Tally Final Project

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Unfil ed Notes Page 1

PRACTICAL EXERCISES" 2 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 Na me Mailing Name Address E-mail Address Use Indian VAT Applicable From VATTin

Local Sales Tax Number

Inter-State Sales Tax

Number Income Tax Number Currency Symbol Maintain Financi al Year from Books beginni ng

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Unfil ed Notes Page 2 TallyVault Password Use Security Control Pvt. ltd. Swayam Agencies Pvt. ltd. At: Janpath, Bhunaneswar, Orissa, INDIA PIN:754001 swayam [email protected] Yes 01.04.2008 11111111 111 This field is

automatically skipped. 555555 55 ABCDE 1111A R s Accounts with Inventory 01-04-2008 01-04-2008

Skip the field (Leave blank)

N o

Page : 1 _SWAYA

M

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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

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Unfil ed Notes Page 4 Revenue

Expenses

Sales@ 12.5 per cent Sales Accounts Sales @ 4 per cent Sales Accounts

Sales-CST Sales Accounts

Discount Received Indirect Income

Interest Received 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

Advert isement 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

Expenses

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Unfil ed Notes Page 5 Expenses

Shop

Maintenance

Expenses Indirect Expenses

Telephone Expenses Indirect Expenses

Tally.ERP9Book Page: 3 www .Tally9Book.com

SWAY.AM

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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. = · ifiif · flj £W.encl!S 4ieh$i x

The Complete Voucher Creation Screen displays as shown :

(al/as) : Bank Payment I Type or Voucher Abbr Gene r al . Pd yme nt : BK-PMT

Print afte1 saving Voucher ? No Nome of Class Melhod of Voucher Numbering ? Autom atic Use Advance Configuration ? Yes Use EFFECTIVE Dales for

Vouchers ?

Make 'Oplional' as defaul1

? No Use Comrnon Nanation

?

Yes

Na11a1ions for each enlry ? No ltert1t1on Secondil Starting Nurrber w1atn or NumencalPan

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Unfil ed Notes Page 7 Prefill wlttl

ZERO

NO. BK.PMT/1/08-09 Restan Nun1be1lng Prefix Details Suffix Details Applicable Starting

Particulars From Numbe1 Appli cable Fr om 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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.

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

Cur &I : 15,00.000.00 Ct

Narration: 15.00.000.00

Ch.No. :187962 being cheque deposited in ICICIBani\.

Acc@pt '? Yes •r No

C clll tor ODBC Server

-2) 3-4-2009

M r. Swayam withdrew Rs.50,000 cheque for Shop Expenditure from ICICI Bank . ( Cheque No- 123451)

Step 1:

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, • "" " lioolf l•U l'l..'I l'·''"" ,.•.!··... x

"" No.1 3-Apr-2008 _T_h_urs_d_ay

Account · Cash

Cur Bal . 50,000.00 D r

Parti cul ars Amou

nt ICICIB:ink 50,000.00 Cw &/ . 14,50,000.00 Dr Narration: 50.000.0 0

Ch. No. 12345 1 being cash withdrawn ror Shop Expenditure.

.:.11cul:ito1 ODBC

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Unfil ed Notes Page 9 www.Tally9Book. Com Page : 5 www.Tallv9Book.com Accept ? Yes o No SWAYAM

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Unfil ed Notes Page 10

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

unt

Furnitur• & Fixtur• Cur Bal: 1,50,000.00 Dr Narration:

Ch.No :123452 being amount paid tor Furniture and FiXture. 1.50.00 0.00 1.50.00 0.00 4) 8-4-2009

M r. Swayam rented a prem ises on 1-4-2009 for his bus iness at Rs. 3,500 per month . He paid a Security Deposit of Rs.25,000 by cheque. (Ch. No-123453)

Step 1:

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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Unfil ed Notes Page 12 -· -= "l•lit 1.... No BK PMT• "' /2 08--09 . 1· 8-Apr-2008 Tuesday Account . 1c1c1 Bank

Cur PartiBal cula: 11.,75.000.00 Dr rs Amo unt

Sec urity Deposit

Cur Bal : 25.000.00 Dr Narration:

Ch . No 123453 being amount paid ror security Deposit towards a Premises on Rent. 25.00 0.00 25,00 0.00 Acc• pt ? Y@s ,. No

C lculator ODBC Stnver

-I 5) 10-4-2009

Mr. Swayam issued a cheque to purchase the follow ing Assets. (Ch . No-123454)

Assets I Cost Rate of

Depreciations Cell Phone I Rs.5,500 15%

Computer I Rs. 25,000 60%

Electrical Fitt ings I Rs. 5,000 10%

Motor Vehicle ( 2 Whee ler) I Rs. 40,000

15%

Step 1:

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 Thursday Aecount : ICICI B nk CJ.Jr Bal 11.!>9 .SOO.OO Dr Amount Cell Phone CJ.Jr Bal · S. 0.00 Dr Computer Cur Bal . 25.000.00 Dt Electri c31 F itting s CJ.Jr Bal . 5.000.00 Dr

Motor Vehicle C 2 Wheel er) Cur Bal

40.000.00 Dt NarratJon;

Ch No •123454 being amount paid towards purchase or various Fe<.ed

Assets ror the busJness .

5.50 0.00 25,00 0.00 5.00 0.00 40.0 00.0 0 75.5 00.00

C:>lcul:uor ODBC server

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6) 12-4-2009

Mr. Swayam has appo1nted the foIIowing peo )l e. Name Des ignation Monthly

Salary

Rahul Bhatt Sales

Executive

4,000 Jairam

Sengupta

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.

7) 20-4-2009

Mr.Swayam urch

ase t e lolowing tems f rom A2Z Trad ers on cred'1t.

