Category: Commerce Notes PPT

Accounting is an academic field that can be defined as a process of reporting, recording, summarizing, and interpreting economic data. Introduction to accounting is essential for any organization as it helps in making better decisions that lead to effective choices. This is done by providing information on the financial status of the business.

According to the American Institute of Certified Public Accountants (AICPA), accounting is the art of recording, classifying, and providing a summary in an essential manner and in terms of money, transactions, and events. These transactions and events have, at least in part, a financial character. The results of these events and transactions can later be interpreted.

These days almost everybody uses accounting. Hence, a good knowledge of accounting can be beneficial for all students. One can also look at accounting as a language of finance. And if one wants to learn this language of finance, then he or she needs to learn its basics and important aspects. Some of those aspects are given in a list below.

Economic events are basically consequences an organization has to undergo whenever any number of monetary transactions are involved. For example, purchasing new machinery, machine installation on-site, and transportation.

• Measurement, Identification, Recording, and Communication

The accounting system must be outlined in a manner that the right data is identified, measured, recorded, and communicated to the right individual and at the correct time.

This refers to the level of a business operation and the size of activities.

• Interested Users of Information

Interested users of information refer to communicating important financial information to the customers. This is according to what will be used for making the right decision.

Also, apart from all of this, there are also some basic accounting procedures. Those accounting procedures are:

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The Basic Accounting Procedures

In this section, readers will be able to understand the basic accounting procedures in more detail. Those basic accounting procedures are:

1. Double Entry System

There are two main methods that can be used for accounting. These methods are single entry systems and double entry systems. Usually, the double entry system is used for higher quality accounting purposes. It is an important accounting mechanics process and system.

It should be noted that the double entry system of accounting mainly deals with either two or more accounts. These accounts are dealt with for every single business transaction. Students should remember that the double entry system is a basic and very fundamental concept that encompasses both accounting and book-keeping currently.

Also, every financial transaction has an equal and opposite effect in, at the very least, two accounts. The equation for this can be mentioned  as:

Assets = Liabilities + Equity

There are also several advantages of using the double entry accounting or system. If you want to learn what those benefits are, then go through the list that is given below.

• A double entry system helps in enhancing the accuracy of the accounting. This is done with the help of a trial balance device.

• Profit and loss that one suffered during a year can be calculated through details.

• An organization can follow the double entry system to keep the accounting records in greater detail. This helps the organization in exercising control.

• Comparison can also be made by referring to the recorded details. The details of the first year can also be compared with the second year. Any deviations that are found during the comparison can be dealt with later.

These are all the major advantages of using a double entry system.

2. Traditional Approach

The traditional accounting approach is used for classifying the accounts in an organization. Also, there are different classifications that are made for the types of accounts. These classifications of accounts are:

These accounts are often of natural people, human beings, and artificial people. Personal accounts can also be classified into different types, including natural persons, artificial persons, and representative persons.

These are the accounts that don’t fall under the category of personal accounts. These types of accounts are classified into different kinds, including real accounts and nominal accounts. Real accounts can further be differentiated into tangible real accounts and intangible real accounts.

These are the important types of traditional approaches to accounting.

3. Journal and Journalising Process

There are several transactions that are carried out in an organization every single day. Some of these transactions can be similar while others can be different. This is why it is not possible to keep all the journalising process without writing it or recording it down.

Further, one has to ensure that nothing is omitted or avoided in these transactions. This is why these transactions are kept in books. And journalising can be defined as the traditional form of keeping records of everything that is happening in an organization.

Also, a journal is the book of primary entry. It is also known as the book of original entry. This means that transactions are first entered in the book and it is also the most vital book of accounts. The transactions should be recorded in a systematic and chronological manner.

Journals can also be used to keep track of all the accounts that are debited or credited. Students should remember that keeping a record of transactions in ‘journals’ is known as ‘journalising the entries.’ There is also a list of activities that are recorded under journal entry.

4. Modern Approach of Accounting Classification

When it comes to the modern approach, the accounts are either credited or debited. This means that the accounting equation can be used to debit or credit an account. Hence, it is known as the accounting equation approach. There are also several modern rules of accounting.

