Rajalakshmi (Independant Finance Professional) (62 Points)
22 November 2009Hello Everybody
I need to maintain branch accounts for my company. The HQ has 3 branches, each handling sales on their own. The expenses are borne by HQ.
How should I do the following, in tally?
1. Book sales, expenses etc , brach wise?
2. Be able to pull out branch wise P&L, Balance sheet?
3. Show consolidated revenues/ expenses in the HQ Books?
I use Tally ERP.
Appreciate a quick response.
Thank you
pravanjan mishra
(Accountant)
(53 Points)
Replied 24 November 2009
rajendra kumar
(accounts)
(35 Points)
Replied 30 November 2009
1.Create one company for each branch and a company for head office (the company for head office must be a group company and all branch companies must be its member companies).
2. Book sales, expenses in each branch company (Since each branch is a separate company, you will get branch wise profit or loss account & balance sheet).
3. To see consolidated revenues/expenses in Head Office, you will have to select head office company only.
Rajalakshmi
(Independant Finance Professional)
(62 Points)
Replied 09 December 2009
Thank you both for responding.
@ Rajendra : I maintain the same bank account for all branches. Hence, if i create each branch as separate company, how can i do the bank recon?
Appreciate your response.
@ Pravajan : will email the query separately.
rajendra kumar
(accounts)
(35 Points)
Replied 10 December 2009
Hi,
Since you are maintaining branch and head office seperately, you can create same bank account for each branch and head office, and also reconcile the same in each branch and head office seperately. Here you must remember that group company is only for viewing for consolidated reports only, you can't enter transaction in group company, so you must create group company having branch and head office company its members. The Bank balance of each branch and head office will be clubbed up in group company. If you will feel any difficulty I will explain you all that by giving an example.
Kaival Mehta
(CA student)
(120 Points)
Replied 08 May 2011
But how to creat the Main HO account as the Maine Company, and how to club the final accounts in the same.
Do i create the HO company as normal company creation or need to activate some advance features?
25 Hours GST Scrutiny of Return and Notice Handling(With Recording)
Survey, Search and Seizure under Income Tax Act 1961
CAclubindia
