What Does Tally Mean?

Tally means
T - total
A - assets
L - liablityes
L - liabilitys
y - of the year

The word "tally" is a noun that refers to a number of related things. It may refer to a kind of reckoning or a score. It is also the name given to a stick on which a score or count is kept. A tally may also refer to the actual process of recording something in sets of five which is carried out by the crude process of marking four vertical lines and them crossing them with a fifth diagonal line. It refers to something that has a corresponding double that relates to it. In this sense it is a term used in accountancy to define the process by which books are made to tally or correspond in terms of final figures. In naval jargon any plaque that instructs as to any machines operations on an ocean going vessel is referred to as a tally. It is also used as a verb to refer among other things to the actual process of counting.

Advantages of tally

It means to add up.