reconcile er1 returns with trial balance/balancesheet

[Ramakrishnan Seshadri]

Dear Sir,

Could any one guide how to reconcile the er1 returns figure with the balance sheet sales figure.

What are the things to be taken for reconcilation.

Regards,

S.Ramakrishnan

AI Summary

Guidance on Reconciling ER1 Returns with Balance Sheet Sales: Tips on Handling Discrepancies and Accounting Differences A user inquired about reconciling ER1 returns with balance sheet sales figures, seeking guidance on necessary steps. One responder suggested creating an Excel template to account for various factors like goods removed but not sold, exempted goods, and inter-unit transfers. Another noted that discrepancies often arise between ER1 sales and annual accounts due to different accounting treatments, such as inter-unit transfers, depot sales, and credit notes. The complexity varies by business type, requiring adjustments for transactions not reflected in sales in annual accounts but appearing in ER1, and vice versa.