How to transfer profits in p & l account to general reserves

I want to transfer current years profits in profilt & loss account to general reserves a/c in Tally 9.0

How do I do that?

I want to pass accounting entries at the end of the year for items in my profir & Loss account in Tally 9.0.

Transferring all expenses or losses:

Profit and loss account
     To Each of the various expenses or losses

(This entry will close the expenses accounts)

If I pass entry this way.. all the expenses will show 0 balance ason 31st March. Is there some other way out?

Replies (3)

why u need to transfer expenses and income accounts to P&L.

they are automatically reflected in P&L A/c  and their balance will also appear properly.

And you can pass the entry for transfering the Profits to General Reserves.

Profit &  Loss A/c Dr.

          To General Reserve

Thanks Ashish

Dear Sir,

i want to maintain persoal account so kindly guide me how i do from basic to end in tally 9.

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