Hello friends, in previous clips we have done a lot of hard
work.
What all we have done? We have made a new company, invested
in capital, learned to purchase and sell.
There was a lot of discussion, there was a lot of noting
also.
We have also seen the shortcut keys of the vertical button
bar and we have also remembered all of them.
So tell me once, tell me sir.
F4 to CONTRA, F5 to PAYMENT, F6 to RECEIPT, F7 to JOURNAL,
F8 to SALE and F9 to PURCHASE.
Although I told you, where did you tell?
But I believe that you have revised and you will remember.
And you will be speaking with me when I said this.
Okay, very good. But those who have not done the revision,
there is a lot of danger ahead.
Now see, if you have come without revision, then I am
giving one last warning.
Class can be difficult for you, go and revise again.
I am telling you, if you agree, then it will be good.
Let's go through once, come to the notes.
What stories did we sing in the last class?
Invested in capital, then bought a building from Rs. 1 lakh.
And we had entered in two parts.
First we bought the whole building for Rs. 1 lakh and then
paid 80% of it.
Thereafter, thereafter, thereafter, thereafter.
Bought furniture for Rs. 50,000.
How is its entry?
Saw this.
Saw the entry to buy goods.
After that, we saw another entry to buy goods.
Means how to buy cash and loan in both ways.
And we had also done a sale.
And how did we do that sale?
Cash or loan?
We had loaned that sale to Rohan Babu.
Now we have to do the rest of the entries.
Now we have to do the rest of the work.
So our point number 7 is coming in front of us.
We have already sold loan to Rohan.
How to sell loan?
We have already seen.
Now we are going to see the cash sale.
Where to go in time?
Your old address.
V for Voucher.
And in which voucher will there be an entry?
In which voucher will there be an entry?
In the purchase voucher.
Whenever you buy goods, you have to enter in the purchase
voucher.
You must be thinking that if cash is being paid, then why
not in the payment voucher?
If goods are bought, then there should not be an entry in
the payment voucher.
If there is an entry in the purchase voucher, then the work
is better and more detailed.
F9 Take the invoice number of the supplier.
This time 45.
The date will come on April 1st.
What will come in the name of the party account?
Party account.
Okay, sorry.
F8 Take the sales voucher.
F8 If we are receiving some money, then you may feel that
the cash sale is going on.
There will be an entry in the received voucher.
But no.
If we are selling, then there will be an entry in the sales
voucher.
It will be more detailed.
Same goes with payment.
If you are buying cash, then there will be no entry in the
payment voucher.
Entry will be in the purchase voucher.
Whenever goods are purchased or sold.
Entry should be purchased and done in the sale voucher.
Okay, sir.
In the name of the party account, my dear friends, cash
will come here.
Because we are getting cash.
Take control of this screen.
Take control of this screen too.
And in the sales ledger, the sales account will come.
Name of item.
What are you selling?
Look quickly and tell.
Smart watch.
How many pieces are you selling?
8 pieces.
Look, telly shows you one thing here.
Look carefully.
Telly is showing you one thing.
How many pieces are left with you?
How many pieces can you sell?
This is coming to the side of the smart watch in the list
of stock items above.
How many pieces? 10 pieces.
Means you can sell up to 10 pieces.
Because there are only 10 pieces in your warehouse.
There are only 10 pieces in your office.
So if we ever make a mistake.
For example, we enter on smart watches here.
We are selling 8 pieces.
And if we make a mistake, 80 will be written to us.
So as soon as you press enter, telly will give a warning
below.
Negative stock minus 70 pieces.
Telly is saying.
You have 10 pieces according to your entries and accounting.
But how can you sell 80?
Where did the rest 70 come from?
That's why telly will give you a warning.
You will understand that something is wrong.
Then you will fix that mess here.
And you will write the rate of 7000.
The amount will be 56000.
Go to the narration by pressing enter below and write.
Being good sold for cash.
What effect will this entry have?
Sir, sir, sir.
Our cash balance will increase.
I said absolutely right.
And sir, sir, sir.
Our sales will also increase.
I said absolutely right.
Very good.
Come, I will tell you in more detail on the writing pad.
After this transaction, how will our balance sheet balance
match?
Once you take control of it.
Now if you are learning, then come in full detail about
everything.
Take control and save it.
And now I will take you to the pad for a while.
Come with me.
Look, friends, we have come to the pad.
Look, this is our balance sheet.
Both its arms should be equal.
Otherwise it starts crying.
How will both its arms match after this entry?
