How to make POS invoice in tally 9 and Tally.ERP 9

These days big companies of India like Reliance , Subiksha and birla are opening their retail shops in middle cities . They appoint accountant for sole aim to record retail sales in Tally 9 and Tally.ERP 9 . For making of sale invoice and give it to customer and record sale in one plateform , training of POS invoicing is must .


Objectives of Tutorial

1. To define what is POS and what is its use
2. To provide the steps for making POS invoice in tally 9 and in Tally.ERP 9
3. To solve the related problems of POS .

What is POS and POS invoice ?

POS means point of sale and in retail shop , when a customer buys any product from shop , he want to get slip or receipt for this . This receipt is called POS invoice .

What is the use of POS invoice ?

POS invoice is the proof of sale and also for customer , it is the proof of purchase . Because tally 9 has the option to treatment of VAT on it so , customer also know how much VAT is given by him on purchasing .

Simple Steps for making POS invoice in Tally 9 and Tally.ERP 9

Ist Step

From gateway of tally go to feature 11 and write yes to allow invoicing and accept it and also activate VAT option in statutory feature of tally 9

2nd Step

Go to account info and then create ledger of sale under sale account and customer under sundry debtor account and bank under bank account , Create VAT account under duties and taxes

Account info >> ledger >> create

3rd Step

After this again go to account info and then go to voucher type and then create POS invoice with type of sale .

4th Step

Pass the voucher entry of Sale in sale voucher when you will click sale voucher , you will see the pop up of voucher type and you have to write POS invoice .

and in POS invoice , you pass the voucher entry by writing different items which you have sold , if you do not create the stock items , then press Alt + C for creation and then in stock item , you can also create stock measurement again press Alt + C in it .

After writing stock items , you can also write its quantity and value and then you will see next table where you have to write VAT and choose the rate and calculate the value of VAT yourself and total bill value , you will see below . If your customer want to pay with different way , then right side , you can click multi mode payment button . After this if your customer has paid with credit card , then choose the credit card with its no. and paid amount , your customer can also pay by gift vouchers , then choose gift voucher and select the name of respective debtor .

After this you can print the same POS invoice and you can give its copy to customer .

Solution the related problems of POS

Problem of Accountant relating to POS

I would like to ask about POS invoice in tally9, As per tally 9 reference manual gift voucher ledger under group sundry debtors/sundry creditors, here i am very confused that gift is the expenses so it should be under group indirect/direct expenses, please explain me with example.

Solution

Actually , When you pass the voucher entry of sale by adopting POS invoice as voucher type , in the right side you will see the multi mode payment option in which you have seen gift voucher payment system .

It is not the expense but it is the way of payment . It is like bill of exchange which we know gift voucher , some time our customer do not have money at that time he can issue gift voucher and we can get our money from his office . See wikipedia's detail also .

You need not to select any direct and indirect expenses option , just choose gift voucher the option of payment which you have to get and select the name of debtor in sale voucher entry after this accept the voucher .

Other Software which can use for making POS invoice in retail shop

Except Tally 9 and Tally.ERP 9 , following software can also use for making POS invoice and recording retail sale entry

1. Cougar Mountain Software
2. EFTPOS
3. Equens
4. IBM
5. Ingenico
6. MICROS Systems
7. MYOB (Software Company)
8. PixelPoint
9. Radiant Systems
10. Retail Billing Solution
11. Retalix
12. Scanning Systems Australia
13. Squirrel Systems
14. Swedish Bar Systems
15. United Bank Card
16. VeriFone
17. Wincor Nixdorf

How to purchase good Accounting and other office softwares

If you need any good accounting and other office software . What will you do ? Just go to market and buy or search online and buy or adopt a procedure for buying good one . Followings are the some steps which will be helpful for you for buying good softwares .

# Select the source of supply


There may be large number of vendor for same software and if it is branded software , you can find only few vendors . First of all make the list of all vendors and also check their prices .

# Get review from online magazine

You can find large number of online magazines which publish updated review of accounting and other software . You can read the market price , quality and other features of new software product . It will be helpful to you to analyse which is the best out of different alternatives .
I can refer to you some of the best review magazine for your study before actual buying of any software .

