Tally 3

Index for Basic Accounting Software Lab Project Report
Sl. Description Page

No. No.
1 Cover page
Index page
Certificate
Declaration
Acknowledgement
2 Basic Accounting Software Lab
a. Hardware Requirement details
b. Software Requirement details
3 Introduction to Accounting Software ‘TALLY.ERP 9’
4 Screen Shots and Descriptions
a. Installation of Tally (Screenshots)
b. Opening of Tally (Description and screen shots)
c. Details of Working in Tally (Description and screen
shots)
5 Question and Solution on creation a new company procedure on
Tally software application along with Basic Configurations
(Screenshots)
6 Question and solution on Tally software application related to
creation of Ledgers, posting Journal entries through vouchers
and Trial Balance (screenshots)
7 Questions and solution on Maintenance of cash Book
8 Question and solution on Reconciliation of Cash Book with
Bank Statements. (Screenshots)
9 Questions and solution on Inventory or Stock (screenshots)
10 Questions and solution on Fixed Assets Valuation (screenshots)
11 Question and solution on Generation of Financial Reports
(Screenshots)
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BASIC ACCOUNTING SOFTWARE LAB PROJECT REPORT
SUBMITTED TOWARDS THE PARTIAL FULFILLMENT OF
BACHELOR OF COMMERCE (HONOURS)
BASIC ACCOUNTING SOFTWARE FOR COMMERCE LAB

PROJECT REPORT
Batch: 2022-2025
Submitted By: PROJECT GUIDE
Name of student:Ameesha Pal Name:Bhanuj Sobti
Enrollment No:02419588822 Designation: Assistant professor
DON BOSCO INSTITUTE OF TECHNOLOGY

(Affiliated to Guru Gobind Singh Indraprastha University, New Delhi)
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CERTIFICATE
TO WHOM SO EVER IT MAY CONCERN
This is to certify that the Research Methodology for Commerce project work “Basic
Accounting Software Lab Project” made by Ameesha
pal,B.C(Hons),02419588822 is an authentic work carried out by his/her under
guidance and supervision of Project by Bhanuj Sobti
The project report submitted has been found satisfactory for the partial fulfillment
of the degree of Bachelor of Commerce (Honours).
Project Supervisor
Signature
Name
3|Page
ACKNOWLEDGEMENT
It is in particular that I am acknowledging my sincere feeling towards my mentors who graciously gave me
their time and expertise.
They have provided me with the valuable guidance, sustained efforts, and friendly approach. It would have
been difficult to achieve the results in such a short span of time without their help.
I deem it my duty to record my gratitude towards the Bhanuj sobti who devoted his/her precious time to
interact, guide and gave me the right approach to accomplish the task and also helped me to enhance my
knowledge and understanding of the project.
Signature:
Name of Student:
ameeshapal
Enroll. No:
02419588822
Course:
B.Com(Hons)
Class/Section:
Semester:3rd
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DECLARATION
I hereby declare that the following documented Project report titled “Basic Accounting Software Lab
Project” is an original and authentic work done by me for the partial fulfillment of Bachelors of Commerce
(Honours) degree program.
I hereby certify that all the Endeavour put in the fulfillment of the task are genuine and original to the best of
my knowledge & I have not submitted it earlier elsewhere.
Signature:
Name of Student:
ameeshapal
Enrollment No.:
02419588822
Course:
B.Com(hons)
Semester: 3rd
BASIC ACCOUNTING SOFTWARE

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Creating a basic accounting software lab involves the careful orchestration of fundamental
elements to provide an effective and educational environment. The lab should be equipped
with essential accounting software, offering students hands-on experience with tasks such
as ledger entries, financial statement generation, and basic bookkeeping. An intuitive user
interface is crucial for ease of learning, ensuring that students can navigate and utilize the
software efficiently. Collaborative functionalities could also be incorporated to encourage
teamwork, as accounting often involves collaborative efforts within an organization.
Overall, a well-designed accounting software lab provides a foundational platform for
students to develop the practical skills necessary for a successful career in accounting and
finance.
HARDWARE FREQUIREMENT DETAILS
Hardware requirements play a crucial role in ensuring the smooth functioning of

software and overall system performance. The specific hardware requirements can vary
depending on the software or application you're using. Here's a general overview of the key
aspects to consider:
Processor (CPU):
Specify the type and speed of the processor required.Certain applications, especially those
involving simulations or data-intensive processes, may demand a higher-end processor.
 Memory (RAM):
Determine the amount of RAM needed for optimal performance.Memory requirements
are often influenced by the size and complexity of data being processed.
 Storage (Hard Drive/SSD):

