Websoftex is a .NET based centralized database online software for Nidhi Company Software with core banking operations such Fixed Deposit, Recurring Deposits, Daily Deposit Schemes, Loan to Customers, Monthly Income Schemes, Dividend declarations etc. Websoftex handles the Members details. Websoftex handles all Saving A/c, Current A/c, FD A/c, RD A/c, DDS A/c. Websoftex handles management of Cheque book, Pass book and Bond. Websoftex handles all kind of Loan operations, Printing Loan Ledger, Automatic Interest Calculations.

1. Accounting
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Nidhi Company Software
Mob: 9916807666/ 9886461360

2. Accounting Steps And Some Related Concepts
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3. Some Definitions about Accounting Concepts:--
 Groups which are helpful in classifying and identifying the account heads based on their nature.
 Grouping which helps in presenting the summarized information.
 But at the highest level of grouping, accounts which are classified into Assets, Liabilities, Income
and Expenditure.
GROUPS
ASSETS
 An asset is defined as a resource that is owned or controlled by a company that can be used to
provide a future economic benefit.
 In other words, assets are items that a company uses to generate future revenues or maintain its
operations.
 Assets accounts generally have a debit balance.
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4. Current
Asset
Fixed Asset Tangible
Asset
Intangible
Asset
OperatingAsse
t
Non-
operating
Asset
Cash Land Land Goodwill Cash Goodwill
Bank Balance Road Road Patents Bank Balance Patents
Investments Building Building Brand Inventory
Inventory Furniture Furniture Trademark Stocks
Stock Plant Plant Copyright Prepaid Exp.
Receivables Machinery Machinery Receivables
Prepaid Exp. Equipments Equipment Plant
Cash Machinery
Inventory/Stock
The following table will give you a clear picture of the types of assets:-
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5. INCOME
The flow of cash or cash-equivalents which are received from the work (wage or salary),
capital (interest or profit), or land (rent).
An excess of the revenue over the expenses for an accounting period. Also called as
earnings or gross profit.
An amount by which the total assets will increase for the accounting period.
When customer pays cash to buy a good from the store, then the money increases in the
company's cash on the balance sheet.
For increasing the balance of an asset, we debit that account. Therefore the revenue
must be equal to that increase in cash which should be shown as a credit on the income
statement.
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6. When accounting for these transactions, we record the numbers in two accounts, where an debit
column is on the left and the credit column is on the right.
A debit is an accounting entry which will either increases an asset or expense account, or
decreases a liability or equity account.
An expenditure is related a payment or disbursement .
The expenditure would be for the purchase of an asset, a reduction of the liability, a distribution of
the owners, or it could be an expense.
At the time of expense it is recorded, the amount is entered as an debit to a expense account.
Examples:-Utilities – Utilities which costs include electricity, water, heat, and even telephone
services, etc…
EXPENDITURE
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7. A liability is related to an obligation and it is reported on to a company's balance sheet.
A common example of the liability is accounts payable.
Accounts payable would arise when a company relate to purchases goods or services on
credit from a supplier.
And When the company pays to the supplier, the company's accounts payable is to be
reduced.
An increase to an liability or to a equity account is a credit.
LIABILITY
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8. Websoftex software solutions Pvt Ltd

9. In this Menu, Daily Transactions will be displayed detailed wise with account numbers
and also with narration.
 DAY BOOK
 In this Menu, Daily Transactions will be displayed totally.
 CASH BOOK
 Here the transactions will be displayed daily but only cash transactions will be
reflected.
 And also it shows Opening Balance and Closing Balance.
 Also whatever Closing balance will be the next day’s transaction of Opening Balance.
Subday Book
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10.  BANK BOOK
Here the transactions will be displayed daily but only through Cheque, other Bank
entries transactions will be reflected.
And also it shows Opening Balance and Closing Balance.
Also whatever Closing balance will be the next day’s transaction of Opening
Balance.
 TRIAL BALANCE
 Trial Balance is a list for closing balances of the ledger accounts on a certain
date and is the first step towards in the preparation of financial statements.
 It is usually prepared at the end of the accounting period to an assist in the
drafting of financial statements.
Bank Book
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11. Receipt and Payment account is a summary of the cash receipts and
payments during the accounting period.
It also records all the cash receipts and cash payments including
capital receipts and revenue receipts irrespective of the accounting
period.
Receipt And Payment
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12. PROFIT AND LOSS
"A Profit and Loss account is an account for which all the gains and losses are
collected in order to ascertain the excess of gains over the losses or vice versa".
BALANCE SHEET
 A Balance sheet which lays out at the ending balances in a company's
asset,liability, and equity accounts as on the date stated on the report.
Profit and Loss
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13. GENERAL LEDGER
• A General ledger account is an account or record which is used to sort and to
store the balance sheet and for income statement transactions.
• Examples of general ledger accounts include the asset accounts such as Cash,
Accounts Receivable, Inventory, Investments, etc.
GL DAY BALANCE
• In GL Day Balance report according to Group Name, what is the opening balance
till date, & what is the closing balance related to Debit and Credit details.
• Examples : Group Name such as Savings Account, FD Deposit, RD Deposit, MIS
Deposit, etc..
General Ledger
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14. GL Transaction
It contains information that are required for the preparation of the final accounts. The term
GL which is used in short for General Ledger.
GL Transactions which include GL Receipt, GL Payment, Journal Entry, Contra Entry, Cheque
Reconciliation etc…
GL RECEIPT
GL Receipt for adding the amount or depositing the amount
GL PAYMENT
GL Payment for debiting the amount or withdrawing the amount
GL Transaction
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15. Journal Entry for transfer related entries where need to select debit and credit entries where
you can transfer the amount
CONTRA ENTRY
Contra Entry is related to bank, cash in hand in entries where we need to select debit a/c and
credit a/c entries for transferring the amount.
CHEQUE RECONILE
Cheque Reconcile is related to Bank related entries , then all the details will be displayed.
Where need to reconciliation process for that particular entry.
Journal Entry
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