Overview of New Financial Year Creation in Marg Books

Process to Create New Financial Year in Marg Books

Effects After New Financial Year Creation in Marg Books

OVERVIEW OF NEW FINANCIAL YEAR CREATION IN MARG BOOKS

• New Financial Year (2024-2025) is being created so that the user can easily start generating the entries from 1^st April 2024 in the Software.

PROCESS TO CREATE NEW FINANCIAL YEAR IN MARG BOOKS

• Firstly, click on 'Utilities & Tools'.

• An ‘Utilities & Tools’ window will appear.
• The user will click on 'New Financial Year'.

• A ‘Financial Year List’ window will appear.
• The user can view that the current financial year is shown i.e. 2023-2024, in which the work is done currently.
• Now, in order to create New Financial Year, click on 'Create' button.

• A ‘Create Financial Year’ window will appear in which the current financial year is shown in which the work is done i.e. 1^st April 2023 till 31^st March 2024.
• Along with it, the New Financial Year i.e. 1st April 2024 till 31st March 2025 will also be shown which is been created.
• The user will click on ‘Save’ button.

• The user will automatically be directed to the dashboard window of the Marg Books.
• The user can view that a dropdown with the name of ‘Financial Year’ has been added in which the current and the previous financial years will be shown.
• The user will switch to the new financial year from the current year with the help of this dropdown.

• A Confirmation window asking ‘Are you sure you want to change financial year?’ will appear
• Click on ‘Yes’.

After following the above steps, the user can easily Switch to New Financial Year in Marg Books.

EFFECTS AFTER NEW FINANCIAL YEAR CREATION IN MARG BOOKS

• Once the New Financial Year is created, all the previous year Ledger Balances, Outstanding, Stock Balances, Breakage Expiry Stock, Challans, Pending Orders, etc., will be carried forward to the New Financial Year.

Fig 1. Previous Year Ledger Balances in New Financial Year.

Fig 2. Previous Year Ledger Outstanding Balances in New Financial Year.

Fig 3. Previous Year Stock Balances in New Financial Year.

Fig 4. Previous Year Brk /Exp Issue Balances in New Financial Year.

Fig 5. Previous Year Purchase Challan Balances in New Financial Year.

Fig 6. Previous Year Sale Challan Balances in New Financial Year.

Fig 7. Previous Year in Purchase Order Balances in New Financial Year.

• If the user switch & does any work in the previous year and manages the stock, then its impact will also automatically get visible in real-time in the New Financial Year

• The user can easily switch & adjust the working & stock management as per the requirement for both previous and New Financial Years.

**For Example**

• In case any Pending Challans, Orders, etc., that exists in the previous financial year; they will get carried forward in the New Financial Year and can be adjusted accordingly in the New Financial Year.
• Also, the Pending Challans, Orders, etc., will get removed from the previous financial year once it gets adjusted in the New Financial Year.