Tally.

ERP9
Duration: 90 Days
1. Basic concept of accounting
2. Voucher entries
3. Voucher types (Including voucher entry)
4. Final account introduction Only
5. Company creation, alteration etc.
6. Ledger creation (Single & Multiple )
7. Trial balance
8. Balance sheet
9. Voucher entry (Simple)
10. Stock item creation, Group etc.
11. Simple sales purchase invoice entry
12. Manufacturing &stock journal
13. Purchase order processing
14. Sales order processing
15. Tax introduction (Theory)
16. VAT
17. TDS, TCS
18. Actual & Billed Qty., Discount & Price level
19. Cost centers, Budget, BRS
20. Interest calculation & security level
21. Payroll
22. GST
23. Internet use in tally & printing

Noble English Academy, opp. Life Line Hospital, M2 Road, Hudco, Aurangabad. Page 1
 Tally.ERP 9

BY
KRISHNA GROUP

Noble English Academy, opp. Life Line Hospital, M2 Road, Hudco, Aurangabad. Page 2
Basic Concepts of Accounting:
1. Transactions : Any business dealing that involves buying and selling the
value or product may called as a business transaction.

2. Goods : The commodity in which the business person deals is called as goods.

3. Profit : It is the excess of revenue over expenses, during the accounting year.

4. Loss : It is the excess of expenses over revenues, during the accounting year.

5. Assets : Assets means the entire property which possessed by a person or an

organization.

6. Liabilities : It refers to debts or amount due from business to others it may for
money borrowed or for goods or assets purchased on credit.

7. Capital : The total monitory value of everything brought in to business by the

proprietor is called as capital.

8. Drawing : It is the amount withdrawn by the proprietor from business in

cash or goods for personal use.

9. Debtors : In simple words Debtors means consumer. The person who is liable
to pay something for buying the goods or services on credit.

10.Accountancy : The term accountancy is concerned with the formulation of

principles to be followed in recording of business transactions. (Accountancy is
a science)

11.Accounting : The term accounting concern itself with actual recording of

business transactions in accordance with the principles of accountancy.
(accounting is an art)

12.Book keeping : Book keeping is the art of recording , Classifying and

summarising financial transactions and events in a business.

13.Capital Expenditure : It is an expenditure which is incurred to yield a benefit

over a longer period.

Noble English Academy, opp. Life Line Hospital, M2 Road, Hudco, Aurangabad. Page 3
 14.Creditors : Sundry creditors represent amount payable to supplier against
credit purchase. Means the person to whom the organisation is liable to pay
something for buying the goods or services on credit.

15.Revenue Exp. : It is the expenditure the benefit of which is not likely to be

available for more than 1 year.

16.Deferred Revenue Exp. : The expenses which is basically revenue in nature,

but the benefits of which is not exhausted within one year such expenses are
written off the certain number of years.

17.Solvent : A person who is in position to pay of his debts and when they
become due is called as a solvent. It means a person whose assets are more than
his liabilities is called as a solvent.

18.. Insolvent : A person who is not in position to pay of his debts is an Insolvent.
It means his liabilities are more than his assets.

19.Accounting Year : It is the year for which accounts are kept by a proprietor. It
may be a financial year, calendar year, or any other year. In India it begins on
1st April and ends on 31st March.

20.Goodwill : It is an intangible fixed asset having realisable value. It is the cost

of reputation of a business organisation. It is the name established in the market
21.Discount : An allowance in price given by the seller to buyer is known as
‘Discount’.
 Discount may be of two kinds :
a) Cash Discount.
b) Trade Discount.
22.Cash Discount : It is an allowance to the debtors in order to recover the debts
earlier. It is allowed in order to induce the debtors to make the payment
immediately or within a stipulated period.
23.Trade Discount: It is an allowance made by the wholesaler to the retailer in
order to enable the retailer to sell at list prices and to earn a reasonable margin
of profit.
Noble English Academy, opp. Life Line Hospital, M2 Road, Hudco, Aurangabad. Page 4
What is an Account?
An account may be defined as a systematic and summarized record of
transactions pertaining to one person, one property or one head of expenses/losses
or gain.
(An account is given a suitable heading, which may be of the person, property or
an expenses or a gain.)
An account is always divided into two sides. The left hand side is known as
the “Debit” side and the right hand side is known as the “Credit” side.

Name of the ledger

Dr Cr

Date Particulars j/f Amount Date Particulars j/f Amount

(Rs) (Rs)

To, By,

Total (Rs.) Total (Rs.)

Systems of Accounting

There are three Accounting Systems:

1. Indian System.

2. English System.

a. Single Entry Book keeping System.

b. Double Entry Book keeping System.

3. Cash System.

* Now a day’s Double Entry book keeping System is being used all over the world
for Accounting.

Double Entry Book Keeping System:

Noble English Academy, opp. Life Line Hospital, M2 Road, Hudco, Aurangabad. Page 5
 The double entry system of book-keeping is the most satisfactory and a
scientific system of maintaining the accounts of the business.

It is a complete, accurate & perfect system of accounting, which records both the
aspect of each transaction. Every transaction has two

Aspects just as there are two parties to every contract or agreement. There for in
this system there is every debit have correspondent credit & every credit have
correspondent debit.

Classification of Accounts:

• Personal Account

• Natural Personal Account

• Artificial Personal Account

• Representative Personal Account

• Impersonal Account

• Real Account

• Nominal Account

1. Personal Account:These are the accounts of individuals, firms,limited companies,

local authorities with whom the businessman deals, a separate account is
maintained for every person or firms or company. These accounts may be of
Debtors, Creditors and Bankers etc. for recording transactions. These accounts are
treated as “personal Accounts.”

* Generally, personal account is classified into two types.

• Natural Personal Account.

For ex. Ram a/c, sunder a/c, etc.

• Artificial Personal Account.

For Ex. ABC ltd. a/c, SBI a/c, Bajaj auto ltd.

 Representative Personal Account

For Ex. Outstanding Salary, Prepaid Rent etc.

Real Account:These are the account of properties assets or possessions of the

businessperson. These accounts represent the belongings of the businessperson.
Noble English Academy, opp. Life Line Hospital, M2 Road, Hudco, Aurangabad. Page 6
A separate account is maintained for each class, property, or assets.

* Real accounts may assume the following two forms:

A. Tangible real Accounts: These accounts consist of assets and properties which can
be seen, touched, felt, measured purchased and sold.

For ex: Furniture a/c, Building a/c, etc.

B. Intangible real Accounts: These accounts consist of assets and properties, which
cannot be seen, touched, felt but they are capable of measure in terms of money.

For ex: Goodwill, patent, etc.

Nominal Account:These are the accounts of expenses and losses and gains or incomes.
These accounts are called fictitiousaccounts, as they do not represent any tangible assets.
They exist only in name and cannot be seen or touched. A separate account is maintained
for each head of expenses or loss or gain or income.

For ex. Salary a/c, Discount a/c.

Rules of Accounting:

1: Personal Account.

“Debit the Receiver,

Credit the Giver”

2: Real Account.

“Debit what comes in,

Credit what goes out.”

3: Nominal Account.

“Debit all expenses and losses,

Credit all incomes and gains.”

Easy way to learn these Rules.

Noble English Academy, opp. Life Line Hospital, M2 Road, Hudco, Aurangabad. Page 7
 Types of accounts Debit Credit

Personal account The receiver The giver

Real account What comes in What goes out

Nominal account All expenses & losses All incomes & gains

Journal

* Definition of Journal:

The word ‘Journal’ is derived from the French word “Jour” which means a ‘daily
record’.

A Journal is a book of ‘Original entry” or ‘Primary Entry”. It is a book of daily

record. First of all the business transactions are recorded in the Journal and subsequently
they are posted in the Ledger.

To journalise the transactions means to record the two-fold effects of a

transactions in terms of debit and credit. This has to be done by observing the rules of
debit and credit.

Specimen of Journal

In the books of company

For the year/month ----------- ended

Date / Particular L/F Debit Credit

Sr. No.
(AmtRs.) (AmtRs.)

Total (Rs.)

Subsidiary Books

Noble English Academy, opp. Life Line Hospital, M2 Road, Hudco, Aurangabad. Page 8
 It is the need of an hour. As the time is passing away the volume of business is
increasing day by day. So to meet the requirement of modern business, original Journal
Is divided In to different parts and collectively it is called a ‘Subsidiary Book’.

Original Journal Is divided into following:

1. Purchase Book

2. Sales Book

3. Purchase Return Book (Return Outward Book)

4. Sales Return Book (Return Inward Book)

5. Cash Book

6. Bills Receivable Book

7. Bills Payable Book

8. Journal Proper

Assignment No. 1

Noble English Academy, opp. Life Line Hospital, M2 Road, Hudco, Aurangabad. Page 9
  Classify the following accounts :

Sr. No. Particulars Personal A/c Real A/c Nominal A/c

1 Rent a/c
2 Wages a/c
3 Bank a/c
4 Cash
5 ABC partnership firm
6 Goods a/c
7 Salary
8 SBI
9 Printing & Stationery
10 Discount Allowed
11 Discount Received
12 Capital
13 Carriage Inward
14 Outstanding Wages
15 Prepaid insurance
16 Stock
17 Investment
18 Loss of goods by fire
19 Tools
20 Dadar library
21 Repairs to machinery
22 Manager’s salary
23 Copyright
24 Patents
25 Livestock
26 Octroi
27 Audit fees
28 Bad debts
29 Premises
30 Leasehold property
31 Freehold property a/c
32 Debenture a/c
33 Bills receivable a/c
34 Bank commission a/c
35 Income tax a/c
36 Brokerage a/c
37 State govt. securities a/c
38 Loss on machinery a/c
39 Royalty a/c
40 o/s salary a/c

Noble English Academy, opp. Life Line Hospital, M2 Road, Hudco, Aurangabad. Page 10
 Tally ERP 9
Introduction of Tally
Tally is one of the best accounting software, which is continuously growing with
large users in India and Abroad. Tally covering lots of area and loaded with suitable
options to suit various types of industries. There is good potential of tally professionals
even in a small town.
Therefore, every organization needs a hard-core tally professional, to exploit its
full capabilities and functionality to implement tally.
All aspects, which are related with tally software, will be clear like as-
1. First, maintain the company information, which is required by tally.
2. Create and maintain the list of account.

3. Enter the voucher details.

4. Maintain the multiple godawn and stock.

5. Print the information system.

There is a need to store the financial data in one accounting tools of computer.
Moreover, with the help of tally we can computerized financial accounting information
and maintain their accounts.

 Some Information About Tally Screen:-

1. Title Bar:-
At the top of the screen, there is a ‘Title bar ‘Which shows the information
about software & version of Tally.
2. Button Tool Bar:-
At the right hand side of the screen there is a ‘Button Tool Bar ‘, which indicates
the short- cut keys of various vouchers & the option of the Tally.|

3. ODBC Server :- (Open database connectivity server )

At the bottom of the screen there is a calculator, which is called as ODBC
Server,’ we can utilize this option by using ‘control + M key.

4. Gateway of Tally:- [GOT]

Noble English Academy, opp. Life Line Hospital, M2 Road, Hudco, Aurangabad. Page 11
 At the top of the calculator & at the bottom of title bar, there is a screen of
getaway of tally. It shows or indicates the various options by which we can
work; secondary it shows the current company information in which we are
working now. It is also shows the current period of the company.

PRACTICAL: (Company Creation)

 Company Creation:-

G.O.T.

Alt + F3

Company info.

Create company

 Company Alteration:-

G.O.T.

Alt + F3

Company info.

Alter

Select the co. from list

 Shut the company:-

G. O. T.

Alt + F3

Company info.

Shut company

Select the company from list

 Delete the company :-

G. O. T.

Alter + F3

Company Info.

Alter

Noble English Academy, opp. Life Line Hospital, M2 Road, Hudco, Aurangabad. Page 12
 Select the co. from list

Alt + D

Press enter key 2 times

 Select The Company:-

G. O. T.

Alt +F3

Company Info

Select the co.

