FINANCIAL STATEMENTS BS AND PL OF A DOCTOR

This query is : Resolved

Shyam Gupta (Querist)
Follow

08 August 2022 PLEASE SHARE EXCEL SAMPLE FORMAT OF BS AND PL OF A DOCTOR LIABLE FOR AUDIT U/S 44AB ON MY MAIL ID PALAK16AGRAWAL@GMAIL.COM
PLEASE PROVIDE SOON
THANKS

Asha Kanta Sharma online

Asha Kanta Sharma

(Expert)
Follow

07 July 2024 I'm unable to send emails or share files directly to your email address. However, I can guide you on how to create a basic format for Balance Sheet (BS) and Profit & Loss Statement (PL) in Excel that would be suitable for a doctor's audit under Section 44AB. Here's a simplified example of how you can structure these financial statements:

### Balance Sheet (Sample Format)

| **Liabilities** | **Amount (₹)** | **Assets** | **Amount (₹)** |
|-------------------------|----------------|---------------------------|----------------|
| **Current Liabilities** | | **Current Assets** | |
| Accounts Payable | | Cash & Cash Equivalents | |
| Loans Payable | | Accounts Receivable | |
| | | Inventory | |
| **Long-term Liabilities**| | **Property, Plant & Equipment** | |
| Loan from Bank | | Land | |
| | | Building | |
| **Equity** | | Equipment | |
| Capital | | | |
| Retained Earnings | | | |
| **Total Liabilities** | **Total** | **Total Assets** | **Total** |

### Profit & Loss Statement (Sample Format)

| **Income** | **Amount (₹)** | **Expenses** | **Amount (₹)** |
|-----------------------------|----------------|---------------------------|----------------|
| Consultation Fees | | Salary & Wages | |
| Medical Services Income | | Rent | |
| Other Operating Income | | Utilities | |
| | | Supplies | |
| **Total Income** | **Total** | **Total Expenses** | **Total** |
| | **Net Profit** | | |

### Notes:
- **Customization:** Customize the above formats based on your specific income and expense categories relevant to your medical practice.
- **Auditor's Requirements:** Ensure the formats comply with the requirements specified by the auditor under Section 44AB for your audit.
- **Financial Software:** Alternatively, consider using accounting software like Tally, QuickBooks, or any other software that can generate these reports and comply with audit standards.

If you need a more detailed and specific format, consider consulting with your auditor or accountant who can tailor the format according to your practice's financial structure and the requirements of Section 44AB audit.