Specify the minimum storage capacity required.Consider the type of storage medium
(traditional hard drive or SSD) based on performance needs.
 Graphics Card (GPU):

Some applications, particularly in graphics-intensive tasks or scientific simulations, may
require a dedicated graphics card.Specify the GPU model and memory requirements if
applicable.
 Display:
Specify the minimum screen resolution and size required for optimal user experience.
Consider additional display requirements for specific tasks, such as dual monitors.
 Network Interface Card (NIC):

If the application involves network operations, ensure compatibility with commo network
interfaces.
 Input Devices:
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Specify any specific input devices required, such as a mouse, keyboard, or other
peripherals.
 Operating System (OS):

Clearly outline the compatible operating systems for the software.Verify whether the
software is compatible with Windows, macOS, Linux, or other specific operating systems.
 Connectivity:
Identify any specific ports or connectivity requirements, such as USB, HDMI, or other
interfaces.
SOFTWARE REQUIREMENT DETAIL
Software requirements are essential specifications that define the functionalities and
characteristics a software application must possess to meet its intended purpose. These
requirements guide the development, testing, and deployment phases of the software
development life cycle. Here's a breakdown of key components in software requirements:
Functional Requirements:
Specify the core functionalities the software must perform.
Define input and output behaviors, user interactions, and system responses.
Non-Functional Requirements:
Address qualities beyond specific functions, such as performance, security, usability, and
reliability.
Define constraints, such as response times, system availability, and data integrity.
User Interface (UI) Requirements:

Outline the design and layout of the user interface.Specify navigation, menus, buttons, and
overall user experience.
Performance Requirements:
Define criteria related to response times, throughput, and resource usage.
Address scalability and the ability to handle a certain number of concurrent users or
transactions.
Compatibility Requirements:
Specify the compatibility of the software with different operating systems, browsers, or
third-party software.Address backward and forward compatibility concerns.
Security Requirements:
Define measures to ensure data integrity, confidentiality, and system access control.
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Address encryption, authentication, and authorization mechanisms.
Database Requirements:
Specify database-related aspects, including data storage, retrieval, and management.
Define database schema, relationships, and data constraints.
Integration Requirements:
Specify how the software will integrate with other systems or components.
Define data exchange formats, communication protocols, and APIs.
Testing Requirements:
Define testing criteria, including test cases, scenarios, and acceptance criteria.
Specify performance testing, security testing, and other relevant testing types.
Documentation Requirements:
Specify the documentation needed for users, administrators, and developers.
Address user manuals, system architecture documentation, and code documentation.
Maintenance and Support Requirements:

Define expectations for ongoing maintenance and support.Specify update procedures, bug
fixes, and user support mechanisms.
Legal and Compliance Requirements:

Address legal considerations, such as licensing agreements and compliance with industry
regulations.Ensure the software adheres to relevant standards and guidelines.
User Training and Support:

Specify any training materials or support mechanisms for end-users.
Address the level of user expertise assumed for effective software usage.
User Acceptance Criteria:

Clearly define the criteria that must be met for the software to be accepted by end-users.
Outline specific scenarios and expected outcomes for user acceptance testing.
Introduction to Accounting Software ‘TALLY.ERP 9
Step 1: Launch Tally. ERP 9
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Step 2: Select "Create Company"
Step 3: Company Creation Form
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Step 4: Enter Company Name and Address
Step 5: Set Financial Year and Books Beginning Date
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Step 6: Select the Appropriate Statutory Compliance
Tally.ERP 9 supports different statutory compliance requirements based on your location and business
type. You'll need to select the relevant options, such as VAT, GST, TDS, etc., and configure them as
needed.
Step 7: Provide Security Control Information
Step 8: Enable/Disable Features

You can enable or disable various features based on your business requirements. These features include
inventory management, order processing, job costing, etc.
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Step 9: Accept and Save
Step 10: Confirmation
Q2: Write the steps to create ledgers for the transactions given and also pass the following
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journal entries in appropriate vouchers: -
Creating ledger:
If created number of ledger

