WHAT IS TALLY ?

Tally is a complete business and management software from tally solution Pvt Ltd. It handle our
financial solution VAT,Tax and lots of transactions.

WHO MADE TALLY ?

Tally software is founded by Shyam Sundar Goenka in 1988.

3.0 > 4.1 > 4.5 > 5.4 > 6.3 > 7.2 >8.1 > 9.0 > ERP 9.

WHERE FIRST TIME TALLY SOFTWARE IS USED ?

Tally software is used in peutronics private limited company in Bangalore.

An account is processing system in which we input our financial transaction and out-put our financial
statement.

There are three types of account :

1) Personal account
2) Real account
3) Nominal account

Those are which one related to any particular person is called personal account.

There are three types of personal account

i) Natural account
ii) Artificial account
iii) Representative account

[email protected]
 i) Natural account: All account which are made by god is called natural account.eg:- Ram
account, Mohan account, etc.
ii) Artificial account: All account which are made by person is called artificial account. Eg:- RBI
account, Unique computer, Nidhi enterprises, etc.
iii) Representative account : When any suffix and prefix comes with nominal account is called
representative account. Eg:- Prepaid rent account, Acquired income account, etc.

All account which are related to assets or properties is called real account.

There are two type of real account :-

i) Tangible account
ii) Intangible account

i) Tangibleaccount :- All account which can be touch or seen is called tangible account. Eg:-
Machinery account, Building account, Furniture account, etc.
ii) Intangibleaccount :- All account which cannot be touch or seen is called intangible account.
Eg:-Part nary account, Goodwill account, etc.

All accounts which are made by profit and loss or income and gain is called nominal account. Eg:-
Salary account, Rent account, Discount account, etc.

A business has a number of transactions everyday during accounting period. The transaction is
analyzed by any recording individual.

There are two types of transactions:-

1) Cash transaction
2) Credit transaction

[email protected]
A transaction which involveimmediate payment in cash or cheque is called cash transaction. Eg:-
Purchase goods for Rs.10000/-

A transaction which involve not immediate payment in cash or cheque is called credit transaction. Eg:-
Purchase goods from Ravi on credit Rs.500/-

TRANSACTION

CASH CREDIT
TRANSACTION TRANSACTION

Cash Credit
Cash+Name Credit+Name
Withdraw Only Name
Diposit
Receipt

EXAMPLES

1) Purchased goods for cash rupees 20000

->Cash transaction

2) Sold goods to Ramu rupees 10000

- > Credit transaction

(1) Personal account –

i> Debit the Receiver
ii> Credit the Giver
(2) Real account –
i> Debit what comes in

[email protected]
 ii> Credit what goes out
(3) Nominal account –
i> All expense & loss Dr(Debtors)
ii> All income & gain Cr(Creditors)

Discount is reduction from a started mount in general. It is difference between a face value and a lower
amount paid or received.

There are two types of discount:-

1) Trade discount
2) Cash discount

Trade discount represent an allowance which is made by the manufactures to wholesalers and
wholesalers to retailers. And it is calculated as a percentage of the list price of goods.

NOTE: Trade discount is not recorded in the book of account.

EXAMPLES:

Q) Purchased goods from Ramu Rs.50000/- in which 10 % TD.

Purchase A/c-Dr 45000

To Ramu A/c 45000

Q) Sold goods to Ramlal Rs.20000/- in which give 20% TD.

Ramlal A/c-Dr 16000

To Sales A/c 16000

[email protected]
Cash discount are allowed to encourage a debtor to pay off his debit within a specified period. It is settle
to debtors has account within a given time period.

NOTE: Cash discount is recorded in the book of account separately.

Q) Purchased goods for cash Rs.10000/- in which 5% CD.

Purchase A/c-Dr 10000

To Discount A/c 500

To Cash A/c 9500

Q) Sold goods to Ram for cash Rs.20000/- in which 10% CD.

Cash A/c-Dr 18000

Discount A/c-Dr 2000

To Sales A/c 20000

NOTE:

 vxj ge uxn [kjhnsaxs rks %

Purchase A/c-Dr

To Discount A/c

To Cash A/c

 vxj ge m/kkj [kjhnsaxs rks %

Purchase A/c-Dr

To Discount A/c

To Party A/c

 vxj ge uxn cspsaxs rks %

Cash A/c -Dr

Discount A/c

To Sales A/c

[email protected]
  vxj ge m/kkj cspsaxs rks %
Party name -Dr
Discount A/c
To Sales A/c
 Sales ges’kk dzsfMV i{k esa vkrk gS A
 Purchase Debit ,oa Credit i{k nksuks esa vkrk ;k j[kk tkrk gSA

It includes 5 columns -

Date: Date of transaction

Particular: Detail of transaction and account

LF (Ledger Follow) : Page no of account ([kkrk dk i`”B la[;k)

Amount Dr : Debtors amount

Amount Cr : Creditors amount

FORMAT OF ENTRY

Date Particular L.F Amount-Dr Amount-Cr

NOTE:EXERCISES ARE IN THE LAST OF LESSON.

1. Open Tally 9 or Tally ERP 9 :

Windows (start button) > All Program > Tally 9 > Tally 9 Release 1.0

2. Press Esc button TWO times first in “Activation form” and second in “Tally vault Password”
3. Create company :

[email protected]
 Now we have to go on Create company and a form will appear as bellow .

Fill form correctly with name, mailing name, address, country in Statutory
compliance for, state, Phone no, E-mail, currency symbol, Financial year, books
beginning date, Vault password (It is very necessary to create a company).

YES in ‘Use security control’ if want to set username and password in your
company.

 When we are in our company profile that time if we want to Open other company Press
Alt+F3.
 If we want to Shutdown or Alter the company Press Alt+F3.

 If we want to Delete our company First Alter and select the company then Press Alt+D
and then Yes.

[email protected]
 Shutdown & Alter

Alt+F3

All financial entries are performed in ledger.

Create a Ledger:

GOT (Gateway Of Tally) -> Account info -> Ledger -> Create.

Options:
Create- Make a new ledger

Display- Show created

ledger

Alter- Remake ledger

[email protected]
 Name Under
Salary A/c Indirect expense
Rent A/c ,,
Telephone Charge A/c ,,
Interest Paid A/c ,,
Commission Paid A/c ,,
Depreciation A/c ,,
Office Expense A/c ,,
Miscellaneous fee A/c ,,
Electricity Charge A/c ,,
Wages A/c Direct expense
Advertisement A/c ,,
Flight Charge A/c ,,
Carriage Charge A/c ,,
Discount A/c ,,
Labor charge A/c ,,
Land A/c Fixed assets
Building A/c ,,
Machinery A/c ,,
Furniture A/c ,,
Cash A/c ,,
Interest Received A/c Indirect income
Commission Received A/c ,,
Bed debs Received A/c ,,
Discount Received A/c ,,
Tax Duties & Taxes
VAT ,,
Input vat ,,
Output vat ,,

[email protected]
TDS ,,
TCS ,,
CST ,,
FBT ,,
Purchase A/c Purchase Account
Purchase Return A/c ,,
Sales A/c Sales Account
Sales Return A/c ,,
Party Name (seller) Sundry Creditors
Party Name (Buyer) Sundry Debtors

Tally is a program with a verity of Accounting voucher.

