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i have a query for solve

guest (student) (109 Points)

22 February 2008

I uses tally 7.2 , i want to ask that where i work the company purchses share form broking company and IPO. At the time of maintaing accounts in tally software what tpye of accounts created in which group when if the copmany deals shares through broking house and IPO and what mode of voucher the entry of sale nad puchase of share is passed.

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CA.Mkhandelwal (Practice) (156 Points)
Replied 23 February 2008

You have to enable accounts with inventory options while creating the company for mainaining position of inventory. The ledger of name of the company of which share has been purchased to be opened under Investment group with effect of inventory value. Stock item to be created. The journal voucher to be used to enter the transactions.

Ashish Ranpara (TAX CONSULTANT) (369 Points)
Replied 23 February 2008

You have to alter your company and give purchase and sales to affact inventory than in inventory you have to go to create group hear you have to enter the share brocker name than you have to go for create inventory item hear you have to enter shares name than give group of your created catagory than if direct purchase is done than you have to go for journal vouchaer inventory value is automatacally modified by your transaction. for doing this you have to press F11 key form main menu of your company and very first option you have to give yes then ctrl+end key than give enter key when ipo is purchased than you have to create account of ipo and give group of investment when any shares alloted by company than you have to give journal entry and purchase shares by credting ipo a/c. and refund will directly credited to ipo a/c. by passing this entry your ipo a/c. will closed and shares alloted by company will apear in inventory item if you have any problem on this matter than send me email at aranpara_ca @ yahoo.co.in or call me at 9925800951

(Guest)

IS DMAT A/C IS OPEND OR NOT IN THE BOOK OF COMPANY IF WE PURCHASED SHARE THROUGH A BROKING COMPANY OR AN IPO ?

(Guest)

hello, myself Rishi Sharma. I appeared for an interview and a question was asked from me how an auditor review, monitor and Implement ï‚§Accounting System & procedures. ï‚§Internal control System & procedures. ï‚§Inventory Management System & procedures. Pls reply soon.