Name of ledgers group
Cash Cash in hand
SBI a/c Bank A/C
PNB a/c Bank A/C
Furniture Fixed assets
Machinery Fixed assets
Goods purchased Sundry creditors
Goods sold Sundry debtors
Discount received Indirect income
Good returned Purchase return
Discount allowed Indirect expense
Personal use drawing
Depreciation Indirect expense
Loan Secured loan
Interest charge Indirect expense
Investment investments
Loan paid Loan and advances
JOURNAL ENTRIES
1.Business started with cash Rs. 20,00,000
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DATE PARTICULAR P.F DR CR
Cash account. Dr 20,00,000
20,00,000
To Capital account.
(Being business started with cash)
2. Cash deposited in SBI a/c Rs. 10,00,000

. SBI's account. Dr 10,00,000
10,00,000
To Cash account.
(Being cash deposited in SBI)
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3. Cash deposited in PNB a/c Rs. 5,00,000
PNB's account. Dr 5,00,000
To Cash account 5,00,000
(Being cash deposited in PNB)
4. Furniture purchased payment made by SBI cheque Rs. 1,00,000
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Furniture account Dr 1,00,000
To SBI's account. 1,00,000
(Being Furniture purchased from cheque)
5. Machinery purchased from Tarun Rs. 1,50,000

Machinery account. Dr 1,50,000
1,50,000
To Tarun’s account.
(Being Furniture purchased from Tarun on
credit)
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6. Goods purchased from Harish Rs. 50,000
Purchase account. 50,000
To Harish’s account. 50,000
(Being goods purchased from Harish)
7. Goods sold to Jai Rs. 2,00,000.

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. Jai’s account. 2,00,000
To Good sold account 2,00,000
(Being good sold to jai)
8. Goods returned to Harish Rs 1000.

Harish’s account. 1000
To purchase return account 1000
(Being good returns to Harish)
9. Rs. 45,000 paid to Harish in full settlement of his account. (Discount received = 4,000).
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Harish’s account. 49,000
To cash account. 45,000
4,000
To discount received account.
(Being cash paid to Harish and received
discount
10. Goods returned by Jai Rs. 10,000

Goods returned account. 10,000
To Jai’s account. 10,000
(Being good returned by jai)
11. Rs. 1,80,000 cheque (PNB a/c) received from Jai in full settlement. (Discount allowed
= 10,000).
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PNB’s account. 1,80,000
Discount allowed account. 10,000
1,90,000
To Jai’s account.
(Being money received from jai and allowed
discount)
12. Cash withdrawn from SBI for personal use Rs. 5,000.
Drawing’s account. 5,000
To SBI account. 5,000
(Being money withdrawn for personal use)
13. Depreciation on furniture Rs. 10,000.

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Depreciation account. 10,000
To Furniture account. 10,000
(Being depreciation charged from Furniture)
14. Loan taken from ICICI Bank deposited in SBI Rs. 1,00,000
SBI account. 1,00,000
To loan account. 1,00,000
(Being loan taken from ICICI bank)
15. Interest charged by ICICI Rs. 10,000.

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Interest on loan account. 10,000
To loan account. 10,000
(Being Interest on loan charges)
16. Loan paid back along with interest to ICICI Rs. 1,10,000 through SBI
Loan account. 1,10,000
To SBI account. 1,10,000
(Being loan paid back with interest)
17. Loss of goods by theft Rs. 1,000.

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Loss by theft account. 1,000
To Goods account. 1,000
(Being loss due to theft of goods)
18. Investment made in Reliance Info COMM by SBI cheque Rs. 70,000
Investments account. 70,000
To SBI account.
70,000
(Being investment made in Reliance info
com)
3. Record the following transactions in the cash book
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Date Particulars Amount(Rs)
Oct 1 Cash balance 200
Oct. 01 Bank balance 500
Oct. 02 Cash received from sale of shares 12,000
Oct. 02 Paid into Bank 10,000
Oct. 03 Paid Amrit by cheque 2,400
Oct. 03 Received cheque from Amit 1,960
Oct. 03 Allowed him discount 40
Oct. 04 Paid wages by cash 500
Oct. 10 Paid Amit's cheque into Bank
Oct. 16 Bought goods for cash 1,200
Oct. 18 Paid for stationery cash 300
Oct. 19 Paid Hema by cheque 750
Oct. 19 Discount allowed by her 50
Oct. 19 Drawn from Bank 640
Oct. 20 Received from cash sales 340
Oct. 24 Cash withdrawn for personal use 400
Oct. 24 Received from Dev Anand
Allowed him discount 3,600
150
Oct. 25 Paid into bank 400
Oct. 26 Issued cheques for purchases 400
Paid salary by cash 650
Oct. 27 Received cheque from Sanjay and paid into Bank 800
Drew cheque for office use 600
Oct 1 Cash balance 200
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Oct. 01 Bank balance 500
Oct. 02 Cash received from sale of shares 12,000