There are many types of voucher:

F4: Contra

F5: Payment

F6: Receipt

F7: Journal

F8: Sales

Ctrl+F8: Credit note

F9: Purchase

Ctrl+F9: Debit note

It records all transaction which are deposit, withdraw or transfer from one bank to another bank.

Ex:- Deposit into bank Rs.10000/-

Bank A/c –Dr 10000

To Cash A/c 10000

Withdraw from bank Rs.10000/-

[email protected]
 Bank A/c –Dr 10000
To Cash A/c 10000

Transfer SBI to PNB Rs.10000/-

PNB A/c –Dr 10000

To SBI A/c 10000

It records all transactions which are paid, not only paid if we

purchase any using goods.

Ex : Paid to Ramu Rs.10000/-

Ramu A/c –Dr 10000

To Cash A/c 10000

Purchase furniture Rs.5000/-

Furniture A/c –Dr 5000

To Cash A/c 5000

It record all transaction which are received not only received if we sales any using goods.

Ex: Received cash from Mohan Rs.10000/-

Cash A/c –Dr 10000

To Mohan A/c 10000

Sold Furniture Rs.20000/- for cash.

Cash A/c –Dr 20000

To Furniture A/c 20000

It records all transactions which are non-cash.

Ex: Goods given to charity Rs.1000/-

[email protected]
 Charity A/c –Dr 1000
To Purchase A/c 1000

Loss by fire goods Rs.5000/-

Loss by fire A/c –Dr 5000

To Purchase A/c 5000

Stolen by theft goods Rs.20000/-

Stolen by theft A/c –Dr 20000

To Purchase A/c 20000

It records all transactions which are sales on cash or credit.

Ex: Sold goods for cash Rs.10000/-

Cash A/c –Dr 10000

To Sales A/c 10000

Sold goods to Ramu Rs.20000/-

Ramu A/c –Dr 20000

To Sales A/c 20000

It records all transactions which are returned by customer.

Ex: Goods return by Ramu Rs.5000/-

Sales return A/c –Dr 5000

To Ramu A/c 5000

It records all transactions which are purchased on cash or credit.

[email protected]
 Ex: Purchased goods for cash RS.10000/-

Purchase A/c –Dr 10000

To Cash A/c 10000

Purchased goods from Ramlal Rs.50000/-

Purchase A/c –Dr 50000

To Ramlal A/c 50000

It records all transactions which are returned to

supplier.

Ex: Returned goods to Ramlal Rs.20000/-

Ramlal A/c –Dr 20000

To Purchase return A/c 20000

All financial entries are performed is called ledger. It is second book of account.

There are 8 columns in ledger entry:

Date Particular JF Amount-Dr Date Particular JF Amount-Cr

# In this entry if we make entry for cash then in particularcash a/c will not written.

For example: entry for Deposit into bank Rs.5000/- date 1/03/17 and

Purchased goods for cash RS.10000/- date 2/03/17.

Date Particular JF Amount-Dr Date Particular JF Amount-Cr

1/04/17 Bank a/c 5000
2/03/17 Purchase a/c 10000
Bd (Bright down): In larger amount and starting date of next month.

[email protected]
Cd (Carry down): In smaller amount and last date of same month.

Date Particular JF Amount-Dr Date Particular JF Amount-Cr

1/03/17 Bank a/c 5000
2/03/17 Purchase a/c 10000

1/04/17 To balance Bd 5000 31/03/17 To balance Cd 5000

Larger amount - Smaller amount

10000 – 5000 =5000

Some ledgers
(1) Capital a/c , Under-Capital a/c, with opening balance – Rs.60000/-
(2) Land & Building a/c, Under-Fixed assets, with opening balance- Rs.60000/-
(3) Art store a/c, Under-Sundry debtors, with opening balance- Rs.85000/-
(4) ABC & Corporation a/c, Under-Sundry creditors, with opening balance –
Rs.85000/-
(5) Local sales, Under-Sales a/c, with opening balance –Rs.0/-
(6) Local Purchase a/c, Under-Purchase a/c, With opening balance –Rs.50000/-
(7) Bank of India a/c, Under-Bank a/c, with opening balance –Rs.30000/-
(8) Sales a/c, Under-Sales a/c, with opening balance –Rs.40000/-

NOTE:Make ledger entry of exercise 1 of Journal entry.

Trial balance shows the status of business. It displays income, expense, profit and loss &
liabilities.

There are five columns in trial balance:

Sl.No Particular LF Amount-Dr Amount-Cr

Assets+Expense+Drowing=Dr

Liabilities+Income+Capital=Cr

[email protected]
Group is a collection of ledger. There are 28 group in tally.

Primary Group Sub-Group

1) Capital a/c 1) Bank OD A/c
2) Fixed assets 2) Cash in Hand
3) Current assets 3) Stock in Hand
4) Loan (Liabilities) 4) Deposit assets
5) Suspense a/c 5) Loan & Advance
6) Investment 6) Sundry Debtors
7) Branch/Divisions 7) Sundry Creditors
8) Miscellaneous Expense 8) Duties & Taxes
9) Sales a/c 9) Reserves & Supplier
10) Purchase a/c 10) Bank a/c
11) Indirect Expense 11) Secured Loan
12) Direct Expense 12) Unsecured Loan
13) Direct Income 13) Provisions
14) Indirect Income

[email protected]
= How to create Group:-
GOT(Gateway Of Tally)> Account info > Group > Create

Ex:

Administrative Expense – Indirect Expense

Marketing Expense – Indirect Expense

Selling & Distribution – Marketing Expense

Local Customer – Sundry Debtors

Inter-state Customer – Sundry Debtors

Registered Customer – Local Customer

Unregistered Customer – Local Customer

(jgfr;k)
Stock group are provides for the purchase of classification of stock items.

[email protected]
=How to create Stock group:-
GOT > Inventory info > Stock group > Create.

