TALLY ERP :- “9.6.

4
“WITH”

“ GST ”
(GOODS AND SERVICE
TAX)
BY Y. HEMANT - KUMAR
MEANING OF ACCOUNTING
• Accounting Is The Process Of
Recording Day To Day , Time
To Time Business
Transaction In Accordance
With The Accounting Rules
And Process.
 OBJECTIVES OF ACCOUNTING
• To keep systematic record of business
transactions.
• To calculate profit and loss
• To know the exact reason leading to profit and
loss
• To prevent and detect errors and frauds.
• To provide information to various parties.
Need OF ACCOUNTING ?????????
• At the end of each year , all businessmen want
to know how much they have gained or lost
during the year , how much capital is invested
in the business at the end of the yr , how
much they are liable to pay , and to whom
they owe it. In order to attain such
information , it is essential to keep a complete
record of the entire business.
• By keeping a complete and systematic record of
each and every business dealing or transaction
one can know how much is the amount of
purchase ,how much is the amount of sale ,what
are his total expenses and what is the profit or
the loss incurred in business

• Importance of accounting records in increasing

day by day , now a days the properly maintained
accounts give the answer of number of question
,such as : what is the cost of production ??? Is
such cost reasonable or not ?? Can it be reduced
if so then in what manner??? What should be the
selling price in that manner?????
 Transaction
• Transaction is nothing but the process which
includes buying of goods selling of goods,
payment made to a particular party , payment
received from a particular party, any process
which includes transfer of money from one
person to another person it is called as
transaction, for exp as given below.
▪ Paid Rs 2000 to ram.
▪ Received Rs 4000 from ram.
▪ Purchase goods for 90000.
▪ Sold goods for Rs 8000.
 Types of transaction
• Cash transaction • Credit transaction
– Cash transaction is that
transaction in which all
the transaction , are
done in terms of cash
only quick transfer of
cash takes place between
the two party.
– For exp as follows
• Purchased a computer
for cash.
• Salary paid Rs 8000 in
cash.
– Credit –transaction is that
transaction in which all the
transaction are done on
credit basis any transaction
done its payment ,is not
made quickly as in case of
cash transaction ,its
payment is made due for
future payment.
– For exp as follow
• Purchased a car from ram.
• Purchase a mouse from
vivek.
 Basic accounting terms
• Capital :- The amount of money invested by a
proprietor to start a business is known as
capital .
• Asset :- The property of a working business
enterprise , for exe land , building , or a
particular “ item ” the use of which is the
main source of income of that running
business or enterprise, that item is termed as
asset of that company or business.
• Types of Assets
✓Fixed assets :- Fixed assets are those assets
which are held for continued use in the
business for the purpose of producing goods
and services , and are not meant for re sale.
▪ For exp– 1) land 2) building 3) plant
✓Current assets :- Current assets are those
assets which are already in the form of cash
or which the management want to convert it
into cash within one year .
▪ For exp 1) cash in hand 2) cash at bank 3) stock
✓Tangible assets :- All fixed assets which can
be touched and can be seen and can be sold are
termed as tangible assets ,in short term all
fixed assets are tangible assets.
▪ For exp 1) land 2) building 3)pant 4) machine.
✓Intangible Assets :- The assets which cannot
be touched and which cannot be seen is known
as intangible assets.
▪ For exp 1) goodwill 2) copyright