Week 3

Dt: 7 May 12

Today we received the ledger confirmations from all the clients from their books of accounts and so after receiving these ledger confirmations we started tallying accounting details of both the companies that is our company Blue Circle Organics with the clients. On tallying accounting details of all companies we found that there are some transactions not recorded, excess payments made, O/s recivables and payables that are pending from past three to four years and TDS are not deducted and ITR has already being filed. So after finding out these mistakes in accounts, we started tallying opening balance and closing balances in case of any error or mistakes made in them. After started going through each and every entry from starting till the end that form 1st Apr 06 to 31st Mar 12. We found some faults and errors which acted as a barrier in tallying accounts. After that I was given task of recording all petty cash transactions since 4th Apr 12 till 3rd May 12 this included details regarding Voucher number, Date of transactions, Account Head, Expenses made by the person, for what purpose is the expenses made , by whom was this expense approved and of what amount was this expense made.