Tally Erp 9

Tally Erp 9 Complete Tutorial

Tally simply means to count, Erp Means Enterprise Resources

Planning.

What Is Tally?

Ans:- Tally is a business accounting software. It is the world’s fastest

and most powerful and multi lingual business accounting software.

· It is the fast, Reliable, powerful and scalable software.

· It is designed exclusively to meet the needs of both small scale

and large scale industries.

· It is fully integrated affordable and highly reliable software built

on the proprietary technology of accounting solutions.

· It is easy to buy, Quick to Install Simple to Learn.

It is designed to automate and integrate all your business operations

such as payment receipt purchase sale etc.

Features Of Tally

· Speed

· Power

· Simplicity

· Scalability

· Real Time Processing

· Online Support

Tally is developed by SS Geogle in 1986 at Bangalore India.

First Page of Tally is called the Gateway of Tally.

 

What Is Business Accounting and what is software.   

Basics of Accounting

What is accounting?

 

Ans: - In general we say that the accounting is the language of business

with books of accounts being its script and debit-credit of its style i.e. is

the way of expressing it. Language is a means for communicating with

the users. To make any language more effective and powerful so that it

can be recognized by all users, it must have a script and a style.

Definition of accounting:-Accounting is the process of identifying

measuring and communicating the information to its users.

According to American Accounting Association (AAA), Accounting is

the art of classifying recording measuring and summarizing of the

accounting transactions in order to get the financial position of the

business.

Transactions: - The business event having the financial impact on the

financial statement of a business is known as the transaction.   

The activity where buying, selling, exchanging of the products and the

services between the seller and the customer takes place is known as

the transaction.

It includes the following:-

· Sale of a product to a customer in cash

· Sale of a product to a customer on the credit.

· Making the payment of an invoice.

· Receiving and paying the discount, interest, expenses etc are also

the examples of the transactions

By the above definitions the accounting is the process which includes

the following:-

· Identification

Identifying the transaction means the selecting of the transactions to be

recorded. Only those transactions should be recorded which are

related to the organization and have a financial character.

· Measurement

   

The identified transactions which can be quantified estimated and

measured in terms of the monetary units viz, Rupees, Dollars, yens etc.

· Recording

Accounting transactions must be recorded in a proper and systematic

manner after having been identified and measured in the financial

terms.

· Communication

Identification, Measurement and recording of accounting transactions

is done, In order to interpret the results and get the desired information

generated the communication is necessary to the external and all

internal users.

 

Basic Accounting Terms

 

· Entity:-Entity simply means a thing having a definite and

individual existence. In this context the business enterprise means

an identifiable business enterprise. E.g. Abe ltd. Adtech Computer

Centre etc.   

· Capital:-The amount in shape of money and money’s worth

invested by the owner in the business enterprise is known as

capital. By money’s worth we mean that we can invest capital in

the shape of assets required by the business.

· Revenue:-Revenue refers to the gross inflow of the cash,

receivables and other considerations generated by the business in

its ordinary course of operations.

· Income:-The result of the business activities and other activities

that increase the net worth of a business enterprise is known as

income.

Income is grouped into two categories

· Direct Income:-Direct income depends upon the nature of

the business, If the business is selling, the income earned

from sales is direct income for business. And all other

incomes received are indirect incomes. E.g. income received

from lottery, discount, Interest are the examples of indirect

incomes for the above mentioned business.

· Indirect Income:-Indirect incomes are those incomes which

are received other than its primary objectives or the income

which is received but not the on the behalf of its nature are   

indirect incomes. E.g. discount received, income from sale

of old computer etc are the examples of indirect incomes.

· Discount:-Discount is the reduction in the price for obtaining the

payment before it becomes due for payment. Discount is of two

types (i) Cash discount:-It is the allowance or concession given

by a supplier to a buyer on the amount due for him.

(ii)Trade Discount:-It is the allowance given by the supplier to

the buyer on the invoice price for all goods. Generally in case of

new launch of a product or to capture the market.

