25 October 2014
I am taking a Tuition of 2nd to HSC & Degree student Total Student 65 so that i have create one company in Tally software to put all tuition income & expenses record so by i know how much profit & loss is their in business my Question is that i should open ledger A/c for all student or i should make one entry of Fees Received for every month & Suppose i will open ledger A/c for student then under which group it should be go.
25 October 2014
Its upto you the way you want to maintain tally.. If you are opening separate account of each student; make them debtor, it will be more controlled. If you want to pass combined monthly entry you have to keep record of receipt from each student in other form
25 October 2014
Thank You ya it will be easy way to maintain Tally.. and it will be not confusing for me suppose i have purchase a Board then it will asset for me under furniture Account
What should be the Capital for this Business Bcoz Balance sheet is not Tally What should will come in Liability Side
26 October 2014
See if you bought cash then that will be your capital and equal amount will be in asset side Now Suppose you have purchase a board and you have bought nothing in cash cash or other thing then in that case your capital will be nil and your creditor will be equal to cost of that board.
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