Query
In a new Company, on creating masters Difference in Opening Balance is displayed in Final Accounts? How to analyze and correct the difference?
Answer
To identify the reason for Difference in opening balance and correct the difference in a new company, follow the steps shown below:
1. Open Tally.ERP 9 and load both the old company and new company.
2. Select Old Company and open Trial Balance from Gateway of Tally > Display > Trial Balance.
3. Press Alt+C or click C: New Column, select the new company from the list of the companies.
You can now see the Trial Balance of Old Company and New Company on same screen besides each other.
4. Select the Old company column and change period to last date of the previous financial year (in case this is not the date of closing of books, then set the date to actual date of closing of books).
5. Select the New company column and change the period to first date of the current financial year or the books beginnig date.
6. Check whether the opening balance in the New company is same as the closing balance in Old company for all groups and ledgers.
By comparing the closing balance of old company with opening balance in the new company, you will be able to identify the reason for difference in opening balance and correct it. In case all the Dr/Cr balance for all groups match for both companies Tally.ERP 9 will not display the Difference in Opening Balance. |
