Wrong sale entry done in Tally

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27 Points Posted on 12 April 2021
A sale entry is wrongly done in tally in 2020-21. Tally has been split and a new company for 2021-22 has been formed in tally. If I reverse the sale in 2020-21, then what changes should I make in the opening balance of the newly formed company for 2021-22?
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On 12 April 2021 at 22:01 Report
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Quick Summary
If you've made an incorrect sale entry in Tally for a previous financial year (2020-21) and have already split your data for the new year (2021-22), correcting it requires careful adjustment. Simply reversing the sale in the old year necessitates updating the opening balances of your new company, specifically affecting debtors and capital/reserves. It's crucial to ensure all previous year audits are complete before splitting data, or consider re-splitting if errors are found. A credit note in the new financial year is often the recommended approach to rectify such errors.

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Chartered Accountant
24588 Points Posted on 12 April 2021
Change the value of opening debtors in split company
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On 12 April 2021 at 22:29
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27 Points Posted on 12 April 2021
If I do so then will not there be a difference in opening balance in tally???
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On 12 April 2021 at 23:31
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GST Consultant
15986 Points Posted on 13 April 2021
If you change the sale then you will have to adjust the debtors or bank/cash as the case maybe on the asset side and you will also have to change capital or reserve as the case maybe on the liability side.
Then there won't be any difference
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On 13 April 2021 at 02:53
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Chartered Accountant
24588 Points Posted on 13 April 2021
Yes, agree with zafar
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On 13 April 2021 at 06:02
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Profession
28267 Points Posted on 13 April 2021
Pass a credit note to the effect .
Sourav

you cannot alter the opening balances like that.
Generally it is passed by passing journal entry.
mind it no changes can be made unless credit note is passed.
manually also you hv to make the same alterations.
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On 13 April 2021 at 09:17
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Chartered Accountant
24588 Points Posted on 13 April 2021
But majority of cleints change opening balances by passing a reverse journal entry
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On 13 April 2021 at 10:09
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Profession
28267 Points Posted on 15 April 2021
Mark my words
I hv told you the different modes.
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On 15 April 2021 at 06:27
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My grammar is 💯 good I
7306 Points Posted on 15 April 2021

Ensure the analysis or audits of the books of the previous financial year are complete before splitting the data. Or else delete off the new company and split data again. 

https://help.tallysolutions.com/article/Tally.ERP9/Data_Management/DM_Moving_to_Next_Financial_Year.htm

Reverse previous year changes

split data

update reversed sale to desired date.

This will work on the first day of transition

 

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On 15 April 2021 at 09:59
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Account Executive
85 Points Posted on 27 January 2022
Please pass the credit note entry in 21 _22 . and put the narration why credit entry pass.
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On 27 January 2022 at 23:09

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