I will try to show you the effect.
What did we do?
We made a sale.
How much? 8 pieces, 7000 each.
We made a sale of 56000.
And we got the money in cash.
Absolutely right, sir.
There is nothing to worry about.
So in the balance sheet, my asset side cash.
Will it increase by Rs.
Say yes or no.
Yes, sir, it will increase by Rs. 56000.
Because we are getting money.
Okay.
Do I show my sale in the balance sheet or P&L?
Sir, we show the sale in P&L.
Rs. 56000.
In the balance sheet, its profit reaches.
Which goes to the capital and becomes plus.
Do you know this?
The profit of the sale goes to the capital in the balance
sheet and becomes plus.
So tell me.
How much profit is there on this sale?
How much did we buy these 8 pieces for?
Tell me quickly.
Sir, when we bought these 8 pieces,
We had a smartwatch for Rs. 4000.
Am I right or wrong?
So our purchase was for Rs. 32000.
Check once.
The purchase price of the smartwatch.
Is it 3000?
No.
The purchase price of the smartwatch.
No, no, no.
Is it 4000?
The purchase price of the smartwatch is 4000.
I checked.
So we bought it for Rs. 32000.
And how much are we selling?
Rs. 56000.
Tell me, dear children.
How much is our profit?
Sir, our profit is Rs. 24000.
So here in my balance sheet,
On the left-hand side,
When I add profit to the capital,
It will be plus Rs. 24000.
But sir, still you see,
Here it is plus Rs. 56000.
And here it is only plus Rs. 24000.
It is very unfair.
How will the effect be tallied now?
So friends, you are not paying attention to one thing.
On the asset side,
My stock will also decrease.
The item worth Rs. 32000.
The stock that I sold,
It went away from me.
That stock will decrease.
So now you finally tell me,
In my balance sheet,
What will be the effect on the asset side?
Plus Rs. 56000 minus Rs. 32000.
Plus Rs. 24000.
And here also,
Plus Rs. 24000.
This will be the effect of this entry on my balance sheet.
And my balance sheet will be tallied.
Let's see in tally prime,
Whether tally prime is able to tally the balance sheet or
not.
Although it is possible,
That in tally prime,
The balance sheet is not tallied.
This is almost impossible.
But still,
It is our duty to see.
Here it is.
Escape. Escape.
B for balance sheet.
Alt F1.
Come here and see.
My stock has decreased.
My stock has decreased from Rs. 32000 to Rs. 90000.
Now it has decreased to Rs. 58000.
If you don't believe me,
Press enter.
And see this.
Smart watches,
In which 10 pieces used to be there,
Only 2 pieces are visible.
Because we have sold 8 pieces.
And my cash balance has increased.
My cash balance has increased.
My cash balance has increased from Rs. 56000.
Earlier it was Rs. 180000.
See this.
My cash balance has increased.
It has increased to Rs. 56000.
Here is the debit side.
It has increased to Rs. 56000.
What will be the other side?
My profit has increased from Rs. 24000.
How much was the profit and loss account coming?
Rs. 3 lakhs.
And now you see,
How much is the profit coming?
Rs. 3,24,000.
So what happened?
Cash increased to Rs. 56000.
Stock decreased to Rs. 32000.
Here is the asset side.
It has increased to Rs. 24000.
And the liability side too.
It has increased to Rs. 24000.
In the profit and loss account,
It has increased to Rs. 24000.
The effect is the same.
Very good, sir.
Very good.
Write the notes of this.
Start writing the notes.
Point number 7.
Write the notes of journal entry number 7.
Step 1.
Go to vouchers.
Step 1.
Go to vouchers.
Step 2.
Select Sales Voucher with F8.
Step 2.
Select Sales Voucher with F8.
Put Cash account in the party account.
