Assignment on Chapter :4 to 8 Recording Transactions of
Sample Data of "Swayam Agencies Pvt. Ltd."
The following example shows how to record transactions in Tally .ERP 9
:Mrs Soumya Satpathy, an MBA from BHUBANESWAR , started her own agency called SWAYAM AGENCIES PVT. LTD. on Apr il 1, 2008, to deal in the wholesale trade of sta bilizers and pumps of different capacities.
:Mrs Soumya Satpathy wants to maintain her accounts using Tally.ERP 9. She maintains the books of account un der the accrua l system of accounting.
Transactions recorded for Swayam Education by Mrs Soumya Satpathy for the year 2008- 2009 are as follows :
You are required to:
• Record the transactions
• Prepare financia l sta tement
CREATION OF COMPANY-SWAYAM EDUCATION-LEVEL- I
Field Data to be
Entered
Directory Accept what is displayed by default
Untiled Notes Page 39
www.Tally9Book. Com from Books
beginning from TallyVault Password
01.04.2008 11111111 111
This field is
automatically skipped.
555555
Accounts with Inventory
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Untiled Notes Page 36
CHART OF ACC OUI\'TS- Swayam Agenci es Pvt Ltd.
SI. No. Ledger Under Group Assets
Cell Phone Fixed Assets
Computer Fixed Assets
Electrical Fittings Fixed Assets Furniture & Fixtures Fixed Assets Motor Vehic les Fixed Assets Data Tech Services Local Debtors Java Trading Company Local Debtors Seacrest Trading Company Outstation
Debtors Soft Touch Traders Outstation
Debtors State Trade Corporation,
BBSR
Outstation Debtors Sun-Shine Traders Outstation
Debtors
Bills Receivable Current Assets Prepaid Insurance Current Assets Salary Advance Loan&Advance
(Assets)
Security Deposit Deposit(Asset)
ICICI Bank Bank Account
Petty Cash Cash in Hand
Liabilities
Input VAT @12.5 per cent Duties & Taxes Input VAT @ 4 per cent Duties & Taxes Output CST @ 4 per cent Duties & Taxes Output VAT @ 4 per cent Duties & Taxes Output VAT @ 12.5
per cent VAT Adjust ment Ale
Duties & Taxes Duties & Taxes Electricity Charges Payable Provisions Rent Expenses Payable Provisions Salary Expenses Payable Provisions
VAT Payable Provisions
A 2 Z Traders Local Creditors Icon Enterprises Outstation
Creditors Pacific Merchants Outstation
Creditors WinTech Information
Systems
Outstation Creditors
X-Tech Services Outstation
Creditors
Bills Payable Current
Liabilities Capital
Soumya Satpathy Capital Ale Capital Accounts Soumya Satpathy Drawings Capital Accounts
Page : 2 SWAYAM
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Untiled Notes Page37
Discount Received Indirect Income
Interest R.eceived Indirect Income
Input CST@ 4 per cent Tax On Purchase
Purchase @ 12.5 per cent Purchase Account
Purchase @ 4 per cent Purchase Account
Purchase - CST Purchase
Account
Carriage Inward Expenses Direct Expenses
Advertisement Expenses Indirect Expenses
Bank Charges Indirect
Expenses
Conveyance Expenses Indirect Expenses
Depreciation Expenses Indirect Expenses
Donation Expenses Indirect Expenses
Electricity Expenses Indirect Expenses
Exhibition Expenses Indirect Expenses
Insurance Expenses Indirect Expenses
Interest Due Indirect
Expenses
Printing & Stationery Indirect Expenses
Rent Expenses Indirect
Untiled Notes Page38
Expenses Salary
Expenses Indirect Expenses
Shop
Maintenance Expenses Indirect Expenses
Telephone Expenses Indirect Expenses
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Untiled Notes Page38
1) 1-4-2009
List of Transactions :(SAMPLE EXERCISES) APRIL
2009
Mr. Swayam Satpathy started a Swoyam Agencies by bringing in Capital of Rs.15,00,000 by cheque and deposited the same in ICICI Bank by opening a new account.
