Professional Documents
Culture Documents
Recording Transactions of
Sample Data of "Swayam
Agencies Pvt. Ltd."
Page : 1 SWAYA
M
Page : 2 SWAYAM
Note : Mr. Swayam Satpathy wants to have separate Vouchers for Bank Payment and
Receipts. He also wants separate Serial Numbers to be displayed for Bank Receipt
(i.e. BK-REC I 001108-09 )and Bank Payment (i.e.BK-PMT I 0011 08-09
).Hence, Two new Voucher Types - Bank Payment under Payment and Bank
Receipt under Receipt - have to be created.
Page: 4 SWAYAM
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Step 2:
Make an Entry of the Transaction in a Bank Receipt Voucher.
1. Go to Gateway of Tally.ERP 7 Accounting Vouchers 7 F6 : Receipt
7 Select Bank Recei
Voucher Type list to view Bank Receipt Voucher entry screen.
. ! .... .. x
-= ·l:U.NO BK-REC/1108-09 1·Apr-2008
Tuesday
Account ICICI Bank
Cur&/ · 15.00,000.00 Dt
P:irttcul:irs Amount
sw.-iyam Satpathy C:ipital Aic 15,00.000.00
Cur &I : 15,00.000.00 Ct
Narration: 15.00.000.00
Ch.No. :187962 being cheque deposited in ICICIBani\.
Acc@pt '?
Yes •r No
C clll tor ODBC Server -
2) 3-4-2009
M r. Swayam withdrew Rs.50,000 cheque for Shop Expenditure from ICICI
Bank . ( Cheque No- 123451)
Step 1:
Make an Entry of the Transaction in a Contra Voucher.
Go to Gateway of Tally.ERP 7 Accounting Vouchers 7 F4 : Contra to view the
Contra Voucher Sere Enter the Transaction as shown below :
-.· . !•·. 1 r .-·1, • "" " lioolf l•U l'l..'I l'·''""
,.•.!··..... x
"" No.1 3-Apr-2008
Thursday
Account · Cash
Cur Bal . 50,000.00 D r
Parti cul ars Amou
nt
ICICIB:ink 50,000.00
Cw &/ . 14,50,000.00 Dr
Narration:
50.000.0
0
Ch. No. 12345 1 being cash withdrawn ror Shop Expenditure.
Servef
.:.11cul:ito1 ODBC
Unfil ed Notes Page 8
Accept ?
Page : 5 Yes o No
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SWAYAM
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3) 5-4-2009
M r. Swayam purchased Furniture and Fixture worth Rs. 1,50,000 for the Shop
by cheque. {Ch. No- 123452)
Note: See the voucher creation Screen of Receipt Voucher in transaction SI. No-1
Step 2:
Make an Entry of the Transaction in a Bank Payment Voucher.
Go to Gateway of Tally.ERP 7 Accounting Vouchers 7 FS :Bank Payment
to view the Bank P Voucher Screen and Enter the Transaction as shown below:
4) 8-4-2009
M r. Swayam rented a prem i ses on 1-4-2009 for his bus iness at Rs. 3,500
per month . He paid a Security Deposi t of Rs.25,000 by cheque. (Ch. No-
123453)
Step 1:
Make an Entry of the Transaction in a Bank Payment Voucher.
Go to Gateway of Tally.ERP 7 Accounting Vouchers 7 FS :Bank Payment
to view the Bank P
Voucher Screen and Enter the Transaction as shown below :
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Unfil ed Notes Page
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-·-=
"l•lit 1.... • "'08--09
No BK PMT/2
. 1·
8-Apr-
2008
Tuesday
Account . 1c1c1 Bank
Particulars
Cur Bal : 11.,75.000.00 Dr Amo
Secunt
urity Deposit 25.00
Cur Bal : 25.000.00 Dr 0.00
25,00
0.00
Narration:
Ch . No 123453 being amount paid ror security Acc• pt
Deposit towards a ?
Premises on Rent.
C lculator ODBC Stnver
I Y@s- ,.
No
5) 10-4-2009
Mr. Swayam issued a cheque to purchase the follow i ng Assets. (Ch . No-
123454)
6) 12-4-2009
Mr. Swayam has appo1nted the foIIowing peo )l e.
Name Des ignation Monthly
Rahul Bhatt Sales Salary 4,000
Jairam Salesman
Executive 3,500
Shi shir Mathur Accountant
Sengupta 2 ,500
Ajith V Nair Clerk 1.500
Ajith is also in charge of Petty Cash and submitting the statement of
Expenses at the end of every monty.
I Note : No Entry is required because this is not an Acc ounting Transaction.
7) 20-4-
2009 ase t e lolowing tems f rom A2Z Trad ers on cred'1t.
Mr.Swayam
urch
Item Quantity Rate Value Input VAT Total
H i gh Capacity 100 600 60,000 12.5% 67,500
Stabilizers
STEP-1:
Change the Method of Vo ucher Numbering as Manual In Purchase
Voucher :
1. Gateway of Tally.ERP -7 Accounts Info -7 Vouchers Type -7 Alter
2. Select "Purchase" from the list of Vouchers Types.
3. In third section, change the Method of Vouc her Numbering to
'Manual' .
4. Prevent Duplicate -YES.
5. Retain the other fields as they are - Press CTRL+A ( Save the existing
options}
STEP-2:
Make an entry of the transaction In a Purchase Voucher :
Go to Gateway of Tally.ERP Accounting Vouchers F9
:Purchase to view the Purchase Voucher
and Enter the Transaction as shown below :
1. Click the As Invoice button (The entry has to be recorded as a Purchase
Invoice with Item wise)
2. Click theI
tem Invoice button
3. Type P-A2Z-01 in Purchase Bill No.
4. Press F2 to change the Voucher Date to 20-4-2009.
Enter the Purchase Transaction as shown below :
No . P -A2Z--0 1 20-Apr-2008
Ref. : Sunday
Party's Ale Name: A2Z Trnders
Current Balance :
Purchase Ledger : Pm clH>se@ 12.5 .
VAT/T sx Clssa: Purch'1ses@ 12.5%
Name. of Item Quantity Rate p er
Am ount
N a rration: 67,501).(}0
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8) 21-4-
2009 ase t e lo owing tems f rom A2Z Traders on cred.1t.
Mr.Swayam
urch
Item Quanti Rote Value Input VAT Total
Hiqh Capacity Stabi lizers ty
100 400 40,000 12.5% 45,000
Open Well Pumps 50 150 75,000 4% 78,000
Submersible Pumps 100 200
0 2 4% 2 ,08 ,000
Gross Total
0 ,00,000 3,31,000
STEP-1:
Make an entry of the transaction in a Purchase Vouc her :
Go to Gateway of Tally.ERP Ac counting Vouchers F9
:Purchase to view the Purchase Voucher and Enter the Transaction as
shown below :
1. Click the As Invoice button (The entry has to be recorded as a Purchase
Invoice with Item wise)
2. Click the Item Invoice button
3. Type P-A2Z-02 in Purchase Bill No.
4. Press F2 to change the Voucher Date to 20-4-2009.
5. Press F12 : Configure & Change the option " Use Common Ledger
Ale for Item Allocation" to
remove the Purchase Ledger next to Party's Ale Name option in Purchase
Voucher}
Configure Invoices I Oelivery Hotes t Orders
Accept Supplementary Details ? Yes
(Address Details, 0eS(Jalch
Delails etc)
40,000.oo l
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No 1 12-Apr-:2008
Tuesday
Account · c:ish
Cur Bal : 4!>.500.00 Dr
Particulars Amount
Narratjon: 500.00_
being the amount paid towards Carriage Inward Expenses on Purchase
made on 20-4-2006 and 21-4-2006 . Accept '?
Yes , No
Page : 10 SWAYAM
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10) 27-4-2009
M r. Swa am t ransfer red Rs. 10,000 to Pett Cash from Cash to meet the da
to da ex enses.
Step 1:
Make an Entry of the Transaction in a Contra (F4) Voucher .
Go to Gateway of Tally.ERP 7 A ccounting Vouchers 7 F4 : Contra to view the
Contra Voucher Ser; Enter the Transaction as shown below :
!::\ T ally 9
(cl Tally Sohnlons FZ·LLC. 1988 2006 TallyGo ld Mu fti
Use1
11) 28-4-2009
M r. Swayam wi thdrew Rs.5,000 in cash for personal use.
Step 1:
Make an Entry of the Transaction in a Payment Voucher.
Go to Gateway of Tally.ERP 7 Accounting Vouchers 7 F5 : Payment to view
the
n Payment Voucher a Enter the Transaction as shown below :
-· ...
•
d
I ....
No.2
I• -' •fl • ... ,L' JU&.J. •..... x
28-Apr-2008
"'
Monday
Account . Cuh
Cur Bal · 44,501>.00 Dr
Partieu1:1rs
Amoun
t
Swam Satpath y On.wing IVc
5,000.0
0
Untiled Notes Page 13
Cur Bal : 5,000.00 Dr
Narration:
5,000.0
0 www.Tally9Book. Com
Being amount withdrawn by Mr.Swayam Satpathy ror persona l use.
Acc ept ?
Yes r No
Page : 11 SWAYAM
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12) 30-4-
2009
VAT adjustment
entry.
At the end of evel}' month, VAT Adjustment entl}' has to recorded. To record the
Adjustment , Input and Out Tax accounts are Credited and Debited, respectfully
to nullify their Balances and the net balance is trans VAT Adjustment account.
A Debit Balance of VAT Adjustment account indicates that the excess Input
being carried forward to the next month and a Credit Balance
indicates that VAT is Payable.
As per Accounting
conventions
The Journa l Entry for the above
transaction is as follows .
VAT Adjustment Ale Dr.
Rs.23,500 Rs.12,500
To lnputVAT@12 .5% Rs.11,000
Cr.