Parti Name Column
Put Cash Account in the Parti Name Column
Because it is Cash Sale, Cash Account will be shown on
Parti Name Column
after that put Sales Account in the Sales Ledger Column
put sales account in the sales ledger column
You have 5 wristwatches and 2 smartwatches
This means that at the beginning of the year, you already
had so many things in your office or godown 5 wristwatches,
2 smartwatches
Sir, we didn't know till now
We didn't know till now, that's why we didn't put its entry
yet
This can be one thing
Let me tell you what the second thing can be
The client has not yet done accounting
He has been doing business for 1-2 years
He hasn't done accounting till now
He has been asking me to start accounting from the 3rd year
So, when we start accounting from the 3rd year
We will have to collect data from the previous year
We will have to write some opening balances
So, we went to godown
And we saw how much stock is left
We came to know that there are 5 wristwatches and 2
smartwatches
So, we will put them as opening balances
So, even though you were doing accounting, you came to know
later
Or you already knew that we will have to put opening stocks
A client has come in the middle
And you are going to his godown to do physical accounting
And then you are doing entries
So, how can we increase the opening balance of the stock
We are going to see this
Okay, sir
Opening stock
Take this
Come to teleprime
Teleprime The same voucher in teleprime
No Surya has changed the trend this time
Not Surya, Feroz
Feroz has changed the trend this time
Indians are not as stupid as you think
Okay, sir, stop here
Otherwise, the series of dialogues is so long
That the whole class will leave
Right? So, let's stop the dialogues here
And let's move forward
Go to A for Altar
And come down to the stock item
To enter
Select smartwatch
Enter in smartwatch
Come down
And you can see a beautiful column
In the name of opening balance
In which you put two pieces
Two pieces
Enter What was the rate of the smartwatch?
The rate of the smartwatch was 4000
Assume the same purchase price
Okay, sir, we will assume the same purchase price
No problem
This is 2 into 4000
If we say 8000 8000 rupees
Press A with CTRL
Similarly, we have to put the opening balance of the
wristwatch
Press ENTER
Enter, enter, enter
Come down while playing
You have to put 5 pieces here
And its price is 1000 1000 rupees
This is 5000
Press A with CTRL
So you would find that your opening balance has been entered
Your opening balance has been entered
Okay? Now friends, write down the notes with me
Then I will tell you something very interesting
I will tell you something that has not come to your mind yet
And you have not even thought about it
First write down the notes
Write down the notes
Write down the notes of point no.
Go to ALTER
This time you have to go to ALTER
Go to ALTER
After that
Enter STOCK ITEM COLUMN
Come down and go to the STOCK ITEM COLUMN
Enter STOCK ITEM COLUMN
After that write
Select the relevant stock item
Select the stock item
Select the stock item for which you want to put the opening
balance
Select smartwatch, wristwatch
Sorry Select the relevant stock item
After selecting that
Come down while pressing ENTER
I am not making you write that
Will you write this?
Drag to the bottom by pressing ENTER
Write Drag to the bottom by pressing ENTER
Enter while pressing ENTER
Drag to the bottom by pressing ENTER
The opening balance column comes there
Put quantity and rate of opening balance
This is your last step
Put quantity and rate of opening balance
Do this at the last step
Now if someone has that thing in his mind
Which I am going to tell
So I want to clap for him before
And now when I tell the thing
So match it
Whether it was the same thing or not
If someone has something in his mind
But what I am telling
That one did not come out
Then give me back that clap
Okay Sir, what is the matter?
I am going to show you the balance sheet
And you see for yourself
Which way I want to point
There is some problem in the balance sheet already
There is a problem in the balance sheet
The balance sheet which used to be straight like a titanic
It has collided with the iceberg
And the balance sheet has become like this
On one side the balance is more
On the other side there is a possibility of being less
See friends
I will show you
Here B for balance sheet
With Alt F1
Sir, nothing happened
See the total 15,57,000 15,57,000 Our eyes came straight to
the total
If it is a match
Okay On the liability side
See the fourth amount
10,00,000 Capital 2,20,000
Creator 3,24,000 Profiter What is 13,000 below that?
What is 13,000 below that?
Difference in
Opening balances
What is this thing?
Where did this come from?
Friends You have now 8,000 And 5,000
Right 8,000 for smart watch 5,000 for wrist watch
Put the opening balance
Yes And you can tell
What is the balance of the stock?
Debit or credit
Sir, the debit balance of the stock
That comes to the asset side in the balance sheet
So you have reached 13,000 on the asset side
By putting the opening balance
What about the liability side?
If you are following the double entry system
And you have to enter some opening balances
So friends
Opening balances also have to be put in this way
So that the debit and credit are equal
The amount of money
Debit opening balances are put
The same amount of money
Credit opening balances also have to be put
The same amount of money
Oh So sir, we have worked on the debit side 13,000 But what
does the credit side do?
Now credit side
You tell me
Where should I put this 13,000?
Where should I adjust this 13,000 in the opening balance?
Where should I put the credit side?
There are two options
You will ask the owner
Call the owner
Owner, owner
Come inside
Ask him
Brother The 13,000 that we have seen in your warehouse
You tell me one thing
From whom did you buy this?
