Three Golden Rules of Accounting

Examples – Three Golden Rules of Accounting (Traditional)

 Purchased furniture for 10,000 in cash

Accounts Involved Debit/Credit Rule Applied

Furniture A/C 10,000 Furniture is real a/c so Dr. what comes in

To Cash A/C 10,000 Cash is a real a/c so Cr. what goes out

 Paid 15,000 cash to Unreal Pvt Ltd.

Accounts Debit/Credit Rule Applied

Involved
Unreal Pvt Ltd. is a personal a/c so
Unreal Pvt Ltd. A/C 15,000
Dr. the receiver

To Cash A/C 15,000 Cash is a real a/c so Cr. what goes out

 Paid 18,000 from the bank as rent.

Accounts Involved Debit/Credit Rule Applied

Rent A/C 18,000 Rent is a nominal a/c so Dr. the expenses
To Bank A/C 18,000 Bank is a Real a/c so Cr the giver
Company Creation :
How to create a New Company?
Gateway of Tally - Company Info(Alt+F3)-Create- Fill up company data - accept - yes.

How to Modify Company?

Gateway of tally - Company Info(Alt+F3) - Alter - Modify Company Data - Accept - Yes

How to create General Ledger?

Ans: - Gateway of Tally - Accounts Info - Ledger - create - Type ledger name - Select Ledger Group - Give
Opening Balance - Accept.

(When create Sundry Creditor or Sundry Debtor "Maintain - Bill by Bill " option change as "Yes" for giving
necessary bill number)

How to modify ledger?

Ans: Gateway of Tally - Accounts Info - Ledger - Alter - Select ledger - Change or modify ledger - Accept.

How to delete ledger?

Ans: Gateway of Tally - Accounts Info - Ledger - Alter - Select ledger - Press Alt + D - Enter to delete.

How to create Ledger Group?

Ans: - Gateway of Tally - Accounts Info - Group - Create - Type Group name - Select main group - Accept

How to create Stock Group?

Ans: Gateway of Tally - Inventory Info - Stock Groups - Create - Type Group Name - Accept (here stock
group are LG & Samsung)

How to create Stock Category?

Ans: Gateway of Tally - Inventory Info - Stock Category (If Stock Category not found then press F11 and
activate Stock Category as (Yes) then back to Inventory info) - Create - Type Stock Category Name -

How to Create Unit of Measure?

Ans: Gateway of Tally - Inventory Info - Unit of Measure - Create - Type Unit of Measure Name - Accept
(here Unit of Measure is Pcs)

How to create Stock Item?

Ans: Gateway of Tally - Inventory Info - Stock Item - Create - Type Stock Item Name - Select Stock Group,
Stock Category, and Unit of Measure and give Opening Balance - Accept.

Purchase a Printer from Suresh @ Rs. 6500

Paid Rs. 5000 by cash to Suresh.

printer A/c ................................ dr 6500

To Suresh ....................................Cr 6500

Suresh A/c ...............................dr

To Cash .....................................cr

Rs. 5000.755

.0005

5000 Rs.

Purchase a Computer from Suresh @ Rs. 25000.

Purchase a Computer from Balaji Infotech @ Rs. 25000.

Salary paid Rs. 5000 by Cash

By Computer A/c ................................... Dr. 25000

To, Suresh A/c .................................................... Cr. 25000

By Salary A/c .......................................... Dr. 5000

To, Cash ............................................................Cr. 5000