To lnputVAT@4%
Cr.
As per Tally.ERP conventions
Create Ledger VAT Adjustment Ale (under Duties and Taxes) as details below
:
Go to Gateway of Tally.ERP 7 Accounts Info 7 Ledger 7 Create to view
the ledger creation screen.
1. Name : VAT Adjustment A/c
2. Under :Duties & Taxes
3. Type of Duty I Tax : Select VAT from Types of Duty I Tax lust
4. VAT I Tax Class : Not Applicable
5. Inventory Values are affected ? : No.
6. Accept ? Yes or No ? 7 Press Y or Enter
Note : Since the VAT/Tax Class is not applicable the percentage of calculation
automatically appears as 0.
(To know the Tax amount that is to be adjusted, go to Gateway of
Tally.ERP> Display> Statutory Re VAT Reports> VAT Computation)
x
Sw ly.lm
Pa 1 Iic u I a r s Agencies
Assessil
1-A r-2008 1o 30-ATax
r-2000
hle Am
Val ount
ue
Purchases
B. lnpul Tax
Excess Input Credit
Untiled Bl()Ughl
Notes Page 15F0tward
II II2 75
II IIII
11
Input VAT@ 4% 000.00 ODO.DO
Tot alInput Ciedit 3,75.00 23.50
0.00 0.00
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Step-1 :
Make an Entry of the Transaction in a Journal Voucher .
Go to Gateway of Tally.ERP 7 Accounting Vouchers 7 F7 : Journal to view
the Journal Voucher Sci'
Enter the Transaction as shown below :
x
30-Apr-2008
weooes day
P3rtlcul;irs Debit C redit
Y es Jr No
13) 30-4-2009
Make an entry for the Salary Due of all staff for the month of April
2009. The deta ils are as follows:
Page : 13 SWAYAM
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Untiled Notes Page 17
information
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MAY 2009
14) 1-5-
2009
Mr. Swayam paid Salaries through cheque for April 2009 . ( Ch. No-
123455). The details are as
Nom e
follows : Nu mber of Days
Salary Paid
Rahul Bhatt Rs. 2,400 18
Ja i ram Sengupta Rs, 2,100 18
Shishir Mathur Rs. 1,500 18
Ajith V Nair Rs. 900 18
Note: Cost Center has to be created in each employee's name.Ensure that Maintain Cost
Centers is set to YES in F11 :
Features> Accounting Features.
Cost/Pr ofit Centre$ M anageme nt
Maintain Payroll ? No
Maint ain Cost Centres
Use Cost Centre for Job Costing ? No
More than ONE Pay roll / Cost Category ? Ho
Use Pre-defined Cost Cen1reAllocatons during Ent ry ? No
Cost Center
Cost Centers are the Cost objects for which Expenses are incurred under
various account heads and t control can be effectively established by keeping
track of the Cost at one place.
Similar to Cost Center, you can have Revenue Centers to keep track of
Revenues.
Example of Cost Centers
• Departments of an organization . For example, Finance, Marketing,
Manufacturing,
• Product of a Company.For example: Tally.ERP 9 , Income Tax, Service
Tax
• Individuals. For example :Salesman A , Salesman B , Salesman C.
Step-1
Create Cost Centers :
Go to Gateway of Tally.ERP 7A ccounts Info 7 Cost Centers 7 Multiple
Cost Centers 7 Create to v
multi Cost Centers creation screen.
1. Under Cost Centre : All Items
2. Enter the details as shown in the following table...
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x
Under Cost Centre D All Items
1. RahulBhatt a Primary
2. Jairam Sengupta o Primary
3. Shlshlr Mathur o Primary
4. Ajit V Niiir o Primary
Accept ?
Y es m No
Led er Alteration
Name : Salary Ex penses
(OlilM}
Step-2
Make en entry of the Transaction in a Bank Payment voucher (FS) :
1. Go to Gateway of Tally.ERP Accounting Vouchers F5: Payment
>select Bank Payme
voucher type list
2. Press F2 to change the Voucher Date to 1-5-2009.
3. Select "ICICI Bank" in the Header Account> then Select "Salary
Expenses" in Particulars head and value of Rs.6,900 in Amount column
and press Enter key to view the Cost Center Allocation sere enter the
details as shown in the followin table.
Name of Cost Center Amount
Rahul Bhatt 2,400
Jairam Sengupta 2, 100
Shishir Mathur 1,500
Ajith V Nair 900
4. Press Enter to accept the Cost Center allocation entries. The Bank
Payment Voucher sc reen will be as below ...
,A.ccount: ICICIBani<
Cur Bal. 11,92,600.00 Dr
P<irtic ulars Amount
Narration: 6,900.00
Ch. No.:123455 being Salaiy paid for ApHI2006 .
Accept?
Yes CJr No
15) 2-5-2009
Mr. Swayam paid Rs.2500 in Cash for stationery , printing invo i ces and vouchers
to Cannon Traders.
Note :Set the field Cost Center are applicable ? to No at the time of creating Ledger Printing &
Stationer Expenses .
Make an entry of the Transaction in a Payment Voucher ( F5 ) :
16) 3-5-2009
Mr. Swayam received the statement of expend iture from the Petty Cashier
for April 2009. the statement is as follows :
Nom e of Expenses Amount (Rs.)
Printing & Stati onery 2 ,500
Cell phone bill 600
Shop maintenance Expenses 450
Conveyance expenses for Marketing Execut ives
Pag e : 16 SWAYAM
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Note :Set the field Cost Center are applicable ? to No at the time of Ledger creation for all
the Ledgers mentioned above..
Step 1:
Make an Entry of the Transaction in a Payment Voucher.
Go to Gateway of Tally.ERP 7 Accounting Vouchers 7 F5 : Payment to
view the Cash Payment Screen and Enter the Transaction as shown below ·
Header Account : Petty Cash
Line Accounts( Particulars) : Printing & Stationery Expenses -7 Rs.2500
Telephone Expenses -7 Rs.600
Shop Maintenance Expenses
-7 Rs.450 Conveyance
Expenses -7
Rs.250
Accept?
Y es o• No
17) 6-5-2009
Mr. paid Rs. 3,500 by cheque towards Shop Rent for April
2009. {Ch. No-123456) Note: Set the field Cost Center are applicable ?
Payment
Page : 17 SWAYAM
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18) 10-5-2009
Mr. Swayam so Id the foIIowing i tems f or Cash . The deta1·1s are as f0IIows :
Item Quantity Rote Value Output Total
High Capacity 50 850 42 VAT
12.5% 47,813
Open Well Pumps
Stabilizers 15 1700 25,50 4'Yo
,500 26,520
Gross 0 74.333
Total
Step-1:
Make an entry of the transaction in a Sales Voucher ( FS) :
Go to Gateway of Tally.ERP Accounting Vouchers FS :
Sales displays the Sales Voucher screen.
Note:
1. Ensure that As Invoice and Item Invoice buttons are activated. This is
because the sales entry has to be recorded as an item invoice.
2. Ensure that in F 12 ( Configuration) in Sales Voucher ,
18-A) 15-5-2009
Mr. Swayam issued a cheque to A2Z Traders for Rs.3,96,500 after
deducting the Discount of Rs. 2,000. He receive a Discount as he agreed to
pay the entire Bill Amount . (Ch No-123457)
19) 28-5-208
Mr. Swayam withdrew Rs. 4,000 in cash for personal use.
20) 30-5-2009
Mr. Swayam received the statement of Expenditure from the petty
Cashier for May 2009 . the statement is as follows :
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JUNE 2009
22)
3-6-2009
Mr. Swayam paid Rs. 3500 in cash towards Shop Rent for May 2009
23)
4-6-2009
Mr. Swayam issued a cheque of Rs. 11,000 on the Petty Cashier . (Cheque No-
123458)
24)
6-6-2009
Mr. Swayam paid Salary for May 2009 by cheque. (Ch . No-123459)
25)
8-6-2009
Mr. Swayam purchased the following Goods from Dust Merchants on
Credit for 30 days . Interest
IS to be caIcula ted at 10'%o per annum
Itern Quantit Rate Value Input VAT Total
High Capacity Stabilizers y200 650 1,30,00 12.5% 1.46.250
Open Well Pumps 300 1600 4,80
0 4Jo 4,99,200
,000
Gross Total 6,45,450
26)
10-6-2009
Mr. Swayam paid Carriage Inward of Rs. 400 in cash .
27)
12-6-2009
Mr. Swayam Sold the following Items to Me Trading Company on credit
for 45 days . Interest charted is at 15% per annum, if payment is not made
within the credit period.
28)
15-6-2009
Mr. Swayam withdraw Rs. 5,000 in cash for personal use.
29)
20-6-2009
Mr. Swayam Deposited cash Rs. 40,000 to ICICI Bank.
30)
27-6-2009
Mr. Swayam paid Rs. 2000 in cash to Mr. Jairam Sengupta as Salary
advance.
Untiled Notes Page 20
Note: Salary Advance is to be adjusted in Four equalinstallment.
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31)
28-6-2009
Mr. Swayam received the statement of Expenditure from the Petty Cahier
on end 30-6-2009. the statement is as follows. Amount (Rs .)
Nome of Expenses
Insurance premium for the period 1-7-2009 to 30-6-2009 2,400
Conveyance Expenses of Marketing Executives 600
Shop Maintenance Expenses 550
Electricity Expenses 500
32)
29-6-2009
Mr. Swayam SoId the f oIIow1nq terns to You Tech Services on ered"1t.
Item Quanti Rot Volue Output Totol
Law Capacity ty
100 e550 55,00 VAT
12.5% 61,875
Stabilizers Gross Totol 0 61.875
33)
30-6-2009
VAT adjustment entry.
JULY 2009
34)
3-7-2009
Mr. Swayam paid the Salaries through Cheque for June 2009.
