What is the difference between in Balance sheet and Trail balance in Tally
and how
bgdia_tally (bussiness) (60 Points)
11 July 2008What is the difference between in Balance sheet and Trail balance in Tally
and how
RAMANI NATARAJAN
(Assistant General Manager - Finance)
(56 Points)
Replied 12 July 2008
can you retype the question again
Rahul Seksaria
(C.A (Final) & C.S (Inter))
(54 Points)
Replied 12 July 2008
what is the similairity between tghe two that you found in Tally Output
CA Mohd Gouse
(Chartered Accountant)
(497 Points)
Replied 16 July 2008
| Originally posted by :bgdia_tally | ||
| " |
The difference between in Balance sheet and Trail balance is onaly that in b/s u get net proit(i.e Incomes minus Expenses) whereas in T/B u get all Inomes & expneses details.u can verify in Tally itself. hope that i have an\nswered the question........... |
" |
jatin bhatia
(article clerk)
(20 Points)
Replied 16 July 2008
Mohd . is correct
Only difference is that B/s contains only final figure of income and expenditure in form of NET PROFIT /LOSS and Trial balance contains details of income & expenditures
First you have to understand the procedure of Accounts,
1 Voucher entry 2 Cash Book/day book entry 3. Ledger posting 4. Trial Balance 5. Trading & P/L axxount 6. Balance Sheet.
As you can see the all of above is done with in serial wise. If any of the step missed you are unable to finalize the accounts.
Trial balance is just only a table which showns the closing balance of all ledger account. Total of both side should be tallyed, and there after the books are ready for finalization. You can prepare Trading, P/L A/c and balance sheet from it.
I think now it is clear to you that Balance Sheet is the final result of the whole accounting and the trial balance is only a statement of ledger balances.
Rajesh
| Originally posted by :bgdia_tally | ||
| " | What is the difference between in Balance sheet and Trail balance in Tally and how |
" |
Umesh V Naig
(Statutory Analyst)
(452 Points)
Replied 14 November 2008
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