Date Particular P.f Dr Cr
Oct 02 Cash account. 12,000

To sale of shares account 12,000
(Being cash received from sale of
shares)
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Oct. 02 Paid into Bank 10,000
Oct 02 Bank account 10,000
To cash account 10,000
(Being cash paid into bank)
Oct. 03 Paid Amrit by cheque 2,400

Oct 03 Amrit's account 2,400
To bank account 2,400
(Being payment made to Amrit by
cheque)
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Oct. 03 Received cheque from Amit 1,960
Oct. 03 Allowed him discount 40
Oct 03 Bills receivable account 1,960
Discount allowed account 40
To Amit's account 2,000
(Being cheque received from Amit
and allowed him discount)
Oct. 04 Paid wages by cash 500

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Oct .04 Wages account 500
To cash account 500
(Being wages paid by cash)
Oct. 16 Bought goods for cash 1,200

Oct. 16 Purchase account 1,200

To cash account 1,200
(Being goods bought for cash)
Oct. 18 Paid for stationery cash 300

Oct. 18 Stationary account 300
To cash account 300
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(Being cash paid for stationary)
Oct. 19 Paid Hema by cheque 750

Oct. 19 Discount allowed by her 50
Oct. 19 Hema’s account 800

To Discount received account 50
To Bank account
750
(Being paid to Hema and received
discount of ₹50)
Oct. 19 Drawn from Bank 640

Oct 19 Cash account 640

To Bank account 640
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(Being cash drawn from bank)
Oct. 20 Received from cash sales 340

Oct. 20 Cash account 340
To sales account 340
(Being cash received from sales)
Oct. 24 Cash withdrawn for personal use 400

Oct. 24 Drawing’s account 400

To cash account 400
(Being cash withdrawn for personal
use)
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Oct. 24 Received from Dev Anand 3600
Allowed him discount 150
Oct. 24 Cash account 3600

Discount allowed account 150
To Dev Anand’s account
3750
(Being payment received from Dev
Anand and allowed discount to him)
Oct. 25 Paid into bank 400

Oct 25 Bank account 400

To cash account 400
(Being cash deposited into bank)
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Oct. 26 Issued cheques for purchases 400
Paid salary by cash 650
To cash account 400
(Being cash deposited into bank)
Salary account
To cash account 650
(Being salary paid by cash) 650
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Oct. 27 Received cheque from Sanjay and paid into Bank 800
Drew cheque for office use 600

To Sanjay’s account 800
(Being cheque received from Sanjay
and paid into bank)
Office account 600