Note : Adjust the Salary Advance of Rs.500 ( 1'1 Installment) given to Mr.
Jairam Sengupta.
35)
6-7-2009
Mr. Swayam paid Rent in cash for June 2009.
36)
14-7-2009
Mr. Swayam Purchased the following Items under a Sales Office. He paid by
cheque. The offer is as follow...
• On Purchase of 10 High Capacity Stabilizer , 1 HCS is given Free of
Cost.
• 0n Purc hase of 5 Iaw Copacity Stab1l1zer , 1LCS .1s given Free of Cost
Item Pure hose Free Totol Rote Volue Input VAT Totol Amt.
Qty . Qty.
High Capacity Stabilizers 50 5 55 650 32500 12.5% 36 ,536
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Note : Due to late payment ( 11 days),Mr. Swayam has to pay Interest (applicable at the
rate of 10% per annum) in addition to the Bill amount.
38}
20-7-2009
Mr. Swayam i ntroduced a Sale Offer and sold the following items on Cred it to
Me Trad ing Company and You Tech Services.
Item Sold Free Tota Rote Value Output Total
Qty l VAT Amt
. Qt
ME TRADING CONiANY
H i gh Capacity 20 2 y. 750 15,000 12.5%
22 16,875
Stabilizers
Law Capacity 5 1 6 450 2250 12.5 o 2,531
Stabili zers
Gross 19,406
YOU TECH
Total
High Capacity 30 3 SERVICES
33 750 22500 12.5 25,312
Stabilizers
Law Capacity 15 3 18 450 6750 12.5 7,594
Stabili zers 32,906
Gross
Total
39}
22-7-2009
Mr. Swayam received a cheque from Me Trading Company and You Tech
Services in settlement of bills dated 20-7-2009 .
40)
28-7-2009
Mr. Swayam rece i ved cheque from You Tech Services towards the bill dated 29-6-2009
Page : 21 SWAYAM
41)
29-7-2009
Mr. Swayam rece i ved the statement of Expenditure from the Petty Cashier for
the month end , July 2009. the Statement is as follows :
Name of Expenses Amount {Rs.)
Advertisement Expenses incurred 1500
Conveyance Expenses of market ing executives 600
Donat i on to Charitable Trust. 600
Shop Maintenance Expenses 550
E lectricity Expenses 500
42
)
31-7-
2009
VAT Adjustment
Entry.
Bank
Reconciliation
This i s a route procedure of systematica lly adjust ing the account balance
reported by a Bank with the account balance on the company's books and
explain i ng any differences . Differences can occur if deposits are not yet
cleared or cheques are not yet presented .
Bank Statement for the per i od 1-4-2009 to 4-8-2009 send to Swayam Agenc
i es from ICICI Bank is as follows...
Date PARTICULARS DEPOSIT Withdraw BALAN
Ch. No-187962 depsited (Mr. S als CE
2-4- 15,00,000 15.00,000
2009 Swayam
3-4- Satpathy
Ch. Capital)(Cash
No- 123451 50,000 14,45,000
2009
8-4- withdrawn)
Ch. No- 123452 (Furniture and 1,50,000 13,00,000
2009
10-4- Fixture)
Ch. No- 123453 (As Security 25,000 12,75,000
2009
13-4- Deposit)
Ch. No- 123454 (For Asset 75,500 11,99,500
2009
2-5- Purchased)
Ch. No- 123455 (Salaly Paid) 6.900 11.92.600
2009
6-5- Ch. No- 123456 (Rent Paid) 3,500 11,89,100
2009
19-5- Ch. No- 123457 (Issued to A2Z 3,96,500 7,92,600
2006 Traders)
Ch. No- 123458 (Cash withdrawn 11,000 7,81,600
4-S-
2009 for Petty Cash)
7-S- Ch. No- 123459 (Salary Paid) 11,500 7,70, 100
2009
20-6- Cash (cash deposited) 40,000 8, 10,100
2009
4-7- Ch. No- 123460 (Salary paid) 11.000 7,99. 100
2009
17-7- Ch. No- 123461 (Purchase made) 45,563 7,53,537
2009
1-8- Ch. No- 123462 (Issued to Dust 6,47,395 1,06, 142
2009
3-8- Merchants)
Cheque deposited ( Me Trading 52,312 1,58,454
2009
4-8- Company)
Cheque deposited (You Tech 61,875 2,20,329
To reconciServices)
2009 l e all transactions relating to
Bank Accounts.
Untiled Notes Page 25
SWAYAM
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information
AUGUST 2009
43}
5-8-2009
Mr. Swayam paid Salaries by cheque for July 2009.
Note : Adjust the Salary Advance of Rs. 500 (2 nd Installment) given lo Mr. Jairam Sengupta .
44)
8-8-2009
Mr. Swayam paid Rent in cash for July 2009.
45)
10-8-2009
M r. Swayam paid Rs. 7,500 in cash to the petty cashier .
46)
12-8-2009
Mr. Swayam sold the following items to Help Trad i ng Corporat ion and
allowed a trade discount at the rate of 5'Yo
Item Quant Rate Disc Value Output Total
H i gh Capacity ity
90 900 5%
. 76 ,950 12.5%
VAT 86,569
Stabi lizers
47)
27-8-2009
Mr. Swayam received cheque from Seacreast Trading Corporat i on
towards the bill dated 12-8- 2009.
48}
28-8-2009
Mr. Swayam received a cheque from Me Trading Company towards the
bill dated 12-6-2008 and also the interest for 32 days.
49)
29-8-2009
Mr. Swayam received the statement of expenditure from Petty Cashier
for the month end 31-8- 2009. The statement is as follows :
Name of Expenses Amount
Cell Phone Bill paid (Rs
800.)
Conveyance Expenses of market ing 600
executives
Shop Maintenance Expenses 400
Electricity Expenses 350
50}
31-8-2009
VAT Adjustment Entry.
Page : 23
Untiled Notes Page 27
SWAYAM
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SEPTEMBER 2009
51)
4-9-
2009
Mr. Swayam paid Salaries and Rent by cheque for August 2009.
Note : Adjust the Salary Advance of Rs.500 ( 3 rd installment) given lo Mr.Jairam Sengupta.
52)
6-9-2009
ase t owing tems f rom A2Z Traders on re 1t.
Mr.Swayam
e lol
urch
Item Quanti Rat Value Input Total
Law Capacity 110
ty e50 55,00 12.5'Yo
VAT 61,875
Submersible Pumps 50 210 0
1,05,0 4'Yo 1,09,200
Stabilizers 0
Gross 00 1,71,075
0
Total
53)
10-9-2009
Mr. Swayam Sold the following Items to You Tech Services and drew a Bill
of exchange for 30 days
W h.ICh was dulIy acceptedb1yth em.
Item Quanti Rate Value Output Total
Law Capacity 100
ty 550 55,000 VAT
12.5% 61,875
Submersible Pumps
Stabilizers 50 2500 125000 4% 130000
Gross 1,91,875
Total
54)
15-9-2009
Mr. Swayam withdrew Rs.6,000 from ICICI Bank for personal use.
55)
17-9-2009
Mr. Swayam S0Id the f oIIowing items on cred'1t of 45 Corporat1on .
Itemto Me Trad'mg Quanti Rate Value Output
days Total
High Capacity 80
ty 700 56,00 VAT12.5% 63,000
Submersible
Stabilizers Pumps 60 2300 13800
0 4'Yo 143520
Gross 0 2,06,520
Total
56)
22-9-2009
Mr. Swayam returned 10 Low Capacity Stabilizers to A2Z Traders
purchased on 6-9-2009 as they were not according to the specifications .
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57)
28-9-2009
Mr. Swayam received the statement of expenditure from Petty Cashier for
the month-end , 30-9- 2009 . The Statement is as follows:
58)
29-9-2009
Mr. Swayam received Bank Statement from ICICI Bank and found that
Rs.550 had been charged as half yearly Bank Charges.
59)
30-9-2009
VAT adjustment OCTOBER'2009
entry.
60
)
1-10-2009
Me Trading Company returned the following items , out of sales made on
17-9-2009 , as they were in excess of its requirements .
Item Quantit Rote Value Output Total
Hiqh Capacity y
15 700 10500 VAT 12.5% 11,813
Stabilizers
Submersible Pumps 10 230 2300 4% 23,920
Gross0 0 35,733
61} Total
3-10-2009
Mr. Swayam issued a cheque of Rs. 7,500 to Petty Cashier .
62}
4-10-2009
Mr. Swayam paid Salaries and Rent of Shop by cheque for September 2009.
Note : Adjust the Salary Advance of Rs. 500 ( 41h Installment ) given lo Mr.Jairam Sengupta .
63}
10-10-2009
Mr. Swayam deposited the Bills Rece ivable drawn on You Tech Services which
was duly honored .
64}
20-10-2009
Mr. Swayam soId the f oIIowing Trad.ing Corporat 1on on ere 1t.
Item to HeI J
items I Rote I Value I Output VAT Total
Open Well Pumps
Quantity I 200 1900 I 3,8o ,ooo l 4 o 3,95,20
0
Untiled Notes Page 31
Gross 3,95,200
Total : 25
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65)
21-10-2009
Mr. Swayam issued a cheque to A2Z Traders towards the purchase made on
6-9-2009
66}
28-10-2009
Mr. Swayam received a cheque from Me Trading Company against Sales made
on 17-9-2009.
67}
29-10-2009
Mr. Swayam received the statement of expenditure from the Petty
Cashier for the month end ,
October 2009. The Statement is as follows :
Name of Expenses Amount (Rs .)
Conveyance Expenses of Marketing Executives 600
Shop Maintenance Expenses 450
E lectricity Expenses 400
Cell Phone Bill 1500
68
}
31-10-2009 NOVEMBER' 2009
VAT adjustment
entry.
