Hello friends, it's time to do depreciation in telly, let's
do depreciation in telly.
I hope you have reviewed the question that we did.
We have to cover the whole case in telly prime today.
That complete case has to be done in telly software.
So let me flash it once.
And how do we have to move things forward?
Let's go together, let's see together.
This is the case we have.
A Enterprises purchased some machinery on 1st January, 2023.
Spent Rs. 18,000 in reaction in 5-82.
Total purchased Rs.
6,00,000, right?
Yes, sir.
After that, on 1st July, 2023, we bought another machine
for Rs. 2,00,000.
On 1st July, 24, we sold the first machinery.
On the same day, we bought another machinery.
Number 3, rate of depreciation will be 10%.
WDV, pass general entities and prepare machinery account.
So what we saw manually on this pad, now let's do it in
telly prime.
What was our first entry?
Our first entry was this.
Machinery account, debit to bank account.
Our entry to buy machinery is Rs. 6,00,000.
Our first entry to buy machinery is Rs. 6,00,000.
Let's do it in telly prime.
Now we have to make some payment from the bank.
If you buy something, my dear friends, then we should have
some balance in the bank.
So let's create some bank balance first.
Let's do the entry to invest capital.
And before that, create a company in the name of A
Enterprises.
Create a company in the name of A Enterprises.
Alt F3.
Come up, create a company.
And friends, all the people must be thinking how can we do
this question in telly prime.
In this question, the date was 1st July.
In this question, the date came which cannot be changed
from 1st April.
So friends, this paid version, licensed version is open in
front of you.
And in this, we will get you the dates which are in our
questions.
For example, any date.
Very good, sir.
And from here you will get to know that paid and licensed
mode are totally same.
You will believe it today.
Only the date is different.
A Enterprises.
Enter the address.
Enter the mobile number.
Enter the email id.
And friends, friends, in our question, calendar year was
followed.
In our question, calendar year was followed.
Year from 1st January to 31st December.
So if we have any such organization which does January to
December accounting, then what we have to do in that case,
whenever we create a company, at the time of organization
creation, here in financial year beginning form, you have
to take 1st January.
Our year 1st January is starting from 2023.
We will talk about it later.
So you take financial year beginning form.
1st January, 2023.
Books beginning from 1st January, 2023.
Same to same.
1st of January, 2023.
Take this and go.
Press A with CTRL.
There is no need to activate GST.
We are learning something else now.
There is no need to activate GST.
We are learning something else now.
Okay, sir.
Now let's go to PAD.
And see, we have to pass entries one by one.
We have to start passing entries one by one.
Our 1st entry is
Machinery Account Debit to Bank.
For this, invest capital so that you can make payment from
bank.
Then we will have some money available.
Come to V for Voucher.
Capital entry is in Received Voucher.
Now I will not say why, how,
I will just keep doing it.
There will be credit.
Press ALT-C, A is Capital Account.
Under the heading of Capital Account, press CTRL-A.
Invest Rs. 10 Lakhs.
Invest Rs.
10 Lakhs in HDFC Bank.
HDFC Bank will be created under the heading of Bank Account.
You can put any account number here.
Press CTRL-A.
That's it.
Okay, sir.
After this,
Narration, Bing.
Bing.
Capital Invested in the
Bank Account.
Okay, sir.
Save it by pressing CTRL-A.
Come to Balance Sheet.
Press ALT-F1.
Bank Balance is Rs. 10 Lakhs.
Capital is Rs. 10 Lakhs.
Now you can buy something.
You can make payment.
Now we have so many options.
Let's buy the machine worth Rs.
6 Lakhs.
Come to V for Voucher.
Tell me which voucher will be used.
Which voucher will be used for this entry?
I'll give you 3 seconds.
Tick-Tick 1.
Tick-Tick 2.
Tick-Tick 3.
Your time is over.
Look at this entry.
Bank account is getting credited.
What lesson do you get from here?
Entry will be in Payment Voucher.
Where will be our first entry?
In Payment Voucher.
Come to the place where these notes are written.
Equal and write.
This first entry will be in Payment Voucher.
Tomorrow you will remember.
You will not feel any problem during revision.
Okay, sir.
This entry will be in Payment Voucher.
Now come to Payment Voucher.
Select Payment Voucher from F5.
Done.
Okay.
Tell me what is the reason of debit instead of payment?
What is it?
Create with Alt-C.
Write Machinery 1.
Machinery 1.
Okay.
Okay, sir.
Under the heading of Fixed Assets.
Correct answer.
Under the heading of Fixed Assets.
Take the goods in the type of supply.
Press Ctrl-A and save it.
Take the goods in the type of supply.
Press Ctrl-A and save it.
After 6, write in debit.
