Basic tally notes

tally Notes Provided By Digital Solution Network

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Basic Tally Notes ,Tally Notes For Beginners
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Basic Tally Notes


Before Working With Tally, You Have To Understand
The Following Chapter. ------↓

1. Theoretical And Principles Of Accounting.
2. Practical Accounting.
3. Computerized Accounting.


1. Theoretical And Principles Of Accounting:-

Theoretical And Principles Of Accounting, Which We Have
Learned In Higher. Secondary (Commerce And B.Com Level)

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Against Any Transaction We Maintain The Following Methods:-
- Write The Journal Entry.
- Write The Cash Books (If Cash Transaction).
- Write The Bank Books (If Bank Transaction) Or Write Into Bank
Column In Cash Book.
- Write The General Ledger.
- Prepare Trial Balance
↓↓↓↓↓↓↓↓↓↓↓ ↓↓↓↓
↓↓↓↓↓↓↓↓↓↓
Trading, Profit And Loss Account Balance Sheet
(Income And Expense Ledgers) (Assets And Liabilities
Ledgers)

2. Practical Accounting:-

Practical Accounting Is Methods Which Maintain By The
Companies.

Against Any Transaction We Have Maintain The Following
Methods:-

- Write The Voucher Entry.
- Write The Cash Books (If Cash Transaction).
- Write The Bank Books (If Bank Transaction) Or Write Into Bank
Column In Cash Book.
- Write The General Ledger
- Prepare Trial Balance


Trading, Profit And Loss Account Balance Sheet
(Income And Expense Ledgers) (Assets And Liabilities
Ledgers)

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** Extra Register Will Maintain For The Govt. Authorities

Income Tax - Rules And Regulations.
Sales Tax - Sales Tax Register, Return, Challan.
Pf - Pf Register, Return, Challan.
P.Tax - P.Tax Register, Return, Challan.
Esi - Esi Register, Return, Challan.
Service Tax - Return, Challan.
Excise Duty - Return, Challan.

3. Computerized Accounting:

Like As Practical Accounting But Books Of Accounts And
Final Accounts Will Be Maintained By The Computer Itself Or
Automatically:-

- Create Ledgers.
- Input Voucher Entries (Daily Transactions).
- And Books Of Accounts And Final Accounts Will Be
Automatically Maintained By Tally Itself.


Accounts



Books Of Accounts Final Accounts
- Cash Book - Trial Balance
- Bank Book - Trading, Profit & Loss A/c.
- General Ledger - Balance Sheet
- All Registers
(Purchase Register, Sales Register Etc.)

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*** Before Creating Ledgers In Tally Select The Group Carefully.
*** At The Time Of Input The Voucher Entry Select The Appropriate
Mode Of Voucher Entry.

Modes Of Voucher Entries:

- F4 – Contra – Cash Deposited Into Bank And Cash Withdrawn From
Bank.
- F5 – Payment – Cash And Cheque Payment Including Cash And Bank
Purchase.
- F6 – Receipts – Cash And Cheque Received Including Cash And Bank
Sales.
- F7 – Journal – All Non –Cash Transactions (Excluding Credit Sales
And Credit Purchase).
- F8 – Sales – Only Credit Sales.
- F9 – Purchase – Only Credit Purchase.
- Alter + F7 – Stock Journal – Stock Transferred And
Production Entries.

Transactions: (Examples)

1. Business Started With Cash Rs. 1, 00,000/-.
2. Cash Deposited Into Bank Rs. 50000/-
3. Goods (Iron) Purchase For Rs. 52000/- From Xyz And Co.
(Iron 5200 [email protected] Per Kg.)
4. Goods (Iron) Sold For Rs. 80000/- To Abc & Co.
(Iron 4000 Kg. @ 20.00 Per Kg.)
5. Traveling Exp. Paid To Mr. Das For Rs. 800/- By Cash
6. Salary Paid By Cheque To Mr. X For Rs. 9000/-
7. Machinery Purchased By Cash Rs. 25000/-
8. Goods (Iron ) Purchased By Cash For Rs. 10000/-
(Iron [email protected] Per Kg.)

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9. Goods (Iron) Sold By Cheque For Rs. 20000/-
(Iron 1000 Kg. @ 20.00 Per Kg.)
10. Depreciation Written Off @ 10% On Machine.

Solution:-

Journals Group Mode Of
Voucher
Entry
Cash Dr
To Capital
- Cash In Hand
- Capital
F6

Bank Dr
To Cash
- Bank Account
- Cash In Hand
F4
Purchase Dr
To Xyz & Co.
- Purchase Account
- Sundry Creditor
F9
Abc & Co. Dr
To Sales
- Sundry Debtors
- Sales Accounts
F8
Traveling Expenses Dr
To Cash
-
Expenses(Indirect)
- Cash In Hand
F5
Salary Dr
To Bank
-
Expenses(Indirect)
- Bank Account
F5
Machinery Dr
To Cash
- Fixed Assets
- Cash In Hand
F5
Purchase Dr
To Cash
- Purchase
Account
- Cash In Hand
F5
Bank Dr
To Sales
- Bank Account
- Sales Accounts
F6
Depreciation
To Machinery

- Expense
(Indirect)
F7

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** Two Ledgers Will Not Be Created In Tally I.E. Cash Accounts
And Profit And Loss Accounts.Because These Two Ledgers Are
Automatically Created By Tally Itself At The Time Of Creation Of
Company.

- Fixed Assets

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