69
}
4-11-2009
Mr. Swayam paid Salaries and Rent by cheque for October 2009.
70}
5-11-2009
Mr. Swayam issued a cheque of Rs. 8,000 to the Petty Cashier.
71)
10-11-2009
Mr. Swayam received a from Help Trad ing Corporation in settlement of his
cheque bill dated 20-
10-2009.
72
}
12-11-
2009
Mr. Swayam started Trad'mg in a New Product and pure hased 'Iff rom D'1rty
Enterpr1ses on eredi t.
Item I Quantity I Rate I Value I Input VAT Total
Untiled Notes Page 33
Electric Heater I 30 I 400 1 12,000 1 12.5 0 13,50
013,5
Gross
74) 00
Total
14-11-2009
Mr. Swayam paid Rs.4 ,500www.Tally9Book.
by cheque for theCom
cell phone he purchased for his
Sales Executive .
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75)
15-11-2009
Mr. Swayam S0Id the f oIIowing items to HelIp Trad'mg Corporat1on on ere
1t.
Item Quantity Rote V alue Output Total
VAT
Open Well Pumps 50 180 90,000 4% 93,600
Gross0Total 96,600
Note : Mr. Swayam asks lhe accountant to create a voucher class ·Sales@ 4%" and record
the Sales in a Sales Voucher.
Using voucher class eliminates lhe process of manually entering accounting details.
Applicable VAT is also displayed
automatically.
76}
29-11-2009
Mr. Swayam received the statement of expenditure from the Petty
Cashier for November 2009. The Statement is as follows :
Nome of Expenses A mount (Rs.)
Conveyance Expenses of Marketing 600
Execut ives
Shop Maintenance Expenses 500
Electricity Expenses 300
Cell Phone Bill 1100
77
)
30-11-2009
DECEMBER'2009
VAT adjustment
entry.
78
)
4-12-2009
Mr. Swayam paid Salaries and Rent by cheque for November 2009.
79)
8-12-2009
Mr. Swayam settled the bill dated 12-11-2009 of Dirty Enterprises by
cheque.
80}
10-12-2009
Mr. Swayam withdrew Rs.10,000 from the Bank for personal use.
81}
17-12-2009
Mr. Swayam received a cheque from Help Trading Corporation in
settlement of bill dated 15-11-
2009.
Untiled Notes Page 35
82}
18-12-2009
Mr. Swayam Sold the following items for cash in an exhibition organized by
V-Guard company. www.Tally9Book. Com
75)
15-11-2009 Page : 27 SWAYAM
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83}
19-12-2009
Mr. Swayam paid Rs. 2500 in cash for the space provided in the
exhibition .
84}
29-12-2009
Mr. Swayam received the statement of expenditure from the Petty
Cashier for December 2009.
The Statement is as follows :
86}
31-12-2009
Provision entry to transfer ba lance from VAT Adjustment account to
VAT Payable account.
JANUARY' 2010
87}
1-1-2010
Mr. Swayam paid Salaries and Rent by cheque for December 2009.
88}
2-1-2010
Mr. Swayam deposited Rs. 1,20,000 cash i n ICICI Bank
89}
5-1-2010
Mr. Swayam paid VAT due for December 2009 by cheque.
90}
8-1-2010
Mr. Swayam pure hased the f oIIowing items on ere 1t rom NeXT
Serv1ces . or·1ssa.
Item Quant Rote V Input Total
ity
50 1800 90,00 VAT
4% 93,600
Submersible Pumps alue
C
91}
12-1-2010
Untiled Notes Page 37
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Mr. Swayam decides to have a price list for his customers. The price
levels were decided on the basis of old and new customers and also the
volume of items purchased by them .
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94)
20-1-2010
Mr. Swayam withdrew Capital of Rs.5,00,000 from
the firm by cheque. 95)
25-1-2010
Mr. Swayam received a cheque from Simple Touch Traders for Sales made on
14-1-2010.
96)
30-1-2010
Mr. Swayam received the statement of expenditure from the Petty Cashier
for January 2010. The Statement is as follows
Name of Expenses
:
Amount (Rs.)
Cell Phone Bill paid 800
Conveyance Expenses of marketing executives 500
Shop Maintenance Expenses 450
Electricity Expenses 350
97}
31-1-2010
VAT Adjustment Entry.
98}
31-1-2010
Provision entry to transfer balance from VAT adjustment account to VAT
Payable account .
Untiled Notes Page 30
Page : 29 SWAYAM
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FEBRUARY'2010
99}
3-2-2010
Mr. Swayam paid VAT due for the month of January 2010 by cheque.
100}
4-2-2010
Mr. Swayam paid Salaries and Rent by cheque for January 2010.
101}
8-2-2010
Mr. Swayam purchased the following items from Dust Merchants . Dust
Merchants drew a bill of
exchanqe wh ich was acceptedb1yMr. swa am.
Item Quantit Rote Value Input VAT Total
Hiqh Capacity 50
y 500 25,00 12.5':.'o 28 ,125
Stabilizers
Open We ll Pumps 30 1500 0
45.00 4% 46,800
Gross Total 0 74,925
102}
12-2-2010
Mr. Swayam soId the f oIIowing items to Me Tra d.ing Company on ere 1t.
Item Quantit Rot Dis Value Output Total
High Capacity y30 e
85 c.
5':.'o 24,225 VA1
12.5% 27,253
Stabilizers
Submersible Pumps 40 0
160 5':.o' 60,800 4% 63,232
0 Total
Gross 90.485
103}
14-2-2010
Mr. Swayam pure hasedtheflolow1nq items f rom C eon Inf ormation Systems,
H1y1derabad on cred it.
Item Quantity Rote Value Input Total
CSl
22 ,500 4% 23,400
Law Capacity Stabilizers 50 450
104)
15-2-2009
M r. Swayam withdrew Rs.5,000 from bank for personal use.
Pag e : 30 SWAYAM
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105)
18-2-2010
Mr. Swayam purchased the following items from Dirty Enterprises on credit.
Item I Quantity I Rote I Value I Input Total
VAT
Submersible Pumps I30 I 2200 I 66,ooo I 4 o 68,640
Gross Total 68,640
106}
25-2-2010
Mr. Swayam sold the following items to Mumbai Ugly Trading
Corporation (Govt.Dept.) on credit.
Item I Quantity I Rote I Input Total
Volue
Submersible Pumps I 40 I 2500 1 4%
VAT 1,04,00
1.00.000 Gros: 01,04,00
Note : CST is exempted if the sale is made to government0depar tmen t.
107)
27-2-2010
Mr. Swayam received the statement of expenditure from the petty
cashier for the month end ,
February 2010. The statement is as follows :
Nome of Expenses Amount (Rs.)
Cell Phone Bill paid 1300
Conveyance Expenses of market ing 700
Shop Maintenance Expenses
executives 400
Electricity Expenses 450
108)
28-2-2010
VAT Adjustment MARCH' 2010
Entry.
109}
Mr. Swayam paid Salaries and Rent by cheque for February 2010.
110)
10-3-2010
Mr. Swayam honored the bills payab l e which was drawn by Dust
Merchants by issuing a cheque .
lll}
15-3-2010
Mr. Swayam sold the following items on credit to Faithful Traders ,
Kerala.
Item Quon Rot Output Total
High Capacity Stabilizers 30
tit e850 4%
CST 25,50
Open well Pumps 50 155 4% 77,50
0
0 0
Untiled Notes Page 33
Page : 31 SWAYAM
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105)
information
18-2-2010
Mr. Swayam purchased the following items from Dirty Enterprises on credit.
112)
18-3-2010
Mr. Swayam S0Id the f oIIowing items to HelIp Tra d'mg Corporat1on on ere 1t.
Item Quantit Rat Value Input Total
High Capacity y5 95
e 4750 VAT12.5'Yo 5343
Law Capacity
Stabilizers 15 75
0 11250 12.5'Yo 12657
Stabilizers Gross0 18,000
113) Total
Mr. Swayam withdrew Rs.5,000 from bank for personal use.
114)
30-3-2010
Mr. Swayam received the statement from the petty cashier for March
2010 . The Statement is as follows :
115)
31-3-2010
VAT adjustment entry.
116)
31-3-2010
Provision entry to transfer ba lance from VAT adjustment account to VAT
Payable account.
Provision Entries
All Provision entries are depicted using a Journal voucher.
Note : Provision Entries , Depreciation Entries and Adjustment Entries are
all recorded on 31-3- 2010.
1)
Shop Rent for March 2010.
2)
Salaries for March 2010.
Page : 32 SWAYAM
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112)
18-3-2010
Mr. Swayam S0Id the f oIIowing items to HelIp Tra d'mg Corporat1on on ere 1t.
3)
Electricity Bill charges for March 2010 is Rs. 350
Depreciation Entries :
Sl. Asset name Value to be Date of Rate of Depreciation
N Depreciate
Purchas Depreciatio For 2009-201O
1. Cell Phone-1 d
5,500 e10-4- 15%
n 825
2. Cell Phone-2 4,500 2009
14-11- 7.5% 338
3. Computer 25,000 2009
10-4- 60% 15,000
4. Electrical Fittings 5,000 2009
10-4- 10% 500
5. Furniture & Fixture 1,50,000 2009
5-4- 10% 15,000
6. Motor Vehicle 40,000 2009
10-4- 15% 6,000
2009 37,663
Adjustment Entries for Prepaid Expenses :
All AdIJ' Ustment entries are dep.icted using a Journa vouc her.
Nature Payment Period Amo Prepaid Prep Amount
u Period a for
Date Of Insurance
Insuran 28-6- 1-4-2009 to 2,40 1-4-2009 600 Current
Amo 1,800
ce 2009 0 to u Year
30-6-2010
Other Adjustment Entries 30-6-2010
1)
Transfer balance of withdrawals account to Mr. Swayom Satpathy Calcutta
account.
