Good Luck Institute

Tally Notes
Accounting:
The main purpose of accounting is to ascertain profit or loss during a specified period,
to show financial condition of the business on a particular date and to have the control
over the firm‟s property. In other words an account is a systematic record of all
transaction relating to a person, an asset, a liability, an expense or an income. Account
is also called A/C. such accounting records are required to be maintained to measure
the income of the business, communicate the information. So that it may be used by
manager, owners and other parties.

Double Entry System:

We have seen earlier that every business transaction has two aspects, i.e., when we
received something we give. Something else in return. For Example, when we
purchased goods for cash, we received goods and give cash in return, similarly in a
credit sale of goods, goods are given to the customer and customer becomes debtor for
the amount of goods sold to him. This method of writing every transaction in two
accounts is known as Double Entry System Of Accounting of the two accounts, one
account is given debit while the other account is given credit with an equal amount.
Thus, on any date, the total of all debits must be equal to the total of all credit because
every debit has a corresponding credit.

Rules of Double Entry System/Golden Rule Of Accounting:

There are separate rules of the double entry system in respect of personal, real, and
nominal accounts which are discussed below……

1. Personal account: These accounts record a business‟s dealing with persons or

firms. The person receiving something is given debit and the person giving
something is given credit. In other word personal account recording transaction
with person or firm.

DEBIT THE RECEIVER

Personal Account Rule
CREDIT THE GIVER
 Good Luck Institute

Tally Notes

2. Real account: These are the accounts of asset entering the business is given
debit and assert leaving the business is given credit. In other word real account
is that A/C of property or possession E.g. Goods A/c, furniture A/C, etc. For
example, when goods are sold for cash, cash account will be giving debit as
cash comes in and Goods account will be credited as goods go out. So, the rule
…..

DEBIT WHAT COMES IN

Real Account Rule
CREDIT WHAT GOES OUT

3. Nominal/ Fictitious Account: These account deals with expenses, income,

profit and losses. For example, when rent is paid to the land lord, rent account
will ne debited as it is an expense and cash account will be credited as it goes
out. Other example commission A/C, Advertising A/C, Discount A/c, wages
A/C.

DEBIT ALL EXPENSES & LOSSES

Nominal Account Rule
CREDIT ALL INCOME & GAIN

(Account recording transaction which do not affect particular person but effect
business in general are known as IMPERSONAL A/C‟S. it may be either Real
Or Nominal A/C RULE.)

Few basic terms:

 Business transaction: Any exchange of money or money‟s worth as goods

and service between two parties is called a business transaction. It may relate to
purchased and sale of goods, receipt and payment of cash and rending of
service by one party to another.
 Debtor: A debtor is a person who owes money. The amount due from him is
called debt. The amount due from a person as per the books of account is called
a book debt. For example Sold Goods to Rolex Industry in credit. The Rolex
Industry is known as Debtor.
 Good Luck Institute

Tally Notes
 Creditor: A person to whom money is owing or payable is called a creditor.
For example purchased goods from Sam Company in credit basis. The Sam
Company is known as Creditors.
 Capital: This is the owner‟s financial interest or holding in business and is
represented by the value of net assets.
 Goods: This including all articles, commodities or merchandise in which the
business deals. Thus, cloth would be goods for a dealer in cloth; furniture
would be goods for a dealer in furniture and so on.
 Assets: Any physical thing or right owned that has money value is an asset. In
other words, an asset is that expenditure which results in acquiring of some
property or benefit of a lasting nature.
 Drawings: Any amount or goods withdrawn by the owner of a business for
personal use is called drawing.
 Voucher: Any written document in support of a business transaction is called a
voucher.

Journal:
Journal is derived from the French word “JOUR” which means a day. Journal
therefore means a daily record of business transaction. Journal is a book of original
entry because transaction is first written in the journal from which it is posted to the
ledger at any convenient time.

Ledger:
We know, journal records all business transaction separately and date wise. The
transaction pertaining to a particular person, assets, expense, or income is recorded at
different place in the journal as they occur on different dates. Hence, journal fails to
bring the similar transaction together at one place. Thus, to have a consolidated view
of the similar transaction different accounts are prepare in the ledger. A ledger
account may be defined as a summary statement of all the transaction relating to a
person, assert, expense or income which have taken place during a given period of
time and shows their net effect.
 Good Luck Institute

Tally Notes
Trial balance:
The end of the financial year or at any other time, the balance of the all ledger
accounts are extracted and are written up in a statement known as trial balance and
finally totaled up to see if the total of debit balances is equal to the total of credit
balances. A Trial Balance may thus be defined as a statement of debit and credit total
or balance extracted from the various A/C in the ledger with a view to test the
arithmetical accuracy of the book.

1. To have balances of all the accounts of the ledger.

2. To have proof that the double entry of each transaction has been recorded
because of its agreement.
3. To have material accuracy of preparing the profit and loss account and balance
sheet of the business.

Balance sheet:
A balance sheet is a statement prepared with a view to measure the financial position
of a business on a certain fixes date. The financial position of a concern is indicating
by its assets on a given date and its liabilities on that date. Excess of asserts over
liabilities represents the capital and is indicative of the financial soundness of the
company. A balance sheet is also described as a statement showing the source and
application of the capital. It is a statement and not an account and prepared from real
and personal A/C. the left hand side of the balance sheet may be viewed as a
description of sources from which it currently operated and the right hand side as a
description of the firm in which that capital is invested on a specified date.

The balance sheet is a statement, which projects the financial position of a business on
a given date. This is one of the backbones of TALLY. At the gateway of Tally, press
B to being up the balance sheet.
 Good Luck Institute

Tally Notes
Profit and loss A/c:
To display the profit and loss A/c. at gateway of tally press P or select the option
profit and loss A/c. on selection of this option profit and loss A/c is display in the
horizontal format as at last voucher entered. It displays expenses on the left side and
income on the right side.

Assets:
Assets are property and possession of a business. Stock, Land and Buildings, Cash,
Bills Receivable, are some examples of assets. The classification of assets depends on
their nature the various types of assets are…..

 Fixed Assets- land and building. Machinery (Permanently Nature)

 Current Assets- Cash, Stock, Bills Receivable (Operating Cycle of One Year)
 Tangible Assets -Assets can be seen & touched, like furniture
 Intangible Assets- assets which cannot be seen & touched like Goodwill.

Liabilities:
A liability is an amount which a business is legally bound to pay. It is a claim by an
outside on the assets of a business. Liabilities may be classified into following
categories.

 Fixed liabilities
 Long term liabilities
 Current liabilities

Tally
Tally is financial accounting software that helps you to computerize your manual
accounting system. In other words the tally is accounting software. It is software of
keeping all kind of business transaction. It used POST TRANSATION system. It
means, that the information that is being fed into TALLY as voucher, has been
already executed. E.G. in POST TRANSACTION SYSTEM the payment is first made
 Good Luck Institute
/

Tally Notes
based on your exiting methods (i.e.) against a cash bill, against a voucher, etc.) & that
information is fed into the program. In other word POST TANSACTION means after
the completion of the transaction. In tally there are two main accounts namely
account only and account with inventory. Account only deals with account like sale
and purchased of goods where as account with inventory includes sale and purchase
of goods and also the quantity of stock item, which help us in maintain complete
information of particular transaction.

Advantages of Tally

1. Tally has saved all paper works, it means the cost of all paper work = Zero = It
means before tally, we had to all work on papers and sometime paper work cost
was more than the benefit of information in small business type organization .
But after tally using, most benefit is gotten by small scale business
organizations.
2. In one tally software, you can keep records of unlimited companies. In manual
accounting, it is not possible that a single accountant can keep the record of 20
companies. But, in my contacts, there are many professional accountants of
Mumbai and Delhi who are tracking all records of more than 20 companies in
tally. Billions Rupees transactions of more than 20 companies and just one tally
software. Take idea what is the efficiency and what are the benefits of tally
software.
3. After coming tally, it has made simple system of recording and calculation of
all tax responsibility. Different tax responsibilities like VAT, FBT, Service tax,
Excise Mod VAT, Custom duty, TDS, Advance tax, etc. can
easily calculate and record in tally. Now, companies are demanding tally
professional in first eligibility because they are keeping all records in tally and
without knowledge of tally , A MBA is also fail to enter in Company as
Account Manager
4. Tally provides some exceptional reports which are not possible to make in
manual accounting. In these
exceptional reports, you can
find negative stock, negative
ledger, overdue receivables,
overdue payables,
Memorandum vouchers. These
reports are very useful, if you
 Good Luck Institute
/

Tally Notes
know its benefit. These reports are also used to find out frauds and check by
spot internal auditors. Many accountants did not know that tally can be easy use
to track accounting of foreign business. Because in tally‟s configuration makes
suitable tally for providing the information export shipping details, nos. of
containers and kinds of packages use in export option. These in formations are
very useful for exporters. For activate these options, you have to click
configuration, then click invoices, delivery notes and orders. Here you can yes
different exporter‟s options.

