Interview query CA urgent

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This query is : Resolved

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A user is seeking advice on efficiently preparing balance sheets in Excel, particularly when dealing with frequent changes in the trial balance. Their current method involves manually linking schedules, which is time-consuming. They are looking for a formula-based solution, like SUMIF, to automatically update the balance sheet when figures in the trial balance change, especially with a large number of line items.

CA Parul Saxena

CA Parul Saxena (Querist)
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01 July 2023 The person asked me how you prepare the balance sheet in excel. I replied i export the trial then schedules are linked with trial and Balance sheet and P/L items are linked with schedule. Then he said suppose there are various changes in trial then you again put all the fig in trial i said yes he said that it is a very lengthy process..
Don't you know any formula that if any fig is changed then automatically balance sheet is changed ? there are 5000 line items in your trial then how would you manage...
Please guide