Pls tel me finalisation of accounts thanks karan
From India, Indore
I thing you know very well about finalization of accounts. ok i just remind you,
1. Journalise each and every transaction.
2. Posting to ledger.
3. Prepare Trial balance.
then prepare final accounts like, Trading and P & L Accounts and B/S.

From India, Agartala
Journalise means every transaction should be right or confirm what do means. did not any doubt for the entry.
From India, New Delhi
Journalise means making journal entries in the books of accounts
From India, Agartala
Dear Karanshiv,

Kindly note the proceudre of Balance Sheet.

1. To post all entries in the set of books.

a) Cash Book / Bank Book.

b) Petty Cash.

c) Journal Register.

d) Purchase Register.

e) Sales Register.

etc. etc.

2. Then post all the entries in all Proper Account Head.

3. Do the Balancing the of Accounts (this is called as trial balance)

This should tally i.e. total debit should match with total credit balances.

4. Then Transfer all revenue expenses to New Ledger Called Profit & Loss Account.

5. All Capital Assets Liabilities Account will reflect in Balance Sheet.

Items which are having Debit Balance will appear on Asset Side of Balance Sheet

Items which are having Credit Balance will appear on Liabilities Side of Balance Sheet.

The net off Balance of Profit & Loss Account will be transferred to Capital Account.

6. Your Balance Sheet Should be tallied.

This is rough scalaton of Finalization.

It is not possible to illustrate the same on site. For any doubt please write

Ramakant

From India, Pune
Dear Sir Pls send Sales & Purchase Register as a Daily & Monthly Bisc in Excel format

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