Basic knowledge of tally 7.2 pdf

Fixed asset Investment. Loans and advance Loan liability. Miscellaneous expenses Provisions. Retained earning Reserves and surplus. Purchase account Sales account. Secured loan Stock in hand. Suspense Unsecured account. Current asset:. It is converted into cash with in a year. Bills receivable. Direct expenses:.

These are the expenses which are directly related to manufacturing of goods. Wages, factory rent, heating, lighting etc. Indirect expense:. These are the expenses which are indirectly related to manufacturing of goods. Salary, rent, stationery, advertisement, printing. Depreciation: Decrease the value of the asset. Sundry debtors: The person who is the receiver or customer.

Sundry creditors: The person who gives or supplier. Expenses Outstanding or Unpaid expenses or Expenses due:. Expenditure incurred during current year but the amount on which is not yet paid.

Added to the expenditure on the debit side and entered on the liability side. Income received in advance or Income received but not earned.

Income received during the current year but not earned or a part of which relates to the next year. Deducted form the concerned income on the credit side and entered on the liability side. Prepaid advance or Expenses or Prepaid expenses. Expenditure paid during current year but not incurred or a part of which relates to the next year is called expenditure prepaid. Deducted form the concerned expenditure on the debit side and entered on the assets side. Income outstanding or income earned but not received or Income accrued.

Income outstanding means income earned during the current year but the amount on which is not yet received added to the concerned income on the credit side and entered on the asset side. Gateway of Tally-Accounts info-ledger-create. Opening stock. Stock in hand. Purchase account. Purchase return. Fright charges. Direct expenses. Carriage inwards or Purchases. Cartage and coolie. Manufacturing wages. Coal, gas, water. Oil and fuel.

Factory rent, insurance, electricity, lighting and heating. Sales account. Indirect expenses. Postage and telegrams. Telephone charges. Rent paid. Rates and taxes. Audit fees. Interest on bank loan. Interest on loans paid. Bank charges. Legal charges. Printing and stationery. General expenses. Sundry expenses. Discount allowed. Carriage outwards or sales. Traveling expenses. Bad debts. Repair renewals. Motor expenses.

Depreciation on assets. Interest on investment received. Indirect income. Interest on deposit received. Interest on loans received. Commission received. Discount received. Rent received. Dividend received. Bad debts recovered. Profit by sale of assets. Sundry income. Loan from others. Loan Liabilities. Bank loan. Bank overdraft. Bank OD. Bills payable. Current Liabilities. Sundry creditors.

Mortgage loans. Secured loans. Expense outstanding. Income received in advance. Other liabilities. Capital account. Cash in hand. Cash at bank. Bank account. Fixed deposit at bank. Current asset. Sundry debtors. Closing stock. Stock of stationery. Loose tools. Fixed asset. Fixtures and fittings. Motor vehicles.

Plant and machinery. Land and building. Leasehold property. Prepaid expenses. Income outstanding. Current assset. Trading account : Buying and selling of goods.

Receiving aspect Giving aspect Cr. Direct Income. Freight charges. Lorry hire. Manufacturing expenses. Factory rent, fuel power. Gross profit transfer to profit and loss account. To Profit and loss account: Actual profit and loss of the business. Indirect expenses or payments. Indirect income or receipts. Gross profit. Postage and Telegram.

Rate and taxes. Insurance paid. Bad debts received. Net loss. Carriage outward sales. Net profit. Balance sheet: Actual financial position. Expenses outstanding. Plant machinery. Gateway of tally-Accounting voucher. F4 Contra: Records funds transfer between cash and bank accounts. Deposit into bank or Opened bank account Cr.

Withdraw form bank Cr. F5 Payment: Record all bank and cash payments. Paid or Give Dr. F6 Receipt: Records all receipts into bank or cash accounts. Received or Borrow or Take Cr. F7 Journal: Records adjustments between ledger accounts. F8 Sales: Records all sales. F9 Purchase: Records all purchase. Journalize the following transactions. Commenced business with cash Rs. Deposit into bank Rs. Bought office furniture Rs. Soled goods for cash Rs.

Purchased goods form Mr X on credit Rs. Soled goods to Mr Y on credit Rs. Received cash form Mr. Y on account Rs. Paid cash to Mr X Rs. Received commission Rs.

Received interest on bank deposit Rs. Paid into bank Rs. Paid for advertisement Rs. Purchased goods for cash Rs. Sold goods for cash Rs. Paid salary Rs. Gateway of tally-Account info-Ledger-Create. Gateway of tally — Accounting voucher. Type of account. Comes in. Goes out. Office furniture. Sundry creditor. Credit all income. Interest on bank deposit. Debit all expenses. Cr cash.

Indirect expense. Inventory information. Gateway of Tally-Inventory information-Unit of measure. Gateway of tally —Inventory information-Godown. Gateway of tally-Inventory information-Stock group. Gateway of tally — Inventory information-Stock item. To View. Gateway of tally-Stock summary. On Raman commenced business with cash of Rs. He further introduced Land and Building costing Rs. On Purchased Vehicle and Patents Rs.

On He deposited Rs. On Purchased from Cadbury Company. On Purchased from Paras. Forum Home. Popular Threads. Recent Posts. Unreplied Threads. Post New Topic.

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Login at CAclubindia. CAclubindia India's largest network for finance professionals. User Name. Remember Me Forgot Password? Alternatively, you can log in using: Login with Facebook. Login with Google. Site Search. Amish Mohunta March 21, at PM. Unknown September 6, at AM. Journal Entries Examples. Journal Entries of VAT. Journal Entries of TDS. How to Introduce Yourself in an Accounting Interview. Journal Entries of Sales. How to Pass Journal Entries for Purchases.