Item Quantity Rate Value Input VAT Total

H i gh Capacity Stabilizers

100 600 60,000 12.5% 67,500

STEP-1:

Change the Method of Vo ucher Numbering as Manual In Purchase Voucher :

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 theItem 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-ApSru-2nd008 ay Party's Ale Name: A2Z Trnders

Current Balance :

Purchase Ledger : Pm clH>se@ 12.5 .

VAT/T sx Clssa: Purch'1ses@ 12.5%

Name. of Item Quantity Rate p er

Am ount

100 N os. G00.00 nos. 60,000.00

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Unfil ed Notes Page 14 www.Tally9Book. Com Input VAT @12.5% 12.50 % T,500.00 N a rration: Page: 8 www.Tallv9Book. com 67,501).(}0 SWAYAM

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Untiled Notes Page 10 8)

21-4-2009 Mr.Swayam urch

ase t e lo owing tems f rom A2Z Traders on cred.1t.

Item Quanti

ty

Rote Value Input VAT Total Hiqh Capacity Stabilizers 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.

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}

Configure Invoices I Oelivery Hotes t Orders Accept Supplementary Details ? Yes

(Address Details, 0eS(Jalch

Delails etc)

Use Common Ledger Ne for Item .AJlocation

Use Defaults for Bill Allocat ions Use Excise Formal

Use Additional Descriplion(s) for Item Name

.AJlow separate Buyer and Consignee names

? Yes ? Ho ? Ho

? Ho

6. Party's Ale Name :Select A'JZ Traders. 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% f rom the list of Ledger Accounts.

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Untiled Notes Page 11

P"rticul rs VAT/Tax Class Amount

Purchse@ 12.6% Purch ses @ 12.5 o 40,000 . 00

Cur Bal : 1,00,000.00 Dr

40, 000.oo _l

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" • No 1 Account · c:ish Cur Bal : 4!>.500.00 Dr I x 12-Apr-:2008 Tuesday 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 , 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 ..2008

Mond ay

Name of lreni 011.Jntl Rate er A m ou

nt

11,11 u,..aarr s..tlh15 Open W ell Putrt p$ S• 111&1al>le Pumps

Input VAT@\I '• lnp •lt VAT @12.5"+ Na-n ation. 100 Nos. 400.00 ll•s. .l0.000.00 50 Nos. 1,500.00 lies. 75.000.0 -0 100 Nos. 2.000.00 llu. 2.00.000 .00 3,15,000.00 4 % 11.000.00 1Z.50 % S.000.00 250 Nos 3.31.000. 00 9) 22-4-2009

Mr. Swayam paid Carriage Inward Expenses of Rs.500 in cash on purchase made on 20-4-2009 and 21-4-2009.

Step 1:

Make an Entry of the Transaction in a Payment Voucher.

Go to Gateway of Tally.ERP 7 A ccounting Vouchers 7 F5 : Payment to view the Payment Voucher a

.n..d Ente.r..t.he . T.r.a.nsaction as..s..hown below :

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n d

-·

.

..

I

.

...

10) 27-4-2009

M r. Swa am t ransfer red Rs. 10,000 to Pett Cash from Cash to meet the da

to da ex enses. Step 1:

Make an Entry of the Transaction in a Contra (F4) Voucher .

Go to Gateway of Tally.ERP 7 A ccounting Vouchers 7 F4 : Contra to view the Contra Voucher Ser; Enter the Transaction as shown below :

!::\ T ally 9

(cl Tally Sohnlons FZ·LLC. 1988 2006 TallyGo ld Mu fti Use1 hnp:··wJMly$oht1ions.com Sl. No.: 2007 f :Pnnl f:Export IQ:Upload ••:J:lim:J•• I!!.: Help x NO.2 27-Apr-2008 _sunoay

Ar.coum ·P•tty C3sh C,.,, &J · 10.000.00 Dr P;1rticulnrs Amount Cosh Cur&/ : 3'J.W0.00Dr 10.000.00 Narrabon:

Amount transfer from Cash to Petty

Casn to meet tile day to day

expenses.

10.000.00 Accept? Y •s No 11) 28-4-2009

M r. Swayam wi thdrew Rs.5,000 in cash for personal use. Step 1:

Go to Gateway of Tally.ERP 7 Accounting Vouchers 7 F5 : Payment to view the Payment Voucher a Enter the Transaction as shown below :

I• -' •fl • ... ,L' JU&.J. •... x • "' No.2 28-Apr-2008 Monday Account . Cuh Cur Bal · 44,501>.00 Dr Partieu1:1rs Amoun t

Swam Satpath y On.wing IVc

5,000.0 0

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www.Tally9Book. Com Cur Bal : 5,000.00 Dr

Narration:

5,000.0 0

Being amount withdrawn by Mr.Swayam Satpathy ror persona l use.

Acc ept ? Yes r No

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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 Journa l 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

2. Under :Duties & Taxes

3. Type of Duty I Tax : Select VAT from Types of Duty I Tax lust

4. VAT I Tax Class : Not Applicable

5. Inventory Values are affected ? : No.

6. Accept ? Yes or No ? 7 Press Y or Enter

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

Pa 1 Iic u I a r s _AgencieSw ly.lm _s

1-A Assessil r-2008 1o 30-A r-2000

hle Val ue Tax Am ount Purchases B. lnpul Tax

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II II II IIII Input VAT@ 4% Tot alInput Ciedit 2 75 000_3,₇₅.00_.00 11 ODO.DO 0.00 23.50 0.00 Page : 12 www.Tallv9Book.com SWAYAM

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P3rtlcul;irs Debit C redit

By VAT Adjustment 23,500.00 Cur Bal · 23,500.00 Dr To Input VAT @12.5 12,500.00 Cur Bal : 0.00 Cr To Input VAT @-4% 11,000.00 Cur Bal : 0.00 Cr Narration: 23.500.00 23.500.00

VAT Adjustment entry for April 2006 .