1. Macworld
2. PC Magazine
3. PC World
4. CNET
5. Tom’s Hardware

# Confirm Trial facility

You should first operate on trial basis and then purchases . For instance Tally solution company has launched new version of Tally and its name is Tally.ERP 9 . You can download it before actual purchasing and operate it on trial basis .

# Placing Actual purchase order

It is the duty of purchase department to send purchase order before trial period . Agreement of purchase should be written . Purchase department should use their own purchase order form instead of using vendor's form . He also send one copy to Accounting department for proper recording of it .

Accounting will become easy with regular practise

Accounting is such subject which is tough for many students on the other side , some students enjoy in it . Such students like to read and study accounting more than any other subject .

If you admit in B.Com. Ist year . Now come to know what will you study in B.Com. Ist year? What planning will you make for better holding on subject ? In 10+2 commerce , students understand basic concepts of accounting . In graduation level , it is expected from students that they will study accounting principles at wide level and they analyze these accounting principles with logical way. For this it is very necessary that they should understand the subject and syllabus . After this , they should study with passion after clearing concepts one by one .

First understand syllabus

In first year , you have to learn financial accounting . It has three main units

1. Basic accounting unit


2. Partnership accounting unit


3. Other part of financial accounting including container accounts , branch accounts , department accounts , and investment accounts .
   

Clear you concept

When we look the syllabus of B.Com. first year , we find that some concepts of B.Com. Ist year accounting is already studied in 10+2 . But you can be in home at accounting if you will study with regular practise . You should care that all universities have some syllabus of accounting in India. All 10+2 students who have cleared in commerce subjects , they can easily understand the accounting subject in B.Com. Ist year . But art and non medical students who admit in B.Com. Ist year , will have to do extra hard work.

Never miss your class lecture

Accounting is subject , which we can not understand without classroom. So , try your best for not missing your class . Except regular classroom study , you should follow , following things.

Ist

All topics which has been taught in classroom , should revise in your home.

2nd

Try to solve accounting problems yourself . you should adopt this concept fully. As soon as , you will do practise in accounting , your grasp on accounting will increase .

3th

Always remember that if you are not understand any topic of accounting , Never cram it . Talk with your teacher on that topic . When you will understand that topic , after this go forward for next topic .

Become book and Internet Research Lover

For understanding accounting concepts better way , you should consult more and more books of accounting which are written by different authors . You should also read the accounting blogs of accounting professors , because they write always updated in the field of accounting and also share their experience with you . After regular classroom study , good books study and then reading of accounting blogs , you will become the master in accounting subject .

Solve objective type questions of accounting question

In the end of topics , you can find some objective type questions , you should also solve them it will increase your logical thinking .

Main aim of accounting is to develop human brain . If you brain is developed by your regular practise , then no work will be difficult for you.

In last keep in touch with accounting education .

( Personal advice from author Prof. Vinod Kumar )

What should be in Business PC

Business PC is the epitome of business's reputation . It should not be normal but something advance can impress your customers . Business PC must be fast and included all necessary hardware and software .

All softwares must be purchased under valid license from software companies . Because of large number of confidential contract copies and other reports are in Business PC , so tight security can ensure safety of these reports and documents. Of Course new version of Antivirus with continually updates can also safe your Business PC from Internet Viruses .

For backup of important documents of business , businessman should attach CD writer and also ensure more than 2 plugs of pan drive in Business PC .

HP DX9000 (business version of HP TouchSmart IQ506 PC) has External attraction , like this model businessman can buy any other related model of Business PC .

Businessman has to do lot of works like management , planning , motivation , recruitment and accounting and finance . before purchasing Business PC , check the RAM . 1 GB RAM is sufficient for doing all business work . Because 1 GB RAM of Business PC can help for opening multiple Internet browsers in same time without closing other Internet browsers .

Conclusion :

Business PC should be fast , attractive , up to date , advance , well equipped ,connected , operated with electricity and fully charged battery .