1, 2, 3, 4, 5, 0.
After 6, 5, 0.
This is 6 lakh rupees.
Okay, sir.
What will be the credit?
Credit HDFC bank account.
First write 5,82,000.
Credit HDFC bank.
And write 18,000 separately.
Sir, why we are not writing 6 lakhs?
You have to tell separately.
You have to give 6 lakhs breakup also.
5,82,000 is of machine.
And 18,000 is of erection.
You have to write 6 lakhs in machine account.
Because the expense of erection will also go in machine
account.
You cannot write separately there.
If you divide bank into two, you will know.
5,82,000 payment from bank is for machine.
And 18,000 payment from bank is for erection.
Okay, sir.
Narration will help you more.
Narration is very useful here.
Being Machinery purchased and 5,82,000 paid for machinery
and 18,000 for erection of machinery.
See this.
Today you can understand the use of narration better.
You can see why narration is so useful.
You will be better defined from here.
Okay, sir.
Okay.
6 lakhs machine.
Payment in two pieces.
You should have the same.
Today we have used 1 January date.
See the date above me.
1 January 2023 1st January
Licensed mode
I have activated.
In vocational mode, 1st, 2nd and 31st March
We have these three dates.
1st January
Licensed mode
Okay, sir.
Press A with CTRL
Save it.
Go to your balance sheet.
See if you can see machinery.
Machinery is 6 lakhs.
Bank balance is 4 lakhs.
Because you have paid 6 lakhs.
5,82,000 machine and 18,000 for erection.
Okay, sir.
Okay, this is really really good, sir.
I said yes.
Let's move ahead.
What is happening on the second number?
Sir, now 1st July 2023 Our target is this entry.
1st July
We have to enter 2023.
The day we bought the second machine.
Machine number 2.
In how much money? 2 lakhs.
Sir, do we have a break up of 2 lakhs?
No, sir.
There is no erection in this.
Machinery came and started working.
Assume it as a laptop.
You bought it.
You kept it with you and started running.
There are no charges of erection.
You can assume it like this.
Okay, sir.
No problem with that.
Okay, let's go.
Let's enter this too.
1st July, 2023
Let's see.
Which voucher will this entry be in?
All smart kids tell me.
Which voucher will this entry be in?
Sir, this is also not different from above.
See this too.
We are paying from the bank while buying the second machine.
So the second entry. The first entry will also be passed in
the payment voucher in teleprime.
The second entry will also be passed under the payment
voucher.
Enter v4 voucher.
F5 payment voucher is already selected.
And this time, if you are buying machinery number 2, then
create a separate account by pressing Alt C.
Machinery number 2.
You have to keep the record of all the machines you buy,
right?
Everyone's closing balance should be separate. Everyone's
record should be separate.
If you sell any of them, then all the data will be clear.
If you put all the machinery in one account, then it will
be a mess.
Create here. Machinery number 2 under fixed asset.
Type goods in the type of supply.
Save it by pressing Ctrl A.
And what will be the debit? Debit will be 2 lakhs.
The 2 lakhs that we are paying will be debited.
We are also paying for this from HDFC bank.
So this will also come here in HDFC bank.
Bing Machinery number 2 purchased.
And payment made by cheque.
Save it by pressing Ctrl A.
Press Esc. Come out on Gateway of Tally.
B4 Balance Sheet. Alt F1. And see, Machinery number 2 is
also seen.
In my fixed assets, 2 machineries have started to be seen.
Machinery 1, 6 lakhs. Machinery 2, 2 lakhs.
From here, my bank balance has become 2 lakhs less.
Earlier it was 10 lakhs, then 6 lakhs reduced to 4 lakhs.
Now I have made another payment of 2 lakhs. Only 2 lakhs
are left.
Capital is intact. It is still there. 10 lakhs.
No adjustment has been made on capital.
Because there is no income, no expense, no drawing.
This is what affects capital. Neither has it been drawn on
capital.
Capital is maintained intact. There is no difference on
capital.
This was the entry to buy a machine.
On 1st January and 1st July.
What is the next entry?
On the last day of this year, on 31st December, 2021,
depreciation will be applied.
And then we have entered it to transfer P&L to depreciation.
And the account has to be closed here.
These are the 3 things we have now.
On the last day of the year, we have to apply depreciation
on 31st December, 2021.
It has to be transferred to P&L and the account has to be
closed.
These are the 3 things.
Before proceeding further, can you tell me the break-up of
Rs 70,000?
Yes, sir.
In Rs 70,000, depreciation of Rs 60,000 is on the first
machinery.
And Rs 10,000 is on the second machinery.
In this, machinery no. 1 has Rs 60,000.
And machinery no. 2 has Rs 10,000.
