Overview of Net Profit in Marg Books

Process to view Net Profit in Marg Books

Process to Transfer Net Profit into Capital A/C in Marg Books

OVERVIEW OF NET PROFIT IN MARG BOOKS

In Accounting Terms, the Net Profit or Loss of a business is attributed to the owners, and this is reflected in the capital account. So, any net profits or losses are eventually moved to the capital account.

PROCESS TO VIEW NET PROFIT IN MARG BOOKS

• Firstly, click on 'Reports'.

• A 'Combined Report' window will appear.
• The user will click on 'Profit & Loss' under 'Accounts Report' tab.

• A 'Stock Valuation' window will appear.
• The user will select option as per the requirement.
• Suppose select 'No'.

• A 'Trading, Profit and Loss Account' window will appear.
• The user can view Net Profit is '46,707,69.70 Rupees'

PROCESS TO TRANSFER NET PROFIT INTO CAPITAL A/C IN MARG BOOKS

• Click on 'Accounting Transaction + Journal (+)'.

• A 'Journal Voucher' window will appear.
• The user will enter 'Date and Voucher No.' as per the requirement.

• Now, the user will select 'Dr' and press 'Enter' key

• A 'Ledger Master' window will appear.
• The user will select 'Profit & Loss' and press 'Enter' key on it.

• The user will enter the profit amount which was displaying in Profit & Loss A/c.

• Now, the user will select 'Cr' and press 'Enter' key.

• A 'Ledger Master' window will appear.
• The user will select the Capital A/C or Party Ledger ( Group under Capital A/c ) to whom profit needs to be transfer and Press' Enter' key on it.

• The amount will be fetched as mentioned in the credit.

• In 'Narration' field, the user will mention the narration as per the requirement.

• The user will click on 'Save' button.

After following the above steps, the user can Transfer Net Profit into Capital A/C in Marg Books.