Closing stock and Opening stick entry

Opening stock is usually forward from the previous year. So the opening stock account balance will be raised when opening stock is carried forward and hence it will credited. But trading account is debited because opening stock is taken out of trading account only while carrying forward to next year.

entries.

Opening stock:-

Trading account debit and opening stock credit in General Journal book

for cloing stock:-

closing stock debit and trading account is credit in General journal book of accounts

I haven't finalised yet but I practised it. Your accounts will freeze by the years after finalisation. That means all things are carried forward and you do your business normally. Correct me if I'm wrong

AS 10:24 A bearer plant is a self constructing asset included into PPE standard

AS 10:23 suggests all costs will be capitalised like an acquired asset not unless these assets will be sold in the future, and thus it becomes As2.

So it is capitalised!

It's by default Opening and Closing Stock will appear in Tally Prime / ERP 9 , if you Create Stock Items in Inventory voucher / stock items/ create . 

To pass the opening stock on 04.01.2022 and closing stock on 31.03.2023 entries in Tally:

1. Go to Inventory Vouchers.
2. Select Stock Journal.
3. Enter the date as 04.01.2022.
4. Debit the Closing Stock account and credit the Opening Stock account.
5. Save the entry.
6. Repeat the process for the closing stock entry on 31.03.2023.

Last year closing stock will Current year Opening Stock. then same will be transferred to Trading account , however  in tally  the procedure  will be as above .  

Even  though if  you  pass  entries  as per  @ Sanjana  Mohanty  as above  , Opening  Stock  is going to appear  on the  Debit  Side  of   Trading  Account  and  Closing  Stock  credit  Side  of   Trading  Account  .  

Ok looks like my second answer cross posted here sorry