Tally Final Project

Unfil ed Notes

PRACTICAL EXERCISES" 2

Recording Transactions of

Sample Data of "Swayam

Agencies Pvt. Ltd."

The following example shows how to record transactions in Tally .ERP 9

:Mrs Soumya Satpathy, an MBA from BHUBANESWAR , started her own agency called SWAYAM AGENCIES PVT. LTD. on Apr il 1, 2008, to deal in the wholesale trade of sta bilizers and pumps of different capacities.

:Mrs Soumya Satpathy wants to maintain her accounts using Tally.ERP 9. She maintains the books of account un der the accrua l system of accounting.

Transactions recorded for Swayam Education by Mrs Soumya Satpathy for the year 2008- 2009 are as follows :

You are required to:

• Record the transactions

• Prepare financia l sta tement

CREATION OF COMPANY-SWAYAM EDUCATION-LEVEL- I

Field Data to be Entered

Directory Accept what is displayed bydefault

Name

Mailing Name

Address

E-mail Address Use Indian VAT

Applicable

From VATTinLocal Sales Tax Number

Inter-State Sales Tax

Number

Income

Tax

NumberCurrency Symbol

Maintain

F

inancia

l Year

from

Books

b

Unfil ed Notes

eginning fromTallyVault Password

Use Security Control

Swayam Agencies Pvt. ltd. Swayam Agencies Pvt. ltd. At: Janpath, Bhunaneswar,Orissa, INDIA PIN:754001

swayam [email protected]

Yes

01.04.2008

11111111111

This field is automatically skipped.

55555555

ABCDE 1111A

Rs

Accounts with Inventory

01-04-2008

01-04-2008

Skip the field (Leave blank)

No

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Unfil ed Notes

CHART OF ACC OUI\'TS- Swayam Agenci es Pvt Ltd.

SI. No. Ledger Under Group

AssetsCell Phone Fixed AssetsComputer Fixed AssetsElectrical Fittings Fixed AssetsFurniture & Fixtures Fixed AssetsMotor Vehic les Fixed AssetsData Tech Services Local DebtorsJava Trading Company Local DebtorsSeacrest Trading Company Outstation Soft Touch Traders Outstation State Trade Corporation, Outstation Sun-Shine Traders Outstation Bills Receivable Current AssetsPrepaid Insurance Current AssetsSalary Advance Loan&Advance Security Deposit Deposit(Asset)ICICI Bank Bank AccountPetty Cash Cash in Hand

LiabilitiesInput VAT @12.5 per cent Duties & TaxesInput VAT @ 4 per cent Duties & TaxesOutput CST @ 4 per cent Duties & TaxesOutput VAT @ 4 per cent Duties & TaxesOutput VAT @ 12.5 per cent VAT Adjust ment Ale

Duties & TaxesDuties & Taxes

Electricity Charges Payable ProvisionsRent Expenses Payable ProvisionsSalary Expenses Payable ProvisionsVAT Payable ProvisionsA 2 Z Traders Local CreditorsIcon Enterprises Outstation Pacific Merchants Outstation WinTech Information Outstation X-Tech Services Outstation Bills Payable Current

CapitalSoumya Satpathy Capital Capital AccountsSoumya Satpathy Drawings Capital Accounts

Page : 2 SWAYAM

Unfil ed Notes

Revenue

Expenses

Sales@ 12.5 per cent Sales Accounts

Sales @ 4 per cent Sales Accounts

Sales-CST Sales Accounts

Discount Received Indirect Income

Interest Received Indirect Income

Input CST@ 4 per cent Tax On Purchase

Purchase@ 12.5 per cent Purchase Account

Purchase @ 4 per cent Purchase Account

Purchase - CST Purchase Account

Carriage Inward Expenses Direct Expenses

Advert isement Expenses Indirect Expenses

Bank Charges Indirect Expenses

Conveyance Expenses Indirect Expenses

Depreciation Expenses Indirect Expenses

Donation Expenses Indirect Expenses

Electricity Expenses Indirect Expenses

Exhibition Expenses Indirect Expenses

Insurance Expenses Indirect Expenses

Interest Due Indirect ExpensesPrinting & Stationery Indirect Expenses

Unfil ed Notes

Rent Expenses

Expenses

Salary Expenses

Indirect Expenses

Shop Maintenance Expenses Indirect Expenses

Telephone Expenses Indirect Expenses

Tally.ERP9Book Page: 3www .Tally9Book.com

SWAY.AM


Unfil ed Notes

1) 1-4-2009

List of Transactions :(SAMPLE EXERCISES)APRIL 2009

Mr. Swayam Satpathy started a Swoyam Agencies by bringing in Capital of Rs.15,00,000 by cheque and deposited the same in ICICI Bank by openi ng a new account.

Note : Mr. Swayam Satpathy wants to have separate Vouchers for Bank Payment and Receipts. He also wants separate Serial Numbers to be displayed for Bank Receipt (i.e. BK-REC I 001108-09 )and Bank Payment (i.e.BK-PMT I 0011 08-09 ).Hence, Two new Voucher Types - Bank Payment under Payment and Bank Receipt under Receipt - have to be created.

Step 1 : Create Voucher Type 'Bank Receipt'Create the Bank Receipt under Receipt Vouc her Type :

1. Go to Gateway of Tally.ERP 7Accounts Info 7 Voucher Type 7 Create

2. The Voucher Type creation screen is divided into three sections depending on the various settings

3. Give the name of the new voucher type, e.g., Bank Payment.

=·

ifiif·flj

£W.encl!S 4ieh$i

x

The Complete Voucher Creation Screen displays as shown :

(al/as) :Bank Payment

I

Type or VoucherAbbr

Gener al

. Pd yment: BK-PMT

Print afte1 saving Voucher ? No

No me of Class

Melhod of Voucher Numbering ? Autom atic

Use Advance Configuration ? Yes

Use EFFECTIVE Dales for Vouchers ?

Make 'Oplional' as defaul1? No

Use Comrnon Nanation?

YesNa11a1ions for each enlry

? Noltert1t1on Secondil

Unfil ed Notes

Starting Nurrberw1atn or NumencalPanPrefill wlttl ZERO

NO. BK.PMT/1/08-09

Restan Nun1be1lng Prefix Details Suffix DetailsApplicable

Starting Particulars From

Numbe1Applicable

From

Particulars

ApplicableF1om

Particulars

l·Apr-20061

Y••rly

1-Apr-2008 BK PMT/ 1·Apr-2008 108-09

C•lculator

4. Likewise create Bank Receipt Voucher Type as displayed above.

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.

Unfil ed Notes

Step 2:Make an Entry of the Transaction in a Bank Receipt Voucher.

1. Go to Gateway of Tally.ERP 7 Accounting Vouchers 7 F6 : Receipt 7 Select Bank Recei

Voucher Type list to view Bank Receipt Voucher entry screen.

! .... . . x-= ·l:U.NO BK-REC/1108-09 1·Apr-2008

Tuesday

Account ICICI BankCur&/ · 15.00,000.00 DtP:irttcul:irs Amount

sw.-iyam Satpathy C:ipital Aic 15,00.000.00Cur &I : 15,00.000.00 Ct

Narration: 15.00.000.00Ch.No. :187962 being cheque deposited in ICICIBani\.

Acc@pt '?Yes •r No

C clll tor ODBC Server -

2) 3-4-2009M r. Swayam withdrew Rs.50,000 cheque for Shop Expenditure from ICICI Bank . ( Cheque No- 123451)Step 1:Make an Entry of the Transaction in a Contra Voucher.Go to Gateway of Tally.ERP 7 Accounting Vouchers 7 F4 : Contra to view the Contra Voucher Sere Enter the Transaction as shown below :

-.· . !•·. 1 r .-·1, • "" " lioolf l•U l'l..'Il'·''"" ,.•.!

··..... x

"" No.1 3-Apr-2008Thursday

Account · CashCur Bal . 50,000.00 D rParti cul ars Amou nt

ICICIB:ink

50,000.00Cw &/ . 14,50,000.00 Dr

Narration:

50.000.00Ch. No. 12345 1 being cash withdrawn ror Shop Expenditure.

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Unfil ed Notes

.:.11cul:ito1 ODBC Servef

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Accept ?

Yes o No

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Unfil ed Notes

3) 5-4-2009M r. Swayam purchased Furniture and Fixture worth Rs. 1,50,000 for the Shop by cheque. {Ch. No- 123452)

Step 1 : Create Voucher Type 'Bank Payment'

Create the Bank Payment under Paymen t Voucher Type :

Go to Gateway of Tally.ERP 7 Accounts Info 7 Voucher Type 7 Create to bring up the vouchcreation screen.1. Name: Bank Payment2. Type of Voucher : Select Payment from the list of Voucher Types.3. Method of Voucher Numbering ? :Select Automatic from Type of Numbering list. 4. Use Advanced Configuration : Yes5. Prefix Details - Particulars : type BK-PMT/6. Suffix Details - Particulars :type /08-09

Note: See the voucher creation Screen of Receipt Voucher in transaction SI. No-1

Step 2:Make an Entry of the Transaction in a Bank Payment Voucher.

Go to Gateway of Tally.ERP 7 Accounting Vouchers 7 FS :Bank Payment to view the Bank P Voucher Screen and Enter the Transaction as shown below:

Account : ICICI B:inkCur &I . 16.00,000.00 DrPartieul<1rs Amo

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

Narration:Ch.No :123452 being amount paid tor Furniture and FiXture.

1.50.000.001.50.000

4) 8-4-2009M r. Swayam rented a prem i ses on 1-4-2009 for his bus iness at Rs. 3,500 per month . He paid a Security Deposi t of Rs.25,000 by cheque. (Ch. No-123453)Step 1:Make an Entry of the Transaction in a Bank Payment Voucher.

Go to Gateway of Tally.ERP 7 Accounting Vouchers 7 FS :Bank Payment to view the Bank PVoucher Screen and Enter the Transaction as shown below :

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-· "l•lit 1.... • "' .1·

-= No BK PMT/2 08--09 8-Apr-2008Tuesday

Account . 1c1c1 BankParticulars

Sec urity DepositCur Bal : 25.000.00 Dr

Narration:Ch . No 123453 being amount paid ror security Deposit towards aPremises on Rent.

25.000.0025,0

Acc• pt ?

C lculator ODBC Stnver -

5) 10-4-2009Mr. Swayam issued a cheque to purchase the follow i ng Assets. (Ch . No-123454)

Assets I Cost Rate of DepreciationsCell Phone I Rs.5,500 15%

Computer I Rs. 25,000 60%Electrical Fitt i ngs I Rs. 5,000 10%Motor Vehicle ( 2 Whee ler) I Rs. 40,000

15%


Go to Gateway of Tally.ERP -7 Accounting Vouchers -7 FS :Bank Payment to view the Bank Payment Voucher Screen and Enter the Transaction as shown

• [IIll&!:J(Zl r:::rn• No. BK..PMT/3'08-0S tO-Apr-2008

Thursday

Aecount : ICICI B nk

Cell PhoneCJ.Jr Bal · S. 0.00 Dr

ComputerCur Bal . 25.000.00

DtElectri c31 F itting s

CJ.Jr Bal . 5.000.00

DrMotor Vehicle C 2 Wheel er)

Cur Bal 40.000.00 Dt

5.500.00

25,0075.50

C:>lcul:uor ODBC server


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Unfil ed Notes

6) 12-4-2009Mr. Swayam has appo1nted the foIIowing peo )l e.Name Des ignation Monthly Rahul Bhatt Sales 4,000Jairam Salesman 3,500Shi shir Mathur Accountant 2 ,500Ajith V Nair Clerk 1.500

Ajith is also in charge of Petty Cash and submitting the statement of Expenses at the end of every monty.

I N ote : No E ntry i s req u i r ed b eca u s e t h i s i s n o t an Acc o un t i ng Transa c ti o n .

