20 July 2009
Dear Sir, My Name is Meet.I'm working in Private Limited company.So,Sir I wants to know how to maintain F&O Accounting in Tally.I Do each and every transaction entered or only Profit & Loss Transaction.
21 July 2009
Its very easy. You open the f&o a/c in the name of the respective broker thru which the share transactions taking place. Open Purchase of F&O and sale of F&O A/c also. Open brokerage,stamp duty on F&O and other related expenses a/c also. At last charge the balance in Profit /loss on F&O A/c. And then check the amt of P/L with the contract note and ledger related to contract note provided to you.
23 July 2009
Alternatively, 1. For Option Premiums paid you debit Option Premium A/c(Direct Expenses or Direct Income) When Options are sold you credit it. 2. For Futures- A. Open Marked to Market Margin A/c or M2M-xxxxxx A/c for corresponding Futures not settled intra-day. B. Dr/Cr the a/c from Daily Contract notes for M2M till these are settled. C. On the day also, when the respective future is settled, Dr/Cr the M2M A/c. Tfr this balance to Profit on Derrivatives A/c. D. For Intra-Day Directly Dr/Cr the Profit on Derrivatives A/c. E. Other Expensese A/c , as you require, may be opened like stt, stamp duty or put all exp together in Mis. F&O Expenses A/c
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