5. There are few accountants who know that when we make the voucher entries of
payroll, at that time we also
create cost allocation by only
writing yes in voucher entry
configuration in the front of
(Allow cost center allocation in
payroll vouchers.)

6. One of the best advantages of tally that in tally we can see any report by
filtering rang option. If you
know to use excel, you can
better understand what is
filtering and what is rang.
But, here I am telling you
that it is just option. Suppose
if you see cash flow
statement greater than Rs.
100000 on all items then you
can check cash inflow and
cash outflow more than Rs.
100000 each items.

7. With tally accounting software we can synchronize data over multiple

locations. Data synchronize is simple, cost effective and just few minutes we
can apply it . With synchronizing option of tally, we can easy share or
collaborates all accounting information more than one branch of company.
 Good Luck Institute

Tally Notes

8. With the help of tally, accountants can generate all type of VAT through e-
return files.

9. Tally can be operated in 13 languages, if you are businessman and prefer to use
tally in your local language, tally is providing support to record your
transactions in your own language .You can also print and view reports another
languages also.

Life time benefits = Speed + Advance + Safe + Universal Accounting software

Disadvantages
1. I have used tally for many years and I feel that it is not as easy as excel or ms
word of Microsoft Company. Because, excel and ms word can learn by
himself. But even senior accountants, if they do not know how to operate, they
can also mistake in maintaining of accounts in tally.

2. There is no improvement in old version of tally. Tally Company is

launching new version one by one from tally 4.5 to tally erp9. It is one of most
disadvantage of tally that the expert in old version of tally cannot get
improvement in same version. Suppose I am expert in tally 7.2 and
tally launch new version tally 8.1, 9 and tally 9erp. But tally Co. is not care for
improving tally 7.2. But now after migration facility from tally 7.2 to tally
erp9 is good step of Tally Company for removing this advantage.
 Good Luck Institute

Tally Notes
3. Tally making and maintain system of budgeting is no so advance. There is no
provision of capital budgeting in tally 9 with different methods of capital
budgeting.

4. Tally does not provide one button of default setting of this software. I explain
this demerit as suppose a new customer purchased tally for maintaining
accounts on it and he has changed some setting of features and configuration
after this , if his accountant found something wrong in tally , there is no one
button to correct it because without deleting ledger and voucher , you can
return to default setting of feature menu .

5. Tally support system is no so effective. There is still need to improve to the

support system of tally. So that training of this software becomes simple.

How to open Tally?

Double click on Tally icon on Desktop or Click on start then programs then tally and
again tally.

When you open tally it may display gateway of tally screen or company info screen.
But you are required company info screen to create company at the beginning. You
can move to company info screen from other screen by pressing ALT + F3 key.

How to create company?

 Open Tally
 Go to Company Info Screen (by pressing Alt + F3 Key if other screen appear)
 Choose Create
 Fill the given Form

You Need to fill following:

 Company Name
 Address
 Email
 Currency Symbol
 Maintain (Accounts only or Accounts with inventory)
 Financial Year beginning date.
 Book Beginning date
 Good Luck Institute

Tally Notes
 Tally Vault Password
 Security control Password
 And other details.
Press Enter to accept data or to save data when tally gives option save data
yes/no.

 Select company:

This command is use to select company which is already created.. It is required when
you are maintaining more than one company's account in the same computer.

 Go to company info (press ALT + F3)

 Choose Select company and press Enter
 Choose your company from the appeared list and press Enter.

 Shut Company :

This option is use to close the company you are working.

 Go to Company info
 Choose Shut Company and Press Enter
 Choose the company you want to Shut then Press Enter.
 Good Luck Institute

Tally Notes
 Alter Company:

This option is use to modify the company which is already created.

 Go to Company Info Screen

 Choose Alter Company
 Select the company you want to modify then Press Enter
 Modify the required information
 Press Enter until you accept data.

Gateway of tally:
The gateway of Tally Screen control center of tally. Gateway of tally is that menu
which actually deals with the accounting of transactions, creating ledger, generating
statement like balance sheet and profit and loss account, displaying ledgers, vouchers
etc. after selecting the required company „gateway of tally‟ menu is displayed on the
screen,

Current status Horizontal button Vertical button bar

bar

Active
company

Tally main menu

Product
info Tally calculator
 Good Luck Institute

Tally Notes

How to create Ledger?

Ledger accounts represent the assorted, summarized and balanced transaction of

similar nature. For example: the ledger account
conveyance represents the set of transactions related
to conveyance expenses and their summarized net
figure. All accounting transactions are linked to
ledger account.

 Create Ledger
 Go to account info from Gateway of
Tally
 Choose Ledger
 Choose Create from Single Ledger.

1. Type Ledger Name

2. Choose Account Type on under
option.
3. Set other details if required.
4. Set Opening balance if any.

 Accept Data

 Alter Ledger:

 When you need to change or correct the ledger you have created we use Alter.
 Go to Account Info.
 Go to Ledger
 Select Alter from Single Ledger
 Choose the Ledger you want to modify
 Change the required information of the Ledger
 Accept Data.

 Display Ledger :

 Using Display Ledger you can view the list of ledgers you have
created.
 Good Luck Institute

Tally Notes
 Single ledger:

 Step1: To create single ledger, select create under single ledger and press enter.
 Step2: In ledger creation dialogue box, type Hasan‟s capital in the Name field
and press enter key twice to skip the field Alias and go to the next field.
 Step3: In the field under, type the alphabet „C‟ and select capital account from
the list of groups displayed on the right side of the screen.
 Step4: Fill other information as par the condition and if you want.

 Multiple ledgers:

 Step1: In ledgers menu, to create multiple ledgers press R.

 Step2: In multi ledger creation dialogue box, in this the field under group, type
the alphabet „C‟ and select current liabilities from the list of groups displayed
on the right side of the screen.
 Step3: In the field name of ledger, type the account name „drawing‟. And press
enter key.
Note: the group name current liabilities appears in the filed under.

Ledger Group
Purchase Purchase account
Purchase return Purchase account
Fright charges Direct expenses
Carriage inwards Direct expenses
Octroi Direct expenses
wages Direct expenses
Sales Sales account
Paid
Salary Indirect expenses
Postage and telegrams Indirect expenses
Telephone charges Indirect expenses
Rent paid Indirect expenses
Rates and taxes Indirect expenses
Insurance Indirect expenses
Audit fees Indirect expenses
Interest on loans paid Indirect expenses
Printing and stationery Indirect expenses
General expenses Indirect expenses
 Good Luck Institute

Tally Notes
Discount allowed Indirect expenses
Carriage outwards or sales Indirect expenses
Traveling expenses Indirect expenses
Advertisement Indirect expenses
Bad debts Indirect expenses
Received
Interest on investment received Indirect income
Interest on deposit received Indirect income
Interest on loans received Indirect income
Commission received Indirect income
Discount received Indirect income
Rent received Indirect income
Dividend received Indirect income
Loan from others Loan Liabilities
Bank loan Loan Liabilities
Bank overdraft Bank OD
Bills payable Current Liabilities
Sundry creditors Sundry creditors
Income received in advance Current Liabilities
Other liabilities Current Liabilities
Capital Capital account
Drawings Capital account
Cash in hand Cash in hand
Cash at bank Bank account
Fixed deposit at bank Deposit
Investments Investments
Bills receivable Current asset
Sundry debtors Sundry debtors
Furniture Fixed asset
Motor vehicles Fixed asset
Plant and machinery Fixed asset
Land and building Fixed asset
Patents Fixed asset
Goodwill Fixed asset

Main Differences between Group and ledger in tally 9

 Good Luck Institute

Tally Notes
 Tally provides us 34 automatic groups for ledger creation. But tally provides
only 2 ledger account in tally software and its names are cash are profit and
loss account.