7) 20-4-2009

Mr.Swayam urch

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

Item Quantity Rate Value Input VAT TotalH i gh Capacity Stabilizers

100 600 60,000 12.5% 67,500

STEP-1:Change the Method of Vo ucher Numbering as Manual In Purchase Voucher :

1. Gateway of Tally.ERP -7 Accounts Info -7 Vouchers Type -7 Alter2. Select "Purchase" from the list of Vouchers Types.3. In third section, change the Method of Vouc her Numbering to 'Manual' .4. Prevent Duplicate -YES.5. Retain the other fields as they are - Press CTRL+A ( Save the

existing options}

STEP-2:Make an entry of the transaction In a Purchase Voucher :Go to Gateway of Tally.ERP Accounting Vouchers F9 :Purchase to view the Purchase Voucherand Enter the Transaction as shown below :

1. Click the As Invoice button (The entry has to be recorded as a Purchase Invoice with Item wise)

2. Click theItem Invoice button3. Type P-A2Z-01 in Purchase Bill No.4. Press F2 to change the Voucher Date to 20-4-2009.

Enter the Purchase Transaction as shown below :

Ref. :No . P -A2Z--0 1 20-Apr-2008

Sunday

Party's Ale Name: A2Z TrndersCurrent Balance :Purchase Ledger : Pm clH>se@ 12.5 .VAT/T sx Clssa: Purch'1ses@ 12.5%Name. of Item Quantity Rate p er

Am ount

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Unfil ed Notes

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

Input VAT @12.5% 12.50 % T,500.00

N a rration:

Page: 8www.Tallv9Book. com

67,501).(}0

SWAYAM

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8) 21-4-2009

Mr.Swayam urch

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

Item Quanti Rote Value Input VAT TotalHiqh Capacity 100 400 40,000 12.5% 45,000Open Well Pumps 50 150 75,000 4% 78,000Submersible Pumps 100 200 2 4% 2 ,08

Gross Total 3,31,000

STEP-1:Make an entry of the transaction in a Purchase Vouc her :Go to Gateway of Tally.ERP Ac counting Vouchers F9 :Purchase to view the Purchase Voucher and Enter the Transaction as shown below :

1. Click the As Invoice button (The entry has to be recorded as a Purchase Invoice with Item wise)2. Click the Item Invoice button3. Type P-A2Z-02 in Purchase Bill No.4. Press F2 to change the Voucher Date to 20-4-2009.5. Press F12 : Configure & Change the option " Use Common Ledger Ale for Item Allocation" to

remove the Purchase Ledger next to Party's Ale Name option in Purchase Voucher}

Configure Invoices I Oelivery Hotes t Orders

Accept Supplementary Details ? Yes(Address Details, 0eS(Jalch

Delails etc)

Use Common Ledger Ne for Item .AJlocationUse Defaults for Bill Allocat ionsUse Excise FormalUse Additional Descriplion(s) for Item Name.AJlow separate Buyer and Consignee names

? Yes? Ho? Ho? Ho

6. Party's Ale Name :Select A'JZ Traders.7. Name of Item: Low Capacity Stabilisers.8. Quantity : 100 Nos.9. Rate :400.10. Amount: Amount of 40,000 is automatically displayed11. Press Enter to view the Acc ounting Details scree.12. In the Accounting Details screen, select Purchase@ 12.5% f rom the

list of Ledger Accounts.


Accounting Details for : High Capacity StabilisMsUpto: Rs. 40,000.00

DrP"rticul rs VAT/Tax Class Amount

Purchse@ 12.6% Purch ses @ 12.5 o 40,000 . 00Cur Bal : 1,00,000.00 Dr

4 0 , 000.oo

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" •

No 1

Account · c:ishCur Bal : 4!>.500.00 Dr

I x12-Apr-:2008

Tuesday

Particulars Amount

carrl:ige Inward ExpensuCur Bal. 500.00 Dr

Narratjon:being the amount paid towards Carriage Inward Expenses on Purchasemade on 20-4-2006 and 21-4-2006 .

500.00

500.00_

Accept '?

Yes , No

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13. Retain the amount displayed and accept the Accounting Details screen.

As per above procedure or steps, Enter other Two Items as shown in below screen :

21.A

pt ..2008Monday

Name of lreni 011.Jntl Rate er A m

11,11 u,..aarr s..tlh15

Open W ell Putrt p$

S• 111&1al>le Pumps

Input VAT@\I '•lnp •lt VAT @12.5"+

Na-n ation.

100 Nos. 400.00 ll•s..l0.000.00

50 Nos. 1,500.00 lies.

75.000.0-0

100 Nos. 2.000.00 llu.250 Nos

9) 22-4-2009Mr. Swayam paid Carriage Inward Expenses of Rs.500 in cash on purchase made on 20-4-2009 and 21-4-2009.Step 1:Make an Entry of the Transaction in a Payment Voucher.

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

d Ente.r..

t.h.e T

.r.a.nsaction as

..s..hown below :


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nd

-· ... I


10) 27-4-2009M r. Swa am t ransfer red Rs. 10,000 to Pett Cash from Cash to meet the da to da ex enses.Step 1:Make an Entry of the Transaction in a Contra (F4) Voucher .

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

!::\ T ally 9

(cl Tally Sohnlons FZ·LLC. 1988 2006 TallyGo ld Mu fti Use1

hnp:··wJMly$oht1ions.com Sl. No.: 2007f :Pnnl f:Export

IQ:Upload••:J:lim:J••

I!!.: Helpx

NO.2 27-Apr-2008sunoay

Ar.coum ·P•tty C3shC,.,, &J · 10.000.00 Dr

P;1rticulnrs Amount

CoshCur&/ : 3'J.W0.00Dr

10.000.00

Narrabon:Amount transfer from Cash to Petty Casn to meet tile day to day

expenses.

10.000.00

Accept?

Y •s No

11) 28-4-2009M r. Swayam wi thdrew Rs.5,000 in cash for personal use.

Step 1:Make an Entry of the Transaction in a Payment Voucher.

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

I• -' •fl • ... ,L' JU&.J. •..... x•"' No.2 28-Apr-2008

Monday

Account . CuhCur Bal · 44,501>.00 DrPartieu1:1rs

Amount

Swam Satpath y On.wing IVc

5,000.00

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Cur Bal : 5,000.00 Dr

Narration:

5,000.00Being amount withdrawn by Mr.Swayam Satpathy ror persona l use.

Acc ept ?

Yes r No


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12) 30-4-2009

VAT adjustment entry.

At the end of evel}' month, VAT Adjustment entl}' has to recorded. To record the Adjustment , Input and Out Tax accounts are Credited and Debited, respectfully to nullify their Balances and the net balance is trans VAT Adjustment account. A Debit Balance of VAT Adjustment account indicates that the excess Inputbeing carried forward to the next month and a Credit Balance indicates that VAT is Payable.

As per Accounting conventionsThe Journa l Entry for the above transaction is as follows .

VAT Adjustment Ale Dr. Rs.23,500

To lnputVAT@12 .5% Cr.To lnputVAT@4%

Cr.

Rs.12,500Rs.11,000

As per Tally.ERP conventionsCreate Ledger VAT Adjustment Ale (under Duties and Taxes) as details below :

Go to Gateway of Tally.ERP 7 Accounts Info 7 Ledger 7 Create to view the ledger creation screen.

1. Name : VAT Adjustment A/c2. Under :Duties & Taxes3. Type of Duty I Tax : Select VAT from Types of Duty I Tax lust4. VAT I Tax Class : Not Applicable5. Inventory Values are affected ? : No.6. Accept ? Yes or No ? 7 Press Y or Enter

Note : Since the VAT/Tax Class is not applicable the percentage of calculation automatically appears as 0.

(To know the Tax amount that is to be adjusted, go to Gateway of Tally.ERP> Display> Statutory Re VAT Reports> VAT Computation)

x

Pa 1 Iic u I a r sSw ly.lm Agencies

Assessil hle

TaxAm

Purchases

B. lnpul Tax

Excess Input Credit Bl()Ughl F0tward

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II II II IIIIInput VAT@ 4%

Tot alInput Ciedit

2 75 000.00

11 ODO.DO3 2


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P3rtlcul;irs Debit C redit

By VAT Adjustment 23,500.00Cur Bal · 23,500.00 Dr

To Input VAT @12.5 12,500.00Cur Bal : 0.00 Cr

To Input VAT @-4% 11,000.00Cur Bal : 0.00 Cr

Narration: 23.500.00

23.500.00

VAT Adjustment entry for April 2006 .Accept ?

Y es Jr No

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Step-1 :Make an Entry of the Transaction in a Journal Voucher .Go to Gateway of Tally.ERP 7 Accounting Vouchers 7 F7 : Journal to view the Journal Voucher Sci'

Enter the Transaction as shown below :

x30-Apr-2008

weooes day

13) 30-4-2009Make an entry for the Salary Due of all staff for the month of April 2009. The deta ils are as follows:

Name Salary Paid Number of DaysRahul Bhatt Rs. 2,400 18Ja i ram Sengupta Rs, 2,100 18Shishir Mathur Rs. 1,500 18Ajith V Nair Rs. 900 18

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

Make a Transaction in Journal Voucher ( F7):

Go to Gateway of Tally.ERP 7 Accounting Vouchers 7 F7 : Journal to view the Journal \Screen and Enter the Transaction as shown below :

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information

Nom e Salary Paid Nu mber of DaysRahul Bhatt Rs. 2,400 18Ja i ram Sengupta Rs, 2,100 18Shishir Mathur Rs. 1,500 18Ajith V Nair Rs. 900 18

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14) 1-5-2009

MAY 2009

Mr. Swayam paid Salaries through cheque for April 2009 . ( Ch. No-123455). The details are as follows :

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

Cost/Pr ofit Centre$ M anageme nt

Maintain Payroll ? No

Maint ain Cost CentresUse Cost Centre for Job Costing ? NoMore than ONE Pay roll / Cost Category ? HoUse Pre-defined Cost Cen1reAllocatons during Ent ry ? No

Cost CenterCost Centers are the Cost objects for which Expenses are incurred under various account heads and t control can be effectively established by keeping track of the Cost at one place.

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

Example of Cost Centers• Departments of an organization . For example, Finance, Marketing,

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

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

Step-1Create Cost Centers :Go to Gateway of Tally.ERP 7A ccounts Info 7 Cost Centers 7 Multiple Cost Centers 7 Create to vmulti Cost Centers creation screen.

1. Under Cost Centre : All Items2. Enter the details as shown in the following table...

SI.No. Name of Cost Center Under

1) Rahul Bhatt Pri2) Jairam Sengupta Primar3) Shishir Mathur Primar4) Ajith V Nair Primar

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S.N o. Name of Cost Centre Under

1. RahulBhatt a Primary2. Jairam Sengupta o Primary3. Shlshlr Mathur o Primary4. Ajit V Niiir o Primary

Accept ?

Y es m No

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x

Under Cost Centre D All Items

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

Step-2Create Salary Expenses (under Indirect Expenses) :

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

Led er AlterationName

(OlilM}: Salary Ex penses

Under : Indirect Ex penses

Inventory values are affectedCost cent res are applicable

? Ho<fB>

Step-2Make en entry of the Transaction in a Bank Payment voucher (FS) :

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

voucher type list2. Press F2 to change the Voucher Date to 1-5-2009.3. Select "ICICI Bank" in the Header Account> then Select "Salary

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

Name of Cost Center AmountRahul Bhatt 2,400Jairam Sengupta 2, 100Shishir Mathur 1,500Ajith V Nair 900

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P<irtic ulars Amount

Salary ExpensesCi..•r Bal : 6.900.00 DrRahul Bhan 2,400.00 DrJairam Sengupt a 2.100.00 DrShishir Mathur 1,500.00 DrAjit V Nai1 900.00 D1

Narration:

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

6.900.00

6,900.00

Accept?

