Why is a reconciliation report needed?

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If the company is established in the form of an LLC or JSC, reconciliation statements are mandatory for accounting. According to the Order of the Ministry of Finance of Russia dated July 29, 1998 No. 34n , the organization is obliged to carry out an inventory of property before preparing annual financial statements. The table helps to identify undelivered materials or services not rendered.

Also, in accordance with the Tax Code of the Russian Federation, a company must generate reports if it operates under the general taxation system and creates reserves for doubtful debts - those that are not secured by collateral or will definitely not be paid.

Individual entrepreneurs are not required to keep accounting records. indonesia telegram mobile phone number list However, reconciliation reports can be created for other purposes. For example:

Find overpayment or debt. When a business has many suppliers and contractors, it is possible to fail to keep track of all transactions. For example, if an entrepreneur pays for goods in advance, and one of the shipments is not delivered on time and was promised to be sent later, but was never delivered. In this case, a table with calculations will help to see the shortage. The document also helps to avoid disputes, because the parties have recorded the debt in favor of one of them.
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