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Home > Margerp > Voucher Entry > If Profit of Balance Sheet and Profit and Loss A/c does not match then how to resolve it in Marg Software ?
If Profit of Balance Sheet and Profit and Loss A/c does not match then how to resolve it in Marg Software ?
Cause:
This issue appears when the profit and loss from last year do not transfer to capital A/c.
Net profit belongs to the ownership of the business which is represented by the capital account. Therefore, the net profits or losses are ultimately transferred to the capital account.
- The user can view in Profit & Loss A/c '454.80' profit is displaying.
- In Balance Sheet '929.80' profit is displayed.
Solution:
In order to Match the Profit of Balance Sheet and Profit and Loss A/C, the user needs to follow the below steps:
1. Transfer profit in Capital A/C of Last Year.
2. Run Carry Balance in the Current Year.
After following the above steps, the user can view Profit of Balance Sheet and Profit and Loss will get matched in Marg Software.
