As a Seller What Document need to Check for Balance Sheet.
The balance sheet is a mirror of a business.
Any kind of financial decision is taken after looking at the balance sheet. The balance sheet is important but more than important is to verify the balance sheet
documents . Which document need to check are Given Below .
Check list For
Balance sheet
1)
At first Check almost previous 5 year Balance Sheet .
2) Check Original tread license
3 ) Check Pan Card , Adhere and Voter Card of tread license holder .
4) Goods and Services Tax
Certificates and Goods and Services Tax Application Documents should be looked
at carefully .
5) Check Any type of Loan taken
against from Balance Sheet.
6) Every ledger Account on Show
Balance Sheet Opening Balance Check Sincerely .
7) Inspect the cash balance sincerely and check if the cash limit of the Income Tax Act is being followed .
8) The bank accounts shown on the balance sheet. They need to check their document Carefully .
9) Any Type of Investment shown on Balance sheet . Check they are term
& condition and Maturity Date
10) See what percentage of all
liabilities have been paid. Good For At least 50 percent should be paid.
11) See what percentage of the balance of the debtors is outstanding.
12) How many stocks are mentioned
in the balance sheet? Try to check that stock directly.
13) It is important to check
whether any lease godown agreement and any other arrears have been paid.
14) It is important to check if there are any legal issues with the business.
15) See also Time to time Good
and Service Tax and Income Tax paid Documents At least 5 years .
16) Check Any type of loan Taken For Business and how much amount Repayment for
Loan.
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