He is saying
Bought from Ganesh
From a person named Ganesh
I said
Okay Is there still a loan?
Did you pay for it?
For example
He is saying
There is still a loan
So tell me
Should I create a creditor of 13,000 in the name of Ganesh?
Yes or no?
Yes So this liability side
We have only one option
That we create a creditor of 13,000 in the name of Ganesh
Because there is still a loan on us
Press Esc
Come on Gateway of Tally
Press C for Create
C for Create
Come down in Ledger
Press Ledger
Press Enter
Write in Name
G A N E S H
Till now I taught you how to create a ledger
By pressing Alt C in the voucher
Now we are not doing the voucher entry
Because we are not buying
We are putting the opening balance
That's why we have to come from outside
C for Create
Ganesh in Ledger
And you will take Ganesh under the heading of Sundry
Creditors
Because you are sitting after buying a loan from it
And you will come by dragging below
And its opening balance
You will put 13,000
You will put the opening balance 13,000
The person who is troubling you a lot
Make it unknown
Put the opening balance 13,000
My dear friends
With control
As soon as you press A
And Esc
Esc Esc Pressing Then you will go to your balance sheet
Then you will see
Miracle has happened
It has disappeared
My dear friends
From here
The difference in opening balance was coming 13,000 on the
liability side
This is
Vanished Removed Disappeared This is not reflecting any
Absolutely sir
Very good
This is a matter of happiness
I said yes
So if you are watching this class with happiness
Then this happiness is yours
That we have lost the balance of 13,000
Sir tell me one thing
For example
If he says no
His account has been cleared
There is no debt left
Then what will happen?
Then to tell him further
Show that difference 13,000 again
So first delete Ganesh
And learn a new thing today
We are going to delete Ganesh
What we just made
Go to A for Altar and L for Ledger and open Ganesh Babu's
ledger Open Ganesh Babu's ledger
Here press D with ALT and press Y
Press D with ALT and press Y and you would find that while
pressing ESC, go back to the balance sheet and open it, you
can see the 13000 difference again
It's here, it's here, the difference is here again
It's here, it's here, the difference is here again Sir, are
you going to stop the song or should we leave?
I said, no, no, I'll stop the song, you don't go, you stay
here
So, now the second option is if the payment has been made,
then in such a case or if the owner doesn't remember, this
can also be an option I don't know if the payment has been
made or not, but I don't ask for money now and it's a very
old thing
Our bills continue to run from that person Paying daily,
it's an old payment, I don't know if it has been made or not
The balance is still running, so the balance we get from
that person continues to run.
If the owner gives such an answer then in any case, we will
adjust with the capital
If we have a lack of information, then that difference will
be adjusted with the capital account Not only at this
point, if we have a lack of information in the future then
we will adjust with the capital
So, we will put this 13000 in Deepak's capital account
We will put the opening balance in the capital account
For this, you have to come here on the Gateway of Delhi,
press A for Alter Go to Ledger and go to Deepak's capital
account and come down and write 13000 in the opening balance
Save it, come back to the balance sheet Alt F1 and see in
detail that the difference of 13000 has disappeared again
Disappeared! Tushar Kapoor's movie came
If you haven't seen it, then watch it, it is very good
The difference has disappeared
Now let's keep it in the capital Now write the notes of
this point with me
What is the point?
Point number 8
Write the whole story of point number 8 In point number 8,
the noting is going to be very good
Write it
We have written this much
Go to Alter
How to put the opening balance
After this
After doing so much work
A difference in opening balance of rupees 13000 A
difference in opening balance of rupees 13000
A difference in opening balance of rupees 13000
will appear on the liability side of the balance sheet
A difference of rupees 13000
Will appear on the liability side of the balance sheet
You can write like I said
A difference in opening balance of rupees 13000 will appear
on the liability side of the balance sheet
Full stop
This difference will either be posted, this difference will
either be posted as opening balance, as opening balance to
sundry creditors account, to sundry creditors, do not write
account, to sundry creditors, or to capital account, or to
capital account, to capital account, to capital account,
to delete,
Alt plus D, to delete, write Alt plus D, whether you want
to delete voucher, or leisure, or any stock item, this is
the command,
Alt plus D, whatever you want to delete, reach to it, and
press D with Alt, ok, ok,
one more thing we have learned here, say, where will it go,
to trading account, ok, that's why we will take direct
expense, we will take control, and here we will take,
10,000 rupees, enter, we will enter, and what should I do
for credit, is payment from bank or cash, sir payment is
from cash, so we will do credit, cash account 10,000
rupees, write narration below, being, freight charges,
paid in cash, being freight charges paid in cash, with
control A, with control A, come I will take you to pad, and
teach you, this also I will take you to pad, and teach you,
what will be the effect of this, and how balance sheet will
be telling.
see my friends, let's go,
You booked a freight expense as a direct expense in a
trading account of Rs. 10,000.
