We have done e filing for 2021-22AY under 44ADA but now turnover crosses 50Lakhs for current FY. So Tax Audit is applicable for current year and books of accounts have to be maintained for this year.
Opening balances have to be adjusted since bank balance and capital ledgers results in difference in opening balances .
Can we adjust it ?
Do we need to prepare Balance Sheet now for earlier year also ?
Menu
Tally Erp 9 opening balances adjustment
Replies (1)
You should prepare a formal Statement of Affairs as of March 31st to establish your opening capital and asset positions. Once you have these verified figures, use the Verification of Balances feature in Tally or pass Journal Vouchers on the first day of the financial year to align your ledger balances.
Recent Topics :
- LTCG 112A and business loss
- FAST-DS 2026 applicability: foreign employee share
- NRI Property Sale in India: TDS Rates and Key Comp
- Clarification on September 2026 PF Calculation for
- DRC-03 interest paid under CGST/SGST instead of IG
- GSTR1 amendment Bulk bills
- Capital Gain on Sale of Gold
- GST SALES RETURN MISSING 2025-26 FY
- Enquiry on FAST-DS system generated email
- Capital gain on sale of agriculture land
Related Topics :
CAclubindia
