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Hi Seniors,
I'm new this site n also to my job. Ours is a software and hardware service company. Can anyone tell me what type of entries involve in this type of business.
Or can anyone tell me about any books which i can refer for my knowledge in accounts like journal entries, payments, receipts, reports etc in tally.
Thank u.

Hi Kumari,
If you want to refer books, you can go for Double entry book keeping, by jain & Narang.
That's the best book for understanding accounts. Really it's helpful. I am from BA background, still i am able to understand it.
At present i am working in an MNC which is a software company. Only because of that book. I learned whole accounts within 3 months in my MBA. Nothing is hard. I shared my experience on accounting.
Just go through the book after that you will rock it.
Regards,
Sarita

Firstly.... minus..... -$15.00 Secoundly,,plus... +$775.00 Thus so,, credit.......775.00 - 15.00 Equals to 760. 00 - 99.90 Equals to 660.10 minus 65.00 59510 .credit in the account...
Firstly.... minus..... -$15.00 Secoundly,,plus... +$775.00 Thus so,, credit.......775.00 - 15.00 Equals to 760. 00 - 99.90 Equals to 660.10 minus 65.00
Firstly.... minus..... -$15.00 Secoundly,,plus... +$775.00 Thus so,, credit.......775.00 - 15.00 Equals to 760. 00 - 99.90 Equals to 660.10 minus 65.00
Friend i advise to follow Intermediate First Year Accounting Book of Telugu Academy it is very good and also helpful to strong your basic accounting.
For JV
For any Purchase Tally Under Group Entry Amount
1. Purchase Item Name (Tally Soft Ware) 95
Sun Dr ( Tax ) if we take In put , if we not take in put under Exp Head Service Tax / Sale TAX / CST 5
Sun Cr Purchases To Kumari 100
2. Sun Cr Purchases Kumari 100
To Bank 100

First of all Congratulations,

I don't know about the book suggested by our friend Sarita. But, normally when you practically do entries you will come to know how to treat them. Books may give some idea, but not to that much extent.

As you told yours is a service company, service tax will apply. For service tax there will be input as well as out put tax.

If there are any sales and purchases then VAT will be applicable. You can ask your commissioner of commercial taxes the rate of taxes applied for your product.

When you pay through Bank or Cash, Payment voucher comes. And when you receive cheque or cash then you need to raise receipt.

For local purchases, you need to book purchase voucher. You need to take care while booking purchase voucher you need to consider all taxes.

Similar way when there are sales(not service), you will make sales voucher. Like in purchase, sales voucher also have taxes.

Apart from these Journal Voucher will be there. For adjustments, and other things this voucher is used.

Regarding accounting entries, i cannot just simply say here without seeing the transaction happened. So, if you can give me the details of transaction happened, then i can tell to my friend how and what are the entries will come.

Normally books can give idea, but not full knowledge. When you experienced from practical things, then you can be perfect in doing the entries.

If you have any queries kindly mail to my id .

I will try to guide you all the way.

All the best.

Dear Saritha
same problem i have faced i am also BA Graduate and doing accounts job can u provide the book (jain& narang, ) details like,where it is availble, cost of book, etc
This is mail id
Thanks and regards
Mobile:9866712445

dear Sir/madam
An anyone tell me about any books which i can refer for my knowledge in accounts like journal entries, payments, receipts, reports etc in tally because i have this these all topics even thou i can understand what to do .
Thank u.


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