And what did you do with Rs. 10,000? You paid cash.
So friends, the effect of Rs.
10,000 cash that you have paid will be that in your balance
sheet, your asset side, your cash will be less than Rs.
Does everyone present here agree with me?
Is everybody satisfied? Yes, you should be.
And what will be the effect of this, sir?
Freight expense, the direct expense that we have made in
the trading account.
Look, friends, you made this expense.
Right? So if you are booking an expense of Rs.
10,000, whether it is direct or indirect, whatever the
expense, your profit has not been reduced.
Indirect expense means those expenses which are not direct.
Very simple.
I have told you which are direct.
And those which are not direct, they will become indirect.
Simple.
So whether the expense is direct or indirect.
your profit will be decreased or not? so your profit which
is plus in capital on liability side that will also be
decreased by how much? by Rs.
10,000 so see in my balance sheet, both sides are equal or
not? both sides balance sheet will be decreased by Rs.
10,000 both sides balance sheet will be decreased by Rs.
10,000 so let's see in teleprime if this happened or not
let's see neither it is possible that this happened or not
just like earthquake happened in teleprime earthquake will
happen if balance sheet is mismatched see balance
Rs. 15,47,000 both sides are equal or not?
Rs. 15,57,000 both sides
Rs. 10,000
Rs. 3,24,000
Rs. 3,14,000
Rs. 10,000
Rs. 2,36,000
Rs. 2,26,000
Rs. 1,80,000 was there in the beginning
Rs. 56,000
Rs. 236,000
Rs. 10,000 see this is the whole balance sheet
Rs. 1,80,000 was there
Rs. 56,000
Rs. 10,000
Rs. 2,26,000
Rs. 2,26,000 is it ok? yes, it should be ok ok, very good
have I made you write the notes of this? freight charges
write the notes of this point write the notes of point
number 9 point number 9 entry number 9 go to vouchers go to
vouchers
select payment voucher with F5 select payment voucher with
F5 select payment voucher with F5 select payment voucher
with F5
debit freight charges account under the heading of direct
expenses debit freight charges account
Debit, freight charges account under the heading of direct
expenses
I have said it 3 times, if you ask me for the 4th time, I
will give you an amazing dialogue
After that, enter amount
Enter amount after that
Whatever it is, 10,000 rupees
Next step
Credit, cash account
Last step
Write narration and press CTRL plus A
Let's go
Next point
Step by step, sing happy songs
This is the life of entries, so loot on entries
Very good sir
10th point
Next
Packing expenses, paid by cheque, rupees 15,015,000
Same thing, we have to do the entry of expenses
But this time, we are not doing payment through cash
Where are we doing payment from?
We are doing payment through bank, cheque
Entry will be done through payment voucher only
But where we did credit, cash
There we will do credit, HDFC, bank
Let's do this
This is looking easy like left hand's left finger's left
nail
Come here, come here, come here
Go to voucher, go there
Select payment voucher
Debit will be done
Reason of expense, reason of payment
Rule is debit all expenses
So packing is our expense
That's why we will debit it by pressing ALT C
And if you tell
If I want
Yes, listen sir
If I want, here by not pressing ALT C
I tell you
Do not create ledger by pressing ALT C here
Create ledger in some other way and show
So what will you do?
Sir, we will go out by pressing SK
We will go to C for create
And then we will come here in ledger
Then also the same screen will open
Let's do it once from here
Packing expense
Will this also become direct expense?
Next very important question
Will this also become direct expense?
