Work & More Work!

I’ve received a call from MYS manager saying that how come we have a huge credit balance in one of the balance sheet item. We were both wondering what has gone wrong and he would conclude that he would want to write the amount into the PNL account in order to sort of clean up the balance sheet. But that is not the right way. So I told him that he can do so for the time being but we still have to reconcile the account and tidy up the books in a proper way, which means I’ve to clean up 3 years of accounting entries!

I’ve asked the lady who did the accounts previously. She said that it was possible the account had accumulated through the years. Since she is not using the system to generate the particular report, she omitted using this account and hence the amount just kept on accumulating, WHICH IS TOTALLY WRONG!

Well, what had been done cannot be undone, now just have to try my best to clean up the account before the auditors picked up the issue.