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There will be many discrepancies in the trial balance if books are not kept properly

Expressions researched:
"There will be many discrepancies in the trial balance if books are not kept properly"

Correspondence

1971 Correspondence

There will be many discrepancies in the trial balance if books are not kept properly. Trial balance means to test how the accounts are kept scientifically. So if the accounts are not kept properly but haphazardly there will never be a correct trial balance.

Please accept my blessings. I beg to acknowledge receipt of your letters dated 17th August, 1971 and have noted the contents carefully. There will be many discrepancies in the trial balance if books are not kept properly. Trial balance means to test how the accounts are kept scientifically. So if the accounts are not kept properly but haphazardly there will never be a correct trial balance. To present a correct trial balance means to correct the whole past accounting system. One letter has just come from Giriraj in which it is said "As for accounts, at least the trial balance sheet has shown great discrepancies. For example I have collected Rs 70,000/- from the Maidan advertisers, but only Rs. 55,000/- has been recorded, and after being informed I was able to account for a possible Rs 5600/- of the difference, but still Rs 9,400/- is unaccounted for. Also a profit of Rs. 15,000/- was supposed to have been made due to the maidan programme, and that profit was to have paid off a previous Calcutta debt to the building fund, but now that Rs 15,000/- has been spent for maintenance, and an additional Rs 8000/- of membership money collected since the programme has also been spent, so the Calcutta debit is now Rs. 23,000/- and is increasing".Now who will be responsible to account for this Rs 23,000/-? Please let me know.And who has been appointed treasurer and secretary? The president, secretary and treasurer elected by the members of the center cannot be changed at least for one year; better to continue it for three years. All combined together should be responsible for keeping correct accounts. Giriraj is reponsible and he should be made the treasurer. You should remain as president and Achyutananda Swami as secretary. So make arrangements in that way.Yes, we are prepared to purchase the land at a rate of not more than Rs 1500/- per bigha. They are under the impression that Americans will purchase at any price so don't be taken in. We can purchase any neighboring land at the above price. You can negotiate and consult with D.C. Sarkar in this connection.

Page Title:There will be many discrepancies in the trial balance if books are not kept properly
Compiler:SharmisthaK
Created:2022-08-31, 12:13:21
Totals by Section:BG=0, SB=0, CC=0, OB=0, Lec=0, Con=0, Let=1
No. of Quotes:1