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Real Account example

The document outlines the components of books of accounts, including journal entries, ledgers, and financial statements, as well as the use of Tally Prime software for accounting processes. It provides examples of transactions such as purchasing furniture, selling goods, and handling returns, detailing the corresponding journal entries. The document also categorizes accounts into real, nominal, and personal accounts.

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shobha m
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19 views

Real Account example

The document outlines the components of books of accounts, including journal entries, ledgers, and financial statements, as well as the use of Tally Prime software for accounting processes. It provides examples of transactions such as purchasing furniture, selling goods, and handling returns, detailing the corresponding journal entries. The document also categorizes accounts into real, nominal, and personal accounts.

Uploaded by

shobha m
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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BOOKS OF ACCOUNTS (IN BOOKS)

▪ JOURNAL ENTRIES
▪ LEDGERS
▪ SUBSIDARY BOOKS
▪ TRIAL BALANCE
▪ PROFIT AND LOSS
▪ BALANCE SHEET
▪ FUNDS FLOW STATEMENT
▪ CASH FLOW STATEMENT
▪ RATIO ANALYSIS
▪ OTHERS REPORTS

IN TALLY PRIME (SOFTWARE)


CREATING A COMPANY (OPTIONAL FOR REALTIME PROCESS)
CREATING A LEDGERS
POSTING JOURNAL ENTRIES
(AUTOMATICALLY TALLY SOFTWARE WILL UPDATE ALL BELOW FINANCIAL STATEMENTS)

▪ SUBSIDARY BOOKS
▪ TRIAL BALANCE
▪ PROFIT AND LOSS
▪ BALANCE SHEET
▪ FUNDS FLOW STATEMENT
▪ CASH FLOW STATEMENT
▪ RATIO ANALYSIS
REAL ACCOUNT (PURCHASE , SALES , PURCHASE
RETURNS AND SALES RETURNS)
DEBIT : WHAT COMES IN
CREDIT : WHAT GOES WHAT
1. PURCHASED FURNITURE WITH CASH OF 25000

DEBIT: FURNITURE A/C (WHAT COMES IN)


CREDIT: CASH A/C (GOES OUT)
ASSET YOUR PURCHASING IT COMES UNDER PAYMENT VOUCHER

DATE/SL.NO PARTICULARS LF DEBIT CREDIT


FURNITURE A/C DR 25000
TO CASH A/C 25000
(BEING FURNITURE
PURCHASED)

IN TALLY
LEDGER GROUP
FURNITURE A/C FIXED ASSET
CASH A/C CASH IN HAND

1. CREATION OF LEDGERS
2. POST THE ENTRY IN PAYMENT VOUCHER
2.SOLD GOODS FOR 30000
RULE :
DEBIT : WHAT COMES
CREDIT : WHAT GOES OUT
DEBIT : CASH A/C (it is coming in)
CREDIT : SALES A/C (SOLD GOODS ARE GOING OUT)
GOODS A/C
DATE/SL.NO PARTICULARS LF DEBIT CREDIT
1 CASH A/C DR 30000
TO SALES A/C 30000
(BEING GOODS SOLD
FOR THE CASH)

3. PURCHASE GOODS RETURNED BACK 12000


DEBIT : CASH A/C ( COMING IN)
CREDIT: PURCHASE RETURN A/C ( PURCHASED
GOODS ARE GOING OUT )
DATE/SL.NO PARTICULARS LF DEBIT CREDIT
1 CASH A/C DR 12000
TO PURCHASE 12000
REURN A/C
(BEING PURCHASED
GOODS RETURNED
BACK)

4. SOLD GOODS RETURNED BACK 6000


DEBIT : SALES RETURNS ( SOLD GOODS ARE
COMING IN)
CREDIT : CASH A/C ( GOES OUT)
DATE/SL.NO PARTICULARS LF DEBIT CREDIT
1 SALES RETURNS A/C DR 6000
TO CASH A/C 6000
(BEING SOLD GOODS
RETURNED BACK)

Real a/c
Nominal a/c
Personal a/c

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