We will need different things there.
Because machinery no. 1 and machinery no. 2 have different
accounts.
So, we will need different things there.
We will show depreciation separately there.
Okay, sir. No problem with that.
Okay, friends. Come here.
Tell me in which voucher this entry will be in.
Depreciation to machinery.
There is no payment.
There is no bank credit.
There is no receipt.
There is no cash debit.
There is no contra voucher.
There is no sale.
There is only journal voucher.
There will be entry in journal voucher in F7.
Okay, sir.
Press escape.
Go to v4 voucher.
Press F7 and take journal.
There will be debit and depreciation.
You will have to create by ALT C.
Under the heading of INDIRECT EXPENSES.
Keep type of ledger not applicable.
Save it.
Type total depreciation.
Total depreciation is 70,000.
Credit machinery 1 with 60,000.
Depreciation of machinery 1.
Depreciation of machinery 2 with 10,000.
Depreciation will be debit with 70,000.
Credit machinery 1 account with 60,000.
Credit machinery 2 account with 10,000.
Write the narration below.
Depreciation charged for full year on machinery 1.
Machinery 1 account with 60,000.
For 6 months on machinery 2.
Machinery 2 account with 60,000.
At the rate of 10%.
For 6 months on machinery 2.
Keep it in narration.
Press Control A.
Now go to your PAD.
The next entry is P&L Account Debit to Depreciation Rs.
I am telling you that it will give you the Tally Entry by
itself
In Profit and Loss, if you want to transfer anything, if
you want to make a balance sheet,
All this work is done by Tally Prime by itself
So you will get this automatically
First write Journal Voucher on this entry
Write Journal Voucher on the top one
We have not written that this entry will be in the Journal
Voucher
And this P&L to Deption will automatically tally this entry
You will get this automatic pass
You just have to see whether it is done or not
That is also because we are going through the process
When you actually work in companies, you will not even check
You have faith in Tally
You will know that it is not possible that Tally makes a
mistake
It's not possible
For now, let's check
Press P for P&L
Come to Gateway of Tally
View F1 Detailed with Alt
So you can see here
Depreciation Rs.
You can see that Depreciation Rs.
70,000 is visible here
Yes, sir
This is the same entry
This is P&L account
And in this, Deption is coming from two sides
So this is P&L account
Debit to Depreciation account
It transferred itself
Come back to the pad
What is our next task?
Sir, our next step is something like this
That we have to close the account
Now, brother, Tally also does the work of closing this
account
Tally also does this work
Should I show you?
Come to your ledger
Come to the account you have made manually
See this
This is the first year in the account you have made manually
I highlight this here
This is the first year
Yes, sir, this is our first year
Now, when you took out the closing balance
When you balanced the account on the last day of the year
Then your Machinery 1 has Rs.
And Machinery 2 has Rs.
How did Machinery 1 get Rs.
Machinery 1 got Rs.
And Rs.
60,000 was left for Rs.
Machinery 2 got Rs.
And Rs.
10,000 was left for Rs.
Machinery 1 got Rs.
540,000 and Rs.
1,90,000 in total
Rs. 7,30,000
Tally does this work himself
He will show you Rs.
540,000, Rs.
1,90,000 and Rs.
7,30,000 himself
Should I tell you how he will show?
Come here
Come here, friends
Come here and understand the glory of Tally
Press Esc
Come to Gateway of Tally
Press Esc and come to Gateway of Tally
We are here, sir
Friends, D for Display
A for Account Books
L for Ledger
D-A-L D-A-L Display, Account Books, Ledger
Okay Open the account of Machinery 1
And see how much is the closing balance below
How much is the closing balance below?
Here is Rs.
Did I tell you how Rs.
540,000 came?
I bought it for Rs.
And depreciation of Rs.
Closing balance is Rs.
Very good, sir
Very good
Press Esc like this
And Machinery No.
He is making the account of Tally himself
However, you don't tell me
Why doesn't it look like this at all?
In T-shape 2 by
Just like ours
Manually it is a little different
Software does it in a different design
It is all about values and figures
You focus on value and figure
Whether that thing is right or not
Yes And how Tally presents
See that thing and learn
Don't fight with Tally
Why didn't you make it like us at all?
Nothing like that happens
See Machinery No.
How much is left in it?
Rs. 1,90,000
And Tally is telling you how Rs.
1,90,000 came
He is saying that you made a debit from Rs.
When you bought the account of Machinery No.
Machinery No.
And then while depositing Rs.
You credited it
So 2 minus 10
This is Rs.
1,90,000 left
Yes, sir, he is also right
Now how will we read this in your account?
We are reading this thing in your account
That made a debit from Rs.
Yes, sir
Means you made a debit from Rs.