How to Customise audit trail in tally 9

Auditor's main duty is to audit the accounts which is made by accountant . Now with the help of customising audit trail , CA will know , how many times , accountant has changed the figures in day book with what amount .

manigandantally Channel in YouTube has made very good tutorial for understanding this concept . This video is very useful for CA and all internal auditors of company. In this tutorial , if we have to customise audit trial in tally 9 , then we first open day book . In day book , we have to click configuration and write yes in the front of show audit trial and accept this configuration . After this you will see history of past alteration of voucher entries .

For instance :

Suppose Arvind is the accountant of XYZ company. He passed any voucher entry with Rs. 500000 , after two days , he changed its value with Rs. 600000 and again after three days , he changed it with Rs. 700000 . After customizing of Audit trial , CA can get full detail of past alteration report and can ask , why did he change the figures of voucher entries ?

How to increase productivity in Office

Productivity in office means to do work fastly and get good results in Office . David Aline of Fast Company has told us some good tips with this we can increase productivity in office.

# 1 Collect Scrap papers and notes

We see typically in office that scape and dead papers , notes are spreading here and there and create disturbance in work . Collect all these papers in one place and check whether they are important or not .

# 2 Action on Rough notes

Sometime we see that we note dates of office meetings and other important matter on rough notes and not to do action on it . We should do action on it . With this we can increase the productivity in office .

# 3 Check old Calender data

In office make all shedule on manual or online Calender and check all pending works and do it before its dead or expire date .

4 # Note all new projects of Office

Make the rule of your life to record all new project of office on notebook and also write " waiting for " if you do same work after some time also mention its future date on same note.

# 5 Check all work's productivity

Check all work's productivity one by one from time to time .

# 6 Make Creative Environment of Office

Office is the place where you live and work for 8 to 12 hours . So , for increasing its productivity , it is your personal duty to make its creative environment . You can make creative environment of office by doing Excellent , scatter-brained , Exciting and thought stirrer-up work .

What is the procedure for audit of non profit organization ( NGO )?

Non profit organization (NGO ) are those social institution who is operating their social activities with public donations . So, making the accounts and financial statement is needed for showing the performance to general public . Its accounts are also audited by independent Chartered Accountant . The procedure for auditing is very simple .

• Like auditing for other business accounts , auditor will audit first day book with all previous data . After this he will check ledger accounts and trial balance .
• Checking of receipt and payment account and income and expenditure accounts are very important in the auditing for NGO. What amount NGO has received from what source and also check its voucher and also check different expenses of NGO . He will see whether expenses are revenue or capital nature and accountant of NGO has proper distribute it in final account.
• He will also make audit report after seeing fully all financial statements including social accounting specially in USA and UK .

Sachin: multimillionaire sportsperson with highest earning from Advertising

Mark Mascarehas of World Tel truly said ,"Sachin Tendulkar is India's first multimillionaire sportsperson who is earning highest from advertising . "

As the biggest brand of TOP MNC , he is earning more than 50 companies by advertising their products . Large number of Fans attract from him in shooting of his ads and buy the products .

Visa, Action Shoes, Adidas, Pepsi, Colgate, Boost, Philips, MRF and Fiat. are top listed companies who is giving him fees for taking his brand services .

he charges for advertising the products Rs 3 crore per endorsement [ Estimated ] .

TV channels are also making as brand ambassador . Tendulkar has already signed two times five-year contract worth Rs 100 crore with WorldTel first in 1995 and after 2001

Main Product and brand endorsements

Sachin Tendulkar endorses the following products

1. Canon: 2006 - 2009
2. Airtel: 2004-2006
3. Nazara Technologies: 2005 - 2008. License for Mobile Content development based on Sachin.
4. Reliance Communications sub-licensed brand 'Sachin Tendulkar' to update the user of the latest 2007 Cricket World Cup scores and news in Sachin's voice.
5. Hutch - ICC's prime communication sponsor protested calling Reliance's plan as 'ambush marketing', a charge that Reliance Communication denies.
6. Britannia: 2001 - 2007
7. HomeTrade: 2001 - 2002
8. Sunfeast: 2007 - 2013/14
9. Boost: 1990 - Present
10. Adidas: 2000-2010
11. Fiat Palio: 2001 to 2003
12. Reynolds: 2007 - Present
13. TVS: 2002 - 2005
14. ESPN Star Sports: 2002 - Present
15. G-Hanz: 2005 - 2007
16. Sanyo BPL: 2007 - Present
17. AIDS Awareness Campaign: 2005
18. Philips
19. MRF
20. VISA

Divisions of Share Capital of Company

It is true that no business can operate without fund and fund can be received only by capital or loan . If company or corporate wants to get capital , it should make some division for this purpose. After this shares can be issued first time to public . For company accountant , its knowledge is must .



