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+ + CASH BASIS ACCOUNTING SYSTEM for Tally.ERP 9 + Introduced By.

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Presentation on theme: "+ + CASH BASIS ACCOUNTING SYSTEM for Tally.ERP 9 + Introduced By."— Presentation transcript:

1 + + CASH BASIS ACCOUNTING SYSTEM for Tally.ERP 9 + Introduced By

2 Welcome to Apex Family and The World of Tally Together lets explore the beneficial ways of using Tally.ERP 9

3 + Cash Basis Accounting in Tally.ERP 9 + Heres Our Idea Benefits of using Apex solution and Tally.ERP9 Present Business Scenario Challenges How Apex Solution Handles These Challenges

4 Business Scenario +BusinessScenario + Important professionals like you use Cash Basis Accounting You also use Tally.ERP 9 for business You need a system to maintain Cash Basis Accounting in Tally.ERP 9 You want the system to follow all statutory and practical needs

5 Main Business Challenges in Tally.ERP Creating Invoices with Service Descriptions Keeping these invoices unaccounted (To avoid unnecessary Service Tax or Income Tax Liability) Outstanding Management (Without booking the invoices in accounts) Convert the received amount against the invoice into Principle + Service Tax and then book the Income

6 Alternate Solutions + & Their Drawbacks + Maintain Two Books of Accounts in Tally.ERP 9 Use external source like Excel Files for outstanding follow up Book the invoices only when the income is received Their Drawbacks Difficult to Reconcile Records Added Human Efforts Reduced Accuracy Increased Dependability

7 Features of Solution by Apex + Features of Solution by Apex + Create Service Invoice with Sub-form Store these invoices in Tally.ERP 9 without Accounting Effect Generate Outstanding Reports on the basis of these Invoices Pass the revenue entry based on the receipt automatically Auto entry calculates the Service Tax and helps compliance

8 Service Invoice Features +ServiceInvoiceFeatures + Create a new special document Service Invoice Use Sub-Form for service description in invoice Entered text can be used as template in multiple invoices Include Logo printing with Terms & conditions in invoice Include firms Bank details (like RTGS) in invoice – for faster payment Have both Service Tax Applicable and Non Applicable services covered in Invoice

9 + + Create Service Invoice with Sub-form As you select the menu a Sub- Form will open for you to enter the service details

10 + + Service Invoice Sub-form Select your service category here. You can create your own service items too. Enter your service details here under the selected service category If you select the option YES under ADD ST, the Service tax component gets calculated automatically

11 + + Service Invoice Details The details entered in the sub-form appear in the invoice as seen. The break-up of Basic Amount and Service Tax is visible.

12 + + Service Invoice Format Terms & Conditions as needed Statutory Registration Details Bank details for RTGS Payments

13 Receivables Management + + Created invoices have no direct impact on Accounts Yet the Receivables Tracking is possible with two specially designed reports 1 - Outstanding Report - Summary 2 - Outstanding Report Detailed – Client Wise –Bill Wise User gets a clear view of Received and Pending payments with these reports

14 + + Outstanding Statement on the basis of the Optional Vouchers Summary - Party Information At A Glance Use this information to know the status of the party – whether it has debit balance or not

15 + + Outstanding Statement on the basis of the Optional Vouchers Details - Party Payment History Here we can see the details of outstanding

16 Receivables Management + Receipt Based Revenue Entry Booking + On receipt of the payment (partial or full) the figure is recorded against the respective invoice The module Auto Calculates Revenue and Service Tax components in the received amount Revenue is thus booked automatically on RECEIPT BASIS Service Tax compliance is also carried out as the Service tax component too gets booked automatically.

17 + + Pass the revenue entry based on the receipt automatically As you select the menu a Sub- Form will open for you to enter the Actual Collection details

18 + + Collection Details Total Payables Of An Invoice And Collected Partial Amount

19 + + Pass the revenue entry based on the receipt automatically Set YES to option enter Receipt Details for Auto Receipt Entry

20 + + Receipt Entry Details After filling the required details of the receipt amount auto revenue entry will be booked

21 + + Special Features – Import Opening Balance Import Data Collected in Excel Template to the Apex Module Data Available in Other Software Data Available in Tally.ERP 9 Get the Data Collected in Excel Template

22 + + Import Opening Balance – Excel Template Sr NoInvoice NoInvoice DatePosting DateCustomer NameDescriptionAmountService TaxGross AmountRTGS 1301/04/201301/04/2014Debtor 3Income Tax Work - filing Income Tax return for the Period HDFC Bank 2401/04/201301/04/2014Debtor 4Income Tax Work - filing Income Tax return for the Period HDFC Bank 3501/04/201301/04/2014Debtor 5Income Tax Work - filing Income Tax return for the Period HDFC Bank 4701/05/201301/04/2014Debtor 1Income Tax Work - filing Income Tax return for the Period HDFC Bank 51001/05/201301/04/2014Debtor 4Income Tax Work - filing Income Tax return for the Period HDFC Bank 61401/06/201301/04/2014Debtor 2Income Tax Work - filing Income Tax return for the Period HDFC Bank 71501/06/201301/04/2014Debtor 3Income Tax Work - filing Income Tax return for the Period HDFC Bank 81701/06/201301/04/2014Debtor 5Income Tax Work - filing Income Tax return for the Period HDFC Bank 91910/07/201301/04/2014Debtor 1Income Tax Work - filing Income Tax return for the Period HDFC Bank /08/201301/04/2014Debtor 1Income Tax Work - filing Income Tax return for the Period HDFC Bank /08/201301/04/2014Debtor 1Income Tax Work - filing Income Tax return for the Period HDFC Bank /08/201301/04/2014Debtor 2Income Tax Work - filing Income Tax return for the Period HDFC Bank /08/201301/04/2014Debtor 1Income Tax Work - filing Income Tax return for the Period HDFC Bank /09/201301/04/2014Debtor 2Income Tax Work - filing Income Tax return for the Period HDFC Bank /09/201301/04/2014Debtor 4Income Tax Work - filing Income Tax return for the Period HDFC Bank

23 Benefits of the module + Benefits of the module + Get rid of two books of accounts and save time. Pay tax on only the realized income. Calculate Service Tax Liability on received income automatically. Best control over invoicing and Outstanding Management

24 +ADD-ONFeatures by Apex + Address Book Get One Line Record for Contact Details of Parties Bank details in Party Master Show Own Bank Details in Invoice for ready reference to the party Day Book As per System Date Capture system date in every voucher at the time of creation / alteration Avoid Overwriting in Auto Numbering Avoid change of numbering in booked vouchers – even on back dated entry

25 Auto / Manual BRS Cheque Book Management Pre-Configured Cheque Printing Cheque Printing Cash / Cheques Deposit Slip Payment Advice + Tally Advantages +

26 + 8th Floor, Balaji Infotech, Plot A-278, Road 16-A, Wagle Industrial Estate, Thane (W) Maharashtra, India Phone No.: (100 lines) Thane Address: (Head Office) 699/1, Dnyansmruti, Deccan Gymkhana, Pune , Maharashtra, India Phone No.: Pune Address: +

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