When you bought the account of Machinery No.
And then you credited it from Rs.
See here it is written on the credit side
Rs. 10,000
By depreciation
And Rs.
1,90,000 is left
Rs. 1,90,000 is left
Okay, sir
We read it out in this way
The presentation is a little up and down
There is nothing
The thing is exactly the same
It is similar
It is exactly the same
So our Tally himself finishes this step
We don't even need to take care
This is what we used to forget
I had sworn
At that time I had said
Although there is no need for Tally
But still
We should know the process as knowledge
Yes, sir
Half incomplete information is always dangerous
Even if one thing is discussed
But the whole thing should be completed through the process
One thing should be discussed extra
So PNDL to Deption is done by Tally
Account is closed by Tally
Now we can move in 1st July 2024 1st July 24 means our year
is 2024 1st January 24 to 31st December 24
Now we have to activate year 2024
First in Tally or else it will not be entry 1st July 24 we
are buying 3rd machinery
Machinery to bank is 4 lakhs
First write here it will be entry in payment voucher
Write here it will be entriy in payment voucher
It is written
Here it is
Press ESC and come out of gateway of Tally and come out of
gateway of Tally press v for voucher and select payment
voucher from F5 and date is 1 july 2024 so select the date
press F2 oho oho oho oho oho oho as soon as we select the
date from F2 1 july 2024 press enter see there is a warning
date cannot be above the current period date cannot be
above the current period date cannot be above the current
period date cannot be above the current period means we
have to select the year 2023 to enter
we have to select the period this error comes a lot with
students this error will be seen a lot so work on this
carefully while pressing SK come out while pressing SK come
out on gateway of Delhi and here press F2 with ALT here
press F2 with ALT and here take 1 january 2023 31 12 2024 1
january 2023 31 12 2024 year 2023 and 24 both are here 23
and 24 both are here ok sir why we did this because we have
to do 2 years if you have to do 25 then write 25 write 26
write 27 telly will not deny now
enter now press enter and go to v for voucher and for F5
payment select F2 and date is 1 july 2024 telly will not
deny as soon as you press enter telly will not deny now
here ALT C and create machinery number 3 machinery 3 under
fixed assets fixed assets goods here take goods control and
how much is this 3rd machinery 4 lakhs 4 1 2 3 4 5 credit
HDFC bank 4 lakhs credit HDFC bank negative balance what
will it do now increase write here
BINK machinery number 3
PURCHSED and PAYME by CHEQUE payment made by cheque
press A with CTRL and ESCAPE come to B for balance sheet
come to B for balance sheet
ALT with F1
ALT with F1 and see fixed assets see fixed assets machinery
number 3 is also visible machinery 3 is also visible our
bank balance left side is negative 2 lakhs how to do
ESCAPE and D for display
D for Debug
D for display D for Debug only one entry is visible
ALT F2
ALT F2 1 January 2023 and here 31-12-24 all entries will be
visible take the same period 1 January 23 to 31-12-24 now
in this first capital entry enter and make 20 lakhs
20-1-2-3-4-5 and save with CTRL so our bank balance will be
positive make 20 lakhs sir one more mistake
I said which can any kid tell one mistake we have to
correct it with bank balance one more error when we did
this depreciation entry see below 70,000 we did not pay
attention to date press F2 and take 31-12-2023 press F2 and
take 31-12-2023 and press A with CTRL now everything is
fine now everything is fine now everything is fine fine so
we did 4 lakhs entry we did 4 lakhs entry now we move
forward in payment voucher now we are doing a sale on 1
July 24 now it is time to sell the first
we sold the first machinery on 1 July 24 so tell me what
will happen we have to pass the same entries on 1 July 24
first we have to pass depreciation entry from 1 January 24
to date of sale from 1 July 24 and then this entry bank
account, debit to machinery we have to pass these 3 entries
no problem let's do depreciation entry on 1 July 24 come
escape in which voucher sir in journal voucher in which
voucher so write in your notes that this entry will be in
journal voucher and one more thing we have to show in telly
prime that how this 27000 is coming, don't write directly
we have to show this calculation we will show this
calculation in narration the calculation written below 6
lakhs minus 60 thousand into 10 percent into 6 divided by
12 we have to show this calculation in telly ok sir yes sir
no problem so let's do this entry in
prime
here it is come select journal voucher v for voucher, F7
journal voucher what will be the debit depreciation already
created sir make depreciation account also no no no
