Illustration:- In the books of M/s XYZ Limited you have been asked to see the Balance Sheet for Financial Year 2011-12. How shall you check the same?
We shall check the Balance Sheet of M/s XYZ Limited as under:-
- Open Tally program.
- Select your Company. In our case, we shall select M/s XYZ Limited.
- Select ‘Display’ under gateway of tally.
- Some time an option is shown under gateway of tally as Final Account. In this case select ‘Final Accounts’.
- Select ‘Balance Sheet’. After you select ‘Balance Sheet’ then the screen shall appear as under:-
- If you see the Balance Sheet in above format, you will find that all the ledger accounts are shown in groups. For example – Fixed Assets, Investments etc. Now’ you want to see the Balance Sheet in more detailed manner then you just select ‘Detailed’ on screen. Now, your screen shall appear as under:-
- Above format is much clearer than previous one.
- You can see the Balance Sheet relating to any period. To see the balance sheet for any period, just Select ‘Period’ and by mentioning your period, you can view the balance sheet for any period.
- Balance sheet is presented in two methods i.e. horizontally or vertically. In above case you have seen the balance sheet in horizontal method. To see in vertical manner you have to following the following procedure:-
- Select ‘F-12’ key or configuration while viewing the balance sheet. Now, the following screen will appear:-
- In ‘Show Vertical Balance Sheet’ Column you have to write ‘yes’ then press ‘Enter ‘key till last. Now, you will find the balance sheet in following format:-
- Regarding period and detailed etc. you can follow the same procedure as explained earlier.
- Now, try to see so many commands yourself. Screen shall tell you the answers of your all questions in respect of trial balance. Do more and more practice.
- Learn Accounting, Free Accounting Tips
- General Accounting Terms
- General Tips Relating to Indian Income Tax Act
- Free Tally Learning
- General Tips Relating to Sales Tax-VAT