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
|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|