To Bank account 600
(Being cheque draw for office use)
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4. Bank Reconciliation Statement
Particulars Dr Cr
Capital 350000
Cash 100000
Indian bank 300000
Loan liability 150000
Bank o/d 48000
Furniture 30000
Good will 15000
Bills payable 200000
Land & building 50000
Bills receivable 130000
Bank deposit 100000
SUNDRY CREDITORS:
a) Mr.WIN INDIA Was Rs.5000 Bill.No.Ac75
b) Mr. COOL DREAM Was Rs.7000 Bill.No.AG085
SUNDRY DEBTORS:
a) Mr. FIVE STAR Ltd Rs.15000 Bill.No,AG076
b) Mr. LINE MARK Ltd Rs.20000TRANSACTION DURING THE PERIOD OF APRIL:
1. Paid Telephone Charge Rs.2000 By Cheque [Vodafone] Ch.No.25131
2. Amount Paid to Mr. Win India Was Rs.5000 Against Bill. No. AC075.
Ch.No. 25132
3. Commission Received by Cheque Rs.10000 Ch.No.75461
4. 4 Month Salary Rs.10000 By Cheque Paid Ch.No.25133
5. Amount Received M/r. Five Star Rs.15000 By Cheque Discount allowed Rs. 750.Ch.No.42678
6. Dividend Received Rs.29000 By Cheque .Ch.No.13555(Post dated at 9.4.2009)
10 Paid Rent by Cheque Rs.4500 .Ch.No.25134
11 Amount Paid to Mr. Cool Dream Rs.7000 By Cheque Discount Received Rs.700 Ch.No.25135
16. Interest Received by Cheque Rs.2000 Ch.No.41596
17. Amount Received Mr. Lion Mark Was Rs.19000 Discount Allowed Rs.1000 By Cheque
Ch.No.89576
19. Received Branch Income Rs. 25000 By Cheque .Ch.No. 89156
20. Paid Trade Expenses by Cheque Rs.2500 Ch.No.25137
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25. Paid to General Expenses Rs.6000 Ch.No.25138
26. Received House Rent Rs.3000 Ch.No.695472
27. With Draw From Bank Rs.7000 Ch.No.25139
30. Deposit to Bank Rs.9000
Bank Statement for The Month of April:
4.Bank Reconciliation Statement

Capital 350000
Cash 100000
Indian bank 300000
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SUNDRY CREDITORS:
a) Mr.WIN INDIA Was Rs.5000 Bill.No.Ac75
b) Mr. COOL DREAM Was Rs.7000 Bill.No.AG085
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SUNDRY DEBTORS:
a) Mr. FIVE STAR Ltd Rs.15000 Bill.No,AG076
b) Mr. LINE MARK Ltd Rs.20000
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TRANSACTION DURING THE PERIOD OF APRIL:
Paid Telephone Charge Rs.2000 By Cheque [Vodafone] Ch.No.25131
Telephone charge dr 2000
To Indian bank
2000
(being paid telephone charges)
2. Amount Paid to Mr. Win India Was Rs.5000 Against Bill. No. AC075.
Ch.No. 25132
Mr. win India dr 5000
To Indian bank 5000
(being amount paid to mr win india)
3. Commission Received by Cheque Rs.10000 Ch.No.75461
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10000
Indian bank dr 10000
To commission
(being commission received )
4. 4 Month Salary Rs.10000 By Cheque Paid Ch.No.25133

Salary A/C dr 10000

To indian bank 10000
(being 4 months salary paid)
5. Amount Received M/r. Five Star Rs.15000 By Cheque Discount allowed Rs. 750.Ch.No.42678
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Discount allowed dr 750
To mr five star ltd 15750
6. Dividend Received Rs.29000 By Cheque .Ch.No.13555(Post dated at 9.4.2009)


To dividend 29000
(being dividend received)
10 Paid Rent by Cheque Rs.4500 .Ch.No.25134

Rent a/c dr 4500

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Indian bank 4500
11 Amount Paid to Mr. Cool Dream Rs.7000 By Cheque Discount Received Rs.700 Ch.No.25135
Mr cool dream dr 7700

Indian bank 7000
Discount received 700
(being amount paid to mr cool dream)
16. Interest Received by Cheque Rs.2000 Ch.No.41596

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Indian bank dr 2000
To interest 2000
(being interest received )
17. Amount Received Mr. Line Mark Was Rs.19000 Discount Allowed Rs.1000 By Cheque Ch.No.89576

Discount allowed dr 1000
To mr. line mark 20000
(being amount received from mr line
mark)
19. Received Branch Income Rs. 25000 By Cheque. Ch.No. 89156

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To income 25000
(being received branch income)
20. Paid Trade Expenses by Cheque Rs.2500 Ch.No.25137

Trade expenses dr 2500

To indian bank 2500
25. Paid to General Expenses Rs.6000 Ch.No.25138

General expenses dr 6000

To indian bank 6000
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(being paid general expenses)
26. Received House Rent Rs.3000 Ch.No.695472

Indian bank dr 3000

To rent 3000
(being received house rent)
27. With Draw From Bank Rs.7000 Ch.No.25139

Cash dr 7000
To indian bank 7000
(being withdraw from bank)

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30. Deposit to Bank Rs.9000
Indian bank dr 9000

