Schedule VI Balance Sheet is now available with Release 3.2 of Tally.erp 9. Here, is a complete step by step tutorials to help to generate the Scheduled Balance Sheet from Tally.erp 9. The default Tally.erp 9 does not generate a detailed balance sheet, makes it complicated to study the same. Here, this option gives an in-depth view of the Financials.
Schedule VI Balance Sheet | Why it is requiring?
All Companies registered in India are requires to prepare their Financials in the format provided in Schedule VI of the Companies Act. This format is popularly knowing as Schedule VI Balance Sheet and is used to generate Balance Sheet in Schedule VI format. It is useful not only for companies but any other types of business units. The default Tally.erp 9 does not provide us a detailed balance sheet, which shows ledgers under groups so, here Schedule balance sheet helps all of us to view and print the balance sheet in detailed format.
Schedule VI Balance Sheet| How to enable it in Tally
It does not require any specialized efforts to generate the balance Sheet in Schedule VI. Just go to Balance sheet in your Tally software and the below screen shot will appear.
In the above screen shot on the right side panel, there is an option Schedule VI ? Hit it and the below screen will be available.
Again see on the right side panel and there is some option. If there is no previous year in your Company data, than the Show previous year option will be inactive. If there is previous data exist in your current company data, than it will generate the current year balance sheet as well as the previous year balance sheet so, it is easy to compare both year data. If the data has not splited your data than this option is very useful for you.
Another valuable option is arranging Schedule Number, hit the Sch. No. showing in the right side bar and below screen will appear.
Schedule VI Balance Sheet| Why one should use it
Although, this Sch VI Balance Sheet is compulsory for Companies, yet anyone can use it! The biggest benefit is that one do not need any detailed Balance sheet Tally TDL to view the detailed financial. Scheduled balance sheets represents data in a professional manner, and with complete detailed information.
In, the next post, we will more about some tips and tricks related to this Balance sheet