Steps for preparing revenue and expenditure bills

May 25, 2018 | By admin4u | Filed in: Uncategorized.

The steps are as follows:

1. Ignore Opening and Depositing Cash and Bank Accounts that are listed in the Invoice and Payments Account

. Remove any capital gains and payments.

3rd Determining the income of a given year from all the proceeds of the proceeds from the previous and the future years and by adding the income that had been accounted but received yet but not received in the previous year but received in that year [19659002] 4. The relevant by deducting total expenditure for the previous period and the subsequent period by adding the remaining expenditure and adding pre-paid expenditure to the beginning [5]. Modify the adjustments, for more information, such as depreciation, bad debt, etc. If there are any

. The revenue and expenditure account, if balanced, surplus (if the credit side is bigger) or a shortage (if the deposit page is bigger) is displayed. If the surplus, ie surplus revenue, increases it for the capital or for the accumulated fund. However, if the deficit, that is, the surplus expense exceeds the income, then deducts it from the capital or from the accumulated fund.

Difference between receipt and income

"Receipt" But "Revenue" means total income for the given year.

The distinctive points between the two are: –

Receipt

1. All received cash on receipt.

2nd It is not limited to any accounting year. In other words, it may include the cash received with any past, present or future of the year.

3rd Both capital and income can be.

4th In case of acceptance, the cash increase is equal to the amount of receipt

5. An item can not be called a "receipt" unless it receives equivalent cash.

6th It is listed on the debit side of the cash register.

7th It is not included in the final report. In other words, they do not take into account the worrying outcome.

Income

1. The received mayor may not be considered as income. Funds received for the current year should only be regarded as revenue

. Only limited to the current accounting year

. It's just revenue-making.

4th In case of income, cash can not be increased by the amount of income

. An item can be "income", even though no money has arrived.

6th It is included in the income and expenditure account.

7th

Difference between payout and expense

Payment is the total amount paid during the current year. Expenditures, however, represent only the total expenditure for the current year.

The distinctive points between the two are as follows: –

Payments

1. Any paid cash that is considered as payments

. It is not limited to any accounting year, ie it may include cash paid from year to year, past, present or future

. Both capital and income can be.

4th In case of payment, the cash reduction is equal to the amount of the payment.

5th An item can not be called "pay" unless equivalent cash is paid

. It is on the credit side of the cash book, that is, the cash account.

7th It is not included in the final report. In other words, they do not take into account the results to be worried.

Releases

1. A paid-in mayor can not be considered a publisher

. Only limited to the current accounting year

. It's just revenue-making.

4th The mayor may not reduce amounts equal to the amount of expenditure

. An item can be "edited", even if money is not paid

. Revenue Revenues and Expenditures

7. This should be taken into account in the final report.

Source by Anil Kumar Gupta


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