30 March 2022
Hi, I have a doubt in my tally prime balance sheet, my tally prime was not showing fixed assets, how can i rectify this problem help me sir. this is start up company and am also new candidate no practical experience.
06 July 2024
If Tally Prime is not showing fixed assets in your balance sheet, there could be several reasons for this issue. Here are some steps you can take to rectify the problem:
1. **Check Ledger Creation:** - Ensure that you have correctly created ledger accounts for your fixed assets. In Tally Prime, each fixed asset should have a corresponding ledger account under the Fixed Assets group.
2. **Enter Fixed Assets Transactions:** - Make sure that you have entered all transactions related to fixed assets correctly. This includes purchases, sales (if any), depreciation entries, and adjustments.
3. **Enable Display of Fixed Assets:** - In Tally Prime, you can customize the display of accounts in the balance sheet. Ensure that the option to display fixed assets is enabled in your balance sheet configuration settings. - Go to `Gateway of Tally` -> `Balance Sheet` -> `F12 Configure` (or press `F12` key) -> Check if `Show Fixed Assets` is set to Yes.
4. **Check Date Range:** - Sometimes, the balance sheet may not show fixed assets if the date range selected does not include transactions related to fixed assets. Ensure that you are viewing the balance sheet for the correct financial year or period.
5. **Verify Grouping and Classification:** - Review the classification and grouping of accounts in Tally Prime. Fixed assets should be classified under the Fixed Assets group. Verify that the ledger accounts for fixed assets are correctly grouped.
**Run Audit and Verify Data:** - Use Tally Prime's audit and verification tools to check for any data entry errors or inconsistencies related to fixed assets. - Go to `Gateway of Tally` -> `Audit & Compliance` -> `Audit & Analysis` -> `Verify Data`.
**Consult Tally Prime Support:** - If you are unable to resolve the issue on your own, consider reaching out to Tally Prime support or consulting with a Tally expert who can provide specific guidance tailored to your situation.
By following these steps, you should be able to identify and rectify the problem with fixed assets not appearing in your Tally Prime balance sheet. If the issue persists, seeking professional assistance from a Tally expert would be advisable to ensure accurate financial reporting for your startup company.
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