· Debtors:-The parties to whom the sale of a product is made on the

credit are known as the debtors. Debtors are shown on the right

hand side of the balance sheet under the headings current assets.

· Drawings:-Cash or the goods withdrawn by the proprietor or the

owner of the business of a firm for their personal use are known

as the drawings. The amount of capital is reduced by the amount

of drawings.

· Expenses:-Expenses refers to the amount spent on the cost of

goods and services used up for generating the revenue during the

accounting period. E.g. salary paid to employees, Advertisement

expenses for promoting the sales. Etc.

Expenses are categorized into two categories

· Direct Expenses:- Those expenses which are directly related

to the manufacturing of goods e.g. Wages, Custom Duty,

Carriage Inwards, cargo expenses, shipping expenses,

commission on purchases, packing charges, royalty etc.

· Indirect Expenses:-All other expenses which are related to

the business are called indirect expenses. E.g. Salary paid to

employees, rent paid, interest paid, discount, commission,

repairs, depreciation and other trade expenses etc.

· Profit:-Excess of revenue over the expenses during the accounting

period from the normal course of business.

· Voucher:-The documents prepared for the purpose of recording

of the business transactions in the books of accounts are known

as the vouchers. The vouchers act as the evidence for the business

transactions.

 · Creditors:-The parties who allow business to get the purchase on

the credit are known as the creditors. The creditors are shown on

the left hand side of the balance sheet under the headings current

liabilities.

· Asset:-The economic resources that can be usefully expressed in

the monetary terms are known as the assets. These are the items

of value used for the operations of the business enterprise. E.g.

Machinery, Land & Building Furniture etc.

Assets are of two categories

(i)Current Assets:-The assets held by the by the business for the

short time. Normally the short time period is referred to an

accounting period not more than 12 months. e.g. cash, debtors,

stock etc.

(ii)Fixed Assets:-The assets held by a business for a long term

purpose. The intention of holding these assets is to utilize them

for the purpose business and not for the sale or resale during the

ordinary course of business. E.g. Land & Building, Plant &

Machinery, Furniture & Fittings etc.   

· Purchase: - Purchase means the buying of the goods for the sale

or resale with the intention of earning the profits during the

ordinary course of the business.

· Gains:-Any profit arises from the business transactions other than

main operations. e.g. Decrease in the value of liabilities, Increase

in the value of assets

· Goods:-Goods means all items of the stock which are purchased

and resold during the ordinary course of business with the

intention of profit are called goods.

· Receivables:-Receivables refers to the amount due from the

entries other than debtors. It is an asset and is appeared on the

left hand side of the balance sheet under the heading current

asset. E.g. Bills receivable

· Liabilities:-Debts or obligations that a business enterprise has to

pay are known as liabilities. E.g. Loan taken from jkbank, goods

purchased on credit etc.

Liabilities are categorized into two groups

(i)Long-term liabilities:-liabilities which are usually paid after

one year are termed as long-term liabilities.

(i)Short-term liabilities:-Liabilities which are paid within one

year are termed as short-term liabilities. E.g. current liabilities

· Sales:-Total revenue from the sale of goods and services rendered

by a business during an accounting period is known as sales and

are shown on the right hand side i.e. credit side of the profit &

loss account.

· Cost:-The portion of expenditure allocated to a specific product

or service is known as cost of the product.

· Loss:-Excess of expenses over the revenue is termed as loss. E.g.

Decrease in capital

· Stock:-Stock refers to the goods, which an enterprise deals in,

Available with the enterprise for the sale on a particular date.

e.g. Raw material, Finished goods, Semi-finished goods. Etc.

· Payables:-Payables are the amounts due to the entries other than

creditors. It is appeared on the left hand side of the balance sheet

under the heading current liabilities.Let’s began to start the operations

The first main thing to start the operations we need to create the

company.

What is a company?

Ans :- A company is an association of persons or a body of individuals

or the mixture of the both. It is a separate legal entity to carry its

business operations.

