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Tally 9 PracticalCharts of Accounts

*Chart of Accounts represents the hierarchical view of organization of Account Groups and LedgerAccounts.

Task 3 Verify the list of Reserved Account Groups: Primary Groups and Sub Groups Verify the list of Reserved Ledger Accounts Under Account Group Capital: Create a sub Group Share Capital Under Share Capital Create Sub Groups Equity shares and Preference shares Under Equity Shares create a ledger for Paid Up equity shares. Under Preference Shares create Ledgers for 10% Preference shares and 12% Preference

shares with an opening balance 5 lakh and 6 lakh respectively. Under Account Group Reserves & Surplus create ledger accounts for capital redemption

reserve, share premium account and revaluation reserve. Display and verify the above newly created sub groups and ledger accounts one by one.

Alter the opening balance of paid up equity shares into 10 lakh. Alter the ledger 12% preference shares into 11% preference shares Delete the ledger 10% preference shares

Task 4

Under secured loan create a group for debentures and Term loans Under Term loans create ledgers for IDBI and IFCI Under unsecured loans create a ledger for loan from directors Under Duties and Taxes create sub groups for Excise duty, sales tax and VAT Under sales tax create ledgers for local sales tax 10%, local sales tax 12%, central sales tax

and surcharge sales tax. Under provisions create ledgers for additional tax and proposed dividend Under sundry creditors create a group for suppliers Under suppliers create ledgers for abhishek enterprises, Metal ltd and shiva’s Display and verify the above created account groups and ledgers Delete the sub group debentures Delete the sub group sales tax Delete the sub group Bank OD accounts

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Task 5

Create ledger Goodwill under sub group Intangible Asset under Group Fixed Assets Create ledgers for Bike and Car Under sub group Motor vehicles under sub group Leased

Assets under Group Fixed Assets Copy the ledger goodwill from the present company to another company. Copy the account group Leased Assets from the present company to another company Under stock in hand create sub groups for stock of raw material and stock of finished goods Under stock of finished goods create ledgers stock of pipe and stock fittings Enter closing value of Rs 50000 for stock of pipe and Rs 75000 for stock of fittings Take the statistics of master records and verify the number of groups and numbers ledgers

in your company(from tally main menu> reports> display > statements of accounts >statistics)

Create a fresh company with least information possible and take the statistics of masterrecords and verify the number of groups and ledgers

Task 6

Create Ledger accounts for the following under appropriate sub group and groups( create as much sub groups as possible to make the information more meaningful.

Eg Current Assets>Loans & Advances (assets)>Advance to employees>Advance toclerical staff.)Salary payable, Unpaid dividend for the year 2009, unpaid dividend for the year 2010,Office building, staff quarters, Petty cash, HDFC fixed Deposit, Advance to Clerical Staff,Advance to Calicut suppliers, stock of coal(RM), stock of iron ore(RM), Toshiba Traders(Customer), Manju Ltd (Supplier), Taj merchants (Both curstomer and supplier),Discount on sale, sale of pipe, sale of fittings, purchase of coal, packaging charges,wages, handling charges, rent, telephone charges, salaries, interest on bank loan,

interest on term loan,

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