How to activate GST in Tally ERP 9 ?
In this session You will learn how to activate GST in Tally ERP 9. Once activated, You can enter GST Registration details like GSTIN/UIN, Registration type Like regular dealer or composition dealer, Periodicity of Submitting GSTR-1 return; that is monthly or quarterly, E-way bill details etc. Tally provides you convenience of setting GST rates &… (2 comments)

Unearned Income
Income received during a period but applicable to the next period is termed unearned income.Suppose for example,a company received on April 1 2016 apprentice premium amounting to 60000 for three years. Though the trail balance drawn up at March 31st 2017,Shows 60000 against apprentice premium the whole amount should not be treated as Income for the… (0 comment)

What is accrued Income?
An income which is due but not received on the date of closing the books is known as accrued income. For example,when the books are closed on 31st march March 2016,Interest on certain securities has fallen due. 2500. But the  interest received is only 2000; So the accrued  interest amounts to 500.Before the books are closed,the… (0 comment)

What is prepaid expense?
Certain expenses like insurance premium,rent rates etc, are often paid in advance.In this case a part of the amount paid during a given period relates to a subsequent period .For example the debit in the following expense account shows the premium cost of two-year fire insurance policy. In this case,We paid 12 months insurance premium,… (0 comment)
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