Company members share the common purpose and unite in order to

focus their various talents and organize their collectively available

skills or resources to achieve a specific goal. Companies take various

forms such as

· Voluntary association which may be non-profit organizations.

· A group of firms.

· Business entities and banks.

· Business entities with the aim of earning profits.

· Financial entities.

According to Indian companies act 1956, A company is an

association of persons and is created by law as a legal person so

that a company itself can accept limited liability for the civil

responsibility and taxation incurred as members fail to discharge

their duty because the companies are legal pensions, they also

associate and register themselves as companies often are known as a

corporate group. When the company closes it may need a death

certificate to avoid further legal obligations.

How to Create Company in Tally ERP 9.

Syntax:- Click on Start Button> Programs>Tally>Enter

Go to Work In Educational Mode > Single or Multi User Mode.

Creating a Company involves providing basic information about the

company

Accounts are to be maintained in Tally.ERP 9.

Go to Gateway of Tally > (Alt+F3) Company Info. > Create Company

Mailing Name and Address

In addition to the Company Name, Tally.ERP 9 provides the facility to

enter the Mailing Name field.

It displays the Company Name by default. You may change it as

required, if the mailing name is

different from the Company Name.

Select the Country from the List of Countries. The Statutory Features

and Base Currency Symbol are enabled in accordance with the country

selected. For example, if the accounts belong to a company in India,

the base currency would be Indian Rupees. The Base Currency will

appear with respect to the Country selected. Selecting India from the

List of Countries brings up a State, Pin Code and Telephone No. field.

State You can select the appropriate state from the predefined list.

PIN Code

Specify the PIN Code (Postal Index Number) of the specified address.

Telephone

Enter the Telephone number.

Mobile No

Enter the mobile number of the company.

E-mail Address

Enter the E-mail address that will be used to e-mail documents, reports

and data from Tally.ERP 9.

Enable Auto Backup

Set this to Yes, if you want to enable the automatic backup of Tally.ERP

9 data (per company). Else, set

this to No. The data backup is stored in the data folder of the respective

company. The auto backup data

Currency

Currency symbol is the symbol of the base currency, that is, the

currency that will be used to maintain the books of account.

Maintain

Tally.ERP 9 displays a drop down for the Type of Company with two

options Accounts only and Accounts with Inventory

Select Accounts only if you do not have any inventory transactions

(suitable for professionals and corporate offices).

However, at a later date (if required) you can choose to alter the

information as Accounts-withInventory. Select Accounts-with-Inventory, to maintain both financial

accounts and inventory.

Financial Year From

In most countries, the books of accounts of a company are maintained

for a stipulated period like,

12 months, 15 months, and so on. This stipulated period is referred to

as the Financial Year.

The stipulated period of the financial year is 12 months in most

countries. Tally.ERP 9 automatically   

Considers 12 months from the date you give here as the Financial Year.

For example, if you enter April 1, 2008 as the date, the Financial Year

will be from April to March

Ending with March 31, 2009. If you enter October 1, 2008 as the

Financial Year From then the

Financial year will be from October 2008 to September 2008 ending

with 30th of September every

year.

Tally.ERP 9 allows you to maintain data for multiple years by

changing the period (Alt+F2) at the

Gateway of Tally. In addition, you can also specify the date of actual

establishment of the company

(Date of incorporation)

Books Beginning From Tally.

ERP 9 presumes that you wish to maintain books from the beginning of

the financial year.

Hence, Tally.ERP 9 displays the date given in Financial Year From

field automatically.

The date for Books beginning from can be changed, in case of

companies, which are incorporated in the middle of the year. If your

company is new, you can opt to start the books of accounts from the

date of actual establishment of the company (date of incorporation) but

close books according to the Financial Year as specified by you.

Tally.ERP 9 provides the required flexibility in such a case by allowing

 

 

  

   

you to give the date when the books of accounts actually began.

