DIGITAL WORLD 2025-26, Transaction No.1 Journal Entry and Entry in TallyPrime

Practical Accounting Project on Proprietorship Trading Business

Learning Objective from this Post :

• Journal Entry for Capital Introduction in Cash by a Proprietor

• Company Creation using TallyPrime

• Company Feature Setting
  

• Proprietor's Capital A/c Ledger Creation using TallyPrime
  

• Receipt Voucher Entry in TallyPrime

Date : 01/04/2025 (Transaction No.1)

Mr. Sachin Kumar started a proprietorship Trading business with a Capital of ₹5,00,000/- by cash. 

Business Details with Address

Trade Name : DIGITAL WORLD 2025-26

Financial Year 2025-26, Assessment Year 2026-27

Address : Bhubaneswar, Khurda, Odisha, India, PIN - 751001

Constitution/Style of Business : Proprietorship

Nature of Business : Retail and Wholesale Trading of Computer, parts and accessories.

GSTIN - 21ABDAC5162K1ZM

Journal Entry :

Let's enter the above transaction using TallyPrime

Steps to enter in TallyPrime

Open TallyPrime

Select and press 'Enter' on 'Create Company'

Fill required details.

Company Name, Mailing Name, Address, State, Country, Contatc No. etc.(see image below)

Press 'Y' or 'Enter' to Accept/Save

or

Press 'Ctrl+A' to Accept/Save.

Set the Company Features as per needs.

Select 'Yes' to enable a feature and 'No' to disable a feature.

Select 'Yes' on 'Enable Goods and Services Tax(GST)' to enter GST details.

Company's GST details entry.

Press 'Y' or 'Enter' to Accept/Save.

Press 'Y' or 'Enter' to Accept/Save.

Company is ready for transaction Entry.

Steps for Ledger Creation and Voucher Entry for the below mentioned Journal Entry.

There is no need to create 'Cash A/c', because 'Cash' Ledger is already exist in TallyPrime.

Create Ledger 'Capital A/c' under group 'Capital Account'

On 'Gateway of Tally' Screen

Select and press 'Enter' on 'Create' or simply click on 'Create'

Select and press 'Enter' on 'Ledger'

Press 'F12' for configuration setup

Select 'Yes' on required options.

Press 'Y' or 'Enter' to Accept/Save.

Press 'Esc' for return to 'Gateway of Tally' Screen.

Press 'V' or select and press 'Enter' on 'Vouchers'

Press 'F6' or click on 'F6:Receipt' to come to Receipt Voucher mode.

Press 'F2' or click on 'F2:Date' to enter date of Voucher or Date of Transaction.

Select and press 'Enter' on 'Capital A/c' where 'To/Cr' shows.

Place Debit Ledger and Credit Ledger Accounts with amount as shown in the image below.

Now Voucher Entry for the above transaction is complete.