Yes Pay attention to my words again
The freight that was spent to bring goods to its present
location
That will become direct expense
And I also said other words
Goods to its present location
And Expenses to bring in saleable condition
Saleable condition will be made when its packing is done
Then only it is ready for sale
That's why packing expense will also become direct expense
Do it on GST below
Not applicable
Press with CTRL
A Press SK
Come out
Now you have to go to voucher again
And here in the list
Packing expenses will come
Select from there
Amount is 15000
You will have to do credit
Shady badi bank
HDFC bank 15000 Press CTRL A on this screen
Write in narration
Being packing expenses
Paid by
Paid by check
Being packing expenses paid by check
Press CTRL A and save it
And friends tell me
Now I ask you
Now you make me do it
If you have become an expert
Now you tell me the rest
I will try to stay quiet
Tell me
What will affect my balance sheet
My balance sheet
Poor balance sheet
Little cute balance sheet
What will affect
We have spent some packing 15000 rupees
Which we have put in the trading account
Direct expenses
And we have paid it
Bank account
HDFC bank account
We have paid
Tell me
My asset side
How much will be less
Will be plus
Will be minus
What will happen
Tell me quickly
Very good
The first excellent answer has come
HDFC will be less than the bank 15000 rupees
Absolutely right answer
What will be the second effect
Now you have dropped it from one place 15000 rupees
But this made a mess in the balance sheet
Asset side fell down
Liability side is up
Tell me what to do now
Very good
The packing expense 15000 This expense will drop our profit
From 15000 rupees
By which
Here my profit plus
In capital
That profit too
After falling below 15000
Will be plus
So what will be the effect of both sides
Both sides 15000 15000 Will be less
Is the effect equal?
Yes So my balance sheet 15,47,000 rupees
Now it will be less than 15000
How much will it be 15,30,000 2000 Let's see
Let's see
What to see
That is just to clear your mind
There is no question to see
Come B for balance sheet
Open And see 15,32,000 is coming
Yes See my bank balance
Has become 635
The bank balance
How much was it so far
The bank balance
Till now 6.5 lakh
That has been reduced by 15000
That has become 635,000
And See my profit
My profit 3 lakhs
How much was coming
A little while ago 14,000 3,14,000 3,14,000 3,24,000 10,000
3,14,000 That too
Has been reduced by 15000 2,99,000 Is done
That balance
Is my profit
Absolutely The effect
Is coming right
Note Write Quickly Write Its notes
Go to Voucher
Which point is this
This is point no.10
Go to Vouchers
Select Payment Voucher with F5
Debit Packing Expenses Account
Under the heading of Direct Expenses
Debit Packing Expenses Account
Under the heading of Direct Expenses
Enter Amount
Credit HDFC Bank Account
Enter Amount
Credit HDFC Bank Account
And the last step
Write Narration and Press
Control Plus A
Write Narration and Press
Control Plus A
4 Write it quickly
Friends After this
Our 11th point
Very important point
Sir, you are saying this for all points
Shall I tell you one thing
Actually, all points are important
That's why I say for all
But still I am giving you a disclaimer
Honestly 11th point
Very important
We are going to enter the loan
And not a business
Where you don't get to see the loan
You don't get to see the interest
You don't get to see the installment
Credit Card
Overdraft Facility
CC Limit
You don't get to see all these things
Not possible
Okay That's why this thing
Will be used in the business 11th entry
Learn very carefully
Very important
We will keep the full focus
We will discuss first
We will see the point
We will understand everything
We will go to the pad
We will do the calculation
I will do everything in the telly
Then I will write notes
Then I will show its effect on the balance sheet
And on the note pad
I will explain the effect on the balance sheet
So let's start
Yes Take a break in the middle
Take a break for 5-7 minutes
If you want to eat something
Eat If you want to relax
Relax If you want to see the reel for 5 minutes
See the reel
But only 5 minutes
You should come back here
And if the rhythm is made
Continuity So let's go
I'm going
Okay
Loan taken on
From bank 80,000 At the rate 80,000 At the rate 80,000 At
the rate 80,000 At the rate 80,000 At the rate 80,000 At
the rate 80,000 10% interest payable in 4 equal
installments along with relevant interest.
10% interest payable in 4 equal installments along with
relevant interest.
10% interest payable in 4 equal installments along with
relevant interest.
10% interest payable in 4 equal installments along with
relevant interest.
10% interest payable in 4 equal installments along with
relevant interest.
10% interest payable in 4 equal installments along with
relevant interest.
10% interest payable in 4 equal installments along with
relevant interest.
10% interest payable in 4 equal installments along with
relevant interest.
10% interest payable in 4 equal installments along with
relevant interest.
10% interest payable in 4 equal installments along with
relevant interest.
10% interest payable in 4 equal installments along with
relevant interest.
10% interest payable in 4 equal installments along with
relevant interest.
10% interest payable in 4 equal installments along with
relevant interest.
10% interest payable in 4 equal installments along with
relevant interest.
10% interest payable in 4 equal installments along with
relevant interest.
10% interest payable in 4 equal installments along with
relevant interest.
10% interest payable in 4 equal installments along with
relevant interest.