Accept ?

Y es Jr No Step-1 :

Make an Entry of the Transaction in a Journal Voucher .

Go to Gateway of Tally.ERP 7 Accounting Vouchers 7 F7 : Journal to view the Journal Voucher Sci'

Enter the Transaction as shown below :

x 30-Apr-2008 weooes day

13) 30-4-2009

Make an entry for the Salary Due of all staff for the month of April 2009. The deta ils are as follows:

Name Salary Paid Number of Days

Rahul Bhatt Rs. 2,400 18 Ja iram Sengupta Rs, 2,100 18 Shishir Mathur Rs. 1,500 18 Ajith V Nair Rs. 900 18

Note : Create the all above ind ividua l staff Ledger Account under Loan & Advance ( Asset)

Make a Transaction in Journal Voucher ( F7):

Go to Gateway of Tally.ERP 7 Accounting Vouchers 7 F7 : Journal to view the Journal \

Screen and Enter the Transaction as shown below :

Page : 13 _SWAYAM

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Nom e Salary Paid Nu mber of Days

Rahul Bhatt Rs. 2,400 18 Ja iram Sengupta Rs, 2,100 18 Shishir Mathur Rs. 1,500 18 Ajith V Nair Rs. 900 18 14) 1-5-2009 MAY 2009

Mr. Swayam paid Salaries through cheque for April 2009 . ( Ch.

No-123455). The details are as follows :

Note: Cost Center has to be created in each employee's name.Ensure that Maintain Cost Centers is set to YES in F11 :

Features> Accounting Features.

Cost/Pr ofit Centre$ M anageme nt

Maintain Payroll ? No

Maint ain Cost Centres

Use Cost Centre for Job Costing ? No More than ONE Pay roll / Cost Category ? Ho

Use Pre-defined Cost Cen1reAllocatons during Ent ry ? No Cost Center

Cost Centers are the Cost objects for which Expenses are incurred under

various account heads and t control can be effectively established by keeping

track of the Cost at one place.

Similar to Cost Center, you can have Revenue Centers to keep track of Revenues.

Example of Cost Centers

• Departments of an organization . For example, Finance, Marketing,

Manufacturing,

• Product of a Company.For example: Tally.ERP 9 , Income Tax, Service Tax

• Individuals. For example :Salesman A , Salesman B , Salesman C.

Step-1

Create Cost Centers :

Go to Gateway of Tally.ERP 7A ccounts Info 7 Cost Centers 7 Multiple Cost Centers 7 Create to v

multi Cost Centers creation screen.

1. Under Cost Centre : All Items

2. Enter the details as shown in the following table...

SI.No. Name of Cost Center Un_e_r_-d

1) Rahul Bhatt Primar

y

2) _{Jairam Sengupta} _Primar

y

3) Shishir Mathur Primar

y

4) Ajith V Nair Primar

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Untiled Notes Page 21 S.N o. Name of Cost Centre Under 1. RahulBhatt a Primary 2. Jairam Sengupta o Primary 3. Shlshlr Mathur o Primary 4. Ajit V Niiir o Primary Accept ? Y es m No x Under Cost Centre D All Items

3. Accept? Yes or No? -7 Press Y or Enter

Step-2

Create Salary Expenses (under Indirect Expenses) :

Note: Set the field Cost Centers are applicable ? to Yes at the lime of Salary expenses ledger creation.

Led er Alteration

Name (OlilM}

: Salary Ex penses

Under : Indirect Ex penses Inventory values are

affected

Cost cent res are applicable

? Ho

<fB>

Step-2

Make en entry of the Transaction in a Bank Payment voucher (FS) :

1. Go to Gateway of Tally.ERP Accounting Vouchers F5: Payment >select Bank Payme

voucher type list

3. Select "ICICI Bank" in the Header Account> then Select "Salary

Expenses" in Particulars head and value of Rs.6,900 in Amount column and press Enter key to view the Cost Center Allocation sere enter the details as shown in the followin table.

Name of Cost Center Amount

Rahul Bhatt 2,400

Jairam Sengupta 2, 100

Shishir Mathur 1,500

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P<irtic ulars Amount

Salary Expenses

Ci..•r Bal : 6.900.00 Dr

Rahul Bhan 2,400.00 Dr

Jairam Sengupt a 2.100.00 Dr

Shishir Mathur 1,500.00 Dr

Ajit V Nai1 900.00 D1

Narration:

Ch. No.:123455 being Salaiy paid for ApHI2006 .

6.900.00

6,900.00 Accept? Y e s CJr No

4. Press Enter to accept the Cost Center allocation entries. The Bank

Payment Voucher sc reen will be as below ...

,A.ccount: ICICIBani< Cur Bal. 11,92,600.00 Dr

15) 2-5-2009

Mr. Swayam paid Rs.2500 in Cash for stationery , printing invo ices and vouchers to Cannon Traders.

Note :Set the field Cost Center are applicable ? to No at the time of creating Ledger Printing & Stationer Expenses .

Make an entry of the Transaction in a Payment Voucher ( F5 ) : Header Accou nt :Cash Acc ount

Line Acc ount ( Particulars): Printing & stationery Expenses -7 Rs.2500 To see the Payment Vo ucher Screen (See Transaction SL.No. - 9 )

16) 3-5-2009

Mr. Swayam received the statement of expend iture from the Petty Cashier

for April 2009. the statement is as follows :

Nom e of Expenses Amount (Rs.)

