FINANCIAL STATEMENTS BS AND PL OF A DOCTOR

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Shyam Gupta (Querist)
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08 August 2022 PLEASE SHARE EXCEL SAMPLE FORMAT OF BS AND PL OF A DOCTOR LIABLE FOR AUDIT U/S 44AB ON MY MAIL ID PALAK16AGRAWAL@GMAIL.COM
PLEASE PROVIDE SOON
THANKS

Aashok Kumar Sharma

Aashok Kumar Sharma

(Expert)
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07 July 2024 I'm unable to send emails or share files directly to your email address. However, I can guide you on how to create a basic format for Balance Sheet (BS) and Profit & Loss Statement (PL) in Excel that would be suitable for a doctor's audit under Section 44AB. Here's a simplified example of how you can structure these financial statements:

### Balance Sheet (Sample Format)

| **Liabilities** | **Amount (₹)** | **Assets** | **Amount (₹)** |
|-------------------------|----------------|---------------------------|----------------|
| **Current Liabilities** | | **Current Assets** | |
| Accounts Payable | | Cash & Cash Equivalents | |
| Loans Payable | | Accounts Receivable | |
| | | Inventory | |
| **Long-term Liabilities**| | **Property, Plant & Equipment** | |
| Loan from Bank | | Land | |
| | | Building | |
| **Equity** | | Equipment | |
| Capital | | | |
| Retained Earnings | | | |
| **Total Liabilities** | **Total** | **Total Assets** | **Total** |

### Profit & Loss Statement (Sample Format)

| **Income** | **Amount (₹)** | **Expenses** | **Amount (₹)** |
|-----------------------------|----------------|---------------------------|----------------|
| Consultation Fees | | Salary & Wages | |
| Medical Services Income | | Rent | |
| Other Operating Income | | Utilities | |
| | | Supplies | |
| **Total Income** | **Total** | **Total Expenses** | **Total** |
| | **Net Profit** | | |

### Notes:
- **Customization:** Customize the above formats based on your specific income and expense categories relevant to your medical practice.
- **Auditor's Requirements:** Ensure the formats comply with the requirements specified by the auditor under Section 44AB for your audit.
- **Financial Software:** Alternatively, consider using accounting software like Tally, QuickBooks, or any other software that can generate these reports and comply with audit standards.

If you need a more detailed and specific format, consider consulting with your auditor or accountant who can tailor the format according to your practice's financial structure and the requirements of Section 44AB audit.

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