Note : Mr. Swayam Satpathy wants to have separate Vouchers for Bank Payment and Receipts. He also wants separate Serial Numbers to be displayed for Bank Receipt (i.e. BK-REC I 001108-09 )and Bank Payment (i.e.BK-PMT I 0011 08-09 ).Hence, Two new Voucher Types - Bank Payment under Payment and Bank Receipt under Receipt - have to be created.
Step 1 : Create Voucher Type 'Bank Receipt'
Create the Bank Receipt under Receipt Vouc her Type :
1. Go to Gateway of Tally.ERP 7Accounts Info 7 Voucher Type 7 Create
2. The Voucher Type creation screen is divided into three sections depending on the various settings
3. Give the name of the new voucher type, e.g., Bank Payment.
The Complete Voucher Creation Screen displays as shown : (al/as) : Bank Payment
Print afte1 saving
Voucher ?
No
Nome of Class
Melhod of Voucher Numbering ?
Make 'Oplional' as defaul1
? No Use Comrnon Nanation
? Yes Na11a1ions for each enlry
? No
Untiled Notes Page39
Prefill wlttl ZERO
NO. BK.PMT/1/08-09 Restan Nun1be1lng Prefix Details Suffix Details
Applicable Starting Particulars From
Numbe1 Appli cable
om Fr
Particulars Appli cable
F1om
Particulars
l·Apr-2006 1 Y••rly
1- Apr-2008 BK PMT/ 1·Apr-2008 108-09
C•lculator
4. Likewise create Bank Receipt Voucher Type as displayed above.
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Untiled Notes Page40
. .
Step 2:
Make an Entry of the Transaction in a Bank Receipt Voucher.
1. Go to Gateway of Tally.ERP 7 Accounting Vouchers 7 F6 : Receipt 7 Select Bank Recei
Voucher Type list to view Bank Receipt Voucher entry screen.
! .... . . x
-= ·l:U.NO BK-REC/1108-09 1·Apr-2008
Tuesday Account ICICI Bank
Cur&/ · 15.00,000.00 Dt
P:irttcul:irs Amount
sw.-iyam Satpathy C:ipital Aic 15,00.000.00
Make an Entry of the Transaction in a Contra Voucher.
Go to Gateway of Tally.ERP 7 Accounting Vouchers 7 F4 : Contra to view the Contra Voucher Sere Enter the Transaction as shown below :
-.· . !•·. 1 r .-·1, •
Untiled Notes Page41
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Accept ? Yes o No
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Untiled Notes Page40
3) 5-4-2009
M r. Swayam purchased Furniture and Fixture worth Rs. 1,50,000 for the Shop by cheque. {Ch. No- 123452)
Step 1 : Create Voucher Type 'Bank Payment'
Create the Bank Payment under Paymen t Voucher Type :
Go to Gateway of Tally.ERP 7 Accounts Info 7 Voucher Type 7 Create to bring up the vouch
creation screen.
1. Name: Bank Payment
2. Type of Voucher : Select Payment from the list of Voucher Types.
3. Method of Voucher Numbering ? :Select Automatic from Type of Numbering list. 4. Use Advanced Configuration : Yes
5. Prefix Details - Particulars : type BK-PMT/
6. Suffix Details - Particulars :type /08-09
Note: See the voucher creation Screen of Receipt Voucher in transaction SI. No-1 Step 2:
Make an Entry of the Transaction in a Bank Payment Voucher.
Go to Gateway of Tally.ERP 7 Accounting Vouchers 7 FS :Bank Payment to view the Bank P Voucher Screen and Enter the Transaction as shown below:
Account : ICICI B:ink Cur &I . 16.00,000.00 Dr
Partieul<1rs Amo
Furnitur• unt & Fixtur•
Cur Bal: 1,50,000.00 Dr
Narration:
Ch.No :123452 being amount paid tor Furniture and FiXture.