Tally.ERP 9 will open books from this date and close as on the last day

of the Financial Year. For example, if your company is established on

August 19, 2008, the opening balances for all the accounts can be

given as on August 19, 2008 even though the Financial Year given is

April 1, 2008 (April to March financial year). The company's books

will begin on August 19, 2008 and close on March 31, 2009, which

ensures smooth transition to the next year.

This concept can be applied even when you are migrating to Tally.ERP

9 from any other system or from a manual accounting system on any

day during the Financial Year. Close books in that other system on the

previous day and start books on Tally.ERP 9 from this day. You are

allowed to give opening balances of all Ledger accounts including

Revenue accounts.

Tally Vault Password

Tally Vault is an enhanced security system, which allows for encryption

of the company data.

Encryption involves converting normally accessible Tally information

into unrecognizable Information, which can only be reconverted by

authorized persons. Give a password here and repeat the same in the

Repeat field. This basically results in the creation of an encrypted

company whose information is not accessible to users other than the

password holder.

Password Strength

Password Strength indicator is available in Tally.ERP 9 from Release

4.5 onwards. Now, strength is displayed while creating / altering

passwords under Security Control, Tally Vault, and Control Centre.

 

 

  

   

Also when Password Policy is enabled, Password Strength is indicated

in the Change Password screen that appears for first time login.

Use Security Control?

Set this to Yes, if you want to initiate a password-protected system to

control access to Tally.ERP 9 data. Else, set this to No.

If you opt for security control, Tally.ERP 9 offers a comprehensive

password based access control to different features of Tally.ERP 9

based on authority lists created by the Administrator. For more

information refer Data Management in Tally.ERP 9.

Name of Administrator, Password, Repeat Assuming the Tally Vault

Password and Use Security Control is set to Yes enter the Name of

Administrator, Password and Repeat in the respective fields.

Use Tally Audit Features

Tally Audit allows the administrator or an auditor profile user to track

changes in accounting Information. If you wish to use this facility,

select Yes. Tally Audit will be available only to the

administrator/auditor, through Display of Statements of Accounts. For

more information refer Data Management in Tally.ERP 9.

Disallow opening in Educational mode?

Set this option to Yes, if you don't want the company to be opened in

Educational mode of Tally.ERP 9. Else, set this to No. On accepting the

company creation screen, if you have specified Tally Vault password,

Tally.ERP 9 prompts you to enter the Tally Vault password as appears:

After verification Tally.ERP 9 imports the latest statutory masters. Wait

till the screen shows that 100% of import is complete.

 

 

  

   

This completes the Company Creation process in Tally.ERP 9.

Voucher Entry in Tally.ERP 9

In accounting terms, a voucher is a document containing the details of

a financial transaction. For Example, a purchase invoice, a sales

receipt, a petty cash docket, a bank interest statement, and so on. For

every such transaction made, a voucher is used to enter the details into

the ledgers to update the financial position of the company. This

feature of Tally.ERP 9 will be used most often.

Accounting Vouchers

Tally.ERP 9 is pre-programmed with a variety of accounting vouchers,

each designed to perform a different job. The standard Accounting

Vouchers are:

· Contra Voucher (F4)

· Payment Voucher (F5)

· Receipt Voucher (F6)

· Journal Voucher (F7)

· Sales Voucher /Invoice (F8)

· Credit Note Voucher (CTRL+ F8)

· Purchase Voucher/Invoice (F9)

· Debit Note Voucher (CTRL+ F9)

Contra Voucher (F4)

 

For example: withdrawing money from the bank for petty cash.

Use a Contra Voucher to record the entry.

Contra Voucher

Description Records funds transfer between cash and bank accounts

Syntax:- Gateway of Tally> Masters>Accounts Info> Ledgers>

Create>e.g. Jkbank > Under Bank Accounts

Ctrl+A to save all.

Now press Esc Key to return to the gateway of tally

Now go to Accounting Vouchers >press F4 for contra voucher

Select Account which you want to deposit the money

 

 

  

   

Particulars select the account from which u want to withdraw.

