Statements of account and sales ledgers?

What do you look for when looking for discrepancies between a statements of account and a sales ledger?

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One Response to “Statements of account and sales ledgers?”

  1. Captain says:

    If in march your balance is 560,000 in the statement of accounts You look at the total sales in the ledger for march.

    If they disagree there is a discrepancy. The tax/vat man will always go by the HIGHER FIGURE.

    Finding a discrepancy does not always mean something is wrong, it could be in other paperwork such as the overheads file, you might have paid a light bill.

    A full discrepancy will be when you have no idea why the amount of cash you have is LESS than the sales. OR WORSE you cant account for some cash.

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