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.
F5 to select Payment Voucher.
Done.
Okay.
Tell me what is Debit?
What is the reason for payment?
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 goods in the type of supply.
Save it by pressing CTRL A.
Take goods in the type of supply.
Save it by pressing CTRL A.
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 are we not writing 6 lakhs?
You have to tell separately.
You have to give 6 lakhs breakup.
5,82 is for Machinery.
And 18,000 is for Erection.
You have to write 6 lakhs for Machinery.
Because Erection's expense will go to Machinery.
You can't write separately.
If you divide bank into two,
You will know that 5,82 is for Machinery.
And 18,000 is for Erection.
Okay, sir.
Narration will help you more.
Narration is very useful here.
Bank.
Machinery purchased.
And 5,82,000 paid for Machinery.
And 18,000 for Erection of Machinery.
See this.
Today you can understand narration better.
You can see why narration is so useful.
You will be better defined from here.
Okay, sir.
Okay, 6 lakhs for Machinery.
Payment in two pieces.
You should have the same.
And see, today we have used 1st January date.
See what date is coming above me.
1st January
This date is coming.
1st January
Licensed mode is activated.
What was told in educational mode? 1st April, 2nd April and
31st March
These are the three dates.
Here you can see 1st January.
Licensed mode is activated.
Okay, sir.
Press A with CTRL and save it.
And go to your balance sheet.
See if Machinery is visible or not.
Sir, Machinery no. 1 is 6 lakhs.
Bank balance is reduced from 10 lakhs to 4 lakhs.
Because you have paid 6 lakhs.
5,82,000 for Machinery.
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 next target is this entry.
We have to do 1st July, 2023 entry.
The day we bought the second machine.
Machine no. 2.
In how much? 2 lakhs.
Sir, do we have a break-up of 2 lakhs?
Like how much for machine and how much for erection?
No, sir. There is no erection in this.
Machinery came and started working.
Consider this as a laptop.
You bought it.
You kept it with you and started running.
There are no charges for erection.
You can assume this.
Okay, sir.
No problem with that.
I said okay.
Let's enter this too.
1st July, 2023.
Let's see.
Which voucher will this entry be in?
All the smart kids, tell me.
Which voucher will this entry be in?
Sir, this is also not different from the above.
Look at 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
Depreciation charged on machinery 1 for full year.
It was charged to machinery 1 for entire year.
On machinery 2 for 6 months.
It was charged to machinery 2 for 6 months.
July, September, October, December.
What is the rate of depreciation? 10%
WDV basis
Is it necessary to mention these things in narration?
Ok sir, ok
Press ctrl A in journal voucher
Now go to your pad
Look at this
Next entry is
P&L account debit to depreciation 70,000
I am saying
Tally entry will give you
In profit and loss
Transfer anything
Make a balance sheet
All this work is done by Tally Prime
So you will get this automatically
First write journal voucher on this entry
Write journal voucher on the top
We have not written that this entry will be in journal
voucher
And this P&L to Deption
This entry will automatically tally
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
It is not possible that Tally makes a mistake
It is not possible
Let's check for now
Press P for P&L
Come to Gateway of Tally
View F1 detailed with Alt
So you can see here
Depreciation is showing 70,000
You can see
Depreciation is showing 70,000
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
Debt to Depreciation account
He transferred it himself
Come back to the pad
What is our next work
Sir Our next step is something like this
That we have to close the account
Now this account
Tally does the work of closing the account
This work is also done by Tally
Should I show you
You come to your ledger
The account you have made manually
Come to this
See this
The account you have made manually
Here is the first year
I highlight this here
Here 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
So your machinery 1 has 540
And machinery 2 has 1,90,000
How did machinery 1 get 540?
Bought in 6,00,000
And 60,000 deption is left for 540
Machinery 2 bought in 2,00,000
And 10,000 deption is left for 1,90,000 540 and 1,90,000
Total of machinery 7,30,000 This work is done by Tally
himself 540, 1,90,000 and 7,30,000
He will show himself
Should I tell you how he will show
Come on
Come on friends
Come on
Understand the glory of Tally
Press escape
Come to the gateway of Tally
Press escape
Come to the gateway of Tally
Come sir
Friends D for display
A for account books
L for ledger
D, A, L
Display, account books, ledger
Okay Open the account of machinery 1 in this
And see how much is the closing balance below
How much is the closing balance below
Here is 540,000
I have also told you how 540 came
Bought in 6,00,000
And depreciation of 60,000
Closing balance is left 540
Very good sir
Very good
Press escape like this
And machinery number 2
The account is made by Tally himself
Although you don't tell me
Sir, 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
The whole thing is about values and figures
You pay attention to value and figure
Whether that thing is absolutely 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 this happens
Look at machinery number 2
How much is left in this 1,90,000 And Tally is telling you
how 1,90,000 came
Says debit from 2,00,000
When you bought machinery number 2 account
Machinery number 2
And then while depositing 10,000
He credited it
So 2-10 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 debit from 2,00,000
Yes sir
Means debit from 2,00,000
While buying machinery number 2
And then credited from 10,000
See this credit side is written 10,000 By depreciation
And 1,90,000 left 1,90,000 left
Okay sir
We read it out like this
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 step
Tally himself finishes and gives
We don't even need to take care
This is what we used to forget
I swore
At that time I 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
Now write here that it will be entry in payment voucher
Now write here it will be entry in payment voucher write it
nicely
Take this companion
Press ESC and come to Gateway of Tally don't start asking
like this.
