Overview & Benefit of Opening Balances in Marg Books

Process to Feed Opening Balances (Ledger) in Marg Books

OVERVIEW & BENEFIT OF OPENING BALANCES IN MARG BOOKS

• The Opening Balances option is used to specify the opening balance. For instance, if the user is dealing with the party from the past two years and now wants to maintain its entry in the Marg Books, then the old balances can be used to specify the opening balances of the party.

• The Ledger Opening option used to enter the opening balances of the ledger accounts. If there are some outstanding balances of the company/party of the previous financial year then it can be entered in this option as an opening balance.

PROCESS TO FEED OPENING BALANCES (LEDGER) IN MARG BOOKS

• Go to Master >> Opening Balance >> Ledger

• An ‘Opening Balance’ window will appear with a list of ledgers.

• Suppose the user needs to mention the Cash Balance then click on ‘Edit icon’ corresponding to ‘Cash Account’ ledger.

• A ‘Modify Ledger’ window will appear.

• Opening Balance: In ‘Opening Balance’ field, the user will mention the Opening Balance as per the requirement.

• Suppose enter 5000.

• Then Click on ‘Update’.

• A pop up of ‘Record updated Successfully’ will appear.

• The user can view that the Amount has been displayed against the ledger of ‘Cash Account’.

• Similarly if the user needs to mention the Opening Balance in the ledger of any party then click on ‘Edit icon’ corresponding to that party’s ledger.

• A ‘Modify Ledger’ window will appear.

• Suppose the payment needs to be taken from this party then in ‘Opening Balance’ field, the user will mention i.e. ‘Rs. 2000’ as a Debit amount.

If the party is a debtor then the amount will come in Debit and if it is a creditor then the amount will come in Credit.

• Then click on ‘Update’.

• The user can view that the Amount has been displayed against the ledger of ‘National Medical Agency’.