KADG - T16 PURV2Journal Entry in TallyPrime with Final Accounts

Practical Accounting Project on Proprietorship Trading Business (T16 PURV2)

In this Practical Accounting Project, We are learning Journal Entry in all type of Digital Accounting Software, but as the Time constrain and Indian Scenario, we have taken the example of TallyPrime entry with screenshot and references here.

So, anyone can do the same transactions, as refer in this page with TallyPrime, which is also similar or little bit different in screen look only, if you choose any other Accounting Software like Zoho books, QuickBooks, BUSY, Vyapaar , Marg etc and many others. 

The Transaction Process, that are given step by step is almost same and perfect for Digital Accounting ecosystem.

Digital Books of Account using TallyPrime 

KA DIGITAL WORLD (KADG)

Transaction No.16(T16), Purchase Voucher No.2(PURV2) Entry in TallyPrime

Learning Objective from this Post :

• Journal Entry for credit purchase of Trading Goods (Inter-State Transaction) 

• Stock Item Creation on Invoice Entry Mode.

• Purchase Invoice Entry(Inventory) using TallyPrime.

Business Details with Address

Trade Name : KA DIGITAL WORLD

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

  Transaction No.16   

Date : 02/04/2025

Goods purchased from M/s.Taj Computer, Mumbai as per Invoice No.115 for ₹63,572.50

Journal Entry :

Steps to enter in TallyPrime

On Gateway of Tally Screen,

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

Press 'F9' or click on 'F9: Purchase' to go to Purchase Voucher Mode

Fill the required field like Party Name, Purchase Ledger etc.

Press 'Alt+C' to create Stock Item on 'Name of Item' column.

Likewise create and enter all the purchased Stock Items as per above Invoice.

 

Press 'Ctrl+A' or 'Y' or 'Enter' to Accept/Save Invoice.

Now Voucher Entry for the above transaction is Complete. 

One can check effect of this Entry on various Ledger Account and Statements.

Trial Balance :

Profit & Loss Account :

Balance Sheet :

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