Cash 9000
(being cash deposited into bank)
Total BRS
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5)Pass the Journal entries of the following transactions for calculating the interest:
Calculations to be done on the basis of 10 days.
Transactions:
1. Purchased from Sridhar 40000 B.No 25 Interest 2%P.M
2. Purchased from Srikanth 35000 B.No 85 Interest 24%P.A
3. Sold goods to Mohan 35000 (Trade Discount 5%) B.No 1 Interest
2%P.M
4. Purchased from Ramu 42000 B.No 33 Interest 2%P.M
5. Returned goods to Srikanth 2000 B.No 85
6. Goods returned by Mohan 1000 B.No 1
7. Sold to Sridevi Stores 20000 B.No 2 Interest 3%P.M
8. Sold to Sireesha’s Stall 10000 B.No 3 Interest 2%P.M
9. Returns goods to Sridhar 4000 B.No 25
10. Bought goods from Srikanth for cash 50000
11. Purchased from Anusha& Co 42000 B.No 105 Interest 2%P.M
12. Sold to Rami Reddy 20000 B.No 4 Interest 3%P.M
13. Goods returned from Sireesha’s Stall 1000 B.No 3
14. Sold to Sarathi 80000 B.No 5 Interest 3%P.M
15. Purchased from Rao Enterprises 65000 B.No 108 Interest 2%P.M
16. Returned goods to Anusha& Co 1500 B.No 105
17. Sales to RangaRao (Trade Discount 10%)18000 B.No 6
18. VengalaRao Sold goods to us 27000 B.No 111 Interest 2%P.M
1. Purchased from Sridhar 40000 B.No 25 Interest 2%P.M

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Purchase A/C dr 40000
To Sridhar 40000
(Being Purchase goods from
Sridhar)
2. Purchased from Srikanth 35000 B.No 85 Interest 24%P.A

Purchases A/c dr 35000

To Srikanth 35000
(Being Purchase goods from
Srikanth)
3. Sold goods to Mohan 35000 (Trade Discount 5%) B.No 1 Interest

2%P.M
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Mohan A/c dr 35000
To sales 35000
(Being Goods Sale to Mohan)
4. Purchased from Ramu 42000 B.No 33 Interest 2%P.M


To ramu 42000
(Being Purchase goods from Ramu)
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5. Returned goods to Srikanth 2000 B.No 85
Srikanth A/c dr 2000

To purchase return 2000
(Being goods return to Srikanth)
6. Goods returned by Mohan 1000 B.No 1

Mohan A/c dr 1000

To purchase return 1000
(Being goods return by Mohan)
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7. Sold to Sridevi Stores 20000 B.No 2 Interest 3%P.M
Sridevi stall dr 20000

To sales 20000
(Being Goods Sale to Sridevi Store)
8. Sold to Sireesha’s Stall 10000 B.No 3 Interest 2%P.M

Sireesha stall A/c dr 10000

To sales 10000
(Being Goods Sale to Sireesha stall)
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9. Returns goods to Sridhar 4000 B.No 25
Purchase returned dr 4000

To Sridhar 4000
(Being goods return to Sridhar)
10. Bought goods from Srikanth for cash 50000

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Purchase A/C DR 50000
To Cash 50000
(Being goods brought from cash)
11. Purchased from Anusha& Co 42000 B.No 105 Interest 2%P.M

Purchase A/c dr 42000

To Anusha & co. 42000
(Being Purchase goods from Anusha&
Co)
12. Sold to Rami Reddy 20000 B.No 4 Interest 3%P.M

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Rami Reddy a/c dr 20000
To sales 20000
(Being Goods Sale to Rami Reddy)
13. Goods returned from Sireesha’s Stall 1000 B.No 3

Sale returned A/C dr 1000

To sireesha’s stall 1000
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(Being goods return by Sireesha)
14. Sold to Sarathi 80000 B.No 5 Interest 3%P.M

Sarathi A/c dr 80000

To sales 80000
(Being Goods Sale to Sarathi)
15. Purchased from Rao Enterprises 65000 B.No 108 Interest 2%P.M

To rao enterprises A/c 65000
(Being Purchase goods from Rao
Enterprises)
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16. Returned goods to Anusha& Co 1500 B.No 105
Anusha & co. A/c dr 1500

To purchase returned 1500
(Being goods return to Anusha& Co)
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17. Sales to RangaRao (Trade Discount 10%)18000 B.No 6
Ranga rao A/c Dr 18000

