A Balance Sheet is a financial statement that reports a firm's financial position at a specific time. This report shows the balance between assets and liabilities of a firm, and the owner's funds. Balance Sheet follows the fundamental accounting equation of Assets = Liabilities + Owner's Equity.
To view the Balance Sheet:
Go to Gateway of Tally > Balance Sheet
Press F12: Configuration, and set the required parameters to display the Balance Sheet according to your preferences.
Note: Balance Sheet gets updated instantly with every transaction voucher that is entered and saved. You can view additional information or toggle to another report using the options available in the Button Bar.
Some of the button bar options are:
Select F1:Detailed/Condensed to explode the summarized information.
Change the date of the Balance Sheet using F2: Period.
View different effect of different Stock Valuations on the Balance Sheet.
Add up new columns to
Display the Balance Sheet for a different date to compare with current one
Display the Balance Sheet of another company when more than one company is opened
Display the Balance Sheet in a different currency
Display the budget figures, and analyze the variances
A new button S: Schedule VI is provided in Balance Sheet screen to view Schedule VI.
Click S: Schedule VI button to view Schedule VI Balance Sheet.
The Schedule VI Balance Sheet appears as shown below:
Click here to know more about Schedule-VI Balance Sheet
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