Tally Practical Assignment Afroz IT Solution

Tally Practical
Assignment
Tally Practical Assignment

Create a company with Afroz IT Solution and Student Code financial year-2019-20 address
(Kumbharpara, Sambalpur)

Company Creation
Gateway of Tally  Company Info (Alt+F3)  Create

Directory C:\Users\Public\Tally.ERP9\Data
Name Afroz IT Solution
Primary Mailing Details
Mailing Name Afroz IT Solution
Address AT/PO- Kumbharpara, Dist.- Sambalpur
Country India
State Odisha
Pin code 768001
Contact Details
Phone no **********
Mobile no **********
Email www.aits@gmail.com
Website www.aits.com
Company Type Accounts Only

Book & Financial Year Details-

Financial Year Begins From- 1-4-2020
Books Beginning From- 1-4-2020
Books Currency Information-
Base Currency Symbol- ₹
Formal Name- INR
Number of decimal Places- 2
Word representing amount after decimal- Paisa
No. of decimal places for amount words- 2

Figure 1 Company Creation

Tally Practical Assignment

1 Create the following Ledger.

Security preminum145000, Loan to Mr. Nikhil 365000, ICICI Bank 175000 M/S Anurag 85000
(Cr), Cash in hand 80000, Machinery 180000, Capital remaining balance

Ledgers Creation
Gateway of Tally  Accounts Info. LedgerMultiAlter
Sl no. Name of Ledger Under Balance
1 Cash Cash-in-Hand 80,000,00 Dr
2 Profit & Loss A/c Primary
3 Security Premium Reserve & surplus 1,45,000.00 Cr
4 Loan to Mr. Nikhil Loan & Advances (Asset) 3,65,000.00 Dr
5 ICICI Bank Bank Accounts 1,75,000.00 Dr
6 M/s Anurag Sundry Creditors 85,000.00 Cr
7 Machinery Fixed Assets 1,80,000.00 Dr

Figure 2 Multi Ledger Alteration

Create the Capital remaining balance (5,70,000)

Gateway of Tally  Accounts Info. LedgerSingleCreate

Sl
Name of
No Under Balance
Ledger
.
Capital
1 Capital 570000
Account

Figure 3 Single Ledger creation

Tally Practical Assignment

2 Company paid advance salary to Ram 8000 on 1-5-2019 by Cash.

Key Voucher Ledger Group Amount

Dr-Advance salary Loan & Advances (Asset) 8000
F5 Payment
Cr- Cash Cash-in-hand 8000

1. Create Ledger Advance salary Under the group Loan & Advances (Asset)
2. Make an entry in payment voucher
3. Enter the voucher date (F2) 1-5-2019

Figure 4 Payment voucher

3 On 1-6-2019 company paid salary Rs.12000 to after adjustment of advance salary by Cheque.
Key Voucher Ledger Group Amount
Dr- Salary Indirect Expenses 12000
F5 Payment
Cr- ICICI Bank Bank Account 4000
Cr- Advance Salary Loan & Advance 8000

1. Create Ledger Salary Under the group Indirect Expenses

2. Make an entry in payment voucher
Tally Practical Assignment

Figure 5 Payment Voucher

4 Company invest Rs.52000 in to Tata Co. share on 2-6-2019 by cheque.

Key Voucher Ledger Group Amount

Dr-Investment Tata Shares
Investment 52000
F5 Payment Co.
Cr- ICICI Bank Bank Account 52000

1. Create Ledger Investment Tata Shares Co. Under the group Investment
2. Make an entry in payment voucher

Figure 6 Payment Voucher

5 On 1st July company sold machinery for Rs. 175000 after charging depreciation @10% p.a for 3
months by cheque of Rs. 175000 Loss on Machinery of Rs. 500

Key Voucher Ledger Group Amount

Dr- Depreciation Indirect Expenses 4500
F7 Journal
Cr- Machinery Fixed Assets 4500
Tally Practical Assignment