Printing & Stationery 2 ,500

Cell phone bill 600

Shop maintenance Expenses 450

Conveyance expenses for Marketing Execut ives

Pag e : 16 www.Tallv9Book.com

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Note :Set the field Cost Center are applicable ? to No at the time of Ledger creation for all the Ledgers mentioned above..

Step 1:

Go to Gateway of Tally.ERP 7 Accounting Vouchers 7 F5 : Payment to view the Cash Payment Screen and Enter the Transaction as shown below ·

Header Account : Petty Cash

Line Accounts( Particulars) : Printing & Stationery Expenses -7 Rs.2500 Telephone Expenses -7 Rs.600

Shop Maintenance Expenses -7 Rs.450 Conveyance

Expenses -7 Rs.250

Acc ount · Petty cash

Cur Bal: 6.200.00 Dr

Particulars

Amoun t

Printing & Stationery Ei:penses

Cur Bal : 5,000.00 Dr

Telephone Expenses

2,500.00

600.00 Cur Bal · 600.00 Dr

Shop Maintenanc Expenses 450.00

Cur Bal : 450.00 Dr Conv ey ance Expenditure 250.0 0 Cur Bal: 250.00 Dr Narration: 3,800.00 Accept? Y es o• No 17) 6-5-2009

Mr. paid Rs. 3,500 by cheque towards Shop Rent for April 2009. {Ch. No-123456) Note: Set the field Cost Center are applicable ? to No at the time of creating Ledger Printing Shop Rent. Make an entry of the Transaction in a Payment Voucher ( FS ) : Bank Payment

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Line Account ( Particulars) : Rent Expenses -7 Rs.3,500

To see the Bank Payment Voucher Screen (See Transaction SL.No. - 5)

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Untiled Notes Page 27 18) 10-5-2009

Mr. Swayam so Id the foIIowing items f or Cash . The deta1·1s are as f0IIows : Item Quantity Rote Value Output

VAT Total High Capacity Stabilizers 50 850 42 ,500 12.5% 47,813 Open Well Pumps ₁₅ ₁₇₀₀ _25,50

0 4'Yo 26,520 Gross Total 74.333 Step-1:

Make an entry of the transaction in a Sales Voucher ( FS) :

Go to Gateway of Tally.ERP Accounting Vouchers FS :

Sales displays the Sales Voucher screen. Note:

1. Ensure that As Invoice and Item Invoice buttons are activated. This is because the sales entry has to be recorded as an item invoice.

2. Ensure that in F 12 ( Configuration) in Sales Voucher ,

18-A) 15-5-2009

Mr. Swayam issued a cheque to A2Z Traders for Rs.3,96,500 after

deducting the Discount of Rs. 2,000. He receive a Discount as he agreed to pay the entire Bill Amount . (Ch No-123457)

19) 28-5-208

Mr. Swayam withdrew Rs. 4,000 in cash for personal use. 20) 30-5-2009

Mr. Swayam received the statement of Expenditure from the petty Cashier for May 2009 . the statement is as follows :

Nome of Expenses A mount (Rs.}

Cell phone bill 1,500

Shop maintenance Expenses 200

Conveyance expenses for Marketing Executives 800 21) 31-5-2009 VAT adjustment entry.

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3-6-2009

JUNE 2009

Mr. Swayam paid Rs. 3500 in cash towards Shop Rent for May 2009 23)

4-6-2009

Mr. Swayam issued a cheque of Rs. 11,000 on the Petty Cashier . (Cheque No-123458)

24)

6-6-2009

Mr. Swayam paid Salary for May 2009 by cheque. (Ch . No-123459) 25)

8-6-2009

Mr. Swayam purchased the following Goods from Dust Merchants on Credit for 30 days . Interest

IS to be caIcula ted at 10'%o per annum

Itern Quantit

y

Rate Value Input VAT Total

High Capacity Stabilizers 200 650 1,30,00

0

12.5% 1.46.250 Open Well Pumps 300 1600 4,80

,000 4Jo 4,99,200

Gross Total 6,45,450

26)

10-6-2009

Mr. Swayam paid Carriage Inward of Rs. 400 in cash . 27)

12-6-2009

Mr. Swayam Sold the following Items to Me Trading Company on credit for 45 days . Interest charted is at 15% per annum, if payment is not made within the credit period.

28)

15-6-2009

Mr. Swayam withdraw Rs. 5,000 in cash for personal use. 29)

20-6-2009

Mr. Swayam Deposited cash Rs. 40,000 to ICICI Bank. 30)

27-6-2009

Mr. Swayam paid Rs. 2000 in cash to Mr. Jairam Sengupta as Salary advance.

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Note: Salary Advance is to be adjusted in Four equalinstallment.

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Nome of Expenses Amount (Rs .)

Insurance premium for the period 1-7-2009 to 30-6-2009 2,400

Conveyance Expenses of Marketing Executives 600

Shop Maintenance Expenses 550

Electricity Expenses 500 Item Pure hose Qty . Free Totol Qty. Rote Volue Input VAT Totol Amt.

High Capacity Stabilizers 50 5 55 650 32500 12.5% 36 ,536

31)

28-6-2009

Mr. Swayam received the statement of Expenditure from the Petty Cahier on end 30-6-2009. the statement is as follows.

32)

29-6-2009

Mr. Swayam SoId the f oIIow1nq terns to You Tech Services on ered"1t.

Item Quanti ty Rot e Volue Output VAT Totol Law Capacity Stabilizers 100 550 55,00 0 12.5% 61,875 Gross Totol 61.875 33) 30-6-2009

VAT adjustment entry.

34) 3-7-2009

JULY 2009

Mr. Swayam paid the Salaries through Cheque for June 2009.

Note : Adjust the Salary Advance of Rs.500 ( 1'1 Installment) given to Mr.

