Employee closing balance are not carried forward on splitting the company data
Tally.ERP 9 allows the user to split the data based on financial years which will reduce the volume of the data, thereby reducing the load on the computer. When the user splits the payroll data based on different financial years, the Employee Closing Balances – Loans and Advances are given and Salary Payable to employees for the previous period were properly carried forward as Opening Balance to Financial Reports (Balance Sheet/Profit & Loss A/c), whereas the details were not displayed in Pay Head Employee Breakup report in Split Company (Second Child Company)
ALTERNATE SOLUTION/WORKAROUND
Currently, to allocate the pending Loan amount as the Opening Balance to the respective Employee follow the steps given below:
- Create a Ledger under Loans & Advances (Assets) option from Accounts Info.
- Transfer the Opening Balance from Default Salary Advance Pay Head to the Ledger created above
- Pass a Journal to transfer the loan amount back to the Salary Advance Pay head and select the required Employee to allocate the Loan Amount Opening Balance
- Check the Employee Breakup of Pay Head report for balance Loan Amount
Similarly to account for the opening Balance of Salary Payable, create the Ledger under Current liabilities and follow the above-stated procedure. For detailed procedure on allocating pending Loan as Opening Balance to the Respective Employee, refer to the topic – How to Carry forward the loan pending for Recovery to next Financial Year while splitting the Company Data
RESOLUTION TIMELINES
Resolution for the above-stated problem will be provided in Tally.ERP 9 Series B JAS (July, August, September) Release.