certification means producing of information by your father means making signature by your father on the information submitting documents etc.... Transportation of Display materials from dealer shops, Accounting For Changes in Partners in LLP, Repayment of Loan to its Director by Private Limited Company, Filing of 3B and 1 for business which is under RCM, Society related taxation and individual member taxation. Mihir Patel. Tally.ERP 9 Note: ABC Company has ‘XYZ Company’ ledger grouped under ‘Sundry Debtors’ and Finished Goods (Assembled PC) with Bills of Materials and Scraps specified. Out of 28 groups, 15 groups are primary groups and 13 groups are Sub-groups. Indirect Income Group ka Nature kya hota hai. Liability; Assets; Expenses; Income; to aap khud Samajhdar hai aur Dekhke pata laga sakte hai ki is group ka Nature kya hoga Fir Bhi Bata hi Deta hu is Group ka nature Income ka Nature hota hai jo ki is Group ke Naam se Aur Matlab dono se pata chalta hai. Tally software automatically create 28 groups which are used in the chart of account. Tally erp 9 online training , Accounting tutorials -Tallygame, Home » Masters » Create party ledger or Sundry debtors and creditors ledger in tally with gst. Version: Implementation of TDS in Tally.ERP 9/4.0/October 2010 The gst details screen look like similar, select the required option. Purchase a/c - Purchase We have written detailed tutorials on almost all options. 1. > Ledgers > Create. You receive a proprietor firm name so for the receipt of letter year your father is the proprietor means the books regarding such year shall keep with your father so give certification by your father. In Type of Duty/Tax field select tax type as TDS; Select Payment to Sub-Contractors in Nature of Payment field; Press Enter to save; Step 2: Record a Purchase Voucher (Book the Work Contract Purchases) To create Purchase Voucher. Normally assets purchased for re-sale is entered through purchase voucher.For example a car seller purchase cars for re-sale; in this case we enter car as an inventory through purchase voucher. So create a head in tally with the name of that person under the category loans & advances (Asset). : +91-288-2660530/31, +91-9909993317, 9825098442 Email : tally@aaplautomation.com Branch Office Rajkot : 807-Dhanrajni Complex, Nr. Contra 6. Previous. If you want to continue 2 accounts then don't club the accounts on 31-3-2011. In short we can call it ‘debtor’, Debtor is a person or business organisation who owes money to us. SBI Bank, Nr. Please advice me in details. Group it under Purchase Accounts for purchases or Sales Accounts for sales. WHAT WILL BE ENTRIES AND NARRATIONS HOW WILL BE PAYMENTS ADJUSTED. Select Sundry Creditors / Sundry Creditors from the List of Groups in the Under field. Tallygame.com is an educational blog about Tally ERP 9,Accounting ,Finance & Indian Taxation driven by a team of expert and experienced professionals with qualifications and years of Working Experience. Here is the list of ledger head and respected group of ledgers. TDS (Tax Deducted at Source) - Tally.ERP 9 Introduction TDS refers to Tax Deducted at Source . Purchase a/c 4.Sale A/c 5.Harish A/c 6.sumit Loan A/c ledger tally me banenge Under Groups 2.Capital a/c - Capital 3. If you want more classification You can do it by creating sub group under main group. Now enter all the details as follows in the order mentioned below. IF X (DEBTER) BALANCE IS RS 5 LAKH dr Balance on 31-3-2011 & X (CREDITOR) BALANCE IS RS 10 LAKHS CR BALANCE on 31-3-2011. So the rectification entry is as follows. > Ledgers > Create Enter the Name of the Party Ledger e.g. Q6. Step – 1: Gateway of Tally > Inventory Info. Set the option Inventory values are affected? How to create,edit,delete stock category in tally erp 9? Select Duties & Taxes from the List of Groups in the Under field. I would like to tell y I aM a graduate & I am a businessman.I appreciate yr patience,cooperation shown to me. At the end of the financial years the balance of Mr.X is 50 lakhs credit in your books the same shall be carry forward to the next year. 1. Sales 3. Warranty Setup Guide . please clarify indetails.ON 8Th august I purchaesd goods OF Rs200000/ from Party X and sold on same day other item of goods Rs 250000/ To x.This way purchase & sale goes entire year. Tally Ledger under Group list Tally Optimization, TallyErp9 ledgers creation under proper group of accounts is main part of Tally ERP 9 implementation. Profit and Loss Account: This ledger is created under Primary, where the previous year’s profit or loss is entered as the opening balance. In every implementation of Group wise Tally ledger list prepared first which affects Trading a/c, Profit and loss a/c and Balance sheet. Exmaple : Cash A/c, Purchase A/c Capital A/c Bank A/c Sale, Mohit A/c Heera Shop A/c etc. Actually I had set off X (debtor) & x (creditor) in following manner on 31-3-2011. Please explain the entries in detail at the end of FY & start of FY. 1. For example, if you are purchasing goods from Supplier A for a value of Rs. Party Ledger. Different Types of Entries in Tally There are normally 6 types of entries or vouchers in tally 1. So you just type ‘G’. Create Purchase and sales Ledger with GST in tally, How to create Fixed Deposit ledger in Tally ERP 9, List of Ledgers & under group in Tally ERP9, How to upgrade Tally erp 9 to the latest versions. Enter other details like address, PAN NO etc as shown in the below figure. Select ‘Display’ under gateway of tally. Before start creating party ledger we should know What does the term sundry debtor and sundry creditor means. 