How to do Closing Balance in Fresa Application

Find the below process to do the Year-End Journal.

1. Generate the Profit and Loss report for that period (audited summary)

2. Create journal entry at 31-Dec based on PNL. Enter all Debit summary value to Credit. Enter all Credit Summary value to the Debit side. Enter diff amount to “Retained earning a/c” Here you are going to learn about the steps to do the closing balance in Fresa Application.

1. First, log in with Fesa Gold, Navigate to All Voucher, select the Voucher Type as Journal Voucher, click Create Single button (Fig.1).

Fig.1

2. Enter the Required details like Voucher Date, Book, Currency, Exchange Rate and click Save button(Fig.2).

Fig.2

3. Now the voucher is successfully created. (Fig.3)

Fig.3

4. Now to Add the Account details, Click the Add button and Add the reverse entry of the Profit and Loss report. Example In profit and loss report the SEA FREIGHT FCL COST   —  dr-1000 in Account details choose the CR/DR as DR(Fig.4)

Fig.4

5. Now for the difference amount, select the Retained Earning ledger and enter the difference amount as below, the Credit and Debit should be same in Journal Voucher (Fig.5)

Fig.5

Now in the Profit and Loss Report, the amount will be 0. I hope you got an idea about the Closing Balance.