[Gnukhata-users] about balance sheet statement

[Sneha Sawant]

To all,
 Today I discuss following points with kelkar sir,

The
 goal of all accounts writing is to be able to prepare and present a 
balance sheet in an appropriate form. Every act, such as Companies Act, 
Banking Act, Electricity Act prescribes a particular format for balance 
sheet. These formats are so designed taking into consideration 
peculiarities of the industry.

For GNUKhata, which is meant to cater to the needs of small and medium businesses, the format chosen is very simple.

As
 every one knows, the Balance Sheet is a statement of assets and 
liabilities of an organization. Naturally assets and liabilities are 
shown separately. Conventionally, liabilities are shown on the left side
 and assets on the right side. This form of balance sheet is called T 
Form balance sheet. In GNUKhata, we have adopted
 this form of balance sheet.

In Book Keeping, we have the following groups 
1.    CAPITAL
2.    LOANS TAKEN
a)    Secured Loans
b)    Unsecured Loans
3.    CURRENT LIABILITIES AND PROVISIONS
Accounts falling under the above heads will appear on the Liabilities side.

Similarly, accounts from the following groups appear on the Asset side.
1.    FIXED ASSETS
2.    INVESTMENTS
3.    CURRENT ASSETS & LOANS AND ADVANCES

The presentation of each line item as far as possible is done in the manner shown in the attached spread sheet.

I forget to attach spreadsheet in my earlier mail.
"Be free not proprietary"
   sneha
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