Page 39 of 170 Step-1 Company Creation:- Step-2:- Ledger Creation:- SLNo Ledgers Groups | 1 | Weds&Co Capital A/C [agen Machinery _ Fixed Assets oo Furniture | _ Fixed Assets 4 Purchase _ Purchase A/C Stich can a Sglesa/c 6 ay . xpenses 3% ny. Salaries iirect Expenses 8 Carriage inwards FE Direct Expenses 2 Carriage outwards _|__ Indirect Expenses | 10 | Commission Received ai es Step-3:- 11 Rent" lirect Expenses Creation:- 1) Stock Group Creation:- A 1. Go to “Gateway of Tally” 2. Select “In entory Info” 3. Select “Stock Greups” = 4, Select “Create” pe Stock Grou 5. Press Enter. er g ‘ Select “Inventory Info’ Seject “Units of Measure” . Select “Create” ~ Formal Name: - Numbers 3) Stock Items:- \ 3. 4, Sua 1. Go to “Gateway of Tally” 2. Select “Inventory Info” 3. Seiect “Stock Items’ (Single Stock Item) 4. Select “Create” Press Enter. oNPage 40 of 170 Example: - Name Under LG TV's TV's ‘Sony TV’ Samsung TV's | | Accounting Voucher: Payment voucher: - Shortcut Key is “F5” Receipt voucher: - Shortcut Key is "F6” Purchase voucher: - Shortcut Key is “F9” Sales voucher: - Shortcut Key is “F8” Ans: - Gross Profit = Rs'83, 040/- ( ~ Net Profit = Rs 74, 540/- Balance Sheet = Rs 10, 74, 540/- eitemes Stock = Rs 63, ie 01) Tel & Co started business with Rs.26, 00, 090/- 02) Cash deposited at bank Ks.15, 00,050/-)) 03) Purchase Furniture for cash Rs.75, 000/- 04) Purchase machinery by cheque Rs.2, 00, 000/- Chno 124536 G5) Purchase 20 Nokia mobiles for cash @Rs.6, 500/- 06) Purchase 30 LG mobiles hy cheque @Rs.6, 000/- Ch no 224536 - 07) Purchase 2 5 Samsung mobiles by cheque @Rs.6, 200/- Ch no. 924536 08) Sales 18 Nokia mobiles to cash @Rs.7, 500/- 09) Sales 25 LG mobiles by cheque @Rs.7, 000/- Ch no 125836 10) Sales 23 Samsung mobiles by cheque @Rs.7, 800/- Ch no 235689 11) Rent paid by cheque Rs.12, 500/- Ch no 453656 12) Salaries paid by cheque Rs.8, 500/- Ch no 235536 13) Carriage inwards by cheque Rs.10, 000/- Ch no 245636Ba Ra Page 41 of 170 14) Commission received by cheque Rs.3, 500/- Ch no 568947 15) Bank charges Rs.1, 200/- Solution:- Step-1:- Company Creation:- Step-2:- Ledger Creation:- SI.No Ledgers Groups 4 [Henao 5 Se Cap ital’a/ 2 Bank rs Bank A/C 3 Furniture : ts 4 Machinery SF __ Fixed Assi Bec Purchase _ |. Purchase A, 6 Sales § 7 Rent It 8 | Salaries: _ 9 coring 40 | Commission Received 11 Bank charges | Step-3:- Stock Cre: : 1) Stock Gr Creation: — Example: “Mobile 2) Units of Measure: fe Example: ~ 3) Stock Items:- Example: - i .. Name Under Units Nokia Mobiles No’s LG Mobiles No’s Samsung Mobiles No’s Step-4:- Accounting Vouchers:- Payment voucher: - Shortcut Key is “FS” Receipt voucher: - Shortcut Key is “F6” Purchase voucher: - Shortcut Key is “F9” Sales voucher: - Shortcut Key is “F8”Page 42 of 170 Contra voucher: - Shortcut Key is Ans:- Gross Profit = Rs 69, 800/- Net Profit = Rs 51, 100/- Balance Sheet = Rs 20, 51, 100/- Closing Stock = Rs 55, 400/- Cash-In-Hand = Rs 4, 28, 800/- Bank Accounts = Rs 12, 91, 900/- 0 btor 1) Krishna started Eee with Rs.50, 00, ooog 2) Cash ate ‘Axis bank Rs.15, 00, 000/- 5) Purchase 35 IBM computer: 6) Purchase 35 Lenovo compt 7) Purchase 23 Dell compute 8) Sales 35 HCL cs 9) Sales 30 IBM 0 cheque @Rs.22, 000/: ch no: 367896. puters for cash @Rs.23, 500/- & ers for cash @Rs.24, 500/- 10) Sales 28 Lenovo cemputers by checue @Rs.23/00N /- Ch no: - 245896. 