A chartered accountancy firm named M/s ABC Associates has recently switched to Tally ERP 9 for their billing and accounting needs. The firm approaches the document author for help in facilitating client billing in Tally ERP 9. The author identifies some potential issues the firm may face, such as allocating receipts to bills and dividing profits between partners. The document then provides examples of how cost centers in Tally ERP 9 can help address these issues by allowing the allocation of revenues and expenses to different parts of the organization. It also discusses features of cost centers like creating, altering and using multiple cost centers. Finally, it gives examples of how the author's own firm JP Associates uses cost centers.
Physical Stock Voucher is used for recording the actual stock which is verified or counted. It could happen that the Book Stocks and the Physical Stock do not match. It is not unusual that the company finds a discrepancy between actual stock and computer stock figure.
Creating Sales and Purchase vouchers in Tally is extremely easy and simple. They are often referred to as purchase entry in Tally and sales entry in Tally. Learn how to do it in this video by Attitude Academy Yamuna vihar, Delhi.
Payroll is the process of maintaining records of all employees’ salaries.
1) The Payroll function in Tally.ERP 9 facilitates accurate and timely
employee payments.
2) The Attendance/Production Type is used to record attendance and production
data.
3) Salary components constituting Pay Structures are called Pay Heads.
4) Gratuity is a monetary benefit paid by an employer to an employee, at
the end of the employment, for the services rendered over the period of
employment.
5) Attendance voucher is a voucher type used to record attendance, overtime,
leave or production details.
6)Payroll voucher is used to record employees’ payroll related transactions.
7)Payslip is a document, issued to an employee, that itemises each component
of his/her earnings and deductions.
8)Pay Sheet is a matrix report with details of pay heads pertaining to
employees.
9) Payroll Statement helps to generate reports for specific pay heads.
10) Attendance Sheet displays information relating to employees’ attendance
or production data.
11) Gratuity Summary Report calculates the liability of a company in terms
of gratuity.
Physical Stock Voucher is used for recording the actual stock which is verified or counted. It could happen that the Book Stocks and the Physical Stock do not match. It is not unusual that the company finds a discrepancy between actual stock and computer stock figure.
Creating Sales and Purchase vouchers in Tally is extremely easy and simple. They are often referred to as purchase entry in Tally and sales entry in Tally. Learn how to do it in this video by Attitude Academy Yamuna vihar, Delhi.
Payroll is the process of maintaining records of all employees’ salaries.
1) The Payroll function in Tally.ERP 9 facilitates accurate and timely
employee payments.
2) The Attendance/Production Type is used to record attendance and production
data.
3) Salary components constituting Pay Structures are called Pay Heads.
4) Gratuity is a monetary benefit paid by an employer to an employee, at
the end of the employment, for the services rendered over the period of
employment.
5) Attendance voucher is a voucher type used to record attendance, overtime,
leave or production details.
6)Payroll voucher is used to record employees’ payroll related transactions.
7)Payslip is a document, issued to an employee, that itemises each component
of his/her earnings and deductions.
8)Pay Sheet is a matrix report with details of pay heads pertaining to
employees.
9) Payroll Statement helps to generate reports for specific pay heads.
10) Attendance Sheet displays information relating to employees’ attendance
or production data.
11) Gratuity Summary Report calculates the liability of a company in terms
of gratuity.
TallyPrime is a complete business management software for small and medium business. TallyPrime helps you manage accounting, inventory, banking, taxation, banking, payroll and much more to get rid of complexities, and in turn, focus on business growth.
Advanced voucher entry tutorial in Tally ERP 9Accounts Arabia
Describe the purpose of the Tally.ERP 9 Accounting Vouchers Create and alter Accounting Vouchers
Use vouchers to enter Accounting transactions
Describe the use of Non-Accounting Vouchers
Describe the purpose of the Tally.ERP 9 Inventory vouchers
Create and alter Inventory Vouchers
Using vouchers to enter Inventory transactions
In accounting terms, a voucher is a document containing the details of a financial transaction. For
example, a purchase invoice, a sales receipt, a petty cash docket, a bank interest statement, and
so on. For every such transaction made, a voucher is used to enter the details into the ledgers to
update the financial position of the company. This feature of Tally.ERP 9 will be used most often.