We can explain main divisions of share capital of company with following way :-



1st - Registered or authorised or nominal capital



That part of total capital with whom company wants to register , that part is called authorised capital . This the maximum amount that can any company issue to public for getting capital fund . Still there is not quantity limit for authorised capital determination under Indian Company Act 1956 .



2nd Issued Capital



It is that part of authorised capital which is offered to public to acquire , that part is called issued capital .



3rd Subscribed Capital



It is that part of issued capital which is accepted by public. Subscribed capital can not more than issued capital . If it happen than it will be over subscription and it will be rejected or accepted under pro-rata basis for providing proper accounting treatment .



4th Called up Capital



It is that part of issued capital which is to be paid by shareholders . Company has demanded money of this part . If shareholder does not pay called up capital , then this part becomes call in arrears .



5th Paid Up capital



It is that part of called up capital which is paid by shareholders and after this they can become real owner of company.



6th Reserve capital



One company can determine with special resolution that some part of total subscribed capital will not demanded from shareholder and it is not demand up to the winding up of company . That part of capital is called reserve capital . It can not be changed in general capital with the permission of Court . Board of directors also can not change it in normal capital . It is most benefited for company's creditors . because , this amount can be utilized for payment to creditors at the time of liquidation of company.

There is no need to do any accounting treatment for reserve capital but a small note is written in balance sheet in which company mentions the amount of reserve capital and other interested parties can focus on this note .



For instance



A company has Rs. 20000000 as its authorised capital divide into 1000000 equity shares of Rs. 10 each and 200000 pref. shares of Rs. 50 each. Company issued 800000 equity shares and 100000 preference shares . The public subscribed for 600000 equity shares and 100000 pref. shares . All shareholders paid the amount with the exceptionof 50000 equity shares @ Rs. 5 per share . Calculate the amount of various types of share capital .



Authorised capital



1000000 equity shares of Rs. 10 each → Rs. 10000000

200000 pref. shares of Rs. 50 each → Rs. 10000000
___________________________________________
---------------------------------------> Rs. 20000000
___________________________________________

Issued Capital

800000 Equity shares of Rs. 10 each → Rs. 8000000
100000 pref. share of Rs. 50 each → Rs. 5000000
__________________________________________
----------------------------------------> Rs. 13000000
__________________________________________

Subscribed capital

600000 equity shares of Rs . 10 each → Rs. 6000000
100000 pref. share of Rs. 50 each → Rs. 5000000
___________________________________________
---------------------------------------> Rs. 11000000
___________________________________________

Called up capital

600000 equity shares of Rs. 10 each
Called up only Rs. 8 per share → Rs 4800000
100000 pref. shares called up @ Rs. 40 each → Rs. 4000000
____________________________________________
------------------------------------------------> Rs. 8800000
____________________________________________

Paid up capital

Called up equity capital less calls in arears
of Rs. 5 each --------------------------------→ Rs. 4550000
paid up capital of pref. shares ---------------→ Rs. 4000000
_____________________________________________
----------------------------------------------> Rs. 8550000
_____________________________________________

How to open tally.ERP 9 in Education mode

If you want to try Tally.ERP 9 on trial basis before purchasing or if you are commerce student , you can download tally solution's Tally.ERP 9 but before purchasing and getting license , you can open tally.ERP in Education mode .

Today tutorial 's Objective

This tutorial is made for beginner of Tally.ERP 9 learning . If you have downloaded first time and if you face difficulty to open tally.ERP 9 , then this tutorial will help you .