Example:

Stock Group Under

Television Primary
L.G Television
Onida ,,
Philips ,,
Sony ,,
Intex ,,
Mobile Primary
Oppo Mobile
Lava ,,
Nokia ,,
Sumsung ,,
Lenevo ,,
Redmi ,,
Letv ,,
Micromax ,,

[email protected]
 OnePlus ,,
Asus Zenphone ,,
Cloth Primary
Shirt Cloth
T-Shirt ,,
Pant ,,
Saree ,,
Shut ,,
Medicine Primary
Antibiotic Medicine
Anti-fungal ,,
Anti-alergic ,,

Unit of measure: Stock item mainly purchase and sales on the basis of quantities. The
quantities are measured in unit.

= How to create unit:-

GOT > Inventory info > Unit of Measure > Create.

[email protected]
Examples:

Symbol Formal Name Symbol Formal Name

Pcs Pieces g Gram
Kg Kilogram cm Centimeter
Pkt Packet dz Dozen
L Litre ml Mililitre
m meter mm Mili meter
b box stp strip
t ton

This is the feature which allows you to perform a parallel classification of stock item.

To activate stock category Press F11 and go to Inventory features and set yes to
“maintain stock category”

=How to create Stock category:-

GOT > Inventory info > Stock Category > Create.

Example: Under:-Leather

[email protected]
 Name:-Bag, Shoe,etc.

The place where stock items are stored in huge amount is called godown.

To activate godown press F11 and go to Inventory features and se yes to

“maintain multiple godown” OR “maintain multiple location”.

=How to create Godown/Location:-

GOT > Inventory info > Godown OR Location > Create.

Name Under
Godown Primary
Onside Godown
Ware side Godown

Stock items are referred to goods which you deal or you manufacture of trades
(Purchase & sales).

=How to create a stock item:-

GOT > Inventory info > Stock item > Create.

[email protected]
 Exercises are on the last of
this note.

It can be an organization any unit of an organization which transaction can be allocated

when only cost or expense is allocated to use units. They are referred to as cost center.

To activate cost center press F11 and go to Accounting features and set yes to
“Maintain Cost center”.

=How to create a Cost center:-

GOT > Account info > Cost center > Create.

Name Under
Project Primary
Road Project
Building Project
Airport Project
Bag Project
project

[email protected]
  Create a ledger ‘Project sales’ under Sales a/c and set yes –Cost center
applicable. Inventory value are affected- NO
 Create a ledger ‘Project purchase’ under purchase a/c and set yes –Cost
center applicable and No in Inventory value are affected.
 Create following supplier & buyer (Ledger):-
a) Universal cement under sundry creditors with cost center yes.
b) Tata steel under sundry creditors with cost center yes.
c) Chhabra properties under sundry debtors with cost center yes.
d) Begusarai city authority under sundry debtors with cost center yes.
 Create a convenience A/c and Postage A/c under Indirect expense with cost
center yes in both ledgers.
 Create another ledger ‘Consulting fee’ under direct income and cost center
yes.
 Create a party ledger Lalbabu A/c under sundry debtors. Cost center –yes.

Exercises are in the last of this note.

For organization globalization of business it has became a requirement to work with

more than one currency.

Transactions are often mode of currency other than become very powerful and
cost handle multicurrency transaction.

To activate multicurrency press F11 and go to Accounting features and set yes to
“Allow multicurrency”.

[email protected]
=How to create currency:-

GOT > Account info > Currencies > Create.

S.NO Formal name Symbol Shortcut

1) Yen ¥ Alt+0165
2) Euro € Alt+0128
3) Pound £ Alt+0163
4) US Dollar $ Shift+4
Show amount in million-No
Put a space between symbol-Yes
Symbol of decimal places-2
>> Alter the currency US Dollar:

Three new column appear on the screen-

I ) Standard Rate II ) Selling Rate III ) Buying Rate

I) Standard rate: This rate of exchange is obtained from the daily newspaper.
This standard on contract rate of exchange for a particular day.

[email protected]
 II) Selling rate: This is the rate of your bank will be purchase dollar ($) or other
currency.
III) Buying rate: This is the rate of your bank will be sales dollar or other currency.

=Set standard rate $35 date: 01/04/2017

Selling rate $36 date: 01/04/2017

Buying rate $37 date: 01/04/2017

NOTE: Date will be entered as we entered in financial year starts from.

 Create a ledger ‘Dollar a/c under ‘Bank a/c’ and currency symbol Dollar ($).
 Create 2 ledger of supplier and buyer:-
i) Foreign customer under sundry debtors.
ii) Foreign supplier under sundry creditors.
 Create an item ‘Leather bag’ under ‘Bag stock’ with the unit of ‘pcs’ and stock
category ‘Leather’.
 Purchase leather bag from foreign supplier 100 pcs @250$.
Purchase a/c $25000
To Foreign supplier a/c $25000

 Sold leather bag to foreign customer 50 pcs @ $300.

Foreign customer a/c-Dr $15000

To Sales a/c $15000

 Paid to Foreign supplier $25000.

Foreign Supplier a/c-Dr $25000
To Dollar a/c $25000

 Received from foreign customer $15000.

Foreign Customer a/c-Dr $15000

To Dollar a/c $15000

[email protected]
  Create a ledger ‘Foreign gain & Loss’ under ‘Indirect expense’ and Cost center
are applicable- NO.
 Alter the voucher type ‘Journal’ and in the name of class- ‘Adjust gain & Loss’.
Enter and choose Yes in the option ‘Use class foreign gain &loss’, Select the
ledger- ‘Foreign gain & Loss’.
=GOT > Account info > Voucher type > Alter >Journal.

 Create a journal entry with adjust gain and loss class field select foreign
customer from the list of ledger you can note foreign gain & loss amount
display automatically in amount field.

A cheque printing is written order to the bank of any started some of many cheque any
written or printed. In Tally cheque will be printed when printing a payment voucher.

To activate cheque printing press F11 and go to Accounting feature and set yes
“Enable cheque printing.”

After setting yes in set/Alter cheque printing configuration a new window will open:

[email protected]
 After setting these
two value again a
new window will
open with cheque
properties (width, height, etc)

Fill the
appropriate
value and use
in filling
voucher.

([kpZ dk C;kSjk)

The main purpose of budget is to control the expenditure. It is possible by creating

budget and comparing the budget figure with actual figure. Tally allowscreating multiple
budgets like budget for group, budget for ledger and budget for cost center.

To activate budget press F11 and go to Accounting feature and set yes to
“Maintain budget and control.”

[email protected]
=How to create budget:-

GOT > Account info > Budget > Create.