Do the same procedure for all transactions.

Payment Voucher (F5)

For example, a company settles a creditor's bill by cheque.

 

Payment Voucher (F5)

 

Description Records all bank and cash payments

Use a Payment Voucher to record the entry.

Go to the Gateway of Tally > Accounting Vouchers > F5: Payment.

All payments are made in the payment whether we have to pay salary

of the employees or other expenses like E. Bill water bill, depreciation

etc.

 

Receipt Voucher (F6)

 

 

  

   

For example, the company receives a bank advice that the interest has

been credited to its deposit account.

Receipt Voucher

Description Records all receipts into bank or cash accounts

Use a Receipt Voucher to record the entry.

Go to the Gateway of Tally > Accounting Vouchers > F6: Receipt.

All the receipts are made in the receipt voucher e.g. we received

income from the house property, lottery, rent, interest, discount etc. We

need to use the receipt voucher.

 

What is balance sheet?

 

Ans:- Balance sheet is a financial statement prepared with a view to

measure the financial position of a business at the end of the

accounting period. The financial position of an enterprise is measured   

by its assets at a particular date and its liabilities on that date. Excess

of assets over the liabilities represents the financial soundness of a

company. Balance sheet also describes a statement showing the

sources and the application of capital. It is a statement not an account

and is prepared from real and personal accounts. The left hand side of

the balance sheet may be viewed as a description of the sources from

which a business has obtained the capital which it currently operates.

And the right hand side as a description of the firm in which that

capital is invested on a specified date. On the left hand side of the

balance sheet the several liability items describes how much capital

was obtained from the creditors and other subsidiaries etc.

Pre-defined Groups in Tally.ERP 9

By default, Tally.ERP 9 provides a list of Groups called pre-defined

groups. The user can create

any number of Primary Groups and Sub Groups which are again

grouped under a Primary

Group/Sub Group.

There are 28 pre-defined Groups in Tally.ERP 9, out of which 15 are

Primary Groups and 13   

are Sub-Groups.

15 Primary Groups 13 Sub Groups

Branch / Divisions Bank Accounts

Capital Account Bank OD A/c

Current Assets Cash-in-hand

Current Liabilities Deposits (Asset)

Direct Expenses Duties & Taxes

Direct Incomes Loans & Advances

(Asset)

Fixed Assets Provisions

Indirect Expenses Reserves & Surplus

Indirect Incomes Secured Loans

Investments Stock-in-hand

Loans (Liability) Sundry Creditors

Misc. Expenses (ASSET) Sundry Debtors

Purchase Accounts Unsecured Loans   

Sales Accounts

Suspense A/c

VAT in Tally ERP 9

VAT:- Value Added Tax Is a charge against the goods and in

deducted from the value of goods and is charged on purchases as well

as sales.

Input Vat:- it is a charge charged on the goods purchased and rate of

vat depends on the government polices e.g. Purchases@12.5%.

Output Vat:- Is a charge charged on the goods sold e.g. sales@12.5%.

How To Activate Vat In Tally ERP 9

Press F11>go to Statutory and Taxation >   

Use Vat>put yes

And enable all options regarding Vat.

Ledgers to create for vat

Input Vat

Input vat under duties and taxes

Use vat> yes 

Output vat    Under Vat    Input vat@12.5%

Output vat Under Duties and Taxes

Use vat> yes under vat      output vat@12.5%

Purchases @12.5%

Under purchases     account        >Use  vat     returns

yes>purchases@12.5%>Alter vat details yes

Enter to save

Sales@12.5%

Under sales account>use vat returns yes>sales@12.5%>Alter vat

details yes  

Enter to save

Debit Note (ctrl+F9):- is used to record the returns made to the

Supplier of stock or is used to get the net purchases from gross value of

purchases.

Syntax

Go to the Gateway of Tally>Press F11>Accounting Features then

activate debit notes and credit notes.

