TALLY (Basic Accounting )

In our previous blog we had talk about basic Tally, Accounting and business.       

Today we will discuss about other accounting aspects

We do only Financial Transaction in Our Business

Financial Transaction…??

} Goods Purchased Worth Rs. 5 Lakhs

} Goods Sold Worth Rs. 6 Lakhs

} Amount Deposited in Bank Rs. 6 Lakhs

} Amount Paid To Supplier Through Online Bank Transfer.

} Salary Paid To Employees

} Amount Received From Customers.

} Again Amount Deposited in Bank

} Make Payment of Expenses Through Bank.

Example

} We Purchased Goods Worth Rs. 100/-

} And Sold it in Rs 120/-

} What We Earn……??

Rs. 20/Profit
Let’s Take Another Example

} We Purchased Goods Worth Rs. 100/-

} And Sold it in Rs 95/-

What We Earn or Loss……?? Rs. 5/- Loss

What is The Overall Result…..????

Profit or  Loss…..???

Profit of Rs 15/-

What We have Done…?

We record the Both Financial Transaction and Through That We Calculate Profit And Loss.

This Process Called Accounting.

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