Insurance Journal Entry In Tally
Journal entries in tally is not used for recording all kinds transactions generally transactions recorded through journal voucher in tally erp9 does not include cash or bank account however tally allow user to enter cash bank transactions through journal vouchers by activating this.
Insurance journal entry in tally. Cash or bank ledger under cash in hand or bank accounts head. This depends on the exact asset s that were destroyed in the fire and to what extent they were covered. Journal entry in tally erp 9 is one of the simplest things which one can do without any serious efforts if the person knows a little bit of basic rules of accounting though most of the people feeling unnecessary confusion in journal entry itself. If we import the good from usa rs 50000 and deposite in ware house what is the entry in tally.
Company a paid 10 000 as insurance premium in the month of december the insurance premium belongs to the following calendar year hence it doesn t become due until january of the next year. What is the journal entry for insurance premium payment of a company. In this tally tutorial we explain vehicle insurance entry in tally erp 9 in detail. What is the journal entry for the claim recovered from fire insurance.
How to record insurance premium in tally erp 9. Ledger under which head. List of tally ledgers groups list. If you want to pass voucher entry for such a transaction in tally erp 9 accounting software then you need to have the following ledgers in your company.
Generally the journal entries to be used for depreciation on assets discount received and discount given and also for outstanding. To enter a journal entry in tally. This is our free online tally course. Premium ledger under investments head.
Learn insurance premium is a part of expense or assets in accounts. Check complete list of tally ledgers created under group list of tally erp 9 and earlier tally versions. That is because of lack of knowledge of accounting rules and lack of a guidance from a professional and experienced mentor. Journal entry in tally erp9 is a different concept than what we have learned theoretically from our class rooms.
Tally ledger under group list in hindi ledgers are very important part for journal entries in tally here we provide list of common ledgers created for profit and loss account balance sheet and for trading account. Now hit f7 shortcut key for journal voucher entry or click on f 7 journal button on the right side of the screen. Let s take three examples. Prepaid insurance dr 10000 bank cr 10000.
0 answers fic and spadana spoorty companies had no time sense so guyes plz dont go and attend for interviews i these. From the gateway of tally erp 9 go to accounting voucher gateway of tally accounting voucher. Erp 9 follow these simple steps.
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