Creating Altering and Deleting a company in Tally is as simple as creating altering and deleting a voucher but still many people are confused or they do not know how to create alter and delete a company in Tally.
This is the presentation on the project of 'tally.erp9' the way how to understand the idea behind this application. The overall concepts which are spread over Tally.erp9 have disscused in this project. This will also very helpful for currently doing a diploma in Tally.ERP9. i'm sure it will be helpful for you...........
TallyPrime is a complete business management software for small and medium business. TallyPrime helps you manage accounting, inventory, banking, taxation, banking, payroll and much more to get rid of complexities, and in turn, focus on business growth.
Advanced voucher entry tutorial in Tally ERP 9Accounts Arabia
Describe the purpose of the Tally.ERP 9 Accounting Vouchers Create and alter Accounting Vouchers
Use vouchers to enter Accounting transactions
Describe the use of Non-Accounting Vouchers
Describe the purpose of the Tally.ERP 9 Inventory vouchers
Create and alter Inventory Vouchers
Using vouchers to enter Inventory transactions
In accounting terms, a voucher is a document containing the details of a financial transaction. For
example, a purchase invoice, a sales receipt, a petty cash docket, a bank interest statement, and
so on. For every such transaction made, a voucher is used to enter the details into the ledgers to
update the financial position of the company. This feature of Tally.ERP 9 will be used most often.
Creating Altering and Deleting a company in Tally is as simple as creating altering and deleting a voucher but still many people are confused or they do not know how to create alter and delete a company in Tally.
This is the presentation on the project of 'tally.erp9' the way how to understand the idea behind this application. The overall concepts which are spread over Tally.erp9 have disscused in this project. This will also very helpful for currently doing a diploma in Tally.ERP9. i'm sure it will be helpful for you...........
Step to Create Cost Center in Tally: Each Sales Project is considered as a cost center, so as to create these: Go to Gateway of Tally - Accounts Info - Cost Centers - Select ‘Create’ under Single Cost Centers. Select ‘Sales Project 1’ in ‘Category’. Enter ‘Sales Project 1’ in Name and accept the screen. Similarly, you can create a cost center for other Sales projects.
For further information on how to create or maintain Cost Categories and Cost Centers in Tally ERP 9, please contact our experts on 00966-583117703 or visit our website at http://manalpro.com/tally.
chapter 8Responsibility Concepts and Sound Decision-Maki.docxchristinemaritza
chapter 8
Responsibility Concepts and Sound
Decision-Making Analytics
Learning Objectives
• Understand concepts in responsibility accounting.
• Be able to provide a framework for rational business decision making, and understand
how to apply these concepts for specific types of situations.
• Apply capital budgeting methods and discounted cash flow concepts.
• Know how to make proper long-term investment decisions.
istockphoto
waL80281_08_c08_189-212.indd 1 9/25/12 1:03 PM
CHAPTER 8Section 8.1 Responsibility Accounting Concepts
Chapter Outline
8.1 Responsibility Accounting Concepts
Accumulation of Information to Match Centers
Management by Exception
Rational Decision Making
Sunk Costs
8.2 A General Framework for Making Sound Business Decisions
Applying the General Framework to an Example: Bulk Orders
Applying the General Framework to an Example: Offshoring
8.3 Capital Expenditures
Future Value
Annuity
Present Value
8.4 Making Decisions About Long-Term Investments
Net Present Value
Internal Rate of Return
Simpler Capital Budgeting Methods
Recap of Using Capital Budgeting Tools for Decision Making
8.1 Responsibility Accounting Concepts
In general, managers should be held accountable for the results of their decisions and business execution. Without accountability based on performance-related feedback, the
business will not perform at its best, and areas in need of improvement may not be iden-
tified on a timely basis. Business feedback is often based on financial results. You have
already seen how budgets and variances are used to help identify areas for improvement.
Because managers are accountable for their decisions, actions, and outcomes, their perfor-
mance measures should align around the department, product, division, or other business
for which they are responsible. In other words, the attribution of responsibility tends to
follow the organizational structure of the business.
