1. PRESENTATION OF FINANCIALS (Accounts) IN TALLY CA K P Gobinath B.Sc., FCA, DISA Partner GGA & Associates Chartered Accountants Coimbatore – 641 009 ggaca@rediffmail.com kpgobi@gmail.com

2. FINANCIALS BALANCE SHEET Capital & Liabilities (Sources of Funds) Assets (Application of Funds) PROFIT AND LOSS ACCOUNT. Income Expenditure 2

3. PROFIT AND LOSS A/C. INCOME Sales A/c. Service Income Other Income 3

4. INCOME - SALES VAT Sales (Group Heading) VAT Sales @ 5% A/c. (Ledger Heading) VAT Sales @ 5% Return A/c. VAT Sales @ 14.5% A/c. VAT Sales @ 14.5% Return A/c. VAT Sales (Exempted) A/c. VAT Sales (Ex) Return A/c. 4

5. INCOME - SALES CST Sales (Group Heading) CST Sales @ 2% A/c. (With “C” Form) CST Sales @ 2% Return A/c. CST Sales @ 14.5% A/c. CST Sales @ 14.5% Return A/c. CST Sales (Exempted) A/c. CST Sales (Ex) Return A/c. 5

6. INCOME - SALES SALES – EXPORT (Ledger Heading) SALES – FORM “H” SALES – BRANCH TRFR (FORM “F”) SALES - CONSIGNMENT 6

7. Service Income Labour Charges Service Charges - Rental Income on Machineries - Commission Receipts 7

8. OTHER INCOME Packing and Forwarding Charges Interest Receipts on EB Deposits Interest Receipts on Fixed Deposits (Bank) Interest Receipts on Trade Deposits Rent Receipts on Building Profit on Sales of Fixed Assets Sundry Balances / Excess Provision W/back A/c. Profit on Foreign Exchange Fluctuation 8

9. EXPENDITURE - PURCHASES VAT Purchases @ 5% – VAT Purchases Return @ 5% VAT Purchases @ 14.50% – VAT Purchases Return @ 14.50% Purchases U/s.12 – Purchases U/s.12 Return 9

10. EXPENDITURE - PURCHASES CST Purchases @ 2% – CST Purchases Return @ 2% CST Purchases @ 14.50% – CST Purchases Return @ 14.50%CST CST Purchases @ 5% – CST Purchases Return @ 5%CST 10

11. EXPENDITURE - PURCHASES Purchases - Import Purchases – Branch Transfer in Purchases – Form H 11

12. EXPENDITURE - MANUFACTRUING Power Charges A/c. Labour Charges Paid A/c. Wages Paid A/c. Factory Rent Paid A/c. Freight Charges Paid A/c. Stores and Consumables Testing Charges Paid A/c. (Raw Materials) 12

13. EXPENDITURE - TRADING Freight Inwards Wages & Coolies Paid 13

14. EXPENDITURE – INDIRECT (Group Heading) Staff Salary, Welfare and Other Benefits Administrative Expenses Repairs and Maintenance Interest, Finance and Other Charges Interest on Statutory Dues Selling Expenses Depreciation, Provision and Other A/c. 14

15. Staff Salary, Welfare & Other Benefits Staff Salary A/c – Employee wise Ledger A/c. EPF Employer Contribution A/c. ESI – Employer Contribution A/c. Staff Welfare Expenses A/c. Staff Medical Expenses A/c. Gift Expenses A/c. Remuneration to Managing Director A/c. 15

16. Administrative Expenses Office Rent Paid A/c. Professional Charges Paid A/c. Consulting Charges Paid A/c. Audit Fees A/c. Printing & Stationery A/c. Postages & Couriers A/c. Filing Fees A/c. 16

17. Administrative Expenses Local Conveyances A/c. Telephone Charges A/c. – Telephone No. Wise Sub-Ledger A/c. shall be maintained. Internet Charges A/c. Insurance Charges A/c. Partner’s Remuneration A/c. 17

18. Repairs and Maintenance Building Maintenance A/c. Machinery Maintenance A/c. - Purchases of spares, service charges, AMC charges shall be accounted in this ledger A/c. Computer Maintenance A/c. – Stationery Items purchases for Printing purposes shall be accounted in Printing & Stationery A/c. Vehicle Maintenance A/c. – Vehicle Number Wise shall be maintained Generator Maintenance A/c. 18

19. Interest, Finance & Other Charges Interest on Term Loan – I Interest on Term Loan – II Interest on CC A/c. Interest on Business Loan Finance Charges on Vehicle Loan Bank Charges A/c. Processing Charges A/c. Discounting Charges A/c. Interest on Bills Discounting Charges Interest on Partner’s Capital A/c. 19

20. Interest on Statutory Dues Interest on Excise Duty Interest on Service Tax Interest on TDS Interest on Income Tax Interest on Sales Tax 20

21. Selling Expenses A/c. Advertisement Charges A/c. Business Promotion Expenses Carriage Outwards Discount on Sales A/c. Exhibition Expenses Foreign Exchange Fluctuation – Loss A/c. Packing and Forwarding Expenses Packing Materials 21

22. Selling Expenses A/c. Sundry Balances w/off a/c. Bad Debts w/off A/c. Sales Tax Paid A/c. Service Tax on Freight Outwards A/c. 22

23. Depreciation, Provision & Other A/c. Depreciation A/c. Current Year Income Tax A/c. Earlier Year Income Tax A/c. Provision for Bad Debts 23

