Calculating depreciation is a highly complex aspect of submitting annual financial statements for local self-government institutions. To avoid this complexity, some attempt to finalize the figures using data from only the previous year. However, in accordance with Government Order No. G.O.(Ms) 212/2012/LSGD dated 06-08-2012, depreciation must be calculated based on an examination of records spanning up to 50 years.
We only have access to data from the 'Local Sankhya' software dating back to 2011. Errors may occur when migrating reports from Sankhya and ILGMS into K-Smart; therefore, it is necessary to verify the accuracy of the reports obtained after conversion.
For this purpose, Block and District Panchayats must export the balance sheets from Sankhya and K-SMART as of 31-03-2025 to Excel, while Urban Local Bodies must do so as of 31-03-2024. If these reports are pasted into the 'Saankhya Heads to KSmart Converter with Verification Helper' tool, a detailed report is generated. This report categorizes items into: those successfully converted with a match, those converted but without a match, heads that were not mapped for conversion, and heads visible in KSmart that were not converted from Saankhya. The mapping in the tool's mapper sheet must be adjusted to reflect the discrepancy between the closing balance in Sankhya and the opening balance in K-SMART for each local self-government institution.
A tool for migrating ILGMS data from Grama Panchayats to K-Smart and performing verification—the "ILGMS Heads to KSmart Convertor with Verification Helper"—is also available on the blog.
These tools can be downloaded for free from the Panchayat Help Desk blog. Please feel free to share any queries or suggestions regarding the tools.
9446407279
Manoj Mukundan
To Download
ILGMS Heads to KSmart Convertor with Verification Helper
CLICK HERE
See Also
This tool will help us to convert Saankhya Reports of Municipalites and Corporations to KSmart. Not only it helps to convert, it further helps to verify the correctness of Coversion
This tool will help us to convert Saankhya Reports of Grama Panchayaths, Block Panchayaths and Corporations to KSmart. Not only it helps to convert, it further helps to verify the correctness of Coversion
This tool will help us to convert ILGMS Reports of Grama Panchayaths to KSmart. Not only it helps to convert, it further helps to verify the correctness of Coversion
Calculating depreciation is a highly complex aspect of submitting annual financial statements for local self-government institutions. To avoid this complexity, some attempt to finalize the figures using data from only the previous year. However, in accordance with Government Order No. G.O.(Ms) 212/2012/LSGD dated 06-08-2012, depreciation must be calculated based on an examination of records spanning up to 50 years.
We only have access to data from the 'Local Sankhya' software dating back to 2011. Errors may occur when migrating reports from Sankhya and ILGMS into K-Smart; therefore, it is necessary to verify the accuracy of the reports obtained after conversion.
For this purpose, Block and District Panchayats must export the balance sheets from Sankhya and K-SMART as of 31-03-2025 to Excel, while Urban Local Bodies must do so as of 31-03-2024. If these reports are pasted into the 'Saankhya Heads to KSmart Converter with Verification Helper' tool, a detailed report is generated. This report categorizes items into: those successfully converted with a match, those converted but without a match, heads that were not mapped for conversion, and heads visible in KSmart that were not converted from Saankhya. The mapping in the tool's mapper sheet must be adjusted to reflect the discrepancy between the closing balance in Sankhya and the opening balance in K-SMART for each local self-government institution.
Depreciation Calculation Helper is a tool which helps accountants in Local Self Government Institutions of Kerala to Calculate depreciation values of Assets. It incorporates Balance sheet of previous years to calculate the depreciation of each assets. This tool will be very helpful for Grama Panchayaths, Block Panchayaths, District Panchayaths, Municipalities and Corporations.
