The Short List Your CA Opens at Closing
After the rules and the suggestions have done their work, a handful of lines are left. Each one gets a reason in plain words, written by somebody who knows what it was.
₹18,500 from a name nobody recognises
It arrived in July. The salesman who would have known has left. On a printed sheet that credit is a tick mark or nothing at all, and by March it is part of a difference nobody can open. Here it is a line with a note saying the sales manager is checking it.
What sits on each line
One line, one reason
Bank charge to be posted, cheque not presented, receipt from a party being identified, an old difference waiting for a decision. Written, not remembered.
Sorted by age
The oldest unexplained entries come to the top, because those are the ones that turn into the difference carried forward every quarter.
A name and a date
Who wrote the reason and when. If the reason changes later, the earlier one stays in the trail rather than being painted over.
What becomes an entry
Some lines end as a posting in the books, some as a cheque cancelled, some as a write-off. Each of those actions is taken from this list.
The routine around it
It works best as a weekly habit rather than a quarterly ordeal.
- The accounts assistant clears what he can explain
- The questions go to whoever knows the customer
- Anything older than a month is looked at again
- Your auditor reads the same list, with a read-only login
Frequently asked questions
Will it write the reason for us?
No, and it should not. A credit from an unknown name is a fact about your business, not about the statement. What the software does is refuse to let that line disappear until a person has said something about it.
Can the list be given to our auditor?
Yes. He gets a read-only login and opens the same list with the reasons, the names and the dates on it. Every view and export is logged, because statements carry your banking detail.
How short should this list be?
Shorter every month. A first reconciliation on an old account can run to dozens of lines. Once the opening differences are dealt with and the rules are in, a normal month leaves single figures.
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