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Accounts with Inventory Multiple Godown. Multiple Currencies Reconciliation Voucher Class. Budget and Controls Price List Export and Import of Data
Batch wise Details Tally Audit Security Control Web-Enabled Print Preview Online Help Backup and Restore
KIRAN SALUNKE
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Definition Of Accounts :-
The individual record of Person, Firm, Asset, abilities, Expenses or Income is called as Account.
Book Keeping :- Book Keeping means maintaining the record of business transaction in a systematic manner.
Transaction :- An exchange of money or money’s worth between
two parties is called a transaction.
Type of Transaction
1. Cash Transaction 2. Credit Transaction
Objective Of Book Keeping :-
To know the profit or loss of business during a particular period.
To know the capital invested in the business on any particular day.
To know the total assets and liabilities of the business on a particular
date.
To know the total debtors and creditors of the business.
To find out the total incomes and total expenditure of the business.
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1. J ournal Book
2. Ledger Book
3. Balancing of each Ledger
4. Reconciliat ion
5. T rial Balance
6. T rading & Profi t & Loss A / c
7. Balance S heet
Procedure of writ ing A ccounts: - >
Manual System
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Journal Book :-
It is a book of accounts where the transactions are recorded for the first time.
Date Particulars L/F Dr. amountRs.
Cr. amou
ntRs.
02sept.26
This column is used to write the name of accounts which get Debit and Credit effect.( Narration :- Start with ‘Being’ word)
Manual System
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Ledger Book :-Ledger contains accounts of several persons, assets, expenses, incomes, profits, etc. A ledger is a book of accounts where the transactions are transferred from the journal book.
Dr. Ledger a/c Cr.Date Particulars J/F Amt
Rs.Date Particulars J/F Amt
Rs.
Manual System
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Trial Balance :-The list or the statement of balances of
ledger accounts on a particular date is known as “Trial Balance.”
Sr.No Particulars L.F. Debit amount
Credit amoun
t
Trial Balance of xyz company
as on 1st April,2002
Manual System
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Trading & Profit & Loss A/c :-
It is an account which shows the net Profit / Net Loss of a business for certain period.
Particulars Rs. Particulars Rs.
All Expenses & Losses
Net profit a/cXX
All Income & Gains
Net Loss a/c XX
Trading & Profit & Loss A/C
For the year ended 31st March 2003
Manual System
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Balance Sheet :- The Balance Sheet is a statement showing
the financial position of the business as on a particular day.
“Financial Position” means the details of the different assets & liabilities.
Liabilities Assets
Current LiabilitiesReserve & SurplusBank ODUnsecured LoanSundry CreditorsOutstanding
Fixed AssetsInvestmentCurrent Assets Stock Bank A/c Sundry Debtors
Balance Sheet
As on 31st March 2003
Manual System
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Types of Accounts
Personal Accounts Impersonal Accounts
Real Accounts Nominal Accounts
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Personal A/c :-The type Personal Account includes the
accounts of individuals, banks, partnership firms, companies, etc.
The Principle of Personal Account is as follows :-
DEBIT THE RECEIVER, AND
CREDIT THE GIVER.
She is the Receiver
He is the
giver
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Real Account :- The type Real account includes the
account of assets, properties, goods and cash.
The principle of Real Account is as follows :-
DEBIT WHAT COMES IN CREDIT WHAT GOES OUT.
Purchase Transaction :-
Comes in Goes out
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Nominal Account :- Nominal account includes the accounts of all
expenses and losses, incomes, and gains.
The principle of Nominal Account is as follows :-
DEBIT ALL EXPENSES AND LOSSESCREDIT ALL INCOMES AND GAINS (PROFITS)
LossProfit
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Inventory :-
Available stock at Factory site.
Types of Inventory :-
* Raw Inventory* Processing Inventory* Finished Inventory
Procedure of Inventory Control :SalesSales Order – Delivery Note – Rejection In – Sales Invoice – Sales Voucher – Receipt VoucherPurchase Purchase Order – Receipt Note – Rejection Out – Purchase Invoice – Purchase Voucher – Payment Voucher
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Pur chase Voucher
Payment Voucher
S ales Voucher
Receipt Voucher
J ournal Voucher
Contra Voucher
Accountingvouchers
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Purchase Voucher :-
Shortcut Key (F9)
Purchase Voucher
Description Records all Credit & Cash purchases
Voucher Entry
Account Amount
Amount
Supplier’s ledger account( Sundry Creditors )
Credit
Purchases ( Purchase A/C)Sales Tax on purchases
Debit
Debit
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Payment Voucher
Shortcut Key (F5)
Payment Voucher
Description Records all bank and cash payments
Voucher Entry
Account Amount
Amount
ledger account( Sundry Creditors)
Debit
Bank or cash account, Credit
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Sales Voucher
Shortcut Key (F8)
Sales Voucher
Description Records all credit & Cash sales
Voucher Entry
Account Amount
Amount
Buyer’s ledger account( Sundry Debtors )
Debit
Sales ( Sales Accounts)Sales Tax
CreditCredit
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Receipt Voucher
Shortcut Key (F6)
Receipt Voucher
Description Records all receipts into bank or cash accounts
Voucher Entry
Account Amount
Amount
Ledger account receiving,(Indirect Incomes)
Credit
Bank or Cash account Debit
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Contra Voucher
Shortcut Key (F4)
Contra Voucher
Description Records funds transfer between cash and bank accounts
Voucher Entry
Account Amount
Amount
E.g. Bank-Bank Account(Bank Accounts)
Credit
E.g. Petty Cash (Cash-in-hand)
Debit
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Journal Voucher
Shortcut Key (F7)
Journal Voucher
Description Records all adjustments between ledger accounts
Voucher Entry
Account Amount
Amount
E.g. Advertising( Indirect Expenses )
Debit
E.g. Office Costs( Indirect Expenses )
Credit
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Rej ct ions I n
Delivery N ote
Rej ect ions O ut
Receipt N ote
Physical S tock
S tock J ournal
Inventory Vouchers
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Delivery Note
Description
Records Delivery stock
Details recorded
Ref., ledger a/c, supplier’s name & Address, order details, name of stock item, stock Godown, Qty, Rate, Amount.