 Group is head category or it is base of ledger creation. We can simply take an

example from you day to day field. Suppose you have taken commerce subject
and it can also divide into management theory, accounts, business maths and
economics. So, Main group is commerce and all other are called ledger
accounts but under this commerce group. Same will apply in accounting in
tally, We can create several groups under single ledger .

 We generally neither create extra groups nor change them which is provided by
tally software but we must create different ledger according to the need of
recording of different vouchers in tally

 If we have changed group from one category to another, all ledger will
automatically change by this. So be serious for making any change in group.

 Group is most helpful to make final account according the nature of

organization, but ledger creation is not helpful for any redesigning of final
account in tally 9. Let me explain more about it. In the previous article tally, I
need insurance company account not in sundry debtor account but in sundry
insurance account so, I made sundry insurance account in group for making
redesigning my final account .

Inventory Info.
 How to create Stock Group?

 Go to Inventory info from Gateway of Tally.

 Choose Stock Group.
 Choose Create

1. Type Stock Group Name

2. Choose Primary on Under option
3. Accept data to save Stock Group.
 Good Luck Institute

Tally Notes
 How to create Unit of Measure?

Stock items are purchased or sold on the basis of quantity. The quantity is measured
by units. Hence it is necessary to create units of measure. You can have simple units
such as number meters, kilograms and pieces or compound units like box of 10 pieces
(1 box=10 pieces).

 Go to Inventory info from Gateway of Tally.

 Go to Unit of Measure.
 Choose create

1. Type Symbol of Unit

2. Type Formal Name of Unit
3. Accept data to save.

 How To create Stock Item?

The item, for which you maintain quantitative details of materials IN & Out in your
tally system for materials accounting, is known as a stock item.

 Go to inventory info from Gateway of Tally.

 Choose stock Item
 Choose create
o Type Name of Stock Item
o Choose Stock Group on Under option.
o Choose Unit of measure on Unit option
o Set opening balance stock if any

Accept data to save stock item.

Inventory Info.

How to create Stock Group?

 Go to Inventory info from Gateway of Tally.

 Choose Stock Group.
 Choose Create
o Type Stock Group Name
 Good Luck Institute

Tally Notes
o Choose Primary on Under option
o Accept data to save Stock Group.

How to create Unit of Measure?

 Go to Inventory info from Gateway of Tally.

 Go to Unit of Measure.
 Choose create
o Type Symbol of Unit
o Type Formal Name of Unit
o Accept data to save.

How To create Stock Item?

 Go to inventory info from Gateway of Tally.

 Choose stock Item
 Choose create
o Type Name of Stock Item
o Choose Stock Group on under option.
o Choose Unit of measure on Unit option
o Set opening balance stock if any

Accept data to save stock item.

Practice :

Stock Item Unit of Measure

Stock Group
Noodles Wai Wai Ctn.
Mayos Ctn.
RumPum Ctn.
Ruchi Ctn.
Syrup Mapro Box
Kisan Btl.
Soap Liril Box
Lux Pcs.
 Good Luck Institute

Tally Notes
Voucher Entry

1. Types of accounts

Dr Cr
Personal Account The Receiver The Giver
Real Account What comes in What goes out
Nominal Account All expenses and losses All income or gains.

 Associated ledgers and their Dr./cr. Side.

 Voucher date
 Dr. /Cr. Amounts should be equal.
 Types of voucher (i.e. Receipt, payment, contra, sales, purchase , journal
etc)
 Settings for Voucher Entry

 Press f12 after entering Accounting Voucher

 Set “Use Single entry mode for Pymt/Rcpt/contra”. -- No.
 Set “Use Cr. /Dr. instead of To/By during entry”. – Yes
 Press Enter continuously until you accept data.
 Now processed for voucher entry.

Account voucher entry:

You record a transaction through a voucher entry. To enter accounting
voucher.
step1: In gateway of tally main screen from transaction menu press V to
select accounting voucher.
At the button bar in the voucher entry screen you get button for each of
the voucher type show in the given figure. Click the appropriate button or press
the respective function key to get the respective type of voucher entry screen.

Voucher alteration anddeletion:

 Good Luck Institute

Tally Notes
After pressing all entries if you want to check all passed entries for correction or
deletion of voucher you may perform these in voucher alteration mode, in following 2
ways

 From voucher screen

To get any voucher of current date in Alteration mode

 Press page up key to get previous voucher.

 Press page down key to get next voucher.
To get a voucher of any other date

Step1: in gateway of tally press D for display menu.

Step2: in display menu press day book or statement of accounts.
Step3: in statement of account press S for statistics.
Step4: for alteration mode press enter key till you get alteration screen, then
make a desire changes in it. Press Ctrl+A to SAVE changes you made or ctrl+Q
for quit from the screen without any changes.
Step5: for deletion of voucher at alteration mode, press Alt+D, at DELETE?
Press YES or NO to confirm deletion.

Types of voucher
 Receipt (f6)
This voucher is made when we receipt cash from any person, company or
parties. Cash received on sales of fixed assets and scrap items are also entered
through this voucher.
Cash received on sales of Business goods/trading items are not entered through
this voucher. They are entered via sales voucher.
This voucher is entered by pressing f6 key.

Cr.
Dr.
Cash/ Bank a/c  Capital account
 Fixed assets
 Sundry debtors(creditors)
 Good Luck Institute

Tally Notes
 Loans received
 Interest/commission received
etc.

 Payment (F5)
This voucher is made when we pay cash or cheque to any person, company or
parties. Fixed assets purchased on cash also entered through this voucher but
purchase of Business goods are not entered through this voucher. They are
entered via purchase voucher.

Dr. Cr.
 All Creditors Cash/ Bank
 Fixed assets.
 Payment of
Interest/salary/commission/bills
payable etc.

 Contra (F4)
This voucher is made when we deposit cash into bank or withdraw cash from
bank or transfer cash from one bank to another bank.

Dr. (+) Cr. (-)

Deposit Bank Cash
Withdraw Cash Bank
Transfer Bank 1( to where cash Bank 2 ( From where cash
deposited) Transferred )

Practice :

1. Mr. Aryan Shre started a business with capital Rs. 10,00,000 /-

2. Deposited Rs. 7, 00,000 / - to the Dena Bank.
3. Purchased 4 table @ Rs 3,000 / - each and 8 chair @ 1,200 /- each.
4. Paid to Mr. Hariom Rs. 25,000 / -
5. Received Rs. 50,000 /- From Mr. Laxmi Das.
6. Sold 2 table @ Rs. 2,700 each and 2 chair @ 1,100 /- each as second hand.
 Good Luck Institute
/

Tally Notes
7. Withdraw Rs. 2, 00,000 / - from Dena Bank.
8. Salary Rs 20,000 /- and House rend Rs. 7,000 / - paid.
9. Interest received from bank Rs. 1,500 / -
10.Interest Paid to Bank Rs. 2,500 /-
11. Commission Received Rs. 3,000 / -
12. Cash Deposited Rs. 3,00,000 / - into SBI Bank.
13. Rs. 2,00,000 / - Transferred into SBI Bank from Dena Bank..
14. Rs. 1,00,000 /- Paid Mr. Ranjan kumar from the Cheque of SBI Bank.
15.Cheque of Rs. 50,000 /-received from Mr. Manoj Karna.

 Purchase (F9)
Purchase voucher is made when we purchase business goods or trading items
on cash or credit.
Purchase of fixed assets and official goods are not entered through this
voucher.
When you entered this voucher you also need to mention Stock Item name,
Qty. of Stock item and Rate of the item.

Cr.
Dr
Purchase a/c Cash/Bank
Sundry creditors or suppliers.
 Purchased goods from Hasan on credit basis RS.8000/-
Purchased A/C ........................... Dr
To Hasan A/C

 Sales a/c (F8)

This voucher is made when we sale business goods or trading items on cash or
credit. Sale of fixed assets or scrap items are not entered through this voucher.

