Bookkeeping & Write-up

It isn't necessary to have both, but if you prefer to see them separated out like this it is fine. That is just an accounting preference. It is more important to make sure the Due to Company B on Company A matches the Due from CompanyA on Company B. The mistake with most inter-company loans is that a transaction is only recorded on one set of books and a deduction or revenue is missed. 

Do you mean the statement balance is higher than the book balance? If that is case, I would assume payments were applied in full to the liability and not allocated to interest expense. You would need to debit interest expense and credit the liability to fix.

If the liability balance is higher than the statement balance that would require more information. If the liability was used to purchase an asset, the asset value on the balance sheet could be incorrect. Another possibility is if the owner (assuming this is a small business passthrough entity) paid part of the original purchase out of personal funds and the contribution was never recorded. 

Kiting refers to the practice of depositing and drawing checks at 2 or more banks and taking advantage of the time it takes for the 2nd bank to collect funds from the 1st bank. It also is a bookkeeping trick to illegally increase the face value of a check by changing the numbers on the check.

An aging schedule is a table of accounts receivable broken down into number of day ranges (age categories) such as 0-30 days = 1 month, 30-60 days = 2 months, and 60-90 days = 3 months, The aging schedule is used to determine if customer payments are keeping close to schedule or late or possible uncollectable.

Forecasting is a projection of the anticipated financial performance of a company. Forecasts typically include a projected income statement, a pro-forma balance sheet and a cash flow statement. In order to arrive at projected figures, extensive research should be done to including statistical information on the competition, product trends and client demographics. This information will help you obtain reasonable estimated sales amounts. You should also get quotes from suppliers and realtors to obtain estimated expense amounts. Projections are not a picture of what you would like to see happen to your company, but carefully calculated, realistic numbers. Speak to your local CPA to assist you in this process.

The historical cost principle requires that economic resources be recorded in terms of the amounts of money exchanged at that moment in time. When a transaction occurs, the exchange price is by its nature a measure of the value of the economic resources that are exchanged. This is in contrast to the fair market value which is the estimated value of the asset if sold on a specific moment in time.

The realization concept states that a accounting transaction takes place only for those economic events to which the entity is a party. This principle rules out recognizing a gain based on the appreciated market value of a still owned asset. A gain or loss on a marketable security occurs only when sold, not on the daily fluctuation of the share price.

The matching principle states that income is calculated by matching a period's revenues with the expenses incurred in order to bring about that revenue. The accrual concept is used to accomplish the matching principal. The bookkeeper will set up accruals of income earned but not received and expenses incurred but not paid to get a better matching of the company's income and expenses for a period.