Delivery Note
Shortcut Key (Alt+F8)
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Rejections In
Shortcut Key (Ctrl+F6)
Rejections In (Sales Returns)
Description
Records rejected stock details received from customers
Details recorded
Ref., ledger a/c, supplier’s name & Address, order details, name of stock item, stock Godown, Qty, Rate, Amount.
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Receipt Note :- Shortcut Key (Alt+F9)
Rejections Out :-Shortcut Key (Alt+F6)
Receipt Note
Description
Records receipt of new stock from suppliers
Details recorded
Ref., ledger a/c, supplier’s name & Address, order details, name of stock item, stock Godown, Qty, Rate, Amount.
Rejections Out (Purchase Returns)
Description
Records rejected stock details returned to suppliers
Details recorded
Ref., ledger a/c, supplier’s name & Address, order details, name of stock item, stock Godown, Qty, Rate, Amount.
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Physical Stock :-Shortcut Key (Alt+F10)
Stock Journal :-Shortcut Key(Alt+F7)
Physical Stock Voucher
Description
Records the physical stock count as the new stock balance
Details recorded
Name of stock item, Godown, Qty.
Stock Journal Voucher
Description
Essentially records the transfer of stock from one Godown to another
Details recorded
Names of from and to Godowns, name of stock item, Qty, Rate, Amount, Narration
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Debit N ote Voucher
Credit N ote Voucher
Rever sing J ournals
Memo Voucher
O ptional Voucher
Post- dated Voucher
Accountingvouchers
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Debit Note Voucher :-
Shortcut Key (Ctrl + F9)
Debit Note Voucher
Description Records Debit note entry for purchase returns or overcharging by a supplier
Voucher Entry
Account Amount
Amount
Supplier’s a/c Debit
Purchases Returns Credit
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Credit Note Voucher :-
Shortcut Key ( Ctrl+F8)
Credit Note Voucher
Description Records Credit note entry for sales returns or customer overcharging
Voucher Entry
Account Amount
Amount
Sales Returns Debit
Customer A/c Credit
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Reversing Journal Voucher :- Shortcut Key (F10)
Reversing Journal Voucher
Description Records the voucher entries in a Reversing Journal Register, without affecting the ledger accounts and financial statements
Voucher Entry
Account Amount
Amount
ledger account Debit
ledger account Credit
Reversing Journals are used for the purpose of Scenario Management reporting. Detailed explanation is available on in Volume Two.
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This is a non-accounting voucher and the entries made using it will not affect your accounts. That is, Tally does not post these entries to ledgers but stores them in a separate “Memo Register”.
Memo Voucher
Description Records the voucher entries in a Memo Register, without affecting the ledger accounts and financial statements
Voucher Entry
Account Amount
Amount
ledger account Debit
ledger account Credit
Memo Voucher :-Shortcut Key(F10)
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Optional Voucher :- This is another non-accounting
voucher. However, it differs from the Memo voucher in two respects :Firstly, it is not a voucher type, all other voucher types can be marked ‘Optional’ during voucher entry.Secondly, you have the option to bring this voucher into your accounts Temporarily and see its effect on financial reports.
Optional VoucherOptional Voucher
Description Records the voucher entries temporarily, to help visualise the effect on reports, without affectiong the ledger
Voucher Entry
Account Amount
Amount
ledger account Debit
ledger account Credit
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Sales Order
Purchase Order
Inventory Voucher
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Sales Order :-Shortcut Key(Alt+F4)
Sales Order
Description
Records Placing an order of new stock to Customers
Details recorded
Ref., ledger a/c, supplier’s name & Address, order details, name of stock item, stock Godown, Qty, Rate, Amount.
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Purchase Order :-Shortcut Key (Alt+F4)
Purchase Order
Description
Records Placing an order of new stock to suppliers
Details recorded
Ref., ledger a/c, supplier’s name & Address, order details, name of stock item, stock Godown, Qty, Rate, Amount.