To sales A/c 18000
(Being Goods Sale to Ranga rao)
18. VengalaRao Sold goods to us 27000 B.No 111 Interest 2%P.M

VengalaRao A/c dr 27000

To sales A/C 27000
(Being Purchase goods from Vengala
Rao)
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Q6: The following would be recording in journal using double entry system. Do the
posting process from journal entries and prepare the Trial balance, Trading a/c, Profit
& loss a/c and balance sheet with inventory maintain in the books of M/s. ISPAT CO
for the following year 2023 to 2024
PARTICULARS Dr Cr
Capital 400000
Royalty Payable 70000
Cash 120000
Bank O/D 50000
ICICI Bank 80000
Bills payable 20000
Furniture & Fittings 50000
Bills Receivable 50000
Land and buildings 60000
Loan from Ravi 10000
STOCK IN HAND
Sony TV 15nos Rs.5500
Sony I-pad 15nos Rs.500
Lenovo laptop 7nos Rs.12000
Micro max phone 8nos Rs.2000
TRANSACTION DURING THE PERIOD:
1. Purchased on credit from Mr. CITIZEN for the followings
LC-10121 calculator 20nos Rs.1200
USB 17nos Rs.2300

Laptop battery 22nos Rs.2100 bill no:236 (35 days)
2. Withdraw from bank for office use Rs.5000
3. Purchased on credit from Mr. Micro Max for the followings
Phone display 20nos Rs.500. Bill no: 12 (25 days)
4. Deposit into bank Rs.10,000
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5. Sold goods on credit to Mr. BENN for the followings
Lenovo laptop 4nos Rs.15000. Bill no: 34 (15 days)
6. Return goods to Mr. CITIZEN for the followings
Laptop battery 2nos Rs.2100 again bill no:236
7. With Draw for Proprietors Own Use Rs.7000
8. Sold Goods to Mr. NETWORK for the followings
Laptop Battery 15nos Rs.3000
Phone Display 12nos Rs.750 bill no: 67 (24 days)
9. Paid Salary Rs.5000
10. Received Interest Rs.7500
11. Return by Goods Mr. BENN for the followings
Lenovo Laptop 1nos Rs.15000. Again bill no: 34
12. The Stock of LC10121 calculator 3nos transferred to Chennai branch.
13. After Stock Verify the manual inventory the stock of Sony I-Pad 10nos only
STOCK GROUP CREATION

Inventory Info< Stock Groups< Create< In Stock In Hand< Primary< Save
STOCK UNIT CREATION

Inventory Info< Unit of Measure< Unit of Measure< Create< Nos< Simple< Save
59 | P a g e
60 | P a g e
TRANSACTION DURING THE PERIOD:
1. Purchased on credit from Mr. CITIZEN for the followings
USB 17nos Rs.2300
Laptop battery 22nos Rs.2100 bill no:236 (35 days)
LC-10121 calculator Dr 2400

USB Dr 39100
Laptop battery Dr 46200
To Mr. CITIZEN 109300
(Being Goods Purchased from Mr. Citizen)
61 | P a g e
2. Withdraw from bank for office use Rs.5000
Office Expenses A/c Dr 5000

To Bank 5000
(Being Cash Withdrawn for Office Use)
 Accounting Vouchers< F5: Payment.

 Enter the details of the Transactions. Select the required Ledger accounts. And
Select Save to record the transaction.
3. Purchased on credit from Mr. Micro Max for the followings

Phone display 20nos Rs.500. Bill no: 12 (25 days)
Phone display A/c Dr 10000

To Mr. Micro MaxA/c 10000
(Being Goods purchased on Credit)
62 | P a g e
4. Deposit into bank Rs.10,000
Bank Dr 10000
To Cash 10000
(Being Cash Deposited into Bank)
5. Sold goods on credit to Mr. BENN for the followings

Lenovo laptop 4nos Rs.15000. Bill no: 34 (15 days)
Mr. BENN
To Sony TV 135000
75000
To Lenovo laptop
60000
(Being Goods Sold to Mr. Ben on Credit)
63 | P a g e
6. Return goods to Mr. CITIZEN for the followings
Laptop battery 2nos Rs.2100 again bill no:236
Mr. CITIZEN 3300

