What is “Job Work in” Order Process? If an order comes from another company to our company for making any goods or for any services, the process is called “Job Work – In Process.“ What is “Job Work Out” Order Process ? If our company orders another company to make any goods or services, theRead More »
TDS is one of the modes of collection of Income Tax. You have to deduct TDS at the time of crediting to the party’s account or at the time of payment, whichever is earlier even though you have to deduct TDS for payment of advance to the party. Income tax rules requires that TDS toRead More »
ASSIGNMENT Enable required features of Payroll and create the following Create units (work) for payroll: Hour, Minute Create compound unit : 1 Hour = 60 Min Create attendance type Sick Leave (Leave with pay) Absent (Leave without pay) Overtime (Production) Create Payhead type Basic (On Flat Rate) DA (As compound value 50% on Basic) HRARead More »
WHAT IS DOUBLE ENTRY SYSTEM ? Double entry system is a well – organized and professional system. This system is free from errors. And comprehensive and ideal system too. The transactions are broached in recording both the aspects. They are debit and credit aspects. Every transaction has dual aspect in double entry system. When thereRead More »
Batch-Wise details is a part of advanced inventory management. Bath wise information useful where perishable goods like medicines, sea-food, dairy products (ex: ice -creams, butter milk) fruits, vegetables, flowers and meat , poultry etc. Batch-wise details is used widely in pharmaceutical industries as compared to to other sectors. We can track manufacturing dates and expiryRead More »
ASSIGNMENT Company purchase the following materials from Silver Plus Companies (State : Andhra Pradesh) with GST @ 5% on May – 01 – 2021 and reference number : spc/100 S.NO ITEM NAME QUANTITY RATE HSN CODE 1 Bricks 30,000 No.s Rs. 3.00 per No 69010010 2 Natural Sand 20,000 Tons Rs. 140 per Cu. FtRead More »
ASSIGNMENT Company received a job from Tech Industries to update their all desktop computers Company appointed Mr. Tarak to update their all computers Company purchased the following items with GST @ 12% and stored at Rajam godown.. Ref No: Pur/SS/001 from SS Technologies (State : Andhrapradesh) RAM – 15 Pcs @ Rs. 1,050/- CPU –Read More »
ASSIGNMENT Company has decided to produce a BODY LOTION. To produce that new product required raw materials are as follows Finished Goods : Body Lotion (U.O.M – ML) Raw Materials: (U.O.M – ML) For 1000ML of Body Lotion Aqua — 80 ML Glycerin – 33 ML Caprylic / Capric Triglyceride – 30 ML Isopropyl MyristateRead More »
ASSIGNMENT Company purchased the following items including GST Taxation from Techno Companies (State : Andhra Pradesh) with ref no : Pur/Tech/3400 and stored at Rajam Godown S.No Item Name Quantity Rate GST% 1 Item – A 20pcs 1500 5 2 Item – B 15pcs 2200 18 3 Item – C 35pcs 1400 18 4 ItemRead More »
ABOUT PURCHASE VOUCHER Purchase Voucher Key is F9 Use CTRL + H to change the mode to Item Invoice / Accounts Invoice / Voucher Mode Use Item Invoice to record the purchases with items. Use Accounts Invoice to record the purchases with services. Use Voucher mode to record the purchases in debit and credit mode.Read More »
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 »
Price List or Price levels is a part of advanced inventory in Tally Prime. And the Price list is also a part of Sales Management. Generally, companies sell products to consumers in wholesale, in retail, and exporting too. Sales voucher is the voucher to record sales transactions. If We sell goods in wholesale, the wholesaleRead More »
WHAT IS SALES ORDER ? If our company received an order from Sundry Debtors to sell goods or services, It should be recorded in this voucher. In the order, how many items have been ordered? Which items got the order ? All things like customer is asking for delivery of items should be specified. CTRLRead More »