Cr.
Dr.
Cash/Bank Sales a/c
Sundry Debtors or Customers (mention Name of Item, Qty and Rate.)
 Goods sale to Ahmed on credit Rs. 5000/-
Ahmed A/C ........................... Dr
To sale A/C
 Good Luck Institute

Tally Notes

 Journal (F7)
This voucher is made to adjust two accounts. I. E. Depreciation calculation,
Fixed assets sale or purchase on credit etc.
 Depreciation on furniture
Depreciation A/C ................... Dr
To furniture A/C
 Outstanding salary
Outstanding salary A/C… ............... Dr
To salary A/C

Practice:

1. Set opening balance of Cash Rs. 5,00,000 /-

2. purchase of following items on cash:
a. wai wai 50 ctn @ 350 /- A
b. mayos 40 ctn @ 320 /- A
c. mapro 50 box @ 1,600 /- B
d. Liril Soap 60 box @ 1,200 / - C
3. Purchase of following items on credit from Aryan s tore:

a. Rumpum 100 ctn @ 300 / - A

b. Ruchi 75 ctn @ 280 / - B
c. kisan 40 box @ 1,800 / - B
d. LUX 80 box @ 4,000/- C
4. Sold following items on cash :

a. wai wai 30 ctn @ 380 /-

b. mayos 20 ctn @ 370 /-
c. mapro 25 box @ 1,900 /-
d. Liril Soap 40 box @ 1,400 /-
5. Sold following items on credit to Mr. Ratna Das.

a. Rumpum 60 ctn @ 320 /-

b. Ruchi 35 ctn @ 300 / -
c. kisan 20box @ 2,100 / -
d. LUX 45 box @ 4,500 /-
 Good Luck Institute

Tally Notes
6. Purchase of 2 computer @ 30,000 /- for office use from Narayani
Computers on credit.
7. Received cash Rs. 1,25,000 /- from Mr. Ratna Das
8. Purchase 3 tables @ 5,000 / - each for office use From AFF Furniture on
credit.
9. Paid cash to Aryan store rs. 1,00,000 /-
10. Paid to Narayani computer Rs. 60,000 / - and AFF Furniture rs 15,000 / -

 Settings for the Dr. Note and Cr. Note.

1. Press F11 Key for setting

2. Choose Accounting Features
3. Set Yes on “Use Debit/Credit Notes”
4. Press Enter until you accept data.

 Debit Note (Ctrl+F9):

This voucher is made when we return purchased goods or trading items to the
suppliers or creditors.

Cr.
Dr.
Cash/Bank. Purchase Return A/c
Creditors/Suppliers (made under Purchase a/c)
Apply Returned stock item name, qty
and rate

 Credit Note(Ctrl+F8):

This voucher is made when our customer returns sold goods /trading items to us.

Cr.
Dr.
Sales Return A/c Cash/ Bank
Under sales a/c Customers /Debtors a/c
Apply Returned stock item name, qty
and rate
Tally Notes
Practice

Sales returns (Credit Note.)

1. Sales Return of following items on cash :

1. wai wai 10 ctn
2. mayos 5 ctn
3. mapro 10 box
4. Liril Soap 5 box
2. Sales Retrun of following items From Mr. Ratna Das.
1. Rumpum 15 ctn
2. Ruchi 10 ctn
3. kisan 3 box
4. LUX 20 box

Purchase Returns (Debit Note)

1. Purchase Return of following items on cash:

1. wai wai 10 ctn
2. mayos 15 ctn
3. mapro 20 box
4. Liril Soap 10 box
2. Purchase Return of following items to Aryan store:
1. Rumpum 25 ctn
2. Ruchi 15 ctn
3. kisan 5 box
4. LUX 30 box

Mulitiple Godown:

Godown means a store for keeping the goods safe and secure. It may be warehouse,
rack, shelf or bin etc. It also includes principal's stock on consignment basis.

 Settings of Multiple Godown

1. Press F11 from (From Gateway of tally or from Inventory Info Screen or from
Any screen)
 Good Luck Institute

Tally Notes
2. Choose Inventory features.
3. Set Yes on “Maintain Multiple Godowns”--- „yes‟
4. Press Enter until you accept data.

This option enables the Godowns option in Inventory info Screen.

 How to Create godown?

1. Go to Inventory info
2. Choose Godown
3. Choose Create and press Enter.
1. Type Godown Name
2. Choose “primary” on Under option(Choose other godown if you are
creating sub-godowns on under option)
3. Accept data.

Now Godowns are created.

Now when you purchase or sale the stock items tally asked you the godown name.

 How to Check Stock Items Godown wise?

o Go to Display from Gateway of tally.

o Choose Statements of Inventory
o Choose Godowns
o Choose Godown Name and see details of the stock items.

practice

Stock Item Godown Purchase Sales Sales Purchase

Return Return
Waiwai A 50 30 10 10
Mayos A 40 20 5 15
Mapro B 50 25 10 20
Liril C 60 40 5 10
Rumpum A 100 60 15 25
Ruchi B 75 35 10 15
Kisan B 40 20 3 5
LUX C 80 45 20 30
Tally Notes

Stock Journal
This vouchers is use to transfer Stock Items from one Godown to another Godown.
This voucher is entered by ALT + F7 on Inventory Voucher.

Source Destination
Name of Item Godown Name of Item Godown
Qty Rate Amount Qty Rate Amount
 Choose the Item name which you  Choose the Item name which you
want to transfer want to Store.
 Choose Godown from where you  Choose Godown where you want to
want to transfer Store
 Choose Quantity of Stock Item to  Choose Quantity of Stock Item to
be transferred be Stored
 Give Rate of the stock Item  Give Rate of the stock Item
 Press Enter until Cursor moves
Destination column. Press Enter until Accept Data.

Physical Stock.
This voucher is used to closing the stock on the last of month or last of year, it known
as stock adjustment. On the physical counting, you find that the book stock and stock
found on physical verification may not match; a discrepancy may between the actual
stock and the computer stock figure. When the time is comes to close the stock at that
time count the physical stock and enter in physical stock voucher respectively.

This voucher is entered by pressing ALT + F10 Key.

Memo Voucher:

This voucher is entered to remember any transaction. Any voucher entered through
Memo Voucher doesn‟t effect in other accounts like P/L a/c, B/L A/c or other books.

Purchase and sales order processing.

 Tally Notes
Settings for enabling purchase order and Sales order.

 Go to inventory accounting from Gateway of tally.

 Press F11
 Set “Allow Purchase order processing” ---Yes.
 Set “Allow Sales order processing” ------- Yes.
 Press Enter until you accept data.

Purchase order:

We make this voucher when we send order to suppliers to send us some goods/stock
items.
It‟s an inventory voucher.

 Go to Inventory Voucher
 Press ALT + F4 key
 Choose Party‟s A/c Name: Cash or supplier a/c
 Set Order Number:
 Choose Purchase Ledger: Purchase a/c
 Choose Stock Item name
 Set Due Date
 Set Qty and Rate.
 Press Enter until you accept Data.

Sales Order
We make this voucher when we receive an order from our customer to send goods or
stock items.
It‟s also Inventory Voucher

 Go to Inventory Voucher
 Press ALT + F5 Key
 Choose Party‟s A/c Name: Cash or Customer a/c
 Set Order Number:
 Choose Sales Ledger: Sales a/c
 Choose Stock Item name
 Set Due Date
 Set Qty and Rate.

Press Enter until you accept Data.

Good Luck Institute

 Tally Notes

Purchase following items to produce computer

S. No. Name of Item Qty Rate Godown From

1.) Hard Disk 25 pcs 4000 NGH Cash
2.) Motherboard 30 pcs 2800 BHP Rabi suppliers
3.) CPU 40 pcs 3500 GKT Nepal Computer
4.) RAM 50 pcs 1200 NGH Cash
5.) Mouse 100pcs 200 BHP Cash
6.) Keyboard 75 pcs 300 GKT Nepal Computer
8.) CD ROM 30 Pcs 1200 NGH Rabi Suppliers
9.) DVD 40 pcs 1800 BHP Cash
10.) Monitor 50 pcs 6500 NGH Nepal Computer
21500

o Produce 20 computers using one item ofeach.

o Sale 5 computer on cash @ Rs. 25000 / - each.
o Sale 5 computer to Devine Organization @ Rs 26500 / - each.
o Sale 5 computer to AGPS, Samakhusi @ Rs 24000 /- each.

