Kalp Accounting Learning Articles

Practice Sheet - 12 (Transactions for the month of March' 2022) TRIMURTHY TRADERS (Prop : Mr. Surya Krishnamurthy)  Financial Year : 2021-22(April' 2021 to March' 2022) Assessment Year : 2022-23 (April' 2022 to March' 2023) Date : 31/03/2022 (Transaction No. 252) Depreciation charged on Fixed Assets : 40% on Computer, 10% on Furniture & Fixture, 15% on Motor Cycle. Journal Entry Let's see how to enter the above transaction in TallyPrime. Steps to enter in TallyPrime. Go to Voucher Entry Screen Press 'F7' or click on 'F7:Journal'  Press 'F2' or click on 'F2:Date' to enter Date of Voucher/Date of Transaction. Create Ledger Name 'Depreciation A/c' under group 'Indirect Expenses' Place Debit Ledger and Credit Ledger Accounts with amount as mentioned in the image below. Press 'Ctrl+A' to Accept/Save Voucher. Now Voucher Entry for the above transaction is Complete.  

Practice Sheet - 12 (Transactions for the month of March' 2022) TRIMURTHY TRADERS (Prop : Mr. Surya Krishnamurthy)  Financial Year : 2021-22(April' 2021 to March' 2022) Assessment Year : 2022-23 (April' 2022 to March' 2023) Date : 31/03/2022 (Transaction No. 251) Chq No-203510 for Rs.50,000/- received from Govind Electrical Traders, West Bengal against Inv No-13 dt.02/01/2022 towards outstanding due not yet deposited into Bank. Journal Entry Let's see how to enter the above transaction in TallyPrime. Steps to enter in TallyPrime. Go to Voucher Entry Screen Press 'F6' or click on 'F6:Receipt'  Press 'F2' or click on 'F2:Date' to enter Date of Voucher/Date of Transaction. Create Ledger Name 'Cheques in Hand A/c' under group 'Bank Accounts' Place Debit Ledger and Credit Ledger Accounts with amount as mentioned in the image below. Press 'Ctrl+A' to Accept/Save Voucher. Now Voucher Entry for the above transac

Practice Sheet - 12 (Transactions for the month of March' 2022) TRIMURTHY TRADERS (Prop : Mr. Surya Krishnamurthy)  Financial Year : 2021-22(April' 2021 to March' 2022) Assessment Year : 2022-23 (April' 2022 to March' 2023) Date : 31/03/2022 (Transaction No. 250) Amount paid to Advocate Basudev Nayak towards consultancy fees on Legal matters for ₹4,850/-. Journal Entry Let's see how to enter the above transaction in TallyPrime. Steps to enter in TallyPrime. Go to Voucher Entry Screen Press 'F5' or click on 'F5:Payment'  Press 'F2' or click on 'F2:Date' to enter Date of Voucher/Date of Transaction. Create Ledger Name : 'Legal Expenses A/c' under group 'Indirect Expenses' Place Debit Ledger and Credit Ledger Accounts with amount as mentioned in the image below. Press 'Ctrl+A' to Accept/Save Voucher. Now Voucher Entry for the above transaction is Complete.

Practice Sheet - 12 (Transactions for the month of March' 2022) TRIMURTHY TRADERS (Prop : Mr. Surya Krishnamurthy)  Financial Year : 2021-22(April' 2021 to March' 2022) Assessment Year : 2022-23 (April' 2022 to March' 2023) Date : 31/03/2022 (Transaction No. 249) Credit Note No-1 for ₹10,644.48 issued to Maa Electrical Pvt. Ltd, Odisha towards goods return against Inv No-17 dt.01/03/2022. See the Credit Note details below. Journal Entry Let's see how to enter the above transaction in TallyPrime. Steps to enter in TallyPrime. On GOT Screen, Press 'V' or select and press 'Enter Key' on 'Vouchers' Press 'Alt+F6' or click on 'F10:Other Vouchers', then select and press 'Enter Key' on 'Credit Note  Alt+F6' Press 'F2' to enter Date of Voucher/Date of Transaction. Enter Party Name 'Maa Electricals Pvt.Ltd,Odisha A/c'  Create Ledger Name 'Sales Return A/c' under group 'Sales Account'