11) Sales 20 Dell computers to Kumar @Rs.23, 200/- 12) Salaries paid Rs.18, 04 13) Rent paid Rs.5, 000/- 14) Carriage Inw rds Rs.12, 000/- (Inciude outwards 55%) 45) Insurance f 16) Bank Charges paid Rs.250/- 17) Commission Received Rs.3, 500/- Solution:- Step-2:- Ledger Creatio’ SI.No | Ledgers GroupsPage 43 of 170 1 ~ Krishna Capital a/c | 2 | Axisbank Bank A/C Rae Machinery Fixed Assets “a | Purchase Purchase A/C 5 Ravi Sundry Creditors | Brae Sales a SalesA/C | 7 Kumar Sundry Debtor 8 Salaries Indirect Expenses Saas Shay Rent __| Indirect Expenses | bas Carriage inwards “a Expenses | s) 11 io} Carriage outwards @ | Indirect Expenses |» eae Bee Insurance Indirect Expenses ee 43. | Bank Charges Pitedt 14 | Commission Receive = Step-3:- Stock Creation:- 1) Stock Group Creation:- 9 ~ Example: - — 2) Units of Measure:- 3) Stock Items:- Fxampl!e: - Name = HCL © | Computers | No’s “IBM | Computers _| No’s [Lenovo | Computers _| No’s Computers | Ne's Payment voucher: - Shortcut Key is “TS” Receipt voucher: - Shortcut Key is “F6” Purchase voucher: - Shortcut Key is “F9” Sales voucher: - Shortcut Key is “F8” Contra voucher: - Shortcut Key is “F4”Page 44 of 170 pletpest > (04 1s0/— Gross Profit = Rs 1, 40, 600/—134eee/- Net Profit = Rs 1, 10, 750/- Balance Sheet = Rs 58, 63, 250/~ 5856 650/ Closing Stock = Rs 4, 44, 000/- Sundry Debtors = Rs 4, 64, 000/- Ex=rBore Sundry Creditors = Rs 7, 52, 500/- tréeese Cash-In-Hand = Rs 33, 17, 250/- 3310 650] ~ Bank Accounts = Rs 15, 13, 000/- PROBLEM: - 1) Tech com started business with Rs.20, 00, 000/- Y 2) Cash deposited at Bank Rs.10, 00,000/- 3) Purchase Machinery by cheque Rs.2, 0 ,000/- Ch no: - 4 4) Purchase Furniture for cash Rs.’ 75, 00/- SE 5) Purchase 35 Nokia mobiles fe ‘cash @Rs. 6) Purchase 25 Samsung mobiles by cheque @Rs.6, 200/- Chink 96. 3 & 4 7) Purchase 20 LG mobiles for 8) Purchase 39 Sony mobiles fro ama @Rs.6, 800/- % 9) Sales 30 Nokia mobiles to cash @RS.7, 500/- f 10) Sales 23:Samsung mobiles by cheque @Rs.7, 200/- Ch no: - 152676. 11) Sales 25 LG mobiles to cash’@Rs.7, 000/- 12) Sales 25 Sony mobiles to D Rs.7, 800/- 12) Rent paid Rs.2, 500/- 14) Saiaries paid Rs.3, 500/- Iaks.10, 0007 16) Carriage Outwards RS? 500/- 15) Carriage Inws 17) Commission Received Rs.3, 500/- 18) Bank Charges Rs.1, 200/- Solution:- -1:- Com ation:- Step-2:- Ledger Creation:- [ SLNo Ledgers GroupsPage 45 of 170 1 Tech & Com. | Capital A/¢ [2 Bank i Bank A/C [3 | Machinery |. Fixed Assets [Sal Furniture "Fixed Assets [3s u Ee “Purchase A/C 6 | Sundry Creditor ite Sales Sales A/C Bele Devi | SundryDebtor ‘| 9 Rent IndirectExpenses | 10_ Salaries i e i Carriage inwards eet Exper (G22) Carriage outwards i ae 13_| Commission Received ao 14 Bank charge: Step-3:- Stock Creation:- Mobiles | No’s _ Samsung Mobiles | _No’s LG | Mobiles No’s Son, Mobiles No’s Payment voucher: - Shortcut Key is “F5” Receipt voucher: - Shortcut Key is “F6” Purchase voucher: - Shortcut Key is “F9” Sales voucher: - Shortcut Key is “F8” Contra voucher: - Shortcut Key is “F4”Page 