Verification of Opening Balances in Tally

Verification of Opening Balances in Tally

Verification of Opening Balances report will help the user to check and fix the Opening Balance differences between different Groups/Subgroups/Ledgers when the Current Year and Previous Year company data are available as separate companies on Tally.ERP 9.

By default this report will show Opening Balance differences between different Groups/Subgroups/Ledgers of Non Revenue type. The user can include Revenue type of Groups/Subgroups/ Ledgers for verification by F12: Configuration.

To view the Verification of Opening Balances report

1. Go to Gateway of Tally > Audit & Compliance > Audit & Analysis > Verification of Balances.

If previous year company is not loaded, click on Ctrl+F3: Compare Cmp or press Ctrl+F3 to load the Company that contains the data for the year prior to Audit period

Click on Ctrl +V: Verf of Op. BAL or press Ctrl + V.

Verification of Opening Balances report appears as shown below:

Place the cursor on any of the Groups displayed, and press Enter to view the Verification of Opening Balances report for that Group:

Button options in Verification of Opening Balances report

F1: Detailed

The Auditor can further drill down to Subgroups and Ledgers by pressing Enter on the required Groups from the above screen. The information can also be viewed in detail by clicking on F1: Detailed or pressing Alt+ F1 from the above report.

The detailed report will be displayed as shown:

Ctrl+F3: Compare Cmp

Click on Ctrl+F3: Compare Cmp or press Ctrl+F3 to load the Company that contains the data for the year prior to Audit period.

F4: Group

Click on F4: Group or press F4 to view the Verification of Opening Balances report for a particular Group.

F5: Led-wise

To view the Ledger wise report for Verification of Opening Balances click on F5: Led-wise or press F5.

F9: Verify

Click on F9: Verify or press Alt + F9 to mark any ledger as Verified or on hold.

Ctrl + O: Opp Behaviour

To view the Groups which have balances of the opposite nature, that is, if a Group that should normally have, say, a Debit balance has a Credit balance, click on Ctrl+O: Opp Behaviour or press Ctrl+O.

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