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How the make profit and loss account and balance sheet in tally?
Wiki User
∙ 10y ago
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Wiki User
∙ 10y ago
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What are the reason where the balance sheet will not tally?
Balance sheet is the summary of Assets ,Liabalities , and profit or loss from Profit and loss account. following are the common reasons 1.As Purely based on nduble entry system For each ledger debits there should a equlent ledger credit on all transactions. 2. We can divide ledgers into Balance sheet items and Profil and loss account items. Balance sheet ledgers are ledger balances which directly reflects in Balance sheet Profit and Loss ledgers are ledgers which is reflecting only in Profit and loss account not in balance sheet. 3. Check the opening balance sheet, difference in opening balance sheet may the reason.
Wanted to know the definitions on Tally?
Tally is an accounting software which allow the user to maintain ledger daybook and also generate the business transaction into profit and loss and balance sheet automatically.
In tally 7.2 how to get balance sheet?
pressing Ctrl B
How do you create balance sheet in tally?
yes i want balancesheet
Why it is impossible for a balance sheet to be out of balance and to be incorrect?
the balance sheet must tally at the end. Other wise it is shown what ever the information give might be wrong or. Calculation is wrong.
Can you make a journal entry To Do in tally?
yes,without the knowledge of journal entries one cannot pass journal entry in tally tally focuses on accounting principles(real a/c,personal a/c,nominal a/c) from the beginning of journal entries to the final stage,i.e.,preparation of profit and loss account and balance sheet in an easy manner so that even a lay man can grasp the subject easily.
What to check in balance sheet of tally 9?
12345 is an actual zip code! look it up!
What is relationship between tally and accounting?
Accounting is making a statement of company's profit and loss,and tally is making a perfect balance between assets and liability
Transfer of net profit to capital account in tally 9?
profit or loss alc dr to capital alc.... enter in journal
How do you finalize the balance sheet in tally?
WE have to enter the all business transactions in journal proper, & we have to post these translation to the ledger & prepare trial balance with the help of debit credit totals without adjustment. after that we have to make some adjustments in expenses & income account it should be 0 balance.
How do you transfer balance sheet in tally 7.2 for next financial year?
you don't need to transfer it manually. It happens automatically.
Why does the trial balance always tally?
why does trial balance always tally