Press v for voucher and select payment voucher from F5 and
date is 1 July 2024 so select the date press F2 ohho ohho
ohho ohho ohho ohho ohho 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
means we are selecting the year 2023 to enter 2024 we have
to select the period this error happens a lot with students
you will see this error a lot so
on this carefully press SK and come out press SK and come
out on gateway of Delhi press F2 with ALT press F2 with ALT
select 1 January 2023 31st 12th 2024 1 January 2023 31st
12th year 2023 & 24 ok why we have done this because we
have to do 2 years write 25, 26, 27 now press enter now
press enter go to v for voucher select F2 for F5 payment
press enter now we have to create machine machine 3 machine
3 under fixed asset goods goods control machine 3 4 lakhs
4, 1, 2, 3, 4, 5 credit HDFC bank
HDFC bank has less money negative balance what will you do
increase it write BINK machinery number 3
PURCHSED PAYME NTMADE payment made by check for balance
BINK BANK PAYME PURCHSED BINK PAYME BANK PURCHSED PAYME
NTMADE PAYME INR PURCHSED Okay, let's fix this.
How will we do it, sir?
Escape and come out.
And...
D for display, D for daybook, press it.
D for display, D for daybook.
Sir, I can see only one entry here. It's a period problem.
Alt F2.
1st January, 2023.
And here, 31st, 12th, 24th.
All entries will come till now.
Take the same period which you selected outside.
1st January, 2023 to 31st, 12th, 24th.
Now, the first capital entry which we have made, the one
worth 10 lakhs.
Here it is.
Enter it and add 20 lakhs to it.
20, 1, 2, 3, 4, 5.
Okay, sir. And press CTRL A and save.
So, our bank balance will be positive.
Add 20 lakhs to it.
Okay.
Sir, we have made one more mistake.
I said, which one?
Can any kid tell?
We have made a mistake.
We have to correct it with bank balance.
So, there is one more error.
When we entered the depreciation, it was 70,000.
So, we didn't pay attention to the date.
We took 1st January.
Press F2 and take 31st, 12th, 2023.
And press A with CTRL.
Now, everything is fine.
Now, everything is final.
Fine. Okay, sir.
We have entered 4 lakhs.
Let's move ahead in the payment voucher.
What is happening? We are doing a sale on 1st July, 24th.
It is time to sell the 1st machinery.
We have sold the 1st machinery today, on 1st July, 24th.
So, tell me, what will happen?
Sir, we have to pass the same 3 entries which we pass on
1st July, 24th.
First, we have to pass the entry of depreciation.
Then, we have to transfer it to P&L.
Depreciation will be applied on 1st of the year, from 1st
January, 24th to date of sale, 1st July, 24th.
Then, we have to transfer it to P&L.
And then, this entry, bank account, debit to machinery.
Sir, we have to pass these 3 entries on Teleprime.
No problem. Come on.
On 1st July, 24th, we will apply the entry of depreciation.
27000 on machinery 1.
Come on.
Escape. Escape.
Which voucher will it be in?
Sir, it will be in journal voucher.
Which voucher will it be in? In journal voucher.
So, write here in your notes, that this entry will be in
journal voucher first.
And, shall I tell you one thing?
We will have to show in Teleprime that how this 27000 is
coming.
Don't write directly.
You will have to show this calculation by writing.
We will show this calculation in narration.
The calculation written below is 6,00,000 minus 60,000 into
10% into 6 divided by 12.
We will have to show this calculation in Teleprime.
Fine, sir.
At least, we will know how this 27000 came.
Yes, sir. Okay. No problem.
Come on.
Now, let's do its entry in Teleprime.
Here it is.
Come on.
Select journal voucher.
V for voucher, F7 journal voucher.
Fine. What will be the debit?
We have already created it.
Sir, make depreciation account also separately.
For machinery 1, 2, 3.
No, no. Deption account is same.
Keep putting all machinery in it.
Make machinery 1, 2, 3 separately.
It will work.
If you want to see how much depreciation is on machinery 1,
press D, A, L and go to machinery 1 account.
You will see depreciation of machinery 1.
