Effect on Balance Sheet and Profit & Loss Account
Integrate Accounts with Inventory in F11: Features has a significant effect on the Balance Sheet and Profit & Loss Account.
| • | If Accounts with Inventory is set to Yes in F11: Features, it the stock/inventory balance figures are updated from the inventory records, which in turn enables you to drill down to the Stock Registers from the Balance Sheet. |
| • | If the option Accounts with Inventory is set to No in F11: Features, the inventory books figures are ignored and closing stock balances are entered manually. |
Note: Stock records often contain compensating errors caused by wrong allocation to items. This feature of Tally enables the finalisation of financial books without waiting for reconciliation of stocks that might take time.