EXERCISE

 Create a new ‘Office budget’ under ‘Primary’ for the prepaid of 01/04/17 to
31/03/2018.
 Select ‘Yes’ in group and make entry:-
Group Cost center Type of budget Amount
Capital A/c Not applicable On closing balance 100000
Loan ,, ,, 50000
Fixed Assets ,, ,, 50000
Current Assets ,, ,, 50000
Sundry creditors ,, ,, 50000
Sundry debtors ,, ,, 50000

 Now select ‘Yes’ in ‘ledger’ and make entry:-

Ledger Cost center Type of budget Amount
Salary A/c Not applicable On net transaction 100000
Wages A/c ,, ,, 50000
Electricity charge ,, ,, 10000
Office expense ,, ,, 2000
Telephone charge ,, ,, 1000
Travel expense ,, ,, 5000

NOTE:-ON CLOSING BALANCE NORMALLY HAVE LIABILITIES AND ASSETS TYPE OF

ACCOUNT LIKE LOAN, CREDITORS AND DEBTORS.

[email protected]
 ON NET TRANSACTION NORMALLY USED FOR INCOME AND EXPENSE ACCOUNT
LIKE INDIRECT EXPENSE, SALES A/C, PURCHASE A/C.

The budget variance report shows the figure of budget with actual percentage variance
from budget with percentage.

To show the budget variance:-

GOT > Display > Account book > Bank book.

Press Alt+C to show the new column for budget and Alt+B for variance.

Scenario option allow to use build model like project or estimation with different
situation, parameters and conditions. This is called MIS (Management Information
System).

To activate scenario press F11 and set yes ‘Use reversing journal’ in ‘Accounting
feature’.

 Create a reversing journal entry for salary of the month of August Rs 50000/-

Salary A/c-Dr 50000

To Outstanding Salary 50000

 Create a scenario ‘Project expense’ and incude group ‘Reversing Journal’.

[email protected]
  Display the scenario figure in cash/Bank book using press Alt+C to show the
new column scenario.

Cash flow statement showing movement of money in, out cash in flow and out of flow
of business.

To show the cash flow statement:-

GOT > Display > Cash/Fund flow > Cash flow.

Note: (1) To view the cash flow statement with percentage set Yes on ‘Show in
percentage’ in F12.

(2) To view the cash flow statement with graph press F12 and set yes on ‘show the
graph’.

(3) To view graph wise cash flow select any group to get details of cash in flow and out
flow.

Fund flow provides the information of movement of fund (Source & Utilization).

To view the fund flow statement:-

GOT > Display > Cash/Fund flow > Fund flow.

Fund flow displays opening and closing balance working in capital and flow of fund in
difference in opening and closing working capital.

[email protected]
Interest calculation can be calculated in the business of the basis of simple interest and
compound interest on the loan and also on daily payment.

To activate interest calculation press F11 and go to ‘Accounting feature’ and

set yes to ‘Activate interest calculation’ and ‘Interest calculation & parameter’.

 Create a ledger ‘Bank A/c’ Under ‘Bank A/c’ and set yes ‘Activate interest
calculation’.

 Create a ledger ‘Mohan A/c’ under ‘Sundry debtors’ and set yes to interest
calculation.

To display the interest calculation:-

GOT > Display > Statement of Account.

Press F11 and go to ‘Inventory feature’ and set yes to:-

‘Allow purchase order processing’

‘Allow sales order processing’

[email protected]
  Create a ledger ‘ABC Bricks’ under ‘Sundry creditors’.
 Create a new stock item ‘Bricks’ under ‘Building material’ with the unit of ‘pcs’.

** Purchase Order **

Alt + F4 (Accounting Voucher)

After entering Name of item 2 new windows will open:-

 On dated 01/04/17, Order no BK001 purchase order Bricks to ABC Bricks

@10000 8 pcs stored onside. Delivery after 10 days.
 Entry another purchase order to ABC Bricks, Order no BK002 @ same price 9
pcs Bricks in godown ware side and carriage charge 4% on it.

**Sales Order**

Alt + F5 (In accounting voucher)

[email protected]
After entering name of item same window as purchase order will be displayed.

 On date 01/04/18 sales order steel to Tata steel, Order no T001 Quantity 10
ton @ 10000 per ton. Godown ware side and flight 12% on it.
 Entry another sales order steel to Tata steel, Order no T002 Quantity 5 ton @
10000 per ton. Godown onside and flight charge 12% on it.

To view the order position:-

GOT > Stock Summary > Alt + C.

-Purchase order processing

-Sales order processing.

Reorder level is a quantity in hand for stock item which you sold order your supplier the
important at reorder level to have sufficient stock to customer.

To make Reorder level:-

GOT > Inventory info > Reorder level >Select stock item (Group).

[email protected]
NOTE: (1) The item which is taken in lower will not use in advance mode (Higher).

(2) Simple mode time: days and advance mode time: Month.

 Advance:-
 Simple:- 1. Item name- CPU (Computer)
1. Item name- Bricks Reorder level- 10 pcs
Reorder level- 5000pcs -1 Month
-10 Days Minimum- 5 pcs
-Higher
Minimum- 2000pcs
-Lower 2. Item name- Samsung (Mobile)
2. Item name- Steel
Reorder level- 10 pcs
Reorder level- 5 Ton
-10 Days - 1 Month
Minimum- 2 Ton Minimum- 5 pcs
-Lower
-Higher

Display the Reorder Status:-

GOT > Display > Statement of Inventory > Reorder Status > Select Stock item.

Batch wise details are used to identify the movements of inventory in batches or this is
primary requirement of the pharmacy industry and food materials.

To activate batch wise details press F11 and go to ‘Inventory Feature’ and set yes-

- ‘Enable batch wise details’

- ‘Set expiry date for batches’

[email protected]
NOTE: (1) Manufacturing date and expiring date for batch is useful for business. That
date is goods that have expiry date like medicine and food materials.

(2) Manufacturing date cannot be later than the voucher date.

(3) Expiry date cannot be earlier than the manufacturing date.

TYPE OF ADJUSTMENT

(A) New Reference:-It is standard for financial transactions.

(B) Against Reference:-It is used to set payment against expiry new reference.
(C) Advance:-This is applicable for receive or payment in advance to making sales.
(D) On account:-On account is selected when you will able to make payment or
receipt against specified pending reference.

EXERCISE:

 Create an stock item ‘Sumo’ with the unit of ‘Strip ‘or ‘Stp’ under ‘Medicine’
category ‘Painkiller’ and set yes to ‘Batches wise details’ rate of duty ‘5’.
 Create a supplier ‘Durga pharma’ under ‘Sundry creditors’.
 Make a purchase entry sumo from Durga pharma 100 stp @ 40 per stp. Batch
no- DP001, manufacturing date 01/04/18 and expiry date 21/03/19. Stored in
ware side.
 Make a sales entry for cash 50 stp on same batch wise. Manufacturing date
and expiry date and godown ware side.
 Create another purchase invoice from Durga pharma 200 stp @ 50 per stp.
Batch no- DP002, manufacturing date 01/04/18, expiry date-31/03/20 and
stored in onside.
 Create another sales invoice for cash ‘sumo’ 10 stp with Batch no-DP001 and
50 stp of DP002.