depreciation account is same put all machinery in it make
machinery 1,2,3 if you want to see how much depreciation on
machinery 1 then press DAL and go to machinery 1 account
you will see depreciation of machinery 1 if you want to see
2 then press DAL so no need to make depreciation ok sir in
depreciation account 27000 rupees
which machinery depreciation account is on machinery 1 so
in credit you will write machinery number 1 depreciation
account debit 27000 and credit will be machinery number 1
27000 write narration narration will be very long deption
charged on machinery 1 sold on 1 july 2024 write narration
with me write narration with me being depreciation charged
on machinery 1 sold on 1 july 24 from 1 january 24 to 1
july 24 what is the meaning of this line machinery number 1
which is sold on 1 july 24 from 1
24 to 1 july 24 depreciation depreciation till date of sale
being depreciation charged on machinery number 1 sold on 1
july 24 from 1 january 24 to 1 july 24 and how to calculate
6 1 2 3 4 5 6 lakh minus 6 lakh minus 60 thousand write it
in teleprime put bracket 6 lakh minus 60 thousand and for
multiplying press star with shift press 8 above 1 2 3 4
with shift press 8 1 0 10 with shift press 5
6 lakh minus 60 thousand multiply 10 percent press star
again 6 divided by 12 what was written there write that 6
lakh minus 60 thousand 5 lakh 40 thousand 10 percent 6
divided by 12 it is important to write it is important to
show it is important to show write complete narration being
depreciation charged on machinery 1 sold on 1 july 24 from
1 january 24 to 1 july 24 is equal to 6 lakh minus 60
thousand star 10 percent star 6 divided by 12 now after
enter press do not save it because press F2
take its date 1 july 2024 we will change the date from next
time take date 1 july 24 ok sir now save it now press ctrl
A and save and press escape and come out press escape and
come out now we have to focus on next entry the effect of
this entry will be that my depreciation account balance
will increase and machinery 1 balance will decrease
Open machinery 1
D for display, A for account book ledger
Open machinery 1
Press Alt F2
Take full period 1 January 23-31-12-24
Bought in 6, 60 adaption
Till now it was 540, now see it has reduced to 27000
Showing 5,13,000
Balance of 27000 has been reduced
Showing 5,13,000, closing balance is down
Press Esc, P for P&L
Press Alt F1
Tally has passed second entry
How much adaption was coming in P&L? 70, but now 27000
Total is 97,000
P&L to adaption, Tally has passed next entry
Tally has passed next entry
Tally has passed this entry automatically
This entry is automatic
Write in your voucher
This entry is automatic
Next entry is for sale, the amount is 3,86,000
Can you tell in which voucher it will be?
Sir, bank account is debiting
So we will do this entry in Received Voucher
Bank account is debiting, so where will this entry pass?
It will pass in Received Voucher
Come to Tally Prime
We have to do this on 1st July 2024, remember
Press Esc, V for Voucher
Take Received Voucher F6 and Date
Now make a rule in Tally for ever Make a rule in Tally for
ever
Close your eyes and extend your hand, say with me
We swear today
That from now on
Whatever entry we will do in Tally Prime We will select the
voucher type first
We will select the voucher type first And then select the
date
After that only we will move ahead If we break the oath
Then God will punish us
Okay sir, now we will not break the oath
Otherwise we will be punished
Now take the date 1st July 2024
Select the voucher type, Received Voucher
And then take the date 1st July 2024
Now what do you have to credit?
See your entry
What the hell has been credited in our entry?
Machinery account is 3,86,000
Debit bank account is 3,86,000
Machinery number 1
Credit Machinery number 1 3,86,000 Debit HDFC bank account
is 3,86,000
Write the narration below
Machinery number 1
And payment received by cheque
Write it all
Being Machinery number 1 sold for 3,86,000
And payment received by cheque
And save it with ctrl
What will be the effect of this entry?
Bank balance will increase and Machinery number 1 will
disappear
Bank balance has increased and Machinery number 1 has
disappeared
Machinery number 1 has gone
Let me show you
First go to balance sheet
Press Alt F1 and see the bank balance
It has increased 11,86,000 How much did we put in the
beginning? 20 Lakhs
Minus 6 Lakhs 8 Lakhs 3,86,000 8 Lakhs plus 3,86,000
11,86,000 You will get the full view 20 Lakhs
Select the whole period 1st January 23rd 31st 12th 24th 20
Lakhs 6 Lakhs 3,86,000 11,86,000 Press Esc
Press Esc
Now Little trick
Machinery number 1 should disappear
Press D, A, L
Open Machinery number 1
See Select the whole period
See 1,27,000 What is this 1,27,000 balance?
Machinery is gone 1,27,000 Why is it not showing 0?