Make an Entry of the Transaction in a Bank Payment Voucher.
Go to Gateway of Tally.ERP 7 Accounting Vouchers 7 FS :Bank Payment to view the Bank P
Voucher Screen and Enter the Transaction as shown below :
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Untiled Notes Page40
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Untiled Notes Page41 Deposit towards a
Premises on Rent.
Make an Entry of the Transaction in a Bank Payment Voucher.
Go to Gateway of Tally.ERP -7 Accounting Vouchers -7 FS :Bank Payment to view the Bank Payment Voucher Screen and Enter the Transaction as shown below:
Accountm Voucher Creation swa am A enc1es ·.
• [IIll&!:J(Zl r:::rn• No. BK..PMT/3'08-0S
tO-Apr-2008 or various Fe<.ed
Assets ror the busJness .
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Untiled Notes Page42
6) 12-4-2009
Mr. Swayam has appo1nted the foIIowinq peo )l e.
Name Des ignation Monthly Salary
Salesman 3,500
Shi shir Mathur Accountant 2 ,500
Ajith V Nair Clerk 1.500
Ajith is also in charge of Petty Cash and submitting the statement of Expenses at the end of every monty.
I Note : No Entry i s required because this i s not an Acc ounting Transaction.
1. Gateway of Tally.ERP -7 Accounts Info -7 Vouchers Type -7 Alter 2. Select "Purchase" from the list of Vouchers Types.
3. In third section, change the Method of Vouc her Numbering to 'Manual' .
4. Prevent Duplicate -YES.
5. Retain the other fields as they are - Press CTRL+A ( Save the existing options}
STEP-2:
Make an entry of the transaction In a Purchase Voucher :
Go to Gateway of Tally.ERP Accounting Vouchers F9 :Purchase to view the Purchase Voucher
and Enter the Transaction as shown below :
1. Click the As Invoice button (The entry has to be recorded as a Purchase Invoice with Item wise)
2. Click the Item Invoice button 3. Type P-A2Z-01 in Purchase Bill No.
4. Press F2 to change the Voucher Date to 20-4-2009.
Enter the Purchase Transaction as shown below :
Ref. : No . P -A2Z.-0 1 20-Apr-2008 Sunday Party's Ale Name: A2Z Trnders
Current Balance :
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Untiled Notes Page43
Input VAT @12.5% 12.50 % T,500.00 N a rration:
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67,501).(}0
SWAYAM
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Untiled Notes Page44
8) Hiqh Capacity Stabi
lizers
100 400 40,000 12.5% 45,000
Open Well Pumps 50 150
0
75,000 4% 78,000 Submersible Pumps 100 200
0
2 ,00,000
4% 2 ,08 ,000
Gross Total 3,31,000
STEP-1:
Make an entry of the transaction in a Purchase Vouc her :
Go to Gateway of Tally.ERP Ac counting Vouchers F9 :Purchase to view the Purchase Voucher and Enter the Transaction as shown below :
1. Click the As Invoice button (The entry has to be recorded as a Purchase Invoice with Item wise)
2. Click the Item Invoice button
3. Type P-A2Z-02 in Purchase Bill No.
4. Press F2 to change the Voucher Date to 20-4-2009.
5. Press F12 : Configure & Change the option " Use Common Ledger Ale for Item Allocation" to
remove the Purchase Ledger next to Party's Ale Name option in Purchase Voucher}
Configur e Invoices I Delivery H otes 1 Ord ers Accept Supplementary Details ? Yes
(Address Details, 0eS(Jalch Delails etc)
Use Comm on Ledger Ne for Item Allocation
Use Defaults for Bill Allocat ions Use Excise Formal
Use AdditionalDescriplion(s) for Item Name
Allow separate Buyer and Consignee names
7. Name of Item: Low Capacity Stabilisers.
8. Quantity : 100 Nos.
9. Rate :400.
10. Amount: Amount of 40,000 is automatically displayed
11. Press Enter to view the Acc ounting Details scree.
12. In the Accounting Details screen, select Purchase@ 12.5% from the list of Ledger Accounts.
Accounting Details for : High Capacity StabilisMs Upto:
Rs.40,000.00 Dr P;trticul;
,,rs VAT/Tax Class Amou
nt
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Untiled Notes Page45
Purch;,,se@ 12.6o/o 40,000 .