46 of 170 Gross Profit = Rs 93, 000/- Net Profit = Rs 86, 800/- Balance Sheet = Rs 22, 90, 800/- Closing Stock = Rs 1, 08, 900/- Sundry Debters = Rs 1, 95, 000/- Sundry Creditors = Rs 2, 04, 000/- Cash-In-Hand = Rs 9, 01, 300/- Bank Accounts = Rs 8, 10, 600/- 01) KLR started busiress with Rs. 02) Cash deposited at ICICI Bank Rs.15, 00,000/- 03) Purchase Machinery by cheque Rsi3, 00, 000/- Chm - : 04) Purchase Furniture by cheque Rs.45, 000/*Ci: no: -423657. J 07) Purchase 30 Max mobiles n RK @Rs.2°, 000/- 08) Purchase 25 Sky Mobiles from RD @Rs.23. 000/- 09) Sales 23 LG Computers to cash @RS. 7, 000/- heque @Rs.28, 000 /- Ch no: - 152676. Rs.30, 500/- 12) Sales 21 Sky mobiles to KS @Rs.24, 000 /- 10) Sales 22 Sony Computers 11) Sales 25 Max mobile: 13) Wages vaid Rs.4, 509/- 14) Salaries paid byleheque Rs.7, 5G0/-Ch no:-254612. 15) Rent paid Rs.3, 500/- 16) Carriage inwards by cheque Rs.10, 000/- Ch no: - 228974 17) Interest Received Rs.3, 500/- 18) Commission Received by cheque Rs.6, 500/- Ch no: - 126356 19) Petty Expenses Rs.2, 200/- Solution:-Page 47 of 170 Step-1:- Company Creation:- Step-2:- Ledger Creation:- SI.No | Ledgers. Groups Scere KLR Capital A/C ao ICICI Bank | Bank A/C fic al Machinery Fixed Assets 4 Furniture Fixed Assets 5 Purchase as ~ Purchase A/C 6 RK ele 7 ae RD: | Sundry 8 ~ Sales “9 —KjS 10 KS. \@® au Wages nn | 12 Salaries ——|_‘Indirect Expenses 13 ‘Rent Indires ses. 14 Carriage inwards ae | 15 Interest Rece:ved = Incomes fides ae IndirectIncomes | 17}, Petty Expenses Indirect Expenses Step-3:- AERO ion: 1) Stock Group Creation:- 2) Units of Measure:- “Example: - . {Nam me: igs 3) Stock Items:- Example: - Name Under Units LG Computers No’s Sony Computers No’s Max Mobiles No’sPage 48 of 170 [isi ST “Monies Step-4:- Accounting Vouchers:- Payment voucher: - Shortcut Key is “F5” Receipt voucher: - Shortcut Key is “F6” Purchase voucher: - Shortcut Key is “F9” Sales voucher: - Shortcut Key is “F8” Contra voucher: - Shortcut Key is “F4” Ans:- Gross Profit = Rs 99, 000/- si Net Profit = Rs 85, 800/- § Balance Sheet = Rs 45, 30, 800/- Closing Stock = Rs 4, 51, 000/- Sundry Debtors = Rs 12, 66, 500/-. ® Sundry Creditors = Rs 14, Cash-In-Hand = Rs 14, 6 rch Debit Note: - {Piirchase Returns} At the time ef returning the goods, the net amount is calculated and a note or letter is prepared by the purchaser {Buyer}. This note is known as “Debit Note”, The purpose ofthis note is to info! supplier about the debit given to his account; on receiving this debit note, th can understand that his account has been debited. Debit.Note vouche horteut Key is “CTRL +. F9 and CTRL+V" We use the Debit Note voucher for purchase returns stock is being the regular course of business. Credit Note: - {Sales Returns} When the goods are returned by the customers, a credit note is being prepared and sent to him. The credit note informs that his account is credited with the amount of the goods returned. Credit Note voucher: - Shortcut Key is “CTRL + £8 and CTRL + v’Page 49 of 170 We use the Credit Note voucher for Sales returns stock is being the regular course of business. Debit and Credit Notes:- > Press F11 select Inventory features. Invoicing:- “+ Use Debit/Credit Notes “YES” “ Use invoice mode for credit notes “YES” “+ Use invoice mode for debit notes “YES” | CTR, + V = Change invoice mode to Voucher mode (oF vate mode to invoice | mode Invoice mode = Party Name without Cr & Dr Displayed | Voucher mode = Without Party Name Cr & Dr Displayed PR E 01) Amma & U started business wi 02) Cash deposited at SBI Bank.