FAQ-11. :

In the Balance Sheet/Trial Balance, the amount under the title 'Diff. in Opening Balances' is being displayed even though the difference amount has been settled through voucher entries during the financial year. Please Suggest.

Note that while providing the opening balance to ledgers, the contrary balances equivalent to the amount will appear under the title Difference in Opening Balances in Balance Sheet / Trial Balance to tally the totals of Assets and Liabilities / Debit and Credit balances.

 

The entry passed for the difference amount will only affect the closing balance of the respective ledgers and reports, but the Balance Sheet/Trial Balance will still display the (opening balance) difference amount to tally both the sides.

 

To nullify the difference in opening balance, you need to adjust it with other/new ledgers’ opening balances.

 

Example:

If there is an amount of Rs.5000/- Debit in Diff. in Opening Balance, you need to adjust this with Rs.5000/- Credit in the opening balance of other ledger(s).

 
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