Jairam Sengupta.

35) 6-7-2009

Mr. Swayam paid Rent in cash for June 2009. 36)

14-7-2009

Mr. Swayam Purchased the following Items under a Sales Office. He paid by cheque. The offer is as follow...

• On Purchase of 10 High Capacity Stabilizer , 1 HCS is given Free of Cost.

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1 4 1 24 1 400

I 8000

1 12.5 0 9,000

Gross Total 45,563

Law Capacity Stabilizers 1 20

37}

19-7-2009

Mr. Swayam paid by cheque to Dust Merchants towards Bill dated 8-6-2009. Note : Due to late payment ( 11 days),Mr. Swayam has to pay Interest (applicable at the

rate of 10% per annum) in addition to the Bill amount. 38}

20-7-2009

Mr. Swayam introduced a Sale Offer and sold the following items on Cred it to Me Trad ing Company and You Tech Services.

Item Sold Qty . Free Tota l Qt y.

Rote Value Output

VAT Total Amt ME TRADING CONiANY H igh Capacity Stabilizers 20 2 22 750 15,000 12.5% 16,875 Law Capacity Stabilizers 5 1 6 450 2250 12.5 o 2,531 Gross Total 19,406 YOU TECH SERVICES High Capacity Stabilizers 30 3 33 750 22500 12.5 25,312 Law Capacity Stabilizers 15 3 18 450 6750 12.5 7,594 Gross Total 32,906 39} 22-7-2009

Mr. Swayam received a cheque from Me Trading Company and You Tech Services in settlement of bills dated 20-7-2009 .

40)

28-7-2009

Mr. Swayam rece ived cheque from You Tech Services towards the bill dated 29-6-2009

Page : 21 SWAYAM

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Name of Expenses Amount {Rs.)

Advertisement Expenses incurred 1500 Conveyance Expenses of market ing executives 600 Donat ion to Charitable Trust. 600 Shop Maintenance Expenses 550

Electricity Expenses 500

41)

29-7-2009

Mr. Swayam rece ived the statement of Expenditure from the Petty Cashier for

the month end , July 2009. the Statement is as follows :

42 ) 31-7-2009 VAT Adjustment Entry. Bank Reconciliation

This is a route procedure of systematica lly adjust ing the account balance reported by a Bank with the account balance on the company's books and explain ing any differences . Differences can occur if deposits are not yet cleared or cheques are not yet presented .

Bank Statement for the per iod 1-4-2009 to 4-8-2009 send to Swayam Agenc ies from ICICI Bank is as follows...

Date PARTICULARS DEPOSIT

S Withdraw als BALAN CE 2-4-2009 Ch. No-187962 depsited (Mr. Swayam Satpathy Capital) 15,00,000 15.00,000 3-4-2009 Ch. No- 123451 (Cash withdrawn) 50,000 14,45,000 8 -4-2009

Ch. No- 123452 (Furniture and Fixture)

1,50,000 13,00,000

10-4-2009

Ch. No- 123453 (As Security Deposit)

25,000 12,75,000

13-4-2009

Ch. No- 123454 (For Asset Purchased)

75,500 11,99,500

2-5-2009

Ch. No- 123455 (Salaly Paid) 6.900 11.92.600

6-5-2009

Ch. No- 123456 (Rent Paid) 3,500 11,89,100

19-5-2006

Ch. No- 123457 (Issued to A2Z

Traders)

3,96,500 7,92,600

4-S-2009

Ch. No- 123458 (Cash withdrawn

for Petty Cash) 11,000 7,81,600

7-S-2009

Ch. No- 123459 (Salary Paid) 11,500 7,70, 100

20-6-2009

Cash (cash deposited) 40,000 8, 10,100

4-7-2009

Ch. No- 123460 (Salary paid) 11.000 7,99. 100

17-7-2009

Ch. No- 123461 (Purchase made) 45,563 7,53,537 1-

8-2009

Ch. No- 123462 (Issued to Dust Merchants)

6,47,395 1,06, 142

3-8-2009

Cheque deposited ( Me Trading Company)

52,312 1,58,454

4-8-2009

Cheque deposited (You Tech Services)

61,875 2,20,329

To reconci l e all transactions relating to

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Untiled Notes Page 27 43}

5-8-2009

AUGUST 2009

Mr. Swayam paid Salaries by cheque for July 2009.

Note : Adjust the Salary Advance of Rs. 500 (2 nd Installment) given lo Mr. Jairam Sengupta .

44) 8-8-2009

Mr. Swayam paid Rent in cash for July 2009. 45)

10-8-2009

M r. Swayam paid Rs. 7,500 in cash to the petty cashier .

46)

12-8-2009

Mr. Swayam sold the following items to Help Trad ing Corporat ion and allowed a trade discount at the rate of 5'Yo

Item Quant ity Rate Disc . Value Output VAT Total H igh Capacity Stabilizers 90 900 5% 76 ,950 12.5% 86,569 47) 27-8-2009

Mr. Swayam received cheque from Seacreast Trading Corporat ion towards the bill dated 12-8- 2009.

48}

28-8-2009

Mr. Swayam received a cheque from Me Trading Company towards the bill dated 12-6-2008 and also the interest for 32 days.

49)

29-8-2009

Mr. Swayam received the statement of expenditure from Petty Cashier for the month end 31-8- 2009. The statement is as follows :

Name of Expenses Amount

(Rs .)

Cell Phone Bill paid 800 Conveyance Expenses of market ing

executives 600 Shop Maintenance Expenses 400 Electricity Expenses 350 50}

31-8-2009

VAT Adjustment Entry.

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4-9-2009

SEPTEMBER 2009

Mr. Swayam paid Salaries and Rent by cheque for August 2009.