The basic accounting equation that is valid in this case is:

Assets = Liabilities + Capital (This is known as the Owner’s Equity)

This equation can also be expanded in the form of:

Assets = Liabilities + Capital + Revenues – Expenses

Further, it can also be said that Profit = Revenues – Expenses

It is important for the accounting equations to remain balanced every single time. Further, one should also keep in mind that every equation has a dual aspect. This means that every transaction would either affect the debit side or the credit side.

It is also possible for a transaction to affect two accounts on the debit side or two accounts on the side of credit. This information should help students answer questions like what is a modern approach as we have given a modern system of accounting introduction in this section.

Fun Facts About the Fundamentals of Accounting

Do you know that there are several fundamentals of accounting? Some of those fundamentals are given below in a list.

An asset can be defined as the economic value of an item that is possessed by an organization. In other words, assets can also be defined as items that can be transformed into cash. These items can also generate income for the enterprise shortly. Assets are useful when it comes to paying any expenses of the business debt or entity.

Liability is defined as the economic value of an obligation or debt that an organization has to pay some other organization or individual. It can also be explained as the obligations that come out of previous transactions. These are payable by the enterprise. This payment is possessed by the organization.

This is one of the third most important segments of a sole proprietorship’s balance sheet. And one of the primary aspects of the accounting equation is:

Assets = Liabilities + Owner’s Equity

This equation shows the investment made by the owner in the trade minus the withdrawal made by the owner from the trade plus the net income of the business that is concerned.

One might also find it interesting to note that Luca Pacioli is the father of modern accounting.

In businesses, written communication is an important medium for passing information. This form of written communication used for business purposes is termed Business correspondence. The correspondence in business communication can happen within the organization, between different organizations, or between client and organization. 

The importance of business correspondence lies in the fact that it is the formal way of exchanging information by which professional relationships are maintained between organizations, employees, and clients. Since it is in a written form, it can serve as a future reference for the information being communicated.

Business correspondence happens daily in the lives of businessmen in the form of letters to suppliers, letters of inquiry, complaint letters, job application letters, and a few other forms.

 

Business Correspondence Meaning

Business correspondence is an umbrella term used for any form of written communication that happens in business relationships. It could be with business partners or internal communication within the organization.

Business correspondence is mostly in the form of letters. People related to any business understand the significance of business letters since this correspondence in business communication can be used by them to express themselves, ask a doubt or clarification regarding any uncertainty. 

 

The Importance of Business Correspondence

Business correspondence is essential in realizing organizational goals. Meeting people personally can be quite a time-consuming job hence business correspondence helps businesses with:

• Maintaining Proper Relationships – The significance of business letters is governed by the fact that it facilitates effective communication which does not cost the business much. It strengthens the business by making communication, within and outside the organization, clear and concise.

• Acts As Evidence – The importance of business correspondence is further solidified as it lets businesses keep records of facts that can serve as evidence at a later point in time.

• Creating Goodwill – A company’s growth increases due to business correspondence. It creates goodwill between business and clients since any letter like a complaint, feedback, or suggestion promotes a healthy relationship.

• Costs Very Less – Business correspondence is an inexpensive mode of communication in terms of money as well as time. This method of correspondence in business communication is very convenient for businesses.

• Removes Ambiguity in Communication – It is a formal correspondence between the involved parties which helps in unambiguous communication.

• Helps Businesses Expand and Grow – A business can have a seamless flow of information regarding any product or resources through business correspondence. This helps in the proper utilization of manpower and time management, which in turn leads to expansion and growth in business.

 

Types of Business Correspondence

A business typically uses many kinds of business correspondence in its day to day activities. There are six most common kinds of business correspondences in the business community as defined below:

1. Internal Correspondence – The flow of information between employees, departments, branches, and units of the same company is termed internal correspondence. They can be formal or informal. 

1. Some examples of formal internal correspondence are promotion letters, a formal request for approval, a memorandum, etc. They are mostly printed on paper.

2. A routine or informal internal correspondence can be a quick instruction between a manager and subordinate, which are mostly in the form of emails.

2. External Correspondence – The communication between 2 different organizations or between an organization and a client comes under external correspondence. This type of correspondence in business communication is usually made to suppliers, existing and prospective clients, government offices, etc.

3. Sales Correspondence – Any communication related to sales is called sales correspondence. It is not only concerned with the sale of a product or service but encompasses many other activities. It includes marketing letters, invoices, discount letters, statements of accounts, etc.

