REPAID EXPENSES

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REPAID EXPENSES

When a trader expenses excess amount than determined amount then it is calledPrepaid Expenses.

Example:-

                         I.     Insurance Premium due Rs. 20,000 on 31-03-2015.
                      II.     Insurance Premium paid till Rs. 30,000 on 31-03-2015.
                   III.    Prepaid Insurance Rs. 10,000.

To maintain:-

First of all we create a company.

After creating a company, create ledger as follow:-

Path for Ledger Creation:- G.O.T. (Gateway of Tally) --> accounts info --> ledger --> create(single).



Now do voucher entry as follow:-

Path for Voucher Creation:- G.O.T.(Gateway of Tally) --> accounting voucher --> press F5 (Payment Voucher).


Now view the profit & loss report:

Path for view Profit & Loss a/c:- G.O.T. (Gateway of Tally) --> Profit & loss a/c.


Now we will create ledger entries as follow:-


Path for Adjustment Ledger Creation:- G.O.T. (Gateway of Tally) --> accounts info --> ledger --> create (single).


Now do voucher entry as follow:-

Path for Adjustment Voucher Creation:- G.O.T.(Gateway of Tally) --> accounting voucher --> press F7 (Journal Voucher).


Now view profit & loss report as follow:-

Path for view Profit & Loss a/c:- G.O.T.(Gateway of Tally) --> Profit & loss a/c.


Now view the Balance Sheet report as follow:-

Path for view Balance Sheet report:- G.O.T.(Gateway of Tally) --> Balance Sheet.


Press “Alt + F1” for more details.

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