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In Tally, Sales purchase A/C groups are reflected in _ ? A. Profit & loss A/C B. Balance sheet C. Journal Register D. None if the above

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Question added by manseer muhammed ali , Accountant General , Royal Lighting L.L.C & Royal Furnishing LLC
Date Posted: 2016/02/03

purchase and sales are mainly related to the profit &lose account.when sales is increased so automatically our gross profit become increasing,and vice versa.  

Harshad Kabeer
by Harshad Kabeer , Accountant , Development Step Est.

Sales and purchases can be viewed in P&L Account but if have any returns against sales & purchases, it can be veiwed in Journal register

saifu vp
by saifu vp , Administration Officer , GS Engineering and Construction

A. Profit & Loss A/c and B. Balance sheet.

Muhammad Aamir farooq
by Muhammad Aamir farooq , Owner , Al Farooq General Store

We can view sales and purchase in Profit and Loss.

Nijin Thomas
by Nijin Thomas , Purchase Assistant , Al Midad

sales purchase account can view in profit & loss a/c 

Muhammed Jasir
by Muhammed Jasir , Accounts Assistant , STEPPING STONE ACCOUNTING CONSULTANCY

A. Trading and Profit and loss a/c is correct answer

MAHMOOD PUTHIYA VALAPPIL
by MAHMOOD PUTHIYA VALAPPIL , LIGHTING CONTROL SYSTEM PROGRAMMER , TECTRONICS

We can get profit and loss of each items'

Subaida ibno
by Subaida ibno , Accountant , ATAD International General Trading LLC

A. Profit & Loss A/c and B. Balance sheet.

Entry.

Account Recievable or Cash xxxx

  Sales                                     xxxxx

 

Purchases   xxxx

   Accounts Payable or Cash  xxxx

 

 

 

Jinu T Majeed
by Jinu T Majeed , Senior cargo executive , Akbar expess cargo pvt ltd

 The coreect answer is A.Profit & loss A/c

 CORRECT ANSWER IS A. PROFIT AND LOSS

Rajeev Edathanal Thankappan
by Rajeev Edathanal Thankappan , Group Accounts / Finance Manager , FBA Group W.L.L.

In Tally Sales & Purchase Groups are reflected in Trading & Profit and Loss account. You can use key board letter 'P' from Gate of Tally Menu to diplay Trading & Profit & Loss Account.

Alternative ways you can go;

From Gateway of Tally - Display - Account Books - Group Summary - Sales Account / Purchase Account.

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