Practice Sheet - 12 (Transactions for the month of March' 2022) TRIMURTHY TRADERS (Prop : Mr. Surya Krishnamurthy)  Financial Year : 2021-22(April' 2021 to March' 2022) Assessment Year : 2022-23 (April' 2022 to March' 2023) Date : 31/03/2022 (Transaction No. 248) ₹6,750/- credited by Axis Bank to Fixed Deposit A/c towards interest on FD after ITDS (Income Tax Deducted at Source) for ₹750/-. Journal Entry Let's see how to enter the above transaction in TallyPrime. Steps to enter in TallyPrime. Go to Voucher Entry Screen Press 'F7' or click on 'F7:Journal'  Press 'F2' or click on 'F2:Date' to enter Date of Voucher/Date of Transaction. Create Ledger Name 'Interest on FD A/c' under group 'Indirect Income' Create Ledger Name 'TDS A/c' under group 'Current Assets' Place Debit Ledger and Credit Ledger Accounts with amount as mentioned in the image below. Press 'Ctrl+A' to Accept/Save Voucher. Now

Practice Sheet - 12 (Transactions for the month of March' 2022) TRIMURTHY TRADERS (Prop : Mr. Surya Krishnamurthy)  Financial Year : 2021-22(April' 2021 to March' 2022) Assessment Year : 2022-23 (April' 2022 to March' 2023) Date : 31/03/2022 (Transaction No. 247) Salary for the month of March for ₹10,000/- incurred but not yet paid. Journal Entry Let's see how to enter the above transaction in TallyPrime. Steps to enter in TallyPrime. Go to Voucher Entry Screen Press 'F7' or click on 'F7:Journal'  Press 'F2' or click on 'F2:Date' to enter Date of Voucher/Date of Transaction. Create Ledger Name 'Salary Payable A/c' under group 'Current Liabilities' Place Debit Ledger and Credit Ledger Accounts with amount as mentioned in the image below. Press 'Ctrl+A' to Accept/Save Voucher. Now Voucher Entry for the above transaction is Complete.  

Practice Sheet - 12 (Transactions for the month of March' 2022) TRIMURTHY TRADERS (Prop : Mr. Surya Krishnamurthy)  Financial Year : 2021-22(April' 2021 to March' 2022) Assessment Year : 2022-23 (April' 2022 to March' 2023) Date : 31/03/2022 (Transaction No. 246) Amount received from Chand Enterprises Pvt. Ltd, Delhi vide Chq No-102425 for ₹4,82,532.60 and deposited into HDFC Bank Cash Credit A/c towards outstanding due. Journal Entry Let's see how to enter the above transaction in TallyPrime. Steps to enter in TallyPrime. Go to Voucher Entry Screen Press 'F6' or click on 'F6:Receipt'  Press 'F2' or click on 'F2:Date' to enter Date of Voucher/Date of Transaction. Place Debit Ledger and Credit Ledger Accounts with amount as mentioned in the image below. Press 'Ctrl+A' to Accept/Save Voucher. Now Voucher Entry for the above transaction is Complete.  

Practice Sheet - 12 (Transactions for the month of March' 2022) TRIMURTHY TRADERS (Prop : Mr. Surya Krishnamurthy)  Financial Year : 2021-22(April' 2021 to March' 2022) Assessment Year : 2022-23 (April' 2022 to March' 2023) Date : 31/03/2022 (Transaction No. 245) Amount received from Jagannath Sales, Odisha for ₹4,69,517.28 by RTGS to HDFC Bank Cash Credit Account towards outstanding due. Journal Entry Let's see how to enter the above transaction in TallyPrime. Steps to enter in TallyPrime. Go to Voucher Entry Screen Press 'F6' or click on 'F6:Receipt'  Press 'F2' or click on 'F2:Date' to enter Date of Voucher/Date of Transaction. Place Debit Ledger and Credit Ledger Accounts with amount as mentioned in the image below. Press 'Ctrl+A' to Accept/Save Voucher. Now Voucher Entry for the above transaction is Complete.

