Hi,

Kindly send me the journal entry(in the books of contractor) for works contract bill issued by contractor.
details are below:

GROSS AMOUNT-11027433
IT-126888
VAT-507550
KCWWF-126888
RETENTION-900000
TOTAL INVOICE VALUE-12688759


jibinpl95@gmail.com

We created a new account in tally.There is no previous Balance sheet.we have closing balance as on 31.3.2016 of Rs.50000/- i.e.opening of 1.4.2016. Now we have maintain a tally a/c from 1.4.2016. We created a new a/c in Tally thru F3 and inserted co details and in voucher shown as a opening balance of Rs.50000/- from 1.4.2016. Now in Balance sheet it shows a diff. in opng balance of Rs.50000/-. Please suggest what entry shall v make not to show this diff.in opng balance in balance sheet.

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