Book Keeping Help

For Internal Team and Clients

Accounting Review Repeated Errors

Below are the Repeated Review errors in Profit and Loss which Accounting Team must avoid in our Company.

  •  Merge Expense ledger with total exp of ledger less than 3000 to its near most nature of expense or miscellaneous expenses.

  •  GST,TDS Filling, late fee other charges in one ledger but with proper narration so that can be segregated at the time of audit

  • Director salary & staff salary always seperate ledger & director salary always quote through individual Director Name Payable ledger. Ex Manoj Salary payable

  • Always have Individual ledger for each Rented Premises & have premises address in Ledger name and always do a due entry.

  • Merge small or very small expenses ledger in short and excess ledger, amount should not be more than Rs.3000 in whole year.

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New Profit & Loss Grouping Structure
P&L Right Side - "Revenue From Operation", "Other Income "
P& L - Left Side - above Gross Profit - Opening Stock,  Purchase of Stock in Trade, Direct Expenses. 
P& L - Left Side - After Gross Profit - Employee Benefits Expenses, Finance Cost , Depreciation & Amortization Expenses, Other Expenses
P & L - Left Side - Sub Group of " Other Expenses"  = Marketing Expenses, Fixed Expenses , Variable Expenses.



Below are the Repeated Review errors in the Balance sheet which Accounting Team must avoid in our Company.

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 AeTx Accounting Bifurcation Rules:

Is Ledger Mai Posting Karni Hai Jab Jab Narration Mai Ye Words Aaye
Bank Charges Expenses CHGS, Locker Rent, Consolidated Charges, GST18% on Charge,Sweep Trf Charges,Cheque Book Issue Charges,Annual Maintenance Charges,ATM issue Charges, ATM Reissue Charges, Insufficient Balance Charges, Bal not maintained charges ,One 97 ,RTGS Charges,NEFT Charges,Debit Card Pur,Petrol Reverse charges, Plaza Premium,Dream folks poss debit,IMPS P2P,POS RVSL DT,DC INTL POS TXN,POS Ref,Clearing Charges,Commission charges,FD Charges,,Sign Verf. Charges, Service fee
Cash WithDrawal EAW, ATW, CAW, ATM, NFS, NAW, NWD, Cash Cheque Withdrawl, ATM Withdrawl
Professional Fee Expenses Wissen India, WIPL, A/c 8781, full Sleeves, Professional Fees
Postage & Courier Expenses Bludart, Indian Post, Professional Couriers, DTDC, Tracker, Speed Post, DHL, India Dot, First Flight, Courier, Overseas Courier,
Electricity Expenses DHBVN, BSES, Dakshin, Tata Power, Rajdhani Power, Power Grid
Interest Income Credit Interest Capitalised, int for the period, Int, FD Redeem Interest
Legal & Statutory Fees Expenses Wissen India, WIPL, A/c 8781, full Sleeves
Bank Charges Paypal Expenses Paypal Charges, INB Payu India
Conveyance Expense Paytm, Uber, Ola, zoom car, conveyance,
Printing & Stationary Expenses jk paper,pencil,stationery,paperclips,stationary shop,stationary bazaar,penhouse,book depot, Print art
Telephone & Internet Expenses Airtel, Vodafone, Idea, BSNL, MTNL, Jio, Tele, Internet Payment, MTNL Delhi, Bill Pay,Telephone, Paytm.com
Traveling Expenses Make my Trip, Indigo, AirAsia, jet airways, SpiceJet, goibibo, yatra.com, air ticket
Telephone Expenses Airtel, Vodafone, Idea, BSNL, MTNL, Jio, Tele, postpaid, prepaid, CITRUS AIRTEL, MTNL Delhi, Bill Pay,Telephone, Paytm.com
Telephone Expenses Airtel, Vodafone, Idea, BSNL, MTNL, Jio, Tele, postpaid, prepaid, CITRUS AIRTEL, MTNL Delhi, Bill Pay,Telephone, Paytm.com
Repair & Maintenace Expenses Herwa, Maintain cell, car repair, Facility Maintenance, Security
Salary Expenses the salary for the month, employee name, TPT Salary, TO Transfer INB SAL, Exp Sal, Credit Salary TRF, By Salary
Rent Expenses Payables TPT Rent, TO TRANSFER-INB RENT
Petrol & Diesel Expenses GANGA PETROL,Indian oil,HP,Janta Filling Centre,Hira Filling,Reliance Fuels,Filling station,Fuel Junction,Link Road Petrol,Bill Junction,BPCL,Essar,Gas,Inderprastha
Insurance Expenses Aviva life, Iffco Tokio, ICICI Lombard Life, LIC, New India Assurance, United India Bajaj Allianz, Reliance
MCA ROC Filling MCA Fees
CBDT Tax CBDT Tax Paid
Croma Fixed Asset Computers
Office Expenses Bigbajar, Spencers, Sonya Bakery Cafe
Staff Welfare Expenses Restaurant, MISO, vapor Bar, Manhattan, Strikers Skybar, Haldiram, Gopala
Marketing Expenses Just Dial, Google Adwords, Facebook
Hiring & HR Expenses Indeed, Naukri, TimesJob
KNA Design Debtors
marketing Expenses
Motorcycle (Fixed Assets)
Office Expenses
Big bajar, Spencers, Sonya Bakery Cafe
office Expenses
Printing & Dying Expenses
Purchase - Non-TMCell (From Suppliers)
Purchase Expenses

Rev enue From Opera tions

Software Expenses

Staff Welfare Expenses
Restaurant, MISO, vapor Bar, Manhattan, Strikers Skybar
Stitching Expenses

Suspense

TDS Receivable

Director Imprest

Director Reimbursement payables

 


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