Y e s CJr No

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4. Press Enter to accept the Cost Center allocation entries. The Bank Payment Voucher sc reen will be as below ...

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

15) 2-5-2009Mr. Swayam paid Rs.2500 in Cash for stationery , printing invo i ces and vouchers to Cannon Traders.

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

Make an entry of the Transaction in a Payment Voucher ( F5 ) :

Header Accou nt :Cash Acc ountLine Acc ount ( Particulars): Printing & stationery Expenses -7 Rs.2500

To see the Payment Vo ucher Screen (See Transaction SL.No. - 9 )

16) 3-5-2009Mr. Swayam received the statement of expend iture from the Petty Cashier for April 2009. the statement is as follows :Nom e of Expenses Amount Printing & Stati onery 2 ,500Cell phone bill 600Shop maintenance Expenses 450Conveyance expenses for Marketing Execut ives

Pag e : 16www.Tallv9Book.com

SWAYAM

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Note :Set the field Cost Center are applicable ? to No at the time of Ledger creation for all the Ledgers mentioned above..Step 1:Make an Entry of the Transaction in a Payment Voucher.Go to Gateway of Tally.ERP 7 Accounting Vouchers 7 F5 : Payment to view the Cash Payment Screen and Enter the Transaction as shown below ·

Header Account : Petty CashLine Accounts( Particulars) : Printing & Stationery Expenses -7 Rs.2500

Telephone Expenses -7 Rs.600Shop Maintenance Expenses -7 Rs.450 Conveyance Expenses -7 Rs.250

Acc ount · Petty cashCur Bal: 6.200.00 DrParticulars

Amount

Printing & Stationery Ei:pensesCur Bal : 5,000.00 Dr

Telephone Expenses

2,500.00

600.00Cur Bal · 600.00 DrShop Maintenanc Expenses 450.00

Cur Bal : 450.00 Dr

Conv ey ance 250.0 0Cur Bal: 250.00 Dr

Narration: 3,800.00

Accept?

Y es o• No

17) 6-5-2009Mr. paid Rs. 3,500 by cheque towards Shop Rent for April

2009. {Ch. No-123456) Note: Set the field Cost Center are applicable

? to No at the time of creating Ledger Printing Shop Rent. Make an

entry of the Transaction in a Payment Voucher ( FS ) : Bank

Payment

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Header Account : ICICI BankLine Account ( Particulars) : Rent Expenses -7 Rs.3,500

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


SWAYAM

This document is produced by free version of Pri.nt2Flash . Visit www.print2flash .com for more i11formation

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18) 10-5-2009Mr. Swayam so Id the foIIowing i tems f or Cash . The deta1·1s are as f0IIows :Item Quantity Rote Value Output

VATTotal

High Capacity 50 850 42 12.5% 47,813Open Well Pumps 15 1700 2 4'Yo 26,520

Gross 74.333

Step-1:Make an entry of the transaction in a Sales Voucher ( FS) :

Go to Gateway of Tally.ERP Accounting Vouchers FS : Sales displays the Sales Voucher screen.

Note:1. Ensure that As Invoice and Item Invoice buttons are activated. This is

because the sales entry has to be recorded as an item invoice.2. Ensure that in F 12 ( Configuration) in Sales Voucher ,

18-A) 15-5-2009Mr. Swayam issued a cheque to A2Z Traders for Rs.3,96,500 after deducting the Discount of Rs. 2,000. He receive a Discount as he agreed to pay the entire Bill Amount . (Ch No-123457)

19) 28-5-208Mr. Swayam withdrew Rs. 4,000 in cash for personal use.

20) 30-5-2009Mr. Swayam received the statement of Expenditure from the petty Cashier for May 2009 . the statement is as follows :

Nome of Expenses A mount (Rs.}Cell phone bill 1,500Shop maintenance Expenses 200Conveyance expenses for Marketing 800

21) 31-5-2009


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Pag e : 18www.Tallv9Book. com

SWAYAM



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22)3-6-2009

JUNE 2009

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

23)4-6-2009Mr. Swayam issued a cheque of Rs. 11,000 on the Petty Cashier . (Cheque No-123458)

24)6-6-2009Mr. Swayam paid Salary for May 2009 by cheque. (Ch . No-123459)

25)8-6-2009Mr. Swayam purchased the following Goods from Dust Merchants on Credit for 30 days . Interest

IS to be caIcula ted at 10'%o per annumItern Quantit Rate Value Input VAT TotalHigh Capacity Stabilizers 200 650 1,30,00 12.5% 1.46.250Open Well Pumps 300 1600 4,80

,0004Jo 4,99,200


26)10-6-2009Mr. Swayam paid Carriage Inward of Rs. 400 in cash .27)12-6-2009Mr. Swayam Sold the following Items to Me Trading Company on credit for 45 days . Interest charted is at 15% per annum, if payment is not made within the credit period.

28)15-6-2009Mr. Swayam withdraw Rs. 5,000 in cash for personal use.

29)20-6-2009Mr. Swayam Deposited cash Rs. 40,000 to ICICI Bank.

30)27-6-2009Mr. Swayam paid Rs. 2000 in cash to Mr. Jairam Sengupta as Salary advance.


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


SWAYAM


Untiled Notes Page

Nome of Expenses Amount (Rs .)Insurance premium for the period 1-7-2009 to 30-6-2009 2,400Conveyance Expenses of Marketing Executives 600Shop Maintenance Expenses 550Electricity Expenses 500

Item Pure hoseQty .

Free TotolQty.

Rote Volue Input VAT Totol Amt.

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

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31)28-6-2009

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

32)29-6-2009Mr. Swayam SoId the f oIIow1nq terns to You Tech Services on ered"1t.Item Q R

oteVolue Output

VATTotol

Law Capacity 100 550 55,00 12.5% 61,875Gross Totol 61.875

33)30-6-2009VAT adjustment entry.

34)3-7-2009

JULY 2009

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

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

35)6-7-2009Mr. Swayam paid Rent in cash for June 2009.

36)14-7-2009Mr. Swayam Purchased the following Items under a Sales Office. He paid by cheque. The offer is as follow...

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

• 0n Purc hase of 5 Iaw Copacity Stab1l1zer , 1LCS .1s given Free of Cost

Untiled Notes Page

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SWAYAM


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1 4 1 24 1 400 I 8000 1 12.5 0 9,000

Gross Total 45,563

Untiled Notes Page

Law Capacity Stabili zers 1 20

37}19-7-2009

Mr. Swayam paid by cheque to Dust Merchants towards Bill dated 8-6-2009.

Note : Due to late payment ( 11 days),Mr. Swayam has to pay Interest (applicable at the rate of 10% per annum) in addition to the Bill amount.

38}20-7-2009Mr. Swayam i ntroduced a Sale Offer and sold the following items on Cred it to Me Trad ing Company and You Tech Services.Item Sold

Qty.

Free TotalQ

Rote Value Output VAT

Total Amt

ME TRADING CONiANYH i gh Capacity Stabilizers

20 2 22 750 15,000 12.5% 16,875

Law Capacity Stabili zers

5 1 6 450 2250 12.5 o 2,531

Gross Total

19,406YOU TECH SERVICESHigh Capacity

Stabilizers30 3 33 750 22500 12.5 25,312


15 3 18 450 6750 12.5 7,594

Gross 32,906

39}22-7-2009Mr. Swayam received a cheque from Me Trading Company and You Tech Services in settlement of bills dated 20-7-2009 .

40)28-7-2009Mr. Swayam rece i ved cheque from You Tech Services towards the bill dated 29-6-2009

Page : 21 SWAYAM

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Name of Expenses Amount {Rs.)Advertisement Expenses incurred 1500

Conveyance Expenses of market ing executives 600Donat i on to Charitable Trust. 600

Shop Maintenance Expenses 550

Electricity Expenses 500

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Untiled Notes Page

41)29-7-2009

Mr. Swayam rece i ved the statement of Expenditure from the Petty Cashier for the month end , July 2009. the Statement is as follows :

42)31-7-2009VAT Adjustment Entry.

Bank ReconciliationThis i s a route procedure of systematica lly adjust ing the account balance reported by a Bank with the account balance on the company's books and explain i ng any differences . Differences can occur if deposits are not yet cleared or cheques are not yet presented .Bank Statement for the per i od 1-4-2009 to 4-8-2009 send to Swayam Agenc i es from ICICI Bank is as follows...

Date PARTICULARS DE W B

2-4-2009

Ch. No-187962 depsited (Mr. Swayam

15,00,000 15.00,000

3-4- Ch. No- 123451 (Cash 50,000 14,45,0008-4- Ch. No- 123452 (Furniture and 1,50,000 13,00,00010-4- Ch. No- 123453 (As Security 25,000 12,75,00013-4- Ch. No- 123454 (For Asset 75,500 11,99,5002-5- Ch. No- 123455 (Salaly Paid) 6.900 11.92.6006-5- Ch. No- 123456 (Rent Paid) 3,500 11,89,10019-5- Ch. No- 123457 (Issued to A2Z 3,96,500 7,92,600

4-S-2009

Ch. No- 123458 (Cash withdrawn for Petty Cash)

11,000 7,81,600

7-S- Ch. No- 123459 (Salary Paid) 11,500 7,70, 10020-6- Cash (cash deposited) 40,000 8, 10,1004-7- Ch. No- 123460 (Salary paid) 11.000 7,99. 10017-7- Ch. No- 123461 (Purchase made) 45,563 7,53,5371-8- Ch. No- 123462 (Issued to Dust 6,47,395 1,06, 1423-8- Cheque deposited ( Me Trading 52,312 1,58,4544-8- Cheque deposited (You Tech 61,875 2,20,329To reconci l e all transactions relating to Bank Accounts.

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Untiled Notes Page

SWAYAM


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Untiled Notes Page

43}5-8-2009

AUGUST 2009

Mr. Swayam paid Salaries by cheque for July 2009.

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

44)8-8-2009Mr. Swayam paid Rent in cash for July 2009.

45)10-8-2009M r. Swayam paid Rs. 7,500 in cash to the petty cashier .

46)12-8-2009Mr. Swayam sold the following items to Help Trad i ng Corporat ion and allowed a trade discount at the rate of 5'YoItem Quant

ityRate D

isc.Value Output

VATTotal

H i gh Capacity Stabi lizers 90 900 5% 76 ,950 12.5% 86,569

47)27-8-2009Mr. Swayam received cheque from Seacreast Trading Corporat i on towards the bill dated 12-8- 2009.

48}28-8-2009Mr. Swayam received a cheque from Me Trading Company towards the bill dated 12-6-2008 and also the interest for 32 days.

49)29-8-2009Mr. Swayam received the statement of expenditure from Petty Cashier for the month end 31-8- 2009. The statement is as follows :Name of Expenses Amount

(Rs .)Cell Phone Bill paid 800Conveyance Expenses of market ing executives

600Shop Maintenance Expenses 400Electricity Expenses 350

50}31-8-2009VAT Adjustment Entry.

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Untiled Notes Page

SWAYAM


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Untiled Notes Page

51)4-9-2009

SEPTEMBER 2009

Mr. Swayam paid Salaries and Rent by cheque for August 2009.Note : Adjust the Salary Advance of Rs.500 ( 3 rd installment) given lo Mr.Jairam Sengupta.

52)6-9-2009Mr.Swayam urch

ase t e lol

owing tems f rom A2Z Traders on re 1t.

Item Quanti Rat Value Input TotalLaw Capacity 110 50 5

5,00012.5'Yo 61,875

Submersible Pumps 50 210 1,05,000

4'Yo 1,09,200Gross 1,71,075

53)10-9-2009Mr. Swayam Sold the following Items to You Tech Services and drew a Bill of exchange for 30 daysW h.ICh was dulIy acceptedb1yth em.Item Quanti Rate Value Output TotalLaw Capacity 100 550 55,000 12.5% 61,875Submersible Pumps 50 2500 125000 4% 130000

Gross 1,91,875

54)15-9-2009Mr. Swayam withdrew Rs.6,000 from ICICI Bank for personal use.

