Adjustment Entries – 1 in Tally Prime

Adjustment Entries – 1

Adjustment entries in Tally Prime are used to make adjustments or corrections to your financial transactions, to ensure accurate financial statements. These entries are used to correct any mistakes or omissions that may have been made in the original transaction entry.

To create an adjustment entry in Tally Prime, follow these steps:

1. Open Tally Prime and select the company you want to work with.
2. Go to the "Gateway of Tally" and select "Accounting Vouchers" from the list.
3. Select "F7: Journal" to create a journal voucher.
4. In the "Debit" and "Credit" fields, select the ledger accounts that need to be adjusted. Make sure that the total amount on the debit side is equal to the total amount on the credit side.
5. Enter a brief description of the adjustment in the narration field.
6. Press enter to save the voucher.

Adjustment entries are typically used for transactions such as adjusting an expense account for an incorrect amount or adjusting a revenue account for an amount that was recorded incorrectly. These entries are important to ensure the accuracy of your financial statements and to make sure that your accounts are balanced.