Chang the Directory name

Select the co. from list

Assignment No.2
Creation of Company

 Create the different Companies in your own Directory

 Reliance Industries Ltd
 Oil and Natural Gas Corporation
 Tata Consultancy Services
 Hindustan Unilever
 Videocon ltd
 Bajaj Ltd
 GDSK Interior and Infrastructure Pvt. Ltd.
 Rucha Engineering Pvt. Ltd.
 Tata Finance Pvt.Ltd.
 Infosys
 Sun Pharma
Noble English Academy, opp. Life Line Hospital, M2 Road, Hudco, Aurangabad. Page 13
 PRACTICAL :(Ledger& Group Creation)
Ledger

Group {28}

Primary {15} Sub groups {13}

Primary group Sub group

1) Capital Account i) Reserve & surplus [ Return- earning]

2) Current Assets i) Bank A/c

ii) Cash In Hand
iii) Deposit [Assets]
iv) Loans in Advances
v) Stock In Hand
vi) Sundry Debtors

3) Current liabilities i) Duties & taxes

ii) Provisions
iii) Sundry creditors
4) Fixed Assets --

5) Investments --

6) Loans [ Liability] i) Bank CC A/c/ Bank OCC A/c

ii) Secured Loans
iii) Unsecured Loans

7) Suspense A/c --

8) Miscellanies expenses (Assets) --

9) Branch & division --

Noble English Academy, opp. Life Line Hospital, M2 Road, Hudco, Aurangabad. Page 14
 10) Sale A/c --

11) Purchase --

12) Direct Income --

13) Indirect Income --

14) Direct Expenses --

15) Indirect Expenses --

 Groups - Accounts Under the

Groups
1) Capital A/c - (i) Equity Share Capital A/c
(ii) Preference Share Capital A/c

2) Reserve & Surpluses (i) General reserve A/c

(ii) Reserve Fund A/c
(iii) Reserve A/c
(iv) FundA/c

* Current Asset: -
1) Bank A/Cs (i) All Bank A/c

2) Cash in hand (i) Cash A/c

(ii) Petty cash A/c

3) Deposits [Asset] (i) All Deposits A/c

(ii) All Term Deposits A/c

4) Loons & Advances [Asset] (i) All prepaid Expenses

5) Stock In Hand (i) Opening Stock

(ii) Closing Stock

6) Sundry Debtors (i) All Debtors A/c

Noble English Academy, opp. Life Line Hospital, M2 Road, Hudco, Aurangabad. Page 15
 * Current liability: -
a) Duties & taxes (i) Central Sales Tax [CST]
(ii) Value Added Tax [VAT]
(iii) Excise Duty
(iv) Custom Duty
(v) Octroi A/c
(vi) Service tax A/c
(vii) Education cessA/c.

b) Provisions All kind of provisions A/c

(i)Provision for taxation
(ii)Provision for Depreciation

c) Sundry Creditors (i) All Creditors A/c

* Fixed Assets - (i) BuildingA/c

(ii)Machinery A/c
(iii)Furniture A/c
(iv)ComputerA/c

* Investment - (i) Investment A/c

(ii)Securities A/c
(iii)Govt. Bonds A/c
(iv)Shares Purchase of other
Company

* Loans [Liabilities] - (i) All Bank Overdraft A/c

[OCC – Over cash Credit]

* Secured loan - (i) Debenture A/c

(ii)Bank loan A/c etc.

* Unsecured loan - (i) Loan from landlords,

(ii)Loan from wife or Relatives.

* Suspense A/c - (i) Suspense A/c

Noble English Academy, opp. Life Line Hospital, M2 Road, Hudco, Aurangabad. Page 16
 * Miscellaneous Exp. (i) Establishment Expenses A/c
(ii) Primary Expenses A/c.

* Branch / Division (i) All Branches Accounts

* Sale A/c - (i) Sale A/c

(ii)Sale @ 4% /@1%/ @12.5%

* PurchaseA/c - (i) Purchase A/c

(ii)Purchase @4% / @1%/@12.5

* Direct Income - (i) Professional Fess A/c

(ii)Consulting Revenue A/c

* Indirect income - (i) Interest Received A/c

(ii) Commission received A/c

(iii)Rent Received A/c

* Direct expenses. - (i) Wages A/c

(ii) Carriage inward A/c
(iii) Fuel A/c. etc

* Indirect expenses - (i) Salary A/c

(ii) Rent A/c
(iii) Taxes A/c
(iv)Depreciation A/c

Note:

* In Tally, we have two predefine Ledger Accounts, which are already been provided,
Because of that, there is no need to create these accounts again. If we want to record
opening balances, we need to go through the alteration process.
1) Cash A/c 2) Profit & Loss A/c

* Even there is no need to prepare opening stock and closing stock account in tally,
because after maintaining the stock, opening and closing balances of stock automatically
displayed.

Noble English Academy, opp. Life Line Hospital, M2 Road, Hudco, Aurangabad. Page 17
 1. Ledger Creation :-
G.O.T.

Account Info

Ledger

Create

2. Creation of Group:-
G.O.T.
Account info
Groups
Create

3. Ledger alteration :-
G.O.T.

Account info

Ledger

Alter

Select the Ledger A/c from list

Enter.
4. Group Alteration :-
G.O.T.
Account Info
Group
Alter
Select the Group from list
Noble English Academy, opp. Life Line Hospital, M2 Road, Hudco, Aurangabad. Page 18
 Enter

5. Delete the Ledger :-

G.O.T.
Account Info
Ledger
Alter
Select the Ledger from list

Enter
Alt + D
Enter

6. Delete the Groups :-

G.O.T.

Account Info

Group

Alter

Select the Group from list

Alt + D (Press Enter key2 times)

Noble English Academy, opp. Life Line Hospital, M2 Road, Hudco, Aurangabad. Page 19
 Assignment No.3
Ledger Creation
Balance Sheet

Balance Sheet as on 31-3-2017

Liabilities Rs. Assets Rs.

Capital 5,00,000 Land & Building 4,50,000

*Bank O.D. Machinery 45,000

Janata Bank 10,000

*Secured Loan *Cash-in-hand

National Finance 1,75,000 Cash A/c 9,000

*Sundry Creditors *Bank A/c

M/s Jagannath Papers 35,000 Dhanlaxmi Bank 21,000
Mr. RaghunathPande 40,000 Bank of India 90,000

Bills Payables 25,000 * Deposits (Assets)

Bankof Maharashtra 1,50,000

Profit & Loss A/c 45,000 *Sundry Debtors

M/s Lokmanyaltd. 60,000
Closing Stock 5,000

8,30,000 8,30,000

Noble English Academy, opp. Life Line Hospital, M2 Road, Hudco, Aurangabad. Page 20
 Assignment No.4
Balance Sheet
as on date 31-3-2015

Liabilities Amount Assets Amount

Capital A/c 5,00,000 Plant & Machinery 2,00,000

Bank Loan 20,000 Building 1,50,000

Other loan taken 10,000 Goodwill 1,00,000

Bank Overdraft 50,000 Motor Car 90,000

Sundry creditors/Suppliers 75,000 Copyrights 15,000

Bills Payable 50,000 Closing stock 50,000

Outstanding Expenses 23,000 Prepaid Expenses 50,000

Sundry Debtor 55,000

Leasehold Premises 18,000

Noble English Academy, opp. Life Line Hospital, M2 Road, Hudco, Aurangabad. Page 21
 7,28,000 7,28,000

Assignment No.5
Rohit Enterprises
The trial balance as on 31st December, 2017

Particulars Rs Particulars Rs.

Purchases 1,25,225 Capital 62,000

Sales returns 4,250 Sales 2,05,000

Sundry debtors 50,200 Purchase returns 3,230

Opening stock 28,788 Commission 245

Wages 20,167 Sundry creditors 31,073

Salaries 13,677 Dividend on investment 825

Furniture 7,450 Reserve for doubtful debts 500

Machines 7,500 Bank overdraft 17,000

Bad debts 315 Outstanding wages 700

Advertisement 3,000

Investments 9,500

Insurance 320

Drawings 4,500

Bank Balance 27,981

Land & Building 15,000

Noble English Academy, opp. Life Line Hospital, M2 Road, Hudco, Aurangabad. Page 22
 Rent 2000

Interest 700

Total 3,20,573 3,20,573

Assignment No.6
Kirti Pvt. Ltd.
Trial Balance as on 31st December, 2016

Debit Balances Rs. Credit Balances Rs.

Opening Stock 22,000 Bills payable 10,000

Sundry debtors 28,000 Returns outwards 2,500

Purchases 40,000 Sundry creditors 21,500

Wages 8,500 Sales 70,000

Salaries 2,700 R.D.D 400

Office expenses 2,445 Capital A/c 90,000

10% Loan (taken on 1st July

Insurance 1,300 3,000
2002)
Plant & Machinery 30,000 Commission 3,000

Rent 1,800 Discount Received 500

Travelling expenses 1,400 Rent received 700

Return inwards 3,500

Land & Building 44,800

Bills Receivable 4,000

Bank Balance 6,655

Furniture 2,400

Noble English Academy, opp. Life Line Hospital, M2 Road, Hudco, Aurangabad. Page 23
 Sundry expenses 800

Bad Debts 600

Advertisement 700

Total 2,01,600 2,01,600

Assignment No.7
Neha Pvt. Ltd.
Trial Balance
as on 31st December 2017
Particulars Amount Particulars Amount

Opening stock 45,000 Sales 1,78,000

Sundry debtors 40,000 Creditors 30,000
Machinery 80,000 Bills Payable 40,000
Bills Receivable 40,000 Loan 76,000
Building 1,40,000 Capital 1,60,000
Purchases 65,000 Discount 5,000

Salaries 13,000 Return outwards 2,000

Wages 16,000
Carriage 2,000
Bad Debts 3,000

Printing Charges 4,000

Office Expenses 2,000

Rent Paid 6,000

Cash in Hand 20,000

Drawings 11,000

Power & Fuel 3,000

Noble English Academy, opp. Life Line Hospital, M2 Road, Hudco, Aurangabad. Page 24
 Return Inward 1,000
4,91,000 4,91,000

PRACTICAL :( Use of Accounting Vouchers)

 Types of vouchers.
Tally is pre - programmed with a variety of accounting Voucher, each one is
designed to perform different job

 The Standard voucher are given below :-

1) Payment Voucher
2) Receipt Voucher
3) Contra Voucher
4) Sales Voucher
5) Purchase Voucher
6) Debit Note
7) Credit Note
8) Journal Voucher
9) Stock Journal

 Some other voucher types Which are Used Rarely:-

1) Sales order
2) Sales voucher/Invoice
3) Delivery Note
4) Rejection In
5) Purchase order
6) Receipt Note
7) Stock Journal
8) Memo Voucher
9) Rejection Out
10) Reversing Journal etc.

 The Function of each voucher Type with explanation:-

a) Contra Voucher:- F4
It is most useful for recording all kinds of transactions those are related with
cash & bank only.

Noble English Academy, opp. Life Line Hospital, M2 Road, Hudco, Aurangabad. Page 25
 b) Payment Voucher :- F5
Payment voucher is mostly use full for payment of creditor or any kinds of
expenses which incurred by company or firm.

c) Receipt Voucher:- F6
Receipt Voucher is mostly useful for Recording all kinds of transactions like
received money from debtors or from any person.

d) Sale Voucher:-F8
This Voucher is mostly useful for recording all the types of sales transactions
may be cash or credit

e) Purchase Voucher:- F9
This Voucher is mostly useful for recording all the types of purchase
transactions it may be cash or credit

f) Journal Voucher:- F7
Those entries are not recording in above voucher, these transactions recorded in
journal voucher

g) Stock Journal: - Alt+ F7.

This voucher is use to record the transfer of material from one location to
another location and to show the consumption of material.

h) Debit Note :- Ctrl + F9

Debit note is useful for recording goods return to party (purchase return /
return outward) because of inferior quality of physical damage etc.

i) Credit Note: - Ctrl + F8

Credit note is useful for recording those goods, which was returned from party
(sales return/return inward) because of some reasons like Breakage or inferior
quality etc.

Note:We should set the configuration for voucher Entry as per our requirement.
So that we can activate only those Features those we require while entering
voucher entry.

Noble English Academy, opp. Life Line Hospital, M2 Road, Hudco, Aurangabad. Page 26
 F12 configuration => Voucher entry.

 Accounts.

(1) Skip date field in create made [faster- entry] => yes.
(2) Use single entry mode for payment /receipt/contra=> No.
(3) Use ‘Dr’ / ‘Cr’. Instead of ‘To’ & ‘By’ during the Entry => yes.
(4) Warn on Negative Cash balance => yes.
(5) Use cash accounts in journal => yes.
(6) Show ledger current balance => Yes.
(7) Show table of Bill details for selection =>yes
(8) Allow cash A/c in journal => yes.