4. Routine Correspondence – Such correspondence happens routinely like orders, inquiries, invitations, replies, etc.

5. Personalized Correspondence – This involves personal and emotional factors. Some of the examples of this type of correspondence are letters of gratitude, congratulation letters, appreciation notes, letters of request for a recommendation, etc.

6. Circulars – This type of correspondence is used when a business has to convey a common matter to a large audience. A few examples are notices of tenders, change in contact information, etc. 

Qualities of effective business communication can be summed up in the figure below:

 

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What is Correspondence?

Correspondence is simply written communication from one person to another for various reasons: to report information, convey feelings, or ask questions. It can be verbal or written. The communication may include memos and emails. It can range from formal to informal. In all cases, it is a two-way exchange of information.

The goal of business correspondence is to communicate accurately and effectively. Therefore, it is important to select the most appropriate format for the message and its recipients. Business correspondents can include people or businesses. They may include individuals who are in a position to give or receive business information, such as a president, a vice president, a chief operating officer, and/or a business manager. Businesses are entities, such as a company, a subsidiary, or a joint venture. Businesses may include other groups of people who are in a position to receive or give business information. Such groups may include the human resources department, the finance department, the legal department, and/or the communications department. Finally, they may include businesses. They may include government organizations, non-profit organizations, political campaigns, advocacy groups, and/or social organizations.

Business correspondence can include memos and emails. Memos are typically short (two-page or less) documents that explain information or contain instructions. E-mails are short text documents that can be sent to one or more recipients. Both types of business correspondence contain similar information, such as the purpose, date, author, and recipient.

The format of business correspondence is one of the most important factors in determining its success. The right format will help get your message across and make it appear clear to the intended reader. You can use the information below to help you select the correct format for your message and its intended recipients.

If you are writing to a business person, there are many different ways to send a memo, the most common being to email the document.

In addition, you may use email to send messages to groups, including all the people in your organization. For example, you may email your organization’s president to introduce yourself.

There is also the e-mail address of the chief executive officer or CEO of a business. This may be different from the company’s mailing address and you will need to double-check. Many companies also have their Web sites and frequently post their chief executives’ email addresses on their homepage or other areas of the site.

Business Correspondence (or Business Letters) is a form of written communication usually used in the workplace and sent and received as part of the job of a business professional. The form is mainly employed when there is an urgency for a reply to a particular letter or message. It is different from regular communication because it’s done via a business-like medium. Business letters are usually written in the style of a formal document; however, they often need to be brief and well-organized. They are usually used in business, especially when communicating with or giving information to clients, vendors, contractors, other businesses, and/or other business people. Business letters are commonly used in the business world, in addition to the more common personal letters.

The letter and the business are often separated by the word ‘Correspondence’. ‘Business Correspondence’ may mean anything from a sales letter or letter sent from one business person to another, to an employee’s letter sent from a workplace back to a company, or a personal letter sent to a business.

A business letter is considered a formal letter by many people. However, if there is a need for something in a business letter to be informal, it can be done by using, “I would like to ask…,” instead of “I would like to propose…” (i.e. the word ‘I’ or ‘me’ is placed at the beginning of the sentence). Sometimes a more informal greeting is used with formal business letters, as a reference to an example above: “Hello”, “Dear, _________”, “Dear Sir, Mr._________.”

In English, the term correspondence (also spelt “correspondence”) comes from the Latin corresponses, from cor, “heart” + responsus, “answer”. Correspondence is not as common as the English word letter, with which it may be substituted in modern dictionaries (excepting military usage).

 

Format 

Business letters follow many standard formats. Letters that contain all the information needed to make a decision can be quite short. Sometimes they are only a simple reminder of an action or a request for more information. Business letters are written on business stationery, or as a result of sending a letter in response to an enquiry. A reply letter may follow the action letter, containing information that is in response to the information in the action letter. Alternatively, information may be supplied in a questionnaire. A letter with many details often follows a standard format called a model, or template.

 

Model 

A model sometimes called an executive letter, is a template or model that provides a style, tone and structure of business letters, with a set format and many sections. Different types of models exist for different purposes, often including a preamble, text, signature block, and response. The model can usually be found in a book, an instruction manual or a software manual. A cover letter is often sent as a model for a business letter or an email.

