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Wrong sale entry done in Tally

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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9 Replies

CA. Sourav Sarkar (Chartered Accountant ) (24578 Points)
Replied 12 April 2021

Change the value of opening debtors in split company

Anirbit Banerjee (27 Points)
Replied 12 April 2021

If I do so then will not there be a difference in opening balance in tally???

CA Altamush Zafar (GST Consultant) (15907 Points)
Replied 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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CA. Sourav Sarkar (Chartered Accountant ) (24578 Points)
Replied 13 April 2021

Yes, agree with zafar

sabyasachi mukherjee (26047 Points)
Replied 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.

1 Like

CA. Sourav Sarkar (Chartered Accountant ) (24578 Points)
Replied 13 April 2021

But majority of cleints change opening balances by passing a reverse journal entry

sabyasachi mukherjee (26047 Points)
Replied 15 April 2021

Mark my words
I hv told you the different modes.

yasaswi gomes (My grammar is 💯 good I) (7290 Points)
Replied 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