Tally in Auditor Office

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This query is : Resolved

Arvind S (Querist)

11 September 2008 My uncle is actually Auditor, He asked me that whether the tally is useful for preparing the profit and loss balance sheet. To his firm the accounts information will be directly entered in the book by the company itself and will be given. The employee in his office work was to prepare the statement and submit to my uncle. In this work stream whether tally is useful for preparing the statement alone or not?

CA. Dashrath Maheshwari

CA. Dashrath Maheshwari (Expert)

11 September 2008 Yes Definitely,
You (Your uncle) should not rely blindly on that person, you should check whether the data entered correctly, whether they have grouped in a proper manner, whether there is any manipulation ? etc...
For this you should have the software to check at your end. Even you can make any year end adjustment entry at your office in front of client if he/she is not able to understand that entry ...

**DM

Arvind S

Arvind S (Querist)

11 September 2008 i am having tally, can u help me step by step of how preparing the statement directly without putting the day to day accounting in the tally

CA. Dashrath Maheshwari

CA. Dashrath Maheshwari (Expert)

11 September 2008 1. Make a complete trial balance (Including revenue items) manually.
2. Create "Stock" Ledger under group "Stock in hand" which is already there in tally, and put opening inventory amount.
3. create other ledgers in tally as in your manual trial balance and put opening balances (Closing balances in your trial)
4. goto ledger alteration > Stock and give closing inventory amount.

Print Balance Sheet and Profit and loss account...

(Tip > Even you can make any adjustment entry before printing final accounts)

**DM

Message likes : 1 times

Arvind S

Arvind S (Querist)

11 September 2008 very thanks sir, if i have further doubt means will sir.. very thanks sir

Arvind S

Arvind S (Querist)

11 September 2008 after getting the statement how we to able to get the following sir?

Intersest on captial
Details for interest receipt
Details for management renumeration
depresatation statement
tds account
captial acc
partners captial acc
partner current acc

In his company they use the excel , in that they will have predefined to get that.. pls tell us how to get this in tally ..

Arvind S

Arvind S (Querist)

11 September 2008 is there any was for getting that Dashrath_Maheshwari

KAAPIL

KAAPIL (Expert)

14 September 2008 PLEASE CONTACT HIM ON PRIVATE MESSAGE. HE WILL HELP YOU.

CA. Dashrath Maheshwari

CA. Dashrath Maheshwari (Expert)

15 September 2008 Thanks a lot kapil sir,
Actually I was busy in my first week assignments, sorry to bother you...

He has given a PM and I have answered at his satisfaction...

Thanks again,

*DM

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