Dear all,
One of client who is running school has sent me there accounts in Tally however the reciepts and payments accounts is not matching, is it possible. If yes, than what can be probable reasons for the same??
13 Replies
Ruchika Somani
(Coaching and Practice in Tax Audit Law.)
(4429 Points)
Replied 14 September 2018
Your query is not clear. Kindly brief about the same.
You can reach me at : ruchasom @ gmail.com
CA Shruti kuchhal
(CA )
(427 Points)
Replied 14 September 2018
Thanx for the reply.
My client is a Society which is running a school in Ghaziabad. They maintain there accounts in Tally. This year when i start auditing there accounts, i noticed that that the reciepts and payments accounts which is generated automatically in Tally is not tallying, there is differnce in total of Reciepts and payments which generally used to tally.
Here my querry is can it be possible that there is totalling difference in recipts and Payments accounts in tally? if yes, then what can be probable reasons for the same.
Ashwin Kumar
(1234 Points)
Replied 14 September 2018
your question is not clear..reciepts side and payment sidees are not matching means possibilities are
1. some figures are incorrect
2.some transactions are missing
(Guest)
The Receipts and Payments Account in Tally.ERP 9 displays the information based on the default primary groups. It is updated instantly with every cash/bank transaction/voucher that is entered and saved. No special processing is required to produce a Receipts and Payments Account in Tally.ERP 9.
CA Shruti kuchhal
(CA )
(427 Points)
Replied 14 September 2018
Thats is what my is query what can be the reasons for its not tallying
Divakar
(Student CA Final )
(11857 Points)
Replied 14 September 2018
Mam there is balance... It should be that payment is less than receipt
Piyush Shirodkar
(CA Final Student)
(1358 Points)
Replied 14 September 2018
Check for the opening balance @ CA Shruti
Divakar
(Student CA Final )
(11857 Points)
Replied 14 September 2018
Receipts and payment accounts me v opening balance hote h kya?????
Piyush Shirodkar
(CA Final Student)
(1358 Points)
Replied 14 September 2018
Yes opening cash and bank balance I mean to say
(Guest)
| Originally posted by : CA Shruti kuchhal | ||
 |
Thanx for the reply. My client is a Society which is running a school in Ghaziabad. They maintain there accounts in Tally. This year when i start auditing there accounts, i noticed that that the reciepts and payments accounts which is generated automatically in Tally is not tallying, there is differnce in total of Reciepts and payments which generally used to tally. Here my querry is can it be possible that there is totalling difference in recipts and Payments accounts in tally? if yes, then what can be probable reasons for the same. |
 |
Hello.
Receipts and payments account generated in tally is not reliable. Because in case you have compound entry like,
Expense Dr. 1,000
To Bank 900
To TDS payable 100
Then, this is reflected as 1,000 in payments side and 100 in receipts side whereas only 900 should be shown in payments side.
So, you cannot confirm the auto generated receipts and payments account. You'll need to make manually.
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