03 July 2009
Hello Freinds, Can anybody tell me how the stock is calculated in tally by its default method? can we change the method to FIFO or LIFO as per requirement? I hv tryed for the same but i can change the method from stock inventory but still in profit and loss account value of closing stock is shown by its default method only so i want to change the value of closing stock in profit and loss account to FIFO method, because i am doing accounting of shares so as per demate account FIFO method is followed. Thank in advance Warms Regards
05 July 2009
Open Profit and loss account. press alt+c for new column, specify period and then specify valuation menthod as fifo . you shall get a new column in p & l with fifo valuation. then select the any of the default column amount and press alt+d . you shall get what you want.
CAclubindia