3.4.17 sold goods to Harish 20000. Here is the list of ledger head and respected group … You asked your educational qualification means speciliastaion is you from commerce back ground or non-commerce bank ground, Because of for non-commerce back ground it is critically to understand and required more details explanation than commerce back ground students.So i asked your educational qualification. This case you need to create two ledgers for “Discount Given” under group direct income and discount given under group direct expense (sales discount) While entering the sale and purchase voucher , first enter the … Step 6: Field → 'Purchase Ledger': Under the list, choose a purchase account. Today we are going to learn how to create a party ledger in tally. In every implementation of Group wise Tally ledger list prepared first which affects Trading a/c, Profit and loss a/c and Balance sheet. As explained above there are two types of ledger for party. In this example Vishal traders is the Sundry Debtor. ABC Company owns one Godown - ‘Job Work In Location’ to store third-party’s raw materials received for Job Work (Third Party … Contra 6. Enter the Name of the Party Ledger e.g. So I should I rectify error What will be entry & narration. Ltd. Mark IT Solutions Select Sundry Creditors from the List of Groups in the Under field. 10000/- Debit Purchase Account. What is closing letter of loans. Means as on 31-3-2013 balance of Mr.X showing Rs.50000 even you received cheque from him on or before 31-3-2013. After groups are created in Tally ERP 9, you can display all the created groups with details. 4.4.17 Give loan to Sumit 10000. in transaction me A/c Effective honge. 37 Full PDFs related to this paper. Basic Accounting me Books of Accouting ke anrtgat hamari 2 impotent Books hoti he You want to continue to accounts further also so i suggested show two accounts in balance sheet because of don't go confusion for taking of opening balances further only, but not it is necessary, if you want then you can show it as a single balance on the balance sheet. With these options, you can provide advance information ,notes,descriptions etc.Also you can pull down some more advanced options from F11 Features. Under this section, there are five sub-sections which are as follows: Ledger Name – Press the spacebar to view the list of ledgers. Tally Practice Paper. Yes, you can pass that entry and that is correct and not the mistake. I HAD GIVEN AN APPLICATION TO INCOME TAX DEPARTMENT FOR SURRENDER OF TDS NO BUT THEY DID NOT ACCEPT MY APPLICATION & HAVE TOLD ME TO MENTION REASON FOR SURRENDER OF TDS. Give discount in tally lump sum amount as a separate entry. Shreya Builders & Developers; Select Sundry Creditors from the List of Groups in the Under field. For example Vismaya trading is one of the supplier of ABC ltd. For creating vismaya trading as a supplier we should have the following details of the party. So still you can continue 2 accounts from 1-4-2011 also. WHAT CERTIFICATE WILL MY FATHER GIVE & TO WHOM. Tally.ERP9 Basic with GST. Sometimes back, I wrote about basic groups in Tally.ERP 9. IF PURCHASE AND SALES ARE MADE REGULARLY FROM SAME PARTY HOW WILL BE ACCOUNTS MAINTAINED. PLEASE REPLY FOR MY ABOVE QUERIES IMMEDIATELY. I WANT TO SURRENDER MY TAN NO ISSUED TO ME ON 1-4-2013 SINCE I HAVE RETURNED ALL LOANS WHICH I TOOK & NOW I DO NOT HAVE TO DEDUCT TDS SINCE I HAVE NOT TO MAKE ANY INTEREST PAYMENT. Advance receipts if your company turnover is less than Rs.1.5 Crores: If your company turnover in the previous financial year was less than 1.5 crores then you need not to pay tax on advance receipts against supply of goods. To access these advance options you need to press F12 Configure button from ledger creation screen. I WAS EXPECTING REPLY FROM SRI DINTAKURTHI TIRUMALA who had till now solved my all queries & I am fully satisfied by his replies.I expect him to explain me my above query in full details with entries & narrations. So we are going to create the fourth ledger “GAIL India”. Or in other words when you lend money or sell goods on credit to another party.That party becomes a debtor to us. So the first party ledger is created. SAY PARTY IS X THEN DEBTOR X & CREDITOR X. . Create a sales return ledger under group sales if not already created. 