To LC-10121 calculator 3600
4200
To Laptop battery
(Being Goods Returned to Mr. Citizen)
64 | P a g e
7. With Draw for Proprietors Own Use Rs.7000
Drawings A/c 7000

7000
To Cash
(Being Cash Withdrawn for Personal
Use)
8. Sold Goods to Mr. NETWORK for the followings

Laptop Battery 15nos Rs.3000
Phone Display 12nos Rs.750 bill no: 67 (24 days)
Mr. NETWORK Dr 3750

To Laptop Battery 45000
To Credit: Phone Display 9000
(Being Goods Sold to Mr. Network)
65 | P a g e
9. Paid Salary Rs.5000
Salary Expense 5000

To Cash (Asset) - Rs.5000 5000
(Being Salary Paid)
66 | P a g e
10. Received Interest Rs.7500
Bank 7500
To Interest Received 7500
(Being Interest Received)
11. Return by Goods Mr. BENN for the followings

Lenovo Laptop 1nos Rs.15000. Again bill no: 34
Mr. BENN A/c Dr 22500

To Sony TV 15000
To Lenovo Laptop 7500
(Being Goods Returned by Mr. Benn)
67 | P a g e
12. The Stock of LC10121 calculator 3nos transferred to Chennai branch.
Chennai Branch 3600

To LC-10121 calculator 3600
68 | P a g e
13)After Stock Verify the manual inventory the stock of Sony I-Pad 10nos only
69 | P a g e
Profit and Loss:
Balance Sheet:
70 | P a g e
71 | P a g e

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Index for Basic Accounting Software Lab Project Report

Sl. Description Page

BACHELOR OF COMMERCE (HONOURS)

BASIC ACCOUNTING SOFTWARE FOR COMMERCE LAB

Submitted By: PROJECT GUIDE

Name of student:Ameesha Pal Name:Bhanuj Sobti

Enrollment No:02419588822 Designation: Assistant professor

DON BOSCO INSTITUTE OF TECHNOLOGY

TO WHOM SO EVER IT MAY CONCERN

BASIC ACCOUNTING SOFTWARE

HARDWARE FREQUIREMENT DETAILS

Hardware requirements play a crucial role in ensuring the smooth functioning of

 Storage (Hard Drive/SSD):

 Graphics Card (GPU):

 Network Interface Card (NIC):

 Operating System (OS):

SOFTWARE REQUIREMENT DETAIL

User Interface (UI) Requirements:

Maintenance and Support Requirements:

Legal and Compliance Requirements:

User Training and Support:

User Acceptance Criteria:

Introduction to Accounting Software ‘TALLY.ERP 9

Step 1: Launch Tally. ERP 9

Step 3: Company Creation Form

Step 5: Set Financial Year and Books Beginning Date

Step 7: Provide Security Control Information

Step 8: Enable/Disable Features

Step 10: Confirmation

If created number of ledger

(Being business started with cash)

2. Cash deposited in SBI a/c Rs. 10,00,000

(Being cash deposited in SBI)

(Being cash deposited in PNB)

4. Furniture purchased payment made by SBI cheque Rs. 1,00,000

5. Machinery purchased from Tarun Rs. 1,50,000

DATE PARTICULAR P.F DR CR

7. Goods sold to Jai Rs. 2,00,000.

8. Goods returned to Harish Rs 1000.

10. Goods returned by Jai Rs. 10,000

13. Depreciation on furniture Rs. 10,000.

15. Interest charged by ICICI Rs. 10,000.

17. Loss of goods by theft Rs. 1,000.

3. Record the following transactions in the cash book

Oct 1 Cash balance 200

Oct. 02 Cash received from sale of shares 12,000

Oct 02 Cash account. 12,000

Oct. 03 Paid Amrit by cheque 2,400

Oct. 04 Paid wages by cash 500

Oct. 16 Bought goods for cash 1,200

Oct. 16 Purchase account 1,200

Oct. 18 Paid for stationery cash 300

Oct. 19 Paid Hema by cheque 750

Oct. 19 Hema’s account 800

Oct. 19 Drawn from Bank 640

Oct 19 Cash account 640

Oct. 20 Received from cash sales 340

Oct. 24 Cash withdrawn for personal use 400

Oct. 24 Drawing’s account 400

11. Purchased from Anusha& Co 42000 B.No 105 Interest 2%P.M