Cur Bal : 00 1,00,000.00 Dr
40 ,000 . oo l Page : 9
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Untiled Notes Page46
" • I x
No 1 12-Apr-:2008
Tuesday
Account · c:ish
Cur Bal : 4!>.500.00 Dr
Particulars Amount
carrl:ige Inward Expensu Cur Bal. 500.00 Dr
Narratjon:
being the amount paid towards Carriage Inward Expenses on Purchase made on 20-4-2006 and 21-4-2006 .
500.00
500.00
Accept '?
Yes " I No
13. Retain the amount displayed and accept the Accounting Details screen.
As per above procedure or steps, Enter other Two Items as shown in below screen :
21.A
Party's Ale Name A2Z Trndets Cuff!tnl. Bof.ance 01,5aitOO Ct
pt..20 Mond08 a y
Nam e of lreni 011.Jntl Rate er
Amount 11,11 u,..aarr s..tlh15
Open W ell Putrt p$
S• 111&1al>le Pumps
Input VAT@\I'•
Mr. Swayam paid Carriage Inward Expenses of Rs.500 in cash on purchase made on 20-4-2009 and 21-4-2009.
Step 1:
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Untiled Notes Page47 Contra Voucher Ser; Enter the Transaction as shown below :
!::\ T ally 9
(cl Tally Sohnlons FZ·LLC.1988
NO.2 27-Apr-2008 sunoay
Ar.coum ·P•tty C3sh C,.,, &J ·
10.000.00 Dr
P;1rtic ulnrs Amount
Cash
Cur&/ : 3'J.W0.00Dr 10.000.00
Narrabon:
Amount transfer from Cash to Petty Casn to meet tile day to day
M r. Swayam wi thdrew Rs.5,000 in cash for personal use.
Step 1:
Make an Entry of the Transaction in a Payment Voucher.
Go to Gateway of Tally.ERP 7 Accounting Vouchers 7 F5 : Payment to view the Payment Voucher and Enter the Transaction as shown below :
Account . Cuh
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Untiled Notes Page48
Amount 5,000.00
5,000.00 Accept ?
Yes ur No
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Untiled Notes Page49
12) 30-4-2009 VAT adjustment entry.
At the end of evel}' month, VAT Adjustment entl}' has to recorded. To record the Adjustment , Input and Out Tax accounts are Credited and Debited, respectfully to nullify their Balances and the net balance is trans VAT Adjustment account.
A Debit Balance of VAT Adjustment account indicates that the excess Input being carried forward to the next month and a Credit Balance
indicates that VAT is Payable.
As per Accounting conventions
The Journal Entry for the above transaction is as follows .
VAT Adjustment Ale Dr.
Rs.23,500
To lnputVAT@ 12.5%
Cr. To lnputVAT@4%
Cr.
Rs.12,500 Rs.11,000
As per Tally.ERP conventions
Create Ledger VAT Adjustment Ale (under Duties and Taxes) as details below :
Go to Gateway of Tally.ERP -7 Accounts Info -7 Ledger -7 Create to view the ledger creation screen.
1. Name : VAT Adjustment A/c
Note : Since the VAT/Tax Class is not applicable the percentage of calculation automatically appears as 0.
(To know the Tax amount that is to be adjusted, go to Gateway of Tally.ERP
> Display > Statutory Re VAT Reports> VAT Computation)
x
Excess Input Credit Bl()Ughl F0tward
Untiled Notes Page50
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