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 :
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
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