Gateway of Tally-Accounts info-ledger-create

Ledger Group1. Opening stock Stock in hand2. Purchase Purchase account3. Purchase return Purchase account4. Fright charges Direct expenses5. Carriage inwards or Purchases Direct expenses6. Cartage and coolie Direct expenses7. Octroi Direct expenses8. Manufacturing wages Direct expenses9. Coal, gas, water Direct expenses10. Oil and fuel D

irect expenses11. Factory rent, insurance, electricity, lighting and heating Direct expenses12. Sales Sales account13. Salary Indirect expenses14. Postage and telegrams Indirect expenses15. Telephone charges Indirect expenses16. Rent paid Indirect expenses17. Rates and taxes Indirect expenses18. Insurance Indirect expenses19. Audit fees Indirect expenses20. Interest on bank loan Indirect expenses21. Interest on loans paid Indirect expenses22. Bank charges Indirect expenses23. Legal charges Indirect expenses24. Printing and stationery Indirect expenses25. General expenses Indirect expenses26. Sundry expenses Indirect expenses27. Discount allowed Indirect expenses28. Carriage outwards or sales Indirect expenses29. Traveling expenses Indirect expenses30. Advertisement Indirect expenses31. Bad debts Indirect expenses32. Repair renewals Indirect expenses33. Motor expenses Indirect expenses34. Depreciation on assets Indirect expenses35. Interest on investment received Indirect income36. Interest on deposit received Indirect income37. Interest on loans received Indirect income38. Commission received Indirect income39. Discount received Indirect income

40. Rent received Indirect income41. Dividend received Indirect income42. Bad debts recovered Indirect income43. Profit by sale of assets Indirect income44. Sundry income Indirect income45. Loan from others Loan Liabilities46. Bank loan Loan  Liabilities47. Bank overdraft Bank OD48. Bills payable Current Liabilities49. Sundry creditors Sundry creditors50. Mortgage loans Secured loans51. Expense outstanding Current Liabilities52. Income received in advance Current Liabilities53. Other liabilities Current  Liabilities54. Capital Capital account55. Drawings Capital account56. Cash in hand Cash in hand57. Cash at bank Bank account58. Fixed deposit at bank Deposit59. Investments Investments60. Bills receivable Current asset61. Sundry debtors Sundry debtors62. Closing stock Stock in hand63. Stock of stationery Current asset64. Loose tools Fixed asset65. Fixtures and fittings Fixed asset66. Furniture Fixed asset67. Motor vehicles Fixed asset68. Plant and machinery Fixed asset69. Land and building Fixed asset70. Leasehold property Fixed asset71. Patents Fixed asset72. Goodwill Fixed asset73. Prepaid expenses Current asset74. Income outstanding Current assset

Trading account: Buying and selling of goods.

Dr.                     Receiving aspect                                                                    Giving aspect    Cr.

Direct expenses Amount Direct Income AmountTo

Opening stock xxx By Sales xxx

To

Purchases xxx By (-)Sales return xxx

To

(-)purchase return xxx By Closing stock xxx

To

Freight charges xxx

To

Cartage and coolie xxx

To

Lorry hire xxx

To

Manufacturing expenses xxx

To

Wages xxx

To

Factory rent, fuel power xxx

To

Gross profit (transfer to profit and loss account) xxx

To Profit and loss account: Actual profit and loss of the businessIndirect expenses or payments Amount Indirect income or receipts AmountTo Salary xxx By Gross profit xxxTo Postage and Telegram xxx By Interest on investment received xxxTo Telephone charges xxx By Interest on deposit received xxxTo Rent paid xxx By Interest on loans received xxxTo Rate and taxes xxx By Discount received xxxTo Insurance paid xxx By Discount received xxxTo Interest on bank loan xxx By Rent received xxxTo Bank charges xxx By Bad debts received xxxTo Printing and stationery xxx By Net loss xxxTo Discount allowed xxxTo AdvertisementTo Carriage outward (sales)To Depreciation on assets

To General expensesTo TravelingTo Bad debtsTo Net profit

Balance sheet: Actual financial position

Liabilities Amount Assets AmountBank loan xxx Cash in hand xxxBank overdraft xxx Cash at bank xxxBills payable xxx Fixed deposit at bank xxxSundry creditors xxx Investments xxxExpenses outstanding xxx Bills receivable xxxCapital xxx Sundry debtors xxx(-)drawings xxx Closing stock xxxNet profit xxx Stock of stationery xxx

Furniture xxxPlant machinery xxxLand and building xxxMotor vehicles xxxPrepaid expenses xxxIncome outstanding xxx

Gateway of tally-Display-Day book-Alt+F2 (change period) Alt+F1 (to see detail)                        or

Gateway of tally-Stock summary

1. On 1-4-06 Raman commenced business with cash of Rs. 25,00,000. He further introduced Land and    Building costing Rs. 30,000, Plant and Machinery costing Rs. 25,000 and furniture and fixture costing Rs. 36,000.2. On 2-4-06 Purchased Vehicle and Patents Rs. 20,000 and Rs. 15,000.3. On 5-4-06 He deposited Rs. 1, 00,000 into Canara Bank.4. On 6-4-06 Purchased from Cadbury Company            500      5 Stars @  Rs. 5                      1000    Cadbury @ Rs. 5                   100      Kit kat @ Rs. 4                       200      Dairy milk @ Rs. 75. On 10-4-06 Purchased from Paras

500            Moov @ Rs. 20500            D’Clod @ Rs. 12

 6. On 13-4-06 Sold to Pankaj200            Moov @ Rs. 20.50, 100            D’Clod @ Rs. 12.25200            Adhensive tape roll @ Rs. 15.25, 100            Band Aid box @ Rs.

252200            Boric Acid powder @ Rs.14

7. On 15-4-06 Sold to Akbar500            Cadbury @ Rs. 6, 200            5 Star @ Rs.5.25, 50                Kit

Kat @ Rs. 68. On 16-4-06 Paid to Cadbury company Rs.

9. On 18-4-06 Received from Pankaj

10. On 20-4-06 Paid to Paras Rs.

11. On 25-4-06 Received from Akbar Rs.

12. On 26-4-06 Purchase from Well Cloth

            T-Shirts           Lee-25Pc-Rs.200,                      Nike-30Pc-Rs.300                              Formal Shirts   Pan America-35Pc-400,         Peter England-30Pc-450            Jeans Pants      Tiger-20Pc-500                         Ruff and Tuff-30Pc-350            Cotton Pants   Arrow-40Pc-200                     Ex-Calibar-20Pc-250

13. Paid Postage Rs. 500 by cheque14. Received commission Rs. 15,00015. Paid wages Rs. 2,500

Procedure for Inventory ProblemGateway of Tally-Inventory Info-Unit of Measure-Create-Symbol-           Nos.     PcsFormal Name-Number            Pieces

Gateway of Tally-Inventory Info-Stock Group-CreateChocolate, Medicines, Cotton Pants, Jeans Pants, Formal Shirts, T-Shirts

Gateway of Tally-Inventory Info-Stock Item-Create5 StarsKitkat                                                  ChocolateCadburyDairy milk

MoovD’ClodAdhensive tape rolls                           MedicinesBand Aid boxBoric Acid powder

Lee                                                      T-ShirtsNike

Pan America                                        Formal Shirts  

Peter England

Tiger                                                    Jeans Pants     Ruff and Tuff

ArrowEx-Calibar                                           Cotton Pants