Use Debit/Credit Notes Yes

Activate all options of debit & credit notes.

Credit Note (Ctrl+F8):-  is used to record the returns received from the

customers in order to get net sales from the gross sales.

Syntax   

As Above.

Discount: - Is used to record the discount on purchases of such items

as well as sales o0f such items.

Syntax

Go to the Gateway of Tally

Press F11> Go to Inventory Features>Separate Discount column on

Invoices Set Yes

Enter To save

Sales Order(: - is used to deliver the sales order on a particular date &

time.

e.g. A customer needed the computer on a date like 16-dec-2015

Sales order is just used to make the delivery of computer on the above

date.

Syntax

Go to the Gateway of Tally

Press F11>Inventory Features>Allow Purchase Order Processing, Set

Yes

And Allow Sales order Processing, set Yes.

Purchases Order: - is used to make the receipt of such items on a

particular date

e.g. Business needed the machinery on the date like 31-dec-2015

purchase order is used to get the receipt of machinery on the above

date.

Syntax

Same as Sales Order.

Notes used for the sales and purchases orders

Receipt note(Alt+F9):- Is used to alter the details of purchases order

for the receipt of such items on a particular date. When goods arte

received the details of purchases order are altered.

Syntax   

Go to the gateway of Tally >Inventory Features>Use Tracking

Numbers For Delivery and Receipt notes Set this option Yes

Enter to save

Delivery Note(Alt+F8):- Is used to alter the details of sales order to

make the successful delivery of such items on a particular date. When

goods are just delivered on a particular date the details of sales order

are just altered.

Syntax

As above

Godowns:-Godowns are the destinations of goods purchased and

stored. The primary godown for every item where it gets stored is the

main location.

A company can maintain multiple godowons for storing its products for

the purpose of sale.

e.g. ABC ltd is situated in Srinagar and it has two branches one in  

and another in Awantipora. It can use three godowns one is main   

location for Srinagar,   for   branch and Awantipora for

Awantipora branch.

Syntax

Go to the Gateway of Tally>Inventory Features>Maintain Multiple

Godowns

Set This Option Yes

Enter To Save

Then go to the gateway of tally u will see that one more is activated in

inventory info i.e. Godowns

Enter to create the multiple godowns.

 

What is trading/profit & loss account?

 

Ans:- The profit earned or the loss sustained by a company during the

accounting period is determined by preparing the income statement

called the profit & loss account. The income statement of a business

enterprise is prepared into two parts first part is known as “Trading

Account” and the second part is called the “Profit & Loss Account”.

 

 

  

   

Through this statement the profit is ascertained into three following

stages;

· Gross Profit:- The profit in which the indirect expenses and

incomes are not included or the profit from which the indirect

expenses are not deducted and indirect incomes are not charged.

Ascertainment of gross profit is included in the trading account.

· Operating Profit:-The profit which does not include the charging

of interest and tax. It is also called Earnings before Interest and

Tax (EBIT). It includes the deduction of indirect expenses and the

charging of indirect incomes.

· Net Profit:- It is the profit which is divided among the

shareholders. The profit from which interest and tax are

deducted. It is also called Net Profit after Interest and Tax.

Format Of profit and loss account;

Trading/ Profit & Loss Account

 

 

  

   

Particulars    Amount        Particulars    Amount

To Opening Stock  xxx    By sales xxx

Less returns xxx

xxxx  xxxx

To purchases xxx

Less returns xxx

xxx    xxxx  By Closing Stock   xxx

To Direct Expenses xxxx

To Gross Profit       xxxx

xxxxx xxxxx

To Gross Loss C/D xxxx  By Gross Profit B/D         xxxx

To Indirect Expenses        xxx    By Indirect Incomes         xxxx

To EBIT       xxxx

xxxxx xxxxx

To Interest and Tax xxx

To Net Profit          Xxxx

xxxxxxx       xxxxxxx

                                                                                      

 

 

  

   

Journal (F7):- Journal is the book of original entry in which, after

following rules of debit and credit all transactions are recorded in a

systematic order.