Money is the most practical and basic requirement to start a company. The capital structure is the initial fund or money that one needs to start initial business activities. It is the foundation brick of business finance, depicting how you can use different sources of money to initiate growth and finance overall operations. To raise long-term business funds, an arrangement of money from different sources is needed, and this is known as the capital structure. It refers to the combination or proportions of preference share capital, equity share capital, long-term loans, debentures, retained earnings, and other funding sources in the total capital amount which a firm raises to run its business.

What is Capital Structure?

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A careful and intelligent balance between debt and equity is known as the capital structure from a technical point of view. Funds can be divided into two sectors. The first one is owner’s funds, followed by borrowed funds. The answer to the question of what is capital structure is that capital is a mixture of both, which a business uses to finance its day-to-day operations, growth, and assets. Owner’s funds or Equity includes Preference share capital, equity share capital, retained earnings, reserves, and surpluses. While debt or borrowed funds include public deposits, loans, and debentures. 

When Does a Company Have Greater Investor Risks?

The true capital structure meaning is that it is a combination of long-term fund sources. Whenever the proportion of equity and debt maximizes the value of the company’s equity share, it is said that the capital structure is optimal. However, a company is said to have an aggressive capital structure if it is heavily funded by debt. Such firms have a greater risk to investors, but this can also be the primary source of the company’s growth.

Comparing Equity and Debt

Debt vs. equity is a long-fought battle, and now we shall look into it in detail. On the other hand, debt is far riskier than equity because of the repayment of capital with assured interest that the lender earns. Another reason that supports the fact that debt is riskier is that debt interest is a tax-deductible expense. Therefore, it brings down the business’s tax liability, and after-tax dividends are paid out of profit. Liquidation of the company can occur in case of any failures related to repayment of the principal amount or interest payment. Debt undoubtedly adds to the financial risks faced by a business and is more dangerous. 

Factors Affecting Capital Structure

There are various factors determining capital structure, and we shall look into each of them in detail.

• Position Of Cash Flow: Debt capacity is the company’s ability to pay loans and expenses. If the company has a fluent cash flow position, then they may raise funds by issuing debts as they can be repaid in some time. The ability to meet financial obligations is affected if a firm operates in a volatile financial environment. 

• Interest Coverage Ratio: It is the ratio between EBIT or earnings before interest and tax and the interest itself. The company can have more borrowed money if this ratio is high.

• Having Control: The company must issue debts as it does not cost dilution of control. Public issues can make the firm vulnerable and destroy its reputation. So there’s a constant turmoil whether to pay more for capital or give up control.

• Investment Or Return: If the rate of interest on debt is lower than the return on investment, then the business can increase its finance through borrowed funds. But the company should go for equity if they are not sure if they can cover the fixed cost of interest. 

• Floatation Costs: This helps in determining the finance sources after you understand capital structure meaning. The floatation cost includes prospectus cost, broker’s commission, underwriter’s fee, security issuing costs, and more.

• Stock Market: Determining securities is influenced by stock market conditions. Investors are ready to invest in equity shares and take a risk during the boom. But during times of depression, it’s exactly the opposite. 

• Flexibility: It can be incorporated by issuing preferences and debentures. A good financial plan should have the scope to contract or expand whenever required. Hence it should be sound enough and flexible. 

• Rate Of Tax: If the rate of tax is high, then debts are preferred over equity as interest on debt is allowed like a deduction. Again, if the rate is low, then equity gets the first preference. 

Supply, Supply Curve, and Change in Market Equilibrium:

Market equilibrium study is a harder challenge, and it gets tougher when an individual has no idea about several fundamentals of the economic concepts. Thus, it is necessary to have an understanding of all the concepts involved, especially the ones that are more important, like supply and demand.

Starting with the concepts, what do you understand by the supply and supply curve?

Supply is the total quality of all the goods that the seller willingly sells or offers at a sale at:

Furthermore, a supply curve is a graphical representation that is useful to explain the supply schedules (also called supply function) effectively. It acts as the logistic planning of the points showing the amount of well supplied at different prices. According to the Law of Supply, the slope of the demand curve is upwards moving.

Furthermore, let us move on to a supply function (supply schedule). A supply schedule (function) is the mathematical representation of the supplies of the total number of goods and different factors that help in determining the supply.

Qd = f(Px, Y, COP, C, T, Inp, …)

The major determining factors in a supply function are as follows:

• Px – The cost of the product

• Y – The consumer’s income

• COP – Cost of production

• C – Number of sellers OR total competition

• T – Tax

• Inp – Production’s input

Market Equilibrium:

Moving ahead, let us discuss the definition of the market equilibrium.

