How to do Accounting of Shares in TAlly

Some one pl help me too in this regard

create a co. with 'accounts with inventory' option.Treat shares/stocks as stock items and pass entries.Create ledger accounts of  various expenses viz. brokerage.clearing charges,stt,serv.tax,cess etc

Dear Friends,

Firstly, create a company as "Accounts with Inventory" Option.

Create following ledger accounts in tally

1. Purchase of Shares A/c'

2. Sale of Shares A/c

(Open the above accounts under Purchase and Sale respy)

3. Speculation Purchase A/c

4. Speculation Sales A/c

(Open the above accounts as Direct Exps. or Income head. The head here will not make any difference as at the end of the year we will be netting off the two speculation account)

For Inventory of Shares follow following steps.

1. Open two groups:

i. Speculative Transactions Stock

ii. Delivery Based Transaction Stock

Mention each shares under two inventory groups by adding the same as stock item. CAUTION: Here make sure that you open two seperate accounts for the same stock if you are dealing in both Delivery Transactions and Speculative Transaction. E.g. Share of TISCO is defined in tally as TISCO - D and TISCO - S where D and S suggest that the entry in the inventory is for Delivery (D) and for Speculative (S) Transaction.

After above steps start entering entry BILL WISE only in JOURNAL mode. 

At the end of the year close any one speculation account by transfering the balance to other speculation account. Balance either speculation profit or loss can be used for seperate reporting for Income Tax Purpose.

Hope this points will help you in accounting share transactions in Tally.

Regards,

Pradip Shah 

thanks a lot

good.

Thank U very much for your guidence.

Respected sir & friends,

Please tell in in detail of accounting of sharges in Tally & how to seperate long term,short term,speculative transactions in tally and its sub groups please help me reguarding this in my mail address harish_ts1984 @ yahoo.com please hel me i will be thankful to you.

yours Friend,

how to record the share transaction as well as Short term and long term cap.gain or loss on those share  transactions.?

what will be the difference in accounts maintenance when one treats share either as stock or an investment?

It is important here to note that there may be a single bill for Delivery based purchases AND  Sales as well as  Speculative Purchases AND Sales for which Entry through Journal mode as mentioned by CA Pradeep Shah is the best course. 
 

HOW TO PASS ACCOUNTING ENTRIES FOR FUTURE CONTRACTS

i wish to know how

day trading

position trading

derivative trading entries are made in tally.

I am a novice in accounting

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