Short Tally Notes

Prepared by: Hassan Iqbal

Contra Account :( F4) The entries when cash is debited and bank is credited or vice versa will be entered in contra account. Payment (F5) All the payments concerned entries will be entered in this account. Receipt (F6) All the receipt related entries well be passed here. Journal (F7) All those transaction for which there is no specific voucher is available will be placed in journal voucher.e.g adjusting entries. Sales Voucher (F8) All those transaction will be passed in sales voucher in which we sales goods on credit, and cash sale will be in receipt voucher. Credit Note (CTRL+F8) All the Sale return related transactions will be passed in it. Purchases (F9) All the goods that are purchased on credit bases will be passed in purchase voucher. Debit Note :( CTRL+F9) Entries of purchased return will be passed in debit note voucher.

Lecture No. 2 Name of the account: HBL Capital Commercial Capital Commercial Sundry Debtors Sundry Debtors Sundry Creditor Fixed Asset Purchases Purchase Direct Exp. Direct Exp. Indirect Exp. Indirect Exp. Sale Sale Indirect income

MCB A/R Acc.Receivable Acc.payable Furniture Purchases Purchase return Wages Carriage inward Salaries Insurance Sale Sale Return Interest Received

In purchases produces cannot be quoted first because if it produces account so we name to enter cash first and purchases under it. The term to be for credit by for is debit. In Credit sales we have to select stock in particulars and if we are not maintaining stock then we have to select sales again. Groups are auto in tally we just have to create ledgers. Stocking in Tally (1) Can quantities of items be added (yes). (2) Unit of Measurement

Type Symbol Formal name

Simple Each Unit

No. of decimals No Tax information opening stock 0 Activate debit Credit Note: F11 = Features Accounting Features Use of debit Credit Note yes. Payroll Activation Go to features and active payroll Employee Groups Admin H.R etc. Pay Head Basic. Salary House rent allowance Medical allowance etc... Name: Basic Salary Pay Head type: Earning any type Go to groups creating a group of salary account under indirect expense. Affect Net salary: yes

Basic salary; No Flat Rates Months Not applicable Name: HR Next Medical Allowance etc. Name: Tax deduction from employer Under Current Liabilities. Maintain Employees Simply under representative groups H.R Admin etc. Entry of Payroll Payroll voucher: Cash M.Ahmad Basic salary H.R Allowance Medical Allowance 115000 5000 4000 3000 500

Because payroll voucher is also like a payment voucher, so the entry will be like the mentioned above. Detailed( Alt+1) When we click it our balance sheet will shown a detailed view

Trail Balance Display -----Trail Balance

Day book is Journal in tally Ledger Vouchers Ledger Vouchers are the ledger of tally