10% interest payable in 4 equal installments along with
relevant interest.
10% interest payable in 4 equal installments along with
relevant interest.
10% interest payable in 4 equal installments along with
relevant interest.
10% interest payable in 4 equal installments along with
relevant interest.
10% interest payable in 4 equal installments along with
relevant interest.
10% interest payable in 4 equal installments along with
relevant interest.
10% interest payable in 4 equal installments along with
relevant interest.
10% interest payable in 4 equal installments along with
relevant interest.
10% interest payable in 4 equal installments along with
relevant interest.
Loan from HDFC Bank.
Loan is a liability and liability is always a credit.
In a payment voucher, either cash or bank account will be
credited.
Write what I am saying.
In a payment voucher, either cash or bank account will be
credited.
In a received voucher, either cash or bank account will be
debited.
To complete their entry, you have to write the reason for
the payment.
In a received voucher, either cash or bank account will be
debited.
To complete their entry, you have to write the reason for
the payment.
Loan from HDFC Bank.
Alt C.
Loan from HDFC Bank.
Take this as an unsecured loan.
This is not a mortgage.
This is a secured loan.
Press A with control.
How much is the loan?
Sir, the loan is Rs. 80,000.
Write here Rs. 80,000.
Press Enter.
Debit the HDFC Bank account as the money is coming to the
bank.
Press A with control.
Write here being loan taken from HDFC Bank.
Being loan taken from HDFC Bank.
Press A with control.
What will be the effect of this entry on my balance sheet?
Let me try to show you.
I have taken a loan.
What will happen?
First, my HDFC Bank balance will increase by Rs. 80,000.
I will get money in that.
And tell me, will I get a loan?
Yes, sir.
Unsecured loan will increase the liability of Rs. 80,000.
Is my balance sheet ready?
Yes, sir.
Let's see in Teleprime.
The same effect should be seen in Teleprime's balance sheet.
Press Esc.
B for balance sheet.
Alt F1.
View details.
Your bank balance is Rs. 7,15,000.
How much was your bank balance a while ago?
A while ago, your bank balance was Rs. 6,35,000.
You are taking a loan of Rs. 80,000.
So, your bank balance is Rs. 7,15,000.
On the other side, there is a liability of Rs. 80,000 in
the name of unsecured loan.
In the name of unsecured loan, it is Rs. 80,000.
Okay, sir.
The same effect.
Write down the notes.
Go to Vouchers.
Select Receipt Voucher with F6.
Credit Loan from HDFC Bank Account under the heading of
Unsecured Loans.
Enter Amount
Debit HDFC Bank Account
Write Narration and press CTRL plus A
Now it's time to apply interest on this loan
To apply interest, you have to visit V4Voucher
Select F7
Sir, you won't select a payment voucher
I said, why?
Sir, will you pay interest of Rs 8000?
He didn't understand me
Right now, we are not paying interest
We are just investing the interest
Interest is only getting charged
Not paid
Payment will happen when you pay the installment of Rs 28000
In that, along with principal, interest will also be paid
Right now, only interest is being invested
If you don't invest Rs 8000
Then when you make a payment of Rs 28000
Then from Rs 80000, Rs 28000 will be deducted
Then your principal is getting deducted
Then where is the interest?
You will pay the interest only when you invest
Right sir
We will debit
According to the rule of Debit All Expenses
We will debit the interest account
Interest is an expense
That's why it will be debited
Interest on HDFC Loan Account
And for the first time, Indirect Expenses are coming
This is not related to the goods
There is no need to bring the goods in its present location
or saleable condition
That's why Indirect Expenses will be made
GST not applicable
Let's go from here
Press CTRL A
You know the amount of interest
On the first installment, it is Rs 8000
Enter the amount
Enter What will be the credit?
What will be the credit?
Very good answer
Loan from HDFC Bank will be credited
On loan of Rs 8000
Interest of Rs 8000
So the loan will be Rs 88000
When the loan will be Rs 88000
Then when you will pay the first installment
Rs 28000 which I had written on the pad
Finally, your balance will be left
Rs 60,000 means Rs 60,000
Ok sir
So write this narration below
Link Interest Charged On loan
Ok Interest is an expense
Debit will be according to the rule of Debit All Expense
And this will increase your loan
When the loan will be Rs 88000
Then we will pay the first installment Rs 28000
In that, interest of Rs 8000 and interest of Rs 20,000 will
be reduced
Outstanding loan balance will be Rs 60,000
Ok sir
Press A with CTRL
And friends
What should be the effect of this on my balance sheet?