#S.15, 00,000/* 03) Purchase Machinery by cheque Rs.1, 25, 000/- Ch n 04) Purchase 40 LG TV’s for cash @Rs.6, 500/- 05} Purchase 35 Sony TV's for Rs.7, 200/- 06) Furchase 3: Saieung ‘TV's fros Asshaya @Rs.5, 300/- 97) Purckas# 22 BPI. TV8-@ by chega =.5)590/- Clin: 08) Sales 35 LG TV's to cash @RS.7, 500/- 09) Sales 30 Sony TV's @ to cash Rs.8, 200/- 10) Sales 28 Samsung TV’s by cheque @Rs.7, 000 /- Ch no: - 561289. 11) Sales 20 BPL TV's to Jcthi @Rs.6, 200/- 12) Salaries paid Rs:18,000/ 13) Rent paid Rs.5, 000/- 2 - 564897. 14) Carriage Inwards Rs.15, 900/-{Includes Outwards 60%} 15) Sales Keturns 3 BPL TV’s from Jothi 16) Purchase Returns 3 Samsung TV’s to Akshaya 17) Insurance paid Rs. 3, 500/- 18) Bank Charges Rs. 250/-Page 50 of 170 19) Commission Received Rs.3, 500/- Solution:- Step-1:- Compan ation:- Step-2:- Press F11 select Inventory features. “+ Use Debit/Credit Notes “YES” “ Use invoice mode for credit notes “YES” “+ Use invoice mode for debit notes “YES” Ledgers 1 Amma &U = 2 SBIBank |, : 3 Machine ‘Fixed Assets j 4 PurchaseA/C | 5 sind RGtcdiios” 6 ‘sales A/C ee Suiidry Debtor | 8 Indirect Expenses is indirect Expenses 10 Direct Expenses i at indirect Expenses 12 Purchase A/C | 13 ri ~ Sales A/C ; 145 Insurance | indirect Expenses 15. Bank Charges “| Indirect Expenses | ‘ Indirect Incomes Example: - TV’s 2) Units of M re;- Example: - SYMBOL: - No’s Formal Name: - Numbers 3) Stock Items:-Page 51 of 170 Example: - |. Name iG Under Units LG TV's No’s [sony | avs | ainete= Samsung _ TV's No’s [Be S/S SVG aleeiNa'siva| Step-5:- Accounting Vouchers:- Payment voucher: - Shortcut Key is “F5” Receipt voucher: - Shortcut Key is “F6” : Purchase voucher: = Shortcut Key is 2: : Sales voiicher: - Shortcut Key is “F8” Contra voucher: - Shortcut Key is “F4” Debit Note voucher: - Shortcut K Credit Note vouch i - Shortcut Key TRL +F9 & CTRL +V" is “CTRL + F8 & CTRL +V" Ans:- y Gross Profit = Rs 90, 500/- Net Profit = Rs 58, 250/- Balance Sheet = Rs 52, 59, 850/- ‘ Closing Stock = Rs 1, 26, 708 /- Sundry Debtors = Rs 1, 65, 490 /- Sundry Creditors = Rs 2, 04, 600 /- Cash-In-Hand = Rs 34, 58, 250/- Bank Accounts = Rs 14, 44, 500/- «Bank Reconciliation Statement Importance of Bank Reconciliation Statement (BRS): - 1. Similarity of balances between cash book and passbook can be confirmed by 2ccountant with the kelp of Importance of Bank Reconciliation Statement, (BRS) 5 = 2. Italso helps any snistakes that have taken place in both the cash and passbooks 3. Italso prevenis the frauds, by recording the transactions 4. Italso reveals the reasons behind disagreement between both balances 5. This statement is prepared only by business persons (Q) What are required in Bank Reconciliation Statement (BRS)? Ans: -Page 52 of 170 . Cheque issued but not presented for payment by parties 1 2, Cheques deposited but stot realized till (Date) 3. Cheque issued but not presented for payment 4. . Interest credited by bank 5. Interest bank charges debited by bank PROBLEM: - 01) Kittu started business with Rs.20, 00, 000/- 02) Cash deposited at Axis bank Rs.15, 00, 000/- 03) Purchase Machinery by cheque Rs. 2, 00, 000/- Ch no:= 457896. 