LIABILITY | EXPENSE

LIABILITY:

These liability are those liability which have to pay by the proprietor for long time or sort time.

Liability are two type:

Current Liability

These liability are those liability which have to pay by the proprietor for soft term to own business out sides investors, shares holders, soft term loan or creditors, etc.

Fixed Liability

These liability are those liability which have to pay by the proprietor for long term to own business, partners, debenture or long term loan.

EXPENSE:

These expenses are those expenses which have to spend by the proprietor for business activities.

These are two type:

Direct expenses:

These expenses are those expenses which have to spend by the proprietor directly.

For examples:

Carriage - in & out word
Fright
Transport
Tax
Fuel
Wages
Posts and stamp
Rent, etc.

Indirect expenses

These expenses are those expenses which have to spend by the proprietor indirectly for business purpose.

For examples:

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Advertisement
Books & Stationary
Business promotion
Staff welfare
Medical allowance
Provident fund
Daily allowance
Travels allowance
House rent allowance
Rent paid
Interest paid
Commission
Discount allowance, etc.

Comments

BAD DEBTS | Bankrupt | Petty Cash

Bad Debts: These amounts are those amount which have to never receipt from the creditor companies. Bad Debts Recover: These amounts are those amount which have to receipt few percent of the total amount from the creditor companies. Bankrupt: A person or a company who has to lost an image or value from the market. full-width Petty Cash: It is used to maintain all expenses & all miscellaneous expenses.

Tally & Tally.ERP9

TALLY T ally is a complete accounting package. It is used to maintain the all transaction as an account. In tally we can maintain all daily transactions as a sales account and purchase account. By the help of Tally we can create many accounts. In which include income & expenses account, profit & loss account, trading & non-trading account. We can also create trial balance or balance sheet. VERSION OF TALLY: 1. Tally 4.5 2. Tally 5.4 3. Tally 6.3 4. Tally 7.2 5. Tally 8.1 6. Tally 9.0 7. Tally ERP9 TYPE OF MODE: 1. Educational mode. 2. Professional mode. TYPE OF TALLY: 1. Tally Silver (Single user) 2. Tally Gold (Multi user) MASTER KEY: 1. Enter Ke...

PURCHASE RETURN | SALES RETURN | DEPRECIATION | APPRECIATION

Purchase Return: These transaction are those transaction in which customer have to return any purchase items or assets to supplier. Sales Return: These transaction are those transaction in which the customer have to sales return to supplier. full-width Depreciation: These amount are those amount which have to reduce according to the value of fixed assets. Appreciation: These amount are those amount which value have to increase of the fixed assets according to time period. Like: loan and building.

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