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Tally Prime with GST · Module 9 of 10

Financial reports in Tally Prime

Read the reports owners and auditors ask for.

📖 Key ideas

  1. Balance Sheet: assets, liabilities and capital on a date.
  2. Profit & Loss: income minus expenses for a period.
  3. Trial Balance: all ledger balances; debits equal credits.
  4. Cash/Bank Book and Ledger reports show account movements.
  5. Outstanding reports show what customers owe and what you owe suppliers.
💡 Real-life example: Reports are the health check-up of a business: the P&L shows fitness this year, the Balance Sheet shows overall health today.
Balance SheetFinancial position on a date
Profit & LossResult for a period
Trial BalanceList of ledger balances
OutstandingsPending receivables and payables