Because you have not entered this
P&L account debit to machinery account
The loss you have incurred while selling the machinery
That will also be credited to your machinery account
You have to pass this entry
In the journal voucher
You have to pass this entry
You will get this in the journal voucher
We understand you
Very good
I will explain this to you in teleprime
Think from teleprime's angle
First, teleprime has shown 6 Lakhs
Machinery number 1
Then teleprime has credited minus 60,000
The first year's debt is 60,000
Yes sir
Then they put 27,000
Your machinery is 5,13,000
Keep calculating 6,00,000-60,000-27,000 5,13,000 And
teleprime is saying
Only 3,86,000
Minus 3,86,000
This debit balance
This is a loss
Calculate the loss
You don't have to calculate 6,00,000-60,000-27,000 Your
machinery was 5,13,000
And you sold only 3,86,000
Minus 3,86,000-27,000
Write off this loss
And credit the machinery
Teleprime wants to tell you
This is what teleprime wants to tell you
Ok sir
Let's go
Let's fulfill teleprime's need
Press A with ALT
Press ALT A
Select voucher type
F7 Select date
F2 Debit will be Profit & Loss
This is coming
Cash & Profit & Loss
Two accounts
Profit & Loss 127,000 127,000 Debit Profit & Loss 127,000
127,000 Enter Being Loss on sale of
Machinery no.1
Recorded Being loss on sale of
Machinery no.1
Recorded Press A
With CTRL
What should be the effect of this entry Debit side
Machinery account balance should be 0
Machinery no.1
We entered from here
Closing balance is 0
Now teleprime is telling
You bought in 6,00,000
Machinery account balance is totally clear
No entry will be
Machinery account balance is clear
Everything is placed
Enter Press P for P&L
Press P for P&L
Press Alt and F1
Press Alt
Press F1 that.
and my dear friends you can see the depreciation the loss
in P&L account is not visible ok, whenever it happens sir,
you just made the debit, it seems like something is wrong
whenever you feel like this, check the period check the
period once what is the period? we have to change the period
we have to change the period we will change the period
why it is not visible? wait a second
no sound
by watching this we get to know
He didn't take it directly, he didn't show it in P&L
So what I did, you guys come back
Come back, D for Display, D for Debug
Press, D for Display, D for Debug
And the entry we did of 1,27,000, come in that
Come in the entry of 1,27,000
And you guys have debited here, Profit and Loss Account
Here press C with Alt
Here press C with Alt and create a new account
Create a Loss on Sale of Machinery Account under Indirect
Expenses
Create a Loss on Sale of Machinery Account under Indirect
Expenses
Do it once, do it with Alt C
Create a Loss on Sale of Machinery Account under Indirect
Expenses
Okay Sir
Then save it with Ctrl A and come out
Press P for P&L, Alt F1, you will see here
Debit side in P&L, 1,27,000
He didn't pick from Direct Profit and Loss, let's see why
Okay, that's enough for now
Okay, come out
Okay, next come back to your pad
What do you have to do, this entry you have passed in the
journal voucher
And here you have used
Loss On Sale of Machinery Account
Which created under the heading of Indirect Expenses
You can write P&L in your notes, it's okay. We have changed
it in the tally.
Okay sir. 31-12-24. When does the next date come?
31-12-2024.
What are we doing on this day? Now we are depositing on the
remaining machinery number 2 and 3.
So in which voucher will this entry be made? This entry
will be made sir, in the journal voucher.
The entry of depreciation will be passed in the journal
voucher only.
No one is going to stop, no one is going to interrupt, no
one is going to say, no one is going to listen.
Okay sir. Let's come to the journal voucher. Come to tally
prime.
V for voucher. Select F7. And take the date. Date
31-12-2024.
Take the date 31-12-2024. Press enter. Debit depreciation.
Debit depreciation account.
How much is the amount? Look at the entry, how much is the
amount?
Let's see how much the amount is. 39000 sir, 19000 on
machinery 2 and 20000 on machinery 3.
Okay. 39000. Credit machinery number 2. How much is the
amount? 19000.
And credit machinery number 3. How much is the amount?
20000.
Credit machinery 2 is 19000 and credit machinery 3 is 20000.
Press enter and write being depreciation charged on
machinery 2 at the rate 10% on 190000.
How did I get 19000? I charged 10% on 19000. This is WDV
method.
And on machinery number 3, 10% on that too.
At what value? 10% on machinery number 3. At what value? At
400000.
For 6 months.
10% on 400000 is 40, right? Yes. But it is for 6 months.
That's why it is 20000. Because you bought machinery number
3 on 1st July 2024.
And you are entering 31-12-2024. So 6 months have passed.
Only 6 months have passed. Yes, sir.
Being depreciation charged on machinery number 2 at the
rate 10% on 190000.
And on machinery number 3 at the rate 10% on 400000 for 6
months.
Write the entire thing. The better you write in narration
and depreciation, the better.
While doing depreciation, the better narration you write in
teleprime, the better.
