Tally ERP 9's default balance sheet setup is made to give a snapshot of a company's financial situation at a particular moment in time. It lists the company's assets, liabilities, and equity and the associated balances for each.  Liabilities and assets make up the two primary components of the balance sheet. The resources portion of the report includes the company's assets, such as cash, accounts receivable, inventories, and fixed assets. Equity comprises a business's ownership interests, such as common stock, retained earnings, and dividends.   On the other hand, the section on liabilities includes loans, taxes, and accounts payable, along with the associated balances.   You can alter the balance sheet in Tally ERP 9 to suit your company's particular requirements. You can do this by adding or eliminating accounts, changing account names or balances, and organizing accounts in various ways. The financial analysis and reporting features in Tally ERP 9 can also be used to examine and interpret the information in the balance sheet.