1. Create Ledger Depreciation Under the group Indirect Expenses

2. Make an entry in Journal voucher
Calculate deprecation amount
Machinery opening balance is 180000 is 10% depreciation is (180000*10%=18000) of 1year &
Calculate the depreciation amount of 3 months 18000*3/12=4500
So finally, machinery current balance is 175500 Dr

Figure 7 Journal Voucher

Voucher Ledger Group Amount

Cr- Machinery Fixed Assets 175500
Receipt Dr- ICICI Bank Bank Account 175000
Dr- Loss on Machinery Indirect Expenses 500

1. Create Ledger Loss on Machinery Under the group Indirect Expenses

2. Make an entry in Receipt voucher

Figure 8 Receipt voucher

6 Pass the entry by below document.

Tally Practical Assignment

MISHRA & CO. Date: 02/06/2019

AS/29/V.S.S MARG Invoice no. kls/001
SAMBALPUR Pan No. ASDFG12341
Invoice To
Afroz IT Solution
Sambalpur
SL No. Description Amount
1 Pen 150
2 Printing Paper 450
3 Stapler 125
INR Seven Hundred Twenty Five Only 725
CASH BANK DD

1. Activate the following options

A. Maintain cost centress Yes
B. Maintain more than one payroll or Cost category Yes

Key Voucher Ledger Group Amount

Dr- Stationary Indirect Expenses 725
F5 Payment
Cr- Cash Cash-in-hand 725

1. Create Ledger Stationary Under the group Indirect Expenses

2. Make an entry in Payment voucher

Press Alt + C Create the Cost Allocation for: Stationary just below the screen
Tally Practical Assignment

Figure 9 Payment Voucher

7 Company paid Commission to Mr. Amjad, Mr. Abhishek, Mr. Ravi Rs.36000 (25%,45%,30%) on
1-7-2019.

1. Activate the following options

A. Use pre-defind cost centre allocations in transactions  Yes
B. Activate the Cost Centre Classses Screen
C. Press Alt+C & create the class as Commission under the group Primary
D. Press the Alt+C & create the following Cost center with %-age (Mr. Amjad 25%,
Mr. Abhishek 45%, Mr. Ravi 30%)
E. Finally accept it
2. Make & Entry Payment Voucher

SL Key Voucher Ledger Group Amount

Dr- Commission Indirect Expenses 36000
7 F5 Payment
Cr- Cash Cash-in-hand 36000
Tally Practical Assignment

8 Pass the entry by below the document.

M/s Dream Light

Sivram Complex
Jharsuguda
AFROZ IT SOLUTION Invoice no:- pur/139/2019-20
KUMBHARPARA Date: 02-07-2019
SAMBALPUR

SL no Description QTY Rate Amount

actual bill
1 Polar Fans 40 40 1000 40000
2 Table Fans 50 45 1200 54000
3 Philips LED Light 10
Figure 10 Payment Voucher

Less: Trade Discount @10% (9400)

Add: Carriage 1000

INR Eighty-Five Thousand Six
Hundred Only TOTAL 85600

1. Activate the following options

A. Enable Zero-valued transactions Yes
B. Use separate actual and billed quantity columns Yes
2. Create the foolowing Ledger
A. M/s Dream Light under the group Sundry Creditors
B. Purchase under the group Purchase Account
C. Trade disscount@10% under the group Indirect Incomes
D. Carriage under the group Direct Expenses
E. Make an entry Purchase Voucher

SL Key Voucher Ledger Group Amount

Cr- M/s Dream Light Sundry Creditors 36000
8 F9 Purchase
Cr- Purchase Purchase A/c 36000
Tally Practical Assignment

Figure 11 Purchase Voucher

9 Pass the entry by below the document.

AFROZ IT SOLUTION
SAMBALPUR, ODISHA
DEBIT NOTE
To Date: 31-07-2019
M/S Dream Light No. DB/139/17
Shivram Compolex,Jharsuguda
Particular Amount
2Pcs table fans 2400
Less: Trade Discount @10% (240)