VAT (value added tax):

VAT is a system of indirect taxation, which has been introduced in lieu of sale
tax. It is the tax paid by the producers, manufactures, retailers or any other
dealer who add value to the goods and that is ultimately passed on to the
consumer. VAT has been introduced in India to ensure a fair and uniform
system of taxation. It is an efficient, transparent revenue-neutral, globally
acceptable and easy to administer taxation system. It benefits the common man
(consumer), businessman and Government.
The cascading effect is brought about by the existing structure of taxation
where inputs are taxed before a commodity is produced and the output is taxed
after is produced. This causes an unfair double-taxation. However, is VAT, a
set off is given for input tax (tax paid on purchased).This result in the overall
tax burden being rationalized and a fall in price of goods.

Good Luck Institute

Tally Notes
VAT PAYABLE= OUTPUT TAX- INPUT TAX

Advantage of VAT:

 Uniform tax rates across the country.

 Simplify producers to help lower prices by eliminating the effects of taxation.
 Reduce total tax expenses and improve cash flows.
 It will also increase transparency in the way we do business.

Enabling VAT Returns

Go to Gateway of Tally> Accounts Info. > F11: Features > F3: Statutory & Taxation

1. Set Enable Value Added Tax (VAT) to Yes

2. Select Type of Dealer as Regular

3. Enter the VAT Registration number

4. Enter VAT Applicable from date

5. Enter the Line of Business

6. Enter RDO Code given by the Philippines Customs and Excise Department
Tally Notes
7. Accept to save the changes.

Practice:
Purchase of Taxable Goods
Item Description Quantity(in Nos) Rate Amount VAT

Gold Jewellery 9 20,000 1,80,000 1%

GI Pipes 160 150 24,000 20%
Insulators 150 320 48,000 4%
Silk Fabrics 10 5,000 50,000 4%
Vacuum Cleaner 8 15,000 1,20,000 12.5%
Sale of Taxable Goods
Item Description Quantity (in Nos) Rate Amount VAT
Gold Jewellery 4 22,500 90,000 1%
GI Pipes 70 400 28,000 20%
Insulators 65 500 32,500 4%
Vacuum Cleaner 5 17,500 1,40,000 12.5%

TDS (Tax Deducted at source)

Tax deducted at source is one of the modes of collecting income tax from the
taxpayers as per the rates mentioned under IT Act and Rules. The deductor of the Tax
(TDS) deducts the tax form the deductee, on payment of specified incomes and
deposits the same to the credit of central government within the specified period along
with the challan in prescribed format.

TDS Features
1. Simple and user-friendly
2. Quick and easy to set up and use
3. Create single Expenses Ledger for Multiple Nature of Payment
4. Create single TDS Duty Ledger for Multiple Nature of Payment
5. Book & Deduct TDS in the same voucher
6. Single TDS deduction for multiple vouchers
7. Single TDS deduction for Multiple Nature of Payments
Tally Notes
8. TDS deduction on partial applicable value
9. Retrospective Surcharge Deduction
10. Party wise configuration for Lower / Zero rate
11. Party wise configuration to Ignore IT / Surcharge exemption Limit
12. Deduction of TDS on advance payments
13. TDS deduction on Non-Resident payments
14. Reversal of TDS

To enable TDS Feature

 Go to Gateway of Tally > F11: Features > F3: Statutory & Taxation
 Set > Enable Tax deducted at Source to Yes
 Enable>Set/Alter TDS Details to Yes
 The Statutory & Taxation features screen appears as shown.

Practice

1. On 1st April, 2009 Universal InfoTech received a Bill (vide No. 001) from
Phoenix Agencies for Rs. 50000 towards the Advertisement services rendered.
2. On April 8, 2009, payment of Rs. 49000 is made towards bill no. Bill-001 to
Phoenix Agencies for the purchase of Advertisement services, vide cheque no.
254781
3. On May 6, 2009, Universal InfoTech, paid TDS of Rs. 1000 towards
Advertisement Expenses, vide cheque no. 056330 for the month of April, 2009.
Tally Notes

Shortcut keys:

F2 Change The Current Date

Alt+F2 Change The Current Period
F3 Select Company
Alt+F3 Company Info
F4 Contra Voucher
F5 Payment Voucher
F6 Receipt Voucher
F7 Journal Voucher
F8 Sale Voucher
F9 Purchased Voucher
Ctrl+F8 Credit Note
Ctrl+F9 Debit Note
F11 Features
F12 Configuration
Page up Display Previous Voucher
Page down Display Next Voucher
Esc Come Out Of Screen
Alt+P To Print The Report
Ctrl+Q Quit
Alt+C Secondary window
Tally Notes
Practical Starts From Here

Account with inventory

Assignmen t 1:

Company name: Ta t a Company . (Year -1-4-2009 to 31-3-2010)

Ledger creation:

LEDGER OPENING
BALANCE
Cash in hand RS. 50000
ICICI bank Rs. 4000
HDFC bank Rs. 6000
Sam company Creditors
Avon company Creditors
Moon industry Creditors
Rolex industry Debtors
Max touch industry Debtors
DTDC company Debtors
Furniture Rs. 10000

1) Bike (stock group)

Stock items Qty Rate(each)
Karizma 4 70000
Yamaha 8 30000
CBZ 3 55000

2) Car (stock group)

Stock items Qty Rate(each)
Maruti swift 4 120000
Honda city 1 600000
Innova 3 300000
 Tally Notes
Purchased/ sale:

1-5-2009 2 Yamaha sold to Max touch industry of Rs. 40000 each/-(ref-1111)

1-6-2009 3 Innova sold to DTDC company of Rs.400000/- (ref-2035)
1-7-2009 purchased 3 CBZ from Sam and Company of Rs. 60000/- (ref-4501)
1-8-2009 purchased 1 Maruti Swift from Moon industry of Rs. 3, 50,000/-(ref-4502)
Contra voucher:

1-6-2009 Cash Of Rs 3000/-Deposit Into HDFC Bank.

1-7-2009 Cash Of Rs. 4500/- Deposit Into ICICI Bank.
1-7-2009 Cheque (ICICI) Deposit Into HDFC Bank Of Rs. 1500/-
1-8-2009 Cash Of Rs.2000/- Withdrawn From ICICI Bank.
1-9-2009 Cheque (HDFC) Deposit Into ICICI Bank Of Rs. 1000/-
1-10-2009 Cash Withdrawn From HDFC Bank Of Rs. 5000/-
1-12-2009 Cash Withdrawn From ICICI Bank Of Rs. 1500/-
1-1-2010 Cheque Deposit Into HDFC Of Rs.2500/- From ICICI Bank.
1-2-2010 Cash Withdrawn From HDFC Bank Of Rs. 1500/-.
1-3-2010 Cash Withdrawn From HDFC Bank Of Rs. 500/-.

Receipt and payment voucher:

2-6-2009 Cash receive of Rs.30000/- from Max Touch industry

3-7-2009 Cheque (ICICI) receive by DTDC company of Rs.200000/-
5-8-2009 Cash paid to Sam & company of Rs.25000/-
5-9-2009 Paid cheque (ICICI) to Moon industry of Rs.125000/-
7-7-2009 Cash received from DTDC company Rs.80000/-
8-8-2009 Cheque (HDFC) received from DTDC company of Rs.100000/-
10-10-2009 Paid cheque (HDFC) to Moon industry of Rs.75000/-
11-11-2009 Paid cash to Sam & company of Rs25000/-
12-12-2009 Cash received from DTDC company of Rs.15000/-
5-1-2010 Paid cash to Sam & company of Rs.10000/-
6-6-2009 Paid for salary of Rs.500/-
9-7-2009 Paid cheque (ICICI) of Rs.900/- for electricity bill
15-7-2009 Paid Telephone bill of Rs.450/-
16-8-2009 Paid cheque (HDFC) for Rent of Rs. 2500/-
3-9-2009 Paid wages of Rs. 600/- by cash
10-8-2009 Paid cheque( ICICI) of Rs.1000/- for stationery
12-10-2009 Cash receive of Rs. 45000/- from Max touch industry with discount of Rs. 5000/-
17-11-2009 Cash paid to Sam & company of Rs.56000/- with discount of Rs. 4000/-

Journal voucher:

12-2-2010 Bad debts of Rs.250/- from DTDC company

31-3-2010 Depreciation Rs.100/- on furniture

Good Luck Institute

 Tally Notes

Debit and credit note voucher:

7-8-2009 1 CBZ returned to Sam & company

15-8-2009 2 Innova returned from DTDC company
Assignmen t 2:

Company name: me t a l Company (year 2011-2012)

Ledger Opening Bal
HDFC 80000
DCB 10000
Cash 35000
Furniture 25000
Land 70000

Purchased voucher:

Date Bill Party name Stock item Unit price Godowns

no.
1.4.2011 101 Raj T.V 5 20000 Nagpada
12.5.2011 102 Salman Computer 4 35000 Powai
6.7.2011 103 Rehan Nokia Mobile 6 16000 Nagpada
9.9.2011 104 Hasan Computer 3 25000 Nagpada
9.10.2011 105 Salman I Pad 8 4000 Nagpada

Sale voucher:

Date Bill Party name Stock item Unit price Godwan

no.
5.4.2011 301 Ahmed I Pad 5 9000 Powai
25.5.2011 302 Gaus Computer 2 33000 Nagpada
9.7.2011 303 Jay Computer 2 42000 Powai
15.9.2011 304 Ismail T.V 4 28000 Powai
15.10.2011 305 Ajay Nokia Mobile 5 23000 Powai
Receipt voucher:
Date Party name amount Cash discount
12.4.2011 Ahmed 45000 5%

Good Luck Institute

 Tally Notes
2.6.2011 Gaus 66000 6%
15.7.2011 Jay 84000 4%
23.9.2011 Ismail 112000 4%
30.10.2011 Ajay 115000 3%

Payment voucher
Date Party name amount Cash discount
10.4.2011 Raj 100000 5%
20.5.2011 Salman 140000 8%
15.7.2011 Rehan 96000 9%
25.9.2011 Hasan 75000 5%
30.10.2011 salman 32000 4%

Journal voucher:

31.3.2012 Depreciation (land) 5%

31.3.2012 Depreciation (Furniture) 6%

Assignmen t 3:

Company name: Re l i ance Company (year 2010-2011)

Ledger Opening Bal

HDFC 50000
DCB 80000
Cash 15000
Furniture 20000

Item name Group Qty Rate(each)

Nokia Mobile 3 4500
Washing machine Electronic 5 8000
MP3 Electronic 2 2500
Long book Stationery 20 20
LG Mobile Mobile 8 4000
TATA Indicom Mobile 15 2000
T.V Electronic 5 7000

Good Luck Institute

 Tally Notes
DVD Electronic 6 4000
Parker pen Stationery 30 2500
Register Stationery 50 40
Reliance Mobile 20 1500
Computer Electronic 7 20000
Campos box Stationery 50 30
Camera Electronic 15 12000
Pencil Stationery 80 10
Sony Ericson Mobile 10 8000
Files Stationery 30 20
Vodafone Mobile 15 7500
MP4 Electronic 10 3000
I-pod Electronic 15 1500

Purchased voucher:

Date Ref Party name Item Transaction Qty Rate Amt

1-4-10 101 Shiny brother I pod Credit 3 2000 6000
1-5-10 209 Anchor Washing-M Credit 2 9000 18000
1-6-10 708 Hi-tech Reliance Cash 4 3500 14000
1-7-10 590 Start electronic TV HDFC 3 8000 16000
1-8-10 360 Tips Computer Credit 2 22000 44000
1-9-10 856 Navneet Files Cash 12 40 480
1-10-10 1456 Start electronic Vodafone DCB 5 6000 30000
1-11-10 789 Hi-tech MP4 Cash 4 4000 16000
1-12-10 456 Navneet Parker Cash 15 400 6000
1-1-10 985 Tips Camera Credit 2 15000 30000
1-2-10 869 Start electronic Nokia credit 10 4500 45000

Sale voucher:

Date Ref Party name Items Transaction Qty rate Amt

5-4-2010 5201 Avon brother Washing- Credit 2 10000 20000
m
5-5-10 5202 Sony & sons TV Credit 5 9500 47500
5-6-10 5203 Max touch I-pod Cash 2 3500 7000
5-7-10 5204 Sony & sons DVD Credit 3 4500 13500
5-8-10 5205 Zebron Nokia Cash 10 5000 50000
15-8-10 5206 Max touch LG HDFC 3 4000 12000
5-9-10 5207 Avon brother Camera Credit 4 16000 64000
20-9-10 5208 Max touch I-pod DCB 3 4000 12000
5-10-10 5209 Venus Parker pen Cash 5 450 2250

Good Luck Institute

 Tally Notes
25-10-10 5210 Zebron MP3 HDFC 2 3500 7000
5-11-10 5211 Mike corporate Computer Credit 3 25000 75000
5-12-10 5212 Hi-tech Register Cash 25 45 1125
5-1-11 5213 Swift corporation TATA– DCB 4 6500 26000
Indi
5-2-11 5214 Mike corporation DVD Cash 3 5000 15000
5-3-11 5215 Hi-tech Parker pen Credit 10 550 5500

Payment voucher:

Date Angst bill Party name/expense Transaction Amount

5-5-2010 101 Shiny brother HDFC 4000
25-5-2010 Salary cash 2500
6-6-2010 commission cash 2000
8-7-2010 209 Anchor cash 18000
3-9-2010 360 Tips HDFC 44000
12-2-2011 869 Start electronic DCB 30000
30-2-2011 985 Tips HDFC 30000
5-3-2011 Rent cash 3000

Receipt voucher

Date Angst bill Party name/income Transaction Amount

17-5-2010 5201 Avon brother HDFC 20000
25-6-2010 Commission Cash 5000
30-7-2010 5202 Sony & sons DCB 47000
30-7-2010 rent Cash 1200
12-9-2010 5204 Sony & sons DCB 13500
20-9-2010 debenture HDFC 500
5-10-10 5207 Avon brother HDFC 64000
25-3-2011 5215 Hi-tech DCB 5500
28-3-2011 5211 Mike corporate HDFC 50000

Debit and credit note:

Date Angst bill Party name Items Qty Rate

no
5-10-2010 101 Shiny brother I pod 1 2000
15-2-2011 5211 Mike corporate Computer 1 25000
3-3-2011 869 Start electronic Nokia 2 4500

Good Luck Institute

 Tally Notes

Journal voucher

Date Angst bill Particular Amt

no
13-8-2010 5202 Bad debts(Sony & sons) 500
31-3-2011 Depreciation(furniture) 5%

Assignmen t 4:

Company name: Koda k (1-4-2010 to 31-3-2011)

Ledger Opening bal
SBI bank Rs.20000
DCB Bank Rs.30000
Cash Rs.100000
Naaz pvt ltd Debtors
Singh industry Debtors
Rafi & company Debtors
Bashir industry Creditors
Sayyed pvt ltd Creditors
Disooza & company Creditors
Machinery Rs.50000
Land Rs.100000
Furniture Rs.30000

Group Items Qty Rate (Rs)

Shirt Apple 5 500
Spykar 10 1000
Lee cooper 5 1400
T- Shirt Reebok 7 800

Good Luck Institute

 Tally Notes
Addidas 4 1200
Cottons 6 1100

Date Particulars
5-4-2010 5 Spykar shirt sold to sing industry of Rs. 1500/- each.(ref.S100)
7-4-2010 Purchased 5 Reebok T-shirt from Bashir industry worth Rs. 1400/- each.
(ref.P2356)
1-5-2010 4 Apple shirt sold to Rafi & company of Rs. 800/- each.(ref.S101)
1-6-2010 Purchased 10 Lee Cooper Shirt From Disoza & company worth Rs.
1600/- each(ref.P6456)
1-7-2010 Purchased 2 cottons T-shirt from Sayyed pvt ltd. Worth Rs. 1300/- each.
(ref.P563)
1-8-2010 2 Reebok T-shirt sold to Naaz pvt Ltd. Worth Rs. 1000/- each. (ref.S102)
1-9-2010 Purchased 3 Addidas T-Shirt from Bashir industry worth Rs. 1500/-
.(ref.P2357)
1-10-2010 2 Lee cooper sold to Rafi & company worth Rs. 1600/-.(ref.S103)
1-11-2010 Purchased 1 Spykar Shirt from Bashir industry worth Rs. 1200/-
.(ref.P2358)
1-12-2010 Purchased 4 Apple Shirt from Disoza & company worth Rs.700/- (ref
P2001)
1-1-2011 Sold 5 Lee cooper Shirt to Rafi & company Worth Rs.1800/- (ref S2359)

25-4-2010 Paid convenes charge of Rs. 150/-

13-5-2010 Paid wages of Rs. 1500/-
9-6-2010 Salary paid of Rs. 1000/-
15-7-2010 Office stationery paid by cheque(SBI) of Rs. 3500/-
25-8-2010 Bad debts of Rs. 500/- on Singh industry.(agnst ref.100)
9-9-2010 Paid wages through cheque(DCB) of Rs.1000/-
4-10-2010 Deprecation of Rs.2000/- charge on machine.
8-11-2010 Cheque(SBI) paid for telephone bill of Rs. 540/-
27-12-2010 Cheque(DCB) paid for electricity bill of Rs. 350/-

6-4-2010 Cash of Rs. 10000/- deposit into SBI bank.

