Education Session

  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

 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

  Book keeping                                                                             Book keeping is a art where the part of accounting the process of recording financial transactions in a systematic manner and classifying them into ledger accounts termed as book keeping. Process of financial transaction • Identifying financial transactions and events . • Measuring them in terms of money. • Recording the indentifyed transactions in           books of accounts. • classifying posting them into the ledger              accounts. • Analysing and interpretation • Communicating to the users. Accounting is the art or is the primary consult recording, classifying, summering in a significant manner and in terms of money, transactions and events which are in part at least of financial character and interpret the results thereof. Business transaction The term business transaction means a financial transactions or event entered by the two parties and it will recor