The word Journal has been derived from a French word “jour”, which

means “a day”. Thus the journal is a book which records the

transactions on the daily basis, Thus transactions are recorded in

chronological order i.e. in order of their occurrence. It is used to

finalize the all accounts. Journalizing is defined as the process of

recording the transactions in the journal after determining the

particular amount to be debited and credited, each transaction is

separately recorded.

Journal is basically works upon the double entry system or Dual Aspect

Principal, Which says that each and every transaction has two folded

effects i.e. every debit there is opposite and equal credit.

It means that in a transaction, the amount debited on a product is equal

to the amount to be credited.

Types of accounts and their rules

 

 

  

   

· Real Account:- Real account is the account which is associated

with the real things. e.g. cash, machinery, etc.

Rule for Real Account:- Debit what comes in credit what goes out.

· Personal Account:- The account which is associated with the

persons is known as personal account. E.g. A’s capital account,

B’s account etc.

Rule for personal account:- Debit the receiver credit the giver.

· Nominal Account:- The account which is associated with the

name only or the account which exist in the name only. E.g.

Assets of the business, capital, Expenses etc.

Rule for nominal account:- Debit all expenses and losses credit all

gains and incomes.  

Group Name Ledger Name

All types of Purchase Accounts like

        Purchase Local 12%

        Purchase Interstate 12%

        Purchase Local 0%

        Purchase Interstate 0%

        Purchase (Composition)

        Purchase Exempt (Unregistered Dealer)

        Purchase Local (Exempt Registered)

        Purchase Taxable (Unregistered Dealer)

        Purchase Nil Rated (Unregistered Dealer)

        Purchase Reverse Charge

        Purchase Import Taxable 12%

        Purchase Import Exempt

        Purchase Import Nil Rated

        Purchase (Own Branch)

        Purchase Return

All types of Sales Accounts like

        Sales Local 12 % (Registered)

        Sales Interstate 12%

        Sales Local Nil Rated

        Sales Interstate Nil Rated

        Salers Export With Bond

        Salers Export Taxable

        Export (0%)

        Sales Local (Exempt Registered)

        Sale To Consumer (Taxable 12%)

        Sale To Consumer (0%)

        Sale To Consumer (Exempt)

        Sales (Own Branch)

        Sale Return

All types of Taxes like

        INPUT CGST SGST IGST CESS

        OUTPUT GST SGST IGST CESS

        Excise Duty Payable etc

        Service Tax Payable

        TDS Payables

        Input Vat Accounts

        Output Vat Accounts

        Cenvat Accounts

        Sale tax

        Income Tax

        VAT Payable

All expenses which appear in Trading Account (except purchases) like

        Labor

        Power

        Electricity Expense (Factory)

        Loading Unloading Expense

        Warehousing Expenses

        Custom Clearing Charges

        Carriage

        Freight & Cartage

        Import duty

        Wages

        Coal & Fuel

        Coal, Gas & Water of Factory

        Consumed Material

        Export Duty

        Wages on Production

        Delivery Charges(In Purchase Bill

        All Indirect Expenses like

        Rounded Off

        Salary

        Advertisement Expense

        Maintenance Expense

        Rent Expense

        Director Remuneration Expense

        Bad Debts

        Printing Expense

        Stationary Expense

        Foreign Exchange fluctuation

        Audit Fees

        Professional Charges

        Legal Expenses/Charges

        Depreciation Expenses

        Interest Expense

        Penalty

        Royalty

        Bank charges

        Commission allowed

        Discount allowed

        Donation & charity

        Free sample

        Insurance premium

        Interest on loan

        Legal charge

        Loss by fire

        Postage & courier

        Repair charge

        Taxi fare

        Telephone charge

        Travelling expenses

        Outstanding expenses

        Accrued expenses

        Bad debt

        Loss on theft

        Depriciation

        Coffee Expenses

        Coke Expenses

        Manager’s Commission

        Fuel Expenses A/c

        Liabilty of Expenses

        Preliminary Expenses A/c

        Professional Fees

All Indirect Income like

        Discount Received

        Interest on Investment

        Only 2 Accounts Already Created like

        Cash

        Profit and Loss Account

        Indirect Income OR Income(Indirect)