The market equilibrium is the pair of price and quantity in which the demanded quantity equals the supplied quantity. The representation of Market equilibrium is possible when the market demand and market supply intersects, keeping the other factors constant.

Changes in Market Equilibrium and its Impacts –

Further, we will start with the discussion on changes in market equilibrium, changes in market price, changes in equilibrium price, and other defining factors. Also, we can explain the changes’ impacts on supplies, prices, and commodity output when the commodity demand stays constant.

Starting with the examination of the increase in supplies, consider that last year India experienced a good monsoon season, thus yielding higher excess and surplus in the number of wheat crops. This would have directly raised the wheat supply across the Indian market, causing a right shift to the supply curve.

Additionally, the increase in wheat supplies has an impact on the equilibrium quantity, and the equilibrium price is mentioned in the below graphical representation.

Generally, the demand curve (DD) and the supply curve (SS) intersects at point E. This is the factor that determines that OP is the equilibrium price’s measurement, and OQ is the measurement of equilibrium quantity.

Furthermore, due to the better monsoon season, there must have been a result of bumper wheat crops, thus the supply curve of wheat shifts towards the right from the line SS to the new one, i.e., S1S1. Now, S1S1 (the latest supply curve) intersects DD (the given demand curve) at point E1, determining OP1, the new lower equilibrium price, and OQ1, the larger quantity.

Thus, the increasing supply resulted in the falling price and increase the quantity of equilibrium.

But, rapid enhancements in the technologies, reduced prices for the factors of commodity production or lowered excise duty on any commodity results in the increased commodity supplies.

For example, given, the recent improvements in technology for personal computers’ manufactures served for increasing the personal computers’ supplies. This resulted in the shift in the supply curve towards the right side. Thus, it also resulted in the lowered-down prices of personal computers.

Business activities refers to all those economic activities, whether directly or indirectly  involved in the creation of goods and services for satisfying the consumer needs and ensuring profit earning through customer satisfaction. Business activities are often divided into operating activities, investing activities, and financing activities. Among all the business activities, operating activities tend to play a significant role because these activities directly influence the company performance. 

Based on function, business activities are classified into broad categories namely Industry and Commerce. 

Industry is engrossed with the production, processing or manufacturing of goods. These types of business units are known as “ industrial enterprises”. The Industrial enterprises produce consumer goods as well as machinery and equipment. On the other hand, commerce activities include all the activities, which are necessary for storage and distribution of goods and services. Such units are termed as “commerce enterprises”. The commerce enterprise provides trading and service activities like banking, insurance, transport, and warehousing. 

Read the article below to know types and categories of business activities in brief.

What is Business?

Business is described as an organization or entity engaged with industrial, commercial, or professional activities. Businesses can be for-profit items/services, or they can be non-profit groups that function to fulfill a humane mission or further a social cause. The term “business” also refers to the organized activities and efforts of individuals to build and sell goods and services for profit. Businesses range in scale from single proprietorship to multinational corporations. 

What are Business Activities?

Business activities refers to all those activities that are involved in producing goods or providing services. Business activities reflect the efficiency of organizations with respect to the consumption of resources in the production process or the number of advanced resources, give a representation of financial and economic activities, and also reveal the potential and internal capabilities of an organization.

Understanding the Types of Business Activities

The business activities are classified into three different types namely operating activity, investing activity, and financing activity. Let us discuss the three types of business activities briefly:

Operating Activities: Operating activities refer to all those business activities that are directly or indirectly related to the provision of goods and services. As such they have a direct impact on cash flow, and eventually on income.

Investing Activities: Investing activities refers to all those activities that aimed to be capitalized for more than a year. This includes capital expenditure such as purchase of long term assets or real estate.

Financing Activities: Financing activities refer to all those activities that fund the business but are not directly related to the revenues from goods and services. Common financing activities include bonds, loans, and share issues.  

Classification of Business Activities

The business activities are broadly classified into two categories namely:

1. Industry 

2. Commerce. 

Let us have brief information about both the terms.

