Tally Notes

TALLY NOTES Golden Rules 1) Debit the receiver & Credit the giver 2) Debit what comes in & Credit what goes out 3) Debit all expenses/losses & Credit all profits/gains Ledger Creation in Tally In tally all versions we have two ledgers permanently 1. Cash A/c 2. Profit & Loss A/c If you wanna create other ledgers you can be used Gateway of Tally – Masters - Account Info. – Ledgers – Create Other ledgers (For Example) Ledger Group Purchase Purchase A/c Purchase Return Purchase A/c Sales Sales A/c Sales Return Sales A/c Capital Capital A/c Drawings (For personal use) Capital A/c Bank Bank A/c Bank overdraft Bank O/D A/c Furniture Fixed Assets Building Fixed Assets Plant Fixed Assets Machinery Fixed Assets Land Fixed Assets Motor Car Fixed Assets Tools Fixed Assets Payment Salary Rent Commission Interest Telephone Bills Electricity Bills Bank Charges Receipt Rent Received Commission Received

Indirect Expenses Indirect Expenses Indirect Expenses Indirect Expenses Indirect Expenses Indirect Expenses Indirect Expenses Indirect Incomes Indirect Incomes

Interest Received Commission Received

Indirect Incomes Indirect Incomes

Accounting Voucher Gateway of Tally → Accounting Voucher F4 Contra Voucher 1) Cash deposited into Bank Bank A/c Dr. To Cash A/c 2) Cash withdraw from Bank Cash A/c Dr. To Bank A/c 3) Cash transfer Bank to Bank Bank A/c Dr. To Bank A/c F5 Payment Voucher 1) If you pay Expenses amount by Cash/Cheque Expenses A/c Dr. To Cash/Bank A/c 2) If you purchase assets for business use & payment by Cash/Cheque Assets A/c Dr. To Cash/Bank A/c If you cash withdraw from Business/Bank for personal use Drawing A/c Dr. To Cash/Bank A/c 3) If you pay to Business Creditors by Cash/Cheque Creditors A/c Dr. To Cash/Bank A/c F6 Receipt Voucher

1) If y 2) ou Cash Taken in business for business use Cash/Bank .Dr. To Capital A/c 3) If you loan taken in business for business use Cash/Bank A/c Dr. To Loan A/c 4) If you received Incomes by cash/cheque Cash/Bank A/c Dr. To Incomes A/c 5) If you sale Assets & Payment received by Cash/Cheque Cash/Bank A/c Dr. To assets A/c 6) If you received Cash/Cheque from Business Debtors Cash/Bank A/c Dr. To Debtors A/c

F7 Journal Voucher 1) Goods loss by fire Loss by fire A/c Dr. To Purchase A/c 2) Goods loss by theft Loss by theft A/c Dr. To Purchase A/c 3) Goods withdraw from business for personal use Drawing A/c Dr. To Purchase A/c 4) Goods donate Charity A/c Dr. To Purchase A/c 5) Goods gave to customer for free sample Advertisement A/c Dr. To Purchase A/c 6) Purchase assets on Credit Base

Assets A/c D r. To Party A/c 7) Assets sale on Credit Base Party A/c Dr. To Assets A/c 8) Depreciation charge on Fixed Assets Depreciation A/c Dr. To Assets A/c 9) If there are Bad-Debts Bad-Debts A/c Dr. To Debtors A/c

F8 Sales -

Sold of goods by Cash/Credit

F9 Purchase -

Purchase of Goods by Cash/Credit