If Profit & Loss A/C and Balance Sheet Profit Amount does not Match then how to resolve it in Marg Software ?

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Home > Margerp > Profit And Loss > If Profit & Loss A/C and Balance Sheet Profit Amount does not Match then how to resolve it in Marg Software ?

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Ans.1

Cause:-

It is due to Last Year Profit Amount has not Distributed.

Note: The user will pass the journal entry in the Last Financial Year.

In order to resolve the mismatch between profit and loss and balance sheet, the user needs to pass a 'Journal Entry' as below:

1. Go to Accounts > Voucher Entry > Journal > journal .

2. Feed Date > Then select ledgers as below:-

Profit & Loss A/c Dr.

To Capital A/c Cr.

To General Reserve A/c Cr.

To Partners A/c Cr.

After Passing the Journal entry in Last Year, the user needs to Run Carry Balance in Current Financial Year.

After following the above steps, the mismatch in balance sheet and profit and loss will get resolved.

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