Note : Adjust the Salary Advance of Rs.500 ( 3 rd installment) given lo Mr.Jairam Sengupta.

52) 6-9-2009 Mr.Swayam urch ase t e lol

owing tems f rom A2Z Traders on re 1t.

Item _Quanti ty Rat e Value _Input VAT Total Law Capacity Stabilizers 110 50 0 55,00 0 12.5'Yo 61,875 Submersible Pumps ₅₀ ₂₁₀ 0 1,05,0 00 4'Yo 1,09,200 Gross Total 1,71,075 53) 10-9-2009

Mr. Swayam Sold the following Items to You Tech Services and drew a Bill of exchange for 30 days

W h.ICh was dulIy acceptedb1yth em.

Item Quanti

ty

Rate Value Output VAT Total Law Capacity Stabilizers 100 550 55,000 12.5% 61,875 Submersible Pumps 50 2500 125000 4% 130000 Gross Total 1,91,875 54) 15-9-2009

Mr. Swayam withdrew Rs.6,000 from ICICI Bank for personal use. 55)

17-9-2009

Mr. Swayam S0Id the f oIIowing items on cred'1t of 45

days to Me Trad'mg Corporat1on .

Item Quanti

ty

Rate Value Output VAT Total High Capacity Stabilizers 80 700 56,00 0 12.5% 63,000 Submersible Pumps ₆₀ _{2300 13800} 0 4'Yo 143520 Gross Total 2,06,520 56) 22-9-2009

Mr. Swayam returned 10 Low Capacity Stabilizers to A2Z Traders purchased on 6-9-2009 as they were not according to the specifications .

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Page : 24 _SWAYAM

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28-9-2009

Mr. Swayam received the statement of expenditure from Petty Cashier for the month-end , 30-9- 2009 . The Statement is as follows:

Nome of Expenses Amou

nt Conveyance Expenses of Marketing Execut ives

600 Shop Maintenance Expenses ₅₅₀

58)

29-9-2009

Mr. Swayam received Bank Statement from ICICI Bank and found that Rs.550 had been charged as half yearly Bank Charges.

59) 30-9-2009 VAT adjustment entry. 60 ) 1-10-2009 OCTOBER'2009

Me Trading Company returned the following items , out of sales made on 17-9-2009 , as they were in excess of its requirements .

Item Quantit

y Rote Value Output VAT Total Hiqh Capacity Stabilizers 15 700 10500 12.5% 11,813 Submersible Pumps 10 230 0 23000 4% 23,920 Gross Total 35,733 61} 3-10-2009

Mr. Swayam issued a cheque of Rs. 7,500 to Petty Cashier . 62}

4-10-2009

Mr. Swayam paid Salaries and Rent of Shop by cheque for September 2009. Note : Adjust the Salary Advance of Rs. 500 ( 41h Installment ) given lo Mr.Jairam Sengupta .

63}

10-10-2009

Mr. Swayam deposited the Bills Rece ivable drawn on You Tech Services which was duly honored .

64}

20-10-2009

Mr. Swayam soId the f oIIowing

items to HeI J Trad.ing Corporat 1on on ere 1t.

Item I

Quantity

Rote I Value I Output VAT _Total Open Well Pumps I 200 1900 I 3,8o ,ooo l 4 o 3,95,20

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Gross Total

3,95,200

Page : 25 _SWAYAM

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Name of Expenses Amount (Rs .)

Conveyance Expenses of Marketing Executives 600

Cell Phone Bill 1500

65)

21-10-2009

Mr. Swayam issued a cheque to A2Z Traders towards the purchase made on 6-9-2009

66}

28-10-2009

Mr. Swayam received a cheque from Me Trading Company against Sales made on 17-9-2009.

67}

29-10-2009

Mr. Swayam received the statement of expenditure from the Petty Cashier for the month end ,

October 2009. The Statement is as follows :

68 } 31-10-2009 VAT adjustment entry. 69 } 4-11-2009 NOVEMBER' 2009

Mr. Swayam paid Salaries and Rent by cheque for October 2009. 70}

5-11-2009

Mr. Swayam issued a cheque of Rs. 8,000 to the Petty Cashier. 71) 10-11-2009 Mr. Swayam received a cheque 10-2009. 72 } 12-11-2009

from Help Trad ing Corporation in settlement of his bill dated 20-

Mr. Swayam started Trad'mg in a New Product and pure hased 'Iff rom D'1rty Enterpr1ses on eredit.

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Untiled Notes Page 34 www.Tally9Book. Com Electric Heater I 30 I 400 1 12,000 1 12.5 0 13,50 0 Gross Total 13,5 00 74) 14-11-2009

Mr. Swayam paid Rs.4 ,500 by cheque for the cell phone he purchased for his Sales Executive .

Page : 26 _SWAYAM

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15-11-2009

Mr. Swayam S0Id the f oIIowing items to HelIp Trad'mg Corporat1on on ere

1t.

Item Quantity Rote V alue Output

VAT Total

Open Well Pumps 50 180

0

90,000 4% 93,600

Gross Total 96,600

Note : Mr. Swayam asks lhe accountant to create a voucher class ·Sales@ 4%" and record

the Sales in a Sales Voucher.

Using voucher class eliminates lhe process of manually entering accounting details. Applicable VAT is also displayed

automatically.

76}

29-11-2009

Mr. Swayam received the statement of expenditure from the Petty

Cashier for November 2009. The Statement is as follows :

Nome of Expenses A mount (Rs.)

Conveyance Expenses of Marketing

Execut ives 600

77 ) 30-11-2009 VAT adjustment entry. 78 ) 4-12-2009 DECEMBER '2009

Mr. Swayam paid Salaries and Rent by cheque for November 2009.

