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.
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.
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.
|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.|
|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.
|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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