Sometimes, a business has a highly dispersed design, with decisions nested with lower
level managers. Other businesses generate decisions only at the upper levels, and
lower level personnel are basically charged with execution of defined actions. Proper
implementation of responsibility accounting concepts stipulates that performance mea-
sures be aligned with the business organization structure. In other words, accountability
should map to responsibility. Proper design of performance measurement systems there-
fore requires that the management accountant carefully consider the organizational struc-
ture. Sometimes performance measures are only appropriate on an aggregated basis, such
as where the organization is structured as a top–down, command-and-control, central-
ized decision-making entity. As lower level managers are given increased authority, so
too should the accountability system be modified to provide more disaggregated perfor-
mance measures. Although quite logical, this presents measurement challenges.
waL80281_ ...
SAP ERP S4HANAFinanceMOTIVATIONThis material is an.docxtodd331
SAP ERP: S/4HANA
Finance
MOTIVATION
This material is an introduction to SAP S/4HANA financial functionality. It is aimed at students at universities and other educational institutions with limited experience with accounting
It can be used in the classroom or for self-study.
On completion of the course, students will be able to understand the basic concepts general ledger accounting.
The material also serves as a reference for occasional users of SAP systems.
LEARNING METHOD
The learning method used is “guided learning.” The benefit of this method is that knowledge is imparted quickly. Students also acquire practical skills and competencies. As with an exercise, this method explains a process or procedure in detail using the GBI case study
Exercises at the end enable students to put their knowledge into practice.Product
SAP S/4HANA
Level
Introductory
Focus
ERP Systems- Finance
Author
Dr. Paul Hawking
Dr. Susan Foster
Reviewed by
Urooj R. Khan
Version 1.2019
Table of Contents
Introduction3
Accounting3
Financial Accounting3
Process Overview4
General Ledger Master Records5
Task 1: Display the Chart of Accounts6
Task 2: The Chart of Accounts Applied to the General Ledger9
Task 3: Display General Ledger Account11
Task 4: Post Transfer of Funds to Alternate Bank Account13
Task 5: Display G/L Account Balance17
(a) Adding a Fiori Tile:17
(b) Displaying Account Balances:18
(c) Displaying Accounting Documents21
Task 6: Displaying Journal Entries22
Task 7: Post Purchase of Office Supplies24
Task 8: Display General Ledger Account Balances27
IntroductionScenario
Global Bikes Inc (GBI) was founded in 2001 following the merger of two bicycle manufacturers, one based in the US and the other in Germany. GBI has three lines of business: deluxe and professional touring bikes, men’s and women’s off-road bikes, and bike accessories. GBI sells its bikes to a network of specialized dealers throughout the world, and it procures its raw materials from a variety of suppliers globally.
GBI has two manufacturing facilities, one in the US and one in Germany. It also has three additional warehouses, two in the US and one in Germany. GBI has more than 100 employees globally. The organization uses SAP ERP to support its processes. The company has a new bicycle for sale- Mongoose Mountain Bike.
Accounting
The function of accounting is to provide financial documentation and information for an enterprise and other interested parties that are associated with it. There are basically two types of accounting:
· External accounting is oriented more towards satisfying the information requirements of external parties. This is referred to as Financial Accounting (FI).
· Internal accounting meets the reporting demands of internal enterprise groups. This is referred to as Cost Accounting (CO).
External Reporting
External Accounting
Internal Accounting
Product Cost s
Internal Reporting
Cost Centres
Profit Centres
Profit Margins
Retained Earnings
Liquidity Calc’n
Prof.
Welcome to TechSoup New Member Orientation and Q&A (May 2024).pdfTechSoup
In this webinar you will learn how your organization can access TechSoup's wide variety of product discount and donation programs. From hardware to software, we'll give you a tour of the tools available to help your nonprofit with productivity, collaboration, financial management, donor tracking, security, and more.
Students, digital devices and success - Andreas Schleicher - 27 May 2024..pptxEduSkills OECD
Andreas Schleicher presents at the OECD webinar ‘Digital devices in schools: detrimental distraction or secret to success?’ on 27 May 2024. The presentation was based on findings from PISA 2022 results and the webinar helped launch the PISA in Focus ‘Managing screen time: How to protect and equip students against distraction’ https://www.oecd-ilibrary.org/education/managing-screen-time_7c225af4-en and the OECD Education Policy Perspective ‘Students, digital devices and success’ can be found here - https://oe.cd/il/5yV
2024.06.01 Introducing a competency framework for languag learning materials ...Sandy Millin
http://sandymillin.wordpress.com/iateflwebinar2024
Published classroom materials form the basis of syllabuses, drive teacher professional development, and have a potentially huge influence on learners, teachers and education systems. All teachers also create their own materials, whether a few sentences on a blackboard, a highly-structured fully-realised online course, or anything in between. Despite this, the knowledge and skills needed to create effective language learning materials are rarely part of teacher training, and are mostly learnt by trial and error.
