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Home > GST > Help Center > Impact of Vouchers on Balance Sheet Last Updated: Nov 06th 2024

How Voucher Entries impact Balance Sheet

Have you ever considered the affect of voucher entries on balance sheet items on both the asset and liability sides? Learn more into the impact of each category



Importer Exporter Code - Explained

What is a Voucher?

A voucher is a transaction entry that is used to document the daily activities of an individual, such as the purchase or sale of an asset, the granting or collection of a loan, the depositing or redeeming of a fixed deposit, and so forth.

A voucher category and a transaction event are typically associated with each voucher, which in turn affects the asset or liability side of the balance sheet.

The balance sheet in EZTax.in Books Portal automatically includes the typical sales or purchases of products or inventory; however, there are instances in which it is desirable to record specific transactions as part of vouchers.


How Vouchers affect Balance Sheet ?

The following table displays the impact of the transaction on each balance sheet item on the asset or liability side, or both, by voucher category and transaction event.

Voucher CategoryAssets / LiabilityTransaction EventBalance Sheet ImpactProfit and Loss Impact
Asset SideLiability Side
Assets - TangibleAPurchased Tangible Asset
 Cash/Bank
Sold Tangible Asset
 Cash/Bank
(Sale value - Purchase value) should be credited to PL
Assets - IntangibleAPurchased Tangible Asset
 Cash/Bank
Sold Tangible Asset
 Cash/Bank
(Sale value - Purchase value) should be credited to PL
Loans & Advances givenAGranted Loans and Advances Given
 Cash /Bank
Collected Loans and Advances Given
 Cash /Bank
InvestmentsAPurchased Investments
 Cash /Bank
Collected Investments
 Cash /Bank
(Sale value - Purchase value) should be credited to PL
Cash in BankADeposited Bank
 Cash
Withdrawn Bank
 Cash
Cash in HandADeposited Bank
 Cash
Withdrawn Bank
 Cash
Fixed DepositsADeposited Fixed Deposit
 Cash/Bank
Redeem Fixed Deposit
 Cash /Bank
(Sale value - Purchase value) should be credited to PL
Any Other AssetAPurchased Any other Asset
 Cash/Bank
Sold Any other Asset
 Cash/bank
(Sale value - Purchase value) should be credited to PL
Capital Work in ProgressA Capital Work in progress
 Cash/Bank
Taxes - Advance Tax (IT)APaid Cash/Bank
 Advance Tax
TDS ReceivableAOpen Balance TDS receivable
 Sundry Debtors
Bank OverdraftLTaken Bank Bank OD
Repaid Bank Bank OD
CapitalLBrought Cash/Bank Capital
Returned Cash/Bank Capital
Borrowings - Long TermLBrought Cash/Bank Long Term Borrowings
Returned Cash/Bank Long term Borrowings
Loans - SecuredLBrought Cash/Bank Secured Loans
Returned Cash/Bank Secured Loans
Loans - UnsecuredLBrought Cash/Bank Unsecured loans
Returned Cash/Bank Unsecured Loans
Taxes - Output GSTLPaid Cash/Bank Output GST
Set off Input GST Output GST
Borrowings - Short TermLBrought Cash/Bank Short Term Borrowings
Returned Cash/Bank Short term Borrowings
Any Other LiabilityLBrought Cash/Bank Any other Liability
Returned Cash/Bank Any other Liability
TDS PayableLPaid Cash/Bank TDS Payable



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Disclaimer: This article provides an overview and general guidance, not exhaustive for brevity. Please refer Income Tax Act, GST Act, Companies Act and other tax compliance acts, Rules, and Notifications for details.