Debit and Credit are most important terms in Accountancy. The entire accounting system depends on Debit and credit. Every transaction must has debit and credit terms. Some Transactions may have more than two ledgers at debit side and only one ledger at credit side. And some more transactions may have more than two ledgers atRead More »
What is DEBIT NOTE ? This voucher is open is the ALT + F5 key is pressed. If the company returns the purchase commodity for any reason (Ex: Damages, inferior quality etc,,), it should be recorded in this voucher. Transactions related to purchase returns come into this voucher. It can also record interest calculations. WhatRead More »
Cost centers and Cost categories are a part of advanced accounts. Let’s consider some examples to understand this feature. Salaries paid in cash to Raju of Stores department of Rajam branch – Rs. 10,000/- The company is paying the salary to Raju in this transaction. Raju is the employee of stores department in Rajam branch.Read More »
The key to open Purchase voucher is F9. If the company makes purchases, the transactions related to them should be recorded in this voucher. The purchase made by the company may be for borrow or cash. Also, the purchase made by the company may be in the form of goods or services. We can enterRead More »
The receipt voucher is done in when the company gets the amount. If the money comes through the sundry debtors or any income, the transaction will be enter in this voucher. The amount coming to the company can come in any form i.e. cash or bank cheque. F6 is the key to open the receiptRead More »
PAYMENT VOUCHER : This payment voucher is used for the expenses paid by the company and the dues paid to the lenders. The mode the company pays can be anything. This means that it can be paid by cash or by bank cheque. Or it can be an online payment. If the company makes payment,Read More »
INVENTORY VOUCHERS 1. PURCHASE ORDER : If our organization places an order to purchase goods or services, it should be recorded in this voucher. We have to specify the details in the order that how much quantity we needed and what items we needed etc. The key for Purchase order is CTRL + F9 2.Read More »
What is a voucher? Voucher is the input feature to record daily transactions in organization and thereby generate reports automatically. After entering the voucher accounting, inventory and payroll reports will be automatically generate according to the voucher type. But a voucher needs to be recorded, which means that the ledgers for the transactions need toRead More »