Balance Sheet feature in HDPOS smart consists of three major aspects of the financial
- Profit and Loss.
- Balance Sheet.
- Trial Balance.
HDPOS smart follows double entry system of accounting. Every transaction in HDPOS
smart has two effects Debit (Dr) and Credit (Cr). For every Debit entry, there will
always be an equal Credit entry.
Profit and Loss shows you the profit or loss that has been incurred for a given
financial year. Stock value will be calculated based on Last purchase price of the
items or based on FIFO (First-In-First-Out) price of the items.
Balance Sheet shows you the summary of your company’s assets, liabilities and owner’s
financial involvement. If a profit has been incurred the amount will appear on the
left side of the balance sheet. If there was a loss it would appear on the right
side of the balance sheet.
Trial Balance will show you closing balances of ledger accounts on the selected
date. Trial balance ensures that for every debit entry recorded, a corresponding
credit entry has been recorded in the accounting ledger. If the totals of the trial
balance do not match, the difference will be shown in order to investigate and resolve
them before financial statements are prepared. Double click on each account group
to see the related accounts in it. Check the opening and closing balances of each
account through ledgers. Go to the original transactions that are recorded in the
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