FAQ-Gen-Balance-Sheet

FAQ-Gen-Balance-Sheet

Answer: The Gen Balance Sheet is a part of Genius Software, through this software you can prepare final accounts by importing data form of trial balance and then preparation of Trading Account, statement of profit and lose & balance sheet as per latest revised schedule VI changes within it. It comes with some other features are given below:

  • Annual Report
  • Modify Trail Balance
  • Form 3CA/CB
  • Form 3CD New (With Wizard)
  • 3CD Schedules
  • 3CD Annexures
  • Receipt & Payment Account
  • CARO Report
  • Balance Sheet Abstract
  • Director’s Report
  • Notice
  • Company Auditor Report
  • Notes and Accounts
  • Ratio Analysis
  • Miscellaneous Certificates & Letters

Answer: It has the formats of both as new Revised Schedule VI and old Schedule VI.

Answer: TThe assortment of liability and assets have been changed in revised schedule VI, so one has to import which element is classified in what category.

  • For example, if there are any Intellectual property Rights such as Patents, copyrights, etc. are there you need to specify it as:
  • Non-Current Assets > Fixed Assets > Intangible Assets > Patents
    (For more details please take a demo of our software and see presentation Link given here).

Answer: You can import data from the list of accounting softwares that is given in our software as well as from our Excel template.

Answer: Yes, you can prepare Cash Flow and Fund Flow Statement with the help of this software.

Answer: Yes, as these changes are made as per the New Revised Schedule VI in format of Statement of Profit and Loss and Balance Sheet, it will be helpful in XBRL filling with revised taxonomy as well.

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