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I have enabled Income and Expenditure Feature in F11, but Balance Sheet continues to show Profit and Loss A/C instead of Income and Expenditure. How can I change the name in Balance Sheet also? @ Tally.ERP9

Query

I have enabled Income and Expenditure feature in F11, but Balance Sheet continues to show Profit and Loss A/C instead of Income and Expenditure. How can I change the name in Balance Sheet also?

Answer

Even though you have enabled the option to display Income/Expense Statement instead of P & L in F11: Accounting Features still Balance Sheet shows Profit & Loss A/c as per the actual ledger name.

You need to rename the Profit & Loss A/c ledger to Income and Expenditure to reflect the same in Balance Sheet.

Balance Sheet without renaming the Profit & Loss A/c Ledger is displayed as shown:

rename the Profit & Loss A/c ledger to Income and Expenditure to reflect the same in Balance Sheet

To rename the P&L ledger,

  • Go to Gateway of Tally > Accounts Info. > Ledgers > Alter > Profit & Loss A/c
  • Specify Income and Expenditure in the name field as shown
rename the Profit & Loss A/c ledger to Income and Expenditure to reflect the same in Balance Sheet
  • Press Enter to save the Ledger

The Balance Sheet with the renamed P&L ledger appears as shown:

rename the Profit & Loss A/c ledger to Income and Expenditure to reflect the same in Balance Sheet
 
 
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