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Tally SOP1

The document outlines the process for setting up computerized accounting for M/s Bitwise Trading Company, established in 2019. It includes steps for creating the company profile, ledger accounts, and entering various financial transactions using accounting software. Additionally, it provides instructions for generating key financial reports such as Trial Balance, Profit & Loss Account, Balance Sheet, and Day Book.

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irafiya631
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111 views5 pages

Tally SOP1

The document outlines the process for setting up computerized accounting for M/s Bitwise Trading Company, established in 2019. It includes steps for creating the company profile, ledger accounts, and entering various financial transactions using accounting software. Additionally, it provides instructions for generating key financial reports such as Trial Balance, Profit & Loss Account, Balance Sheet, and Day Book.

Uploaded by

irafiya631
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PDF, TXT or read online on Scribd
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3.

Computerised Accounting with GST


SOP 1 : Mr. Ravindrakumar started business by the name M/s Bitwise Trading
Company in the year 2019
COMPANY DETAILS

Company Name: M/s Bitwise Trading Company


Address: 102 M.G. Road, Bhavana Nagar, Latur - 413512
State: Maharashtra
Website: www.bitwisetrading.com
E-mail Id: info@bitwise.com Maintain:
Account with Inventory Financial Year From: 01-04-2019
Books Begin From : 01-04-2019
With the help of any open source or free education version accounting software pass the following
transactions in appropriate vouchers to display and print various reports such as Trial Balance, Profit &
Loss A/c, Balance Sheet and Day Book.

Step 1: Creation Company


1.Press ALT+F3-Click on Create Company option
2.Name of company-M/s Bitwise Trading Company
Address -102M.G.Road ,Bhavana Nagar,Latur
State-Maharashtra
Pincode-413512
Website:www.bitwisetrading.com
Email Id- info@bitwise.com
Maintain: Account with Inventory
Financial year Begging from - 01/04/2019
Books Beginning- 01/04/2019
3.Press F11(Feature)->Accounting Feature->Integrate account with inventory->Yes
Press enter Key To Accept
Step 2.Creation of Ledger Accounts
1.Click on Gateway of tally ->Master->Account info->Ledgers-Single Ledger-Create
Ledger name Group
Capital A/c Capital Account
Bank of India A.c Bank Account
Salary A/c Indirect Expenses
Purchase A/c Purchase Accounts
Sharada Steel Works A/c Sundry Creditors
Sale A/c Sales Account
Machinery A/c Fixed Asset
Interest Received A/c Indirect Income

Step 3.Voucher Entries


1.Click on Gateway of tally ->Transactions->Accounting Vouchers->Ledgers-Select appropriate voucher
and pass all the entries.
Note :
1.To Change the date Press-> F2
2.To change the period Press-> Alt+f2
Date 2019 Voucher Type Particular Debit Amt Credit Amt
1 April Receipt Dr cash 5,00,000 5,00,000
F6 Cr Capital A/c
1 April Purchase Dr Purchase A/c 20,000 20,000
F9 Cr. Sharada steel Works A/c
2 May Payment Dr Salary A/c 5,000 5,000
F5 Cr Bank of India A/c
1 June Contra Dr Bank of India A/c 50,000 50,000
F4 Cr Cash A/c

2 June Sales Dr Cash A/c 25,000 25,000


F8 Cr Sales A/c
2 July Purchase Dr Machinery A/c 10,000 10,000
F9 or
Purchase A/c
Cr Cash A/c
2 Dec Receipt Dr Bank of India A/c 2,000 2,000
F6 Cr Interest Received A/c
Step 4: To View Various Reports
1) To view Trial Balance ->Display->Trial Balance
2) To view Profit and Loss A/c ->Reports->Profit and Loss A/c
3) To view Balance Sheet->Reports->Balance Sheet
4) To view Day Book ->Display->Day Book->Detailed (Alt+F1)
Output:
1.Trial Balance

2.Profit and Loss A/c


3.Balance Sheet

4.Day Book

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