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We know that there are   6 types of Accounting Vouchers in tally

For every entry we have to think which type of entry

 

Assignment/Examples

Pass the following entries in Tally

Maintenance Charges Bill Received from SK Associates  Rs 2500,Amt paid by Cheque of SBI Bank

-a-

Maintenance  Exp Dr              2500

        To SK Associates                             2500

 

SK Associates                                  2500

      To SBI Bank                                           2500

(First Entry is Journal,Second is Payment

SK Associates is a Sundry Creditor,Maintenance Exp is Indirect Expense,SBI Bank Under Bank Account) 

-ea-

Furniture purchased from DK Furnishers Rs 10000,Amt paid by Cash
-a- 

Fur Dr                   10000  

        To DK Furnishers                            10000

 

DK Furnishers   10000

    To Cash                 10000

(First Entry is Journal,Second is Payment

SK Associates is a Sundry Creditor,Furniture is Fixed Assets,Cash Account is already created) 

-ea-

Security Service Bill Received from Ravi Security Agency, Amt not yet paid
-a-

Security Exp Dr 2500

 To Ravi Security Agency                        2500

(It is a Journal Entry

Security Exp is Indirect Expense and Ravi Security Agency is Sundry Creditors )

-ea- 

Professional Service Bill received from CA Amit Gupta Rs 40000
-a-

Professional Exp                 40000

     To CA Amit Gupta                    40000

(It is a Journal Entry

Professional Exp is Indirect Expense and CA Amit Gupta   is Sundry Creditors )

-ea- 

Salary paid to employees A,B,C,D and E Rs 15000 eac h by cash
-a-

Salary Expense Dr                              75000

        To Cash                               75000

(It is a Payment Entry)

Salary Expense is Indirect Expense ,Employee names are normally not recorded )

-ea-

The company entered into contract with Alex and Co to provide Consultancy service of Rs 20000 on 20 Jan. As per terms, Rs 4000 was paid in advance by cheque of SBI Bank ON 22 Jan. Maxwell completed its work and sent its bill for technical service of Rs 20000 on 28 Jan and Balance 16000 was paid on 29 Ja n by cash

-a-

20 Jan

No Entry for Agreement Entered

 

22 Jan

Alex and Co 4000

To SBI Bank                        40000

 

28  jan

Consultancy Exp Dr 20000

To Alex and Co 20000

 

29  Jan 

Alex and Co Dr             16000

     To Cash                                   16000

(The three Enries are Payment,Journal and payment

Consultancy Exp is Indirect Expense and Alex and Co   is Sundry Creditors )

-ea-  

LOAN TAKEN

Loan taken from Director Ajay Patel Rs 200000 by cheque @12% p.a for 1 month

-a-

SBI Bank A/c Dr                         200000

    To Ajay Patel Loan A/c                      200000

 

Entry for Interest due

Int on Loan A/c Dr           1000 

To Ajay Patel Loan A/C                     201000

(Interest for the month= 200000*12%*1/12 =1000)

 

Entry for Amount paid including interest

Ajay Patel Loan A/C A/c Dr  201000
                       To SBI Bank A/C    201000

(Ajay Patel Loan A/C is Loans Liabilities,Int on Loan is Indirect Expense and SBI Bank is Bank Account)

-ea-

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CA Maninder Singh's photo - Expert in Practical Accounts, Taxation and Efiling
CA Maninder Singh
CA Maninder Singh is a Chartered Accountant for the past 6 years. He provides courses for Practical Accounts, Taxation and Efiling at teachoo.com .
  • Hiren Ramolia's image

    After new company create... How should enter below transaction?

    Proprietor bring cash rs 50000, good stock rs 40000, debtor rs 30000, loan rs 50000

    Kindly let me know also antry in which a/c and under which head

    Thanks

    View answer
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