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What is the difference between vouching and routine checking?
Routine checking is where the books and accounts are checked to see that no discrepancies are there. Vouching is a periodic checking of each transaction to make sure it goes through correctly.
Differentiates between vouching and routine cheking?
The main difference between vouching and routine checking is that vouching requires personal knowledge of a person or thing. When someone is "vouched" for by someone else, the person who is vouching is using their good name as a guarantee.
Difference between routine checking and test checking in auditing?
# Routine checking is for verification of each and every items of books of a/c's Test checking refers to examination of selected numder of items. 2. Routine checking is to check all the transactions without exceptions. Test checking avoids immaterial items. 3. Routine checking is on routine basis. Test checking may be weekly, monthly or quarterly.
How is the double entry completed for items recorded in petty cash book?
Things has been done by me Checking of General Journal (GJ) checklist of Standard Fireworks (P) Ltd, Rajaratnam Fireworks Industries. Vouching of Petty Cash payment of Depots of Standard Fireworks (P) Ltd., Coordination and Preparation of all Depot Profitability of Sivakasi Fireworks Agency Checking and analyzing the travelling statements Preparation of Tax deducted at source statement (persons whose income exceeds the exemption limit) Checking and matching the records between the factory register and computer Some other routine work which have been done then and there.
What is routine checking in Auditing?
This is when you will go through everything occasionally. It allows for the chance to catch any mistakes or issues that may come up.
