A Gst registered tax payer annual turnover rs:2 crores above all purchase and sale transaction payments and receipts through on bank mode bank account statement huge number transactions 100 pages statement
1.cash deposit transaction in bank current account huge number of transactions
2.upi sales transactions in bank account huge number of transactions
3.receipts from debtors amount in bank account
Question:
Assessess bank statement huge number transactions bifurcation procedure for accounting purposes f.y.22-23.
Due to UPI transaction, bank statements are legthy now. One should account banking transactions on regular basis to avoid any factual mis-statement at last moment.
It is advised to account regularly, instead of accounting at year end.
Now, you should export statement in excel and using pivot table filter personal transactions and deduct debtors and creditors based on transactions.
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