[email protected]
 Display the stock details-

GOT > Accounting voucher > Alt + F10 (to display physical stock) > Enter
item name.

Price list is maintained for different type of customer.

To activate price level press F11 and go to ‘Inventory feature’ and set yes ‘Use
multiple price level’.

GOT > Inventory info > Price list > Create.

Stockist Computer 10 24000 5%

Dealer “ 5 26000 4%
Wholeseller “ 4 27000 3%
Retailer “ 2 28000 2%
Customer “ 1 30000 0

VAT(Value Added Tax) is additional tax charged on sales & purchase of goods with in
store. VAT is on buyer rate dealer and any other purchase who add the value of goods.

[email protected]
 Tax

VAT/GST CST
(Central Sales
Tax)
Input Output

Maximum Retail Price:-

VAT on MRP

Inclusive Exclusive
(All Tax included) (All Tax paid on MRP)

 Create a stock item dairy milk 10 pkt @20 per pkt, Kitkat 15 pkt @ 10 per pkt,
FiveStar 10 pkt @ 20 per pkt.
 Create a supplier ‘Pankaj store’ under ‘Sundry creditors’.
 Create a ledger ‘GST’ under ‘Duties and Taxes’.
 Create a purchase entry from Pankaj store Dairy milk 10 pkt, FiveStar 5 pkt,
KitKat 5 pkt and GST charge 12%.
 Create a new stock item crocin, Disprin, D-Cold with the unit of stp.
 Create a purchase entry from Durgapharmacrocin 10 stp @ 15 per stp, Disprin
5 stp @ 10 per stp, D-Cold 5 stp @ 12 per stp and GST charge 5% on it.
 Create a purchase from ‘Bhi-BhaiFashon’ shirt 5 pcs @ 2000, T-Shirt 3 pcs @
1000, Saree 2 pcs @ 1500, pant 3 pcs @ 1800, Coat 1 pc @ 3500 and GST 12 %
on it.
 Create another purchase from ‘Maa computer’ CPU 2 pcs @8000, Monitor 3
pcs @ 6000, Mouse 5 pcs @ 300, Keyboard 4 pcs @ 500, printer 1 pc @ 12000
and GST charge 15% on it.

[email protected]
  Create a purchase entry from ‘Good books’ Notebook 5 pcs @ 20, eraser 10
pcs @ 5, pencil 10 pcs @ 7, Instrument box 2 pcs @ 80 and charged GST 9 %
on it.

 Create a ledger ‘Good books’ under ‘Sundry creditors’.

 Create a new stock item ‘Stapler’ under stationary with the unit of Nos
(Numbers).

 Create a new group ‘Expense on purchase’ under purchase account and set
yes on –(applicable for value) for ‘method to allocated when are in purchase
invoice’.

 Create a ledger expense on purchase account:-

a) Sales tax on purchase

b) Packing charge on purchase
c) Carrage charge on purchase
 On dated 01/04/17 purchased stapler from goods books 100 Nos @ 200 per
Nos selected sales tax on purchase 5%, Carriage charge on purchase Rs.100
and Packing charge on purchase Rs.500.
 Create another entry from good books Notebook 20 pcs @ 20, pencil 25 pcs
@ 5, pen 10 pcs @ 15, eraser 100 pcs @ 7 and selected sales tax on purchase
5%, carriage charge on purchase Rs.200 and packing charge on purchase
Rs.100.

=Display the Additional cost details:-

GOT > Display > Inventory book > Stock item.

[email protected]
 (Tax Deducted at Source)
TDS is one of the modes of collection of income tax while shutting any kinds of payment
of the payer deducted income tax from the payer and deposit with income tax
authority.

To activate TDS Press F11 and go to ‘Statutory & Taxation’ and set yes at
‘Enable TDS Source’ and ‘Alter TDS’.

 Create a ledger TDS A/C under Duties & Taxes and choose TDS nature
payment to sub-contractors.
 Create a ledger job contract charge under indirect expense. Set yes TDS.
 Create a party ledger ABC corporation under sundry creditors and set yes-
Is TDS applicable?
Individual (Huf) Non-Resident
Is lower deducted applicable?
 Make a journal entry for job contract charge Rs.50000 by ABC Corporation.
ABC corporation A/c Dr 50000
To Job contract charge 50000

 Make a payment entry after deducted amount 10% and deposit to the
government.
Bank A/c Dr 5000
To Cash (TDS) 5000

 Make an entry paid salary to Mohan Rs.40000 and charged TDS.

(Fringe Benefit Tax)

FBT is an essential income tax payable by the employee in respected of fringe benefit by
the employer to his employers.

[email protected]
 It is a tax on expenditure not income. It is a tax on employer cannot be
received from the employers.

To activate FBT press F11 and go to ‘Statutory & Taxation’ and set yes to
‘Enable FBT service’ and ‘Alter FBT Debtors’.

=Types of FBT:-

(i) Direct FBT:-Free on consumption Ticket provided to the employer private

journey to employers or their family members.
(ii) Demand FBT:-Use of Telephone expense, Entertainments, Festival
celebrations, Health club, convince to railway travelling, Hospitality, etc.

 Create two ledger supplier and customer.

 Create a ‘FBT expense’ ledger by the name of ‘Tour and Travelling expense’
under ‘indirect expense’ and set yes to-Is FBT applicable, select FBT category
tour and travelling foreign travel.
 Create a ledger ‘B.K Ltd’ under sundry creditors.
 Create a journal entry for tour and travelling expense Rs.50000 booking by B.K
Ltd.

B.K Ltd A/c Dr 50000

To Tour and travelling 50000
expense
 Create a ledger ‘Disha enterprises’ under sundry creditors.
 Create a purchase entry for entertainment Rs.20000.
Purchase A/c Dr 20000
To Disha enterprises 20000

 Create a payment entry by cash expense for tour and travelling expense
Rs.10000.
Purchase A/c Dr 20000
To Disha enterprises 20000

 Create a FBT recovery under journal and set yes-‘Use class for FBT recovery’.

[email protected]
 GOT > Account info > Voucher type > Create.
 Create a FBT recovery entry for B.K Ltd for Rs.7000 against Tour & travelling.
B.K Ltd A/c Dr 7000
To Tour & Travelling 7000

Display FBT:-

GOT > Display > Statutory report > FBT report > FBT consumption.

(Tax Collected at Source)

TCS is by the seller from the buyer on sales of some specified goods as defined under
section 206 of the income tax at 1961.

To activate TCS press F11 and go to ‘Statutory & Taxation’ and set yes to ‘TCS
at source’.