55)17-9-2009Mr. Swayam S0Id the f oIIowing items on cred'1t of 45 days to Me Trad'mg

Corporat1on .Item Quanti Rate Value Output TotalHigh Capacity 80 700 56,00 12.5% 63,000Submersible Pumps 60 2300 13800 4'Yo 143520

Gross 2,06,520

56)22-9-2009Mr. Swayam returned 10 Low Capacity Stabilizers to A2Z Traders purchased on 6-9-2009 as they were not according to the specifications .

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Untiled Notes Page

Page : 24SWAYAM


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Untiled Notes Page

57)28-9-2009Mr. Swayam received the statement of expenditure from Petty Cashier for the month-end , 30-9- 2009 . The Statement is as follows:

Nome of Expenses AmouConveyance Expenses of Marketing 600Shop Maintenance Expenses 550Electricity Expenses 350

58)29-9-2009Mr. Swayam received Bank Statement from ICICI Bank and found that Rs.550 had been charged as half yearly Bank Charges.


60)

1-10-2009

OCTOBER'2009

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

yRote Value Output

VATTotal

Hiqh Capacity Stabilizers

15 700 10500 12.5% 11,813Submersible Pumps 10 230

023000

4% 23,920Gross Total

35,73361}3-10-2009Mr. Swayam issued a cheque of Rs. 7,500 to Petty Cashier .62}4-10-2009Mr. Swayam paid Salaries and Rent of Shop by cheque for September 2009.Note : Adjust the Salary Advance of Rs. 500 ( 41h Installment ) given lo Mr.Jairam Sengupta .

63}10-10-2009Mr. Swayam deposited the Bills Rece ivable drawn on You Tech Services which was duly honored .

64}20-10-2009Mr. Swayam soId the f oIIowing items to HeI J

Trad.ing Corporat 1on on ere 1t.Item I Rote I Value I Output VAT Total

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Untiled Notes Page

Open Well Pumps I 200 1900 I 3,8o ,ooo l 4 o 3,95,200Gross 3,95,200

Page : 25 SWAYAM


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Name of Expenses Amount (Rs .)Conveyance Expenses of Marketing Executives 600Shop Maintenance Expenses 450

Electricity Expenses 400Cell Phone Bill 1500

Untiled Notes Page

65)21-10-2009Mr. Swayam issued a cheque to A2Z Traders towards the purchase made on 6-9-2009

66}28-10-2009Mr. Swayam received a cheque from Me Trading Company against Sales made on 17-9-2009.

67}29-10-2009Mr. Swayam received the statement of expenditure from the Petty Cashier for the month end ,

October 2009. The Statement is as follows :

68}

31-10-2009VAT adjustment entry.

69}

4-11-2009

NOVEMBER' 2009

Mr. Swayam paid Salaries and Rent by cheque for October 2009.70}5-11-2009Mr. Swayam issued a cheque of Rs. 8,000 to the Petty Cashier.71)10-11-2009Mr. Swayam received a cheque

10-2009.72}12-11-2009

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

Mr. Swayam started Trad'mg in a New Product and pure hased 'Iff rom D'1rty Enterpr1ses on eredi t.Item I Quantity I Rate I Value I Input VAT Total

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Untiled Notes Page

Electric Heater I 30 I 400 1 12,000 1 12.5 0 13,500

Gross 13,50074)

14-11-2009Mr. Swayam paid Rs.4 ,500 by cheque for the cell phone he purchased for his Sales Executive .

Page : 26SWAYAM


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75)15-11-2009

Untiled Notes Page

Mr. Swayam S0Id the f oIIowing items to HelIp Trad'mg Corporat1on on ere 1t.Item Quantity V alue Output

VATTotal

Open Well Pumps 50 1800

90,000 4% 93,600Gross Total 96,600

Note : Mr. Swayam asks lhe accountant to create a voucher class ·Sales@ 4%" and record the Sales in a Sales Voucher.Using voucher class eliminates lhe process of manually entering accounting details. Applicable VAT is also displayedautomatically.

76}29-11-2009Mr. Swayam received the statement of expenditure from the Petty Cashier for November 2009. The Statement is as follows :Nome of Expenses A mount (Rs.)Conveyance Expenses of Marketing Execut ives

600Shop Maintenance Expenses 500Electricity Expenses 300Cell Phone Bill 1100

77)


78)

4-12-2009

DECEMBER '2009

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

79)8-12-2009Mr. Swayam settled the bill dated 12-11-2009 of Dirty Enterprises by cheque.

80}10-12-2009Mr. Swayam withdrew Rs.10,000 from the Bank for personal use.

81}17-12-2009Mr. Swayam received a cheque from Help Trading Corporation in settlement of bill dated 15-11-2009.

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75)15-11-2009

Untiled Notes Page

82}18-12-2009Mr. Swayam Sold the following items for cash in an exhibition organized by V-Guard company.


SWAYAM


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Untiled Notes Page

83}19-12-2009Mr. Swayam paid Rs. 2500 in cash for the space provided in the exhibition .

84}29-12-2009Mr. Swayam received the statement of expenditure from the Petty Cashier for December 2009.The Statement is as follows :

Nome of Expenses Amount (Rs .)Conveyance Expenses of Marketing 600Shop Maintenance Expenses 450Electricity Expenses 400Cell Phone Bill 120085}31-12-2009VAT adjustment entry.

86}31-12-2009Provision entry to transfer ba lance from VAT Adjustment account to VAT Payable account.

JANUARY' 201087}1-1-2010Mr. Swayam paid Salaries and Rent by cheque for December 2009.

88}2-1-2010Mr. Swayam deposited Rs. 1,20,000 cash i n ICICI Bank

89}5-1-2010Mr. Swayam paid VAT due for December 2009 by cheque.

90}8-1-2010Mr. Swayam pure hased the f oIIowing items on ere 1t rom NeXT Serv1ces . or·1ssa.Item Quant

ityRote V Input

VATTotal

Submersible Pumps 50 1800 90,00

4% 93,600

91}12-1-2010

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Untiled Notes Page

Mr. Swayam decides to have a price list for his customers. The price

levels were decided on the basis of old and new customers and also the

volume of items purchased by them .

Page: 28 SWAYAM



Name of Expenses Amount (Rs.)

Cell Phone Bill paid 800

Conveyance Expenses of marketing executives 500



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PRICE LIST FOR OLD CUSTOMERSItems 0-20 D 20- D SO- DHigh Capacity Stabilizers 850 Nil 850 5% 850 7%Open Well Pumps 1600 2% 1600 5% 1600 6%

PRICE LIST FOR NEW CUSTOMERSItems 0-20 D 20- D SO- DSubmersible Pumps 2500 Nil 2500 4% 2500 8%

92}14-1-2010Mr. Swayam S0Id the f oIIowing items to S"1mpI1 e TouchTraders.Item Quanti

tyRate

Disc .

Value

Output VAT

Total

Submersible Pumps 30 2500

4'Yo 72,00

4% 74,880

93}15-1-2010Mr. Swayam withdrew Rs. 13,000 from ICICI Bank for persona luse.

94)20-1-2010Mr. Swayam withdrew Capital of Rs.5,00,000 from the firm by cheque. 95)25-1-2010Mr. Swayam received a cheque from Simple Touch Traders for Sales made on 14-1-2010.

96)30-1-2010

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


98}31-1-2010Provision entry to transfer balance from VAT adjustment account to VAT Payable account .


www.Tally9Book. ComPage : 29

SWAYAM


Untiled Notes Page

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99}3-2-2010

FEBRUARY'2010

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

100}4-2-2010Mr. Swayam paid Salaries and Rent by cheque for January 2010.

101}8-2-2010Mr. Swayam purchased the following items from Dust Merchants . Dust Merchants drew a bill ofexchanqe wh ich was acceptedb1yMr. swa am.Item Quantit Rote Value Input VAT TotalHiqh Capacity Stabilizers

50 500 25,000

12.5':.'o 28 ,125Open We ll Pumps 30 1500 4 4% 46,800

Gross Total 74,925

102}12-2-2010Mr. Swayam soId the f oIIowing items to Me Trad.ing Company on ere 1t.Item Quantit

yRote

Disc.

Value Output VA1

TotalHigh Capacity Stabilizers

30 850

5':.'o 24,225 12.5% 27,253Submersible Pumps 40 160

05':.o' 60,800 4% 63,232

Gross Total 90.485

103}14-2-2010Mr. Swayam pure hasedtheflolow1nq items f rom C eon Information Systems, H1y1derabad on cred it.Item Quantity Rote Value Input

CSlTotal

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

104)15-2-2009M r. Swayam withdrew Rs.5,000 from bank for personal use.


SWAYAM

Untiled Notes Page

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105)18-2-2010Mr. Swayam purchased the following items from Dirty Enterprises on credit.

Untiled Notes Page

Item IQuantity I Rote I ValueI Input VAT

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

Gross Total 68,640

106}25-2-2010Mr. Swayam sold the following items to Mumbai Ugly Trading Corporation (Govt.Dept.) on credit.Item I Quantity I Rote I Volue

Input TotalSubmersible Pumps I 40 I 2500 1 4% 1

,04,00Gros: 1,04,000Note : CST is exempted if the sale is made to government depar tmen t.

107)27-2-2010Mr. Swayam received the statement of expenditure from the petty cashier for the month end ,February 2010. The statement is as follows :Nome of Expenses Amount (Rs.)Cell Phone Bill paid 1300Conveyance Expenses of market ing 700Shop Maintenance Expenses 400Electricity Expenses 450

108)28-2-2010VAT Adjustment Entry.

109}

MARCH' 2010

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

110)10-3-2010Mr. Swayam honored the bills payab l e which was drawn by Dust Merchants by issuing a cheque .

lll}15-3-2010Mr. Swayam sold the following items on credit to Faithful Traders , Kerala.Item Quon Rot Output TotalHigh Capacity Stabilizers 30 850 4% 2Open well Pumps 50 155 4% 7

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105)18-2-2010Mr. Swayam purchased the following items from Dirty Enterprises on credit.

Untiled Notes Page

Page : 31 SWAYAM


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112)18-3-2010Mr. Swayam S0Id the f oIIowing items to HelIp Trad'mg Corporat1on on

Untiled Notes Page

Item Qua Rat Value Input TotalHigh Capacity 5 95 4750 12.5'Yo 5343Law Capacity 15 75 11250 12.5'Yo 12657

Gross 18,000113)Mr. Swayam withdrew Rs.5,000 from bank for personal use.

114)30-3-2010Mr. Swayam received the statement from the petty cashier for March 2010 . The Statement is as follows :

Name of Expenses Amount (Rs Cell Phone Bill paid 1800Conveyance Expenses of marketing 700Shop Maintenance Expenses 350Electricity Expenses 500


116)31-3-2010Provision entry to transfer ba lance from VAT adjustment account to VAT Payable account.

Provision EntriesAll Provision entries are depicted using a Journal voucher.Note : Provision Entries , Depreciation Entries and Adjustment Entries are all recorded on 31-3- 2010.

1)Shop Rent for March 2010.

2)Salaries for March 2010.

Page : 32 SWAYAM

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112)18-3-2010Mr. Swayam S0Id the f oIIowing items to HelIp Trad'mg Corporat1on on

Untiled Notes Page


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Untiled Notes Page

3)Electricity Bill charges for March 2010 is Rs. 350Depreciation Entries :

Sl.N

Asset name Value to be Dep

Date of

Purchas

Rate of

Depre

Depreciation

For 2009-201O1. Cell Phone-1 5,500 10-4- 15% 8252. Cell Phone-2 4,500 14-11- 7.5% 3383. Computer 25,000 10-4- 60% 15,0004. Electrical Fittings 5,000 10-4- 10% 5005. Furniture & Fixture 1,50,000 5-4- 10% 15,0006. Motor Vehicle 40,000 10-4- 15% 6,000

37,663

Adjustment Entries for Prepaid Expenses :All AdIJ' Ustment entries are dep.icted using a Journa vouc her.

