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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Capital advance grouping
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Quick Summary
Capital advance taken by the firm.
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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