Balance sheets are created to make it easy to control accounts. On the basis of the balance sheet, a balance sheet is displayed. Therefore, the correct and accurate filling of this document is essential.
Instructions
Step 1
The balance sheet contains information about the balances at the beginning and end of the period for each account, as well as the turnover on debit and credit in this period. It must be filled in after you make all the postings for each account, write off the cost price, calculate depreciation, and display all types of profit.
Step 2
This accounting document is drawn up on the basis of a chessboard. Let's assume that some accounts had balances at the beginning of the period. In the columns "Balance at the beginning of the period" and "Balance at the end of the period" there should be only one amount - either by debit or by credit. Active accounts must have debit balances, passive accounts must have credit.
Step 3
All turnovers for the month (represent the sum of transactions for both credit and debit) are entered in the appropriate columns. They can be both credit and debit.
Step 4
At the end of filling out the statement, you need to calculate the totals in each column. It is easy to check the correctness of filling out the balance sheet. The rule of pairwise equality of the totals of all columns must be observed: the debit opening balance is equal to the credit opening balance, the debit turnovers for the period are equal to the credit turnovers, the final debit balances are equal to the final credit balance.
Step 5
This document is usually drawn up for synthetic accounts, but it is quite possible to draw up an expanded statement for analytical accounts. The final total of a particular analytical group should be equal to the figure entered in the turnover sheet in the cell for this synthetic account.
Step 6
After a complete check of the balance sheet, the data should be transferred to the balance sheet.
Step 7
Of course, now at most enterprises there are computer programs that greatly facilitate the maintenance of accounting records, but the ability to manually fill in balance sheets will help to see the full picture of the movement of funds.
