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Anirbit Banerjee   12 April 2021

Wrong sale entry done in Tally

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?

 8 Replies

Sourav

Sourav (Student)     12 April 2021

Change the value of opening debtors in split company
Anirbit Banerjee

Anirbit Banerjee   12 April 2021

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

CA Altamush Zafar (GST Consultant)     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
1 Like
Sourav

Sourav (Student)     13 April 2021

Yes, agree with zafar
sabyasachi mukherjee

sabyasachi mukherjee   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
Sourav

Sourav (Student)     13 April 2021

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

sabyasachi mukherjee   15 April 2021

Mark my words
I hv told you the different modes.
yasaswi gomes

yasaswi gomes (My grammar is 💯 good I)     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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