How to close Profit & Loss account (Income And Expense Accounts)?
Log in to ADDA -->> Admin Dashboard -->> General Ledger -->>Trial Balance -->>Please find the option “Perform Year End” -->> After checking all activities freeze option will start showing. Once you click on it, the accounting year will be freezed.
Click on Automatically Pass Retained Earnings -->> Select The Financial Year -->> Click on “Choose Financial Year” -->> Verify Total Income And Expenses at the bottom of the page -->> Click “Pass Entries into Retained Entries for Account Closure”.
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I would like to close and freeze my books of accounts, how can that be done on ADDA?
Please refer the steps below to close and freeze my books of accounts: Step 1: Login to ADDA -->> Admin -->> General Ledger -->> Trial Balance -->> Perform Year-End -->> Mark “Status” as Done >> After selecting all activity, click on “Save Changes”. ...
How to enable E-Invoicing feature on ADDA?
To ensure consistency, precision, and openness in the invoicing process within residential associations, the government has implemented e-invoicing regulations and guidelines. These regulations may necessitate associations to adhere to a standardized ...
How to add Income Head?
Kindly follow the below steps to ADD the income head: Step 1: Go to Admin -->> General Ledger -->> Chart of Accounts Step 2: Select the respective option from Income for the type of ledger account you want to create. Step 3: Select the Group from ...
How do I view the Balance Sheet, Profit and Loss Statement as an auditor?
Log in to ADDA -->> Admin Dashboard -->> General Ledger -->> Reports -->> 14. Balance Sheet, Profit & Loss Report.
How to add an Expense head?
Go to General ledger>>Chart of accounts>>Expense>>Enter the details i.e Groups, GL Account No, Account Name, and Bank account>>Click on Save changes.