Introduction to Accounts

Introduction to accounting:-
Accounting is "an art of recording, classifying and
summarizing in a significant manner which are in
terms of money.

Accounts:-
It means recording monetary Transactions in synchronized
order.
 Accounting shape:
Shape of accounts is" T" shape. The left
side part is called as debit (Dr) right side
part is called as credit (Cr)..

Dr Cr
 Types of Accounts: -
•Personal Accounts
•Impersonal Accounts
•a)Real Accounts b) Nominal Accounts

Types of Accounts
Real Account Personal Account Nominal Account
All Assets All Parties All Items of P&L
(Tangible & Intangible) (Debtors & Creditors) (Income & Expenses)

Rules Rules Rules

Debit what comes in Debit the receiver Debit all expenses &
losses
Credit what goes it Credit the giver Credit all Incomes &
gains
ACCOUNTING PRINCIPALS
•Personal Accounts: -
Debit: - The Receiver
Credit: - The Giver
•Real Accounts: -
Debit: - What comes in
Credit: - What goes out
•Nominal Accounts: -
Debit: - All Expenses & losses
Credit: - All In comes & profits/gains
Journal entry is also called day book
Day book Ledger trail balance Profit & loss a/c Balance sheet

Financial (or) accounting statements

Trading a/c

Profit & loss a/c

Balance sheet

Bank reconciliation
Trading a/c items
Purchase- dr
(-) purchase returns- cr
Sales-cr
(-)Sales returns-dr
Carriage inwards – dr
Carriage out words-cr
Wages- dr
Oping opening stock –dr
Closing stock-cr
Oil/fuel-cr
Profit& lose a/c
All Expenses Dr
All Incomes cr

Balance shect
Liabilities Assets

Accounting Pillars: -
Assets - Assets
Liability – Drawings
Expense – Expenses
Revenue – Liability
Owner’s Equity - Owner’s Equity
Drawings – Revenue

Debtor: - Creditor: -
Assets Liabilities
Drawings Owner’sEquity
Expenses Revenue
 Accountancy :-
The concept of Accountancy is to channelize company
transactions into meaning full formats with proper
accountancy we can identify following information like.
1. Company finance status
2. Company employee’s information
3. Total stock information
4. Information about purchase and sales
5. Information about returns (purchase and sales)
6. Cash and Bank analysis
7. Receipt and pay information
8. Profit and loss information
Types of Accounts :-
Depends on the performance the accounts
are mainly classified into two major categories Like..
1. Manual accounts
2. Computerized accounts.
1. Manual Accounts :-
It is stranded method of accountancy
means it is one of the oldest Technology. Now a days it is
not famous accounting method because it is very lengthy
and risky process. To implement manual accountancy we
have to perform following steps.
Step :-1 To prepare pay Book
Step :-2 prepare general entries
Step :-3 prepare Ledgers
Step :-4 prepare Ledger posting
2.Computerized Accounts :-
To Ratify all types manual accounting
limitations we are introducing computerized accounting in
this accounting we are having following advantages Like..
1. it is very flexible and easy concept
2. 10th class person also can understand this accountancy
3. it is Developed for Non-commerce people
4. We have to perform only Two operations
Like…
Ledger creation
Ledger posting
Available Software’s :-
Now a days we are having so
many accounting products they are Like…
1. Tally
2. wings
3. focus
4. Breezy and others.
 TALLY

Tally :-
Now a days it is one of the popular
computerized accounting software
with the help of this software we
can perform any type of accounts in
a year.
Tally Solutions Founded in the year 1986 by  Mr.
S S Goenka (Shyam Sunder Goenka). The
founder chairman of Tally Solutio ns. Tally
Solutions is India’s most successful and
prominent software product Company.
Tally solution private ltd is a Bangalore based
software company that currently sells into more
than 100 countries beyond its native India,
including the United Kingdom, Bangladesh and
Middle East.
Tally software is mainly used for vouchers, financial
statements, and taxation in many industries and has
specialized packagefor retail business, more advance
capabilities are found in its enterprise resourse
planning package.
Tally Versions :-

S. Version
Maintain  by Depending on
No Name
1. Tally 4.5 Accounts with inventory MS-DOS
2. Tally 5.0 Accounts with inventory Win 98,XP
3. Tally 5.4 Accounts with inventory Win 98,XP
4. Tally 6.3 With online finalization Auditing Win 98,XP
5. Tally 7.2 With VAT, TDS& Service Tax Win 98,XP
6. Tally 8.1 With Excise Duty. Win 98,XP
7. Tally 9.0 Multi Language Extra formality
Win 98,XP
feature.
8 Tally with Remote Access facility, Multi- Win98,XP,
ERP.9 budgets & scenarios & etc. Win 7

9 TALLY
PRIME
Features of TALLY.ERP 9:-
Simple and Flexible
Tally.ERP 9 is simple to learn and flexible to use. It allows both
keyboard and mouse conventions for smooth and easy data entry
Codeless Accounting :-
Tally.ERP 9 pioneered the ‘no accounting codes’ concept which
allows the user to maintain data in plain English (natural language
interface)
Complete Business Solution :-
Tally.ERP 9 provides an integrated business solution for accounting,
inventory, sales, finance, purchasing, manufacturing, excise and
payroll extensive with features to record, extract, display and print
information effectively.
Multi-platform Support :-
Tally.ERP 9 operates on various operating systems
such as Windows 98/ME/NT/2000/2003/2008/XP and
Windows 7
Remote Access :-
Tally.ERP 9 provides the facility to remotely access
the data from anywhere anytime.
The present version is “Tally ERP 9”
ERP :-ERP Means “Enterprise Resource and
Planning”.