Let's see
We are on the pad
Tell me what will be the effect of this on the balance
sheet?
Here is the balance sheet
Very good
Sir, in our loan
We have added interest of Rs 8000
So it will be plus
It will increase by Rs 8000
What will happen?
It will increase by Rs 8000
Shall I tell you more?
The expense you have booked, interest
This expense will reduce your profit by Rs 8000
Say yes or no
Yes sir
So here
The profit that is going to be plus
That will also fall below Rs 8000
So what will happen?
One side of my balance sheet will go up by Rs 8000
And then it will come down by Rs 8000
The matter will remain there
This side also zero effect
Rs 8000 minus Rs 8000
And this side is zero effect
So my balance sheet will remain Tally
Let's see this in Tally Prime
B for balance sheet
Alt F1
Look, my profit is less than Rs 8000
Profit of Rs 2,99,000 is less than Rs 8000 2,91,000 is left
And look above
My unsecured loan has increased by Rs 8000
Loan of Rs 80,000 became Rs 88,000
Okay sir
Write notes
Entry for
Charging interest on loan
Entry for charging interest on loan
Go to vouchers
Select journal voucher with F7
After that write
Debit interest on HDFC loan account
Under the heading of indirect expenses
Debit interest on HDFC loan account
Under the heading of indirect expenses
After that
Enter amount
After that
Credit loan from HDFC bank account
Last step
Write narration and press
Control plus A
Write narration and press
Control plus A
Write narration and press
Okay sir
Okay, so sir
We have taken the loan
We have invested interest
Now the time has come to pay the interest
Now those people who were shaking hands
Were not entered in the payment voucher
In the payment voucher
It is time
To enter the payment voucher
Now go to the voucher
And select F5 payment
Now the payment will be done
And I have told you
In the payment voucher
Credit is cash or bank
Wherever you are paying from
And debit is due to payment
Why are you paying
Sir, what are we paying now?
Sir, we will pay the loan from HDFC
How much? 28,000 Very good
Enter My HDFC bank will be credited because we will pay the
loan from the bank
Payment will be deducted from the bank
The bank won't get the money
Ok Press enter to control and write the narration
Being first installment paid
Very good
Excellent Press ctrl A to save
I will take you to the notepad to explain the effect
What will be the effect of this on my lovely balance sheet?
My lovely balance sheet
My innocent balance sheet
See this
You made the payment
How much? 28,000
So my HDFC bank balance will be deducted
Yes or no?
Yes On the other hand, your unsecured loan which was 88,000
will also be deducted
Yes or no?
So both sides will have minus 28,000 balance sheet
Yes sir, balance sheet will be deducted
There will be an earthquake on earth
Teleprime Let's check teleprime
Escape B for balance sheet
Unsecured loan
From 88,000 to 28,000 60,000 60,000 My bank balance
7,15,000 It was a while ago
It has also been deducted
From 28,000 to 687
The effect on both sides is the same
My balance sheet 16,12,000 Total on both sides 15,84,000
15,84,000 Note Note
Go to vouchers
For payment of installment
Go to vouchers
Step 1
Step 2
Select payment voucher with F5
Step 3
Debit Loan from HDFC bank account
Enter amount 28,000 Enter amount 28,000
Credit Credit Credit Credit Credit Credit Credit Credit
Credit Credit Credit write narration and press ctrl plus
write narration and press ctrl plus ok let's revise today's
class
see this from where we started we started from sale entry
we will go to sale voucher ok in party name we will take
cash in stock item we will take smart watches 8 piece at
the rate 7000 each we will write entry narration and save
what will be its effect its effect will be cash balance
will increase in balance sheet 56000 and my stock will also
decrease the 8 piece I bought at the rate of 4000 at the
rate of 32000 so my net 24000 will increase and your 24000
will increase next is 8th point to
opening stock go to alter go to stock item then select the
stock item drag it down and put opening balance but if you
just put debit opening balance then there was a problem
either adjust it in creator and if you don't know anything
then adjust it in capital account freight on purchase is
paid in cash entry in payment voucher we will debit freight
account under direct expense and credit cash account
packing will also become direct expense and lastly loan
entry first take loan entry then pay
and then deposit the notes I have given you in between will
be very useful keep revision and the effect I have shown
you on the balance sheet that is the main thing you have to
be expert with this note, thank you, bye bye, see you all
in the next clip if you have any doubts, contact me on the
time slot allotted till then, thank you and bye bye