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Definition Of Accounts :- The individual record of Person, Firm, Asset, abilities, Expenses or Income is called as Account. Book Keeping :- Book Keeping means maintaining the record of business transaction in a systematic manner. Transaction :- An exchange of money or moneys worth between two parties is called a transaction. Type of Transaction 1. Cash Transaction 2. Credit Transaction Objective Of Book Keeping :- To know the profit or loss of business during a particular period. To know the capital invested in the business on any particular day. To know the total assets and liabilities of the business on a particular date. To know the total debtors and creditors of the business. To find out the total incomes and total expenditure of the business.

Manual System

Journal Book :- It is a book of accounts where the transactions are recorded for the first time. DateParticularsL/FDr. amount Rs. Cr. amount Rs. 02sept.26This column is used to write the name of accounts which get Debit and Credit effect. ( Narration :- Start with Being word) Manual System

Ledger Book :- Ledger contains accounts of several persons, assets, expenses, incomes, profits, etc. A ledger is a book of accounts where the transactions are transferred from the journal book. Dr. Ledger a/c Cr. DateParticularsJ/FAmt Rs. DateParticularsJ/FAmt Rs. Manual System

Trial Balance :- The list or the statement of balances of ledger accounts on a particular date is known as Trial Balance. Sr.NoParticularsL.F.Debit amount Credit amount Trial Balance of xyz company as on 1 st April,2002 Manual System

Trading & Profit & Loss A/c :- It is an account which shows the net Profit / Net Loss of a business for certain period. ParticularsRs.ParticularsRs. All Expenses & Losses Net profit a/c XX All Income & Gains Net Loss a/cXX Trading & Profit & Loss A/C For the year ended 31 st March 2003 Manual System

Balance Sheet :- The Balance Sheet is a statement showing the financial position of the business as on a particular day. Financial Position means the details of the different assets & liabilities. LiabilitiesAssets Current Liabilities Reserve & Surplus Bank OD Unsecured Loan Sundry Creditors Outstanding Fixed Assets Investment Current Assets Stock Bank A/c Sundry Debtors Balance Sheet As on 31 st March 2003 Manual System

Types of Accounts Personal AccountsImpersonal Accounts Real Accounts Nominal Accounts

Personal A/c :- The type Personal Account includes the accounts of individuals, banks, partnership firms, companies, etc. The Principle of Personal Account is as follows :- DEBIT THE RECEIVER, AND CREDIT THE GIVER. She is the Receiver He is the giver

Real Account :- The type Real account includes the account of assets, properties, goods and cash. The principle of Real Account is as follows :- DEBIT WHAT COMES IN CREDIT WHAT GOES OUT. Purchase Transaction :- Comes in Goes out

Nominal Account :- Nominal account includes the accounts of all expenses and losses, incomes, and gains. The principle of Nominal Account is as follows :- DEBIT ALL EXPENSES AND LOSSES CREDIT ALL INCOMES AND GAINS (PROFITS) Loss Profit

Inventory :- Available stock at Factory site. Types of Inventory :- * Raw Inventory * Processing Inventory * Finished Inventory Procedure of Inventory Control : Sales Sales Order – Delivery Note – Rejection In – Sales Invoice – Sales Voucher – Receipt Voucher Purchase Purchase Order – Receipt Note – Rejection Out – Purchase Invoice – Purchase Voucher – Payment Voucher

Accounting vouchers

Purchase Voucher :- Shortcut Key (F9) Purchase Voucher DescriptionRecords all Credit & Cash purchases Voucher EntryAccountAmount Suppliers ledger account ( Sundry Creditors ) Credit Purchases ( Purchase A/C) Sales Tax on purchases Debit

Payment Voucher Shortcut Key (F5) Payment Voucher DescriptionRecords all bank and cash payments Voucher EntryAccountAmount ledger account ( Sundry Creditors) Debit Bank or cash account,Credit

Sales Voucher Shortcut Key (F8) Sales Voucher DescriptionRecords all credit & Cash sales Voucher EntryAccountAmount Buyers ledger account ( Sundry Debtors ) Debit Sales ( Sales Accounts) Sales Tax Credit

Receipt Voucher Shortcut Key (F6) Receipt Voucher DescriptionRecords all receipts into bank or cash accounts Voucher EntryAccountAmount Ledger account receiving, (Indirect Incomes) Credit Bank or Cash accountDebit