79)

8-12-2009

Mr. Swayam settled the bill dated 12-11-2009 of Dirty Enterprises by

cheque.

80}

10-12-2009

Mr. Swayam withdrew Rs.10,000 from the Bank for personal use.

81}

17-12-2009

Mr. Swayam received a cheque from Help Trading Corporation in

settlement of bill dated

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Untiled Notes Page 36 www.Tally9Book. Com 75) 15-11-2009 82} 18-12-2009

Mr. Swayam Sold the following items for cash in an exhibition organized by

V-Guard company.

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19-12-2009

Mr. Swayam paid Rs. 2500 in cash for the space provided in the exhibition .

84}

29-12-2009

Mr. Swayam received the statement of expenditure from the Petty Cashier for December 2009.

The Statement is as follows :

Nome of Expenses Amount (Rs .)

Conveyance Expenses of Marketing Executi ves

600 Shop Maintenance Expenses 450

85}

31-12-2009

86}

31-12-2009

Provision entry to transfer ba lance from VAT Adjustment account to VAT Payable account.

JANUARY' 2010 87}

1-1-2010

Mr. Swayam paid Salaries and Rent by cheque for December 2009. 88}

2-1-2010

Mr. Swayam deposited Rs. 1,20,000 cash i n ICICI Bank 89}

5-1-2010

Mr. Swayam paid VAT due for December 2009 by cheque. 90}

8-1-2010

Mr. Swayam pure hased the f oIIowing items on ere 1t rom NeXT Serv1ces . or·1ssa. Item Quant ity Rote V alue Input VAT Total Submersible Pumps 50 1800 90,00 C 4% 93,600 91} 12-1-2010

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Mr. Swayam decides to have a price list for his customers. The price levels were decided on the basis of old and new customers and also the volume of items purchased by them .

Page: 28 _SWAYAM

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Name of Expenses Amount (Rs.)

Cell Phone Bill paid 800

Conveyance Expenses of marketing executives 500

PRICE LIST FOR OLD CUSTOMERS

Items 0-20 Dis c. 20-SO Disc . SO-above Dis c.

High Capacity Stabilizers 850 Nil 850 5% 850 7%

Open Well Pumps 1600 2% 1600 5% 1600 6% PRICE LIST FOR NEW CUSTOMERS

Items 0-20 Dis c. 20-SO Dis c. SO-above Dis c. Submersible Pumps 2500 Nil 2500 4% 2500 8%

92} 14-1-2010

Mr. Swayam S0Id the f oIIowing items to S"1mpI1 e TouchTraders.

Item Quanti ty Rat e Dis c . Valu e Output VAT Total Submersible Pumps 30 250

0 4'Yo 72,0 0 4% 74,880 93} 15-1-2010

Mr. Swayam withdrew Rs. 13,000 from ICICI Bank for persona luse. 94)

20-1-2010

Mr. Swayam withdrew Capital of Rs.5,00,000 from the firm by cheque. 95)

25-1-2010

Mr. Swayam received a cheque from Simple Touch Traders for Sales made on 14-1-2010.

96) 30-1-2010

Mr. Swayam received the statement of expenditure from the Petty Cashier for January 2010. The Statement is as follows :

97} 31-1-2010

VAT Adjustment Entry. 98}

31-1-2010

Provision entry to transfer balance from VAT adjustment account to VAT Payable account .

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3-2-2010

FEBRUARY'2010

Mr. Swayam paid VAT due for the month of January 2010 by cheque. 100}

4-2-2010

Mr. Swayam paid Salaries and Rent by cheque for January 2010.

101} 8-2-2010

Mr. Swayam purchased the following items from Dust Merchants . Dust Merchants drew a bill of

exchanqe wh ich was acceptedb1yMr. swa am.

Item Quantit

y

Rote Value Input VAT Total Hiqh Capacity Stabilizers 50 500 25,0 00 12.5':.'o 28 ,125 Open We ll Pumps 30 1500 45.00 0 4% 46,800 Gross Total 74,925 102} 12-2-2010

Mr. Swayam soId the f oIIowing items to Me Trad.ing Company on ere 1t.

Item Quantit

y Rote Disc. Value Output VA1 Total High Capacity Stabilizers 30 850 5':.'o 24,225 12.5% 27,253 Submersible Pumps 40 160 0 5':.o' 60,800 4% 63,232 Gross Total 90.485 103} 14-2-2010

Mr. Swayam pure hasedtheflolow1nq items f rom C eon Information Systems, H1y1derabad on cred it.

Item Quantity Rote Value Input

CSl

Total Law Capacity Stabilizers 50 450 22 ,500 4% 23,400 104)

15-2-2009

M r. Swayam withdrew Rs.5,000 from bank for personal use.

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18-2-2010

Mr. Swayam purchased the following items from Dirty Enterprises on credit. Item IQuantity I Rote I Value I Input

VAT Total

Submersible Pumps I 30 I 2200 I 66,ooo I 4 o 68,640

Gross Total 68,640

106} 25-2-2010

Mr. Swayam sold the following items to Mumbai Ugly Trading Corporation (Govt.Dept.) on credit.

Item I Quantity I Rote I

Volue Input _VAT Total

Submersible Pumps I 40 I 2500 1 1.00.000 4% 1,04,00 0 Gros: 1,04,00 0

Note : CST is exempted if the sale is made to government depar tmen t. 107)

27-2-2010

Mr. Swayam received the statement of expenditure from the petty cashier for the month end ,

February 2010. The statement is as follows :

Nome of Expenses Amount (Rs.)

