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21 Jan 2008

 

Profit and Loss always as Liability in Tally 9


 

Did you know…?


 

If there is loss for a particular period as on the date on which the balance sheet viewed, it is reported on the Asset side of the balance sheet. To report the loss on the liability side, set Profit or Loss, both as Liability in F12: Configure to Yes in the balance sheet screen.


 

The Default Report appears as shown.


 



 


 

F12: Configure screen appears as shown.


 



 


 

The report, after configuring Profit or Loss, both as Liability, appears as shown


 

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