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It means that we have not put balance of Opening Balance Sheet properly in Tally

 

Example

Suppose we are starting accounting of some company from 1 April 2016.

We will take balance sheet as on 31 March 2016 and put as opening balance in Tally as on 1 April 2016

 

Procedure

We have to Create Ledgers in Tally

and

put their opening  balances in tally seeing Balance sheet of previous period

(Liabilities have Cr Balance,Assets have Dr Balance,Tally is smart enough to take it automatically)

 After putting balances,we can check the Balance sheet at homepage

After Balance sheet opens,we can click detailed format 

(Shortcut Click B and Press Alt F1)

 

Error “Difference in Opening Balances” in Balance Sheet

After putting all the balances, we need to check Balance sheet in tally

If it is showing error

“Difference in Opening Balances” in tally

It means

Some account balance not entered at all

or

Some account balance not entered correctly

  1. Accounts Tax
  2. Tally
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About the Author

CA Maninder Singh's photo - Expert in Practical Accounts, Taxation and Efiling
CA Maninder Singh
CA Maninder Singh is a Chartered Accountant for the past 7 years. He provides courses for Practical Accounts, Taxation and Efiling at teachoo.com .
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