You can use Tally to manage your finances in a company. This wikiHow will teach you how to import an opening balance in Tally with the exported closing balance of an old company.
Steps
1Open Tally. You’ll find this app in your Start menu. Tally is not available for macOS.You’ll need to have exported closing balances from a company. To do this, go to Gateway of Tally > Display > List of Accounts > E: Export > XML > Enter/Yes.
2Click Import Data. You’ll see this in the “Gateway of Tally” window under the “Utilities” header.
3Click Masters. This is usually the first option in the menu.
4Type in the name of the file you want to import. The default is “master.xml” and is usually the same as the default export file name.X
5Select an option in the “Treatment of entries already existing” box. When you highlight the entry next to the prompt, you’ll see a menu on the right side of your screen that shows all the options for that entry. You’ll generally want to use “Combine Opening Balances” if you want to combine double entries.
6Press ↵ Enter. When you press Enter on your keyboard, the new account with the imported opening balance will display.X
