Tally
erp9
Basic to
fundamental
Table of contents
1) Basic of Accounting.
2) About Tally erp9.
3) Master
4) Transactions
5) Inventory management.
6) Reporting
1 Basic of accounts
What is accounting?
Accounting :- it
is an art of recording ,classifying, & summarizing in significant manner in
term of financial transaction or activities in the systematic manners.
Accounting
is a cumulative of followings:-
1)
Identifying.
2)
Recording.
3)
Classification.
4)
Reporting.
Accounting is classified 3
type on UK based (old methods)
A)
Real account
B)
Personal account
C)
Nominal accounts
Real account – account heads relating properties
& assets of business come under this account.
Example-land
a/c, building a/c, goodwill a/c, purchase a/c ,cash a/c.
DEBIT What comes in / CREDIT What goes out.
Personal account – personal accounts are accounts which
related to persons.
Example
–suppliers a/c, customer a/c , lenders a/c
. DEBIT the receiver and CREDITS The giver .
Nominal accounts – nominal a/c are accounts which
related to income & expenses and gains & losses of a business concern.
Example-sales
a/c, salary a/c, dividend a/c.
All
expenses and losses are debited and all income and
gains are
credited.
Accounts head & effects
1 ) creditors :- The person from which we purchase goods on
credits is called creditor.
It can be any individual , company, firm,
society etc.
[When goods are purchased creditors a/c is
credited & goods a/c is debited. while making payment creditors a/c is
debited with cash/bank a/c.]
2) Debtor:-The
person to whom goods is sold on credits is called debtor.
It can be any individual, company, firm,
society etc.
[When goods are sold debtor’s a/c is debited
and when money is received the same is credited].
3) Capital: -
capital is the amount invested for starting a business by a person. it come
under capital head.
4) Loan & liability:-when a business requires additional capital
.it borrows loan from bank or others.
5) Loan & advances:-when a business gives loan to any another. it
comes under the head of loan & advances.
6) Purchase: -
a purchase means goods purchased by a businessman from suppliers. This head
come under the trading a/c (purchase)in the debit side.
7) Sale: -
a sale is goods sold by a businessman to his customers.
This is come under trading a/c (sales) in the
credits side.
8) Direct expenses :- these are the expenses which are directly
related to manufacturing of goods.
Ex-wages, factory rent, lighting.
9) Indirect expenses:- these are the expenses which are indirectly
related to manufacturing of goods.
Ex –salary, rent , stationary ,
advertisement, printing. travelling.
10) Direct income :- there are various service sectors which gives service to others and
earn. The income is come under this head.
11) Indirect income: - The
income which we received indirectly are come under this head. Ex- interest
received from bank.
12) FIXED ASSESTS: - The assets which are fixed in nature or can
be used for more than 1 year are called fixed assets. Ex- land , machinery.
13) Deprecation:- the value of assets never stables. It
decreases due to the Ericson over time. The decreasing value is called
deprecation.
Accounting
period :- In
a business profit is calculated over a fixed period only.
Calendar
year: - 1st January to 31st December.
Accounting
year: - 1st April to 31st march.
Journal
entry :-
A daily records of transitions.
Ledger :- The book of
final entry where account lie.
Trail
balance :- It
is a statement of all the ledger account balance prepared at the end of
particular period to verify he accuracy of entries’ made in a book of accounts.
Profit:-Excess of
credits side over debit side.
Profits
& loss account :-
It is prepared to ascertain actual profit or loss of the business.
Balance
sheet :-
To ascertain the financial position of business. It is a statement of assets
and liabilities.
Sundry
creditors:-
The person who gives or supplier.
Sundry
debtors:-
The person who receiver or customer
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