F11 Function key: =>Accounting Features

(i) Integrate accounting & Inventory => Yes
(ii) Allow invoicing => No
(iii) Allow Zero Values entry => Yes

* How to enter Voucher entries

Gateway of tally

Accounting Vouchers.

Noble English Academy, opp. Life Line Hospital, M2 Road, Hudco, Aurangabad. Page 27
 Assignment No.8
Q: Pass the journal entries in respective vouchers:
1-4-2016 :Mr. Rai Paid Postage & Telegram Expenses Rs. 400/- in cash.
4-4-2016 :Mrs. Nilima Paid Rs. 750 towards Office maintenance exp.
6-4-2016 : Issued a cheque to A2z Traders of Rs. 150,000/-
11-4-2016 :Paid salary to Rs. 3,500/-
15-4-2016 :Paid rent to landlord Rs. 1,500/-
17-4-2016 :Purchased one Motor car For cash of Rs. 400,000/-
21-4-2016 :Purchased Furniture of Rs. 60,000/- in cash.
21-4-2016 :Machinery purchased of Rs. 120,000/-in Cash
24-4-2016 :Purchased Furniture of Rs.4,000/-
27-4-2016 :Received Cash from Mr. AniketRs. 10,000/-

Assignment No.9
1-4-2016 : Received Rs. 60,000 by cheque from Alphabet Solutions.
3-4-2016 :Received Rent from Rs. 5,000/-
7-4-2016 :Sold Machinery for cash Rs. 15,000/-
12-4-2016: Sold Air conditioner for cash Rs, 30,000/-
17-4-2016 :Sold Computer for cash Rs. 16,000/-
21-4-2016 :Commenced Business with cash of Rs. 180,000/-
25-4-2016 :Sold Motor Car for cash Rs. 70,000/-
30-4-2016 :Opened Bank A/c. in state bank by depositing Rs. 2,000/-
3-5-2016 :Deposited cash into bank Rs. 3,000/-

Noble English Academy, opp. Life Line Hospital, M2 Road, Hudco, Aurangabad. Page 28
 5-5-2016 :Dilip withdrew Rs. 30,000/- from HDFC bank.
10-5-2016 :Received commission Rs. 2,000/-
15-5-2016 :Miss. Ruchita Received Rs. 35,000/- in cash as a consulting revenue
from shyam

Assignment No.10
20-5-016 :Rahul opened an Account with Bank of India by depositing cash Rs.
3,000/-
22-5-2016: Withdrawal Cash Rs.2000/- from ICICI Bank.
27-5-2016 :Cheque of Maharashtra Bank Rs.5000/- Deposited in Central Bank.
31-5-2016: Cash Rs. 20,000/- deposited in IDBI Bank.
3-6-2016 :Opened a Current Account in Bank of India by depositing Rs.60,000/-
5-6-2016 :Withdrew from Bank Rs.5,000/-
14-6-2016 :Deposit cash into Bank Rs. 30,000/- in SBI Bank.
20-6-2016 :Bought goods from Siva Rs. 72,000/-
24-6-2016 :Purchased Goods From SunitaRs. 32,000/-
27-6-2016: Bought Goods From Amruta of Rs.50,000/-
3-7-2016 :Rahul opened an Account with Bank of India by depositing cash Rs.
3,000/-
4-7-2016: Withdrew cash from business for Personal use Rs.32,000/-
5-7-2016: Withdrew Goods for personal use Rs.41,000/-

Assignment No.11
8-7-2016 :Goods sold To Ram of Rs. 20,000/-
10-7-2016 :Cash sales Rs. 12,400/-
13-7-2016 :Sold Goods to Virat of Rs. 25000/-
17-7-2016 :Sold Goods to Rahim of Rs.23,800/-
26-7-2016 :Sold Goods to Nitin of Rs.12,000/- @ 5% Trade Discount
30-7-2016 :Sold Goods To Minakshi of Rs.20,000/-
2-8-2016 :Goods sold on Credit to Suman of Rs.15,000/-
Noble English Academy, opp. Life Line Hospital, M2 Road, Hudco, Aurangabad. Page 29
 9-8-2016 :Goods Sold to Rina of Rs.60,000/- @10% Trade discount
16-8-2016 :Sold Goods worth Rs.15,000/-
24-8-2016 :Charged Depreciation @10% on Machinery costing Rs.50,000/-
29-8-2016 :ChargedDepreciation @ 15% on Furniture costing Rs.15000/-
30-8-2016 :Create Bad Debts @5% on Sundry Debtors of Rs.25,000/-
Assignment No.12

1-1-2017: Mr. Rushikesh started business with cash Rs.80,000/-

2-1-2017: Purchased goods from Mona Rs.28,000/-

3-1-2017: Deposited cash into Dena Bank Rs.39,000/-

4-1-2017: Sold goods to Nikhil Rs.41,000/-

5-1-2017: Purchased Laptop of Rs.30,000/-

6-1-2017: Paid wages Rs.500

7-1-2017: Paid office rent Rs.2000

8-1-2017: Withdrew from bank for office use Rs.5,000/-

9-1-2017: Salary paid by cheque Rs.7,000/-

10-1-2017: Goods of Rs.20,000/-from Sneha at 5% Trade Discount.

11-1-2017: Withdrew Goods for personal use Rs.35,000/-

12-1-2017: Withdrew cash for personal use RS.10,000/-

19-1-2017 :Purchased Goods worth Rs.30, 000/- for cash less 15% Trade discount.

Noble English Academy, opp. Life Line Hospital, M2 Road, Hudco, Aurangabad. Page 30
 Assignment No.13

1-2-2017: Paid salary to Rs.6000/-

2-2-2017: Sold goods to Mr.Pratik on credit Rs.15,000/-

3-2-2017: Paid house rent Rs.1,500

4-2-2017: Salary paid Rs.5000/- in cash and Rs.10,000/- by cheque.

5-2-2017: Purchased machinery of Rs.30,000/-

6-2-2017: Paid Rs.2000/- as premium on life insurance policy.

7-2-201: Sold goods to Aniket Rs.9000/- at 4% T.D

8-2-2017: Received commission Rs.1000/- by cheque from Rahul

9-2-2017: Purchased stationery Rs.500/-

10-2-2017: Cash sales of Rs.10,000/- at 2% cash discount.

11-2-2017: Withdrew cash for personal use Rs.60,000/-

Noble English Academy, opp. Life Line Hospital, M2 Road, Hudco, Aurangabad. Page 31
 PRACTICAL :( Voucher Type Creation)

Voucher type creation is the functionby which we can simplify the entries of
transactions withdifferent required vouchers. Like Bank payment voucher for separate
bank payment entries and cash payment voucher for separate cash payment entries.

 How to Create Voucher Type.

Gateway of Tally Account info / Inventory info. Voucher type Create

Example: - Name - Bank payment

Type of voucher - payment
Method of vo.\No. - Automatic
Use Adv. Configuration -Yes.
Starting No -‘1’
Prefix Detail - BP/
Suffix detail - /100

Assignment No.14
Q. Create the following voucher types:
a) Bank payment
b) Cash payment
c) Bank receipt
d) Cash receipt
e) Cash Purchase
f) Credit Purchase
g) Cash Sales
h) Credit Sales

Noble English Academy, opp. Life Line Hospital, M2 Road, Hudco, Aurangabad. Page 32
  Pass the following journal entries in respective voucher type :-

1-9-2016 :Purchase stationery of Rs. 4,000/- by cash.

4-9-2016 :Received Rs. 10000/- from CNN India by Bank.
12-9-2016 :Received other cheque from Indian Electronics of Rs.40,000/-.
14-9-2016 :Cash paid to IBN Rs 3,750 & allot the Cheque to Nath co. of
Rs.50,000/-
15-9-2016: Purchase new material from InfoTech of Rs. 20,000/- on Credit.
20-9-2016 :Goods purchase for cash Rs.20,000/-
21-9-2016 :Goods sold to Babita on credit of Rs.15,000/-
23-9-2016 :Goods purchase on credit of Rs12,000/- from Mahesh.
25-9-2016 :Goods sold For cash Rs.36,000/-
27-9-2016 :Received Rs.3000/- cash from Neelam.
28-9-2016: opened a bank A/c with HDFC bank by deposting cash Rs.50,000/-
29-9-2016: Purchase goods from Rohit Rs.26,000/-
30-9-2016: Paid Rs.10,000/- as salary in cash.

Assignment no.15

1-10-2016: Goods purchased from Nisha Rs.15,000/-

2-10-2016: Gave a cheque for Rs.15,000 to Nisha./-

3-10-2016: Receive cheque form sonali traders of Rs.15,000/-

4-10-2016: paid for repairs to machinery Rs.4,000/-

5-10-2016: paid house rent Rs.10,000/-

6-10-2016: Paid income tax Rs.3,000/-

7-10-2016: Received commission Rs.5,000/-

Noble English Academy, opp. Life Line Hospital, M2 Road, Hudco, Aurangabad. Page 33
 8-10-2016: Paid tuition fees in cash Rs.500/-

9-10-2016: Sold goods to ajay for cash for Rs. 20,000/-

10-10-2016: Paid life insurance premium Rs.15,000/-

11-10-2016: Purchased goods from Minakshi traders for 7,000/-

12-10-2016: Received interest in cash Rs.10,000/-

15-10-2016: Receive Rs.20,000/- from Anjali.

Noble English Academy, opp. Life Line Hospital, M2 Road, Hudco, Aurangabad. Page 34
  PRACTICAL( stock Item Creation)

This option is useful for maintaining the stock details & keep the records of stock
items. By using this option, we can achieve the different kinds of goal.

1) When we should place the purchase order?

2) How much stock we have with our company, on the different location or in
godawn?
3) It is useful to know inflow & outflow summary of stock.
4) It can also helpful to make the record of different items with the different
categories.

 Path of Creation / Maintaining Stock

* F11 Function key Company features Accounting features.

(1)Integrate Account & inventory =>yes.

(2)Maintains Bill - wise details => yes

* F11 Function key Company Features Inventory Features

(1) Maintain multiple godown => Yes

(2) Maintain Stock Category => Yes.

 Path To Create Stock Item

1) Stock Group Creation

Gateway of tally Inventory Info. Stock group Create.

2) Stock category creation.

Gateway of tally Inventory info Stock category Create.

3) Units of measures creation.

Gateway of tally Inventory info Units of measure Create.

Noble English Academy, opp. Life Line Hospital, M2 Road, Hudco, Aurangabad. Page 35
 4) Path of creation of godawn
Gateway of Tally Inventory Info Stock items Create.

