ID #1414

Is it possible to show stock value in Profit & Loss account, Balance Sheet and in Trial Balance?

Answer:

Now you can show Stock value in Profit & Loss account, Balance Sheet and in Trial Balance. To implement this feature please use the following steps…

Step1: Setting the option

  • Go to Main Menu > Settings > Application Settings > Global Option (T> A> G)
  • Go to ‘Value in Final Accounts from’ filed
  • Alt + L, it will open a list with the following options…
    • Inventory = If you set this option here FusionRetail 6 will calculate stock value automatically and then will show it in Stock value in Profit & Loss account, Balance Sheet and in Trial Balance.
    • Account  = if you set this option here you have to enter stock value manually.
  • Save
  • Completely log out and close FusionRetail 6.

 Step2: Creating an Account Ledger for Closing Stock

 

Step3: Entering stock value manually

If you select ‘Value in Final Accounts from = Account’ you have to enter stock value manually. Use the following steps…

  • Go to Main Menu > Master Data Management > Account > Closing Stock (M> A> S)
  • Alt + L
  • Select ‘Closing Stock’ from the list
  • In ‘Opening Stock’ field enter Opening Stock amount of book beginning date.
  • In ‘Date’ field enter date
  • In ‘Closing Stock Column’ enter closing stock amount
  • Save

 

 

For more details please visit:

Tags: Account Ledger, Balance Sheet, Pl Account, Setup, Trial Balance

Related entries:

You cannot comment on this entry