Learn TallyLesson 17 of 20
Reports in TallyPrime and how to read them
Vouchers go in; reports come out. Knowing which report answers which question is what turns a data entry operator into an accountant.
Which report answers which question
| Question | Report | Where |
|---|---|---|
| What was entered today? | Day Book | Gateway of Tally > Day Book |
| What does this party owe? What happened in this account? | Ledger Vouchers | Display More Reports > Account Books > Ledger |
| How much cash and bank do we have? | Cash/Bank Books | Display More Reports > Account Books > Cash/Bank Book(s) |
| Do the books balance? What is each account's balance? | Trial Balance | Display More Reports > Trial Balance |
| Did we make a profit? | Profit & Loss A/c | Gateway of Tally |
| What do we own and owe? | Balance Sheet | Gateway of Tally |
| What is in stock? | Stock Summary | Gateway of Tally |
| Who has not paid, and for how long? | Outstandings: Receivables, Payables | Display More Reports > Statements of Accounts > Outstandings |
| How much tax is due? | GSTR-1, GSTR-3B | Display More Reports > GST Reports |
| How healthy is the business? | Ratio Analysis | Gateway of Tally |
The quickest way to any of them is Alt+G (Go To): type a few letters of the report's name and press Enter.
Keys that work in every report
- F2 changes the date; Alt+F2 changes the period.
- Enter drills down: from a group to its ledgers, from a ledger to its months, from a month to its vouchers, from a voucher to its alteration screen. Esc comes back up.
- Alt+F1 or Alt+F5 shows the report in detailed or condensed form.
- Alt+C adds a column, for another period, another company or a different valuation, for comparison.
- Ctrl+B (Basis of Values) and Ctrl+H (Change View) change what is shown and how.
- F12 opens the configuration of the report: what to show and in what format.
- Ctrl+P prints, Ctrl+E exports, Ctrl+M emails the report.
Day Book
The list of all vouchers for a day or period, in order, with type, number and amounts. Use it at the end of each day to check your own work: every bill and slip on your desk should appear once. From here you open a voucher with Enter to alter it, delete with Alt+D, or duplicate with Alt+2.
Ledger
All entries in one account with a running balance. For a party it is the statement of account you send to the customer. For an expense it shows what makes up the total. If a balance looks wrong, this is where you look first.
Trial Balance
All groups, or with Alt+F1 all ledgers, with debit and credit closing balances. In Tally the two totals always agree, because the software will not save an unbalanced voucher. So here the Trial Balance is not a test of arithmetic. It is a test of sense. Read down it and ask of every line: should this ledger have a balance of this size, on this side?
- Cash with a credit balance: impossible in reality. A receipt is missing.
- A customer with a credit balance, or a supplier with a debit balance: an advance, or an entry on the wrong side.
- Suspense with any balance: something is unresolved.
- An expense with a credit balance: a wrong entry.
- Two ledgers that look like the same thing.
Profit and Loss Account
Tally shows it in two parts. The upper part works out gross profit from opening stock, purchases, direct expenses, sales, direct incomes and closing stock. The lower part adds indirect incomes and deducts indirect expenses to reach net profit. Drill into any figure to see its ledgers and vouchers. Alt+C with last year's period gives a comparison. A vertical layout is available from the report's configuration.
Balance Sheet
Liabilities (capital, loans, current liabilities) on one side and assets (fixed assets, investments, current assets) on the other, on the date chosen. The profit for the period appears with the capital side. Check three things: that closing stock is sensible, that "Difference in opening balances" does not appear, and that no asset shows a negative figure.
Outstandings
Receivables lists each unpaid sales bill by party with its due date and days overdue; Payables does the same for suppliers. These depend on bill-wise references having been tagged correctly in sales, purchases, receipts and payments. An ageing view groups the dues into ranges of days.
A month-end checking routine
- Day Book for the month: nothing missing, nothing doubled.
- Bank reconciliation for each bank.
- Cash book: balance agrees with cash actually counted.
- Trial Balance: read every line for sense.
- Receivables and Payables: follow up overdue bills.
- Stock Summary: no negative stock; spot-check a few items physically.
- GST reports: no vouchers listed with errors.
- Take a backup.
The same accounts are explained from the accounting side, with solved examples, on learn.shareyourgroup.com/accountancy.
Questions learners ask
How do I see the Day Book in TallyPrime?
Choose Day Book from Gateway of Tally, or press Alt+G and type "day book". Press Alt+F2 to change the period.
Why does the Trial Balance always tally in Tally?
Because Tally does not save a voucher unless its debits equal its credits. Use the Trial Balance to check whether balances make sense, not whether the totals agree.
How do I compare this year with last year?
In the report, press Alt+C to add a column and choose the other period.
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An independent learning site. Tally and TallyPrime are trademarks of Tally Solutions Private Limited. This site is not connected with, approved by or paid by Tally Solutions, and uses none of its logos, screens or course material. Keys and menu paths were checked against Tally's own help site on 12 November 2026; the software changes with each release, so if your screen differs, follow Tally's help (press Ctrl+F1). Tax treatment in the examples is for learning only: ask your accountant.