Last Updated on: 5th July 2024, 01:48 pm

FAQ : Frequently Asked Questions

FAQ-01: What is Balance Sheet

Ans Balance Sheet is a Statement  showing the Assets & Liabilities as on a specified Date

FAQ-02: After finalising the Accounts for FY 12-13 (1.4.12 to 31.3.13), you printed Balance Sheet for the Period 1.4.12 to 31.3.13 and another one for the period 1.10.12 to 31.3.13. In what respect the two Balance Sheets will differ ?

Ans : Both the Balance Sheet would be similar as both of them depict the position of Liabilities  & Assets as on 31.3.13.

FAQ-03: Does the Balance Sheet Display show Balance of Ledger Accounts also ?

Ans :When you Display Balance Sheet (GoT>Balance Sheet), initially it is displayed in Condensed Form, showing only the Primary Major Groups are shown. Click F1:Detailed button  (or Alt+F1 key) to show the next level details (next level Groups / Ledgers). So, if there is any ledger account placed immediately under any of the Major Group of Balance Sheet, that Ledger only would be displayed in Balance Sheet in Detailed Format.

FAQ-04: In Balance Sheet in detailed format, how do you identify, which one is Group and which one is Ledger Account

Ans In Detailed Balance Sheet, the Group Names are shown in Normal Font, while Ledger Account Names  are shown in Italics

FAQ-05 : What you get when you drill down through a Group in Balance Sheet Display

Ans : You get Group Summary showing the Balances of next Level Groups / Ledger Accounts of the selected Group

FAQ-06: What you get when you drill down through a Ledger in Balance Sheet Display

Ans : You get Ledger Monthly Summary showing the break up figures (monthly summary figures) for each month  of the selected Ledger Account.