in early stages.

·         2.      Confirm with sales and purchased department that any pendency are there.

·         3.       Account confirmation from debtors and creditors.

·         4.       Make appropriate provisions for the expenses.

·        5.        Prepare bank reconciliation statement.

·        6.           Identified the expenses which may relate to coming financial year like insurance, rent etc.

·        7.           Make the provision for taxation on the basis of estimated profit.

·        8.         Ledger scrutiny.

·         9.     Prepare the final trial balance.