Cell Phone Bill paid 1300

Conveyance Expenses of market ing executives

Electricity Expenses 450 108) 28-2-2010 VAT Adjustment Entry. 109} MARCH' 2010

Mr. Swayam paid Salaries and Rent by cheque for February 2010. 110)

10-3-2010

Mr. Swayam honored the bills payab l e which was drawn by Dust Merchants by issuing a cheque .

lll} 15-3-2010

Mr. Swayam sold the following items on credit to Faithful Traders ,

Kerala. Item Quon tit Rot e Output CST Total

High Capacity Stabilizers 30 850 4% 25,50

0

Open well Pumps 50 155

0

4% 77,50

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105) 18-2-2010

Mr. Swayam purchased the following items from Dirty Enterprises on credit.

Page : 31 SWAYAM

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112)

18-3-2010

Mr. Swayam S0Id the f oIIowing items to HelIp Trad'mg Corporat1on on ere 1t.

Item Quantit y Rat e Value Input VAT Total High Capacity Stabilizers 5 95 0 4750 12.5'Yo 5343 Law Capacity Stabilizers 15 75 0 11250 12.5'Yo 12657 Gross Total 18,000 113)

Mr. Swayam withdrew Rs.5,000 from bank for personal use. 114)

30-3-2010

Mr. Swayam received the statement from the petty cashier for March 2010 . The Statement is as follows :

Name of Expenses Amount (Rs

.)

Cell Phone Bill paid ₁₈₀₀

Conveyance Expenses of marketing executives

115) 31-3-2010

116) 31-3-2010

Provision entry to transfer ba lance from VAT adjustment account to VAT Payable account.

Provision Entries

All Provision entries are depicted using a Journal voucher.

Note : Provision Entries , Depreciation Entries and Adjustment Entries are all recorded on 31-3- 2010.

1)

Shop Rent for March 2010. 2)

Salaries for March 2010.

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112)

18-3-2010

Mr. Swayam S0Id the f oIIowing items to HelIp Trad'mg Corporat1on on ere 1t.

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Electricity Bill charges for March 2010 is Rs. 350

Depreciation Entries :

Sl. N Asset name Value to be Depreciate d Date of Purchas e Rate of Depreciatio n Depreciation For 2009-201O 1. Cell Phone-1 5,500 10-4 -2009 15% 825 2. Cell Phone-2 4,500 14-1 1-2009 7.5% 338 3. Computer 25,000 10-4 -2009 60% 15,000 4. Electrical Fittings 5,000 10 -4-2009 10% 500

5. Furniture & Fixture 1,50,000 5-4-2009

10% 15,000

6. Motor Vehicle 40,000 10-4

-2009

15% 6,000

37,663 Adjustment Entries for Prepaid Expenses :

All AdIJ' Ustment entries are dep.icted using a Journa vouc her.

Nature Payment Date Period Of Insurance Amo u Prepaid Period Prep a Amo u Amount for Current Year Insuran ce 28-6 -2009 1-4-2009 to 30-6-2010 2,40 0 1-4-2009 to 30-6-2010 600 1,800

Other Adjustment Entries 1)

Transfer balance of withdrawals account to Mr. Swayom Satpathy Calcutta account.

Closing Entries :

1)

Transfer of Profit and Loss account to Mr. Swayam Satpathy capital account.

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PRACTICAL EXERCISES" 2 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 Na me Mailing Name Address E-mail Address Use Indian VAT Applicable From VATTin

Local Sales Tax Number Inter-State Sales Tax Number Income Tax Number Currency Symbol Maintain Financi al Year

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www.Tally9Book. Com from Books beginning from TallyVault Password Use Security Control Swayam Agencies Pvt. ltd. Swayam Agencies Pvt. ltd. At: Janpath, Bhunaneswar, Orissa, INDIA PIN:754001 swayam [email protected] Yes 01.04.2008 11111111 111 This field is

automatically skipped. 555555 55 ABCDE 1111A R s Accounts with Inventory 01-04-2008 01-04-2008

Skip the field (Leave blank)

N o

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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

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Untiled Notes Page37

Revenue

Expenses

Sales@ 12.5 per cent Sales

Accounts

Sales @ 4 per cent Sales

Accounts

Sales - CST Sales

Accounts

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

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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. = · ifiif · flj £W.encl!S 4ieh$i x

The Complete Voucher Creation Screen displays as shown :

(al/as) : Bank Payment I Type or Voucher Abbr Gene r al . Pd yme nt : BK-PMT

Print afte1 saving Voucher ? No Nome of Class Melhod of Voucher Numbering ? Autom atic Use Advance Configuration ? Yes Use EFFECTIVE Dales for

Vouchers ?

Make 'Oplional' as defaul1

? No Use Comrnon Nanation

?

Yes

Na11a1ions for each enlry ? No ltert1t1on Secondil Starting Nurrber w1atn or NumencalPan

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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 Fr om 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

Cur &I : 15,00.000.00 Ct

Narration: 15.00.000.00

Ch.No. :187962 being cheque deposited in ICICIBani\.

Acc@pt '? Yes •r No

C clll tor ODBC Server

-2) 3-4-2009

M r. Swayam withdrew Rs.50,000 cheque for Shop Expenditure from ICICI Bank . ( Cheque No- 123451)

Step 1:

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, • "" " lioolf l•U l'l..'I l'·''"" ,.•.!··... x

"" No.1 3-Apr-2008 _T_h_urs_d_ay

Account · Cash

Cur Bal . 50,000.00 D r

Parti cul ars Amou

nt ICICIB:ink 50,000.00 Cw &/ . 14,50,000.00 Dr Narration: 50.000.0 0

Ch. No. 12345 1 being cash withdrawn ror Shop Expenditure.

.:.11cul:ito1 ODBC

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Untiled Notes Page41 www.Tally9Book. Com Page : 5 www.Tallv9Book.com Accept ? Yes o No SWAYAM

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