Contra Voucher Shortcut Key (F4) Contra Voucher DescriptionRecords funds transfer between cash and bank accounts Voucher EntryAccountAmount E.g. Bank-Bank Account (Bank Accounts) Credit E.g. Petty Cash (Cash-in-hand) Debit

Journal Voucher Shortcut Key (F7) Journal Voucher DescriptionRecords all adjustments between ledger accounts Voucher EntryAccountAmount E.g. Advertising ( Indirect Expenses ) Debit E.g. Office Costs ( Indirect Expenses ) Credit

Inventory Vouchers

Delivery Note DescriptionRecords Delivery stock Details recorded Ref., ledger a/c, suppliers name & Address, order details, name of stock item, stock Godown, Qty, Rate, Amount. Delivery Note Shortcut Key (Alt+F8)

Rejections In Shortcut Key (Ctrl+F6) Rejections In (Sales Returns) DescriptionRecords rejected stock details received from customers Details recorded Ref., ledger a/c, suppliers name & Address, order details, name of stock item, stock Godown, Qty, Rate, Amount.

Receipt Note :- Shortcut Key (Alt+F9) Rejections Out :- Shortcut Key (Alt+F6) Receipt Note DescriptionRecords receipt of new stock from suppliers Details recorded Ref., ledger a/c, suppliers name & Address, order details, name of stock item, stock Godown, Qty, Rate, Amount. Rejections Out (Purchase Returns) DescriptionRecords rejected stock details returned to suppliers Details recorded Ref., ledger a/c, suppliers name & Address, order details, name of stock item, stock Godown, Qty, Rate, Amount.

Physical Stock :- Shortcut Key (Alt+F10) Stock Journal :- Shortcut Key(Alt+F7) Physical Stock Voucher DescriptionRecords the physical stock count as the new stock balance Details recorded Name of stock item, Godown, Qty. Stock Journal Voucher DescriptionEssentially records the transfer of stock from one Godown to another Details recorded Names of from and to Godowns, name of stock item, Qty, Rate, Amount, Narration

Accounting vouchers

Debit Note Voucher :- Shortcut Key (Ctrl + F9) Debit Note Voucher DescriptionRecords Debit note entry for purchase returns or overcharging by a supplier Voucher Entry AccountAmount Suppliers a/cDebit Purchases ReturnsCredit

Credit Note Voucher :- Shortcut Key ( Ctrl+F8) Credit Note Voucher DescriptionRecords Credit note entry for sales returns or customer overcharging Voucher EntryAccountAmount Sales ReturnsDebit Customer A/cCredit

Reversing Journal Voucher :- Shortcut Key (F10) Reversing Journal Voucher DescriptionRecords the voucher entries in a Reversing Journal Register, without affecting the ledger accounts and financial statements Voucher EntryAccountAmount ledger accountDebit ledger accountCredit Reversing Journals are used for the purpose of Scenario Management reporting. Detailed explanation is available on in Volume Two.

This is a non-accounting voucher and the entries made using it will not affect your accounts. That is, Tally does not post these entries to ledgers but stores them in a separate Memo Register. Memo Voucher DescriptionRecords the voucher entries in a Memo Register, without affecting the ledger accounts and financial statements Voucher EntryAccountAmount ledger accountDebit ledger accountCredit Memo Voucher :- Shortcut Key(F10)

Optional Voucher :- This is another non-accounting voucher. However, it differs from the Memo voucher in two respects : Firstly, it is not a voucher type, all other voucher types can be marked Optional during voucher entry. Secondly, you have the option to bring this voucher into your accounts Temporarily and see its effect on financial reports. Optional Voucher DescriptionRecords the voucher entries temporarily, to help visualise the effect on reports, without affectiong the ledger Voucher EntryAccountAmount ledger accountDebit ledger accountCredit

Sales Order Purchase Order Inventory Voucher

Sales Order :- Shortcut Key(Alt+F4) Sales Order DescriptionRecords Placing an order of new stock to Customers Details recorded Ref., ledger a/c, suppliers name & Address, order details, name of stock item, stock Godown, Qty, Rate, Amount.

Purchase Order :- Shortcut Key (Alt+F4) Purchase Order DescriptionRecords Placing an order of new stock to suppliers Details recorded Ref., ledger a/c, suppliers name & Address, order details, name of stock item, stock Godown, Qty, Rate, Amount.