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How to pass journal entry in F7 in accounting vouchers in Tally
journal entry in F7 in accounting vouchers in Tally

How to pass journal entry in F7 in accounting vouchers in Tally

How to pass journal entry in F7 in accounting vouchers in Tally : it contain all the following entries :

Depreciation entries :

Example : depreciation on machine purchased on 1 April 20014 is Rs 10,000 cost on machine Rs 100000.

Deprication on machine A/c   Dr. 10,000

To Machine A/c  10,000

(being depreciation on machinery for the year adjusted )

Rectification entries :

Example 1.

Suppose the Salary paid Rs 10000 are posted wrongly to Rent A/c.

Salary a/c Dr 10,000

To Rent A/c 10,000

(being salary adjusted against rent a/c)

Example 2 :

Wages paid for installation of machine are posted to to wages A/c Rs 20,000

Note to make adjustment entry of above case following entry will be made

Machinery A/c Dr 20,000

To wages A/c 20,000

(being wages adjusted  to machinery a/c)

 

Provision entries :

Provision for bad debts is to created Rs 10000 on debtors.

Profit and Loss A/c 10,000

To Provision for bad debts A/c 10,000

(being provision for bad debts created )

Provision for bad debts A/c 10,000

To Debtors A/c 10,000

(being provision for bad debts created)

Provison entries also includes Expenses payable

Example

Salary payable to employee at the end of accouting year Rs 10,000

Here as we have write down our expense therefore

Salary A/c to be opened under Indirect expense

Salary Payable A/c to be opened under Provision group

journal entry will be made under F7 journal

Salary A/c Dr 10000

To salary payable A/c 10000

(being salary payable )

Fixed asset purchased on Credit 

Machine purchase during the year for production Rs 100,000 from Amit .

Machine A/c Dr. 100,000

To Amit    100,000

(being asset purchased on credit)

Entries of Tax payable

Adjustment of output VAT to input VAT

output VAT Rs. 10,000

To Input VAT Rs 1000

(being vat adjusted)

Entries of goods taken away for personal use 

Propritor taken away goods for personal use Rs 1000.

Drawing A/c Dr 1000

To purchase A/c 1000

(being goods taken away by proprietor for personal use)

Entries of goods taken away for charity and destroy by fire.

Goods destroy by fire Rs 1000 and given away as charity Rs 2000 and goods use as free sample Rs 3000.

Destroy by fire A/c 1000

Charity A/c 2000

Advertisement a/c 3000

To purchases a/c 6000

Discount received from supplier

Example discount on purchase of Goods is Rs 1000 .

It will be made in accounting voucher entry

Purchase A/c Dr 1000

To discount received A/c 1000

(being discount received from purchaser)

Discount allowed to customer 

It will be made in accounting voucher

Discount allowed A/c

To Sales A/c

 

See also : Accounting Voucher in Tally ERP 9

 

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