Introduction of Vouchers
Tally-Prime
·
Basic Rule for Accounting (Help in Journal Entry)
|
ACCOUNTS |
|
Personal |
|
Real |
|
Impersonal |
|
Nominal (Revenue or Expenses) |
·
Firm purchase goods from Ram Narayan
à (Ram Narayan is sundry creditor) Which Receive amount of purchase
goods
·
Firm sold good to Divakar
à (Divakar is a sundry debtor) who pay Amount to the firm
Ü IMPERSONAL
ACCOUNT– Accounts that are not personally
such as machinery Account, Cash Account, rent, etc. These can be divided further into two accounts
ð Real Account –Real Account which relates to tangible or intangible
assets of the firm.
Tangible e.g. - Land & Building, Stock, Cash, etc.
Intangible e.g. - Goodwill,
Trademark, Patents
ð Nominal Account- Account which relates to Expenses, Loss, Gain, Revenue, etc. These are salary Account, interest paid, Commission received,s, etc
ð Real Account –Real Account which relates to tangible or intangible
assets of the firm.
ð Nominal Account- Account which relates to Expenses, Loss, Gain, Revenue, etc. These are salary Account, interest paid, Commission receives, etc.
Ø Rules
For Debit and Credit
|
Types of accounts |
Rules of debit |
Rules of credit |
|
(a)
For Personal Accounts
|
Debit the Receiver (Sales)
|
Credit the Giver (Purchase)
|
|
(b) For
Real Account |
Debit what comes in |
Credit what goes out |
|
(c) For
Nominal Account |
Debit all expenses and losses |
Credit all gains and income |
.
Ø Journal Entry and Types of Voucher
Journal Entry is where two or more than the account is treated as Dr. (By) and Cr. (To).
VOUCHER #1
§
CONTRA (F4)
The entry is related to company self-transaction. There is no
payment or received comes in Contra voucher. Here is some example of contra
voucher.
Ex-1
Paid
cash into bank / Deposit into bank/ cash sent to the bank
Bank A/c Dr.
Cash A/c Cr.
Ex-2
Withdraw
from Bank / Withdraw from Bank for Office use / Cash drawn from Bank.
Cash A/c Dr.
Bank A/c Cr.
VOUCHER #2
§
Payment (F5)
The entry which is related to Payment of any amount (cash or by Cheque)
comes under this voucher.
Example-1
Paid
cash to Kapil / Issue cash in favor of Kapil
Kapil A/c Dr.
Cash A/c Cr.
Noteà (Kapil
is creditor(लेनदार)who received the money from the
company side and cash amount decrease in company current cash balance)
Example-2
Paid
Rent / Paid Salary / Paid Electric Bill / Paid Wages (Any
Exp. Direct/Indirect)
Rent A/c Dr.
Cash A/c Cr.
Note
Ã
If Payment made by Cheque, We put Bank A/c in Place of Cash A/c, because the
deduction from the bank side when payment mode is Cheque)
Example-3
Purchase
goods by Cheque
Purchase A/c Dr.
Bank A/c Cr.
Note
Ã
if the Product/Item name shows with the purchase then we put the name of an item otherwise in
goods purchase we only place (Purchase A/c Dr.)
Example-4
Withdraw
from Bank for Personal or Private Use.
Drawing A/c Dr.
Bank A/c Cr.
Note
à when
withdraw Amount for personal or private use, this amount is decreased from the
available capital A/c so we place Drawing A/c in Dr. Side when withdrawing for
personal or private use.
VOUCHER #3
§
Receipt (F6)
The entry which is related to Receive any amount (cash or by Cheque)
comes under this voucher.
Example-1
Mr.
X commenced business with cash / Mr. X started Business with cash
Cash A/c Dr.
Capital A/c Cr.
Note
Ã
when the owner invest the amount in start business
we pass as capital in Voucher and after invest capital in the business
cash A/C balance is available for other transaction e.g. Purchase goods or Pay
any Expenses)
Example-2
Received
cash from Sunil
Cash A/c Dr.
Sunil A/c Cr.
Noteà (Sunil is Debtor(देनदार)who paid the money to the company A/c and cash amount increase
in company current cash balance or bank balance
(If received by Cheque))
Example-3
Received
Commission by Cheque / Interest received on Bank Balance.
Bank A/c Dr.
Commission Rec A/c Cr.
(Or)
Bank A/c Dr.
Interest Rec A/c Cr.
Example-4
Received
cash for Product sold / cash Sales / Sold goods for cash
Cash A/c Dr.
Sales A/c Cr.