Generating Accounting Reports in Tally

Once transactions have been entered as vouchers, Tally automatically generates the full range of accounting reports directly from that same underlying data — no separate preparation step is needed for each report, unlike in a manual system.

Commonly generated reports include:

• Trial Balance — a list of all ledger balances, generated instantly at any point in time, not only at a period's end.
• Profit and Loss Account — automatically compiled from all the revenue and expense ledgers affected by vouchers entered so far.
• Balance Sheet — automatically compiled from all the asset, liability, and capital ledgers.
• Ledger Accounts — the individual account statement for any ledger (e.g. a particular debtor, or the Cash ledger), showing every transaction posted to it.
• Cash Book / Bank Book — a chronological record of all cash or bank transactions.
• Day Book — a chronological listing of every voucher entered on a given day (or range of days), across all voucher types.
• Stock Summary — (where inventory is maintained) a report of quantities and values of goods on hand.
• Statutory reports — such as GST returns, compiled automatically from the tax details recorded against relevant vouchers and ledgers. …