Nature Payment

Period

Of Insurance

Amou

Prepaid Period

Prepa

Amount for

Insuranc

28-6-2009

1-4-2009 to

30-6-2010

2,400

1-4-2009 to

600 1,800

Other Adjustment Entries1)Transfer balance of withdrawals account to Mr. Swayom Satpathy Calcutta account.

Closing Entries :1)

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

******************************

Page : 33 SWAYAM

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Untiled Notes Page

more information

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Untiled Notes Page

PRACTICAL EXERCISES" 2

Assignment on Chapter :4 to 8

Recording Transactions of

Sample Data of "Swayam

Agencies Pvt. Ltd."

The following example shows how to record transactions in Tally .ERP 9

:Mrs Soumya Satpathy, an MBA from BHUBANESWAR , started her own agency called SWAYAM AGENCIES PVT. LTD. on Apr il 1, 2008, to deal in the wholesale trade of sta bilizers and pumps of different capacities.

:Mrs Soumya Satpathy wants to maintain her accounts using Tally.ERP 9. She maintains the books of account un der the accrua l system of accounting.

Transactions recorded for Swayam Education by Mrs Soumya Satpathy for the year 2008- 2009 are as follows :

You are required to:

• Record the transactions

• Prepare financia l sta tement

CREATION OF COMPANY-SWAYAM EDUCATION-LEVEL- I

Field Data to be Entered

Directory Accept what is displayed bydefault

Name

Mailing Name

Address

E-mail Address Use Indian VAT

Applicable

From VATTinLocal Sales Tax Number

Inter-

State

Sales Tax

Number

Income

Tax

NumberCurrency Symbol

Maintain

F

inancia

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Untiled Notes Page

l Year from

Books beginning

fromTallyVault Password

Use Security Control

Swayam Agencies Pvt. ltd. Swayam Agencies Pvt. ltd. At: Janpath, Bhunaneswar,Orissa, INDIA PIN:754001

swayam [email protected]

Yes

01.04.2008

11111111111

This field is automatically skipped.

55555555

ABCDE 1111A

Rs

Accounts with Inventory

01-04-2008

01-04-2008

Skip the field (Leave blank)

No

Page : 1 SWAYAM



CHART OF ACC OUI\'TS- Swayam Agenci es Pvt Ltd.

SI. No. Ledger Under Group

AssetsCell Phone Fixed AssetsComputer Fixed AssetsElectrical Fittings Fixed AssetsFurniture & Fixtures Fixed AssetsMotor Vehic les Fixed AssetsData Tech Services Local DebtorsJava Trading Company Local DebtorsSeacrest Trading Company Outstation Soft Touch Traders Outstation State Trade Corporation, Outstation Sun-Shine Traders Outstation Bills Receivable Current AssetsPrepaid Insurance Current AssetsSalary Advance Loan&Advance Security Deposit Deposit(Asset)ICICI Bank Bank AccountPetty Cash Cash in Hand

LiabilitiesInput VAT @12.5 per cent Duties & TaxesInput VAT @ 4 per cent Duties & TaxesOutput CST @ 4 per cent Duties & TaxesOutput VAT @ 4 per cent Duties & TaxesOutput VAT @ 12.5 per cent VAT Adjust ment Ale

Duties & TaxesDuties & Taxes

Electricity Charges Payable ProvisionsRent Expenses Payable ProvisionsSalary Expenses Payable ProvisionsVAT Payable ProvisionsA 2 Z Traders Local CreditorsIcon Enterprises Outstation Pacific Merchants Outstation WinTech Information Outstation X-Tech Services Outstation Bills Payable Current

CapitalSoumya Satpathy Capital Capital AccountsSoumya Satpathy Drawings Capital Accounts

Page : 2 SWAYAM


Untiled Notes Page37

Revenue

Expenses

Sales@ 12.5 per cent Sales Accounts

Sales @ 4 per cent Sales AccountsSales - CST Sales Accounts

Discount Received Indirect IncomeInterest R.eceived Indirect Income

Input CST@ 4 per cent Tax On Purchase

Purchase @ 12.5 per cent Purchase Account

Purchase @ 4 per cent Purchase Account

Purchase - CST Purchase AccountCarriage Inward Expenses Direct Expenses

Advertisement Expenses Indirect ExpensesBank Charges Indirect Expenses

Conveyance Expenses Indirect Expenses

Depreciation Expenses Indirect Expenses

Donation Expenses Indirect Expenses

Electricity Expenses Indirect ExpensesExhibition Expenses Indirect Expenses

Insurance Expenses Indirect Expenses

Interest Due Indirect Expenses

Printing & Stationery Indirect Expenses


Rent Expenses

Expenses

Salary Expenses

Expenses

Shop Maintenance Expenses Indirect Expenses

Telephone Expenses Indirect Expenses

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1) 1-4-2009

List of Transactions :(SAMPLE EXERCISES)APRIL 2009

Mr. Swayam Satpathy started a Swoyam Agencies by bringing in Capital of Rs.15,00,000 by cheque and deposited the same in ICICI Bank by openi ng a new account.

Note : Mr. Swayam Satpathy wants to have separate Vouchers for Bank Payment and Receipts. He also wants separate Serial Numbers to be displayed for Bank Receipt (i.e. BK-REC I 001108-09 )and Bank Payment (i.e.BK-PMT I 0011 08-09 ).Hence, Two new Voucher Types - Bank Payment under Payment and Bank Receipt under Receipt - have to be created.

Step 1 : Create Voucher Type 'Bank Receipt'Create the Bank Receipt under Receipt Vouc her Type :

1. Go to Gateway of Tally.ERP 7Accounts Info 7 Voucher Type 7 Create

2. The Voucher Type creation screen is divided into three sections depending on the various settings

3. Give the name of the new voucher type, e.g., Bank Payment.

=·

ifiif·flj

£W.encl!S 4ieh$i

x

The Complete Voucher Creation Screen displays as shown :

(al/as) :Bank Payment

I

Type or VoucherAbbr

Gener al

. Pd yment: BK-PMT

Print afte1 saving Voucher ? No

No me of Class

Melhod of Voucher Numbering ? Autom atic

Use Advance Configuration ? Yes

Use EFFECTIVE Dales for Vouchers ?

Make 'Oplional' as defaul1? No

Use Comrnon Nanation?

YesNa11a1ions for each enlry

? Noltert1t1on Secondil


Starting Nurrberw1atn or NumencalPanPrefill wlttl ZERO

NO. BK.PMT/1/08-09

Restan Nun1be1lng Prefix Details Suffix DetailsApplicable

Starting Particulars From

Numbe1Applicable

From

Particulars

ApplicableF1om

Particulars

l·Apr-20061

Y••rly

1-Apr-2008 BK PMT/ 1·Apr-2008 108-09

C•lculator

4. Likewise create Bank Receipt Voucher Type as displayed above.


SWAYAM


www.Tally9Book. Com

.


Step 2:Make an Entry of the Transaction in a Bank Receipt Voucher.

1. Go to Gateway of Tally.ERP 7 Accounting Vouchers 7 F6 : Receipt 7 Select Bank Recei

Voucher Type list to view Bank Receipt Voucher entry screen.

! .... . . x-= ·l:U.NO BK-REC/1108-09 1·Apr-2008

Tuesday

Account ICICI BankCur&/ · 15.00,000.00 DtP:irttcul:irs Amount

sw.-iyam Satpathy C:ipital Aic 15,00.000.00Cur &I : 15,00.000.00 Ct

Narration: 15.00.000.00Ch.No. :187962 being cheque deposited in ICICIBani\.

Acc@pt '?Yes •r No

C clll tor ODBC Server -

2) 3-4-2009M r. Swayam withdrew Rs.50,000 cheque for Shop Expenditure from ICICI Bank . ( Cheque No- 123451)Step 1:Make an Entry of the Transaction in a Contra Voucher.Go to Gateway of Tally.ERP 7 Accounting Vouchers 7 F4 : Contra to view the Contra Voucher Sere Enter the Transaction as shown below :

-.· . !•·. 1 r .-·1, • "" " lioolf l•U l'l..'Il'·''"" ,.•.!

··..... x

"" No.1 3-Apr-2008Thursday

Account · CashCur Bal . 50,000.00 D rParti cul ars Amou nt

ICICIB:ink

50,000.00Cw &/ . 14,50,000.00 Dr

Narration:

50.000.00Ch. No. 12345 1 being cash withdrawn ror Shop Expenditure.

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.:.11cul:ito1 ODBC Servef


Accept ?

Yes o No

SWAYAM

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3) 5-4-2009M r. Swayam purchased Furniture and Fixture worth Rs. 1,50,000 for the Shop by cheque. {Ch. No- 123452)

Step 1 : Create Voucher Type 'Bank Payment'

Create the Bank Payment under Paymen t Voucher Type :

Go to Gateway of Tally.ERP 7 Accounts Info 7 Voucher Type 7 Create to bring up the vouchcreation screen.1. Name: Bank Payment2. Type of Voucher : Select Payment from the list of Voucher Types.3. Method of Voucher Numbering ? :Select Automatic from Type of Numbering list. 4. Use Advanced Configuration : Yes5. Prefix Details - Particulars : type BK-PMT/6. Suffix Details - Particulars :type /08-09

Note: See the voucher creation Screen of Receipt Voucher in transaction SI. No-1


Go to Gateway of Tally.ERP 7 Accounting Vouchers 7 FS :Bank Payment to view the Bank P Voucher Screen and Enter the Transaction as shown below:

Account : ICICI B:inkCur &I . 16.00,000.00 DrPartieul<1rs Amo

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

Narration:Ch.No :123452 being amount paid tor Furniture and FiXture.

1.50.000.001.50.000

4) 8-4-2009M r. Swayam rented a prem i ses on 1-4-2009 for his bus iness at Rs. 3,500 per month . He paid a Security Deposi t of Rs.25,000 by cheque. (Ch. No-123453)Step 1:Make an Entry of the Transaction in a Bank Payment Voucher.

Go to Gateway of Tally.ERP 7 Accounting Vouchers 7 FS :Bank Payment to view the Bank PVoucher Screen and Enter the Transaction as shown below :


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-· "l•lit 1.... • "' .1·

-= No BK PMT/2 08--09 8-Apr-2008Tuesday

Account . 1c1c1 BankParticulars

Sec urity DepositCur Bal : 25.000.00 Dr

Narration:Ch . No 123453 being amount paid ror security Deposit towards aPremises on Rent.

25.000.0025,0

Acc• pt ?

C lculator ODBC Stnver -

5) 10-4-2009Mr. Swayam issued a cheque to purchase the follow i ng Assets. (Ch . No-123454)

Assets I Cost Rate of DepreciationsCell Phone I Rs.5,500 15%

Computer I Rs. 25,000 60%Electrical Fitt i ngs I Rs. 5,000 10%Motor Vehicle ( 2 Whee ler) I Rs. 40,000

15%


Go to Gateway of Tally.ERP -7 Accounting Vouchers -7 FS :Bank Payment to view the Bank Payment Voucher Screen and Enter the Transaction as shown

• [IIll&!:J(Zl r:::rn• No. BK..PMT/3'08-0S tO-Apr-2008

Thursday

Aecount : ICICI B nk

Cell PhoneCJ.Jr Bal · S. 0.00 Dr

ComputerCur Bal . 25.000.00

DtElectri c31 F itting s

CJ.Jr Bal . 5.000.00

DrMotor Vehicle C 2 Wheel er)

Cur Bal 40.000.00 Dt

5.500.00

25,0075.50

C:>lcul:uor ODBC server


SWAYAM


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6) 12-4-2009Mr. Swayam has appo1nted the foIIowinq peo )l e.Name Des ignation Monthly Rahul Bhatt Sales 4,000Jairam Salesman 3,500Shi shir Mathur Accountant 2 ,500Ajith V Nair Clerk 1.500

Ajith is also in charge of Petty Cash and submitting the statement of Expenses at the end of every monty.

