Journal Voucher Register: we are unable to extract as per basic requirement to perform day to day working as wel as tax compliances.
Expenses Included in valuation A/c: also reflects Landed cost voucher entries. the said voucher entries are only for the purpose of valuation of stock.
Issues in trf entry from Bank ($) a/c to Bank (INR) as wel as Vis a Vis.
When we make trf entry from one bank ($) a/c to Bank (INR) a/c.
We must follow FIFO method for use of such dollers for various reasons.
And you know that we are receiving $ from Export sales & same will use in Import or Travel card or may be transfer to INR A/c. so, if we received 1000$ @ 64/$ and another of 5000$ @ 66/$. we will book same in our $ a/c by considering such Exchange rate. when we will paid to importer like Rs. 12500 then a/c team will face problem about which rate to be considered for such transactions.
Even I checked to allocate payment but allocation is only for Purchase entry, PO entry & Journal entry. I tried to pass JV to remove effect of Exchange rate in Bank ($) a/c but could not suceed.
- Depriciation on Opening Assets:
in this case, issue is that we have some cummulative amount in opening balance. still we are trying to justify each asset whether it is lying with us or not.
- Repot of some Financial Ratio:
We requires Chart of some Financial Ratio like, Gross Profit Ratio, Net Profit Ratio, Stock Turnover Ratio, Working Capital Ratio, Debt/ Equity Ratio, Sales Turnover ratio and more.
- Value of Fixed Assets:
Some assets like Vehicles, we can not avail tax credit so we have to add on cost of vehicle as a part of cost. so, there is no any option to added back the same in basic value. yes we can consider gross value at a time then issue will raise at the time of Return filling. coz tax must be reflect seprate.
- Balance sheet sould be flexy with custom period:
if you said that you need status of balance sheet as on such date then we are helpless: so, it should be option as shown in Trial balance.
- Report of Profit & Balance sheet:
Some times we have to submit monthly or Quartery report of balance sheet/ P&L a/c. but in our system, it shows only net effect in that period only. it means Result of Q3 i.e Oct_Dec shows sumtotal of Debit-Credit only. it must be included Opening bal. i.e Cl bal of Q2.