Closing Entries :
1)
Transfer of Profit and Loss account to Mr. Swayam Satpathy capital account.
******************************
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Untiled Notes Page 37
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PRACTICAL EXERCISES" 2
Assignment on Chapter :4 to 8
Recording Transactions of
Sample Data of "Swayam
Agencies Pvt. Ltd."
E-mail Income
Address Tax
Use Indian Number
VAT Currency
Applicable Symbol
From VATTin Maintain
Local Sales Tax Financi
Number
al Year
Page : 1 SWAYA
M
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Page : 3 SWAYAM
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Note : Mr. Swayam Satpathy wants to have separate Vouchers for Bank Payment and
Receipts. He also wants separate Serial Numbers to be displayed for Bank Receipt
(i.e. BK-REC I 001108-09 )and Bank Payment (i.e.BK-PMT I 0011 08-09
).Hence, Two new Voucher Types - Bank Payment under Payment and Bank
Receipt under Receipt - have to be created.
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Step 2:
Make an Entry of the Transaction in a Bank Receipt Voucher.
1. Go to Gateway of Tally.ERP 7 Accounting Vouchers 7 F6 : Receipt
7 Select Bank Recei
Voucher Type list to view Bank Receipt Voucher entry screen.
. ! .... .. x
-= ·l:U.NO BK-REC/1108-09 1·Apr-2008
Tuesday
Account ICICI Bank
Cur&/ · 15.00,000.00 Dt
P:irttcul:irs Amount
sw.-iyam Satpathy C:ipital Aic 15,00.000.00
Cur &I : 15,00.000.00 Ct
Narration: 15.00.000.00
Ch.No. :187962 being cheque deposited in ICICIBani\.
Acc@pt '?
Yes •r No
C clll tor ODBC Server -
2) 3-4-2009
M r. Swayam withdrew Rs.50,000 cheque for Shop Expenditure from ICICI
Bank . ( Cheque No- 123451)
Step 1:
Make an Entry of the Transaction in a Contra Voucher.
Go to Gateway of Tally.ERP 7 Accounting Vouchers 7 F4 : Contra to view the
Contra Voucher Sere Enter the Transaction as shown below :
-.· . !•·. 1 r .-·1, • "" " lioolf l•U l'l..'I l'·''""
,.•.!··..... x
"" No.1 3-Apr-2008
Thursday
Account · Cash
Cur Bal . 50,000.00 D r
Parti cul ars Amou
nt
ICICIB:ink 50,000.00
Cw &/ . 14,50,000.00 Dr
Narration:
50.000.0
0
Ch. No. 12345 1 being cash withdrawn ror Shop Expenditure.
Servef
.:.11cul:ito1 ODBC
Untiled Notes Page40
Accept ?
Page : 5 Yes o No
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3) 5-4-2009
M r. Swayam purchased Furniture and Fixture worth Rs. 1,50,000 for the Shop
by cheque. {Ch. No- 123452)
Note: See the voucher creation Screen of Receipt Voucher in transaction SI. No-1
Step 2:
Make an Entry of the Transaction in a Bank Payment Voucher.
Go to Gateway of Tally.ERP 7 Accounting Vouchers 7 FS :Bank Payment
to view the Bank P Voucher Screen and Enter the Transaction as shown below:
4) 8-4-2009
M r. Swayam rented a prem i ses on 1-4-2009 for his bus iness at Rs. 3,500
per month . He paid a Security Deposi t of Rs.25,000 by cheque. (Ch. No-
123453)
Step 1:
Make an Entry of the Transaction in a Bank Payment Voucher.
Go to Gateway of Tally.ERP 7 Accounting Vouchers 7 FS :Bank Payment
to view the Bank P
Voucher Screen and Enter the Transaction as shown below :
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-·-=
"l•lit 1.... • "'08--09
No BK PMT/2
. 1·
8-Apr-
2008
Tuesday
Account . 1c1c1 Bank
Particulars
Cur Bal : 11.,75.000.00 Dr Amo
Secunt
urity Deposit 25.00
Cur Bal : 25.000.00 Dr 0.00
25,00
0.00
Narration:
Ch . No 123453 being amount paid ror security Acc• pt
Deposit towards a ?
Premises on Rent.
C lculator ODBC Stnver
I Y@s- ,.
No
5) 10-4-2009
Mr. Swayam issued a cheque to purchase the follow i ng Assets. (Ch . No-
123454)
6) 12-4-2009
Mr. Swayam has appo1nted the foIIowinq peo )l e.
Name Des ignation Monthly
Rahul Bhatt Sales Salary 4,000
Jairam Salesman
Executive 3,500
Shi shir Mathur Accountant
Sengupta 2 ,500
Ajith V Nair Clerk 1.500
Ajith is also in charge of Petty Cash and submitting the statement of
Expenses at the end of every monty.
I Note : No Entry is required because this is not an Acc ounting Transaction.
7) 20-4-
2009 ase t e lolow1nq tems f rom A2Z Traders on Cre 1t.
Mr. Swayam
urch
Item Quantity Rate Value Input Total
H i gh Capacity 100 600 VAT
60,00 12.5% 67,500
Stabilizers 0
STEP-1:
Change the Method of Vo ucher Numbering as Manual In Purchase
Voucher :
1. Gateway of Tally.ERP -7 Accounts Info -7 Vouchers Type -7 Alter
2. Select "Purchase" from the list of Vouchers Types.
3. In third section, change the Method of Vouc her Numbering to
'Manual' .
4. Prevent Duplicate -YES.
5. Retain the other fields as they are - Press CTRL+A ( Save the existing
options}
STEP-2:
Make an entry of the transaction In a Purchase Voucher :
Go to Gateway of Tally.ERP Accounting Vouchers F9 :Purchase to view
the Purchase Voucher
and Enter the Transaction as shown below :
1. Click the As Invoice button (The entry has to be recorded as a
Purchase Invoice with Item wise)
2. Click the Item Invoice button
3. Type P-A2Z-01 in Purchase Bill No.
4. Press F2 to change the Voucher Date to 20-4-2009.
Enter the Purchase Transaction as shown below :
No . P -A2Z.-0 1 20-Apr-2008
Ref. : Sunday
Party's Ale Name: A2Z Trnders
Current Balance :
Purchase Ledger : Pm clH>se@ 12.5 .
VAT/T sx Clssa: Purch'1ses@ 12.5%
Name. of Item Quantity Rate p er
Am ount
N a rration: 67,501).(}0
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Page: 8 SWAYAM
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8) 21-4-
2009 ase t e lo owing tems f rom A2Z Traders on cred.1t.
Mr.Swayam
urch
Item Quant Rot Value Input Total
Hiqh Capacity Stabi 100
ity 400
e 40,000 VAT
12.5% 45,000
Open
lizers Well Pumps 50 150 75,000 4% 78,000
Submersible Pumps 100 200
0 2 4% 2 ,08 ,000
Gross Total
0 ,00,000 3,31,000
STEP-1:
Make an entry of the transaction in a Purchase Vouc her :
Go to Gateway of Tally.ERP Ac counting Vouchers F9
:Purchase to view the Purchase Voucher and Enter the Transaction as
shown below :
1. Click the As Invoice button (The entry has to be recorded as a Purchase
Invoice with Item wise)
2. Click the Item Invoice button
3. Type P-A2Z-02 in Purchase Bill No.
4. Press F2 to change the Voucher Date to 20-4-2009.
5. Press F12 : Configure & Change the option " Use Common Ledger Ale for
Item Allocation" to
remove the Purchase Ledger next to Party's Ale Name option in Purchase
Voucher}
Configur e Invoices I Delivery H otes 1 Ord ers
Accept Supplementary Details ? Yes
(Address Details, 0eS(Jalch
Delails etc)
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No 1 12-Apr-:2008
Tuesday
Account · c:ish
Cur Bal : 4!>.500.00 Dr
Particulars Amount
Narratjon: 500.00
being the amount paid towards Carriage Inward Expenses on Purchase
made on 20-4-2006 and 21-4-2006 . Accept '?
Yes "I No
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10) 27-4-2009
M r. Swa am t ransfer red Rs. 10,000 to Pett Cash from Cash to meet the da
to da ex enses.
Step 1:
Make an Entry of the Transaction in a Contra (F4) Voucher .
Go to Gateway of Tally.ERP 7 Accounting Vouchers 7 F4 : Contra to view the
Contra Voucher Ser; Enter the Transaction as shown below :
!::\ T ally 9
(cl Tally Sohnlons TallyGold Mu fti
FZ·LLC.1988 Use1
2006
11) 28-4-2009
M r. Swayam wi thdrew Rs.5,000 in cash for personal use.
Step 1:
Make an Entry of the Transaction in a Payment Voucher.
Go to Gateway of Tally.ERP 7 Accounting Vouchers 7 F5 : Payment to view
the Payment Voucher and Enter the Transaction as shown below :
Narration:
Being amount withdrawn by Mr.Swayam Satpathy ror
Untiled Notes Page47
5,000.00
Amount Accept ?
5,000.00
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Yes ur No
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12) 30-4-
2009
VAT adjustment
entry.
At the end of evel}' month, VAT Adjustment entl}' has to recorded. To record the
Adjustment , Input and Out Tax accounts are Credited and Debited, respectfully
to nullify their Balances and the net balance is trans VAT Adjustment account.
A Debit Balance of VAT Adjustment account indicates that the excess Input
being carried forward to the next month and a Credit Balance
indicates that VAT is Payable.
As per Accounting
conventions
The Journal Entry for the above
transaction is as follows .
VAT Adjustment Ale Dr.
Rs.23,500 Rs.12,500
To lnputVAT@ 12.5% Rs.11,000
Cr.
To lnputVAT@4%
Cr.
