Closing stock can come either in the trial balance or
outside the trail balance it depends upon the calculation of
purchase or cost of goods sold.
In first case when closing stock is the part of trial
balance then it will not be a part of trading account then
it will shown on the asset side of balance sheet
In second case when closing stock is not a part of trial
balance means it comes as adjustment with trial balance then
it comes on the credit side of trial balance and it is also
shown on the asset side of balance sheet
closing stock come under credit side of trading a/c , but it's not comes in trail balance, information given only in adjustment. usually adjustments given below the trail balance.
As such no body will maintain a closing stock / stock
account in ledger. Trial balance shows the ending balances
of the ledger only, hence there is no question of taking
closing stock in TB. It appears in adjustments and to be
shown on the credit side of Trading acct and in Balance
sheet under Assets.
Please help in payroll accounting in tally 9.0, by all
means and all things in it (Ex:creation of pay heads,
employyes groups, etc and other things which are necessary
for payroll accounting).