2. Under: Debtor North (This is a child group we have created under Sundry debtors) Inventory values are affected: This will be visible only if you created a company in Accounts with inventory mode. Tally ledgers creation under group of accounts is main part of Tally ERP 9 implementation. Go to Gateway of Tally > Accounting Vouchers. WHICH PAN NO SHOULD I GIVE MY FATHERS OR MINE. Any Party to whom we gave loan Loans and Advances (Assets) like Loan Given to Friends Relatives/Related Companies Any Party to whom we gave Advance like Advance to Supplier Any Party from whom we take loan. Please explain me in details with journal entries & narrations.Earlier y told to create 1 a/c of Mr x.under which group a/c of Mr x will be created sundry creditor or sundry debtor. You need to be the querist or approved CAclub expert to take part in this query . In the Update Party GSTIN/UIN screen, enter the GSTIN/UIN number for all party's that's you have created in tally accounting software. Yes, you can adjust it you will not face any problem from the side of sales tax authorities. Opening two accounts of the same party Tally.ERP 9 classifies debtors, creditors and branch/divisions for convenience. Please give urgently. There are normally 6 types of entries or vouchers in tally Purchase Sales Receipt Payment Contra Journal We have to Select Correct type of voucher/Entry Only then we can pass the entry . This helps you in the process of keeping the accounts of a particular group together during display and analysis. Select Yes for the option Inventory values are affected? After activating the above options you will get the below ledger creation screen. 3. WILL WE HAVE TO OPEN 3 accouns INPUT VAT A/C.,INPUT VAT CREDIT A/C & output vat A/c.WE HAVE TO PAY VAT ON MONTH WISE BASIS.So please explain me how INPUT VAT a/c Will be transferred to INPUT TAX CREDIT A/c at the end of the month. SO X (Creditor) balance as on 31-3-2011 is Rs3300000/ CR Balance on 31-3-2011.Now I want to ask how I will club both the Accounts & on which date. I HAVE APPLIED FOR CANCALATION OF VAT NO TO SALES TAX DEPARTMENT BUT MY RC WAS NOT CANCELLED. How accounts will be maintained . Here is the screen shot of supplier ledger under gst. i have a party from whom i purchase some items and to the same party or client i sell some product. Entry: Just debit that head and credit bank a/c ( if not in cash). Field → 'Name of Party Account': Choose the relevant vendor name from whom purchases have been made. I RECEIVED LETTER IN THE NAME OF FIRM OF WHICH I AM PROPRIETOR FROM 1-4-2012. You can also find us on Facebook. With Tally.ERP 9, we can record advance payments made to registered or unregistered dealers in a payment voucher and now can raise liability in journal voucher (GST Tax liability on purchases), and can also record a refund in receipt voucher where such advance payment transaction is cancelled, and cancel the liability (GST Tax liability on purchases) on advance payment in journal voucher. THIS FIRMS PROPRIETOR WAS MY FATHER WHO GIFTED ME ON 1-4-2012 WITH ALL ASSETS & LIABILITIES & his capital as loan. All other trademarks are properties of their respective owners. GSTR2A Reconciliation in Tally.ERP9 – The process of MANUAL reconciliation of GSTR2A using excel sheets or other means, takes hours of your valuable time & resources.Moreover many businesses lose money and end up paying un-necessary interests and penalties as They DO NOT RECONCILE Purchase Transactions with GSTR2A From GST Portal. Payment 5. You can change name of State from the State List if your Suppliers belongs to … Payment 5. You can use sale ledger also instead of creating a separate sale ledger. Creating a sales/purchase ledger; Creating an Income/Expense ledger ; Creating a party ledger; Creating bank account; Creating a tax ledger; Creating a current liabilities; 7) Mention what is the shortcuts for Voucher Creation and Alteration Screen in Tally ERP 9? Download. Tally Practice Paper. waiting for yr replies. You decided to maintain two accounts for X from 1-4-2011 so you need not to club the balances of Mr.X on 31-3-2011,so need not to pass any journal entries, but you have both means X creditor and X debtor are credit balances as on the date of balance sheet so you have to disclose both accounts under current liabilities(sundry creditors) at the balance sheet. THANK Y VERY MUCH.I AM A PROPRIETOR OF A FIRM FROM 1-4-2012. I HAVE CREDITED A PARTY X A/C BY RS 50000/ on 29/8/12 but cheque was received from party Y.How I will rectify the above error during Accounting perod 2013-14.I have already filed return for 31/3/2013. Please explain this also in details, IF 2 Accounts of X are b/f on 1-4-2011 what amount will be shown in balance sheet on 31/3/2011 of Mr X. List of Tally Ledgers Groups List: (Ledger under Which Head). After opening the Tally application, from the Gateway of Tally screen choose the inventory info under Master tab. 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