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Concern for proprietorship in tally

A/c entries 2147 views 4 replies

bdj

propreitor

42 Points Joined January 2018

Hello,

I want to segregate Personal Bank Account and Current Account of Sole Propritorship Business in Tally ERP 9. If I enter personal bank account entries in tally it gets refelected in balancesheet of busiess account which I do not want.

So how to segregate both accounts under one roof in tally?

Thanks

Replies (4)

satish

teaching

2046 Points Joined February 2009

No chance.

those are personal transactions. can not possible.

bdj

propreitor

42 Points Joined January 2018

Thanks for your answer...so should I prepare a new account of that person or should I enter only closing balance of savings bank account in the business balance sheet at the end of the year...if I do so there will be difference in amounts at the end of the year and I don't want to increase firm's capital Thanks in advance

satish

teaching

2046 Points Joined February 2009

while preparation of Balance sheet, you need to disclose only your organisation bank balances only.

no need to disclose your personal bank info.

Rama chary Rachakonda

Master in Accounts & high court Advocate

8991 Points Joined December 2011

There are pre-defined Ledger Groups available in Tally.ERP 9 Account Software to create the almost all financial Ledgers likewise for creating Savings or Current Bank Account Ledgers for SBI, ICICI, Axis, Andhra Banks also we have a Ledger Group named Bank Accounts.