First of you have click on Tally.ERP 9 software for opening it , after you will see the startup sheet where you will also see different option for activate licensing but before last you will see the option work in Education mode . Click it with mouse or press w from keyboard .

in work in education mode , you have to click any one button either you can click on silver edition mode or gold edition mode . After this you will reach gateway of tally like tally 9 .


you can also learn from following video made specially with instruction :-

How to calculate the value of an old coin

Curiosity and eagerness are two words which help us to know new which we can understand logically . Today logical question is " how to calculate the value of an old coin ". Can you calculate the exact value of an old coin . Answer is no . But a person who can calculate exact value of an old coin or coins , we know him as numismatist . He can tell you what is the exact price of old coin .

But with following way and steps you can get idea for calculation estimated value of any coin .

First of all , you must remember economics rule in mind that in rare goods , Demand and scarcity are two main factors for fixing prices and value . Oldest coin's value is more than old coin . Suppose one coin is related to the year of 1700 and other is related to 1600 , then the value of 1600 year's coin is more than 1700 year's coin.

Second thing is see the whole sale value of old coin in blue book which you can find any museum library . After all show your old coin more than one experts or numismatist , if you want to sale it on its exact value .

Which bank did earn revenue last credit crisis year in UK

Euromoney magazine wrote new story of Barclays Bank who made so effective cash management system and it got recorded revenue of $ 12.7 in credit crisis year in UK . It has also increased his profit 42% in first three month of 2009 . reading link

Accounting Procedures for a Construction Company

Problem
I am looking for the Accounting procedures for a Construction Company.Please help me to explain it If u publish because , I have to attend an interview in a newly started Construction Company next week.

Thanking u in advance.Prompt reply will be a great consideration to me.
Look forward to see ur reply.

Solution

First of all best of luck for your good performance in interview . Actually , you need not create any doubt about normal business and construction business . Accounting procedure are almost same . If you want to work as accountant in India , Now Tally 9 and Tally.ERP 9 are the best software for recording transaction relating to construction company . I have written solution relating to the accounting problems of construction in this accounting education site which you can find . Here , I can give you some tips for recording the transactions of any construction company .

• These days many construction companies are also using ERP software so , you should also get some basic knowledge of ERP ( Enterprise process planning )
• I have provide basic rules of accounts of construction companies under Indian Accounting standards . You can read here .
• Construction business are relating to build of dam, building, pipelines, ships and other fixed assets , you should make list of main earning and expenses and also different raw material with their measurement units relating to your respective company in which you are going to give interview . Because your duty is to record transaction of raw material , but you should also know what is the raw material and how to measure it .
• Never loss your confidence . Give your interview with full of confidence .
• In last , interview is also part of education . Enjoy it just like other way of learning because when you will face interview , you will learn so many things and after learning it you can do self analysis of your strength and weaknesses and become the expert in the field of accounting .
  
  Again my Good wishes with you and all those candidates who are struggling in the field of Accounting .

Accounting standard 19 - Leases and its Accounting Treatment ( AS 19 )

Accounting standard 19 states that transaction of leases should be recorded in the books of account and also should show in financial statement with proper way .
If we see dictionary meaning of lease , then we find that it is simple contract in which one person allows another person to use of land and other person gives rent for using land . But AS 19 defines leases in wide sense .

According to accounting standard 19 , “ Leases include all agreement for

(I) use of natural resources like oil , gas , timber , metal , mineral rights and land

( II ) Licensing agreement for producing film , plays and video recording .

It also divides leases into two major categories

( I ) financial lease


It is the agreement to purchase any fixed asset on installment, so financial lease must be shown asset and liability equal to present value of minimum lease payment from standpoint of the lease.

(II ) Operating lease

It is just contract only use of fixed asset and payment will be shown as expenses in the books of lessor (Customer )

How to free download Tally.ERP 9

Tally Solution Company is providing the facility of free download Educational version of Tally.ERP . For downloading free Tally.ERP 9's educational version , you have to go to tally solution's official site and from Accounting Education , if you want to download then click on here

When you reach Tally.ERP 9 download center , you will find large list of download , you have to just click on first button after this , you can select the place of your hard drive and give name to tally erp after this save this and never shut down before completing of download of tally.ERP 9