Knowledge and skills frameworks, generally called competency frameworks, for ELT teachers, trainers and managers have existed for a few years now. However, until I created one for my MA dissertation, there wasn’t one drawing together what we need to know and do to be able to effectively produce language learning materials.
This webinar will introduce you to my framework, highlighting the key competencies I identified from my research. It will also show how anybody involved in language teaching (any language, not just English!), teacher training, managing schools or developing language learning materials can benefit from using the framework.
How to Split Bills in the Odoo 17 POS ModuleCeline George
Bills have a main role in point of sale procedure. It will help to track sales, handling payments and giving receipts to customers. Bill splitting also has an important role in POS. For example, If some friends come together for dinner and if they want to divide the bill then it is possible by POS bill splitting. This slide will show how to split bills in odoo 17 POS.
Ethnobotany and Ethnopharmacology:
Ethnobotany in herbal drug evaluation,
Impact of Ethnobotany in traditional medicine,
New development in herbals,
Bio-prospecting tools for drug discovery,
Role of Ethnopharmacology in drug evaluation,
Reverse Pharmacology.
Palestine last event orientationfvgnh .pptxRaedMohamed3
An EFL lesson about the current events in Palestine. It is intended to be for intermediate students who wish to increase their listening skills through a short lesson in power point.
Read| The latest issue of The Challenger is here! We are thrilled to announce that our school paper has qualified for the NATIONAL SCHOOLS PRESS CONFERENCE (NSPC) 2024. Thank you for your unwavering support and trust. Dive into the stories that made us stand out!
1. KINDLY HAVE LAPTOP WITH YOU WITH TALLY.ERP 9 INSTALLED
(MAY BE EDUCATIONAL)
By:- Anchit Agrawal
04.01.2014
2. Do it yourself
Case Study 1:1.
A firm named M/s ABC Associates (Chartered Accountants), have recently switched over
to Tally. ERP 9. Firm approaches you to facilitate client’s billing in Tally. Firm is liable to
service tax (@ 12.36%).
2. On review by you, firm can faces some problem in future: While billing, staff may have problem in identifying against which bill, receipt should be
settled.
Is there any way other than using Accounting Vouchers Receipt and then feed all
details for receipts.
Firm may want some way out to allocate its profits on the basis of number of audit done
or say no. of bills raised by its partners.
Firms may ask us to divide profits in specified proportion every time between partners. (
A and B have to be divided into 3:1 ratio.)
Firm may want to know is there any way by which no one except supervisor can alter
cost centre details.
Firm may carried out an extensive growth plan and have divided its partners into
divisions i.e. Tax Audit, Vat Audit, Transfer Pricing and Company Matters. Now firm wants
to distribute expenses to individual partners and also want to know Profit/loss from each
division.
Firm may now say that cost centre have been activated on our system. But, firm wants
profit/loss from respective Cost centre as P&L a/c we get from ledgers.
(I’ll tell later)
3. PRACTICAL SCENARIOS IN WHICH
COST CENTRE ARE USEFUL
Case Study 2:A Concern engaged in crushing business have 6 site (or say units) and
accounting is done at Head office.
In how many ways accounting can be done???
Option 1:- Create separate tally for each unit and then consolidate
the same at year end.
Option 2:- Create separate ledgers for each item in B/S and P&L for
every unit in single tally.
Option 3:- Use cost centre and minimize ledgers creation and directly
allocate the revenue/ expenditure of each unit while passing
accounting entries.
4. PRACTICAL SCENARIOS IN WHICH
COST CENTRE ARE USEFUL
ABC Pvt Ltd
Finance
Sales Man A
•
•
•
Marketing
Sales Man B
Manufacturing
Sales Man C
Consider above Cost Centre structure:
Primary Cost Centres - Finance, Manufacturing, Marketing.
Under Marketing, classify the company's sales executives as Cost Centres. This
will help us to track a sales executive's performance, in terms of cost and
revenue generated.