=Some goods TCS list:-

Sl.No Name of goods Percentage on the amount

1. Alcohol liquid 12%
2. Tend lives 5%
3. Timber 2.5%
4. Other forest products 2.5%

 Create a party ledger ‘Data & corporation’ under ‘Sundry creditors’ and set yes
‘Is TCS applicable’.
 Create a stock item ‘Tend lives’ with the unit of ‘kg’ under ‘Alcoholics’.
 Create a TCS ledger under ‘Duties & Taxes’ and select the type of duty TCS
nature of goods tend lives.
 Create a purchase entry tend lives from data & corporation 100kg @ 1000 per
kg and charged TCS on it.
 Create a sales entry for cash tend lives 50kg @ 1200 per kg and charged TCS on
it.
 Deposit the TCS amount to the government.

[email protected]
 Bank A/c Dr 5000
To Cash A/c (TCS) 5000
To display TCS report:-

GOT > Display > Statutory report > TCS report.

Service tax is indirect tax on service provided. Service tax is paid by buyer of service to
seller of service who deposits tax to the government.

To activate service tax press F11 and go to ‘Statutory & Taxation’ and set yes
‘Enable service tax’ and ‘Alter the service tax details’.

 Create a party ledger ‘A.Kumar & Sons’ under sundry debtors and set yes ‘Is
service tax applicable’.
 Create a ‘Service tax’ ledger under ‘Duties & Taxes’, type of duty ‘service tax’
and category ‘Commercial training & coaching centre’.
 Create a ‘Service sales’ ledger under sales A/c and set yes to ‘Is service tax
applicable’.
 Create a service sales entry to A.Kumar and Sons for 2000 and also charged
service tax.
A.Kumar and Sons A/c Dr 22000
To Service sales 20000
To Service tax 2000
 Create a receipt entry for service tax from A.Kumar and Sons 10%.
Service tax Dr 2000
To A.Kumar and Sons 2000

 Paid Service tax amount to the government.

Bank A/c Dr 2000

To Cash 2000
To Service tax

 Create a ledger ‘Service purchase’ under purchase A/c and set yes to ‘Is
service tax applicable’.
 Create a party ledger ‘Anuja & Sons’ under sundry creditors and set yes to ‘Is
service tax applicable’.

[email protected]
  Create a ledger ‘Service tax purchase’ under ‘Duties & Taxes’.
 Create a service tax purchase entry from Anuja & Sons Rs.25000 and also
charged service tax.
Service purchase A/c Dr 27500
To Anuja & Sons A/c 22000
To Service tax 2500

(Central Sales Tax)

CST is a sales tax on interstate tax paid when goods sold from one state to another
state.

To use CST press F11 and go to

Set yes to ‘E1 form’ and ‘E2 form’.

=Type of Forms:-

 C-Form: This is the most important form issued by a registered buyer to a

registered seller for interstate sales.
 D-Form: This is issued by government departments for goods bought for its own
use to registered seller.
 E1-Form: This is issued by the dealer making the first interstate sales when the
buyer transfers the document till to another buyer.
 E2-Form: This is issued by the second seller in cross of sales by transfer of
document till the purchase claimed.
 F-Form: This is issued by an export for purchase of goods from another state to
be claimed f-form.
 F1-Form: This is issued when goods are dispatched to another state to the
branch of dealer in other state.
 I-Form: This is issued by a dealer located in a SEZ (special economic zone) to claim from
CST increase of non-declared goods.

NOTE: It is important that VAT is enabled to apply the form correctly.

[email protected]
 Exercise

 Create a ledger ‘Supplier’ under ‘Sundry Creditors’ and inter ‘state sales tax
number’ in mailing details.
 Create a ledger ‘Customer’ under ‘Sundry debtors’ and inter ‘state sales tax
number’ in mailing details.
 Create ledger ‘Sales’ and ‘Purchase’ and set yes ‘Use in vat return’.
 Create a ‘CST’ ledger under duties & taxes. Vat tax class-Not applicable and
percentage on calculation-3% on total sales.
 Create a purchase entry from Supplier Laptop 10 pcs @ 30000 and charged
CST 3% issued C-form.
 Create a sales entry to customer Laptop 5 pcs @ 32000 and CST charged 3%
and issued C-Form.
 Create a debit note entry on supplier Laptop 2 pcs @ 30000 and CST charged
3% issued E1-form.
 Create a credit note entry for customer Laptop 1pc @ 32000 and CST charged
3% issued E2-form.

To Display:-

GOT > Display > Statutory Report > CST Report > Form Receivable/Form Issuable.

Job costing is allocation of special resources used in a job like material consumption,
expense and income. The job cost included direct to material cost and expense related
to other cost. All expense and income allocated to the fob to find the total expense,
income and contribution attributed to a job.

To activate job costing press F11 and go to ‘Accounting features’ and activate
following:-

 Maintain Cost center

 Allow invoicing
 Allocated job costing
 Enter purchase invoice format.

Exercise

[email protected]
  Create a ‘sales’ and ‘purchase A/c’ and yes in cost centre applicable.
 Create a cost centre ‘Bag project’ under ‘primary’ and set yes on use for job
costing.
 Create a voucher type ‘Job issue’ in stock journal voucher and set yes on use
class for costing consumption.
 Create a godown ‘Alif Ablicator’ under Godown and select cost centre ‘bag
project’.
 Create a supplier ‘Rohit hardware’ under ‘sundry creditors’.
 Create following items:-

Items Under unit

Leather Bag stock Feet (‘)
Gum ,, Box (b)
Thread ,, Rill (rl)
 Alter the ‘Warehouse’ and set cost center as ‘Bag project’.
 Create a purchase entry from Rohit hardware Leather 100 feet @ 200, Gum
25 box @ 20 and Thread 20 rill @ 10 stored in warehouse.
 Create a stock journal entry with voucher class ‘job issue’ for transfer of
material from warehouse to Alif ablicator (Destination) Leather 80 feet, Gum
15 box and Thread 10 rill.
 Create a voucher type ‘Manufacturing’ under ‘Stock journal’ and set yes in
‘use as a manufacturing’.
 Create a manufacturing (Stock journal) entry Name of product ‘Leather bag’
godown ‘Alif ablicator’ and quantity 100 pcs. Item used leather 70 feet, gum
14 box, thread 8 rill and labor charge 20% and other charge Rs.200.
 Alter the ‘Stock journal’ voucher type and set voucher class as ‘transfer’. And
set yes in ‘use class for enter godown transfer’.
 Create another stock transfer entry leather 10 feet, gum 1 box and thread 2
rill from Alif ablicator to warehouse (Destination).
 Enter the stock transfer leather bag 100 pcs from godown Alif ablicator to
warehouse (Destination).
 Enter another stock transfer entry for return of 5 pcs leather bag to Alif
ablicator (Destination) from warehouse.
 Enter again a transfer entry Leather bag 5 pcs from Alif ablicator to
warehouse (Destination).