        Direct Expenses OR Expenses(Direct)

        Indirect Expenses OR Expense(Indirect)

        All Bank Current Account

        All Bank FD Account

        (Personal Savings Account and FD not recorded)

        All types of deposits like

        Security Deposit

        Electricity Deposit

        Rent Deposit

        All types of Capital Account like

        Share Capital

        Partner Capital Account

        Partner Current Account

        Proprietor Account

        Drawings

        Life insurance

        Equity Capital A/c

        Partners Capital A/c

        Prepaid Maintenance Expense

        Prepaid Expense

        Prepaid Rent

        Prepaid Insurance Charges

        Interest Receivables

        Bill receivable

        Accrued income

        Mutual Fund

        CGST SGST IGST Credit

        Bill drawn

Libalities

        Bill Payable

        CGST SGST IGST Payable

         Any Party from Whom Goods Purchased

        Party from Whom any Bill of Expense Received

        Any Party to whom we gave loan

        like Loan Given to Friends Relatives/Related Companies

        Any Party to whom we gave Advance

        like Advance to Supplier

        Any Party from whom we take loan.

        We can also put group Secured loan or Unsecured loan

        Debenture A/c

        Loans From Bank

        Loans From Outside Party

        Loans From Aravind(Friend)

All Fixed Assets on which Depreciation charged like

        Furniture

        Machine

        Plant and Machinery

        Mobile

        Computers

        Furniture and Fittings

        Car

        Scooter

        Laptops
        
        Office lighting

        Land & Building

        Capital A/c

        Current Assets

        Loans Liabilities

        Fixed Assets
    
        Bank Account

        Deposit Account

        Sundry Creditor

        Loans and Advances (Assets)

        Good will

Current Liabilities

        Factory lighting

        Air Conditioner

        Accumulated depriciation

        Cash Credit Limit (CC)

        taken from bank

        Overdraft Limit (OD)

        taken from bank

        Any Branch whose Separate Accounting Done

        (If branch account maintained by head office only, then this account not required)

          Branch in division


All types of Investments likeInvestment in Shares

        Investment in Bonds

        Investment in Property/Plot etc.

        Long term investment

        Short Term Investment

        Stock

        Closing Stock

        Consignment Stock

        Opening Stock

        Preliminary Expenses

        NOT yet written off

        Suspense Account

        Any payment or receipt from party whose name not known

        Suspense

        Loans for whom Security Given

        like loan from bank/ Financial Institution

        Loans taken for whom no Security given

        Like Short term loan from directors

        or loan from friends /relatives

        Any type of reserve like

        General Reserve

        Capital Reserve

        Capital Reserve A/c

        Investment Allowance Reserve A/c

        Share Premium A/c

        Reverse and Surplus

        All Provisions except Provisions for bad debts

        Provision for Tax

        Provision for Expense

        Provision for Sinking Fund

        All types of Payables like Salary Payable, Audit fees Payable,

        Provisions

        Branch/Divisions

        Investments

Other Investment Assets

        Misc. Expense (ASSET)

        Suspense A/c

        Secured Loan

        Unsecured Loan

        Reserve & Surplus

        Stock-in-hand

        Bank OCC

        Bank OD

        Cash in Hand

        Any Party to Whom Sales Made

        Provision for Bad Debts

        General Reserve

        Share Premium

        Any other Reserve

        Any Income from main service like

        Freight Charges Income

        Delivery Charges Income

        Transporation Charges Income

        Professional Charges Income

        Consultancy Charges Income

        Maintainance Service Income

        Retained Earring

        Direct Incomes OR Income(Direct)

        Sundry Debtors