Mutual Fund Entry [closed this financial year]

Hi,

I have a simple tally question about Mutual Fund which has closed this financial year. I received 20,770.14 Rs in my icici bank account and capital gain statement shows 20770.13 Rs capital gain [long term with indexation]. Opening balance is 5512.52 Rs.

As this Mutual fund has closed and my balance is not matching so I am stuck. I added drawings [Dr] journal entry of 5512.51 Rs. for matching balance because last F.Y. Entry shows 6821.08 Rs drawing [Cr] journal entry.. Is this correct? Is it OK to show drawings [Dr] entry for matching balance. If not , what should be the entry for this year? how should I show it for closing a mutual fund this F.Y.?

I have attached last financial year entries of Tally accounting books for reference. Last F.Y. Entry shows 6821.08 Rs drawing [Cr] journal entry.

Current F.Y. ENTRY - My Entry

https://drive.google.com/file/d/1DuuEZvMMQlY3zxnM5KwEaXMKVi8BhmKB/view?usp=sharing

LAST F.Y. TALLY ENTRY

https://drive.google.com/file/d/1KP903Wb6YL58hdRqVPnXjgoefJjMQome/view?usp=sharing

Please reply. You can also attach a screenshot of your screen calculation [whether in Tally or Excel] if you can’t reply in text.

Please help.

Thanks.

It seems like you're wondering how to record the Mutual Fund transaction in Tally. Here's a simple solution: 1. _Create a new ledger_: Make a new ledger under "Investments" or "Assets" called "Mutual Fund - XYZ" (replace XYZ with the actual fund name). 2. _Enter the opening balance_: Enter the opening balance of ₹5512.52 as the initial balance in the ledger. 3. _Record the capital gain_: Pass a journal entry to record the capital gain: - Debit: Mutual Fund - XYZ (�20770.13) - Credit: Capital Gains - Long Term (�20770.13) 4. _Record the receipt_: Pass another journal entry to record the receipt of ₹20770.14 in your ICICI bank account: - Debit: Bank - ICICI (�20770.14) - Credit: Mutual Fund - XYZ (�20770.14) This will ensure that your Mutual Fund investment and capital gains are accurately reflected in your Tally accounts. If you need more assistance or have further questions, feel free to ask!