ASSIGNMENT
- Company purchase the following Materials from Green Stone Materials and the material stored at Dolapeta Godown. Reference Number: GSM/001. Credit Days: 90 days. Date: April 01 2020.
The Total Material is purchased for Project Works – Apartment and Villa. Share the Material For Project Apartment – 60% and Project Villa – 40%
S.No | Name of the Item | Quantity | Rate |
---|---|---|---|
1. | Bricks | 20,000 No.s | Rs.3.00 per no. |
2. | Sand | 10,000 Cu.Ft | Rs.140 per Cu.Ft |
TOTAL PURCHASE VALUE | 14,60,000 |
2. Company Purchased the following materials from Andhra Gignatic Materials and the material stored at Maruthi Nagar Godown. Reference Number: AG/001. Credit Days: 35 Days, Date: 02/04/2020. The Total Material is purchased for Project Works – Apartment and Villa. Share the Material For Project Apartment – 50% and Project Villa – 50%
S.No | Name of the Item | Quantity | Rate |
---|---|---|---|
1 | Cement | 2000 bags | 420rs per bag |
2 | PlyWood | 500 SQ.Feet | Rs.38 per SQ.Feet |
TOTAL PURCHASE VALUE | 8,59,000 |
3. The company purchased the following materials from Victory Stores and the material stored at Rajam Godown. Reference Number: VS/001. Credit Days: 20 Days. Date: 02/04/2020. The Total Material is purchased for Project Work – Apartment and Villa. Share the Material for Project Apartment – 75% and Project Villa – 25%
S.NO | NAME OF THE ITEM | QUANTITY | RATE |
---|---|---|---|
1 | Asian Paint | 500 | Rs. 134 per liter |
2 | Teak Wood | 40 | Rs.10,500 per CFT |
TOTAL PURCHASE VALUE | 4,87,000 |
4. Company completed the Project Work – Apartment and raised a bill on TERRIFIC CONSTRUCTIONS with ref no: TC/001 for the amount 25,00,000/- and Credit days 60 days. Date: 01/05/2020
5. Company completed the Project Work – Villa and raised a bill on SS CONSTRUCTIONS with ref no: SS/001 for the amount 30,00,000/- and credit days 50 days. Date:02/05/2020
SOLUTION
STEP: 1 (Setting-up Features)
- Press F11 for Company Features
- Press F1 for Accounting Features
Cost / Profit Centers Management:
Maintain Cost Centers – Yes
Maintain More Than One Payroll / Cost Category – Yes - Press F2 for Inventory Features
Maintain Multiple Godowns – Yes - ACCPET_YES
STEP: 2 (Creating Cost Categories)
- Gateway of Tally > Accounts Info > COST CATEGORIES > Create
- Name : Project Works
Allocate Revenue Items – Yes
Allocate Non- Revenue Items – Yes
ACCEPT_YES
STEP: 3 (Creating Cost Centers)
- Gateway of Tally > Accounts Info > COST CENTERS > Create
- Category : Project Works
Name : Apartment
Under: Primary
Accept_Yes - Category : Project Works
Name : Villa
Under: Primary
Accept_Yes
STEP : 4 (Creating Ledgers)
- Gateway of Tally > Accounts Info > Ledgers > Create
- Name : Green-Stone Materials
Under: Sundry Creditors
Maintain Balances Bill -By Bill : YES
Press Enter
Accept_YES - Name : Andhra Gignatic Materials
Under: Sundry Creditors
Maintain Balances Bill By Bill – Yes
Press Enter
Accept_Yes - Name : TERRIFIC CONSTRUCTIONS
Under: Sundry Debtors
Maintain Balances Bill By Bill – Yes
Press Enter
Accept_YES - Name : SS CONSTRUCTIONS
Under : Sundry Debtors
Maintain Balances Bill By Bill – Yes
Press Enter
Accept_YES - Name : Purchase A/c
Under: Purchase Accounts
Inventory Values Are Affected? : YES
Cost Centers Are Applicable ? Yes
Press Enter
Accept_Yes - Name : Sales A/c
Under: Sales Accounts
Cost Centers Are Applicable ? Yes
Press Enter
Accept_Yes
Step: 5 (Creating Stock Items)
- Gateway of Tally > Inventory Info > Stock Items > Create
- Name : Bricks
Under: :Primary
Units : (Alt+C) No.s
Accept_Yes - Name : Sand
Under: Primary
Units: (Alt + C) Cu.Ft
Accept_yes - Name : Cement
Under: Primary
Units: (Alt+C) Bags
Accept_Yes - Name : PlyWood
Under: Primary
Units: (Alt+C) Sq.Feet
Accept_Yes - Name : Asian Paint
Under: Primary
Units: (Alt+C) Liters
Accept_Yes - Name : Teak Wood
Under: Primary
Units: (Alt+C) CFT
Accept_Yes
Step: 6 (Creating Purchase Vouchers)
- Gateway of Tally > Accounting Vouchers > Press F9 for Purchase
- Press CTRL + V for Voucher Mode
- Press F2 for Date: 01-04-2020
- Supplier Invoice Number: GSM/001
- Cr: Green Stone Materials
- Amount: 14,60,000
Press Enter - Type of Ref: New Ref
Name : gsm/01
Due Date or Credit Days: 90 Days
Amount: - Dr. Purchase A/C
Press Enter
Name of Item: Bricks
Press Enter
Godown: (ALt+C) Dolapeta
Quantity: 20,000
Rate: 3.00
Amount: 60,000
press Enter
Cost Category: Project Works (Press Enter)
Name of Cost Center : Apartment
Amount: 36,000 (press Enter)
Name of Cost Center: Villa 24,000 (Press Enter)
Name of Item: Sand
Press Enter
Godown: Dolapeta
Quantity: 10,000
Rate: 140
Amount: 14,00,000
press Enter
Cost Category: Project Works (Press Enter)
Name of Cost Center : Apartment
Amount: 8,40,000 (press Enter)
Name of Cost Center: Villa 5,60,000 (Press Enter) - PRESS ENTER_ACCEPT-YES
enter the remaining purchase vouchers same as above
Step: 7 (Creating Sales Vouchers)
- Press F8 for sales Voucher
- Press Ctrl + V for Voucher Mode
- Press F2 for Date: 01/05/2020
- Reference No: TC / 001
- Dr: Terrific Constructions
Amount: 25,00,000/-
NEW REF > TC/001 >Credit Days 60 > 25,00,000 - Cr: Sales A/c
Amount: 25,00,000
Cost Category: Project Works
Name of Cost Center: Apartment
Press Enter - ACCEPT_YES
- enter the second sales voucher same as above.
STEP: 8 (REPORTS)
- Gateway of Tally > Display > Statements of Accounts > Category Summary