How to close stock amount in a company's data in tally7.2

[isha.bemyfriend]

Actually i am wanting to put my closing stock amount in a company's data in tally7.2. We do not maintain inventory information in tally but yaah before we could easily do this by creating a ledger stock account under head stock-in-hand but now when i do that each and every account is getting created like casual party account but not like any capital or stock account, which ask details of opening and closing balance.

is this because of any features or anything?

Plzz lemme know.

thanks in advance

regards,
Isha

[KirtiPatel]

Before adding an amount to closing stock, you have to pass an entry of opening stock, so that both the entries can be shown in your P&L account. For that create ledge first, and under stock in hand create opening stock first. Add the same amount you want to add for closing stock..... That will go to 1st April = xxxx amount. Then again create a new ledger which will be your closing stock and add the same amount. That will got to 31st March = xxxx amount. Keep the same amount for both. Then go and check in P&L and see that the amount is properly displayed. It is not possible to pass only single entry of closing stock... because of Double entry system in accounting.

The same amount of closing stock will then be carried forward to the coming accounting year.