HOW TO MAINTAIN INVENTORY

HOW TO MAINTAIN INVENTORY We can maintain inventory by following these steps:- Example:- Ramlal & Sons Company purchased 10 pieces of Onida t.v. for Rs. 7,000 per piece and sold 5 pieces of Onida t.v. for Rs. 10,000 per piece  to Shyamlal & Sons Company. Record the above transactions. To maintain:- First of all create a company. And then create ledger as follow:- Path for ledger creation: -...

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INVENTORY INTRODUCTION

INVENTORY INTRODUCTION Inventory is a list of moveable goods. In Inventory, we study about Stock Management and also know about over remaining stock. To activate Inventory, we have to select “Account with Inventory” option in “Company Registration Form”. To Activate Inventory:- G.O.T. (Gateway of Tally)-->press “Alt + F3" --> Create Company. And then “accept” by pressing “y”. Basic facts under Inventory:- 1) Stock...

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PROVISION

PROVISION Provision is made for to escape from future losses. It is created for future liability provision had certain but provision amount is not certain. It comes under Indirect Expenses. Example:- Goods sold to Rohan Rs. 50,000. Provision for debtors is Rs. 10,000. Do the above voucher entry. To maintain:- Create a company and then create ledger as follow:- Path for ledger creation: - G.O.T. (Gateway of Tally)--> accounts...

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INTEREST ON DRAWING

INTEREST ON DRAWING When a businessman withdraws cash from the business for personal use then it is called Drawing. Sometime the business charges interest on that drawing then it is called Interest on Drawing. It is Indirect Income for business. Example:- A businessman withdraws cash Rs. 70,000 from business. Interest on Drawing is 10 %. Do the above voucher entries. To maintain:- Create a company and then create ledger...

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