Monthwise P/L and Balance Sheet Reports

Dear Sir,

We get the Bills for the expenses in the next month.

Suppose January electricity Bills we get in February and we pass it in February.

But when we see the February P/l it includes the January Electricity Bills which is not relevant to February.

I want to Create a Field in all the Voucher Screen to put the month of expenses in entry and when we want to see the report we will just filter with the month.

I want to create a TDL for getting month wise Profit & Loss and balance Sheet.
Need your kind suggestions for it.

Thank You

Bikash Shaw

 

Instead of that, please use provision a/c.

 

TDL is not the solution.

In 99% of companies in the world as well as in india The standard practise is that we will pass provision entries for the puirpose.

I will give two Example.

On last day of month:-
Rent Rent A/c Dr
To Rent Payable A/c

Telephone Charges Telephone Charges A/c Dr
To Telephone Charges Payable A/c


On the day When we make payment:-
Rent Payable A/c Dr
To Bank A/c

Telephone Charges Payable A/c
To Cash A/c


If there is any excess provision is made , that excess amount is to be reversed at the time of making payment

 

Dear sir,
his query is actually correct, because see if i have big turnover and multi branches and multi activities then the list of a/c heads is more than 25. in this case each month the entry is to be pass.
actually in new p and l report if the automaticly shows amounts on basis of given new date field as effective date, then only for MIS purpose accountant have the correct PL. and much time will save.
if we add one new date field in voucher and default set the voucher date to same field, then only for those entries user can change as 31-01-2013 as eff date .
if some one help for how to collect these vouchers by formula where the vch date is <eff date then amount of eff date voucher else amount of vch date voucher.
then can it is possible

also tell what is use of effective date in tally and reverse journal in tally?

regards
mithari

 

please see the attachment.

If you are using reverse journal for the purpose why we cannot follow Accounting Standards




Reference: Tally Website

 

Thanks for reply,
we all have to follow AS but in small firms, prop. firms owners, and partners not understand a/c problems just want correct PL or BS in a short time , thus i am trying to do for this.

 

If you do in that way how you will manage closing balance of balance sheet items.

For eg.

Your cash balance on 31 dec 2013 is Rs:100/-
you made the payment of electricity on 5th jan 2014( Amount Rs:500)

Instead of passing due entry you are taking the payment entry in 31 dec 2013 instead of 05 jan 2014.Then Cash balance will become -400
how you deal with that. then you have to show the income also in previous month. In that case your VAT payable will change.


This will not give any correct information. Your stock value may not be accurate.
Practically this will give a lot wrong information.