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List of Transactions-Wholeseller @ Tally.ERP 9 [ APRIL 2013 ]
Transactions No . 9 to 12A
 

SNo.

DATE

TRANSACTIONS

9 )

22-4-2013

Mr. Rai paid Carriage Inword Expenses of ` 500 in cash on purchases made on 20-04-2013 and 21-04-2013

 

i.        Create Ledger 'Carriage Inword Expenses' ( Under Direct Expenses)

 

 

ii.       Make an entry of the transaction in a Payment Voucher

 
 
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SNo.

DATE

TRANSACTIONS

10 )

27-4-2013

Mr. Rai transferred ` 10,000 to Petty Cash from Cash to meet the day to day expenses.

As per Tally conventions

i.        Create ledgers “ Petty Cash”  (under Cash-In-Hand)

 

 

ii.       Make an entry of the transaction in a Contra Voucher

 

Go to Gateway of Tally> Accounting Vouchers > F4: Contra

 

 

 
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SNo.

DATE

TRANSACTIONS

11 )

28-4-2013

Mr. Rai withdrew Rs.5,000 in cash for personal use.

 

i. Create ledger 'Anurag Rai Drawings' (under Capital Account).

 


ii. Make an entry of the transaction in a Payment voucher - F:5

 
 
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SNo.

DATE

TRANSACTIONS

12 )

30-4-2013

VAT adjustment entry.

 

Note:

According to the guidance note on Accounting for State-level Value Added Tax issued by Institute of Chartered Accountants of India (ICAI), the amount of tax paid on purchase of inputs/supplies and available for VAT credit should be debited to a separate account and this should not be included in the cost of purchase. As and when VAT credit is actually utilised against VAT payable on sales, appropriate VAT accounting entries are required to record the adjustment. For example, in Karnataka a dealer is required to pay VAT and file VAT returns on a monthly basis. Hence, the VAT adjustment entry is recorded at the end of every month. To record the adjustment, input and output VAT tax accounts are credited and debited, respectively to nullify their balances and the net balance is transferred to VAT adjustment account. A debit balance of VAT adjustment account indicates that the excess input credit is being car- fled 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 AdjustmentA/c

Dr.

Rs. 23,500

To

Input VAT @ 12.5%

Cr.

Rs.12,500

To

Input VAT@ 4%

Cr.

Rs.11,000

 

 

i. Create ledger VAT Adjustment A/c (under Duties and Taxes)

 
Go to Gateway of Tally > Accounts Info > Ledger> Create to view the ledger creation screen.


1. Name: VAT Adjustment A/c.
2. Under: Duties and Taxes.
3. Type of Duty/Tax: Select VAT from Types of Duty/Tax list.
4. VATITax Class: Not Applicable.
5. Inventory values are affected?: No.
6. Accept? Yes or No? — Press Y or Enter.


Note:
Since the VAT/Tax Class is not applicable the percentage of calculation automatically appears as 0. The method of calculation automatically is set to ‘On VAT Rate’ when VAT is selected as the type of duty/tax.

 


ii. Make an entry of the transaction in a Journal voucher.


To know the tax amount that is to be adjusted, go to Gateway of Tally> Display> Statutory  Reports > VAT Reports > VAT Computation

 
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SNo.

DATE

TRANSACTIONS

12-A )

30-4-2013

Salary for the Month of April 2013 is Due as follows...

Name
Designation
Monthly Salary
Rahul Bhatt Sales Executive Rs. 4000
Jairam Sengupta Salesman Rs. 3500
Shishir Mathur Accountant Rs. 2500
Ajith V Nair Clerk Rs. 1500
 
i . Create a Group " Staff " Under Loan & Advanced ( Asset)
 
 
ii . Create a the following Ledger Under Group " Staff " [ Multiple Ledger Creation]
Name
Rahul Bhatt
Jairam Sengupta
Shishir Mathur
Ajith V Nair
 

 
iii. Create ledger 'Salary Expenses' (under Indirect Expenses)


Note:
Set the field Cost Centres are applicable? to Yes at the time of salary expenses ledger creation.

 

 
iv. Make an entry of the transaction in a Journal voucher ( F7:) as follows...
 
EditReg
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Tally.ERP9 Report
  1. Unit Objectives
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Tally.ERP9 MIS and Other Reports
Q-Base [ F.A.Q.]
Question Base [F.A.Q.]- Centreal Sales Tax (CST) @ Tally.ERP 9
Question Base [F.A.Q.] on EXCISE for DEALER @ Tally.ERP 9
Question Base - EXCISE for MANUFACTURER @ Tally.ERP 9
Question Base [F.A.Q.]- 'JOB Costing' @ Tally.ERP 9
Question Base - PAY-ROLL @ Tally.ERP 9
Question Base [F.A.Q.]- Point Of Sale (POS) @ Tally.ERP 9
Question Base [F.A.Q.]- Service TAX @ Tally.ERP 9
Question Base [F.A.Q.]- Technology & Utility @ Tally.ERP 9
Question Base [F.A.Q.]- Value Added Tax (VAT) @ Tally.ERP9
 
Reports @ Tally.ERP 9
 
 
 
 
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