Assignment No.16
Stock Item Creation
Stock Group Stock Godawn Unit of Quantity Rate Amount
items measure
Hardware C. P. U. Waluj Pc’s 10 4000 40000

Hardware R.O. M. Cidco G.B 10 1000 10000

Software Tally 9.5 Waluj C.D 10 5000 50000

Software Ex N G N Waluj C.D 10 4000 40000

Hardware Ruben Cidco M.I.R 50 30 1500

Ink
Hardware C. D. Waluj Pc’s 10 2000 20000
Drive
Hardware Key Waluj Pc’s 10 1000 10000
Board
Hardware Mouse Waluj Pc’s 10 300 3000

Hardware Sounds Cidco Pc’s 51 500 25500

TOTAL 200000
Assignment No.17
Stock Group Stock category Stock items Godawn Unit of Qty Rate Amount
measure
Sony TV 25 Inches Tv Sony 25 Inches Tv Shendra Nos 50 25,000 12,50,000

S Sony TV 29 Inches Tv Sony 29 Inches Tv Shendra Nos 40 35,000 14,00,000

Philips TV 25 Inches Tv- Philips 25 Inches Chikalthana Nos 30 22,000 6,60,000

Tv
Philips TV 29 Inches Tv Philips29 Inches Shendra Nos 60 33,000 19,80,000
Tv
Videocon 25 Inches Tv Videocon 25 Chikalthana Nos 50 27,000 13,50,000
TV Inches Tv
Samsung TV 29 Inches Tv Samsung 29 Inches Shendra Nos 40 37,000 14,80,000
Tv

Noble English Academy, opp. Life Line Hospital, M2 Road, Hudco, Aurangabad. Page 36
LG TV 25 Inches Tv LG 25 Inches Tv Chikalthana Nos 30 26,000 7,80,000

LG TV 29 Inches Tv 29 Inches Tv Shendra Nos 40 38,000 15,20,000

Total 1,04,20,0
00

Assignment No.18

Stock Stock Item Godawn Unit of Rate Amount

Group Measure Quantity

Samsung Samsung J2 Hudco Pc’s 20 18,000 3,60,000

Mobile
Samsung Samsung J5 Waluj Pc’s 25 20,000 5,00,000
Mobile
Samsung Samsung J7 Hudco Pc’s 15 22,000 3,30,000
Mobile
Sony Sony Xperia Waluj Pc’s 30 37,000 11,10,000
Mobile
Sony Sony Altra Hudco Pc’s 10 30,000 3,00,000
Mobile
Vivo Vivo Mobile Waluj Pc’s 17 19,000 3,23,000
Mobile
Oppo Oppo Mobile Hudco Pc’s 20 35,000 7,00,000
Mobile
Redmi Redmi Note4 Waluj Pc’s 25 15,000 3,75,000
Mobile

Noble English Academy, opp. Life Line Hospital, M2 Road, Hudco, Aurangabad. Page 37
  PRACTICALSimple Sale and Purchase Invoice Entries

*Options needs to Activate:-

 Gateway of Tally --- F11 Company Features ---

Inventory Features:
1. Integrate Account and Inventories – Yes
2. Allow Zero Valued Entries – Yes
3. Allow Invoicing –Yes
4. Enter Purchase in invoice format- Yes
5. Use Debit and Credit Note – Yes
6. Use Invoice mode for Debit and credit note – Yes

Noble English Academy, opp. Life Line Hospital, M2 Road, Hudco, Aurangabad. Page 38
 Assignment No.19
1-10-2016S: Purchased goods from 'Priti' for cash Rs. 27,500/- (10 Jackets @
Rs.350 each, 20 Kurtas @ Rs.600 each, 30 Jeans @ Rs.400 each, stock kept at
Showroom).

2-10-2016 : Sold goods to Sachinfor cash Rs.26, 500/- ( 5 Jackets @ Rs. 500 each,
15 Kurtas @ Rs. 800 each, 20 Jeans @ Rs.600 each).

5-10-2016: Purchased Goods from Dinkar on Credit Rs.3,000/- ( 10 Trousers @

Rs.300 each, Stock kept at Showroom).

7-10-2016:Sold goods to Hitesh on Credit Rs.11,500/- (3 Jackets @ Rs.500 each, 5

Kurtas, @ Rs.800 each, 5 Jeans @ Rs.600, 6 Trousers @ Rs. 500 each).

10-10-2016: Purchased goods from Vrushali on credit.Rs.25,500/- ( 30 Jackets @

Rs.300 each, 20 Kurtas @Rs.700 each, and 10 Trousers @ Rs.250 each).

13-10-2016 : Sold goods to Akhilesh on Credit – 20,350/- (20 Jackets @ Rs.400

each,15T- Kurtas @ Rs. 800 each, 1 Trouser @ Rs.350 each

15-10-2016: Purchase goods from Stylo Furniture for Cash Rs.3,87,500 ( 10 sofa
set @ 35,000, 15 Tipoy@ 2,500/-)
20-10-2016: Purchased Goods From Hiren Co. Ltd ofRs.25000/-, (5 Monitors of
Rs. 5000 each)

22-10-2016: Sold goods to Rahul on Credit – of Rs. 28000/- ( 4 Monitors of Rs.

7000 Each)

23-10-2016: Sold Goods To Mitali for cash of Rs. 8000/- ( 1 Monitor @ Rs,
8000/-).

Noble English Academy, opp. Life Line Hospital, M2 Road, Hudco, Aurangabad. Page 39
 24-10-2016: Purchase 50 pc’s of P4 computer from Intel India on credit of Rs.
7,500 for each P4 computer.[bill no : Intel / 431001]

Assignment No.20
1-1-2017: Purchased goods from sonali traders for cash Rs.31,500/- (10 Jeans @
Rs.1,000 each, 15 Tops @ Rs.500 each, 20 Shoes @ Rs.700 each).

2-1-2017: Sold furniture to Nilesh on Credit Rs.20,000/- (5 Table @ Rs.4,000

each).

3-1-2017: Purchased LG Laptop from Telco Ltd. Rs.1,40,000/- (2 Laptop @

Rs.70,000 each).

4-1-2017: Purchased washing mahines from Videocon Ltd. Rs.1,20,000/- (3

washing machine @ Rs.40,000 each).

5-1-2017: Purchased goods from Snehal for cash Rs.50,000/- (10 T-shirts @
Rs.500 each,15 jeans @ Rs.1,000 each, 25 Kurtas@ Rs.1000 each,5Trouser @
Rs.1000 each).

6-1-2017: Purchased furniture from ABC Ltd.Rs.2,50,000/- (10 sofa set @

Rs.25,000 each).

7-1-2017: Sold Lenovo computer to pradip Rs,7,00,000/- (10 computer @

Rs70,000 each).

8-1-2017: Sold mobile phones to Mr.Patil RS.1,00,000/- (5 Vivo mobiles @

Rs.20,,000 each).

9-1-2017: Purchased goods from swati for cash Rs.50,000/- (20 Jackets @
RS.1000 each, 10 Jeans @ RS.2,000 each, 50 T-shirts RS.400 each).

Noble English Academy, opp. Life Line Hospital, M2 Road, Hudco, Aurangabad. Page 40
  PRACTICAL :: Tax introduction
What is Tax?
Tax in general, is the imposition of financial charges upon an individual or a company by
the Government of India or their respective state or similar other functional equivalents
in a state. The computation and imposition of the varied taxes prevalent in the country
are carried on by the Ministry of Finance’s Department of Revenue.

DIFFERENT TYPES OF TAXES

Taxes are classified under two categories namely direct and indirect taxes. The largest
difference between these taxes is their implementation. Direct taxes are paid by the
assessee while indirect taxes are levied on goods and services.

DIRECT TAXES

o It is names so because it is directly paid to the Union Government of India.

The visible growth in these tax collections as well as the rate of taxes
reflects a healthy economicalgrowth of India. Direct taxes are levied on
individuals and corporate entities and cannot be transferred to others. These
include income tax, wealth tax, and gift tax. Some of the examples are..

 Corporate Tax
 Capital Gains Tax
 Securities Transaction Tax
 Personal Income Tax

INDIRECT TAXES
As opposed to the direct taxes, such a tax in the nation is generally levied on some
specified services or some particular goods. An indirect tax is not levied on any
particular organisation or an individual.

Noble English Academy, opp. Life Line Hospital, M2 Road, Hudco, Aurangabad. Page 41
Usually, the indirect taxation in the Indian Republic is a complex procedure that involves
laws and regulations, which are interconnected to each other. The organizations offer
services in all or most of the related fields, some of which are as follows:

 Custom Duty
 Value Added Tax or V. A. T.
 GST (Goods and services Tax)

 PRACTICALVat (Value Added Tax)

 Meaning: - Value added tax is an Indirect tax on goods, which is introduced in lieu
of sales tax, to insure the transference at greater compliance with statutory norms.
The basic premise of Vat is to tax, the true value added to the goods at each stage
of the transaction chain. This concept ultimately reduces (1) Tax paid to the govt.
(2) Tax passed on to the customer. Vat is the multipoint tax as against sales tax,
which is a single point tax.

 Following Are The Advantages To Implement Tax :-

 Enhancement of competitiveness by removable of the cascading effect of
tax.
 Simplifying the process of tax.
 Self regulatory, Macon sum insuring Creator compliance.

 Path of creation changes in VAT.

F11 Function key

Company Features

Statutory & Taxation

1. Enable value added Tax –‘Yes’
2. Set / Alter vat details – ‘Yes’

 VAT Adjustment :-
1. Input vat @4% /@1% /@12.5%
2. Out vat @4% @1 % / @12.5%
3. Purchase @4% @1 % / @12.5%
4. Sales @4% @1 % / @12.5%
5. Vat adjustment A/C
6. Vat payable A/C

 Vat adjustment - : VP =OV- IV

Noble English Academy, opp. Life Line Hospital, M2 Road, Hudco, Aurangabad. Page 42
 1. Out vat @ 4 % A/C --------Dr.
To input vat @ 4 %
To vat payable A/C

2. Vat payment
Vat payable A/C ---------Dr.

 How to see vat reports

G.O.T.

Display

Statutory Report

Vat Report

Vat Computation

Q.1. Purchase goods @ 4 % vat.

Qty Rate Amount
10 1000 10000

Answer :- purchase voucher.

Item Qty Rate Amount
Goods 10 1000 10,000
Input vat @ 4 % 400

Total 10,400

Q.2. Sold goods @ 4 % vat.

Qty Rate Amount
10 1,500 15,000

Answer: - sale voucher.

Item Qty Rate Amount
Goods 10 1,500 15,000
Output vat @ 4 % 600

Total 15,600

Noble English Academy, opp. Life Line Hospital, M2 Road, Hudco, Aurangabad. Page 43
 Assignment No.21

1-11-2016 :Purchase 10 Lenovo Laptops @ 4 % vat from Nath Company.

Qty Rate Amount

10 pc’s 28000 2,80,000

3-11-2016 :Sold Lenovo Laptops @ 4% vat to Mehta Traders

Qty Rate Amount

8pc’s 39,000 3,12,000

6-11-2016 : Make the vat adjustment entry.

5-11-2016 :Purchased 100 bags of ‘Super Gold Cement’ @ Rs. 100 each from M/s Bhushan

Enterprises on Credit (Bill No. 25). VAT extra @ 4%

10-11-2016 :Purchased 150 kg. of ‘Ready-mix Concrete’ from M/sBhushan Enterprises @

Rs. 100per kg.on Credit (Bill No. 31) VAT extra @ 12.5%

13-11-2016 :Sold 80 bags ‘Super Gold Cement’ @ Rs. 150 each of to M/s Sagar

Contractors on Credit (Bill No. 100) VAT extra @ 4%.

15-11-2016 :Sold 100 kg. of ‘Ready-mix Concrete’ to M/s Sagar Contractors

@ Rs. 130 per kg. on credit (Bill No. 105) VAT extra @ 12.5%

20-11-2016 :Purchased 50 bags of ‘Power Cement’ @ Rs. 160 each from M/s Bhushan
Noble English Academy, opp. Life Line Hospital, M2 Road, Hudco, Aurangabad. Page 44
 Enterprises (Bill No. 100) – VAT extra @ 4%.

23-11-2016 :Purchased 100 sugarbag Rs.1200/- With including @12.5% vat.

25-9-2016 :Purchased 50 bags of Bharat Tea powder @ Rs. 145 each from M/s Modi

innovation(Bill No. 056) – VAT extra @ 12.5%

Assignment

1-1-2017: Purchase 5000 Liter Petrol @ 4% vat from Rohit Company.

Qty Rate Amount

5000Liter 75 3,75,000

3-2-2017: Sold Petrol @ 4% vat to AK Traders

Qty Rate Amount

3000Liter 82 2,46,000

5-2-2017: Make the vat adjustment entry.

6-2-2017: Purchased 6000 liter of Diesel @ Rs.50 per Liter from HP petrol pump on Credit

(Bill No. 30). VAT extra @ 4%.

9-2-2017: Purchased 500 Liter of Kerosene from Neeraj and co. @ Rs.30 Per Liter on Credit

(Bill No. 37) VAT extra @ 12.5%.

11-2-2017: Sold 1000 Liter of Diesel @ Rs.55 Per Liter to reliance petrol pump on Credit

(Bill No. 100) VAT extra @ 4%.

14-12-2017: Sold 150 Liter Kerosene to Akhislesh @ Rs.40 per liter on credit (Bill No.

005) VAT extra @ 12.5%

20-11-2016 :Purchased 3000 liter Indian oil from Bharat petroleum. (Bill No. 206) – VAT

extra @ 4%.

Noble English Academy, opp. Life Line Hospital, M2 Road, Hudco, Aurangabad. Page 45
 23-11-2016 :Purchased 2000 liter of petrol @ Rs.74 per Liter from Bharat Petrolium on

Credit (Bill No. 441). VAT extra @ 4%.

25-9-2016 : Sold 1000 Liter of Petrol @ Rs.80 Per Liter to reliance petrol pump on Credit

(Bill No. 200) VAT extra @ 4%.

