Profit & Loss Account and Balance Sheet

Madhavi_Pandey

Hi Experts,

Is anyone created Profit & Loss Account and Balance Sheet statement as per Indian Localization.I need reports for my customer as per these financial statement.

ssingla

You can create the Balance Sheet and P&L easily in Account Schedule.

Madhavi_Pandey

ssingla wrote:

You can create the Balance Sheet and P&L easily in Account Schedule.

Yes i knew it i have already created both the statements,plz find the attachment,
the Direct Cost Applied Account showing negetive(covered under Manufacturing Account total),how can i rectifying it so that manufacuring amount will show positive(its a purchase related expenses,Purchase Account shows with positive figure but Direct Cost Applied Account shows as negetive,and i think i have done some mistake in preparing Balance Sheet.Suggestion required,thanks in advance.

ssingla

DCA account should be a part of Purchase Cost and not manufacturing expenses.
In addition this could be a good guidance for you (Thanks to Alex):
http://mibuso.com/howtoinfo.asp?FileID=21