Practice Sheet - 12 (Transactions for the month of March' 2022) TRIMURTHY TRADERS (Prop : Mr. Surya Krishnamurthy)  Financial Year : 2021-22(April' 2021 to March' 2022) Assessment Year : 2022-23 (April' 2022 to March' 2023) Date : 31/03/2022 (Transaction No. 244) Goods sold to Jagannath Sales, Odisha for ₹4,69,517.28 as per Invoice No-19. Item/Product/Taxable Value ₹4,04,916/-, CGST ₹32,300.64 and SGST ₹32,300.64 Total Invoice Value is ₹4,69,517.28(i.e Taxable Value ₹4,04,916 + CGST ₹32,300.64 + SGST ₹32,300.64). See the Invoice details below. Journal Entry Let's see how to enter the above transaction in TallyPrime. Steps to enter in TallyPrime. On GOT Screen, Press 'V' or select and press 'Enter Key' on 'Vouchers' Press 'F8' or click on 'F8:Sales' Press 'F2' to enter Date of Voucher/Date of Transaction. Enter Party A/c Name: 'Jagannath Sales, Odisha A/c' Sales Ledger: 'Sales A/c' Stock items  an

Practice Sheet - 12 (Transactions for the month of March' 2022) TRIMURTHY TRADERS (Prop : Mr. Surya Krishnamurthy)  Financial Year : 2021-22(April' 2021 to March' 2022) Assessment Year : 2022-23 (April' 2022 to March' 2023) Date : 31/03/2022 (Transaction No. 243) Interest charged on HDFC Bank Cash Credit Account by bank for ₹39,093/-. Journal Entry Let's see how to enter the above transaction in TallyPrime. Steps to enter in TallyPrime. Go to Voucher Entry Screen Press 'F5' or click on 'F5:Payment'  Press 'F2' or click on 'F2:Date' to enter Date of Voucher/Date of Transaction. Place Debit Ledger and Credit Ledger Accounts with amount as mentioned in the image below. Press 'Ctrl+A' to Accept/Save Voucher. Now Voucher Entry for the above transaction is Complete.

Practice Sheet - 12 (Transactions for the month of March' 2022) TRIMURTHY TRADERS (Prop : Mr. Surya Krishnamurthy)  Financial Year : 2021-22(April' 2021 to March' 2022) Assessment Year : 2022-23 (April' 2022 to March' 2023) Date : 31/03/2022 (Transaction No. 242) Amount paid towards petrol for vehicle for ₹110/-. Journal Entry Let's see how to enter the above transaction in TallyPrime. Steps to enter in TallyPrime. Go to Voucher Entry Screen Press 'F5' or click on 'F5:Payment'  Press 'F2' or click on 'F2:Date' to enter Date of Voucher/Date of Transaction. Place Debit Ledger and Credit Ledger Accounts with amount as mentioned in the image below. Press 'Ctrl+A' to Accept/Save Voucher. Now Voucher Entry for the above transaction is Complete.  

Practice Sheet - 12 (Transactions for the month of March' 2022) TRIMURTHY TRADERS (Prop : Mr. Surya Krishnamurthy)  Financial Year : 2021-22(April' 2021 to March' 2022) Assessment Year : 2022-23 (April' 2022 to March' 2023) Date : 31/03/2022 (Transaction No. 241) ₹4,600/- paid towards staff food expenses. Journal Entry Let's see how to enter the above transaction in TallyPrime. Steps to enter in TallyPrime. Go to Voucher Entry Screen Press 'F5' or click on 'F5:Payment'  Press 'F2' or click on 'F2:Date' to enter Date of Voucher/Date of Transaction. Place Debit Ledger and Credit Ledger Accounts with amount as mentioned in the image below. Press 'Ctrl+A' to Accept/Save Voucher. Now Voucher Entry for the above transaction is Complete.  

Practice Sheet - 12 (Transactions for the month of March' 2022) TRIMURTHY TRADERS (Prop : Mr. Surya Krishnamurthy)  Financial Year : 2021-22(April' 2021 to March' 2022) Assessment Year : 2022-23 (April' 2022 to March' 2023) Date : 31/03/2022 (Transaction No. 240) Amount paid to Lily Book Store as per CM No-3215 towards purchase of office stationery for ₹233/-. Journal Entry Let's see how to enter the above transaction in TallyPrime. Steps to enter in TallyPrime. Go to Voucher Entry Screen Press 'F5' or click on 'F5:Payment'  Press 'F2' or click on 'F2:Date' to enter Date of Voucher/Date of Transaction. Place Debit Ledger and Credit Ledger Accounts with amount as mentioned in the image below. Press 'Ctrl+A' to Accept/Save Voucher. Now Voucher Entry for the above transaction is Complete.