I Note : No E ntry i s req u i r ed b eca u s e t h i s i s n o t an Acc o un t i ng Transa c ti o n .

7) 20-4-2009

Mr. Swayam urch

ase t e lolow1nq tems f rom A2Z Traders on Cre 1t.

Item Quantity Rate Value Input TotalH i gh Capacity Stabilizers

100 600 60,000

12.5% 67,500

STEP-1:Change the Method of Vo ucher Numbering as Manual In Purchase Voucher :

1. Gateway of Tally.ERP -7 Accounts Info -7 Vouchers Type -7 Alter2. Select "Purchase" from the list of Vouchers Types.3. In third section, change the Method of Vouc her Numbering to 'Manual' .4. Prevent Duplicate -YES.5. Retain the other fields as they are - Press CTRL+A ( Save the

existing options}

STEP-2:Make an entry of the transaction In a Purchase Voucher :Go to Gateway of Tally.ERP Accounting Vouchers F9 :Purchase to view the Purchase Voucherand Enter the Transaction as shown below :

1. Click the As Invoice button (The entry has to be recorded as a Purchase Invoice with Item wise)2. Click the Item Invoice button3. Type P-A2Z-01 in Purchase Bill No.4. Press F2 to change the Voucher Date to 20-4-2009.

Enter the Purchase Transaction as shown below :

Ref. :No . P -A2Z.-0 1 20-Apr-2008

Sunday

Party's Ale Name: A2Z TrndersCurrent Balance :Purchase Ledger : Pm clH>se@ 12.5 .VAT/T sx Clssa: Purch'1ses@ 12.5%Name. of Item Quantity Rate p er

Am ount

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

Input VAT @12.5% 12.50 % T,500.00

N a rration:


67,501).(}0

SWAYAM

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8) 21-4-2009

Mr.Swayam urch

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

Item Quant Rot Value Input VAT

TotalHiqh Capacity Stabi 100 400 40,000 12.5% 45,000Open Well Pumps 50 150 75,000 4% 78,000Submersible Pumps 100 200 2 4% 2 ,08


STEP-1:Make an entry of the transaction in a Purchase Vouc her :Go to Gateway of Tally.ERP Ac counting Vouchers F9 :Purchase to view the Purchase Voucher and Enter the Transaction as shown below :

1. Click the As Invoice button (The entry has to be recorded as a Purchase Invoice with Item wise)

2. Click the Item Invoice button3. Type P-A2Z-02 in Purchase Bill No.4. Press F2 to change the Voucher Date to 20-4-2009.5. Press F12 : Configure & Change the option " Use Common Ledger Ale

for Item Allocation" toremove the Purchase Ledger next to Party's Ale Name option in Purchase Voucher}

Configur e Invoices I Delivery H otes 1 Ord ers

Accept Supplementary Details ? Yes(Address Details, 0eS(Jalch

Delails etc)

Use Comm on Ledger Ne for Item AllocationUse Defaults for Bill

Allocat ions Use

Excise FormalUse AdditionalDescriplion(s) for Item NameAllow separate Buyer and Consignee names

? Yes? Ho? Ho? H o

6. Party's Ale Name :Select A2Z Traders.7. Name of Item: Low Capacity Stabilisers.8. Quantity : 100 Nos.9. Rate :400.10. Amount: Amount of 40,000 is automatically displayed11. Press Enter to view the Acc ounting Details scree.12. In the Accounting Details screen, select Purchase@ 12.5% from the list of

Ledger Accounts.

Accounting Details for : High Capacity StabilisMsUpto:

Rs.40,000.00 Dr

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P;trticul; VAT/Tax Class A

Purch;,,se@ 12.6o/o Purch;,,ses @ 12.5,.-o 40,000 Cur Bal : 1,00,000.00 Dr

40 , 000 . oo l


SWAYAM


" • I xNo 1 12-Apr-:2008

Tuesday

Account · c:ishCur Bal : 4!>.500.00 DrParticulars Amount

carrl:ige Inward ExpensuCur Bal. 500.00 Dr

Narratjon:being the amount paid towards Carriage Inward Expenses on Purchasemade on 20-4-2006 and 21-4-2006 .

500.00

500.00

Accept '?

Yes "I No

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13. Retain the amount displayed and accept the Accounting Details screen.

As per above procedure or steps, Enter other Two Items as shown in below screen :

21.A

pt..2008Monda y

Nam e of lreni 011.Jntl Rate er

11,11 u,..aarr s..tlh15

Open W ell Putrt p$

S• 111&1al>le Pumps

Input VAT@\I'•lnp •lt VAT @12.5"+

Na-nation .

100 Nos. 400.00 ll•s..l0.000.00

50 Nos. 1,500.00 lies.

75.000.0-0

100 Nos. 2.000.00 llu.250 Nos

9) 22-4-2009Mr. Swayam paid Carriage Inward Expenses of Rs.500 in cash on purchase made on 20-4-2009 and 21-4-2009.Step 1:Make an Entry of the Transaction in a Payment Voucher.

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

..d Ente

.r..t.h.e T

.r.a.nsaction as

..s..

hown below :


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10) 27-4-2009M r. Swa am t ransfer red Rs. 10,000 to Pett Cash from Cash to meet the da to da ex enses.Step 1:Make an Entry of the Transaction in a Contra (F4) Voucher .

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

!::\ T ally 9

(cl Tally Sohnlons FZ·LLC.1988 2006

TallyGold Mu fti Use1

hnp:··wJMly$oht1ions.com Sl. No ·2007f:Pnnl f:Export

IQ:Upload••:J:lim:J ••

I!!.:Helpx

NO.2 27-Apr-2008sunoay

Ar.coum ·P•tty C3shC,.,, &J · 10.000.00 Dr

P;1rtic ulnrs Amount

CashCur&/ : 3'J.W0.00Dr

10.000.00

Narrabon:Amount transfer from Cash to Petty Casn to meet tile day to day

expenses .

10.000.00

Accept?

Y•s No

11) 28-4-2009M r. Swayam wi thdrew Rs.5,000 in cash for personal use.

Step 1:Make an Entry of the Transaction in a Payment Voucher.

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

Account . CuhCur Bal · 44,500.00 DrPartiCU l3rS

Swam Satpathy On.wing A.leCur Bal : 5,000.00 Dr

Narration:Being amount withdrawn by Mr.Swayam Satpathy

ror persona l use.

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Amount

5,000.00

5,000.00

Accept ?

Yes ur No

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12) 30-4-2009


At the end of evel}' month, VAT Adjustment entl}' has to recorded. To record the Adjustment , Input and Out Tax accounts are Credited and Debited, respectfully to nullify their Balances and the net balance is trans VAT Adjustment account. A Debit Balance of VAT Adjustment account indicates that the excess Inputbeing carried forward to the next month and a Credit Balance indicates that VAT is Payable.

As per Accounting conventionsThe Journal Entry for the above transaction is as follows .

VAT Adjustment Ale Dr. Rs.23,500

To lnputVAT@ 12.5% Cr.To lnputVAT@4%

Cr.

Rs.12,500Rs.11,000

As per Tally.ERP conventionsCreate Ledger VAT Adjustment Ale (under Duties and Taxes) as details below :

Go to Gateway of Tally.ERP -7 Accounts Info -7 Ledger -7 Create to view the ledger creation screen.

1. Name : VAT Adjustment A/c2. Under :Duties & Taxes3. Type of Duty I Tax : Select VAT from Types of Duty I Tax lust4. VAT I Tax Class : Not Applicable5. Inventory Values are affected ? : No.6. Accept ? Yes or No ? -7 Press Y or Enter

Note : Since the VAT/Tax Class is not applicable the percentage of calculation automatically appears as 0.

(To know the Tax amount that is to be adjusted, go to Gateway of Tally.ERP > Display > Statutory Re VAT Reports> VAT Computation)

x

P a 1 Iic u I a r sSw ly.lm Agencies

Assessil hle

TaxAm

Purchases

B. lnpul Tax

Excess Input Credit Bl()Ughl F0tward

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II II II IIIIInput VAT@ 4%

Tot alInput Ciedit

2 75 ODO.OD

11 ODO.DO3

,75.00023.500.


SWAYAM


www.Tally9Book. Com


Step-1 :Make an Entry of the Transaction in a Journal Voucher.Go to Gateway of Tally.ERP 7 Accounting Vouchers 7 F7 : Journal to view the Journal Voucher Sci'Enter the Transaction as shown below :

x30-Apr-

weooesd ay

P3rtlcul;irs Deb C

0Cur Bal · 23,500.00 Dr

To Input VAT @12.5%Cur Bal: 0.00 Cr

To Input VAT @4%Cur Bal : 0.00 Cr

Narration: 2 3 ,VAT Adjustment entry for April 2006 .

0.00 1

2,500.011,000.0

Accept ?

Yes r No

13) 30-4-2009Make an entry for the Salary Due of all staff for the month of April 2009. The deta ils are as follows :

Name Salary Paid Number of DaysRahul Bhatt Rs. 2,400 18Ja i ram Sengupta Rs, 2,100 18Shishir Mathur Rs. 1,500 18Ajith V Nair Rs. 900 18

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

Make a Transaction in Journal Voucher ( F7):

Go to Gateway of Tally.ERP 7 Accounting Vouchers 7 F7 : Journal to view the Journal \Screen and Enter the Transaction as shown below :

Page : 13SWAYAM


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information

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14) 1-5-2009

MAY 2009

Mr. Swayam paid Salar i es through cheque for Ap ril 2009 . ( Ch . No-123455). The details are as follows :Nome Salary Paid Number of DaysRahul Bhatt Rs. 2,400 18Ja i ram Sengupta Rs, 2,100 18Shishir Mathur Rs. 1,500 18Ajith V Nair Rs. 900 18

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

Cost/Pr ofil Centres M an agem ent

Maintain Payroll ? No

Maintain Cost CentresUse Cost Cent re for Job Costing ? NoMore than ON E Payroll/ Cost Category ? HoUse Pre-defined Cost Can1reAllocatons during Ent ry ? No

Cost CenterCost Centers are the Cost objects for which Expenses are incurred under various account heads and t controlcan be effectively established by keeping track of the Cost at one place.

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

Example of Cost Centers• Departments of an organization . For example, Finance, Marketing,

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

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

Step-1Create Cost Centers :Go to Gateway of Tally.ERP 7A ccounts Info 7 Cost Centers 7 Multiple Cost Centers 7 Create to vmulti Cost Centers creation screen.

1. Under Cost Centre : All Items2. Enter the details as shown in the following table...

ST:°No. Name of Cost Center Under-

1) Rahul Bhatt P2) Jairam Sengupta P3) Shishir Mathur P4) Aj ith V Nair P

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Pag e : 14www.Tallv9Book. com

SWAYAM


-

S.N o. Name of Cost Centre Under

1. RahulBhatt2. Jairam Sengupta3. Shlshlr Mathur4. Ajit V Niiir

a Primaryo Primaryo Primaryo Primary

Accept ?

Y es m No

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x

Under Cost Centre D All Items

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

Step-2Create Salary Expenses ( under Indirect Expenses) :

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

- -Led er Alteration

Name(Off/JS}

: Salary Ex penses

Under : Indirect Ex penses

Inventory values are affectedCost cent res are appli cable

? Ho<fB>

Step-2Make en entry of the Transaction in a Bank Payment voucher (FS) :

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

voucher type list2. Press F2 to change the Voucher Date to 1-5-2009.3. Select "ICICI Bank" in the Header Account> then Select "Salary

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

Name of Cost Center AmountRahul Bhatt 2,400Jairam Sengupta 2,100Shishir Mathur 1,500Ajith V Nair 900

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SWAYAM



P<irticulars Amount

Salary ExpensesCi..•r Bal : 6.!100.00 DrRahulBhan 2,400.00 DrJairam Sengupt a 2.100.00 DrShishir Mathur 1,500.00 DrAji1 V Nai1 900.00 01

Narration:

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

G.900.00

6,900.00

Accept?

