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How to book journal entries for startup expenses

malarvannan (accounts executive) (133 Points)

01 June 2011

Hi friends

Can anyone guide me how to book entries for startup exp.,in tally like purchase of computer,a/c,furniture,rent advance,salary & telephone.

Its very urgent.....

Best regards

malarvannan.d

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9 Replies

(Guest)

Before startng any entries first creat the leadger in the right head than start the entries like ..........salry is indirect expences so,

salary A/c ........dr.

to cash or bank A/C

Computer A/c .......dr.

to party name or cash or bank.........as computers are fixed assests for the company,,,,,,

CA ADITYA SHARMA (CA IN PRACTICE ) (16719 Points)
Replied 01 June 2011

FOR CAPITAL INTRODUCED ENTRY WILL BE PASSED

CA ADITYA SHARMA (CA IN PRACTICE ) (16719 Points)
Replied 01 June 2011

CASH AC. - - - -- - - - -- - - - - - - - -- - DR.

VARIOUS ASSET AC. -- - - - -- - - - - - - DR.

TO CAPITAL AC.

Rajnikant Vadigoppula (CA, CS And CMA Final) (919 Points)
Replied 01 June 2011

I AGREE FUTURE CA

CS,CA F,Numrologi TusharSampat (CS CA F Numerologist Astrologer Graphologist Face reader Vastu Expert) (85930 Points)
Replied 01 June 2011

Originally posted by : future ca
	CASH AC. - - - -- - - - -- - - - - - - - -- - DR. VARIOUS ASSET AC. -- - - - -- - - - - - - DR. TO CAPITAL AC.

Correct one

Ravindra kumar (student) (87 Points)
Replied 02 June 2011

How to book entries for startup exp. in tally like purchase of computer,a/c,furniture,rent advance,salary & telephone ?

ANS: firstly create ledger

1. computer, a/c, furniture ------ under group ( fixed assets)

computer a/c Dr.

Airconditioner a/c Dr.

Furniture a/c Dr.

To Bank or cash a/c

( Being ----------------------------purchased)

2. Party's name ----------- under group ( loan & advance) current assets

partys a/c Dr.

To Bank or cash a/c

( Being rent paid in advance for the month.......)

3. Salayr a/c Dr.

Telephone exp. Dr.

To Bank or cash a/c

( Bing salary, telephone exp. paid vide cheque....... or cash)

Upender Anand (C.A final) (58 Points)
Replied 02 June 2011

1st open following account, capital account, computer and furniture account under head fixed assets, open advance rent account under head prepaid expensess, open salary and telephone expenses under head indirect expensess, the passs the entry

computer a/c .. dr

furnitiure a/c ..dr

To Capital account

advance rent a/c....dr

salary and telephone bill a/c ..dr

to cash

Bipin (accountant) (21 Points)
Replied 02 June 2011

1.computer, a/c, furniture ------ under group ( fixed assets)

computer a/c Dr.

Airconditioner a/c Dr.

Furniture a/c Dr.

To Bank or cash a/c

2. Party's name ----------- under group ( loan & advance) current assets

partys a/c Dr.

To Bank or cash a/c

3. Salayr a/c Dr.

Telephone exp. Dr.

To Bank or cash a/c

Themis Consult (Service) (21 Points)
Replied 20 June 2012

Sure Mr. Malarvannan, we will be happy to help you. Please do share your email id with us and we will be glad to connect. You can see our credentials on www.themisconsult.com