Hi, this is Prasant from B.lor, Mostly I used SAP for Accounting and all ,once I had been worked with one Logestics company where I was using Tally ,we had one activities thats Petty cash management, when we draw money from bank that time we are preparing Voucher against cash drawn and passing an entry in tally
Petty cash a/c .........dr
To Bank a/c....Credit
then fund started to show in Petty cash account where we pass all expenses entry against that fund
To, Petty cash a/c
Note: you have to pass entry as per available fund in Petty cash.if there is shortage of 10 rupee in your petty cash fund and you paid it from your pocket considering when fund comes you will take that money but you can not pass that entry in Tally that will show Negetive balance which you will be answerable before Auditor..so take care of these issues.
Some provision entry you need to pass in Month ending. like Electricity bill will come 5th of every month but you have show that expenses on current month so you need to make provision entry and when u receive bill the you reverse that entry and pass correct entry..
You might need to pass employee reimbursement entry eg. Employee A submit Mobile bill 1000 Rs. for that you need to pass an entry.
Telephone Exp a/c.............Dr,
To, Particular Emp A a/c....
When u get approval for this and paid such bill
Emp A a/c...........Dr,
To, Bank / Petty Cash A/c...
These are all about Accounting Process in Tally if your question is what is Tally software then it is a complete management of Accounting ,Inventory and Payroll
hope this will be useful for you in case any more Q about such activities kindly visit pahechan.in and join our membership you will get all Finance Professional Discussion Forum.. Thank You
9th April 2011 From India, Bangalore