Y e s CJr No

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4. Press Enter to accept the Cost Center allocation entries. The Bank Payment Voucher sc reen will be as below ...

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

15) 2-5-2009Mr. Swayam paid Rs.2500 in Cash for stationery , printing invoices and vouchers to Cannon Traders.

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

Make an entry of the Transaction in a Payment Voucher ( F5 ) :

Header Account :Cash Acc ountLine Acc ount ( Particulars) : Printing & stationery Expenses -7 Rs.2500

To see the Payment Voucher Screen (See Transaction SL.No. - 9 )

16) 3-5-2009Mr. Swayam received the statement of expend iture from the Petty Cashier for April 2009. the statement is as follows :Nom e of Expenses Amount Printing & Stati onery 2 ,500Cell phone bill 600Shop maintenance Expenses 450Conveyance expenses for Marketing Execut ives


SWAYAM


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Untiled Notes Page

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Note :Set the field Cost Center are applicable ? to No at the time of Ledger creation for all the Ledgers mentioned above..Step 1:Make an Entry of the Transaction in a Payment Voucher.Go to Gateway of Tally.ERP 7 Accounting Vouchers 7 FS : Payment to view the Cash Payment Screen and Enter the Transaction as shown below ·

Header Account : Petty CashLine Accounts( Particulars) : Printing & Stationery Expenses -7 Rs.2500

Telephone Expenses -7 Rs.600Shop Maintenance Expenses -7 Rs.450 Conveyance Expenses -7 Rs.250

Acc ount · Petty c ashCur Bal: 6.200.00 DrParticulars Amount

Printing & Stationery Ei:penses

2,500.0Telephone Expenses 600.00

Cur Bal · 600.00 DrShop Maintenanc Ex penses 450.00

Cur Bal : 450.00 Dr

Conv ey ance 250.00Cur Bal: 250.00 Dr

Narration: 3,800.00

A ccept ?

Yes o• No

17) 6-5-2009Mr. paid Rs. 3,500 by cheque towards Shop Rent for Apr i l

2009. {Ch. No-123456) Note :Set the field Cost Center are applicable

? to No at the time of creating Ledger Printing Shop Rent. Make an

entry of the Transaction in a Payment Voucher ( FS ) : Bank

Payment

Header Account : ICICIBankLine Account ( Part iculars) : Rent Expenses -7 Rs.3,500

Untiled Notes Page

www.Tally9Book. ComTo see the Bank Payment Voucher Screen (See Transaction SL.No. - 5)


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Untiled Notes Page

18) 10-5-2009Mr. Swayam so Id the foIIowinq i tems f or Cash . The deta1·1s are as f0IIows :Item Quantity Rote Value Output

VATTotal

Hiqh Capacity 50 850 42 12.5% 47,813Open Well Pumps 15 1700 2 4'Yo 26,520

Gross Total 74.333

Step-1:Make an entry of the transaction in a Sales Voucher ( FS):

Go to Gateway of Tally.ERP Accounting Vouchers FS : Sales displays the Sales Voucher screen.

Note:1. Ensure that As Invoice and Item Invoice buttons are activated. This is

because the sales entry has to be recorded as an item invoice.2. Ensure that in F 12 ( Configuration) in Sales Voucher ,

18-A) 15-5-2009Mr. Swayam issued a cheque to A2Z Traders for Rs.3,96,500 after deducting the Discount of Rs. 2,000. He receive a Discount as he agreed to pay the entire Bill Amount . (Ch No-123457)

19) 28-5-208Mr. Swayam withdrew Rs. 4,000 in cash for personal use.

20) 30-5-2009Mr. Swayam received the statement of Expenditure from the petty Cashier for May 2009 . the statement i s as follows :

Nome of Expenses Amount (Rs.}Cell phone bill 1,500Shop maintenance Expenses 200Conveyance expenses for Marketing 800

21) 31-5-2009

VAT adj ustment entry.

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Untiled Notes Page


SWAYAM


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Untiled Notes Page

22)3-6-2009

JUNE 2009

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

23)4-6-2009Mr. Swayam issued a cheque of Rs. 11,000 on the Petty Cashier . (Cheque No-123458)

24)6-6-2009Mr. Swayam paid Salary for May 2009 by cheque . (Ch . No-123459)

25)8-6-2009Mr. Swayam purchased the following Goods from Dust Merchants on Credit for 30 days . Interest

IS to be caIcula ted at 107o' per annumItern Quantity Rate Value Input VAT TotalHiqh Capacity Stabilizers 200 650 1,30,00 12.5% 1.46.250Open Well Pumps 300 1600 4

,80,004Jo 4,99,200


26)10-6-2009Mr. Swayam paid Carriage Inward of Rs. 400 in cash .27)12-6-2009Mr. Swayam Sold the follow ing Items to Me Trading Company on credit for 45 days . Interest charted is at 15% per annum, if payment is not made within the credit period.

28)15-6-2009Mr. Swayam withdraw Rs. 5,000 in cash for personal use.

29)20-6-2009Mr. Swayam Deposited cash Rs. 40,000 to ICICI Bank.

30)27-6-2009Mr. Swayam paid Rs. 2000 in cash to Mr. Jairam Sengupta as Salary advance.

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Untiled Notes Page

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


SWAYAM


Nome of Expenses Amount {Rs.)Insurance premium for the period 1-7-2009 to 30-6-2009 2,400Conveyance Expenses of Marketinq Executives 600Shop Maintenance Expenses 550Electricity Expenses 500

Item Pure hoseQty.

Free TotolQty .

Rote Volue Input VAT Totol Amt.

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

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Untiled Notes Page

31)28-6-2009

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

32)29-6-2009Mr. Swayam S0Id the f oIIowing tems to YOU Tech Services on ered"1t.Item Quantit

yRote Volue Output

VATTotol

Law Capacity 100 550 55,00 12.5% 61,875Gross Totol 61,875


34)3-7-2009

JULY 2009

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

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

35)6-7-2009Mr. Swayam paid Rent in cash for June 2009.

36)14-7-2009Mr. Swayam Purchased the following Items under a Sales Office. He paid by cheque. The offer is as follow...

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

• 0n Purc hase of 5 Iaw Copacity Stab1l1zer , 1LCS .1s given Free of Cost

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1 4 1 24 1 400 I 8000 1 12.5 0 9,000

Gross Total 45,563

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Law Capacity Stabili zers 1 20

37}19-7-2009

Mr. Swayam paid by cheque to Dust Merchants towards Bill dated 8-6-2009.

Note : Due to late payment ( 11 days),Mr. Swayam has to pay Interest (applicable at the rate of 10% per annum) in addition to the Bill amount.

38}20-7-2009Mr. Swayam i ntroduced a Sale Offer and sold the follow i ng items on Cred it to Me Trad ing Company and You Tech Services.Item Sold

Qty.

Free TotalQ

Rote

Value Output VAT

Total Amt

ME TRADING COMPANYH i gh Capacity Stabilizers

20 2 22 750 15,000 12.5% 16,875


5 1 6 450 2250 12.5 o 2,531

Gross Total

19,406YOU TECH SERVICESHigh Capacity

Stabilizers30 3 33 750 22500 12.5 25,312


15 3 18 450 6750 12.5 7,594

Gross 32,906

39}22-7-2009Mr. Swayam received a cheque from Me Trading Company and You Tech Services in settlement of bills dated 20-7-2009 .

40)28-7-2009Mr. Swayam rece i ved cheque from You Tech Services towards the bi ll dated 29-6-2009

Page : 21 SWAYAM

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41)29-7-2009Mr. Swayam rece i ved the statement of Expenditure from the Petty Cashier for the month end , July 2009. the Statement is as follows :Name of Expenses A mount Advertisement Expenses incurred 1500Conveyance Expenses of market ing 600Donat i on to Charitable Trust. 600Shop Maintenance Expenses 550Electricity Expenses 50042)31-7-2009VAT Adjustment Entry.

Bank ReconciliationThis i s a route procedure of systematica lly adjust ing the account balance reported by a Bank with the account balance on the company's books and explain i ng any differences . Differences can occur if deposits are not yet cleared or cheques are not yet presented .Bank Statement for the per i od 1-4-2009 to 4-8-2009 send to Swayam Agenc i es from ICICI Bank is as follows...

Date PARTICULARS DE W B

2-4-2009 Ch. No-187962 depsited (Mr. Swayam

15,00,000 15.00,000

3-4-2009 Ch. No- 123451 (Cash 50,000 14,45,0008-4-2009 Ch. No- 123452 (Furniture and 1,50,000 13,00,00010-4- Ch. No- 123453 (As Security 25,000 12,75,00013-4- Ch. No- 123454 (For Asset 75,500 11,99,5002-5-2009 Ch. No- 123455 (Salaly Paid) 6.900 11.92.6006-5-2009 Ch. No- 123456 (Rent Paid) 3,500 11,89,10019-5- Ch. No- 123457 (Issued to A2Z 3,96,500 7,92,600

4-S-2009 Ch. No- 123458 (Cash withdrawn for Petty Cash)

11,000 7,81,600

7-S-2009 Ch. No- 123459 (Salary Paid) 11,500 7,70, 10020-6- Cash (cash deposited) 40,000 8, 10,1004-7-2009 Ch. No- 123460 (Salary paid) 11.000 7,99. 10017-7- Ch. No- 123461 (Purchase made) 45,563 7,53,5371-8-2009 Ch. No- 123462 (Issued to Dust 6,47,395 1,06, 1423-8-2009 Cheque deposited ( Me Trading 52,312 1,58,4544-8-2009 Cheque deposited (You Tech 61,875 2,20,329To reconci l e all transactions relating to Bank Accounts.

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SWAYAM


Item Quantity Rate Disc. Value Output VAT Total

High Capacity Stabilizers 90 900 5% 76 ,950 12.5% 86,569

Name of Expenses Amount (Rs .)Cell Phone Bill paid 800

Conveyance Expenses of marketing executives 600Shop Maintenance Expenses 400Electricity Expenses 350

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43}5-8-2009

AUGUST 2009

Mr. Swayam paid Salaries by cheque for July 2009.

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

44)8-8-2009M r. Swayam paid Rent in cash for July 2009.

45)10-8-2009M r. Swayam paid Rs. 7,500 in cash to the petty cashier .

46)12-8-2009

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

47)27-8-2009Mr. Swayam received cheque from Seacreast Trading Corporation towards the bill dated 12-8-2009.

48}28-8-2009Mr. Swayam received a cheque from Me Trading Company towards the bill dated 12-6-2008 and also the interest for 32 days.

49)29-8-2009

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


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SWAYAM


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51)4-9-2009

SEPTEMBER 2009

Mr. Swayam paid Salaries and Rent by cheque for August 2009.Note : Adjust the Salary Advance of Rs.500 ( 3 rd installment) given lo Mr.Jairam Sengupta.

52)6-9-2009Mr. Swayam Purchased the f oIIow1nq terns f rom A2Z Traders on re 1t.Item Quanti Rat Value Input TotalLaw Capacity 110 50 5

5,00012.5'Yo 61,875

Submersible Pumps 50 210 1,05,000

4'Yo 1,09,200Gross 1,71,075

53)10-9-2009Mr. Swayam Sold the following Items to You Tech Services and drew a Bill of exchange for 30 dayswhich was duily acceptedb1yth em.Item Quanti Rate Value Output TotalLaw Capacity 100 550 55,000 12.5i'o 61,875Submersible Pumps 50 2500 125000 4i'o 130000

Gross 1

54)15-9-2009Mr. Swayam withdrew Rs.6,000 from ICICI Bank for personal use.