As per Tally.ERP conventions
Create Ledger VAT Adjustment Ale (under Duties and Taxes) as details below
:
Go to Gateway of Tally.ERP -7 Accounts Info -7 Ledger -7 Create to view the
ledger creation screen.
1. Name : VAT Adjustment A/c
2. Under :Duties & Taxes
3. Type of Duty I Tax : Select VAT from Types of Duty I Tax lust
4. VAT I Tax Class : Not Applicable
5. Inventory Values are affected ? : No.
6. Accept ? Yes or No ? -7 Press Y or Enter
Note : Since the VAT/Tax Class is not applicable the percentage of calculation
automatically appears as 0.
(To know the Tax amount that is to be adjusted, go to Gateway of Tally.ERP
> Display > Statutory Re VAT Reports> VAT Computation)
x
Sw ly.lm
P a 1 Iic u I a r s AgenciesTax
Assessil
1-A r-2008 1o 30-A
Am r-
hle 2000 ount
Val
ue
Purchases
B. lnpul Tax
Excess Input Credit Bl()Ughl F0tward
Untiled Notes Page49
II II2 75
II IIII
11
Input VAT@ 4% ODO.OD ODO.DO
3,75.00 23.50
Tot alInput Ciedit 0.00 0.00
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Page : 12 SWAYAM
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Step-1 :
Make an Entry of the Transaction in a Journal Voucher.
Go to Gateway of Tally.ERP 7 Accounting Vouchers 7 F7 : Journal to view
the Journal Voucher Sci'
Enter the Transaction as shown below :
x
30-Apr-
2008
weooesd
ay
P3rtlcul;irs Deb C
0it0.0 redit
Cur Bal · 23,500.00 Dr 0 12,500.
To Input VAT @12.5%
Cur Bal: 0.00 Cr 00
To Input VAT @4% 11,000.
Cur Bal : 0.00 Cr 00
Narration: 23,
VAT Adjustment entry for April 2006 . Accept ?
Yes r No
13) 30-4-2009
Make an entry for the Salary Due of all staff for the month of April
2009. The deta ils are as follows :
Page : 13 SWAYAM
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Untiled Notes Page51
information
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MAY 2009
14) 1-5-
2009
Mr. Swayam paid Salar i es through cheque for Ap ril 2009 . ( Ch . No-
123455). The details are as follows :
Nome Salary Paid Number of Days
Rahul Bhatt Rs. 2,400 18
Ja i ram Sengupta Rs, 2,100 18
Shishir Mathur Rs. 1,500 18
Ajith V Nair Rs. 900 18
Note : Cost Center has to be created in each employee's name.Ensure that Maintain Cost
Centers is set to YES in F11 :
Features> Accounting Features.
Cost Center
Cost Centers are the Cost objects for which Expenses are incurred under
various account heads and t controlcan be effectively established by keeping
track of the Cost at one place.
Similar to Cost Center, you can have Revenue Centers to keep track of
Revenues.
Example of Cost Centers
• Departments of an organization . For example, Finance, Marketing,
Manufacturing,
• Product of a Company.For example : Tally.ERP 9 , Income Tax, Service
Tax
• Individuals. For example :Salesman A , Salesman B , Salesman C.
Step-1
Create Cost Centers :
Go to Gateway of Tally.ERP 7A ccounts Info 7 Cost Centers 7 Multiple Cost
Centers 7 Create to v
multi Cost Centers creation screen.
1. Under Cost Centre : All Items
2. Enter the details as shown in the following table...
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i11forma tion
x
Under Cost Centre D All Items
1. RahulBhatt a Primary
2. Jairam Sengupta o Primary
3. Shlshlr Mathur o Primary
4. Ajit V Niiir o Primary
Accept ?
Y es m No
- -
Led er Alteration
Name : Salary Ex penses
(Off/JS}
Step-2
Make en entry of the Transaction in a Bank Payment voucher (FS) :
1. Go to Gateway of Tally.ERP Accounting Vouchers F5: Payment
>select Bank Payme
voucher type list
2. Press F2 to change the Voucher Date to 1-5-2009.
3. Select "ICICI Bank" in the Header Account> then Select "Salary
Expenses" in Particulars head and value of Rs.6,900 in Amount column
and press Enter key to view the Cost Center Allocation sere enter the
details as shown in the followin table.
Name of Cost Center Amount
Rahul Bhatt 2,400
Jairam Sengupta 2,100
Shishir Mathur 1,500
Ajith V Nair 900
4. Press Enter to accept the Cost Center allocation entries. The Bank
Payment Voucher sc reen will be as below ...
.A.ccount: ICIC.IBani<
Cur Bal . 11,92,600.00 Dr
P<irticulars Amount
Narration: 6,900.00
Ch.No .:123455 being Salaiy paid for ApHI2006 .
Acc ept?
Yes CJr No
15) 2-5-2009
Mr. Swayam paid Rs.2500 in Cash for stationery , printing invoices and
vouchers to Cannon Traders.
Note :Set the field Cost Center are applicable ? to No at the time of creating Ledger Printing &
Stationer Expenses .
Make an entry of the Transaction in a Payment Voucher ( F5 ) :
16) 3-5-2009
Mr. Swayam received the statement of expend iture from the Petty Cashier
for April 2009. the statement is as follows :
Nom e of Expenses Amount
Printing & Stati onery 2 ,500
(Rs.)
Cell phone bill 600
Shop maintenance Expenses 450
Conveyance expenses for Marketing Execut ives
Pag e : 16 SWAYAM
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Note :Set the field Cost Center are applicable ? to No at the time of Ledger creation for all
the Ledgers mentioned above..
Step 1:
Make an Entry of the Transaction in a Payment Voucher.
Go to Gateway of Tally.ERP 7 Accounting Vouchers 7 FS : Payment to
view the Cash Payment Screen and Enter the Transaction as shown below
·
Header Account : Petty Cash
Line Accounts( Particulars) : Printing & Stationery Expenses -7 Rs.2500
Telephone Expenses -7 Rs.600
Shop Maintenance Expenses -
7 Rs.450 Conveyance Expenses
-7
Rs.250
A ccept ?
Yes o• No
17) 6-5-2009
Mr. paid Rs. 3,500 by cheque towards Shop Rent for Apr i l
2009. {Ch. No-123456) Note :Set the field Cost Center are applicable ?
Page : 17 SWAYAM
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18) 10-5-2009
Mr. Swayam so Id the foIIowinq i tems f or Cash . The deta1·1s are as f0IIows :
Item Quantity Rote Value Output Total
Hiqh Capacity 50 850 42 VAT
12.5% 47,813
Open Well Pumps
Stabilizers 15 1700 25,50 4'Yo
,500 26,520
Gross Total 0 74.333
Step-1:
Make an entry of the transaction in a Sales Voucher ( FS):
Go to Gateway of Tally.ERP Accounting Vouchers FS :
Sales displays the Sales Voucher screen.
Note:
1. Ensure that As Invoice and Item Invoice buttons are activated. This is
because the sales entry has to be recorded as an item invoice.
2. Ensure that in F 12 ( Configuration) in Sales Voucher ,
18-A) 15-5-2009
Mr. Swayam issued a cheque to A2Z Traders for Rs.3,96,500 after
deducting the Discount of Rs. 2,000. He receive a Discount as he agreed to
pay the entire Bill Amount . (Ch No-123457)
19) 28-5-208
Mr. Swayam withdrew Rs. 4,000 in cash for personal use.
20) 30-5-2009
Mr. Swayam received the statement of Expenditure from the petty
Cashier for May 2009 . the statement i s as follows :
Pag e : 18 www.Tallv9Book.com
Untiled Notes Page 53
SWAYAM
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JUNE 2009
22)
3-6-2009
Mr. Swayam paid Rs. 3500 in cash towards Shop Rent for May 2009
23)
4-6-2009
Mr. Swayam issued a cheque of Rs. 11,000 on the Petty Cashier . (Cheque No-
123458)
24)
6-6-2009
Mr. Swayam paid Salary for May 2009 by cheque . (Ch . No-123459)
25)
8-6-2009
Mr. Swayam purchased the following Goods from Dust Merchants on
Credit for 30 days . Interest
IS to be caIcula ted at 107o' per annum
Itern Quantity Rate Value Input VAT Total
Hiqh Capacity Stabilizers 200 650 1,30,00 12.5% 1.46.250
Open Well Pumps 300 1600 4,80,00
0 4Jo 4,99,200
Gross Total 0 6,45,450
26)
10-6-2009
Mr. Swayam paid Carriage Inward of Rs. 400 in cash .
27)
12-6-2009
Mr. Swayam Sold the follow ing Items to Me Trading Company on credit
for 45 days . Interest charted is at 15% per annum, if payment is not made
within the credit period.
28)
15-6-2009
Mr. Swayam withdraw Rs. 5,000 in cash for personal use.
29)
20-6-2009
Mr. Swayam Deposited cash Rs. 40,000 to ICICI Bank.
30)
27-6-2009
Mr. Swayam paid Rs. 2000 in cash to Mr. Jairam Sengupta as Salary
advance.
Untiled Notes Page 55
Note : Salary Advance is to be adjusted in Four equalinstallment.
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Page : 19 SWAYAM
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31)
28-6-2009
Mr. Swayam received the statement of Expenditure from the Petty Cahier
on end 30-6-2009. the statement is as follows. Amount {Rs.)
Nome of Expenses
Insurance premium for the period 1-7-2009 to 30-6-2009 2,400
Conveyance Expenses of Marketinq Executives 600
Shop Maintenance Expenses 550
Electricity Expenses 500
32)
29-6-2009
Mr. Swayam S0Id the f oIIowing tems to YOU Tech Services on ered"1t.
Item Quantit Rote Volue Output Totol
Law Capacity y
100 550 55,00 VAT
12.5% 61,875
Stabilizers Gross Totol 0 61,875
33)
30-6-2009
VAT adjustment entry.
