Hi friends
i am facing one strange problem from my Tally.
Its like this
ERROR !
Exiting Tally !
External Error. Contact Tally solutions.
Out of Name Space !
OK
Why is it occurring like this:crybaby:
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Hi friends
i am facing one strange problem from my Tally.
Its like this
ERROR !
Exiting Tally !
External Error. Contact Tally solutions.
Out of Name Space !
OK
Why is it occurring like this:crybaby:
Unfortunately, there's almost nothing that you can do about it. You can try restarting the system and then try migrating again, but what this basically means that Tally 9 has a bug that is causing it to irrevocably crash. You should call Tally solutions and tell them about this. Until they fix the bug you'll have to use the 7.2 Tally.
Check out our guides made on Tally: http://forums.techarena.in/guides-tutorials/1019146.htm
http://forums.techarena.in/guides-tutorials/1086406.htm
what is the tag for modified tally voucher to import
It may be that you might have installed Tally 9 on the previous version. Check out whether you have removed the previous version completely from your system. Then try to load Tally 9 on your system. It can also be that you may not have patch the file correctly.
Sign into any company in tally 9 release 2.13 or 2.14. Now at Gate Way of tally press alt +ctrl + B. Now check which version of statutory masters it shows at calculator pane. Version 72 & 73 have no problem about namespace error. So if your version is above 73 then get stat.900 version 72 or 73 and paste/replace it to tally program folder. If you want to face more of a name space problem then replace with stat.900 version 80 and you will be in trouble with N/S error and will not b able to make purchase entry. So I suggest version of STAT.900 - 72 or 73.Quote:
Originally Posted by pondyservice
Hi I have problem regarding..
My 1st question.. What can be the harm in my balance sheet or profit and loss a/c if i am not doing adjustment entries?
2nd question :- i am facing lot of hanging problem when switching from one company to another, pls. can u help me.
3rd question :- what if we are not filling rate value and opening balance of stock, while creating a new inventory ledger?
4th question:- how can i save my data directly in pen drive? and how can i keep my data in two drives?
Please Help me... :crybaby:
1.Lot of adjustment are must on finalization of accounts to meet Income Tax requirement. Making no adjustment entries will render your accounts not fit to be filed to I.T.
2. Tally does not support Sound Sentry. If you have enabled Sound Seat Control Panel, Accessability options then disable it. Your system RAM may be lower/poor and other open programs may be consuming memory. Keep unnecessary programs closed. If you keep tally unattended/minimized then it is bound to be slow for a minute when you resume.
3. If you do not have opn. balance then you may leave rate and value of inventory blank. If you have opn. Balances but do not want effect of the same then in features make Integrate accounts and inventory to NO.
4. In back up type the path for pen drive or take back up in D Drive and copy to pen drive so you have storage at two drives.
Hey Thanks man.. for helping me... basically i dont know how to make adjustment entries.. its so confusing.. like how to make adjustment entry of telephone bill :crybaby: i dnt knw.. so, this is the major prob i m facing.. can u help me with it......?
Like regular transactions, Adjusting entries are recorded as journal entries.
How to Make Adjusting Entries
- Record depreciation expense and amortization expense for the period. Depreciation schedules track the used portion of fixed assets' useful lives, such as property, plant and equipment. Amortization schedules track the used portion of intangible assets' useful lives, such as start-up costs, patents, loan points and copyrights. Make these AJEs by posting a debit to the depreciation or amortization expense accounts and a credit to the accumulated depreciation account or the accumulated amortization account. Write an explanation below each of these transactions in the adjusting journal, such as, "To record depreciation (or amortization) expense for the year ending 12/31/20XX."
- Adjust inventory accounts by crediting the amount used in production during the period to the inventory account and debiting an equal amount to the cost of goods sold account. Write an explanation under the entry in the adjusting journal, such as, "To record inventory used for the year ending 12/31/20XX." There may be many inventory accounts if each item is tracked separately, and this requires an entry to each of the inventory accounts. Just be sure that the total credits to these accounts is equal to the total debits to cost of goods sold.
- Bring loan balances up to date by making AJEs to the short term and long term loans payable and loans receivable accounts. Short term loan balances are the amounts payable or receivable within one year. Long term balances are those amounts payable or receivable over periods longer than one year. These balances are usually adjusted at the end of the year so the amounts due during the subsequent year are segregated from the remainder of the loans. Debit the long term loan amounts for the amounts equal to the next fiscal year's payments, and credit these amounts to short term loan accounts. Write an explanation such as, "To adjust short term/long term loan balances (payable or receivable) for the year ending 12/31/20XX."
- Accrue amounts owed and receivable at the end of a period which will be paid or received during the next period by recording them with adjusting journal entries. For example, if employees have earned wages during one period, but will not be paid until the subsequent period, record payroll liabilities by crediting wages payable and debiting wage expense. Sales made during the current period which customers will pay for during the next period require a debit to accounts receivable and a credit to sales. Expenses incurred during the current period which the company will pay during the next period require a credit to accrued expenses and a debit to an appropriate expense account. Write an explanation such as, "To accrue wages earned at 12/31/20XX, payable on 1/31/20XX."
- Correct errors in posting with AJEs to provide transparency in the accounting for the period. It's possible with some accounting software to simply go back to the original entry and correct the error there, but using AJEs for these corrections acknowledges that an honest error was made, recognized and corrected. Changing original entries after they are made may raise the suspicion that someone is trying to cover up mistakes or even illegal activity.
source - ehow.com
Adjusting entry need every end of month & end of year because The match principle of accounting that means expense have to match revenue means the expenses or revenue has been occur but have not record need to be adjusted.
If it is for a small company, then the entry would be :
Hope so it may help you.:thumbup1:Quote:
Phone expenses.....Dr.
Phone expenses payable.....Cr.
And then in the next month the following entry will be passed
Phone expenses payable.....Dr.
Cash.....Cr.
my balance sheet is showing diffence in opening balance... y like that