55)17-9-2009Mr. Swayam S0Id the f oIIowing items on cred'1t of 45 days to Me Trad'mg Corporat1on .Item Quanti Rate Value Output TotalHigh Capacity 80 700 5 12.5i'o 63,000Submersible Pumps 60 2300 13800 4'Yo 143520

Gross 2,06,520

56)22-9-2009Mr. Swayam returned 10 Low Capacity Stabilizers to A2Z Traders purchased on 6-9-2009 as they were not according to the specifications .

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Page : 24SWAYAM


Item Quantity Rote Value Output VAT TotalHiSu

h Capacity Stabilizers 15 700 10500 12.5% 11,813bmersible Pumps 10 2300 23000 4% 23,920

Gross Total 35,733

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57)28-9-2009Mr. Swayam received the statement of expenditure from Petty Cashier for the month-end , 30-9- 2009 . The Statement is as follows:

Nom e of Expenses AConveyance Expenses of Marketing 600Shop Maintenance Expenses 550Electricity Expenses 350

58)29-9-2009Mr. Swayam received Bank Statement from ICICI Bank and found that Rs.550 had been charged as half yearly Bank Charges.


60)

1-10-2009

OCTOBER'2009

Me Trading Company returned the following items , out of sales made on 17-9-2009 , as they were 1n excess of .its requirements .

g

61}3-10-2009Mr. Swayam issued a cheque of Rs. 7,500 to Petty Cashier .62}4-10-2009Mr. Swayam paid Salaries and Rent of Shop by cheque for September 2009.Note : Adjust the Salary Advance of Rs. 500 ( 41h Installment ) given to Mr.Jairam Sengupta .

63}10-10-2009Mr. Swayam deposited the Bills Receivab le drawn on You Tech Services which was duly honored .

64}20-10-2009Mr. Swayam soId the f oIIowinq items to He J Tradinq Corporat ion on eredit .

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I I Quant ity

Rote I Value I Output VAT TotalOpen

Well

Pumps I 200 1900 I 3,80 ,000 1 4 o 3,95,200Gross 3,95,200

Page : 25 SWAYAM


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65)21-10-2009Mr. Swayam issued a cheque to A2Z Traders towards the purchase made on 6-9-2009

66}28-10-2009Mr. Swayam received a cheque from Me Trading Company against Sales made on 17-9-2009.

67}29-10-2009Mr. Swayam received the statement of expenditure from the Petty Cashier for the month end ,October 2009. The Statement is as follows :Name of Expenses Amount (Rs Conveyance Expenses of Marketing 600Shop Maintenance Expenses 450Eleetrieity Expenses 400Cell Phone Bill 1500

68}


69}

4-11-2009

NOVEMBER' 2009

Mr. Swayam paid Salaries and Rent by cheque for October 2009.70}5-11-2009Mr. Swayam issued a cheque of Rs. 8,000 to the Petty Cashier.71)10-11-2009Mr. Swayam received a cheque

10-2009.72}12-11-2009

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

Mr. Swayam started Trad'mg in a New Product and pure hased 'Iff rom D'1rty Enterpr1ses on eredi t.Item I Quantity I Rate I Value I Input VAT Total

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Electric Heater I 30 I 400 1 12,000 1 12.5 0 13,500

Gross 13,50074)

14-11-2009Mr. Swayam paid Rs.4 ,500 by cheque for the cell phone he purchased for his Sales Executive .

Page : 26SWAYAM


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75)15-11-2009

Untiled Notes Page

Nome of Expenses Amount (Rs .)Conveyance Expenses of Market inq Execut ives 600Shop Maintenance Expenses 500Electricity Expenses 300Cell Phone Bill 1100

Mr. Swayam S0Id the f oIIowing items to He1Ip Trad'mg Corporat1on on ere 1t.Item Quantity Rote Value Output

VATTotal

Open Well Pumps 50 1800

90,000 4% 93,600Gross Total

96,600Note : Mr. Swayam asks lhe accountan t to create a voucher class ·Sales @ 4%" and recor d the Sales ma Sales Vouche r.Using voucher class eliminates lhe process of manually entering accounting details. Applicable VAT is also displayedautomatically.

76}29-11-2009

Mr. Swayam received the statement of expenditure from the Petty Cashier for November 2009. The Statement is as follows :

77)


78)

4-12-2009

DECEMBER'2009

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

79)8-12-2009M r. Swayam settled the bill dated 12-11-2009 of Dirty Enterprises by cheque.

80}10-12-2009Mr. Swayam withd rew Rs.10,000 from the Bank for personal use.

81}17-12-2009Mr. Swayam received a cheque from Help Trading Corporation in settlement of bill dated 15-11- 2009.

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75)15-11-2009

Untiled Notes Page

82}18-12-2009Mr. Swayam Sold the following items for cash in an exhibition organized by V-Guard company.


SWAYAM


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83}19-12-2009Mr. Swayam paid Rs. 2500 in cash for the space provided in the exhibition .

84}29-12 -2009Mr. Swayam received the statement of expenditure from the Petty Cashier for December 2009. The Statement is as follows :

Nom e of Expenses Amount (Rs .)Conveyance Expenses of Marketinq Execut i ves

600Shop Maintenance Expenses 450Electricity Expenses 400Cell Phone Bill 120085}31-12-2009VAT adjustment entry.

86}31-12-2009Provision entry to transfer ba lance from VAT Adjustment account to VAT Payable account.

JANUARY' 201087}1-1-2010Mr. Swayam paid Salaries and Rent by cheque for December 2009.

88}2-1-2010Mr. Swayam deposited Rs. 1,20,000 cash in ICICI Bank

89}5-1-2010Mr. Swayam paid VAT due for December 2009 by cheque.

90}8-1-2010Mr. Swayam pure hased the f oIIowing items on eredit f rom NeXT Services . Orissa.Item Quant Rote V Input TotalSubmersible Pumps 50 1800 9

0,004% 93,600

91}12-1-2010Mr. Swayam decides to have a price list for his customers. The price levels were decided on the bas i s of old and new customers and also the

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volume of items purchased by them .

Page: 28 SWAYAM


Name of Expenses Amount (Rs.)

Cell Phone Bill paid 800

Conveyance Expenses of marketing executives 500



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PRICE LIST FOR OLD CUSTOMERSItems 0-20 D 20- D SO- DHigh Capacity Stabilizers 850 Nil 850 5% 850 7%Open Well Pumps 1600 2% 1600 5% 1600 6%

PRICE LIST FOR NEW CUSTOMERSItems 0-20 D 20- D SO- DSubmersible Pumps 2500 Nil 2500 4% 2500 8%

92}14-1-2010Mr. Swayam S0Id the f oIIowing items to S"1mp1 e TouchTraders.Item Quanti

tyRate Dis

c .Value

Output VAT

Total

Submersible Pumps 30 2500

4'Yo 72,00

4% 74,880

93}15-1-2010Mr. Swayam withdrew Rs. 13,000 from ICICI Bank for persona l use.

94)20-1-2010Mr. Swayam withdrew Capital of Rs.5,00,000 from the firm by cheque.95)25-1-2010Mr. Swayam received a cheque from Simple Touch Traders for Sales made on 14-1-2010.

96)30-1-2010

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

January 2010. The Statement is as follows :


98}31-1-2010Provision entry to transfer balance from VAT adjustment account to VAT

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Payable account.

Page : 29SWAYAM


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99}3-2-2010

FEBRUARY'2010

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

100}4-2-2010Mr. Swayam paid Salaries and Rent by cheque for January 2010.

101}8-2-2010Mr. Swayam purchased the following items from Dust Merchants . Dust Merchants drew a bill ofexchange which was accepted by Mr . Swayam.

Item Quanti Rate Value Input VAT TotalHiqh Capacity 50 500 25 12.5':.'o 28 ,125Open Well Pumps 30 1500 4 4% 46,800

Gross Total 74,925

102}12-2-2010Mr. Swayam soId the f oIIowing items to Me Trad.ing Company on ered'1t.Item Quantit

yRate Dis Value Output Total

High Capacity Stabilizers

30 850

5':.o' 24,225 12.5% 27,253Submersible Pumps

40 1600

5':.'o 60,800 4% 63,232

Gross Total 90.485

103}14-2-2010Mr. Swayam pure hsedtheflolow1nq items f rom C eon Information Systems, H1y1derabad on cred it.Item Quantit

yRate Value Input

CSlTotal

Law Capacity Stabilizers

50 450 22 ,500

4% 23,400

104)15-2-2009M r. Swayam withdrew Rs.5,000 from bank for personal use.

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SWAYAM

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105)18-2-2010Mr. Swayam purchased the following items from Dirty Enterprises on credit.Item IQuantity I Rote I Value

I Input VATTotal

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

Gross Total 68,640

106}25-2-2010Mr. Swayam sold the followinq items to Mumbai Uqly Tradinq Corporation (Govt.Dept.) on credit.Item I Quantity I Rote I Volue

Input TotalSubmersi ble Pumps I 40 I 2500 1 4% 1

,04,00Gros: 1,04,00Note : CST is exempted if the sale is made to government depar tmen t.

107)27-2-2010M r. Swayam received the statement of expenditure from the petty cashier for the month end ,February 2010. The statement is as follows :Nome of Expenses Amount (Rs Cell Phone Bill paid 1300Conveyance Expenses of marketing 700Shop Maintenance Expenses 400Electricity Expenses 450


109}

MARCH' 2010

M r. Swayam paid Salaries and Rent by cheque for February 2010.

110)10-3-2010Mr. Swayam honored the bills payable which was drawn by Dust Merchants by issuing a cheque.

lll}15-3-2010

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Mr. Swayam sold the following items on credit to Faithful Traders , Kerala.Item Qu Rot Output TotalHigh Capacity Stabilizers 30 850 4% 2Open well Pumps 50 155 4% 7

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112)18-3-2010M r. Swayam SoId the f oIIowing items to Help Trad ing Corporation on eredi t.Item Quan Rate Value Input TotalHigh Capacity 5 950 4750 12.5'Yo 5343Law Capacity 15 750 11250 12.5'Yo 12657

Gross 18,000113)Mr. Swayam withdrew Rs.5,000 from bank for personal use.

114)30-3-2010M r. Swayam received the statement from the petty cashier for March 2010 . The Statement is as follows :

Nam e of Expenses Amount Cell Phone Bill paid 1800Conveyance Expenses of marketing 700Shop Maintenance Expenses 350Electricity Expenses 500


116)31-3-2010Provision entry to transfer ba lance from VAT adjustment account to VAT Payable account.

Provision EntriesAll Provision entries are depicted using a Journal voucher.Note : Provision Entries , Depreciation Entries and Adjustment Entries are all recorded on 31-3- 2010.

1)Shop Rent for March 2010.

2)Salaries for March 2010.

Page : 32

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Sl.N Asset name Value to be

Depreciated

Date of

Purchase

Rate of

Depreciation

Depreciation

For 2009-201O

1. Cell Phone-1 5,500 10-4-2009 15% 825

2. Cell Phone-2 4,500 14-11-2009

7.5% 338

3. Computer 25,000 10-4-2009 60% 15,000

4. Electrical Fittings 5,000 10-4-2009 10% 500

5. Furniture & Fixture 1,50,000 5-4-2009 10% 15,000

6. Motor Vehicle 40,000 10-4-2009 15% 6,000

37,663

Untiled Notes Page

3)Electricity Bill charges for March 2010 is Rs. 350

Depreciation Entries :

AdjustmentEntriesforPrepaidExpenses:A II A du.ustment entries are dep.icted usinq a Journa vouc her.

Nature Payment

Period

Of Insurance

Amou

Prepaid Period

Prepa

Amount for

Current YearInsuranc

28-6-2009

1-4-2009 to

30-6-2010

2,400

1-4-2009 to

30-6-2010

600 1,800

Other Adjustment Entries1)Transfer balance of withdrawals account to Mr. Swayom Satpathy Calcutta account.

Closing Entries :1)

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

****************** ************

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