Eswar Reddy S (CFO- at NHTF) (58270 Points)
22 February 2023
Elisa
(na)
(920 Points)
Replied 22 February 2023
May be mistakes in recording transactions in the Receipts and Payments Account
Eswar Reddy S
(CFO- at NHTF)
(58270 Points)
Replied 22 February 2023
Yasaswi Gomes new
(Finance )
(4514 Points)
Replied 23 February 2023
If it is tally, BRS will tally when we update the bank date. But Receipts like debtors and payments like creditors need not match because Expenses are not equal to incomes.
Eswar Reddy S
(CFO- at NHTF)
(58270 Points)
Replied 23 February 2023
Yasaswi Gomes new
(Finance )
(4514 Points)
Replied 23 February 2023
I'm very sorry forgot your accounting structure is R&P for NGO's. I have gone through it and if your bank reconciles, then all payments and receipts are accounted for precisely. But there is no law that balance sheet debits and credits must tally. Since R&P is real accounts the balance must be carried to next period.
Eswar Reddy S
(CFO- at NHTF)
(58270 Points)
Replied 23 February 2023
Yasaswi Gomes new
(Finance )
(4514 Points)
Replied 23 February 2023
Got it! I browsed and the payments and receipts and it does look hard to get it. From the screenshots it looks hard to find out the discripency
https://help.tallysolutions.com/docs/te9rel66/Reports/Display_Financial_Statements/#gref
Eswar Reddy S
(CFO- at NHTF)
(58270 Points)
Replied 23 February 2023
Yasaswi Gomes new
(Finance )
(4514 Points)
Replied 23 February 2023
I mean I'm not worried about me know unable to understand it, but anyone observe that in the receipts column, there is sundry creditors posted and added to tally R&P. No one can understand it as per the standards.
Yasaswi Gomes new
(Finance )
(4514 Points)
Replied 23 February 2023
Or maybe receipts and payments analysis is a ledger in Tally ERP 9. It was not suggested as well.
Eswar Reddy S
(CFO- at NHTF)
(58270 Points)
Replied 23 February 2023
Yasaswi Gomes new
(Finance )
(4514 Points)
Replied 23 February 2023
Great! When we transform this formula into a ledger, the B/D balance is the resultant.
Eswar Reddy S
(CFO- at NHTF)
(58270 Points)
Replied 23 February 2023
Yasaswi Gomes new
(Finance )
(4514 Points)
Replied 23 February 2023
It is a big programming error to presume! Nothing can beat a clean ledger and ends all troubles in interpreting data. 5% know all of it and it is to eat up wages professional accountants. The drill down mechanism must work properly, if not, there is a big issue. I studied about mis in Oracle and it helps the strategic top management. But in this case, if the MIS pyramid doesn't work for you especially, there is something wrong with the world today!
CAclubindia
