Tally Inventory Tutorial: Problem - 2 (Volume-I)
Transitions: (Dt: 01.04.2014)
- Mr. Rahul started business with cash Rs. 3,00,000
- Purchased 20 Cricket Bats @ 5,000 each for cash
- Purchased 20 cricket Bats @ 5,000 Each from David
- Sold 36 Bats @ 6000 each for cash +Excise duty 12.36% + VAT 5%
- Paid Salaried 1000 & Rent 1000
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 Tall
Step No: 2
Creation of Ledger Accounts
From-> Gateway of Tally -> Accounts Info -> Ledger-> Create
Account Name: Group
Rahul Capital: Capital Account
Purchase: Purchase Account
Sales: Sales Account
David: Sundry Creditors
Excise duty @ 12.36%: Duties & Taxes
VAT @ 5%: Duties & Taxes
Salaries: Indirect Expenses
Rent: Indirect Expenses
Read More: How to Create Ledger
Step No.3
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
Read More: How to Create Stock Groups in Tally
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
Read More: How to Create Stock Items in Tally
Step No. 4
Passing Transaction
Gateway of Tally -> Vouchers Entry
Date
|
Particulars
|
Debit
|
Credit
|
1st April 2014
|
(Press F6) Receipts
Cr. Rahul Capital A/c
Dr. Cash A/c
|
3,00,000 |
3,00,000
|
1st April 2014
|
(Press F9) Purchase
Dr.Purchase A/c
Cr. Cash A/c
Cr.David A/c
|
20,000
|
10,000
10,000
|
1st April 2014
|
*(Press F8) Sales
Dr. Cash A/c
Cr. Sales A/c
Cr. Excise Duty @12.36%
Cr. VAT @ 5%
|
2,54,832
|
2,16,000
26,698
12,135
|
1st April 2014
|
(Press F5) Payment
Dr.Salaries A/c
Dr.Rent A/c
Cr.Cash A/c
|
1000
1000 |
2000
|
*
Basic Value: Rs.216,000
Add: E.D-12.36%: Rs.26,698
Sub Total: Rs.242,698
Add: VAT-5%: 12,135
Total Value: Rs.2,54,832/-
VIEW REPORTS
Profit & Loss
Gateway of Tally -> Profit & Loss (P)
Balance sheet
Gateway of Tally -> Balance sheet (B)
The payment entry is wrongly shown here.
ReplyDeleteIt sud b:
Salary A/c Dr. 1000
Rent A/c Dr. 1000
Cash A/c Cr. 2000
Dear Mr/Ms.Sutrina,
DeleteThank u for ur comment.
Sorry for inconvenience. We have corrected our mistake.
Thanks & Regards
G.S.VASU
Admin
www.accounts4tutorials.com
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