[email protected]
  Create a sale entry Leather bag 50 pcs for cash@ 250 from warehouse and
cost center ‘Bag project’.
 Create journal entry for Labor charge Rs.2000.
Labor charge A/c Dr 2000
To Labor A/c 2000

 Create ledger ‘Alif ablicator’ under ‘Sundry debtors’.

 Make a payment entry to Alif ablicator Rs.1500.
Alif ablicator A/c Dr 1500
To Cash A/c 1500

Display the Job costing:-

GOT > Display > Statement of Account > Job work analysis.

It details with payment of wages and salaries to employee, a topical wages report
detailed information about basic pay, DA (Dearness Allowance) and other allowance,
bonus, deduction on account of taxes and other charges system report wages will be
overtime payment.

To activate payroll press F11 and go to ‘Accounting feature’ and set yes on
following:

 Maintain payroll
 Maintain cost centre
 More than one payroll cost category.
 Payhead: Payhead are the ledger account head which are affected by payment
voucher, payhead groups are payment account.
 Employee head: We can create employee with the help of this option with the
details of employee name, date of joining, etc.

Exercise

 Create a payhead ‘Basic salary’ payhead type ‘earning for employee’ under
‘Direct expense’ and calculation type ‘As user computed value’.
 Create in payheads:-

[email protected]
 a) ‘DA (Dearness allowance)’ under indirect expense, payhead type
‘earning for employee’ and calculation type ‘as user defined value’.
b) ‘HA (Housing allowance)’ under ‘Indirect expense’, calculation type
‘as user defined value’.
c) ‘MA’ under ‘Indirect expense’, calculation type ‘as user defined
value’.
 Create in payhead ‘EPF (Earning provident fund)’ under ‘current liabilities’,
payhead type ‘deduction for employee’ calculation type as user computed
value’ @ 12% Rs.10000.
 Create employees:-
Name Designation Work DOB
Ram Officer Official 01-04-1990
Mohan Manager Management 02-02-1996
Sohan Clerk Accounting 10-11-1996
NOTE: Date of birth must be above the 10 years.
To create employee: GOT > Payroll info > Employee > Create.
 Create a payroll voucher entry –

Primary cost category:

Ram Basic Salary 10000/-
,, DA 8000/-
,, HA 1500/-
,, MA 1000/-
,, EPF 1200/-

Mohan Basic Salary 12000/-

,, DA 9000/-
,, HA 2000/-
,, MA 1500/-
,, EPF 1800/-

Sohan Basic Salary 8000/-

,, DA 6000/-
,, HA 1000/-
,, MA 800/-
,, EPF 1000/-

[email protected]
Tally provide two types of attendance-

(i) Attendance unit

(ii) Attendance type head

( i.) Attendance unit:- Payment is computed on daily, weeks, months date to specify
the pay rate first you should create the unit of attendance or record in days.

( ii.) Attendance type head:- You should create attendance type head for paid
attendance leave as requirement.

Exercise
 Create an attendance unit ‘Day’.
 Create an ‘attendance’ under ‘primary’, attendance type ‘attendance leave
with pay’ and period type ‘days’.
 Create an attendance type ‘casual leave’ under ‘paid leave’.
 Create an attendance ‘paid leave’ under ‘paid attendance’.
 Alter the ‘basic salary’ and set calculation type ‘on attendance’.
 Create attendance entry for details are attendance 25 days, casual leave 2
days and weekly help 4 days.(Ctrl+F5)

To Display Attendance Report:-

GOT > Display > Payroll report > Attendance sheet > Attendance register.

# Overtime: Over time work and payment is applicable have to create head for over
time and also unit of required. This is simple way to consumption to enter overtime
hour.

# Bonus: Bonus is an extra payment of a certain normally yearly and it is paid separately.

Exercise
 Create an attendance head ‘Overtime’ under ‘primary’, attendance type
‘Attendance leave with pay’.

[email protected]
  Create a payhead ‘Overtime’ under ‘indirect expense’ calculation type ‘on
attendance’ calculation period ‘month’, calculation type ‘as user defined’
month 26 days for 2 days.
 Create a ‘bonus’ payhead under ‘indirect expense’ calculation type ‘as
computed value’, amount up to 10000/-, 8% and above 10000 10%.

All the remaining exercises will be after this page………………..

P.T.O

[email protected]
 Exercise 1

Date Statement/Particulars Amount Entry

01/04/2017 Siyaram started Business with Cash 50,000/- F6
02/04/2017 Purchased goods from cash 20,000/- F9
04/04/2017 Purchased goods from Subhash 12,000/- F9
05/04/2017 Purchased furniture for cash 6000/- F5
07/04/2017 Sold goods for cash 13,000/- F8
09/04/2017 Sold goods to Mahesh 15,000/- F8
10/04/2017 Paid cash to Suresh 8000/- F5
12/04/2017 Received cash from Mahesh 10,000/- F6
16/04/2017 Purchased goods from Ravi for cash 7500/- F9
17/04/2017 Purchased goods from Ravi 5000/- F9
18/04/2017 Sold goods to Suresh 12,600/- F8
20/04/2017 Sold goods from Suresh 7000/- F8
24/04/2017 Withdraw cash from Bank 2500/- F4
27/04/2017 Paid rent 1000/- F5
28/04/2017 Paid wages 500/- F5
29/04/2017 Paid salary 5000/- F5
30/04/2017 Received commission 500/- F6
01/05/2017 Paid cash to Mahesh 9600/- F5
And Discount allowed by him 400/-
05/05/2017 Received cash from Arun 4900/- F6
And Discount allowed to him 100/-
10/05/2017 Goods sold to Mahesh 30,000/- F8
12/05/2017 Mahesh return goods 2000/- Ctrl+F8
14/05/2017 Received cash from Mahesh 27,500/- F6
And Discount allowed to him 500/-
15/05/2017 Sold goods to Gopal at list price 60,000/- F8
TD (Trade Discount) 15%
CD (Cash Discount) 5%

