How to maintain book of accounts for company

Firstly you would have to determine whether the stores are dependent or independent in nature i.e.

Independent means that

• All Collection at stores are kept in seperate bank account to be operated by store and
• All expenses relating to stores are met by the stores from those collection.
• The stores can procure the goods that are sold in stores by themselves.

Dependent means that

• Collection at stores are to be Deposited at HO bank with details of sales made and
• For expenses a petty cash is given to the stores for for meeting expenses and details of expenses with petty cash register is handed over to the HO on timely manner.
• The Store is not allowed to Procure any goods, all goods would be sent there by HO.

If the Stores are dependent then it will have to submit the mothly or weekly information at HO like

Sales made.

Amount received on Sales and Deposited

Expenses Incurred with Petty Cash.

AT HO the acoount has to be maintained as follows:

There could be two methods in which the accounts of the company could be maintained (if using Tally ERP9)

1.) Preparing a seperate company in tally for all stores and one company in tally of HO.

Passing entries in each tally as stores and while preparing the BALANCE SHEET merge all data to make one balance sheet.

2.) Preparing single tally for HO only. but will have to maintained stock details of every company in excel