Balance Sheet Feature – Now LIVE on Vyapar App!

Yes! The “Balance Sheet” is Released.

With this feature, Vyapar App helps you –

  • Easily understand your business’s financial status and help make better decisions.
  • Improve your business’s operational efficiency, borrowing habits, and overall financial health.

To get this feature, upgrade to the latest version (13.3.0) of the Vyapar App.

For Desktop Version –
Go to https://vyaparapp.in/ and click on “Download for Desktop”.
A file will be downloaded.
Click on it and wait for the application to update.
Note: Existing users need not worry about their business data. Your data will stay the same. However, we recommend taking a backup before downloading and re-installing the App.
Under the “Report” section, you can find the Balance Sheet.

For Mobile Version
Download Vyapar App from Google Play Store.
Old users need to update Vyapar App to version 13.3.0 from Google Playstore.

What is a Balance Sheet?

A Balance Sheet is a report that gives a summary of the financial balances of your business. You can use it to analyze your financial stability and business performance.

The 3 important sections of any balance sheet are:

  • Assets – Anything that has value and owned by your business.

  • Liabilities – Anything that is payable to others.

  • Equity / Capital – Ownership of assets that may have debts or other liabilities.

Why is the Balance Sheet Important for your Business?

The balance sheet shows you the big picture. When you’re running a business day today, it’s easy to get focused on whether cash is coming in or not, whether you can pay your bills. Balance sheets show your business’s progress over a period of time.

Here’s why it is extremely important for the growth of your business.

97% of Banks demand your business’s “balance sheet” when you apply for business loans to determine your eligibility for the loan.
Other money-lenders also require your business’s balance sheet to determine its financial health and creditworthiness.
It shows lenders that you have a track record of managing assets and liabilities responsibly.
It’s also a proof that you’re likely to repay your debts in a timely manner.
Balance sheets can be used to make informed business decisions.
They can be used to report your business’s financial status to lenders, investors, and other partners.
Your balance sheet allows people outside of your company to quickly understand its financial condition.
The balance sheet effectively shows your ability to collect payments and repay debts.
Even the government requires the balance sheet of an organization to know the correct picture of the business before providing any financial or non-financial assistance under any scheme.
The business growth can be determined by comparing the balance sheet of different years.
You can understand how your business is performing. You can start expanding business or plan for unforeseen expenses.
One can understand if the business is making profits or suffering from debts.

Easily generate a balance sheet for your small business with Vyapar App.

Sample Format of Balance Sheet

Here’s a detailed note on Sections and Sub-Sections in the Balance Sheet available on Vyapar App.

Section

Sub-Section

Description

Current Assets

Cash in hand  Shows the total balance amount available in your business on that day.
Bank Accounts  Shows the list of bank accounts you have and the remaining balances in each of them.
Undeposited Cheques  Sum of all the cheques that are not deposited yet.
Account Receivable / Sundry Debtors  Shows how much you are yet to receive from all your parties.

Other Current Assets

Inventory on Hand Sum of Closing stock value of all the items in your inventory.

Current Liability

Accounts Payable / Sundry Creditors Show how much money you owe to your parties.

 

Tax Payable Sum total of all the tax payable.

Tax payable = Total Tax collected – Input Tax Credit to Claim.

Equity/Capital

Opening Balance Equity Shows the opening balances of any stock item.
Owners equity Shows the owners’ share of the assets of the business.
Retained Earnings  Sum of net incomes of all the previous financial years.
Net Income  This will be the final net income of Profit and loss report.

 

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Happy Vyaparing!!!

 

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