Ledgers and Groups in Tally Capital Account: Capital Accounts may be directly placed under Capital Group or a sub-group may be created for them. Common example of Ledger Accounts under Capital Account group is Share Capital, Partners’ Capital Accounts, and Proprietors Capital Account. Separate Ledgers may be opened for Equity Capital, Preference Capital A/c etc. Reserves & Surplus (Retained Earnings): The Group Reserves & Surplus is a sub-group to Capital Account. All Reserve accounts (recognized as Retained Earnings) are placed under this group. Common examples are: General Reserve, Capital Reserve, Investment Allowance Reserve, Share Premium Account etc. Loans (Liabilities): All loans taken should be placed under this group. Reserved sub-groups under this Primary Group: Bank Overdraft & Cash Credit (Bank OD), Secured loans and unsecured loans. Bank OD Accounts (Bank OCC A/c): Normally a business house has two types of bank accounts: Current account and Bank Loa...
IN the middle of the business i want to deposit cash in the capital a/c ..what should be the entry.with narration.
ReplyDelete2. At purchase entry or sales entry ,should the purchase ledger & VAT/TAX class be same ?
3. At sales entry should the VAT/TAX class & the sales ledger should be the same of the particular good as at the time of purchase of the good.
4. how to use the bank a/c... such as giving salary... purchase goods..?
5. At the time of selling goods to a debtor what should we write on the ref. & narration ?
6. Narration at the time of payment to a creditor.
7.All narrations chart.