TOTAL in word: Two Thousand One Hundred Sixty Only 2160

1. Activate the following options(F11)

A. Use Debit/Credit notes Yes
B. Record credit notes in invoice mode Yes
C. Record debit notes in invoice mode Yes
D. Make an entry Debit Note Voucher
Tally Practical Assignment

10 Company paid entire amount of M/S Dream Light and received 2% cash discount.

Key Voucher Ledger Group Amount

Dr- M/S Dream Light Sundry Creditors 83,440
F5 Payment Cr- Discount Review Indirect Incomes 1,668.80
Cr-Cash Cash-in-Hand 81,771.20

Figure 12 Debit Note voucher

1. Make an entry Payment Voucher

Figure 13 Payment Voucher

11. Pass the entry by below the document.

M/s Ghosh Brother

Sivram Complex
Jharsuguda
AFROZ IT SOLUTION Invoice no:- pur/gb2019-20
KUMBHARPARA Date: 01-08-2019
SAMBALPUR

SL no Description QTY Free Rate Amount

1 Chocolate Cake 80Pcs 1pack Lays 35 2800
with each

2Pcs gems
2 Fruit Cake 120Pcs wqith 5Pcs 25 3000
1Pcs dairy
milk with 3900
3 Vanila Cake 130Pcs 5Pcs
30

INR Nine Thousand Seven

Hundred Only TOTAL 9700

1. Create the Ledger M/S Ghosh Brother Under the group Sundry Creditors
Tally Practical Assignment

2. Make an entry Purchase Voucher

Figure 14 Purchase Voucher

Tally Practical Assignment

On 1-9-2019 Company create a budget for travelling exp.Rs.22000 on 1-10-2019 to 1-12-2019

12.
travelling has two categories outside 12000 and local side 10000.

1. Activate the Following option(F11)

A. Maintain budgets and controls Yes
2. Create Budget
A. Gateway of Tally  Accounts Info. BudgetsCreate
B. Create Ledger Travelling Exp. Under the group Indirect Expenses
C. Make an entry Budget

Figure 15 Budget

13. Company paid travelling exp. Rs. 18000 by Cash outside 10000 local side 8000 on 1-11-2019.

Key Voucher Ledger Group Amount

Dr-Travelling Exp.. Indirect Expenses 18000
F5 Payment
Cr- Cash Cash-in-Hand 18000

1. Make an entry in payment voucher

14. On 2-11-2019 Company declared a price scheme for the customers as below.

Scheme Name Product Quantity Sold level Rate Discount

Up to 10 1600 Nil
11 to 25 1550 Nil
Great deal Table Fan 26 to 30 1550 2%
31 to 40 1525 Nil
41 onward 1500 3%

Figure 16 Payment Voucher

Tally Practical Assignment

A. Use Multiple Price Levels ?  Yes

2. Cerate a price list

A. Gateway of Tally  Accounts Info. Price listCreate
B. Selcet the Stock Group Items- All Items
C. Selct the Price Level- Great Deal
D. Select the Applicable From- 1-Apr-2020
Tally Practical Assignment

Figure 17 Price List

15. Pass the entry below document

Afroz IT Solution
Kumbharpara,Sambalpur

M/S Rohit Pvt Ltd.

Credit Limit_125000 Invoice no:- Sale/rpl/00234
25, NA Road,Bargarh Date: 01-08-2019

SL no Description QTY Rate Amount

1 Polar Fans 35 1200 42000
2 Table Fans 45 1500 67500
3 Philips LED Light 10 240 2400

INR One Lack Eleven Thousand

TOTAL 111900
Nine Hundred Only

1. Activate the following options (F11)

A. Maintain budgets and Controls Yes
2. Create the foolowing Ledger
A. M/s Rohi Pvt Ltd. under the group Sundry Debtors.
B. Sales under the group Sales Account
Tally Practical Assignment

C. Make & Entry Sales Voucher

Figure 18 Sales Voucher

Balance Sheet

Figure 19 Balance Sheet

Tally Practical Assignment

Trial Balance

Figure 20 Trial Balance