Scribd
Upload
30 views3 pages

Practical No.8

The document outlines the steps for creating a company, setting up ledger accounts, and entering transactions using Tally software for M/s Bitwise Trading Company. It details the creation of various ledgers, the process for passing voucher entries, and how to view financial reports such as Trial Balance and Profit and Loss Account. The transactions include receipts, purchases, payments, and sales with corresponding debit and credit amounts.

Uploaded by

arnavshirke2256
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
30 views3 pages

Practical No.8

The document outlines the steps for creating a company, setting up ledger accounts, and entering transactions using Tally software for M/s Bitwise Trading Company. It details the creation of various ledgers, the process for passing voucher entries, and how to view financial reports such as Trial Balance and Profit and Loss Account. The transactions include receipts, purchases, payments, and sales with corresponding debit and credit amounts.

Uploaded by

arnavshirke2256
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
You are on page 1/ 3

Practical No.

8
Solution:
Step 1 : Company Creation
Company Info → Create Company
(i) Create a new company in the name of M/s Bitwise Trading Company with the given details, Financial
year begins on 1/04/2019.

(ii) After creation of a company, it is necessary to set up features. The features are set of capabilities,
provided as option that enable maintenance of financial record as per the requirements of the users.
Go to features →
Company Features →
Accounting Features →
Maintain Accounts with Inventory →
Type YES.

Step 2 : Creation of Ledger

To Record any transaction, the transaction has to be identified with the related Ledger Accounts. Two ledger
are created by tally i.e. Cash and Profit and Loss A/c.

To Create given Ledgers →


Masters →
Account Info →
Ledger →
Single Ledger → Create
While Creating a Ledger, name of the ledger along with appropriate group should be selected from the list of
groups.
Ledger Under Group
Capital A/c Capital Account
Bank Of India A/c Bank Account
Salary A/c Indirect Expenses
Purchase A/c Purchase Account
Sharada Steel Works A/c Sundry Creditors
Sales A/c Sales Account
Machinery A/c Fixed Account
Interest Received A/c Indirect Income

To View the list of created Ledger :


Account Info →
Ledger →
Single Ledger →
Display.
Step III : Voucher Entries

To Pass voucher entries from


Gateway of Tally →
Transaction →
Accounting Voucher →
Select appropriate voucher and pass all the entries.
Analysis of Transaction

Date 2019 Voucher Type Particular Debit Amt. Credit Amt.


1 April Receipt F6 Dr. Cash A/c 5,00,000 5,00,000
Cr. Capital A/c
1 April Purchase F9 Dr. Purchase A/c 20,000 20,000
Cr. Sharada steel works A/c
2 May Payment F5 Dr. Salary A/c 5,000 5,000
Cr. Bank of India A/c
1 June Contra F4 Dr. Bank of India A/c 50,000 50,000
Cr. Cash A/c
2 June Sales F8 Dr. Cash A/c 25,500 25,500
Cr. Sales A/c
2 July Purchase F9 Dr. Machinery A/c 10,000 10,000
Cr. Cash A/c
2 Dec Receipt F6 Dr. Bank of India A/c 2,000 2,000
Cr. Interest Received A/c

Step IV: To view the Reports

i) To view Trial Balance → Display → Trial Balance


ii) To view Profit and Loss A/c → Reports → Profit& Loss A/c

iii)To view Day Book → Display → Day Book → Detailed (Alt + F1)

You might also like