24. Balance Sheet Capital A/c. In case Partnership Firm A/c. Partners Capital A/c. X Capital A/c. Y Capital A/c. Partner Current A/c. X Current A/c. Y Current A/c. 24

25. Balance Sheet Capital A/c. - Equity Share Capital A/c. - Share holder wise ledger a/c. shall be maintained Reserves and Surplus A/c. - Profit and Loss A/c. Share Application Money - Party wise ledger a/c. shall be maintained 25

26. Loans Secured Loans – Bank Term Loan – Vehicle Loan Unsecured Loans – Business Term Loan – Party-wise Loan A/c. 26

27. Current Liabilities Bank OD/OCC A/c – Bank OD A/c. – Bank OCC a/c. Duties and Taxes Sundry Creditors 27

28. Duties and Taxes Central Excise A/c. Service Tax A/c. Sales Tax A/c. TDS Payable A/c. PF/ESI Payable A/c. 28

29. Central Excise A/c. 12% Cenvat on Purchases A/c. (RG 23A) 2% Edn. Cess Cenvat - Purchases A/c. 1% Hr. Ed. Cess Cenvat - Purchases A/c. Cenvat on Capital Goods (RG 23C) 2% Edn. Cess Cenvat – Capital Goods 1% Br. Edn. Cess Cenvat – Capital Goods 29

30. Central Excise A/c. 12% Excise Duty A/c. ( Collected on Sales) 2% Ed. Cess A/c. ( Collected on Sales) 1% Hr. Ed. Cess A/c. ( Collected on Sales) Central Excise Payable A/c. Deferred Cenvat Credit on ED A/c. Deferred Cen.Credit on Edn.Cess A/c. Deferred Cen.Credit on Hr.Ed.Cess A/c. 30

31. Service Tax A/c. Service Tax @ 12% 2% Ed.Cess on Service Tax 1% Hr.Ed.Cess on Service Tax – (Collected on Services Charges) Cenvat Credit – Service Tax A/c. 2% Ed. Cess Cen. Credit–Service Tax 1% Hr.Ed.Cess Cen. Credit–Service Tax A/c. Service Tax Payable A/c. 31

32. Sales Tax A/c. ITC on TNVAT @ 5% A/c. ITC on TNVAT @ 14.5% A/c. ITC TNVAT on Capital Goods A/c. TNVAT @ 5% TNVAT @ 14.5% TNVAT Payable (TNVAT Receivable A/c.) 32

33. Sales Tax A/c. CST @ 2% A/c. CST @ 5% A/c. CST @ 14.5% CST Payable A/c. 33

34. TDS Payable A/c. TDS Payable on Salary TDS Payable on Interest TDS Payable on Labour Charges TDS Payable on Commission Paid TDS Payable on Professional Charges TDS Payable on Rent Paid 34

35. ESI / PF A/c. ESI Payable A/c. - Includes Employer’s Contribution, Employee’s Contribution EPF Payable A/c. - Includes Employer’s Contribution, Employee’s Contribution, PF Admin Dues, etc., 35

36. Sundry Creditors Creditors for Purchases – Parties related to PURCHASES of Raw Materials, Trading Goods, other items of purchases Creditors for Expenses – Parties related to Service Charges Creditors for Others – Parties related to other than Purchases & Service Charges Creditors for Capital Expenditure – Parties related to purchases to capital items 36

37. Creditors for Expenses Power Charges Payable Wages Payable Salary Payable Rent Payable Audit Fees Payable 37

38. Provision Provision for Income Tax A/c. Provision for Bonus Provision for Bad Debts w/off Deferred Tax Liability 38

39. Fixed Assets Land A/c. Factory Building A/c. Furniture & Fittings A/c. Office Equipments A/c. Plant and Machinery A/c. Computer A/c. Vehicle A/c. 39

40. Fixed Assets Prov. For Deprn. Building A/c. Prov. For Deprn. Furniture & Fittings A/c. Prov. For Deprn. Office Equipments A/c. Prov. For Deprn. Plant and Machinery A/c. Prov. For Deprn. Computer A/c. Prov. For Deprn. Vehicle A/c. 40

41. Investments Investment in Partnership Firm Investments in Mutual Funds Investment in Equity Shares 41

42. Current Assets Deposits – Trade Deposits – EB Deposits Inventories – Raw materials A/c. – Work in Progress A/c. – Finished Goods A/c. – Stores and Consumables Sundry Debtors Cash at Bank – Balance in Fixed Deposits – Balance in Current A/c. Cash on Hand 42

43. Loans and Advances Tax with Government Authorities – Income Tax A/c. Advance Tax A.Y.2013-14 TDS on Service Charges AY 2013-14 TDS on Professional Charges AY 2013-14 – Central Excise A/c. Cenvat Credit Receivable Deferred Cenvat Credit Receivable PLA – Duty A/c. PLA – Education Cess A/c. PLA – Hr. Education Cess A/c. – Service Tax A/c. Cenvat Credit on Input Services – Sales Tax A/c. TNVAT Receivable Deferred TNVAT Credit Receivable 43

44. Loans and Advances Advances for Machinery Advances for Building Staff Advances Tour Advances Other Advances – Prepaid Expenses – Prepaid Insurances – Chit A/c. – Deferred Tax Asset 44

45. Assets Preliminary Expenses Pre-Operative Expenses Profit and Loss A/c. (Debit) 45

46. 46