Aging total not tally with control

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FAQ: Aging (whether debtors or creditors) with trade controls in Balance Sheet is out by a few cents.

: Aging not tally with trade controls accounts in the Balance Sheet


 

 

Answer :

1.Due to rounding off in aging using 4 decimal place to compute the base currency and printing in Balance sheet using 2 decimal place
2.For audit purpose, auditor use aging as a schedule to show the breakdown in the balance sheet. The few cents difference will not materially distort the financial statement.
3.Auditor will round off to dollars in the final audit report anyway, so there is no undue worry of the few cents difference.
4.Opening balance exchange rate is use transaction rate instead of table (Month end) rate. See below

 

   

 

 


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