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  Payroll management using tally ERP 9 Tally ERP 9 offers enhanced payroll management or payroll calculator with the automatic calculation of salaries and pay slip generation. Payroll process is a series of accounting transaction that deals with the procedure of paying employees for their services provided to company after processing necessary deduction such as taxes, insurance premium, employee benefit, garnishment and deduction. Payroll records content information related to employees such as payment method details, statutory details, passport and visa details. Tally calculate salary of employees using two method i.e. manual method and autofill method and capable to print single or multiple pay slip. Payroll feature is fully integrated with accounting feature and developed to maintain simplified records. It also provide statutory reports and details such as pay slip, payroll register, statement of attendance, overtime registers, gratuity and other reports. It allow the user to ma
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  Practical question of entries in different voucher in tally ERP 9   Pass the following entries:   Receipt voucher 1.    Mr. jhone Started business with cash of 400000, bank of 150000, machinery of 80000 and building of 20,00000. 2.    Receive cash from jack and co. of 52000 in cash and allowed discount of 100 to him. 3.    Acquire a loan from ss bros. and deposited the same into bank of 10,000. 4.    Receive cash from r.k sons. Of 80000. 5.    Receive a commission and interest of 15540 and 1280 respectively.   Payment voucher 1.    Paid to surya ltd. In cash of 23000. 2.    Payment of wages and salaries made of 15000. 3.    Sum of amount paid to McMahan of 5900 in full settlement of his account of 5070. 4.    Paid electricity bill, rent of 10000 and 78000 respectively 5.    Telephone charges paid of 7800. Contra voucher 1.    Paid into bank of 20000. 2.    Amount transferred from pnb bank to sbi bank of 36500. 3.    Deposited amount of 789250 i
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Goods & services tax implication in tally ERP 9

  Implementation of goods and services tax When talking about GST big question arises “how GST applied”. Goods and services tax is proposed system of indirect taxation in India. The concept behind the introduction to new tax regime, merging most of the existing taxes into a simple system of taxation.   Introduction of goods and services tax in India It was introduced by 101 amendment in constitution act 2016 the chairman of the gst bill introduced by finance minister. It was held that gst would be comprehensive indirect tax for manufactures self-consumption of goods and services. Throughout India to replace the different tax levied by the central and state government goods and service tax would be levied and collected at each stage of sale or purchase of goods and services based on the input tax credit.   Impact goods and services tax. By following this method it has allowed business to register themselves to take benefit of the scheme and endeavor to government better
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what is accounting and its process?

 Definition of accounting  " accounting is an art of recording, classifying and summarizing in a significant manner and in terms of money; transaction and event which are, in of a financial character, and interpreting the result thereof. accounting is a systematic process of identifying, measuring, recording, classifying, summarizing, interpreting and communication of financial information. it ensure the proper use of the following; 1. to find available resources. 2. how the resources to be employed effectively. 3. results of the activity achieved.   Characteristics of accounting   1. identifying financial transaction    identification play an important role of accounting process it determine which accounting transaction and event ae to be recorded in books of accounts. the recording process contains only those transaction which are in financial nature as they bring changes in resources of the business or company. 2. measuring the identified financial transaction       The proces
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what are the accounting principles

  Accounting principles    accounting principles and concepts Accounting principles are language of businesses which describe the rules and important concept of accounting must be followed there on. Accounting principles and its concepts commonly known as " generally accepted accounting principles" or in simple ‘ GAAP ’ . These are the rules which defines the ground within accounting operates. The accounting principles are major factor on which financial accounting are prepared.   Let’s discuss what are the accounting principles are there:   Separate entity principle or business entity principle This principle simply describes the business is to be considered as a separate or distinct entity from its owner. The work flow and various transaction and event are recorded in business’s books of account and not in owners books. The owners are known as creditors of business to the extent of their capital.   Money measurement principle: This lays down
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