 PRACTICALCost Centers and Cost Categories

 Cost Centers & Cost Category :-

 Meaning :-
A cost center is any unit an organization to which transactions can be allocated.
When expenses are allocated to these units. They are referred to as a cost center.
Cost center in tally allows an additional dimension to a transaction, where a
leader A/c indicates the nature of transaction

For Example:-

a) Department of an origination:-
Finance, marketing, manufacturing etc
b) Individuals such a sales man
A, B, C, D etc.

 Path of cost center & cost category

F11 function key

a) Maintain cost centers => yes

b) Use cost center for job costing => yes
c) Use predefine cost centers allocation during the enter => No

Noble English Academy, opp. Life Line Hospital, M2 Road, Hudco, Aurangabad. Page 46
 Assignment No.23
Departments (Cost Centers) - i) Paper Dept.,ii) Stationary Dept.
1-12-2016 :General expenses paid of Rs. 10, 000/- in Cash.(Paper Dept. -4000/-,
Stationary Dept. - 6000/-)

4-12-2016 :Purchased Air Conditioners in Cash Rs. 15,000/- for Paper Dept.

6-12-2016 : Rent paid of Rs. 7000/- (Paper Dept. – 2000/-, Stationary Dept. - 5000/-)

8-12-2016 :Paid Advertisement Exp. By ChequeRs. 6000/-.(Stationary Dept)

13-12-2016 :Paid Telephone Charges Rs. 2000/- In Cash. (Paper Dept. – 500/-,
Stationary Dept. – 1500/-)

15-12-2016 :Purchase Machinery of Rs. 20, 000/- On Credit from M/S Sonal Trading
Co. (Paper Dept. - 8,000/-, Stationary - 12,000/-)

17-12-2016 :Received Commission for Stationary Dept. Rs. 500/- In Cash

19-12-2016 :Sold machineryRs. 6000/- In Cash. (Paper Dept.)

21-12-2016 :Paid Salary Rs. 5000/- By Cash (Stationary Dept.)

22-12-2016 Paid advertisement exp Rs.8,000/- (Paper Department)

26-12-2016 :Stationery paid Rs. 1,200 by cash.

Category : stationery
Center : paper, pencil, Rubber,

Amount will be equally distributed among the centers.

Noble English Academy, opp. Life Line Hospital, M2 Road, Hudco, Aurangabad. Page 47
 Assignment No.24
*Departments (Cost Centers) -1) Marketing Departments 2) Sales Departments 3)
Purchase Department

1-1-2017: Office expenses paid of Rs. 15,000/- in Cash.(Marketing Dept.-

5,000/-,Sales Dept.-5,000/-,Purchase Dept.-5,000/-)

2-1-2017: Purchased Laptop Rs.90,000/-in cash.(Purchase Dept.30,000/-,Marketing

Dept.30,000/-,Sales Dept.30,000/-)

3-1-2017: Rent paid of Rs. 15,0000/- (Marketing Dept. – 6000/-, sales Dept. –
6000/-,Purchase Dept.3000/-)

4-1-2017: Paid Advertisement Exp. By Cheque Rs. 25,000/-.(Sales

Dept.15,000/-,Purchase Dept.5,000/-,Marketing.5000 )

5-1-2017: :Paid Electricity Expenses Rs. 45,000/- In Cash. (Sales Dept. – 25,000/-,
Purchase Dept. – 10,000/-, Marketing Dept.-10,000/-)

6-1-2017: Paid Salary Rs. 40,000/- By Cash (Marketing Dept.15,000/-,Sales

Dept.5,000/-,Purchase Dept.20,000/-)

7-1-2017: Received Commission Rs.20,000/-(Marketing Dept.7,000/-,Sales

Dept.7,000/-,Purchase Dept.6,000/-)

8-1-2017: Paid Postage & Telephone Expenses Rs.50,000/-in cash.(Purchase

Dept.20,000/-,Sales Dept.20,000/-,Marketing Dept.10,000/-)

9-1-2017: Paid advertisement Exp.60,000/-(Marketing Exp.

Rs.30,000/- ,Purchase Dept.20,000/-,Sales Dept.10,000/-)

Noble English Academy, opp. Life Line Hospital, M2 Road, Hudco, Aurangabad. Page 48
  PRACTICAL Purchase/Sales Order Processing

 Purchase order processing :-

In every economic units, firm or company has numerical business transaction, all
the dealing of sales, purchase, receipt , payments & soon has been recorded in that
particular thinking. In that all one of the most of the important part is to maintain or to
keep the recorded of raw material supply. Because it is the part which is directly affect to
the production of the company. It the company has less stock of company is more than
that, at that time we need to place the purchase order to the respective parties.

Because after placing the purchase order they will sent the material with in a
period of requirement. It has to be helpful to fulfill the requirement of manufacturing
unit, tracking units & so on.

 Functions to be Activated for Purchase& Sales Order Processing :-

G.O.T

F11 (Co. features)

Inventory features

a) Allow purchase order processing =>yes

b) Allow sales order processing =>yes
c) Track Additional cost of purchase => yes
d) Use tracking numbers (delivery &Receipt note) => yes.

 How to proceed the purchase order processing:-

a) Place the purchase order to the party
Purchase order Voucher (Alt + F4)
b) Received the material along with challan
Receipt note Voucher (Alt + F9)
c) Received purchase bill against the challan from the party.

Noble English Academy, opp. Life Line Hospital, M2 Road, Hudco, Aurangabad. Page 49
 Purchase Voucher (F9)
d) Make the payment of bill to the party through bank cheque or cash.
Payment Voucher (F5)

 How to proceed the Sales order processing:-

a) Received Sales Order From the party

Sales order Voucher (Alt + F5)
e) Delivered the material along withchallan
Delivery Note Voucher (Alt + F8)
f) Sent the Sales bill against the challan to the party.
Sales Voucher (F8)
g) Received the amount of bill from the party through bank cheque or cash.
Receipt Voucher (F6)

Noble English Academy, opp. Life Line Hospital, M2 Road, Hudco, Aurangabad. Page 50
 Assignment No.25
1-1-2017: Send the Purchase order to Patanjali Store (Order No.

KRI/PO/001).

Name of the Item Qty

1. Patanjali Honey 500 gm 100
2. PatanjaliKeshkanti Hair oil 100
3. Patanjali Beauty Cream 50gm 50

4-1-2017 :Received all the Respective Material (Challan No. PAT/CH/001)

Against the order no (Order No.KRI/PO/001).

5-1-2017 :Received Purchase Bill From Patanjali Store against Challan No.

PAT/CH/001, (PAT/PUR/001)

6-1-2017 :Paid the Respective Bill amount of the bill no. PAT/PUR/001

By cheque of ICICI Bank (Cheque No. 06283)

8-1-2017 :Send the Purchase order to D-Mart Mall (Order No. KRI/PO/002).

Name of the Item Qty

4. Formal ShirtsXL 200
5. Cotton Jeans 300
6. Plane T Shirts 150

9-1-2017 :Received all the Respective Material (Challan No. DMT/CH/043)

Against the order no (Order No.KRI/PO/002).

12-1-2017 :Received Purchase Bill From D-Mart Mall against Challan No.

DMT/CH/043, (DMT/PUR/096)

Noble English Academy, opp. Life Line Hospital, M2 Road, Hudco, Aurangabad. Page 51
13-1-2017 :Paid the Respective Bill amount of the bill no. DMT/PUR/096

By cheque of Maharashtra Bank (Cheque No. 02146)

Assignment No.26
1-2-2017: Send the Purchase order to Star Bazar (Order No. KRI/PO/003).

Name of the Item Qty

1) Soya Oil Jar (10Ltr) 150
2) Coconut Oil Jar (5Ltr) 180
3) Groundnut Oil Jar (15Ltr) 200

4-2-2017: Received all the Respective Material (Challan No. STB/CH/003)

Against the order no (Order No.KRI/PO/002).

5-2-2017: Received Purchase Bill From Star Bazar against Challan No.

(STB/CH/003), (PAT/PUR/003)

6-2-2017:Paid the Respective Bill amount of the bill no. STB/PUR/003

By cheque of SBI (Cheque No.01248)

8-2-2017: Send the Purchase order to Reliance Mall (Order No. KRI/PO/004).

Name of the Item Qty

4) Groundnut 200 Kg
5) Rice 120 Kg
6) Black Gram 20 Kg

9-2-2017: Received all the Respective Material (Challan No. RLM/CH/039)

Against the order no (Order No.KRI/PO/003).

12-2-2017:Received Purchase Bill From Reliance Mall against Challan No.

(RM/CH/043), (RLM/PUR/085).

13-2-2017: Paid the Respective Bill amount of the bill no.( RLM/PUR/096).

Noble English Academy, opp. Life Line Hospital, M2 Road, Hudco, Aurangabad. Page 52
 By cheque of Maharashtra Bank (Cheque No. 02146).

Assignment No. 27

15-1-2017 :Received the Sales order From New Fashion point shop
(Order No.NFP/SO/004).
Name of the Item Qty
1. Formal Shirts XL 80
2. Cotton Jeans 120
3. Plane T Shirts 60

17-1-2017 :Send all the Respective Material (Challan No. KRI/CH/009)

against the order no.(Order No. NFP/SO/004) .
22-1-2017 :Send the Sales Bill To New Fashion PointShop against
Challan No. KRI/CH/009, (KRI/SALE/009)

23-1-2017 :Received the Respective Bill amount of the bill no.

KRI/SALE/009Bycheque of Syndicate Bank (Cheque No. 02404)

24-1-2017 :Received the Sales order From Sanskriti Provision (Order

No. SAN/SO/001).

Name of the Item Qty

1. Patanjali Honey 500 gm 20
2. PatanjaliKeshkanti Hair oil 25
3. Patanjali Beauty Cream 50gm 15

26-1-2017 :Send all the Respective Material (Challan No.

KRI/CH/001)against the order no.(Order No. SAN/SO/001) .

27-1-2017 :Send the Sales Bill To Sanskriti Provision against Challan

Noble English Academy, opp. Life Line Hospital, M2 Road, Hudco, Aurangabad. Page 53
 No. KRI/CH/001, (KRI/SALE/001)

28-1-2017 :Received the Respective Bill amount of the bill no.

KRI/SALE/001By cheque of Central Bank of India (Cheque No.

02404)

Assignment No.28
15-2-2017: Received the Sales order From Mehta Traders
(Order No.MTS/SO/005).

Name of the Item Qty

1) Soya Oil Jar (10Ltr) 100

2) Coconut Oil Jar (5Ltr) 120

3)Groundnut Oil Jar (15Ltr) 140

17-2-2017:Send all the Respective Material (Challan No. KRI/CH/011)

against the order no.(Order No. MTS/SO/005).

22-2-2017: Send the Sales Bill To Mehta Traders against

Challan No.KRI/CH/009, (KRI/SALE/011).

23-2-2017: Received the Respective Bill amount of the bill no.

(KRI/SALE/009)By cheque of SarswatBank (Cheque No. 02679).

24-2-2017: Received the Sales order From VaibhavProvision (Order

No. (VPN/SO/003).

Name of the Item Qty

4) Groundnut 30Kg

Noble English Academy, opp. Life Line Hospital, M2 Road, Hudco, Aurangabad. Page 54
 5 ) Rice 40Kg
6) Black Gram 5Kg

26-2-2017: Send all the Respective Material (Challan No.

KRI/CH/003)against the order no.(Order No. SAN/SO/001).

27-2-2017: Send the Sales Bill To Vaibhav Provision against Challan

No.( KRI/CH/003), (KRI/SALE/002).

28-2-2017: Received the Respective Bill amount of the bill no.

(KRI/SALE/003) By cheque of Central Bank of India (Cheque No.

02679).

Noble English Academy, opp. Life Line Hospital, M2 Road, Hudco, Aurangabad. Page 55
 PRACTICAL:Stock Journal

 Stock journal :-
1) A stock journal is record the consumption of material.
2) Transfer of stock from one location or department to another.

Assignment No.19
2-1-2016 :Purchase following raw material from Nath Co. on Credit.

Sr. Name of Qty Rate

No Item
1 Picture 20 2000
tube
2 CPU 20 7000
3 Key board 20 200
4 Mouse 20 100
5 Sounds 40 300
Dated on 1-11-2016 bill no: - Nath /002/433 & store at Cidco godown.

