Account adjustment

I think your output vat is standing in liabilities or input at assets side.

follow these step 

1. Open a ledger "VAT 15-16"

2 Pass journal entries ( 1 apr. 2016 )

(A). VAT 15-16 dr.     

        To Input vat 

input vat of previous year trf.

(B). Output Vat Dr.

         To VAT 15-16

output vat of previous year trf.

now the "vat 15-16" ledger reflect net effect of VAT balance. 

I think your output vat is standing in liabilities or input at assets side.

follow these step 

1. Open a ledger "VAT 15-16"

2 Pass journal entries ( 1 apr. 2016 )

(A). VAT 15-16 dr.     

        To Input vat 

input vat of previous year trf.

(B). Output Vat Dr.

         To VAT 15-16

output vat of previous year trf.

now the "vat 15-16" ledger reflect net effect of VAT balance. 

I think your output vat is standing in liabilities or input at assets side.

follow these step 

1. Open a ledger "VAT 15-16"

2 Pass journal entries ( 1 apr. 2016 )

(A). VAT 15-16 dr.     

        To Input vat 

input vat of previous year trf.

(B). Output Vat Dr.

         To VAT 15-16

output vat of previous year trf.

now the "vat 15-16" ledger reflect net effect of VAT balance. 

Thanks for the reply Praveen.

I would like to know VAT_15_16 will come under which head in tally? Indirect Income, Indirect Expense ??

I'll explain again with example.

In yr 15-16 i purchased something and paid vat of 15000/- . In the same year i sold something and i got vat of 1000/-

When the returned was filed i did not mention that i have to carry fwd (15000-1000=14000) nxt year. Somehow I made a mistake. My 14000 is with the government. As return for 15-16 has already been filed, i cannot change the balance sheet.

I'll some how have to show 14000 in this years balance sheet.

Regards