Transcript cash basis accounting system

CASH BASIS
ACCOUNTING
SYSTEM
for
Tally.ERP 9
Introduced By
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Welcome to
Apex Family and The World of Tally
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Together let’s explore the beneficial ways of using
Tally.ERP 9
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Present Business
Scenario
Cash Basis
Accounting
in Tally.ERP 9
Benefits of using
Apex solution and
Tally.ERP9
Challenges
Here’s Our Idea
How Apex Solution
Handles These
Challenges
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Business Scenario
Important professionals like you use Cash Basis Accounting
You also use Tally.ERP 9 for business
Business
Scenario
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You need a system to maintain Cash Basis Accounting in Tally.ERP 9
You want the system to follow all statutory and practical needs
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Main Business Challenges in Tally.ERP 9
Creating Invoices with Service Descriptions
Main Business
Challenges in
Tally.ERP 9
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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
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Alternate Solutions
Alternate
Solutions
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
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Their
Drawbacks
Their Drawbacks
Difficult to Reconcile Records
Added Human Efforts
Reduced Accuracy
Increased Dependability
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Features of Solution by Apex
Create Service Invoice with Sub-form
Features of
Solution
by Apex
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
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Service Invoice Features
Create a new special document ‘Service Invoice’
Service
Invoice
Features
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 firm’s Bank details (like RTGS) in invoice – for faster payment
Have both Service Tax Applicable and Non Applicable services covered in
Invoice
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Create Service Invoice with Sub-form
As you select the menu a SubForm will open for you to
enter the service details
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Service Invoice Sub-form
Select your service category
here. You can create your
own service items too.
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Enter your service details
here under the selected
service category
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If you select the option YES under
ADD ST, the Service tax component
gets calculated automatically
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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.
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Service Invoice
Format
Bank details for
RTGS Payments
Statutory
Registration
Details
Terms &
Conditions as
needed
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Receivables Management
Created invoices have no direct impact on Accounts
Receivables
Management
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
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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
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Outstanding Statement on the basis of the Optional Vouchers
Details - Party Payment History
Here we can see the details
of outstanding
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Receivables Management
On receipt of the payment (partial or full) the figure is recorded against
the respective invoice
Receipt Based
Revenue Entry
Booking
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.
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Pass the revenue entry based on the receipt automatically
As you select the menu a SubForm will open for you to enter
the Actual Collection details
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Collection Details
Total Payables Of An Invoice
And Collected Partial Amount
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Pass the revenue entry based on the receipt automatically
Set “ YES” to option enter Receipt
Details for Auto Receipt Entry
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Receipt Entry Details
After filling the required details
of the receipt amount auto
revenue entry will be booked
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Special Features – Import Opening Balance
Data Available in
Tally.ERP 9
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Data Available in
Other Software
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Get the Data Collected
in Excel Template
Import Data Collected in Excel Template to the Apex Module
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Import Opening Balance – Excel Template
Sr No Invoice No Invoice Date Posting Date Customer Name
Description
Amount
Service Tax Gross Amount
RTGS
1
3
01/04/2013
01/04/2014
Debtor 3
Income Tax Work - filing Income Tax return for the Period 2013-2014
25000.00
3090.00
28090.00
HDFC Bank
2
4
01/04/2013
01/04/2014
Debtor 4
Income Tax Work - filing Income Tax return for the Period 2013-2014
25000.00
3090.00
28090.00
HDFC Bank
3
5
01/04/2013
01/04/2014
Debtor 5
Income Tax Work - filing Income Tax return for the Period
50000.00
6180.00
56180.00
HDFC Bank
4
7
01/05/2013
01/04/2014
Debtor 1
Income Tax Work - filing Income Tax return for the Period 2013-2014
5000.00
618.00
5618.00
HDFC Bank
5
10
01/05/2013
01/04/2014
Debtor 4
Income Tax Work - filing Income Tax return for the Period 2013-2014
20000.00
2472.00
22472.00
HDFC Bank
6
14
01/06/2013
01/04/2014
Debtor 2
Income Tax Work - filing Income Tax return for the Period 2013-2014
44000.00
5438.00
49438.00
HDFC Bank
7
15
01/06/2013
01/04/2014
Debtor 3
Income Tax Work - filing Income Tax return for the Period 2013-2014
40000.00
4944.00
44944.00
HDFC Bank
8
17
01/06/2013
01/04/2014
Debtor 5
Income Tax Work - filing Income Tax return for the Period 2013-2014
23456.00
2899.00
26355.00
HDFC Bank
9
19
10/07/2013
01/04/2014
Debtor 1
Income Tax Work - filing Income Tax return for the Period 2013-2014
37750.00
4666.00
42416.00
HDFC Bank
10
20
01/08/2013
01/04/2014
Debtor 1
Income Tax Work - filing Income Tax return for the Period 2013-2014
27750.00
3430.00
31180.00
HDFC Bank
11
22
15/08/2013
01/04/2014
Debtor 1
Income Tax Work - filing Income Tax return for the Period 2013-2014
56001.00
6921.00
62922.00
HDFC Bank
12
23
15/08/2013
01/04/2014
Debtor 2
Income Tax Work - filing Income Tax return for the Period 2013-2014
11100.00
1372.00
12472.00
HDFC Bank
13
24
15/08/2013
01/04/2014
Debtor 1
Income Tax Work - filing Income Tax return for the Period 2013-2014
38201.00
4721.00
42922.00
HDFC Bank
14
27
10/09/2013
01/04/2014
Debtor 2
Income Tax Work - filing Income Tax return for the Period 2013-2014
20000.00
2472.00
22472.00
HDFC Bank
15
28
13/09/2013
01/04/2014
Debtor 4
Income Tax Work - filing Income Tax return for the Period 2013-2014
11100.00
1372.00
12472.00
HDFC Bank
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Benefits of the module
Get rid of two books of accounts and save time.
Pay tax on only the realized income.
Benefits of the
module
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Calculate Service Tax Liability on received income automatically.
Best control over invoicing and Outstanding Management
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Address Book
Get One Line Record for Contact Details of Parties
ADD-ON
Features
by Apex
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
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Auto / Manual BRS
Cheque Book Management
Tally
Advantages
Pre-Configured Cheque Printing
Cheque Printing
Cash / Cheques Deposit Slip
Payment Advice
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Thane Address: (Head Office)
Pune Address:
8th Floor, Balaji Infotech, Plot A-278, Road 16-A,
699/1, Dnyansmruti, Deccan Gymkhana, Pune
Wagle Industrial Estate, Thane (W)- 400 604
411004,
Maharashtra, India
Maharashtra, India
Phone No.: +91-22-25818181 (100 lines)
Phone No.: +91-20- 25530214
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