Kishore Nuthalapati (Accountant for multiple small entities) (147 Points)
23 February 2023
Mitali
(Finance Professional)
(11046 Points)
Replied 23 February 2023
Capital advances are generally shown under the head 'Current Assets' in the Balance Sheet of a proprietor entity. This is because capital advances are assets that represent advance payments made by the proprietor towards future expenses or investments.
In Tally Prime, you can create a group under the 'Current Assets' head and name it 'Capital Advances' to classify all such advances.
"Live class on Python for Financial Analysis: Unlocking Efficiency in Accounting and Finance"
GST Live Certification Course (39th Batch) - April 2024 (Weekend Batch) (With Certificate)
CAclubindia