4-1-2017 : -transfer all the material which is purchase on 2-01-2016 to the

Waluj godawn for production purpose dated on 2-11-2016.[using stock
journal]

6-1-2017 :Transfer 12pcs of picture tube from Waluj godown to Harsul

godown.

7-1-2017 :Purchase Fuel From HP co. on Credit.

Sr. No Name of Qty Rate

Noble English Academy, opp. Life Line Hospital, M2 Road, Hudco, Aurangabad. Page 56
 Item
1 Petrol 20000 ltr 72
2 Disel 15000 ltr 60
Store at HarsulHp petrol Pump.

9-1-2017 :Transfer 5000 ltr petrol from Hp petrol Pump harsool to Samarth
Nagar Hp petrol pump.
12-1-2017 :Transfer 6000 ltr disel From Hp petrol Pump Harsool to Samarth
Nagar HP petrol pump.

Assignment
1-2-2017: Purchase following Goods from Disha Co. on credit.
Sr. No Name of Item Kg Rate

1. Walnut 50 700
2. Almond 40 750
3. Dry dates 60 200
4. Cashew Nut 55 850
5. Raisin 30 300

Dated on 1-2-2017bill no: - Disha /005/568& store at Waluj godown.

4-3-2017: 4-transfer all the Goods which is purchase on 1-2-2017 to the

Hudco godown for selling purpose.[using stock journal]

6-3-2017: Transfer 20Kg of Almond from Hudco godown to Cidco godown

7-3-2017: Purchase Furniture from Telco co. on Credit.

Sr. .No. Name Of Qty Rate

Item
1. Chair 100 500
2. Stools 50 200
3. Tables 80 600

Noble English Academy, opp. Life Line Hospital, M2 Road, Hudco, Aurangabad. Page 57
 Store at Shendra Telco co.

9-3-2017: Transfer 40Chairs from Telco Co. Shendra to Usmanpura godawn.

12-3-2017 : Transfer 50Tables From Telco Co. Shendra to cidco godawn.

 Manufacturing Journal
 Bill of material [B.O.M.] :- Bill of material is a listing of all the assemblies. Sub-
assemblies, parts & row material which are needed to produce one unit of finish
product. Each finished product has its own bill of material.

For Example :- 1) A bill of material for 1 computer may consist of as follows.

 Mother board
 One sound card
 One monitor
 One mouse
 One key board
 One set of speaker
 One c.d. drive.

 If we have on order to produce 100 personal computers, the bill of material makes it
easy to calculate & plan. Like as follows
 Quantity of parts or raw material required to complete the order.
 Quantity of stock at the start of the production.
 Responsibilities of each department.

 Use of bill of material. :-

 Purchase department
 Store department
 Production department
 Costing department

Noble English Academy, opp. Life Line Hospital, M2 Road, Hudco, Aurangabad. Page 58
 Path of creation of BOM. :-
1) G.O.T.

F. 12

Allow componont list detail [BOM] ‘Yes’

2) G.O.T.

inventory info

stock item

Alteration

Alter component [BOM] ‘Yes’

3) Path to create manufacturing journal

G.O.T.

Accounting Info

Voucher Type

Create

Manufacturing journal

Noble English Academy, opp. Life Line Hospital, M2 Road, Hudco, Aurangabad. Page 59
 Assignment No.20
1-1-2017 : Prepare the voucher type - manufacturing journal.

The following raw material will be required to manufacture one piece

of P4 computer.

[F-12 – Inventory info – allow component list details ‘Yes’]

Name of items No. of unit Godown

Picture tube 1 Waluj
CPU 1 Waluj
Key board 1 Waluj
Mouse 1 Waluj
Sounds 2 Waluj
Produce 10 pcs of P4 computer & store to Cidcogodown. Additional cost: - labour
charges 1% pc; power 2% & carriage 1.5 %.

Again produce 10 pcs of P4 computer & store in Harsulgodown. Additional cost same
like as above.

2-1-2017 : Prepare the voucher type - manufacturing journal.

The following raw material will be required to manufacture one piece

of Samsung Galaxy 2

[F-12 – Inventory info – allow component list details ‘Yes’]

Name of items No. of unit Godown

Touch screen 1 Shendra
S-Battery 1 Shendra
Touchpad 1 Shendra

Noble English Academy, opp. Life Line Hospital, M2 Road, Hudco, Aurangabad. Page 60
 Speaker 1 Shendra
Camera 2 Shendra
Mike 1 Shendra
Body cover 1 Shendra
Produce 50 pcs of Samsung Galaxy 2& store to Cidcogodown.
Additional cost: - labour charges 5% pc; power 4% & carriage 3.5 %.

Again produce 30 pcs of P4 Samsung Galaxy 2& store in

Harsulgodown. Additional cost same like as above.

Assignment
1-5-2017: Prepare the voucher type - manufacturing journal.

The following raw material will be required to manufacture one piece

of Television.

[F-12 – Inventory info – allow component list details ‘Yes’]

Name Of Item Unit Of Qty Godawn

Measure
Picture Tube NOS 1 Cidco
BPL
PCB Main NOS 1 Cidco
Board
TV Tuner Card NOS 1 Cidco
Stereo Speakers NOS 2 Cidco
Auto Amplifier NOS 2 Cidco
Electrical Wire Mt 5 Cidco

Produce 10 NOS of Television& store to Cidcogodown. Additional

cost: - labour charges 2% pc; power 1% & carriage 2.5 %.

Again produce 10 NOS of Television & store in Hudcogodown.

Additional cost same like as above.

1-5-2017: Prepare the voucher type - manufacturing journal.

Noble English Academy, opp. Life Line Hospital, M2 Road, Hudco, Aurangabad. Page 61
 The following raw material will be required to manufacture 1 Two
wheeler (Hero Splendor)

Name Of Item Unit Of Qty Godawn

Measure
Engine NOS 1 Hudco
Battery NOS 1 Hudco
Headlight NOS 1 Hudco
Indicators NOS 4 Hudco
Plugs NOS 1 Hudco
Mac Wheels NOS 2 Hudco

Produce 20 NOS of Two wheeler Hero Splendor to Cidco godown.

Additional cost: - labour charges 3% pc; power 4% & carriage 3.5 %.

Again produce 20 NOS of Two wheeler Hero Splendor.

in Harsul godown. Additional cost same like as above.

Noble English Academy, opp. Life Line Hospital, M2 Road, Hudco, Aurangabad. Page 62
 TDS(Tax Deducted at Source)

T.D.S is one of the modes of collecting the income tax. The buyer ‘Detector’
deducted the tax from the payment mode to the seller ‘deducted’ & remits the tax to
the income tax deportment within the stipulated / particular time. The buyer corporate
or non- corporate make the payments such as salary, rent, interest on securities,
dividend, insurance, professional fees, commission or brokerage etc. to the seller &
deduct the requisite amount from such a payments towards tax.
The buyer files the TDS return containing details of the seller & the bank where
the TDS. Amount is deposited to the income tax deportment.

 How to work with TDS.

G.O.T.

F 11 function key

Statutory & Taxation

Enable tax deducted at source => yes

Set/ Alter TDS details => yes

Tax assessment number [TAN] =

Income tax circle / word [TDS] =
Deducted type =
Designation =

 PRACTICAL NO :

Noble English Academy, opp. Life Line Hospital, M2 Road, Hudco, Aurangabad. Page 63
 1. Mr. Shyam is a insurance agent which provides as a services of insurance & we
need to pay such a quality commission on the insurance policy to him @ 15,000/-
per month.

2. We need to pay Rs. 90,000/- as a commission on insurance to Mr. Shyam.

3. We need to charge the TDS on commission of insurance.

4. The balances of Mr. Shyam need to pay after deduction of TDS.

Make the payment of TDS to the income tax department.

Assignment No.21
1. We have received an invoice for Rs. 300,000 of Rent of building From Nath seeds.

2. Paid the Bill amount of Rent of Building after deduction of TDS.

3. Paid the TDS on Rent of Building by Cheque (Ch.54644)

4. We have received an invoice for Rs.25,000 of Audit & Consulting revenue from

CA. Nilesh Gupta & Associates.

5. Paid the Bill amount of consulting revenue after deduction of TDS,

6. Paid TDS on consulting revenue by cheque (ch.no. 62537)

7. Company purchased an invoice of Rs. 35,000 of commission & Brokerage

FromShri. Ganesh commission & Broker

8. Paid the amount of Brokerage & Commission after deduction of TDS on it.

9. Paid the amount of TDS On Brokerage.

10.Make the payment of TDS to the Income Tax Department.

Noble English Academy, opp. Life Line Hospital, M2 Road, Hudco, Aurangabad. Page 64
 Assignment No.21
1. We have received an invoice for Rs. 300,000 of Rent of building From Nath seeds.

2. Paid the Bill amount of Rent of Building after deduction of TDS.

3. Paid the TDS on Rent of Building by Cheque (Ch.54644)

4. We have received an invoice for Rs.25,000 of Audit & Consulting revenue from

CA. Nilesh Gupta & Associates.

5. Paid the Bill amount of consulting revenue after deduction of TDS,

6. Paid TDS on consulting revenue by cheque (ch.no. 62537)

7. Company purchased an invoice of Rs. 35,000 of commission & Brokerage

FromShri. Ganesh commission & Broker

8. Paid the amount of Brokerage & Commission after deduction of TDS on it.

9. Paid the amount of TDS On Brokerage.

10.Make the payment of TDS to the Income Tax Department.

Noble English Academy, opp. Life Line Hospital, M2 Road, Hudco, Aurangabad. Page 65
 TCS (Tax Collected At Source)

 Tax Collected At Source [T.C.S.] :-

TCS is collected by a seller of certain specified goods at the specified rate. A

person granting specified services such as a lease or license in a parking lot. Tale
plaza and So on.

Percentage of TCS:-

Sr.No Nature of goods Percentage

1 Alcoholic liquor for human 10 %
Consumption
2 Tendu leaves 5%
3 Timber obtained under a 2.5 %
forest – lease
4 Timber obtained by any 2.5 %
mode other than under a
forest lease
5 Any other forest produce 2.5 %
not being timber or Tendu
lease
6 Scrop 1%
Time is mode of payment of TCS to govt. A/c. all the tax collected at source [tcs]
shall be paid to the credit of the central govt. within one week from the last day of month
in which the collection is mode.

When the collection is mode by or on behalf of the govt. the amount shall be
credited with in the time & in the manner given without the production of a challan.

Noble English Academy, opp. Life Line Hospital, M2 Road, Hudco, Aurangabad. Page 66
 TCS. Return: - The collections are required to file TCS returns with the income tax
department. TCS. Return contains of collectors [TAN- tax assessment name &
number, address]. Tax deposit at the bank.

 Path of TCS :-

G.O.T.

F 11 function key

F3 – statutory & taxation

1. Enable tax collected at source => ‘yes’

2. Set / Alter TCS details => ‘yes’

Assignment No.22

 Maintain the following stock items in your company.

Stock items Units of Quantity Rate Amount

Measure
Tendu leafs Bag 200 1500 300,000

Spice Wild Kg 150 1080 162,000

Honey

Timber Ton 100 2500 250,000

Lichen Kg 200 400 80,000

Gum Kg 300 180 54,000

Total 846,000

1. Sold 140 Bags of Tendu leafs to Kiran traders for Rs. 1800 per bag.
2. Sold 140 Kg Spice wild Honey to Reliance Mart for Rs. 1,000 per kg.
3. Sold 150 Kg Lichen to Reliance Mart for Rs. 500 per Kg.
4. Sold 60 Tonnes of Timber to GDSK Furnitures for Rs. 3000 per ton.
5. Sold 250 kg Gum to D-mart for Rs. 220 per kg.
6. Received the amount of Bill from GDSK Furnitures By cheque,
Noble English Academy, opp. Life Line Hospital, M2 Road, Hudco, Aurangabad. Page 67
 7. Received the amount of Bill from D-mart by cash.
8. Received the amount of Bill from Reliance mart by cheque,
9. Received the amount of Bill from Kiran traders by cheque.
10. Make the payment entries of respective TCS accounts.
11.Scrap sold of Rs. 250,000 by bank & charge the TCS on it.

Assignment

 Maintain the following stock items in your company.

