Tuesday, July 8, 2014

Tally Inventory Tutorial: Problem - 1 (Volume-I)


Transitions: (Dt: 01.04.2014)
  1. Mr. Satyam  started business with cash Rs. 3,00,000
  2. Purchased Furniture worth Rs.20,000 for business use.
  3. Purchased 10 computers @10,000 each for resale.
  4. Sold 5 Computers @12,000 each to raju& co.
  5. Sold 5 computers @ 12,000 each for cash.
  6. Paid Salaries to staff by cash Rs.1,000
  7. Paid rent Rs. 500
  8. Paid Electricity Charges Rs. 500.
Step No. 1
Double Click on Tally Icon

Step No:2
Creation of Company
From Gateway of Tally Press Alt+F1
From Company  Info Menu Select  Create  Company
Enter all the details of the Company
(Name, Address, Financial Year).
Read More: How to Create New Company in Tally


Step No: 3
Creation of Ledger Accounts

From-> Gateway of Tally-> Accounts Info-> Ledger-> Create

Account Name: Group
Satyam capital: Capital Account
Furniture:  Fixed Assets
Purchases:  Purchases Account
Sales:  Sales Account
Raju& Co: Sundry Debtor
Salaries: Indirect Expenses
Rent: Indirect Expenses
E/C: Indirect Expenses

Step No.4
Creation of productor  inventory
Gateway of tally-> Inventory Info-> Stock Group-> Create
Name: Traded Goods Or Finished goods
Under : Primary
Can quantities of items be added :Yes
Press 4 Times ESC Key
Gateway  of Tally-> Inventory Info-> Units of Measure-> Create
Symbol:Nos
Formal Name: Numbers
Numbers of decimal places :0



Press  Esc 4 times
Gateway of tally-> Inventory Info-> Stock item -> Create

Name: Computer
Under: Select “Finished goods" from the list
Units: Select “Nos” from the list.
Set Standard Rates: Yes
Set Standard Cost:10,000
Standard selling price: 12,000
Quantity  Rate Per Value
Opening Balance:
Press ESC Key 4 times
Read More: How to Create Stock Items in Tally


Step No. 5
Passing Transaction

Gateway of Tally -> Vouchers Entry

Date
Particulars
L.F.
Debit
Credit
1st April 2014

(Press F6) Receipts
Cr. Satyam Capital A/c
Dr. Cash A/c


3,00,000


3,00,000
1st April 2014
(Press F5) Payments
Dr. Furniture A/c
Cr. Cash A/c


20,000


20,000
1st April 2014
(Press F9)Purchases
Cr. Cash A/c
Dr. Purchases a/c


1,00,000


1,00,000
1st April 2014
(Press F8) Sales
Dr. Raju& co. etc
Cr. Sales  A/c


60,000


60,000
1st April 2014
(Press F8)Sales
Dr. Cash A/c
Cr. Sales A/c


60,000


60,000
1st April 2014
(Press F5) Payments
Dr. Salaries A/c
Cr. Cash A/c


1,000


1,000
1st April 2014
(Press F5) Payments
Dr. Rent A/c
Cr. Cash A/c


500


500
1st April 2014
(Press F5)Payments
Dr. E/c A/c
Cr. Cash A/c


500


500



VIEW REPORTS
Gateway of Tally-> Profit & Loss (P)
Gateway of Tally-> Balance sheet (B)
Gross Profit: 20,000 Net Profit : 18,000
Balance Sheet : 3,18,000.
 

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