IN ONE OF THE MAUNUFACTURING COMPANY, THE MANAGMENT WAS
VERY MUCH INTERESTED TO INTRODUCE ERP(IT IS FOREIGN
SOFTWARE)BASED ON SOME ATTRACTIVE FEATURES EXPLAINED BY THE
ERP SOFT WARE COMPANY/AGENCY . THE ACCOUNTING STAFF ARE ALL
CONVERCENT WITH TALLY ACCOUNTING PACKAGE(INDIAN ACCOUNTING
METHOD). THEREFORE THEY WOULD LIKE TO KNOW THAT (I) WHAT
ARE THE DIFFERENCE BETWEEN A TRIAL BALANCE FROM NORMAL
TALLY ACCOUNTING AND ERP GENREATED TRIAL BALANCE (2) SINCE
THE BOTH THE TRIAL BALANCE WILL BE HAVING DIFFEERENT DATAS
HOW SOME ONE CAN MAKE A FINAL ACCOUNT SUCH AS TRADING A/C
PROFIT & LOSS ACCOUNT AND BALANCE SHEET AS PER INDIAN
COMPANIES ACT. THE TRIAL BALANCE AS PER ERP SHOW SOME COST
OF PRODCUTION A/C, LABOUR/MATERIAL/VALUE VARIANCE A/C. SAY
ALL THESE VARIANCE ARE CORRECT AND BASED ON THE ACTUAL
TRANSACTION TAKEN PLACE, HOW SOMEONE CAN A FINAL ACCOUNT
MEANT FOR INDIAN ACCOUNTING POLICY WHICH TO BE SUBMITTED TO
VARIOUS GOVT BODIES? I AM TOTALLY CONFUSED
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Answer Posted / devadaswarrier
ENLIGHTEN ME BY TELLING HOW TO MAKE FINAL ACCOUNT BASED ON
INDIAN ACCOUNTING POLICY FROM AN ERP GENERATED TRIAL
BALANCE WHICH SHOWS COST OF PRODUCTION, VERIOUS VARIANCE
ACCOUNT, WHEREAS IT IS NOT AT THERE IN A TALLY GENERATED
NORMAL TRIAL BALANCE
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