04) Purchase Furniture for cash Rs.75, 000/- ts 05) Purchase 20 IBM computers for cash @Rs. 6,500/- 06) Purchase 30 LG computers by cheque @Rs. 07) Purchase 25 Dell computers by cheqite @Rs.6, 10) Sales 25 Dell computers by cheque @Rs.7, 800/- Chno: - 896526. 11) Rent paid by cheque Rs.12, 500/- Ch no: - 961224. , 12) Salaries paid Bycheaue Rs.8, 500/- Ch no: - 852612, . 13) Carriage inWards by cheque Rs.19, 000/- Ch no: ~521232. 14) Commission Received by cheque Rs.3, 500/- Ch no: - 625812. AXIS Bank Statément from 01-07-2000 to 31-07-2000:- Ch. No's Pariicuiars | Debit (Rs) Credit (Rs} Pepsi St 145,00, 000 0-7-2006 | 457896" Machinery 2,00, 006 | 02-7-2000 | 787896 Purchases 1, 80, 000 [02-7-2000 | 367896 Purchases 1, 55, 000 02-7-2000 | 245896 Sales 1,75, 000 | 31-7-2000 | 896526 Sales 1, 95, 000 [31-7-2000 | 961234 Rent 12, 500 31-7-2000 | 852612 Salaries 8,500Page 53 of 170 [31-7-2000 | 625812 Commission — 3, 500 (a i 3 Total -13, 17, 500 Solution:- Step-1:- Company Creation:- Step-2:- Ledger Creation:- SI.No Ledgers Groups el Kittu Capital A/C 2 ‘Axis bank > Bank A/C 3 Machinery 4 - Furniture / 5 Purchase 6 Sales € er Rent 8 Salaries. 9 Cafriage inwards 10 | Commission Received Step-3:- Stock Creation: 2) Units of Measure:- ‘Exdmple: - > SYMBOL: - No’s Formal Name: - Numbers 3) Stock Items:- w Example: - , Name Under Units | Computers No’s yuters No’s Payment voucher: - Shortcut Key is “FS” Receipt voucher: - Shortcut Key is “Fé” Purchase voucher: - Shortcut Key is “FO” Sales voucher: - Shortcut Key is “F8” Cuntra voucher: - Shortcut Key is “F4”Page 54 of 170 Ans:- Gross Profit = Rs 73, 000/- Net Profit = Rs 55, 500/- Balance Sheet = Rs 20, 55, 500/- Closing Stock = Rs 43, 000/- Cash-In-Hand = Rs 4, 30, 000/- Bank Accounts = Rs 13, 07, 500/- Reports:- . Open “Balance Sheet.” . Select “Bank Accounts.” . Press “Enter 3 times.” . Then Press “F12” to display cheque numbers in BRS: Enable - Show narrations also: -“YES” and SAVE. _ . Press “F5.” a : . Enter “The dates in Date . Then “SAVE.” t . Press “F5” then display PWN ~rnan Amounts are eflected in bank: |aaiace as per ">Rs. NOTE: - we Once transactions are “saved” then press “F5” to check balances of transactions which are ng For transactions which re c Open “BRS” & Press “F12” Enable - Show reconciled vouchers also: - “YES” and SAVE. (Then the dates will be display, so we can change the dates also)03) Purchase Fur@gpre for Rs.1 04} Purchase 50UG’ for cash @RS.6, 596/- 95) Purchase 25 Sony TV'S for cash @Rs.6, 060/" for cash @Rs.6, 200/- 07) Sales 45 LG TV's for cdsh @! 06) Purchase 25 Samsung TV’: 500/- 08) Sales 23 Sony TV’s for cash @Rs.7, 000/- 09) Saies 22 .7, 000/- 10) Wages paid 11) Salaries paid Rs.5, 200/- 12) Carriage Inwards Rs.1, 360/- 13) Carriage Outwards Rs.1, 500/- 14) Received Commission Rs.3, 200/- 15) Rent paid Rs.5, 000/- Solution:-