Okay, sir. No issues. Okay, sir. No issues at all. No
problem at all.
Take control and save it. Okay, sir.
Now what effect will this have?
Depreciation will increase in my P&L and the value of my
machinery 2 and 3 will go down a little.
Yes, sir. Absolutely. Come, I will show you.
Press P for P&L. Alt F1 and see. Depreciation has become
136 in total.
Go inside and see. At the beginning, it was 70. Then 60 and
10.
It was 27 when I sold the first machinery and now it is 39
on machinery number 2 and 3.
It has become 136 in total. Yes, sir.
Press SK and come out. Press B for balance sheet. Press F1
with Alt.
And see, machinery number 2, which was showing 190000, is
now showing 171.
If you do 190000 minus 19000, this is what comes.
And machinery number 3, which I bought at 400000, you have
put a depreciation of 20000 on it.
So how much is this? 380000.
How much is machinery 2 showing? 380000.
Okay, sir. Come, how much is the total? 551000.
Will you come to the pad once? Yes, sir. I will definitely
come to the pad.
Come to the pad once and see.
This entry, TELI automatically passed? Yes, sir.
Automatically passed.
By TELI Prime.
Automatically passed by TELI Prime.
After that, all the entries end.
And what was the balance on the last date in this account?
What was the balance on the last date in this account?
You see, it was 551000.
And TELI gave us up to 551000. Yes, sir.
TELI is also showing the same.
The balance of machinery number 2, it showed the same in
the balance sheet, 171.
And machinery number 3, 380000.
In total, it is also showing 551.
Absolutely right.
So TELI has brought us here.
Come, let's open the account of machinery 2 and 3
individually in TELI Prime.
Let's open it individually and see.
Come on.
Escape.
D.A.L.
Dal.
D.A.L.
Dal.
Sir, why are you reminding me the name of such a bad
vegetable?
We can't even eat cottage cheese every day.
Sometimes we also eat lentils.
Although I don't eat it myself, what knowledge should I
give you?
Machinery number 2.
Press enter.
Press Alt F2 and select the entire period from start to end.
From January 1, 2023 to December 31, 2024.
Look at it.
TELI is giving you the entire balance sheet.
I bought it for 2 lakhs.
I deposited 10,000 once.
And deposited 19,000 once.
First, I deposited 10% on 2 lakhs.
For 6 months, 10,000.
Remained 1.90.
Then I deposited 10% on 1.90.
For the whole year.
So it became 19,000.
So this value is remaining.
171000.
Okay, sir. Okay.
And go to Machinery number 3.
Press Alt F2 and select the entire period.
You will also get the full view there.
4 lakhs of machinery.
20,000 has been deposited on it so far.
And the value remaining is 3.80 lakhs.
The value remains to be 3.80 lakhs.
So friends, friends, friends.
Now I will show you the whole journey.
Now I will show you the complete journey.
I will show you TELI.
Let's go to the pad once.
Let's write a little.
And then do the whole journey.
Come to the pad once.
Take this.
See now.
Where does the accounting cycle start and where does it end?
Sir.
First of all, we do the journal entry of anything.
Very good.
Well done.
Then, sir, after that we have to do leisure posting.
We have to make accounts.
Very good.
After that, sir, the trial balance is made.
Oh, oh, oh.
You have become so smart.
You are giving all the answers correctly.
Very good.
Very, very good.
After that, sir, financial statements are made.
Financial statements
In financial statements, we have trading account, P&L
account, balance sheet, cash flow statement
All this comes in financial statements
When we did it manually, we made general entry, ledger,
trial balance, trading P&L balance sheet
But why am I not making everything manually?
Because it is enough to make general entry manually
Even though we made ledger, we made it extra
Because if you give general entry to telly, telly will give
you ledger, trial balance, financial statements
You give me blood, I will give you freedom
You have heard what Subhash Chandra Bose said
Similarly, what does telly prime say?
You give me general entry, I will give you ledger, trial
balance, trading P&L, balance sheet, cash flow statement
We didn't make machinery account in telly
We didn't make trial balance, P&L, balance sheet
We were making everything manually
What were we doing?
We were just passing general entries
This is our only work
To pass general entry
Even after every general entry, telly prime does all this
for you
After every entry, it updates ledger, trial balance,
financial statements
It doesn't even say that when general entry is completed,
tell me
Then I will make ledger, trial balance, financial
statements and present it to you
It doesn't even say that
After every entry, it keeps updating
So it is a very good software
So now tell me on the basis of your common knowledge
When we make ledger after seeing general entry, which
accounts are made in ledger?
Which accounts are made?