If you want to see 2, press D, A, L and go to 2.
So, there is no need to make depreciation separately.
Okay, sir.
In depreciation account, depreciation will be Rs.
And which machinery is it on?
It is on machinery 1.
So, you will write machinery number 1 in credit.
Depreciation account debit will be Rs. 27000.
And credit will be machinery number 1, Rs. 27000.
Okay, sir.
Write the narration.
The narration will be very long this time.
Deption charged on machinery 1 sold on 1st July, 2024.
Write the narration along with me.
Being depreciation charged on machinery 1 sold on 1st July,
2024 from 1st January, 2024 to 1st July, 2024.
What is the meaning of this line, sir?
Machinery number 1 sold on 1st July, 2024 depreciation will
be from 1st January, 2024 to 1st July, 2024.
Being depreciation charged on machinery number 1 sold on
1st July, 2024 from 1st January, 2024 to 1st July, 2024.
And how do we calculate it? 6, 1, 2, 3, 4, 5,
Rs. 6,00,000 minus Rs. 60,000.
Write the whole thing.
Rs. 6,00,000 minus Rs.
For multiplying, press star.
Press 8 with shift.
1, 0, 10.
Press 7 with shift.
Press 5 with shift.
You'll get the percent button.
Rs. 6,00,000 minus Rs. 60,000.
Multiply by 10%. Press star again.
6 divided by 12.
Write the way it was written there.
Rs. 6,00,000 minus Rs. 60,000.
Rs. 5,00,000 minus Rs. 40,000.
10% is Rs. 54,000. 6 divided by 12 is Rs. 27,000.
It's important to write this.
It's important to show this.
Write the whole narration.
Being depreciation charged on
Machinery 1 sold on 1st July, 2024 from 1st January, 2024
to 1st July, 2024 is equal to Rs.
6,00,000 minus Rs.
10% is Rs. 6 divided by 12.
Okay.
Don't save it after pressing enter.
Press F2 and take the date.
1st July, 2024.
We'll change the date in the beginning.
Take date 1st July, 2024.
Okay, sir.
Now, save it by pressing ctrl A.
Press escape and come out.
Now, we have to focus on the next entry.
The effect of this entry will be that the balance of my
depreciation account will increase and the balance of
Machinery 1 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 completely
Machinery number 1 sold for 3,86,000
And payment received by cheque
Save it with control
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 will
disappear
Machinery number 1 has gone
Let me show you
Press Alt F1
Bank balance has increased 11,86,000 How much did we put in
the beginning? 20,00,000 20,00,000 6,00,000 2,00,000
8,00,000 3,86,000 8,00,000 11,86,000 You will get the full
view 20,00,000 Select the full period 1, January 23rd 31,
12, 24 20,00,000 6,00,000 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
Press Alt F2
Select the full period
After selecting the full period
How is it showing the closing balance of 1,27,000?
What is the balance of 1,27,000?
Machinery is gone
Why is it showing 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 in your machinery account
You have to pass this entry
In journal voucher
You have to pass this entry
In journal voucher
We understand you
Very good
I will explain this to you in teleprime
Think from the angle of teleprime
First of all, teleprime has shown 6,00,000
Machinery number 1
Then teleprime has credited minus 60,000 Yes sir 27,000
Less than 27,000 5,13,000 6,00,000-60,000-27,000 5,13,000
How much did you receive in the last?
Only 3,86,000
Minus 3,86,000
The debit balance shown below
It is a loss
Calculate the loss
You don't have to calculate 6,00,000-60,000-27,000 5,13,000
You sold only 3,86,000
You have a loss of 1,27,000
Write off this loss
Credit the machinery
From 1,27,000
This is what tele wants to tell you
Okay sir
Let's go
Let's fulfill this need of tele
Press A with Alt
No need to enter
Press Alt A
Select the voucher type
F7 Select the date
F2 Debit will be Profit & Loss
This is coming below
Cash & Profit & Loss
Two accounts
Profit & Loss 127 Credit Machinery 1
Do it fast
Debit Profit & Loss
Credit Machinery 1 127
Enter Being Loss on sale of
Machinery No.
Recorded Being loss on sale of
Machinery No.
Recorded Press A
What should be the effect of this entry Debit on P&L
Machinery account balance should be 0
Machinery No.