8-5-2010 Cash of Rs. 7000/- Deposit into DCB bank.
3-6-2010 Cheque (DCB) deposit into SBI bank of Rs. 1500/-
7-7-2010 Cash of Rs.5000/- withdraw from SBI Bank.
15-8-2010 Cheque (SBI) deposit into DCB bank of Rs. 3500/-
25-9-2010 Cash withdraw from DCB bank of Rs.7000/-
6-10-2010 Cash withdraw from DCB bank of Rs.3000/-
28-10-2010 Cheque deposit into DCB bank of Rs. 12000/- from SBI bank
6-11-2010 Cash withdraw DCB Bank of Rs.4500/-
3-12-2010 Cash withdraw SBI bank of Rs.2000/-

Good Luck Institute

 Tally Notes
5-5-2010 Cash receive of Rs.4000/- from Singh industry. (agnst ref.S100)
15-10-2010 Cheque (DCB) receive by Rafi & company worth Rs.3200/-.(agnst
ref.S101)
25-5-2010 Paid cash to bashir industry of Rs.5000/-( agnst ref.P2356)
13-6-2010 Paid cheque (SBI) to Disoza & company worth Rs.12000/-( agnst
ref.P6456)
15-9-2010 Cash received from Naaz Pvt Ltd. Of Rs.2000/-( agnst ref.S102)
30-6-2010 Cheque (DCB) receive from Singh industry Rs.2000/-.( agnst ref.S100)
12-12-2010 Paid cheque(DCB) to Bashir industry worth Rs.5700/-( agnst ref.P2357
& P2358)
5-1-2011 Paid cash to Disooza company of Rs. 4100/-( agnst ref.P6456 & 2001)
10-1-2011 Cash received from Singh industry ofRs.1000/-( agnst ref.S100)
25-1-2011 Paid cash to Bashir industry of Rs.2000/-( agnst ref.P2356)

9-12-2010 2 Apple shirt return to Disoza & company worth Rs. 700/- (ref 2001)
15-1-2011 1 Lee cooper shirt return from Rafi & company of Rs. 1800/-(ref 2359)

Assignmen t 5:

Company name: Sony (1-1-2010 to 31-12-2010)

LEDGERS OPENING BAL

Mehta industry Debtors
Avon steel company Debtors
Jakti trader Debtors
Soft tech company Debtors
Max traders Creditors
Kane & son Creditors
Toni brothers Creditors
Iron & steel company Creditors
Wages Rs.500
Salary Rs.200
Machinery Rs.50000
building Rs.100000
Furniture Rs.25000
Cash Rs.30000
Mercantile bank Rs.20000
Bank of Baroda Rs.15000
Loan liabilities Rs.75000

Good Luck Institute

 Tally Notes
Capital A/c Rs.100000

Stock group Item Qty Rate(Rs.)

Electronic Washing 7 6000
machine
fridge 5 7000
MP3 10 12000
TV 6 7000
AC 5 6800
Computer Monitor 5 4500
Hard disk 10 2400
RAM 20 900
CPU 7 4000
Mother board 9 3500
Key board 12 200
mouse 20 400

Date Ref Descriptions

No
1-1-2009 001 Sold 4 CPU Of Rs.4500/- To Soft-Tech Company.
1-2-2009 002 Sold 3 Mother Board Of Rs.4000/- To Soft-Tech Company.
1-1-2009 111 Purchased 4 TV Of Rs.7000/-From Kane & Sons.
1-2-2009 222 Purchased 8 AC Of Rs. 6000/- From Max Traders.
1-3-2009 003 Sold 10 RAM Of Rs.1000/ To Mehta Industry .
1-4-2009 004 Sold 5 Hard Disk Of Rs.2500/- To Mehta Industry.
5-4-2009 005 Sold 4 Washing Machines Of Rs.7000/- To Jakti Trader.
4-4-2009 333 Purchased 5 MP3 Of Rs.5000/- From Toni Brothers.
5-4-2009 006 Sold 1 TV Of Rs.7000/- To Avon Steel Company.
13-2-2009 Receive Cash Of Rs.12000/-From Soft-Tech Company Against
Bill No 002.
25-3-2009 Received Cheque(Bank Of Baroda) Of Rs.4000/- From Mehta
Industry Against Ref No. 003.
3-4-2009 Received Cash Of Rs. 1000/- From Mehta Industry Against Ref
No. 003.
15-4-2009 Received Cheque (Mercantile Bank) Of Rs. 12500/- From Mehta
Industry. Against Ref No. 004.
14-2-2009 Paid Cheque (Mercantile Bank) Of Rs.24000/- To Max Trader
Against Ref No. 222.
28-2-2009 Paid Cash Of Rs. 4000/- Against Bill No. 222.
15-3-2009 Paid Cheque (Bank Of Baroda) To Max Trader Of Rs. 10000/-
Against Ref No.222.
Paid Cash To Toni Brothers Of Rs.10000 Against Ref No.333.

Good Luck Institute

 Tally Notes
Paid Cash Of Rs. 8000/- To Max Traders Against Bill No. 222.
17-3-2009 Paid Cheque (Bank Of Baroda) Of Rs.2000/-To Max Traders
Against Ref No. 222.
18-1-2009 Purchased Return 2 TV Of Rs.7000/- To Kane & Sons Against
Ref No. 111.
7-3-2009 Sales Return 4 RAM Of Rs. 1000/- From Mehta Industry Against
Ref. No. 003.
27-3-2009 Purchased Return 3 MP3 Of Rs. 5000/- From Toni Brother
Against Ref No. 333.
19-4-2009 Sales Return To 2 Washing Machines Of Rs. 7000/- From Jakti
Trader Against Ref No. 005.
20-5-2009 Sales Return 3 CPU Of Rs. 4500/- From Soft-Tech Company
Against Ref. No.001.
25-5-2009 Office Expenses Paid By Cheque ( Mercantile Bank) Of Rs. 300/-
12-6-2009 Received Cash From Jakti Trader Rs.14000/- Against Ref No.005.
23-6-2009 Paid Cash Of Rs. 1000/- To Mehta Industry. Against Ref No 003.
30-6-2009 Received (Bank Of Baroda) Of Rs. 4500/- From Soft-Tech
Company.
3-7-2009 Bad Debts Of Rs.1500/- On Avon Steel Company Against Ref No
006.
10-7-2009 Depreciation Of Rs. 2000/- On Machinery And Rs.3000/- On
Furniture.
14-7-2009 Rs 5000/- Withdraw For Personal Use (Mercantile Bank).
26-7-2009 Paid Cash Salary Of Rs. 2000/-.
5-8-2009 Paid Wages By Cheque (Mercantile Bank) Of Rs.1000/-.
14-8-2009 Receive Cheque (BOB) To Avon Steel Company Of Rs. 5500/-
Against Ref. No. 006.
23-8-2009 Cash Deposit In BOB Into Mercantile Of Rs 3000/-.
27-8-2009 Cash Withdraw From Mercantile Bank Of Rs.2000/-.
30-8-2009 Paid Cash Of Rs.14000/- To Kane & Sons Against Ref No.111.