We make debit or credit in our general entries
Everyone's account is made
So if you see your entries for once
See this
So in your entries, first of all machinery account
This will be made
Number 2 bank account
This will be made
Number 3 depreciation account
Number 4 P&L account
And more
Deption machinery, P&L, Deption bank, machinery, all this
is done
And this loss on sale of machinery account will be seen
Loss on sale of machinery account
This will be seen
Loss on sale of machinery account
So let's see
Did telly make all these accounts or not?
I made only one ledger while explaining the concept to you
Machinery account
But telly's first is to make all
So let's see if telly made all or not
Let's check this out
Did telly make all ledgers or not?
Let's check telly
Press SK and come out
D for display
Come out
D for display, A for account book, L for ledger
And you can see
Telly made all ledgers
A for capital, D for depreciation
B for bank, L for machinery
P for P&L
And machinery 1, 2, 3
All three accounts of machinery are there
Now you can open any of them
Suppose we have seen machinery account 1, 2, 3
Once we want to see this account
Loss on sale of machinery
We will get to know that loss of 1,07,000
On selling machinery 1
You will get to know that loss
Open LDFC bank
You will get the whole account book
Select Alt F2 1 January 23 to 31, 12, 24
Initially 20, then 6, then 2, then 4
You will get the whole
Open depreciation
Depreciation Select Alt F2 1 January 23 to 31, 12, 24
And see
Telly shows depreciation
On machinery 1 70,000 On machinery 1, 27,000
And on machinery 2 and 3
How much is there
In this 70, if you will open inside
You will see machinery 2
Now you will be confused
Why telly is showing 70,000 on machinery 1
So do one thing
Press Alt F1
Then telly will show
Total 70, 60 on machinery 1
And 10 depreciation on machinery 2
If you don't do this in detail
It will show machinery 1
It will show the previous credit
Like previous credit
If you will see inside
Machinery number 1 is 60,000
It will show machinery 1
Whenever you do analysis on this sheet
Do Alt F1
This is also a lesson for the future
Till now this problem didn't come anywhere
Today i am teaching you this new thing
Whenever you do analysis on any ledger
Open Alt F1
Because if you have any compound entry
Compound entry means
In which there is more than one debit or credit
Like in this entry, there is two times credit
Once machinery 1 account and once machinery 2
So if you have any compound entry
If you have any compound entry
So what will happen
Telly will show the previous credit
And you will think machinery 1 is showing 70
So always do Alt F1 and see in detail 60 on machinery 1 10
on machinery 2 27 on machinery 1 31, 12, 24 19,000 on
machinery 2 20,000 on machinery 3
Total 39
Till now
Since you bought machinery
Total depreciation
Till now 136,000 136,000 Correct answer
From start to end
No problem with that
Ok Ok Take this
Now non-detail
Come out
Capital ledger
You can watch out everything
Ok So friends
Practical Practical Practical Everything practical
Whatever you thought
Sir is explaining the concept
Not even teleprime
About 4 to 5 hours
We spent on pad
We did not come to telly
When we came to telly
The work was so smooth
Did not feel anything
We have run telly
And you have heard very good things
After revision
I can guarantee you
You would not have realized
That teleprime is running
Did not realize that teleprime is running
Because so much discussion
Conceptually and the whole case
That teleprime
Everything was crystal
Crystal clearly
How is everything going on
How everything is moving
The reason is that here you have done a lot of hard work
There is no other reason
First we made the case
What will happen in the company
Machinery or any fixed asset
What do you have to do instead of machinery
If there is a furniture, then you have to use the furniture
account
If there is a building, then the building account
If there is a land, then the land account
If there is something else, then the motor vehicle account
If there is a camera, then the camera account
Any PPO will come
What will happen, this will happen
What else will happen
Adoption will continue
From the first day of the year
Adoption will take place
After that
Entry of loss or profit
Entry of money
Adoption will continue
What will happen
You have done everything
Tell me one thing
You have done a simple case
Provision for adoption
You did not even show up in the tele
Your whole discussion is over
There is only one point left to cover up
Everything else is over
That's why I gave it the name case 1
I did not say that this is the only case
This is the case and there is no other case
Now we will talk about provision for adoption
In the coming classes
We will talk about asset disposal
And we will see
We will pick this case
What will we do in this case
We will do entries again
If provision for adoption
If there is provision for adoption, then how will the
entries be in this case
A very good comparison
Will move in your mind
A very good comparison
Will run in your mind
You will keep seeing
If you do not make provision
If you make provision
You will understand better
Rather give another example
Provision in this
And then we will do an example
When there will be provision in this
And there will be asset disposal
You will understand everything
Okay If you do not sleep well, then your tongue trembles a
lot
This has also been proven today
I want to say something 2-3 times
Something else is in my mind
Both words are getting mixed
Thank you
Bye Bye Just say bye bye everyone.