JULY 2009
34)
3-7-2009
Mr. Swayam paid the Salaries through Cheque for June 2009.
Note : Adjust the Salary Advance of Rs.500 ( 1'1 Installment) given to Mr.
Jairam Sengupta.
35)
6-7-2009
Mr. Swayam paid Rent in cash for June 2009.
36)
14-7-2009
Mr. Swayam Purchased the following Items under a Sales Office. He paid by
cheque. The offer is as follow...
• On Purchase of 10 High Capacity Stabilizer , 1 HCS is given Free of
Cost.
• 0n Purc hase of 5 Iaw Copacity Stab1l1zer , 1LCS .1s given Free of Cost
Item Pure hose Free Totol Rote Volue Input VAT Totol Amt.
Qty. Qty .
High Capacity Stabilizers 50 5 55 650 32500 12.5% 36 ,536
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Note : Due to late payment ( 11 days),Mr. Swayam has to pay Interest (applicable at the
rate of 10% per annum) in addition to the Bill amount.
38}
20-7-2009
Mr. Swayam i ntroduced a Sale Offer and sold the follow i ng items on Cred it to
Me Trad ing Company and You Tech Services.
Item Sold Free Tota Rot Value Output Total
Qty l e VAT Amt
. Qt
ME TRADING COMPANY
H i gh Capacity 20 2 y. 750 15,000 12.5%
22 16,875
Stabilizers
Law Capacity 5 1 6 450 2250 12.5 o 2,531
Stabili zers
Gross 19,406
YOU TECH
Total
High Capacity 30 3 SERVICES
33 750 22500 12.5 25,312
Stabilizers
Law Capacity 15 3 18 450 6750 12.5 7,594
Stabili zers 32,906
Gross
Total
39}
22-7-2009
Mr. Swayam received a cheque from Me Trading Company and You Tech
Services in settlement of bills dated 20-7-2009 .
40)
28-7-2009
Mr. Swayam rece i ved cheque from You Tech Services towards the bi ll dated 29-6-2009
Page : 21 SWAYAM
41)
29-7-2009
Mr. Swayam rece i ved the statement of Expenditure from the Petty Cashier for
the month end , July 2009. the Statement is as follows :
Name of Expenses A mount
Advertisement Expenses incurred 1500
{Rs.)
Conveyance Expenses of market ing 600
Donat i on to Charitable Trust.
executives 600
Shop Maintenance Expenses 550
Electricity Expenses 500
42
)
31-7-
2009
VAT Adjustment
Entry.
Bank
Reconciliation
This i s a route procedure of systematica lly adjust ing the account balance reported by
a Bank with the account balance on the company's books and explain i ng any
differences . Differences can occur if deposits are not yet cleared or
cheques are not yet presented .
Bank Statement for the per i od 1-4-2009 to 4-8-2009 send to Swayam Agenc
i es from ICICI Bank is as follows...
Date PARTICULARS DEPOSIT Withdraw BALAN
S als CE
2-4-2009 Ch. No-187962 depsited (Mr. 15,00,000 15.00,000
Swayam
3-4-2009 Ch.
Satpathy Capital)(Cash
No- 123451 50,000 14,45,000
withdrawn)
8-4-2009 Ch. No- 123452 (Furniture and 1,50,000 13,00,000
10-4- Fixture)
Ch. No- 123453 (As Security 25,000 12,75,000
2009
13-4- Deposit)
Ch. No- 123454 (For Asset 75,500 11,99,500
2009 Purchased)
2-5-2009 Ch. No- 123455 (Salaly Paid) 6.900 11.92.600
6-5-2009 Ch. No- 123456 (Rent Paid) 3,500 11,89,100
19-5- Ch. No- 123457 (Issued to A2Z 3,96,500 7,92,600
2006 Traders)
4-S-2009 Ch. No- 123458 (Cash withdrawn 11,000 7,81,600
for Petty Cash)
7-S-2009 Ch. No- 123459 (Salary Paid) 11,500 7,70, 100
20-6- Cash (cash deposited) 40,000 8, 10,100
2009
4-7-2009 Ch. No- 123460 (Salary paid) 11.000 7,99. 100
17-7- Ch. No- 123461 (Purchase made) 45,563 7,53,537
2009
1-8-2009 Ch. No- 123462 (Issued to Dust 6,47,395 1,06, 142
3-8-2009 Merchants)
Cheque deposited ( Me Trading 52,312 1,58,454
4-8-2009 Company}
Cheque deposited (You Tech 61,875 2,20,329
To reconciServices}
l e all transactions relating to
Bank Accounts.
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information
AUGUST 2009
43}
5-8-2009
Mr. Swayam paid Salaries by cheque for July 2009.
Note: Adjust the Salary Advance of Rs. 500 (2nd Installment) given to Mr. Jairam Sengupta .
44)
8-8-2009
M r. Swayam paid Rent in cash for July 2009.
45)
10-8-2009
M r. Swayam paid Rs. 7,500 in cash to the petty cashier .
46)
12-8-2009
Mr. Swayam sold the following items to Help Trading Corporat ion and
allowed a trade discount
Item
at the rate
Quantity
of 5'Yo
Rate Disc. Value Output VAT Total
High Capacity Stabilizers 90 900 5% 76 ,950 12.5% 86,569
47)
27-8-2009
Mr. Swayam received cheque from Seacreast Trading Corporation
towards the bill dated 12-8-
2009.
48}
28-8-2009
Mr. Swayam received a cheque from Me Trading Company towards the
bill dated 12-6-2008 and also the interest for 32 days.
49)
29-8-2009
Mr. Swayam received the statement of expenditure from Petty Cashier
for the month end 31-8- 2009. The statement
Name of Expenses
is as follows :
Amount (Rs .)
Cell Phone Bill paid 800
Conveyance Expenses of marketing executives 600
Shop Maintenance Expenses 400
Electricity Expenses 350
50}
31-8-2009
VAT Adjustment Entry.
Untiled Notes Page 63
SWAYAM
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SEPTEMBER 2009
51)
4-9-
2009
Mr. Swayam paid Salaries and Rent by cheque for August 2009.
Note : Adjust the Salary Advance of Rs.500 ( 3 rd installment) given lo Mr.Jairam Sengupta.
52)
6-9-2009
Mr. Swayam Purchased the f oIIow1nq terns f rom A2Z Traders on re 1t.
Item Quanti Rat Value Input Total
Law Capacity 110
ty e50 0 55,00 12.5'Yo
VAT 61,875
Submersible
Stabilizers Pumps 50 210
0 1,05,0 4'Yo 1,09,200
Gross 00 1,71,075
0
Total
53)
10-9-2009
Mr. Swayam Sold the following Items to You Tech Services and drew a Bill
of exchange for 30 days
which was duily acceptedb1yth em.
Item Quanti Rate Value Output Total
Law Capacity 100
ty 550 55,000 12.5i'o
VAT 61,875
Submersible
Stabilizers Pumps 50 2500 125000 4i'o 130000
Gross 1,91,87
Total 5
54)
15-9-2009
Mr. Swayam withdrew Rs.6,000 from ICICI Bank for personal use.
55)
17-9-2009
Mr. Swayam S0Id the f oIIowing items on cred'1t of 45 days to Me Trad'mg
Corporat1on .
Item Quanti Rate Value Output Total
High Capacity 80
ty 700 56,00 VAT12.5i'o 63,000
Submersible
Stabilizers Pumps 60 2300 13800
0 4'Yo 143520
Gross 0 2,06,520
Total
56)
22-9-2009
Mr. Swayam returned 10 Low Capacity Stabilizers to A2Z Traders
purchased on 6-9-2009 as they were not according to the specifications .
Page : 24
Untiled Notes Page 65
SWAYAM
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57)
28-9-2009
Mr. Swayam received the statement of expenditure from Petty Cashier for
the month-end , 30-9- 2009 . The Statement is as follows:
58)
29-9-2009
Mr. Swayam received Bank Statement from ICICI Bank and found that
Rs.550 had been charged as half yearly Bank Charges.
59)
30-9-2009
VAT adjustment OCTOBER'2009
entry.
60
)
1-10-2009
Me Trading Company returned the following items , out of sales made on
17-9-2009 , as they were 1n excess of .its requirements .
Item Quantity Rote Value Output VAT Total
Hi gh Capacity Stabilizers 15 700 10500 12.5% 11,813
Su bmersible Pumps 10 2300 23000 4% 23,920
Gross Total 35,733
61}
3-10-2009
Mr. Swayam issued a cheque of Rs. 7,500 to Petty Cashier .
62}
4-10-2009
Mr. Swayam paid Salaries and Rent of Shop by cheque for September 2009.
Note : Adjust the Salary Advance of Rs. 500 ( 41h Installment ) given to Mr.Jairam Sengupta .
63}
10-10-2009
Mr. Swayam deposited the Bills Receivab le drawn on You Tech Services which
was duly honored .
64}
20-10-2009
Mr. Swayam soId the f oIIowinq items to He J Tradinq Corporat ion on eredit .
Ite I Quant Rote I Value I Output VAT Total
Ope
m We Pumps I
ity
200 1900 I 3,80 ,000 1 4 o 3,95,20
n ll 0
Untiled Notes Page 67
Gross 3,95,20
Total 0
Page : 25 SWAYAM
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65)
21-10-2009
Mr. Swayam issued a cheque to A2Z Traders towards the purchase made on
6-9-2009
66}
28-10-2009
Mr. Swayam received a cheque from Me Trading Company against Sales made
on 17-9-2009.
67}
29-10-2009
Mr. Swayam received the statement of expenditure from the Petty
Cashier for the month end ,
October 2009. The Statement is as follows :
Name of Expenses Amount (Rs
Conveyance Expenses of Marketing 600
.}
Shop Maintenance
Executives Expenses 450
Eleetrieity Expenses 400
Cell Phone Bill 1500
68
}
31-10-2009
NOVEMBER' 2009
VAT adjustment
entry.