Stock Item Units Of Quantity Rate Amount

Measure
Patanjali Honey 1Ltr 100 1100 1,10,000
Black Paper Kg 150 550 52,500
Silk Kg 200 1200 2,40,000
Wax Gm 500 800 4,00,000
Tusks Kg 300 600 1,80,000
Total 9,82,500

1. Sold 90 Liter of Patanjali Honey to Krishna traders for Rs.

1500 per Liter.
Noble English Academy, opp. Life Line Hospital, M2 Road, Hudco, Aurangabad. Page 68
 2. Sold 100 Kg Black Paper to Prozon Mall for Rs.600 per kg.
3. Sold 150Kg Silk to D-Mart for Rs. 1400 per Kg.
4. Sold 250Gm Wax to Reliance Mall for Rs. 1000 per Gm.
5. Sold 280 Kg Tusks to D-mart Mall for Rs.800 per kg.
6. Received the amount of Bill from Reliance Mall By cheque.
7. Received the amount of Bill from Prozon Mall by cash.
8. Received the amount of Bill from Reliance Mall by cheque.
9. Received the amount of Bill from Krishna traders by cheque.
10. Make the payment entries of respective TCS accounts.

Actual and Billed Quantity

Sometimes, the goods purchased or sold may have difference in the actual and the
billed quantities due to free schemes, Rejected by the customer for defective quality,
Rounding off the billing quantity ( for eg., in chemical industries , kerosene 148.50 ltr is
actually delivered but bill is made for 150 Ltr).

To activate Actual and billed Quantity set following feature Yes

F11 Features > F2 Invnetory Features > Use Separate Actual & Billed QtyColoumn –
Yes

Example. On 10th Aug purchased 5 pcs of Lenovo chargers from Yash Mobiles at Rs.
200 each and get 1 charger free. VAT @5.5% stored at Mumbai (East)

Noble English Academy, opp. Life Line Hospital, M2 Road, Hudco, Aurangabad. Page 69
 Assignment No.24
2-2-2017 : Purchased the goods from Raman Traders along with free

samples(Raman/put/001)

Nameof the item Qty Rate Amount

Ponds Powder 50 25 1250
Clinic plus shampoo 50 - -

3-2-2017 : Purchased Raincoat from Pawar Traders along with free samples

(Bill no.Pawar/Pur/001)

Name of the item Qty Rate Amount

Actual Billed
Rain coat 200 180 300 54000

5-2-2017 :Purchased SG Selfie Sticks from amazon and 1 LG Earphone free

on each selfie stick (Bill no. Amz/Pur/003)

Name of the item Qty Rate Amount

Actual Billed
SG22 Selfie stick 20 20 500 10,000
Lg Headphones 20 - - -

Noble English Academy, opp. Life Line Hospital, M2 Road, Hudco, Aurangabad. Page 70
6-2-2017 :Purchased Lenovo laptops from Flipcart and 1 lenovo laptop bag

free on each Lenovo laptop (Bill no. flp/Pur/003)

Name of the item Qty Rate Amount

Actual Billed
Lenovo laptops 30 30 20,000 6,00,000
Lenovo laptop bag 30 - - -

10-2-2017 :Sold the goods to Sandhya.

Nameof the item Qty Rate Amount

Ponds Powder 10 28 280
Clinic plus shampoo 10 - -

12-2-2017 : Sold the goods to Ankush Super shopee.

Name of the item Qty Rate Amount

Actual Billed
Rain coat 100 90 340 30,600

14-2-2017 :Sold the goods to IT Solutions of Cidco.

Name of the item Qty Rate Amount

Actual Billed
Lenovo laptops 20 20 22,000 4,40,000
Lenovo laptop bag 20 - - -

16-2-2017 :Sold the goods to Hitesh Infosis.

Name of the item Qty Rate Amount

Actual Billed
SG22 Selfie stick 10 10 600 6,000
Lg Headphones 10 - - -

18-2-2017 :Purchased goods from ShitalKirana stores.

Name of the item Qty Rate Amount

Noble English Academy, opp. Life Line Hospital, M2 Road, Hudco, Aurangabad. Page 71
 Actual Billed

50kg Basmati Rice Bag 60 55 2800 1,54,000

21-2-2017 :Sold the goods to Akshay

Name of the item Qty Rate Amount

Actual Billed
50kg Basmati Rice Bag 30 28 3,000 84,000

Assignment 25

1-3-2017: Purchased the goods from Aarti Traders along with free
samples(Aarti/pur/100).
Name of the item Qty Rate Amount
Eva Powder 70 35 2450
Tresemme Shampoo 70 - -

2-3-2017: Purchased Sweaters from Shastri Traders along with free samples
(Bill no.(Shastri/Pur/100)
Name of the item Qty Rate Amount
Actual Billed
Sweaters 1000 800 500 4,00,000

3-3-2017: Purchased I-phone 5s from Flipcard and 1 Earphone free on each I-

phone 5s (Bill no. FPC/Pur/200)

Noble English Academy, opp. Life Line Hospital, M2 Road, Hudco, Aurangabad. Page 72
 Name of the item Qty Rate Amount
Actual Billed
I-phone 5s 40 40 50,000 20,00,000
Headphones 40 - -

4-3-2017: Purchased Dell laptops from Amazon and 1 Dell laptop bag free on
each Dell laptop (Bill no. AMZ/Pur/200)
Name of the item Qty Rate Amount
Actual Billed
Dell laptops 35 35 30,000 10,50,000
Lenovo laptop bag 30 - - -
8-3-2017: Sold the goods to Mr. Shubham.
Name of the item Qty Rate Amount
Eva Powder 25 30 750
Tresemme Shampoo 25 - -

10-3-2017: Sold the goods to Varad Super shopee.

Name of the item Qty Rate Amount

Actual Billed
Sweaters 500 400 580 2,32,000

12-3-2017: Sold the goods to Nath Computers of Waluj.

Name of the item Qty Rate Amount

Actual Billed
Dell laptops 25 25 33,000 8,25,000
Lenovo laptop bag 25 - - -

14-3-2017: Sold the goods to Aditya Ltd.

Name of the item Qty Rate Amount

Actual Billed
I-phone 5s 20 20 55,000 11,00,000
Headphones 20 - -

Noble English Academy, opp. Life Line Hospital, M2 Road, Hudco, Aurangabad. Page 73
16-3-2017: Purchased goods from Anuradha stores.

Name of the item Qty Rate Amount

Actual Billed

30Kg Black Gram 40 35 100 3500

18-3-2017: Sold the goods to Pranjal.

Name of the item Qty Rate Amount

Actual Billed
30Kg Black Gram 20 18 120 2160

Price Level and Discount

 Price Level :-

Price list are useful for orders & invoice. An up to date price list help in decision
making even at the lower levels of the organization & speed up to soft process. Price list
one available only for inventory items. And hence, the features are available only if
inventory & invoicing are activated for the company.You are requiring more than are
price structure for different purpose, different groups of customers requiring different
discount or dealing in different.

 Path of price level :-

F11 Function key Company features Inventory features Use multiple

price levels =>yes Whole seller Retailer Ctrl + A Enter.

 Creation of price level :-

Gateway of Tally Inventory Info Price list.

Noble English Academy, opp. Life Line Hospital, M2 Road, Hudco, Aurangabad. Page 74
 Assignment
1. Set the following price level for Whole seller. ( product name: LG LED T.V
32Inch)

Slab Rate Discount

Up to 1 pc 35000 4%
1 to 5 pc 33000 6%
6 to 10 pc 31000 8%
Above 29000 10%

2. Set the following price level for Dealer. ( product name: LG LED T.V 32Inch)

Slab Rate Discount

Up to 1 pc 35500 2%
2 to 5 pc 33500 4%
6 to 10 pc 31500 6%
Above 10 pc 29500 8%

2. Set the following price level for retailer. ( product name: LG LED T.V 32Inch)

Slab Rate Discount

Up to 1 pc 36000 3%
2 to 5 pc 34000 5%
6 to 10 pc 32000 8%
Above 10 pc 30000 10%

Noble English Academy, opp. Life Line Hospital, M2 Road, Hudco, Aurangabad. Page 75
 1-3-2017: Manufactured 80 LG LED TV (32Inch)
3-3-2017: Sold 12 pc’s of LG LED T.V to Sony Traders.(Dealer)
5-3-2017: Sold 4 pc’s of LG LED T.V to Mr. Mehta. (Retailer)
6-3-2017: Sold 11 pc’s of LG LED T.V to Vishnu Traders (Wholeseller)
8-3-2017: Sold 6 pc’s of LG LED T.V to Ankita (Dealer)
10-3-2017: Sold 8 pc’s of LG LED T.V to Ruhi (Retailer).
12-3-2017: sold 7 pc’s of LG LED T.V to Vishal Traders (Wholeseller)
14-3-2017: Sold 15 pc’s of LG LED T.V to Sneha Co. (Retailer)
16-3-2017: Sold 13 pc’s of LG LED T.V to Mr. Kailas (Dealer)
18-3-2017: Sold 5 pc’s of LG LED T.V to Nikita Traders (Wholeseller)
20-3-2017: Sold 9 pc’s of LG LED T.V to Vrushali (Retailer

Assignment No.25

1.Set the following price level for retailer. (product name : Lenovo Laptop)

Slab Rate Discount

Less than 2 16000 3%
From 2, less than 6 15000 5%
pcs
From 6 to less than 14000 8%
11 pcs
Above 10 pc 13000 10%

2.Set the following price level for Whole seller. (product name : Lenovo Laptop)

Slab Rate Discount

Up to 1 pc 15500 4%
1 to 5 pc 14500 6%
6 to 10 pc 13500 8%
Above 12500 10%

Noble English Academy, opp. Life Line Hospital, M2 Road, Hudco, Aurangabad. Page 76
3. Set the following price level for Dealer. (product name : Lenovo Laptop)

Slab Rate Discount

Up to 1 pc 10,000 2%
2 to 5 pc 9,500 4%
6 to 10 pc 9,000 6%
Above 10 pc 8,500 8%

2-2-2017: Manufactured 50 Lenovo laptops.

4-2-2017: Sold 6 pc’s of Lenovo laptop to ICON Computers.(Dealer)
7-2-2017: Sold 3 pc’s of Lenovo laptop to Kirtishaha (Retailer)
9-2-2017: Sold 20 pc’s of Lenovo laptops to Mehta Traders (Wholeseller)
11-2-2017: Sold 7 pc’s of Lenovo laptops to pratiksha (Dealer)
15-2-2017: Sold 12 pc’s of Lenovo laptops to Khan it zone ( Retailer)

Interest Calculation
This option is highly utilize for the purpose of interest calculation
 On loan taken from bank.
 On advance payment to the credit.
 On delay the payments of debtors etc.
 Path of Calculation of Interest :-
G.O.T.

F11 function key

Accounting feature

show interest calculation ‘Yes’

 Set the per miters of interest rate in the individual ledger account.

 To View The Interest Receivable :-

G.O.T.

Display

Statement of Account

Interest calculation

Interest receivable / Payable

Noble English Academy, opp. Life Line Hospital, M2 Road, Hudco, Aurangabad. Page 77
 Set the period for 1-4-2007 to 1-7-2007

 Interest Receivable :- it means the interest which is due but not received from a party
or a particular bank.

1. Accounting entry
Party A/c. . . . . . . . . Dr.
2. Accounting entry for receipt interest
Cash / Bank A/c . . . . . . Dr.
Example: - sales a material of Rs. 10.000 from Mr. A.B.C The credit days allowed to
him [45 days]. The rate of interest charge @ 10% p.a

1.) A.B.C. A/c 10,000 -

…………….Dr. - 10,000
To sales A/c
2) A.B.C. A/c 1000 -
…………… Dr. - 1000
To interest
received A/c
3) Cash / Bank A/c 1000 -
…….Dr. - 1000
To ABC A/c

 Interest payable:-[Nominal A/c] It is the amount which is due but not paid to party.
Example:- purchase the material from Raj company Ltd. Rs. 12000 on credit [60 days]
interest should be charge after due date @10 % only.

