Capital advance grouping

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Accountant for multiple small entities
171 Points Posted on 23 February 2023
Hi Sir/Madam

Good morning

Please advise Capital advances grouping in Balancesheet for a proprietor entity

Is there any specific head in tally prime

Thanks in advance
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On 23 February 2023 at 11:58 Report
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This discussion clarifies how to group capital advances for a proprietor entity on the balance sheet. Capital advances are typically classified under 'Current Assets'. In Tally Prime, you can create a specific 'Capital Advances' group under 'Current Assets' for accurate reporting.

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Profession
28271 Points Posted on 23 February 2023
Capital advance taken by the firm.
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On 23 February 2023 at 14:55
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Finance Professional
37368 Points Posted on 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. 

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On 23 February 2023 at 14:59

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