UNACCRUED INCOME

UNACCRUED INCOME

When a businessman receives advance income up to the end of current year or when service will be rendered in the next year then such income is called Unaccrued Income.

Example:-

         a)     Rent due Rs. 6,000.

         b)     Rent received Rs. 12,000.

         c)      Unaccrued income Rs. 6,000.

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.