1.) Purchase A/c ……….Dr. 12,000 -

To Raj com. Ltd. - 12,000
2) Interest payable 1,200 -
A/c………… Dr. - 1,200
To Raj com. Ltd.
3) To Raj com. Ltd……. 1,200 -
…….Dr. - 1,200
To Bank A/c

Noble English Academy, opp. Life Line Hospital, M2 Road, Hudco, Aurangabad. Page 78
 Assignment No.26

1. Activate interest calculation from F11 function key.

2. Allow credit period for debtors is 45 days & from creditors we get the credit
period of 60 days.
3. Calculation interest on debenture @ 12% p.o.& make the payments of its.
4. Bank old cleared by paying @ 10% additional interest. [city bank]
5. Interest receivable on deposit @ 8% p.o.
6. Interest received on deposits.
7. The rate of interest should be charge to debtors by 10% annually. And interest
charge by creditors @ 10 % p.a.
8. The all interest calculation should be the period of 1-4-2008 to 1-10-2008.
Answer: - journal entries in the books of mn ‘x’.

Sr.No Date Particular Dr. Amt Cr. Amt

1 Interest payable A/c…….Dr. xxx -

To debentures A/c [being - xxx
calculate the amount of
interest payable on Deben]
2 Debentures A/c…….Dr. Xxx -
To bank / cash A/c [being - xxx
interest paid on debentures]

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 3 Interest payable A/c……… Xxx -
Dr. To city bank old A/c - xxx
[being interest payable on
bank old @10 %]
4 City bank old A/c ……….Dr. Xxx -
To bank A/c [ being bank old - xxx
paid ]
5 Deposits A/c ………Dr. Xxx -
To interest perceivable A/c - xxx
[being interest receivable]
6 Cash/ bank A/c …….Dr. Xxx -
To deposits A/c [being - Xxx
interest received]
7 Debtor’s A/c …….Dr. Xxx -
To interest receivable [being - Xxx
interest receivable on debtors
@10% p.a.]
8 Cash/ Bank A/c …………Dr. Xxx -
To debtor’s A/c [being - Xxx
interest received ]
9 Interest payable A/c Xxx -
…………Dr. To creditors - Xxx
A/c [being interest payable on
creditors @ 10 % p.a.]
10 Creditors A/c ………..Dr. Xxx -
To cash / bank A/c [interest - xxx
paid on creditors]

Assignment
1-4-2017: Goods purchased from Mr. Virat of Rs.2,50,000/- (Bill
No.VR/PUR/001).
Name of the item Qty Rate Amount
MRF Bat 50 2500 1,25,000
T-Shirt 45 800 36,000

Noble English Academy, opp. Life Line Hospital, M2 Road, Hudco, Aurangabad. Page 80
Credit days 45
16-4-2017: Goods sold to Mr.Rehan of Rs.2,90,000/- (Bill No. RH/PUR/002)
Name of the item Qty Rate Amount
MRF Bat 40 4500 1,80,000
T-Shirt 35 1200 42,000
Credit days 45
29-4-2017: Goods sold to Mr. Rahul of Rs.4,00,000/- (Bill No. RL/SL/002)
Name of the item Qty Rate Amount
MRF Bat 35 5000 1,75,000
T-Shirt 30 1300 39,000
Credit days 45
1-6-2017: We are getting late for the repayment of (Bill No. VR/PUR/001) so
the party has charged interest on it and we clear the bill amount along with
interest.
1-7-2017: Rehan delayed the payment of his (Bill No. RH/PUR/002) so we
charged interest on the bill amount and received full dues along with interest.
2-7-2017: Rahul delayed the payment of his (Bill No. RL/SL/002) so we
charged interest on the bill amount and received the full dues along with
interest.

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 Budget
 Meaning: - A budget is a plan prepared for the flow of funds is an organization.
It contains financial guidelines for the future plan of action for a selected period
of time.
A budget helps to refine goods & use funds effectively. It provides accurate
information for evaluating the financial activates. It helps in decision making &
provides a reference for future planning.
 Activation In F 11 :-

G.O.T.

F 11 Function key

Accounting Features

Maintain budget & Control ‘Yes’

 Creation of Budget :-

Noble English Academy, opp. Life Line Hospital, M2 Road, Hudco, Aurangabad. Page 82
 G.O.T.

Account Info

Budget

Create

 How To See Budget Reports :-

G.O.T.

Display

Trial Balance

Alt + C

1. From [Blank for beginning]  1-1-2016

2. To [Blank for end]  1-10-2016
3. Method of stock valuation Default
4. Types of value to show  Corporate Budget
5.show variance [Diffference] Yes
6.Name of Group  Primary

Assignment No.27
1. Create a fianancial budget for indirect expenses for Rs. 2, 00,000/- for the period
from 1-4-2016 to 1-10-2016.
2. Paid Salary To Managers:-

i. Mr. ABC Rs.20,000

ii. Mr. Raw Rs. 10,000
iii. Mr. Sham Rs. 8,000

3. Commission received of Rs.7,800/- from south Indian Co. in cash.

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 4. Stationery purchased of Rs 2,800.
5. see the budgets & cost with the help of budget report & to make another payment
entry for electricity bill of office Rs 1,800/-
6. Create a manufacturing Budget For Purchase account amounting Rs. 500,000 for
the period from 1-4-2017 to 31-3-2018.
7. Purchase the goods from Mitali traders for Rs. 2,80,000
8. Purchased the goods from maruti of Rs. 1,20,000
9. Amount paid to mitali traders and maruti by Cheque of ICICI, (CH.NO.23654)
10. See the budgets & cost with the help of budget report & to make another
purchase from Sonali Traders of Rws.60,000.

Assignment

1. Create a Marketing budget for Advertisement expenses for Rs. 3, 00,000/- for the
period from 1-6-2017 to 1-12-2017.
2. Paid Salary To Market agent :-

i. Mr. Rohit Rs.50,000

ii. Mr. Rahul Rs. 40,000
iii. Mr. Rushi Rs. 20,000
3. Paid Advertisement exp. Rs.15,000/-Telco Co. in cash.
4. Paid commission to market agent Rs.20,000/-
5. Paid printing Exp.22,000/-
6. Create a Sales budget for Goods of Rs.6,00,000/-for the period from 1-1-2016 to
31-3-2017.
7. Sold Goods to Mr.Kumar Traders of Rs.1,00,000/-
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 8. Sold Goods to Pooja Pvt. Ltd. Of Rs.1,80,000/-
9. Sold Goods to Mr.Raja of Rs.75,000/-

B.R.S (Bank Reconciliation Statement)

Reconcile the company’s bank accounts with the bankers statement is a
fundamental and regular (monthly) task of accounting. Generally the bank
statement issued by the bank has same transactions as record in tally.
However there might be differences in the balances due to following cases :-

 Bank directly debited our account for bank charges, cheque book
charges, cheque return charges etc.
 Bank directly credited our account for bank interest, etc.
 Cheques issued and deposited in the bank are not cleared
immediately. It may take 2-3 days to get the cheques clear and there
will be difference in dates.
 Customer directly deposited or transferred the money in our bank
account but we had not made entry in receipt voucher tally.
Noble English Academy, opp. Life Line Hospital, M2 Road, Hudco, Aurangabad. Page 85
  We have deposited/issued Cheques but not recorded in Tally.
 Hence we need to reconcile the tally’s Bank Book with Bank
statement.

Assignment No.28

 Journalise the Following Transactions in the Books of Mr. Swaraj

1-4-2016 - Open a Bank Account with Central Bank of India by

Depositing Rs. 50,000/-

10-4-2016 - Give a cheque of Rs.2,700/- to Mr.Kapile

15-4-2016- Received a cheque of Rs.20,000/- from Mr. Nath as a

payment of His Bill.

24-4-2016- Paid Salary of Rs.5,700/- to Mr. Raghu By Cheque.

27-4-2016- Paid Light bill to the Electricity Board Rs. 1,400/- by Cheque.

2-5-2016- Paid commission to Dhoot Transmission by cheque of Rs. 12,000/-

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6-5-2016-Receiving a cheque amounting Rs. 7,200/- from Rushikesh

Enterprises for the repayment of pending bill.

9-5-2016- Withdraw Cash from Bank of Rs. 7,000/- for Personal use.

13-5-2016-Purchased furniture from Mehta Furnishing House of Rs.12,000/-

partly on credit and he paid 2,000/- by cheque.

19-5-2016- Received a cheque amounting of Rs.700/- as a dividend on

Shares which we have deposited in the bank.

 Reconcile the bank statement with our Bank Account.

BANK STATEMENT
Date Particulars Debit Credit
1-4-2016 Cash 50,000
11-4-2016 Mr. Kapile 2,700
17-4-2016 Mr. Nath 20,000
22-4-2016 Salary: Mr. Raghu 5,700
28-4-2016 Electricity bill 1,400
8-5-2016 Rushikesh Enterprises 7,200
9-5-2016 Cash 7,000
21-5-2016 Dividend on shares 700
31-5-2016 Bank Charges 114

Noble English Academy, opp. Life Line Hospital, M2 Road, Hudco, Aurangabad. Page 87
 Assignment No.28

 Journalise the Following Transactions in the Books of Mr. Swaraj

1-4-2016 - Open a Bank Account with State Bank of India by

Depositing Rs. 80,000/-

10-4-2016 - Give a cheque of Rs.8,700/- to Mr.Ahuja

15-4-2016- Received a cheque of Rs.40,000/- from Mr. Hemant as a

payment of His Bill.

24-4-2016- Paid Salary of Rs.8,300/- to Mr. Vikrant By Cheque.

27-4-2016- Paid Light bill to the Electricity Board Rs. 5,400/- by Cheque.

Noble English Academy, opp. Life Line Hospital, M2 Road, Hudco, Aurangabad. Page 88
2-5-2016- Paid commission to Maruti Suzuki showroom by cheque of Rs.
14,000/-
6-5-2016-Receiving a cheque amounting Rs. 10,200/- from Adinath

Enterprises for the repayment of pending bill.

9-5-2016- Withdraw Cash from Bank of Rs. 11,000/- for Personal use.

13-5-2016-Purchased furniture from Mehta Furnishing House of Rs.12,000/-

partly on credit and he paid 2,000/- by cheque.

19-5-2016- Received a cheque amounting of Rs.2,000/- as a dividend on

Shares which we have deposited in the bank.

 Reconcile the bank statement with our Bank Account.

BANK STATEMENT
Date Particulars Debit Credit
1-4-2016 Cash 80,000
11-4-2016 Mr. Ahuja 8,700
17-4-2016 Mr. Hemant 40,000
22-4-2016 Salary: Mr. Vikrant 8,300
28-4-2016 Electricity bill 5,400
8-5-2016 Adinath Enterprises 10,200
9-5-2016 Cash 11,000
21-5-2016 Dividend on shares 2000

Noble English Academy, opp. Life Line Hospital, M2 Road, Hudco, Aurangabad. Page 89
 31-5-2016 Bank Charges 217

Goods and services tax (GST)

WHAT IS GST?

 The Goods and Services Tax has revolutionized the Indian taxation system.
The GST Act was passed in the Lok Sabha on 29th March, 2017, and came
into effect from 1st July, 2017.

 Goods & Services Tax Law in India is a comprehensive, multi-stage, destination-

based tax that will be levied on every value addition.

 In simple words, GST is an indirect tax levied on the supply of goods and services.
GST Law has replaced many indirect tax laws that previously existed in India.

WHAT CHANGES DOES GST BRING IN?

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Before GST, tax on tax was calculated and tax was paid by every purchaser including the
final consumer. The taxation on tax is called the Cascading Effect of Taxes.
GST avoids this cascading effect as tax is calculated only on the value add. at each
transfer of ownership

WHAT ARE THE COMPONENTS OF GST?

There are 3 applicable taxes under GST: CGST, SGST & IGST.
 CGST: Collected by the Central Government on an intra-state sale (Eg: Within
Maharashtra)

 SGST: Collected by the State Government on an intra-state sale (Eg: Within

Maharashtra)

 IGST: Collected by the Central Government for inter-state sale (Eg: Maharashtra
to Tamil Nadu)

ILLUSTRATION:
A dealer in Maharashtra sells goods to a consumer in Maharashtra worth Rs. 10,000. The
GST rate is 18%: comprising CGST of 9% and SGST of 9%.
In such cases, the dealer collects Rs. 1800 and of this amount, Rs. 900 will go to the
Central Government and Rs. 900 will go to the Maharashtra government.
Now, let us assume the dealer in Maharashtra had sold the goods to a dealer in Gujarat
worth Rs. 10,000.
The GST rate is 18% comprising of only IGST. In such case, the dealer has to charge Rs.
1800 as IGST. This IGST revenue will go to the Central Government.

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