Savings account in balance sheet

1974 views 3 replies

Hello there,

I have a sole proprietorship firm. I was not showing the savings account balances under the current assets in the balance sheet previously and was only showing the current account. I have been thinking to show savings account and their balances from next fy. Can I do that? Should I show the saving account or not? Any benefit of this approach? Please let me know. Thanks!

Replies (3)
yes you can show it . there's no benefit as such to the business.only thing is you can track the movement in your account
If your business transaction is occured through savings account then you need to show your savings account in balance sheet

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