[email protected]
 Exercise 2

Date Statement/Particulars Amount Entry

01/06/2017 Started business with cash 1,00,000/- F6
02/06/2017 Purchased cash 48,000/- F9
05/06/2017 Sold goods to Vashudev 10,000/- F8
06/06/2017 Return goods by Vashudev 1000/- Ctrl+F8
07/06/2017 Received cash from Vashudev 8800/- F6
Discount allowed to him 200/-
09/06/2017 Chandrakanta sold goods to us 20,000/- F9
10/06/2017 Pritam purchased goods from us 12,000/- F8
12/06/2017 Paid insurance premium 1000/- F5
14/06/2017 Paid cash to Chandrakanta 13,780 F5
Discount allowed by him 220/-
18/06/2017 Brought goods from Pawan 20,000/- F9
TD (Trade Discount) 20%
CD (Cash Discount) 4%
20/06/2017 Paid cash to Pawan 5000/- F5
21/06/2017 Received cash from Pritam 6000/- F6
22/06/2017 Paid wages 500/- F5
Paid Advertisment 250
Paid Salary 5000/-
28/06/2017 Received interest 1000/- F6
30/06/2017 Received comission 500/- F6

[email protected]
 Exercise 3

Date Statement/Particulars Amount Entry

01/05/2017 Paid into bank for opening current A/c 50,000/- F4
02/05/2017 Purchased goods and paid by cheque 50,000/- F4
05/05/2017 Cash sales 40,000/- F4
And deposit into bank 30,000/-
10/05/2017 Withdraw for private use 5000/- F7
12/05/2017 Withdraw for private use from bank 5000/- F5
20/05/2017 Received a cheque and deposit into 10,000/- F4
Bank same day

Exercise 4

Sl.No Statement/Particulars Amount Entry

01. Purchase goods for cash 25,000/- F9
And paid carriage charge on it 200/-
02. Purchased goods from Sudhir on credit 40,000/- F9
And paid carriage charge these goods 500/-
03. Purchased machinery for 20,000/- F9
, spend on its carriage 500/-
And pay on installation 300/-
04. Sold 1/3rd of the goods at a profit of 20% F8
Goods costing is 30,000/-
05. Goods costing is - 12,000/- F8
And sold to Mr. Azad at 25% above cost loss
10% CD.
06 Provide 20% depreciation on furniture costing 10,000/- F7
, gave charity cash 500/- F5
And goods 2000/-

[email protected]
 Exercise 5 (Vat)

Sl.No Statement/Particulars Amount Entry

01. Purchase goods from Deepak 30,000/- F9
And paid vat on it 20%
02. Sold goods to Ramu 50,000/- F8
And received vat 10%
03. Purchased goods for cash 20,000/- F5
And paid vat on it 10%
04. Sold goods for cash 50,000/- F8
And received vat 20%
05. Paid vat to government F4

[email protected]
 Stock items under stock group “computer”
Sl.No Item name Cost of Wareside Onside Total Retail Value
Price Price
1. CPU 7000 4 1 5 pcs 8000 40000
2. Keyboard 200 15 5 20 pcs 300 6000
3. Mouse 300 10 5 15 pcs 350 5250
4. Printer 1300 4 1 5 pcs 15000 75000
5. Speaker 1000 3 1 4 pcs 1500 6000
Stock items under stock group “cloth”

Sl.No Item name Cost of Wareside Onside Total Retail Value

Price Price
1. Shirt 1000 8 2 10 pcs 1500 15000
2. Pant 800 6 2 8 pcs 1000 8000
3. T-shirt 500 10 2 12 pcs 600 7200
Stock items under stock group “Mobile”

Sl.No Item name Cost of Wareside Onside Total Retail Value

Price Price
1. Samsung 10000 8 2 10 pcs 12000 120000
2. Oppo 10500 4 1 5 pcs 12000 60000
3. Macromax 6000 3 1 4 pcs 7000 28000
Stock items under stock group “Food”

Sl.No Item name Cost of Wareside Onside Total Retail Value

Price Price
1. Biscuit 20 100 pkt 50 pkt 150 pkt 30 4500
2. Tea 15 20 pkt 5 pkt 25 pkt 20 500
3. Bread 80 75 pkt 25 pkt 100 pkt 90 9000
4. Rice 100 150 kg 50 kg 200 kg 120 24000
5. Pulse 50 60 kg 20 kg 80 kg 70 5600

Stock items under stock group “Stationary”

[email protected]
Sl.No Item name Cost of Wareside Onside Total Retail Value
Price Price
1. Notebook 15 15 5 20 pcs 20 400
2. Eraser 100 8 2 10 b 150 1500
3. Pencil 150 15 5 20 b 200 4000
Stock items under stock group “Medicine”

Sl.No Item name Cost of Wareside Onside Total Retail Value

Price Price
1. Crocin 400 15 5 20 b 500 10000
2. Sumo 1000 21 4 25 b 1200 30000
3. Disprin 500 8 2 10 b 700 7000
4. Taxim-O 1500 7 3 10 b 2000 20000
Stock items under stock group “Fruit”

Sl.No Item name Cost of Wareside Onside Total Retail Value

Price Price
1. Apple 100 100 kg 20 kg 120 kg 120 14400
2. Banana 25 40 dz 10 dz 50 dz 30 1500
3. Litchi 120 60 kg 20 kg 80 kg 150 12000
4. Papaya 80 50 kg 20 kg 70 kg 100 7000
Stock items under stock group “Play”

Sl.No Item name Cost of Wareside Onside Total Retail Value

Price Price
1. Ball 50 3 2 5 pcs 60 300
2. Bat 200 10 5 15 pcs 210 3150
3. Ludo 25 3 1 4 pcs 30 120
4. Carom 150 1 1 2 pcs 155 475
5. Chess 50 5 5 10 pcs 60 600

[email protected]
 Exercise 1
 Paid to Lalbabu for travel from Begusarai to Patna Rs.500/- for project.
 Received a consulting fee Rs.1000 from building project.
 Expense 1000 in postage allocated in 50% on road, 30% on building and rest
of 20% on airport.

Exercise 2
 Purchase cement from universal cement Rs.250000/- and equally shared
between road and building. Credit period is 30 days.
 Purchase steel from Tata steel Rs.350000/- and to be used 50000/- on road
and rest of on building. Credit period is 40 days.
 After one month building project sold to chhabra properties Rs.900000/- 10%
amount received immediately and rest after 15 days.
 Next month road was completed and sold to Begusarai city authority
Rs.1500000/- received 25% after 7 days and rest of 30 days.

Exercise 3
 Create the items under stock group ‘Building material-
 Cement –unit ‘bag’
 Steel – unit ‘ton’
 After the ‘project sales’ & ‘project purchase’ and set yes to ‘Inventory value
are affected’.
 Purchase cement from universal cement Rs.40000/- 100 bags @ 400 and
equally shared between road & building. Credit period is 20 days.
 Purchase 10 ton steel from Tata steel @ 8000 and equally shared with road &
building. Credit period is 15 days.
 One month later building project sold to Chhabra properties at Rs.500000/-
and credit period is 20 days.
 Next day building project sold to Begusarai city authority Rs.750000/-. Credit
period is 40 days.

[email protected]