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.

sir, we (proprietor) are running a Hotel having Room Rental business only, we received advance amount from guest before they arrive, we want to know whether we should follow cash basis of accounting or mercantile / accrual basis. If we followed cash basis when we should prepare invoice. on receipt of advance amount or on completion of service basis.

Bank Balance as on 01.04.2016 Rs.50000/- Debit I altered ledger and put up op bal Rs.50000 then its show in balance sheet diff in op bal what is entry for diff balance is to be nil.

Please enumerate the treatement of amortization of goodwill

dear sir what is hedge accounting how it is effected to balance sheet?

Hello Friends,

I have query of Forward Contract transaction on Import Purchase Transaction. We have booked forward contract and passed entry in books as per AS 11 but we have doubts on DISCLOSURE of FOREIGN CURRENCY RECEIABLE and AMOUNT PAYABLE TO BANK in Balance sheet.

Hi all A clarification is reqd for donation. What WL b treatment of donation for CSR activity as per c act 2013 for cost plus markup revenue model company. Does it need to b shown as expense in P/L or reduced from R/S as part of approx. Reply is appreciated. Also if extract of act can b knwn.

plz can anyone can solve my queries as per my point. for eg for vat we calculate vat payable = output vat - input vat. I just want to know that for CST also there is same treatment. for eg CST payable = CST on sales - CST on purchases

minimum stock level 4000 units and average stock level 9000 units then calculate reorder quantity ? Please give me solution for this question & how it is calculated

Dear all Experts,

Please tell me the accounting entries for Salary and EPF booking with best example. advance thanks