1 is opening
We entered from here
Closing balance is 0
Read again
You bought in 6,00,000
Deption of 60
Deption of 5,13,000
Loss on sale of
Machinery account balance is 0
No entry
Machinery account balance is clear
Enter everything
Escape Press P for P&L
Press F1 with Alt
Press F2 with Alt 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
wait a second
friends, we will se it
Telly didn't take it directly from P&L He didn't show it in
P&L
So what did I do? You guys come back
Come back
D for Display, D for Debug
Press D for Display, D for Debug And the entry we did
Come in that 1,27,000
Come in the entry of 1,27,000
And you guys have debited here
Profit and Loss Account
Press C with Alt
And create a new account
Under Indirect Expenses Create a Loss on Sale of Machinery
Account
Under Indirect Expenses Do it once
Create a Loss on Sale of Machinery Account
Under Indirect Expenses
Okay Sir
Then save it by pressing Ctrl A
And come out
Press P for P&L, Alt F1
You can see the debit side in P&L 1,27,000 He didn't pick
it from Direct Profit and Loss
Let's see why he didn't
You do so much for the credit
Okay, come out
Okay, next
Come back to your pad
You passed this entry in Journal Voucher
And here you used
Loss on Sale of Machinery Account
Created under the heading of Indirect Expenses
You can write P&L in your notes
No problem, we have changed it in Tally
Okay Sir 31,12,24 When does the next date come? 31,12,2024
What are we doing on this day?
We are depositing on the remaining Machinery No.
2 and 3
So which Voucher will this entry be in?
This entry will be in
Journal Voucher
Entry of Depreciation
Yata, Thata, Sarvata
Will be passed in Journal Voucher
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 Journal Voucher
Select Voucher
Select Date
Date 31,12,2024
Enter Depreciation Depreciation Depreciation Depreciation
Depreciation Depreciation Depreciation Depreciation
Depreciation Depreciation Depreciation Enter and write
being depreciation charged on machinery to at the rate 10%
on 1,90,000 1,90,000 and on machinery number 3 at the rate
10% on 4,00,000 for 6 months.
Being depreciation charged on machinery number 2 at the
rate 10% on 1,90,000 and on machinery number 3 at the rate
10% on 4,00,000 for 6 months.
Write as much as you can in narration and depreciation.
Okay sir, no issues.
Okay sir, no issues at all, no problem at all.
Save it with control A.
Okay sir.
Now what will be the effect of this?
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 1,36 in total.
Go inside and see.
In the beginning, I put 70, 60 and 10.
I put 27, then the first machinery the day I sold it and
put 39.
Now on machinery number 2 and 3.
Total has become 136.
Yes sir.
Press SK and come out.
Press B for balance sheet.
Press F1 with ALT.
Machinery number 2, which was 1,90,000, is now 171.
If you do 1,90,000 minus 19,000, then it comes here.
And machinery number 3, which I bought in 4,00,000, you put
a depreciation of 20,000 on it.
So how much is this? 3,80,000.
Machinery 2 is 3,80,000.
Okay sir.
Come, how much is the total? 5,51,000.
Will you come to the pad once?
Come to the pad once and see.
This entry has been automatically passed by Telly.
Yes sir.
Automatically passed.
By Telly Prime.
Automatically passed by Telly Prime.
After that, all 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 5,51,000.
And Telly made us reach up to 5,51,000.
Yes sir.
Telly is also showing this.
The balance of machinery number 2 is shown here in the
balance sheet, 171.
And machinery number 3 is 3,80,000.
Total is also showing 5,51,000.
Absolutely right.
So Telly made us reach here.
Come, let's open the account of machinery number 2 and 3
individually in Telly Prime.
Come, let's open the account of machinery number 2 and 3
individually in Telly Prime.
Come, let's open the account of machinery number 2 and 3
individually in Telly Prime.
Escape.
Dal.
Sir, why are you reminding me the name of such a bad
vegetable?
We can't eat paneer every day.
Sometimes we also eat lentils.
Although I didn't eat it myself, what knowledge should I
give you?
Machinery number 2.
Press enter.
Select the entire period by pressing Alt F2 from start to
end.
From January 1, 2023 to December 31, 2024.
Look at it.
Telly is giving you the entire period.
I bought it for 2 lakhs.
Depreciation was applied once for 10,000.
And 19,000 was applied once.
First 10% was applied on 2 lakhs.
For 6 months, 10,000 was applied.
90 was left.
Then 10% was applied on 90 for the entire year.
So it became 19,000.
So this value is remaining.
171,000.
Okay sir, okay.
And go to machinery number 3.
Select the entire period by pressing Alt F2.
You will get the entire period.
Machinery number 4.
Depreciation was applied once for 20,000.
And the value is remaining 3,80,000.
The value remains to be 3,80,000 rupees.
So friends, friends, friends.
Now I will show you the entire journey.
Now I will show you the complete journey in Telly.
Let's go to the pad once.
Let's write a little.
And then do the entire journey.
Let's come to the pad once.
Here, see.
Where does the accounting cycle start and where does it end?
Sir, we do the journal entry first of all, of anything.
Very good, well done.
Then sir, after that we do the ledger.
Let's do the ledger.
Then after that we have to do ledger posting, we have to
make accounts, very good.
After that, sir, 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.