Contents. Part - A. Lesson 1: Basics of Accounting...1

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1 Contents Part - A Lesson 1: Basics of Accounting Introduction Accounting Principles, Concepts and Conventions Revenue Realisation Matching Concept Accrual Going Concern Accounting Period Accounting Entity Money Measurement Double Entry System of Book Keeping Features of Double Entry System of Book Keeping Types of Accounts Real Accounts Personal Accounts Nominal Accounts Rules of Accounting Mode of Accounting Voucher Receipt Invoice or Bill Journals and Ledgers Account Ledger Chart of Accounts Posting Accounting Period Trial Balance Financial Statements Trading Account Profit and Loss Account Balance Sheet Transactions Recording Transactions...10 i

2 Lesson 2: Business Organisations Introduction Forms of Business Organisation Sole Proprietorship Partnership Joint Hindu Family Cooperative society Classification of Business Organisation Service Organisations Trading Organisation Manufacturing Organisation...15 Lesson 3: Accounting on Computers Introduction Computerised Accounting Components of Computerised Accounting Software Need for Computerised Accounting Requirements of a Computerised Accounting System Difference between Manual accounting and Computerised accounting...22 Lesson 4: Tally.ERP 9 Fundamentals Introduction Salient Features of Tally.ERP Technological Advantages Tally.ERP 9 Start-up Mouse/ Keyboard Conventions Switching between Screen Areas Quitting Tally.ERP Setting up a Company in Tally.ERP Creating a Company Altering a Company F11: Company Features F1: Accounting Features F2: Inventory Features F3 : Statutory & Taxation F4: Tally.NET Features F12: Configurations General Configuration Numeric Symbols Accts/ Inventory Configuration Voucher Entry Configuration...47 ii

3 4.6 Setting up Account Heads Chart of Accounts Pre-defined Groups of Accounts Groups and Ledgers Groups Ledgers Voucher Types Predefined Voucher Types in Tally.ERP Accounting Vouchers Contra Voucher Payment Voucher Receipt Voucher Journal Voucher Sales Voucher Purchase Voucher...65 Part - B Lesson 5: Introduction to Trading Organisations Introduction Nature of Trading Organisations Accounting Cycle in Trading Organisations Difference between Trading and Service Organisations Activities in a Trading Organisation Accounting and Commercial Terms Cash and Credit Purchases Cash and Credit Sales Returns / Allowances Purchase Returns Sales Returns Credit Period Trade Discount and Cash Discount Bills of Exchange Price Levels Cost of Goods Available for Sale Cost of Goods Sold Gross Profit Operating Expenses Operating Profit (PBIT)...75 iii

4 Net Profit Meaning of Inventory Types of Inventory Cost of Inventory Costs of Purchase Inventory Valuation FIFO (First In First Out) LIFO (Last in First Out) Weighted Average Cost Standard Cost Inventory Systems Quantity vs Value Records Perpetual Inventory System Periodic Inventory System Determining Inventory Levels...79 Lesson 6: Accounting for Trading Organisations Introduction Setting up a New Company in Tally.ERP Create Company Enabling Value Added Tax (VAT) Recording Transactions for Trading Organisation...87 Lesson 7: Generating & Printing Reports in Tally.ERP iv 7.1 Introduction Financial Statements Balance Sheet Profit and Loss A/c Trial Balance Accounting Books & Registers Cash Book Bank Book Purchase Register Sales Register Journal Register Debit Note Register Credit Note Register Day Book Inventory Books & Reports Stock Summary Stock Item Summary Stock Group Summary...209

5 7.4.4 Batch Vouchers Sales Order Book Purchase Order Book Stock Transfer Register Movement analysis Stock Ageing Analysis Stock Valuation Methods Physical Stock Register Statements of Accounts Bills Receivable Bills Payable Cost Centre Reports Interest Calculation Reports Statistics Statements of Inventory Godown Summary Stock Categories Stock Query Sales Order Outstandings Purchase Order Outstandings Purchase Bills Pending Sales Bills Pending MIS Reports in Tally.ERP Cash Flow Statement Funds Flow Statement Ratio Analysis Budgeting & Controls Scenario Management Bank Reconciliation Statement Exception Reports Printing Reports Display and Print Multi-Account Printing Type of Print Configuration Options Print Format Lesson 8: Generating Statutory Reports in Tally.ERP Introduction Value Added Tax (VAT) Reports VAT Computation VAT Forms evat Returns v

6 8.2.4 VAT Register Central Sales Tax (CST) Reports Forms Receivable Forms Issuable CST Register Tax Deducted at Source (TDS) Reports TDS Computation Report Challan Reconciliation TDS Returns etds Returns TDS Outstandings Reports TDS Exception Reports Part - C Lesson 9: Introduction to Service Organisations Introduction Service Organisations Nature of Service Organisations Activities in Service Organisations Tally.ERP 9 s Capability for Service Organisations Lesson 10: Accounting for Service Organisations Introduction Setting up a New Company in Tally.ERP Create Company Enabling Service Tax Creating Service Masters Recording Transactions for Service Organisation Lesson 11: Generating & Printing Reports in Tally.ERP Introduction Financial Statements Balance Sheet Profit and Loss A/c Trial Balance Accounting Books & Registers Cash Book Bank Book vi

7 Purchase Register Sales Register Journal Register Day Book Statements of Accounts Bills Receivable Bills Payable Statistics MIS Reports in Tally.ERP Cash Flow Statement Fund Flow Statement Ratio Analysis Exception Reports Printing Reports Display and Print Multi-Account Printing Type of Print Configuration Options Lesson 12: Generating Statutory Reports in Tally.ERP Introduction Service Tax Computation Service Tax Payables Bill Date wise Realisation Date wise Input Credit Summary ST - 3 Returns Exception Reports vii

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