5. So What is Cost Centre?
A Cost Centre is any unit of an
organisation to which transactions
(generally, revenue) can be
allocated.
When only costs or expenses are
allocated to these units, they are
referred to as Cost Centres.
When profits are also allocated to
these units, they become Profit
Centres.
We can now obtain a Profit and
Loss account of each such Profit
Centre by purchasing an add on.
6. Features we used in Cost Centre
More:
Creating a Single Cost
Centre
Altering a Cost Centre
Creating Multiple Cost
Centres
Altering Cost Centres in
Multiple Mode
7. Examples from our office ‘JP Associates’
1
• JP Associates – Using Cost Centre
to allocate Bills and Receipt to its
partners.
2
• Our Staff- Using Cost Centre to
account for challan receipts and
payments.
BrainStorming
• Any other way to use
Cost Centre??
9. Cost Categories
• The following example illustrates the use of
Cost Categories.
Restructuring aforesaid example, a new Cost
Category Projects under which Cost Centres
such as Airport construction, Road
construction and Buildings have been created.
Cost
Categories
Departments
Marketing
Cost
Centres
Executives
Projects
Airport
Salesman A
Construction
Manufacturing Salesman B
Road
Construction
Finance
Buildings
Salesman C
10. COST CATEGORIES
Specify a Cost Category to allow allocation of only revenue
items or items of both revenue and capital (Non-Revenue)
nature. Here in this instance, enable Revenue Items and NonRevenue Items to Yes for Departments and Projects
Categories and only Allow Revenue Items for Executives.
By allocating expenses to parallel Cost Centres under
different categories, we are simply assigning the amounts to
them; the amount does not increase.
Tally.ERP 9 performs an automatic reconciliation on real-time
basis, saving our effort of reconciling Ledgers and Cost
Centres.
11. COST CATEGORIES
Cost Categories are useful for organisations that require
allocation of Revenue and Non-Revenue Items to parallel sets
of Cost Centres.
Cost categories facilitate third dimensional reporting of
Expenditure and revenue.
Some of the examples of Cost Categories can be Region wise
or geography wise, Grade wise, Department wise and so on.
By using Cost Categories we may allocate, in parallel, a
transaction to more than one set of Cost Centres.
12. COST CATEGORIES
•
•
•
•
Creating a Single Cost Category
Altering a Cost Category
Creating Multiple Cost Categories
Altering Cost Categories in
multiple mode
• Creating Cost Centres under Cost
Categories
• Creating Multiple Cost Centres
under Cost Categories
13. Use of Cost Centre
Cost Centre in Tally.ERP 9 allows an additional dimension to a
transaction where a Ledger account indicates the nature of the
transaction. It does not readily disclose, except in the narration
field, which part of the organisation was involved in the
transaction.
With the help of Cost Centres, a transaction can be allocated to it,
which would then enable accumulation of the all transactions for
that particular Cost Centre. Tally.ERP 9 gives us the Cost Centre
break-up of each transaction as well as details of transactions for
each Cost Centre.
14. We can classify Cost Centres, just as how we
classify Group/Ledger accounts. We can
have Primary Cost Centres and several
levels of Cost Centres under each Primary
Cost Centre.
Like allocate expenditure incurred on sales
by the salesmen, as well as the sales
generated by them, directly to their Cost
Centres. The allocation is done at the time
of voucher entry. This prevents allocation
errors at the end of the period.
15. Today’s Overview
What is Cost Centre?
How it is used / can be used?
Working on Cost Centre in Tally
Activating Cost Centre
Using Cost Centre
Reports Generated
What is Cost Categories?
AND
Referencing
16. Thank You
Define your challenges
Technological as well as personal
Set realistic expectation
Mastery is not achieved overnight
Keep your eye on the goal
Editor's Notes
Don’t think it’s cost centre class so i will talk only of it and won’t ask u anything else.Now use referencing.Demonstrate bill settlement. Display---statement of a/c-outstanding-Now use cost centre Next Table < practical scenarios wali hi >
Pre-defined cost centre allocation during entry
Till now I have told you cost centre uses. So now u all tell where we can’t use cost centre (in what conditions)Next: Definition what is cost centre
Feature we used in cost centre
Next examples of JP associates and Challan.
Cost category
a new Cost Category Projects under which Cost Centres such as Airport construction, Road construction and Buildings have been created.