69
}
4-11-2009
Mr. Swayam paid Salaries and Rent by cheque for October 2009.
70}
5-11-2009
Mr. Swayam issued a cheque of Rs. 8,000 to the Petty Cashier.
71)
10-11-2009
Mr. Swayam received a from Help Trad ing Corporation in settlement of his
cheque bill dated 20-
10-2009.
72
}
12-11-
2009
Mr. Swayam started Trad'mg in a New Product and pure hased 'Iff rom D'1rty
Enterpr1ses on eredi t.
Item I Quantity I Rate I Value I Input VAT Total
Untiled Notes Page 60
Electric Heater I 30 I 400 1 12,000 1 12.5 0 13,50
013,5
Gross
74) 00
Total
14-11-2009
Mr. Swayam paid Rs.4 ,500www.Tally9Book.
by cheque for theCom
cell phone he purchased for his
Sales Executive .
Page : 26 SWAYAM
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75)
15-11-2009
Mr. Swayam S0Id the f oIIowing items to He1Ip Trad'mg Corporat1on on ere
1t.
Item Quantity Rote Value Output Total
VAT
Open Well Pumps 50 180 90,000 4% 93,600
0
Gross 96,600
Note : Mr. Swayam asks lhe accountant
Total to create a voucher class ·Sales @ 4%" and
record the Sales ma Sales Vouche r.
Using voucher class eliminates lhe process of manually entering accounting details.
Applicable VAT is also displayed
automatically.
76}
29-11-2009
Mr. Swayam received the statement of expenditure from the Petty
Cashier for November 2009. The Statement
Nome of Expenses
is as follows :
Amount (Rs .)
Conveyance Expenses of Market inq Execut ives 600
Shop Maintenance Expenses 500
Electricity Expenses 300
Cell Phone Bill 1100
77
)
30-11-2009
DECEMBER'2009
VAT adjustment
entry.
78
)
4-12-2009
Mr. Swayam paid Salaries and Rent by cheque for November 2009.
79)
8-12-2009
M r. Swayam settled the bill dated 12-11-2009 of Dirty Enterprises by
cheque.
80}
10-12-2009
Mr. Swayam withd rew Rs.10,000 from the Bank for personal use.
81}
17-12-2009
Mr. Swayam received a cheque from Help Trading Corporation in
settlement of bill dated 15-11- 2009.
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83}
19-12-2009
Mr. Swayam paid Rs. 2500 in cash for the space provided in the exhibition .
84}
29-12 -2009
Mr. Swayam received the statement of expenditure from the Petty
Cashier for December 2009. The Statement is as follows :
86}
31-12-2009
Provision entry to transfer ba lance from VAT Adjustment account to VAT
Payable account.
JANUARY' 2010
87}
1-1-2010
Mr. Swayam paid Salaries and Rent by cheque for December 2009.
88}
2-1-2010
Mr. Swayam deposited Rs. 1,20,000 cash in ICICI Bank
89}
5-1-2010
Mr. Swayam paid VAT due for December 2009 by cheque.
90}
8-1-2010
Mr. Swayam pure hased the f oIIowing items on eredit f rom NeXT Services .
Orissa.
Item Quant Rote V Input Total
Submersible Pumps ity
50 alue 4%
1800 90,00 VAT 93,600
C
91}
12-1-2010
Mr. Swayam decides to have a price list for his customers. The price
levels were decided on the bas i s of old and new customers and also the
Untiled Notes Page 63
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volume of items purchased by them .
Page: 28 SWAYAM
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94)
20-1-2010
Mr. Swayam withdrew Capital of Rs.5,00,000 from the firm by cheque.
95)
25-1-2010
Mr. Swayam received a cheque from Simple Touch Traders for Sales made
on 14-1-2010.
96)
30-1-2010
Mr. Swayam received the statement of expenditure from the Petty
Cashier
Name for January 2010. The Statement
of Expenses Amountis as follows :
(Rs.)
Cell Phone Bill paid 800
Conveyance Expenses of marketing executives 500
Shop Maintenance Expenses 450
Electricity Expenses 350
97}
31-1-2010
VAT Adjustment Entry.
98}
31-1-2010
Provision entry to transfer balance from VAT adjustment account to VAT
Payable account.
Untiled Notes Page 65
Page : 29 SWAYAM
FEBRUARY'2010
99}
3-2-2010
Mr. Swayam paid VAT due for the month of January 2010 by cheque.
100}
4-2-2010
Mr. Swayam paid Salaries and Rent by cheque for January 2010.
101}
8-2-2010
Mr. Swayam purchased the following items from Dust Merchants .
Dust Merchants drew a bill of
exchange which was accepted by Mr . Swayam.
Item Quanti Rate Value Input VAT Total
Hiqh Capacity 50
ty 500 25 12.5':.'o 28 ,125
Open Well
Stabilizers Pumps 30 1500 45.
0
,0000 4% 46,800
Gross Total 0 74,925
102}
12-2-2010
Mr. Swayam soId the f oIIowing items to Me Tra d.ing Company on ered'1t.
Item Quantit Ra Dis Value Output Total
y te
85 5':.o
High Capacity
Stabilizers
30
0 c. ' 24,225 VA1 12.5% 27,253
Submersible 40 16 5':.'o 60,800 4% 63,232
Pumps 00 90.485
Gross Total
103}
14-2-2010
Mr. Swayam pure hsedtheflolow1nq items f rom C eon Inf ormation
Systems, H1y1derabad on cred it.
Item Quantit Rate Value Input Total
y CSl
Law Capacity 50 450 22 4% 23,400
Stabilizers ,500
104)
15-2-2009
M r. Swayam withdrew Rs.5,000 from bank for personal use.
Page : 30 www.Tallv9Book.com
Untiled Notes Page 67
SWAYAM
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105)
18-2-2010
Mr. Swayam purchased the following items from Dirty Enterprises on
credit.
Item I Quantity I Rote I Value I Input Total
VAT
Submersible Pumps I 30 I 2200 I 66,ooo I 4 o 68,640
Gross Total 68,640
106}
25-2-2010
Mr. Swayam sold the followinq items to Mumbai Uqly Tradinq
Corporation (Govt.Dept.) on credit.
Item I Quantity I Rote I Input Total
Volue
Submersi ble Pumps I 40 I 2500 1 4%
VAT 1,04,00
1.00.000 1 Gros: 01,04,00
Note : CST is exempted if the sale is made to government0depar tmen t.
107)
27-2-2010
M r. Swayam received the statement of expenditure from the petty
cashier for the month end ,
February 2010. The statement is as follows :
Nome of Expenses Amount (Rs
Cell Phone Bill paid 1300
.)
Conveyance Expenses of marketing 700
Shop Maintenance Expenses
executives 400
Electricity Expenses 450
108
}
28-2-2010
MARCH' 2010
VAT Adjustment
Entry.
109
}
M r. Swayam paid Salaries and Rent by cheque for February 2010.
110)
10-3-2010
Mr. Swayam honored the bills payable which was drawn by Dust
Merchants by issuing a cheque.
lll}
15-3-2010
Mr. Swayam sold the following items on credit to Faithful Traders ,
Untiled Notes Page 69
Kerala.
Item Quon Rot Output Total
High Capacity Stabilizers 30
tit e850 4%
CST 25,50
Open well Pumps 50 155 4% 77,50
0
www.Tally9Book. Com
0 0
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112)
18-3-2010
M r. Swayam SoId the f oIIowing items to Help Trad ing Corporation on eredi t.
Item Quantit Rate Value Input Total
High Capacity y5 950 4750 VAT 12.5'Yo 5343
Law Capacity
Stabilizers 15 750 11250 12.5'Yo 12657
Stabilizers Gross 18,000
113) Total
Mr. Swayam withdrew Rs.5,000 from bank for personal use.
114)
30-3-2010
M r. Swayam received the statement from the petty cashier for March
2010 . The Statement is as follows :
115)
31-3-2010
VAT adjustment entry.
116)
31-3-2010
Provision entry to transfer ba lance from VAT adjustment account to VAT
Payable account.
Provision Entries
All Provision entries are depicted using a Journal voucher.
Note : Provision Entries , Depreciation Entries and Adjustment Entries are
all recorded on 31-3- 2010.
1)
Shop Rent for March 2010.
2)
Salaries for March 2010.
Page : 32 SWAYAM
3)
Electricity Bill charges for March 2010 is Rs. 350
Depreciation Entries :
Sl.N Asset name Value to be Date of Rate of Depreciation
Depreciated Purchase Depreciation For 2009-201O
1. Cell Phone-1 5,500 10-4-2009 15% 825
2. Cell Phone-2 4,500 14-11-2009 7.5% 338
3. Computer 25,000 10-4-2009 60% 15,000
4. Electrical Fittings 5,000 10-4-2009 10% 500
5. Furniture & Fixture 1,50,000 5-4-2009 10% 15,000
6. Motor Vehicle 40,000 10-4-2009 15% 6,000
37,663
AdjustmentEntriesforPrepaidExpenses:
A II A du.ustment entries are dep.icted usinq a Journa vouc her.
Nature Paymen Period Amo Prepaid Prep Amount for
t u Period a
Of Insurance Current Year
Insuran 28-6-
Date 1-4-2009 to 2,40 1-4-2009 to 600
Amo 1,800
ce 2009 30-6-2010 0 30-6-2010 u
Other Adjustment Entries
1)
Transfer balance of withdrawals account to Mr. Swayom Satpathy Calcutta
account.
Closing Entries :
1)
Transfer of Profit and Loss account to Mr. Swayam Satpathy capital account.
****************** ************
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Untiled Notes Page 73