Practice Sheet - 12 (Transactions for the month of March' 2022) TRIMURTHY TRADERS (Prop : Mr. Surya Krishnamurthy)  Financial Year : 2021-22(April' 2021 to March' 2022) Assessment Year : 2022-23 (April' 2022 to March' 2023) Date : 31/03/2022 (Transaction No. 239) Amount paid to Mr. Rakesh Das towards Rent for the month of March’ 2022 for ₹4,000/-. Journal Entry Let's see how to enter the above transaction in TallyPrime. Steps to enter in TallyPrime. Go to Voucher Entry Screen Press 'F5' or click on 'F5:Payment'  Press 'F2' or click on 'F2:Date' to enter Date of Voucher/Date of Transaction. Place Debit Ledger and Credit Ledger Accounts with amount as mentioned in the image below. Press 'Ctrl+A' to Accept/Save Voucher. Now Voucher Entry for the above transaction is Complete.  

Practice Sheet - 12 (Transactions for the month of March' 2022) TRIMURTHY TRADERS (Prop : Mr. Surya Krishnamurthy)  Financial Year : 2021-22(April' 2021 to March' 2022) Assessment Year : 2022-23 (April' 2022 to March' 2023) Date : 02/03/2022 (Transaction No. 238) Amount charged by Axis Bank Current Account for ₹147/- towards service charges. Journal Entry Let's see how to enter the above transaction in TallyPrime. Steps to enter in TallyPrime. Go to Voucher Entry Screen Press 'F5' or click on 'F5:Payment'  Press 'F2' or click on 'F2:Date' to enter Date of Voucher/Date of Transaction. Place Debit Ledger and Credit Ledger Accounts with amount as mentioned in the image below. Press 'Ctrl+A' to Accept/Save Voucher. Now Voucher Entry for the above transaction is Complete.  

Practice Sheet - 12 (Transactions for the month of March' 2022) TRIMURTHY TRADERS (Prop : Mr. Surya Krishnamurthy)  Financial Year : 2021-22(April' 2021 to March' 2022) Assessment Year : 2022-23 (April' 2022 to March' 2023) Date : 02/03/2022 (Transaction No. 237) Goods sold to Chand Enterprises Pvt. Ltd, Delhi for ₹5,26,399.20 as per Invoice No-18. Item/Product/Taxable Value ₹4,24,440/-, IGST ₹1,01,959.20 Total Invoice Value is ₹5,26,399.20(i.e Taxable Value ₹4,24,440 + IGST ₹1,01,959.20). See the Invoice details below. Journal Entry Let's see how to enter the above transaction in TallyPrime. Steps to enter in TallyPrime. On GOT Screen, Press 'V' or select and press 'Enter Key' on 'Vouchers' Press 'F8' or click on 'F8:Sales' Press 'F2' to enter Date of Voucher/Date of Transaction. Create Party Name 'Chand Enterprises Pvt.Ltd, Delhi A/c' under Group 'Sundry Debtors' Select and Enter Party A/c Name &#

Practice Sheet - 12 (Transactions for the month of March' 2022) TRIMURTHY TRADERS (Prop : Mr. Surya Krishnamurthy)  Financial Year : 2021-22(April' 2021 to March' 2022) Assessment Year : 2022-23 (April' 2022 to March' 2023) Date : 02/03/2022 (Transaction No. 236) ₹7,500/- paid towards Advance Income Tax for the A.Y-2022-23 vide e-challan No-INB0523246 from Axis Bank Current Account. Journal Entry Let's see how to enter the above transaction in TallyPrime. Steps to enter in TallyPrime. Go to Voucher Entry Screen Press 'F5' or click on 'F5:Payment'  Press 'F2' or click on 'F2:Date' to enter Date of Voucher/Date of Transaction. Create Ledger Name 'Advance Income Tax A/c' under group 'Capital Account' Place Debit Ledger and Credit Ledger Accounts with amount as mentioned in the image below. Press 'Ctrl+A' to Accept/Save Voucher. Now Voucher Entry for the above transaction is Complete.