ACCRUED INCOME

ACCRUED INCOME

All those income which a trader earns but not received by dint of any reason is called Accrued Income.

Example:-

         a)    Commission due Rs. 15,000.

         b)    Commission received Rs. 10,000.

         c)     Accrued commission Rs. 5,000.

To maintain:-

First of all, create a company.

After that, create ledger as follow:-

Path for Ledger Creation:- G.O.T. (Gateway of Tally) --> accounts info --> ledger --> create(single).

Now do voucher entry as follow:-

Path for Voucher Creation:- G.O.T.(Gateway of Tally) --> accounting voucher --> press F6 (Receipt Voucher).

Now view the profit & loss report:-

Path for view Profit & Loss a/c:- G.O.T. (Gateway of Tally) --> Profit & loss a/c.

Now we will create ledger entries as follow:-

Path for Adjustment Ledger Creation:- G.O.T. (Gateway of Tally) --> accounts info --> ledger --> create (single).

Now do voucher entry as follow:-

Path for Adjustment Voucher Creation:- G.O.T.(Gateway of Tally) --> accounting voucher --> press F7 (Journal Voucher).

Now view profit & loss report as follow:-

Path for view Profit & Loss a/c:- G.O.T.(Gateway of Tally) --> Profit & loss a/c.

Now view the Balance Sheet report as follow:-

Path for view Balance Sheet report:- G.O.T.(Gateway of Tally) --> Balance Sheet.

Press “Alt + F1” for more details.