27181469 du number

1.

What is financial accounting? What are the basic term used in accounting? How do you create the company in tally 9.0/9.2?

Ans. 1 Financial accounting is a specialized branch of

accounting that keeps track of a company's financial transactions. Using standardized guidelines, the transactions are recorded, summarized, and presented in a financial report or financial statement such as an income statement or a balance sheet.

Basic terms of account: .transaction .recording .classification .summarizing .analysis .interpretation

2.

Write merits and demerits of tally. Explain it.

Ans 3. Inventory is the total amount of goods and/or materials contained in a store or factory at any given time. Store owners need to know the precise number of items on their shelves and storage areas in order

3. What do you know about the inventory?

to place orders or control losses. 4. Write the different among Tally 7.2 and 9.0/9.2? Ans.4 1.Tally 7.2 old version & Tally.Erp 9 is latest version 2. Tally 7.2 backend is old & Tally.erp 9 backend in new platform. 3. Payroll , Excise for manufacturers & Dealers, Tally audit, Remote access & Tally.Net 4. Up to 7.2 backend is old & Tally erp backend is new technology. 5. Tally coming updated online BRS & REMOTE ENTRY etc

5. 6. 7.

? ?

Explain the payroll system? How do you manage in the tally 9.0/9.2? Ans. 7 A payroll service is an accounting service that provides payment remittance service for a company and its employees. The service includes proper calculation of withholding taxes, benefits, retirement plans, overtime, and basic pay. What do you know about the service tax?

8.

Ans8. To decide whether your service is taxable or not amongst the list of service as above, similarity in names as called under common parlance is immaterial.

Tax-ability of your service and the category can be decided only by scrutinizing the complete process undertaken by you .

9. ? 10. What is voucher in tally? Define at least five voucher types of

Tally9.0/9.2.

Ans.10 Vouchers are used for recording day

to day transactions. Tally has several PreDefined Vouchers with different formats, for different types of transactions.

Type of voucher: 1.receipt: receipt voucher to enter all receipts of cash

or bank example amount received from customers, capital introduced in to the business,loans taken, loans and advances refunded,commission,rent, dividend,interest etc.

2. contra voucher A Contra voucher entry is a transaction involving transfer of cash between one Cash A/c to another or one Cash A/c to another Bank A/c i.e., is a transaction indicating transfer of funds from:

Cash account to Cash account

Cash account to Bank account

Bank account to Cash account

Bank account to Bank account

3.journal: Journal voucher is prepaired when

non cash transaction is taking place. e.g Bank charges,Sales/income tax,depriciation etc. 4.payment. A voucher is a bond which is worth a
certain monetary value and which may be spent only for specific reasons or on specific goods. Examples include (but are not limited to) housing, travel, and food vouchers.

5.debit voucher:
"Debit is deduction , when u pay use debit voucher Note: There are comments associated with this question. See the discussion page to add to the conversation.