Good Luck Institute

Tally Notes
Assignmen t 6:

Info-mart Pvt ltd

Balance sheet as on 31st March 2011
Liabilities Amount Amount Assets Amount Amount
Share capital 545000 Deposit for 200000
premises
Loan from directors 317000 Investment in 100000
debenture
Provision for 50000 Motor car 300000
depreciation
Loan from IDBI 200000 Bank of India 283000
against motor car
Outstanding expenses Cash in hand 59000

 Electricity 5000 Closing stock 180000

 Telephone 5000 10000
1122000 1122000

Stock statement as on 31st March 2011

GROUP CATERGORIES ITEMS

486
HCL
CPU 386
P1
IBM
P2
View Sonic 15” Color monitor
Monitor 21” Color monitor
Micro-Teck 15” Mono monitor
21” Mono monitor
Tally Notes
Stock as per schedule on 31st March 2011

Sr. Items Purchased Sale Units Godown

No. Price Price
1 486 7000 10000 6 Andheri
2 386 5000 8000 4 Andheri
3 P1 10000 13000 4 Andheri
4 P2 12000 15000 4 Andheri
5 15” Color monitor 5000 7500 5 Kural
6 21” Color monitor 5500 8000 6 Kural
7 15” Mono monitor 3000 5000 4 Kural
8 21” Mono monitor 3500 7500 4 Kural

PURCHASE VOUCHER

(ASSUME IN CREDIT)

DATE BILL Party Name of Godown quantity Per Unit Amount

NO name items (price)
5-4-11 HS4 Hyundai 486 Andheri 3 7000 31000
386 2 5000
5-6-11 W50 Wipro P1 Andheri 3 10000 30000
15-8-11 W55 Wipro P1 Andheri 5 10000 110000
P2 5 12000
19-10- DM5 Delta 15” Color kurla 5 5000 52500
11 21”Color 5 5500
25-12- BK15 Boot- 15” Mono kurla 3 3000 19500
11 Mark 21” Mono 3 3500
5-1-12 RL25 Rolta P2 Andheri 5 12000 162500
P1 Andheri 5 10000
15” Color Kurla 5 5000
21”Color kurla 5 5500
Tally Notes
SALE VOUCHER
(ASSUME IN CREDIT)

DATE BILL Party Name of Godown quantity Per Amount

NO name items Unit
(price)
2-5-11 PS1 S R 486 Andheri 2 10000
enterprises 386 2 8000 36000
8-7-11 PS2 A S P2 Andheri 2 15000 30000
Trading
15-9- PS3 P1 Andheri 6 15000
11 Ramon P2 Andheri 6 13000
15” Color Kurla 6 15000 261000
line
21”Color Kurla 6 8000
19-11- PS4 K.T. 15” Mono Kurla 5 5000 62500
11 computers 21” Mono 5 7500
25-1- PS5 Videocon P1 Andheri 6 25000
12 Ltd P2 5 24500 272500

23-3- PS6 Baron 486 Andheri 3 9000

12 InfoTech 27000

RECEIPT VOUCHER

(1-4-2011 to 31-3-2012)

Date Bill No. Party Name Mode of Cheque No Amount

Payment
3-6-11 PS1 S R Enterprises Cash ------ 36000
8-8-11 PS2 A S Trading Cheque 85988 30000
1-10-11 Interest on Cheque 1252 7500
investment
15-10-11 PS3 Ramon line Cheque 85989 190000
Cash ------- 10000
20-10-11 PS3 Ramon line Cheque 8939 61000
21-12-11 PS4 K.T. computers Cheque 7132 62500
27-2-12 PS5 Videocon Cheque 7555 272500
1-3-12 Commission Cheque 1238 5000
31-3-12 Interest on Cheque 20251 7500
investment
Tally Notes
PAYMENT VOUCHER
(1-4-2011 to 31-3-2012)

Date Bill No. Party Name Mode of Cheque No Amount

Payment
6-5-11 PT5 Purchase of Cheque 75161 50000
furniture
6-6-11 HS4 Hyundai Cheque 75162 24000
13-8-11 W50 Wipro Cheque 75163 30000
14-10-11 W55 Wipro Cheque 75164 100000
Cash -------- 10000
20-12-11 DM5 Delta Cheque 75165 52500
27-12-11 BK15 Boot Mark Cash -------- 16500
31-1-12 Salary Cheque 75166 3000
5-2-12 Rent Cash ------- 2000

Other information
1 On 10th April, one 486 CPU returned to Hyundai against bill no HS4.(Andheri
Godown)
2 On 26th December, one 15” Mono Monitor found defective and returned to Boot
mark against bill no. BK15(kurla Godown)
3 On 25th march 486 CPU received from Baron Info Tech as defective against bill NO.
PS6 and kept in Andheri Godown
4 On 4th June cash deposit in bank Rs.36000/-
5 On 16th October cash deposit in bank RS.10000/-
6 On 29th April cash withdrawn from bank Rs.30000
7 On 30th May cash withdrawn from bank Rs.45000/-
8 On 29th June cash withdrawn from bank Rs.47000/-
9 On 13th October cash withdrawn from bank Rs.15000/-
10 Provide depreciation on Fixed assets @20%

Assignmen t 7 : (VAT)
Company name: Cen t e r one shopping cen t e r . (1.4.2011 to 31.3.2012)

ledger Opening balance

Tally Notes
SBI bank 50000
Dena Bank 45000
Furniture 38000
Computer 50000
Land & building 100000
Cash in hand 50000

Purchased Entry

Date Bill No. Party Item Qty Rate Vat

Name
1.4.2011 P865 Jilani Gold Ring 1 20000(no) 1%
5.4.2011 P789 Hussain Wrist Watch 3 6000(no) 12.5%
6.4.2011 P698 Akbar Pepsi 8 60(btl) 20%
8.4.2011 P3577 Bilal Bicycles 2 3500(no) 4%
9.4.2011 P685 Jilani Silver Earring 1 6500(no) 1%
15.4.2011 P235 Saad Green 4 800(box) 4%
Tea Leaf
19.4.2011 P028 Anas Glucose-D 5 150(box) 4%
20.4.2011 P608 Akbar 7-Up 3 72(btl) 20%
22.4.2011 P963 Akbar Mangola 5 75(btl) 20%
24.4.2011 P758 Junaid Video Game 2 8000(pcs) 12.5%
28.4.2011 P693 Akbar Tums Up 9 50(btl) 20%

Sale Entry

Date Bill No. Party Item Qty Rate Vat

Name
1.5.2011 S125 Abdul Glucose-D 3 400 4%
Qadir
5.5.2011 S126 Shoeb Gold Ring 1 35000 1%
6.5.2011 S127 Ubaid Green 3 1300 4%
Tea Leaf
7.5.2011 S128 Zaid Wrist Watch 1 10000 12.5%
10.5.2011 S129 Umaar Bicycles 1 7000 4%
12.5.2011 S130 Aman Silver Earring 1 9800 1%
16.5.2011 S131 Hasan Tums Up 5 90 20%
18.5.2011 S132 Ahmed Video Game 1 11000 12.5%
20.5.2011 S133 Salim Pepsi 7 110 20%
Tally Notes
21.5.2011 S134 Jamil Bicycles 1 6000 4%
23.5.2011 S135 Ibrahim Mangola 4 95 20%
25.5.2011 S136 Anwar Wrist Watch 2 9500 12.5%
27.5.2011 S137 Ismail Tums Up 3 95 20%
29.5.2011 S138 Ali 7-Up 2 92 20%

Other Information:
Date Particular
6.4.2011 Cash Deposited Into The Bank Of SBI Bank Rs.15000/-.
3.6.2011 Cheque Paid To Against Bill No.P789, P698, P3577, P235, P028, P963,
P693, And P608 In Full Settlement.
9.7.2011 Full Cash Received From Ali, Ismail, Ibrahim, Anwar, and Salim.
25.7.2011 Cheque Received From Jamil & Ahmed With 1% Discount Against Bill
No.S134, S132.
3.8.2011 Commission Received Rs.5000/-.
13.8.2011 Cheque Paid To Mr. Jilani With 2% Discount Against Bill No. P865,
P685.
20.9.2011 Cash Withdraw From SBI Rs.5000/-.
15.9.2011 Cash Paid To Junaid With 3% Discount Against Bill No. P758.
25.9.2011 Cheque Received From Against Bill No. S125, S126, S127, S128, S129,
S130, S131 In Full Settlement.
1.10.2011 Salary Paid Rs.15000/-.
31.3.2012 Depreciation Charge 5% On Furniture And Land & Building.