Scribd
Upload
167 views

Prepare The Balance Sheet Items: Tally - ERP

Tally is an accounting software package used to maintain financial records. It allows preparing balance sheet items by creating ledgers for accounts like share capital, loans, assets, liabilities, and equity. Users can follow single or multi-ledger accounting in Tally. Purchase and sales transactions can be entered into Tally by using vouchers. Financial entries in Tally are recorded by creating ledgers for accounts like purchases, taxes, parties, and stock items.

Uploaded by

reym
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
167 views

Prepare The Balance Sheet Items: Tally - ERP

Tally is an accounting software package used to maintain financial records. It allows preparing balance sheet items by creating ledgers for accounts like share capital, loans, assets, liabilities, and equity. Users can follow single or multi-ledger accounting in Tally. Purchase and sales transactions can be entered into Tally by using vouchers. Financial entries in Tally are recorded by creating ledgers for accounts like purchases, taxes, parties, and stock items.

Uploaded by

reym
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
You are on page 1/ 7

Tally is a system of maintaining financial data.

Tally is an accounting package.

Earlier Versions of Tally were: -

Tally 4.5, 5.4, 6.3, 7.2, 8.1, 9, Tally.ERP 9

The File which we prepare in Tally is called as Company.

Prepare the Balance sheet items >>>


Gateway of Tally  Accounts Info  Ledgers  Create
Share Capital :- Capital Account 20,00,000
Loan from Directors :- Unsecured Loan 5,00,000
Prov. For Depreciation: - Provisions 25000
Loan from IDBI against Motor Car :- Secured Loan 3,00,000
O/s Electricity Charges :- Current Liabilities 50,000
O/s Telephone Charges :- Current Liabilities 5000
Deposits for Premises :- Deposits 10,00,000
Investment in Debentures @ 15% :- Investment 8,00,000
Motor Car :- Fixed Assets 7,00,000
Bank of India :- Bank Accounts 1,90,000
Closing Stock :- Stock in hand 1,80,000

Don’t prepare Cash A/c, but Alter that Cash a/c.


Gateway of Tally  Accounts Info  Ledgers  Alter
Select Cash a/c & only put the amount: -10,000

You can follow single or multi ledger accounting system.

Creditor = Supplier = Seller


Debtor = Customer = Buyer
Purchase Voucher: - Purchase on Credit
Sales Voucher: - Sales on Credit
Receipt Voucher: - Cash/ Cheque Received
Payment Voucher: - Cash/ Cheque Paid
Steps for Purchase Voucher Entry with GST: -

Example: -
Purchased 10 laptops from ABC InfoTech for Rs. 40,000/- each on
credit @18% GST.

Solution: -
Purchase A/c…………….Dr. 4,00,000
To ABC InfoTech A/c 4,00,000

(Being 10 laptops from ABC InfoTech on credit @18% GST)

Features F11: Statutory & Taxation:

Say Yes in above both the options.

Now Create the following Ledger A/cs: -


1. Purchase with GST @18% A/c under Purchase A/c.
2. Party’s A/c under Sundry Creditors
3. CGST @9% on Purchase under Duties & Taxes
4. SGST @9% on Purchase under Duties & Taxes
1. Prepare Purchase with GST @ 18% A/c under Purchase A/c.

2. Prepare Party’s A/c Under Sundry Creditors


3. Prepare CGST @ 9% on Purchase under Duties &
Taxes

4. Prepare SGST @ 9% on Purchase under Duties &


Taxes

Press Ctrl + A to save directly.


Now create Stock Item: - Laptop

Now pass the Purchase (F9) Voucher Entry: -

See the entry in Display  Daybook


Now pass the Payment (F5) Voucher Entry: -

Now pass the Sales (F8) Voucher Entry: -


First prepare Party’s A/c and Sales A/c.
Now pass the Receipt (F6) Voucher Entry: -

See the Balancesheet.

You might also like