There are some clients for whom I maintain shares accounting by passing entries in Tally and show capital gain, loss entries too.
The process which I follow is first we pass each and every Purchase and Sale bill entry in a separate software which helps me to give capital gain or loss report along with number of shares held by the client.
Next, we match the debit and credit values of software report with the ledger account given by the broker and finally the number of shares as per software report with the demat account provided by the broker.
Once all of the above matches, we pass the closing balances and gain, loss entries of the shares (as generated by software report) in Tally.
The above process is too long and it takes lot of time. Is there any other way I can do accounting of shares.
Please help me in this matter. I have to maintain their books of accounts along with Share investments they do.
CAclubindia
