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Home / Tally ERP 9 / Free tally erp 9 tutorial in telugu Introduction Part 1

Free tally erp 9 tutorial in telugu Introduction Part 1

Learn tally erp 9 tutorial in telugu

• Assets
The amount the association owns or is owed that has a positive value. Examples include cash, dues receivable and office furniture. In accounting, assets are generally debit items.

• Liabilities
The amounts the association owes to others such as an office supply company, the utility company, NEA dues, state dues, the bank or mortgage holder, lease obligations, or other creditors. In accounting, liabilities are generally credit items.

• Net Assets
The difference (net) between the total assets and total liabilities. This is sometimes called Fund Balance or Net Worth.

• Current Assets
The portion of the total assets that is cash or will be converted to cash within one year. The convertible items usually include short-term investments and payments due from members for dues.

• Fixed Assets
The portion of total assets that is tangible and unlikely to be converted to cash such as land, buildings, furniture and equipment.

• Other Assets
The remaining portion of total assets that does not fit into either of the other two asset categories. Typical inclusions are long-term (beyond 1 year) or restricted investments and long-term notes receivable.

• Current Liabilities
The portion of total liabilities that the association owes within one year. Included are such items as office expenses incurred but not yet paid, NEA and state dues accrued or collected from members and owed to the state, mortgage principal payments due within the next 12 months, withholding taxes collected but not paid, and the cost of staff vacation leave earned but not yet taken.

• Long Term Liabilities
The portion of total liabilities that the association owes beyond one year. The major inclusions are the mortgage balance, severance pay earned by long time employees, long-term notes and capital lease commitments.

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STATE BANK OF HYDERABAD, ***NAME:Hafiz SD, BRANCH:JALLARAM, ACCOUNT.NO:62041435239, IFSC CODE:SBHY0020609,****, ANDRA BANK*** NAME:SYED HAFEEZ BABA, BRANCH:8INCLINE COLONY, ACCOUNT.NO:116710100037533****SBI****NAME:SYED HAFEEZ BABA,ACCOUNT NO:35321924009,IFSC CODE:SBIN0013338,BRANCH:GODAVARIKHANI.,...