1. Industry

The industry sector is defined as a sector where raw material gets transformed into beneficial products. An industry may create capital goods or consumer goods such as cloth, radio, bread, butter, etc. The industry can be classified into three categories namely: 

1. Primary Industry

2. Secondary Industry

3. Tertiary Industry

Let Us Understand Briefly About the Three Types of Industries:

Primary Industry

Primary industry is known as extractive industries. It involves activity connected with the production of wealth directly from natural resources such as water, air, land, etc. The primary sector involves activities like processing and extraction of natural resources etc. These primary industries are further divided as:

• Extractive Industry: Industries that draw out or extract products from natural sources are known as Extractive Industry. Some of the examples of extractive industries involve lumbering, farming, mining, hunting, and fishing operations.

• Genetic Industry: The industries that involve the ventures of breeding and rearing of living organisms, such as plants, birds, animals, etc. are known as genetic industry. For example, rearing of cattle dairy farms or rearing of plants in the nursery is covered in the genetic industry.

Secondary Industry

The industry that uses raw materials as input and produces finished products as output is known as the secondary industry. Secondary industries are divided into two parts:

• Manufacturing Industries: These industries are involved in the process of transformation of semi-finished goods or raw materials into finished goods.

• Construction Industries: These industries are involved with the construction of dams, roads, buildings, etc. These industries use the commodities of manufacturing industries such as iron and steel, cement or lime.

Tertiary industry

Tertiary industries are regarded as providing services that promote the flow of services and goods. This industry helps in the actions of the primary and secondary sectors.

2. Commerce

Commerce refers to the sum total of all the activities related to the placing of products before the ultimate consumers. It provides a significant link between the producer and consumers of goods. The term “ commerce” is defined as an activity that aims to remove the hindrance in the process of exchange. Commerce includes all those business activities which are related  to the sale and purchase of goods and services and facilitate their availability for consumption and use through trade, banking, insurance,and warehousing. Commerce is classified into two different categories namely:

1. Trade

2. Auxiliary to trade

1. Trade

Trade is an essential part of commerce. It involves selling and buying goods and services. There are two types of trades namely – Internal and External Trade.

• Internal Trade: It refers to the selling and buying of goods or services within the geographical contours of a country. Internal trade is also known as domestic trade or home trade. Internal trade is divided into two types: Retail trade and Wholesale trade.

• External Trade: External trade is referred to the selling and buying of goods or services beyond the geographical contours of the country. In external trade, the market is vast. External trade is of 3 types: export trade, import trade, and entrepot trade.

2. Auxiliary To Trade

In terms of business, the term “Auxiliary to Trade ” refers to all those activities which provide support to performing activities related to trade and industry. In fact, the auxiliary to trade provides a facilitating base to industry and trade. Such activities include insurance, banking, warehousing, advertising, and communication.

Interrelationship Between Industry, Trade, and Commerce

The three branches namely Industry, Trade, and Commerce are associated with each other. Each branch is dependent upon the other for the achievement of the aims and objectives of the business. For example, industry refers to the production of goods and services, trade refers to the sale and purchase of products, and commerce refers to the arrangement for their distribution. Industry can only succeed if goods are marketed, and without the production of goods, trades and commerce are not possible. Hence, trade provides necessary support to both industry and commerce. Therefore, industry, trade, and commerce are interrelated to each other and cannot be operated individually. Service facilities also provide necessary enhancement to trade.

Tally Intro

Intro to Tally can be determined as the system of both business accounting and also the management of inventory. The basic and advanced concepts are provided with the tally intro. It is considered that before working in tally one must know the basics of accounting. Providing accuracy, carrying out business transactions efficiently is not just time-saving but also makes the calculations simple and easy for the management.

What is the Tally?

Any company’s day to day business data is recorded in an ERP accounting software package which is known as the tally. In India, this ERP accounting software is used in every financial accounting systems, be it small or large scale enterprises. There are various shortcut keys for duplicate entry in tally.

Combination of function keys or voucher keys in tally is tabulated below; this includes credit note shortcut key in tally and shortcut key for optional vouchers in tally

Intro to Tally Basics

Here is the list of the tally voucher entry shortcut key including the shortcut key for an optional voucher in tally and shortcut key for duplicate entry in tally in the following table:

Tally Voucher Entry Shortcut Key

These are the voucher entry shortcut keys of tally used widely. To excel in tally one must know the entire tally voucher entry shortcut key by heart.

Tally is one of the most important software used for any kind of business. It makes the task easy and time-saving and also error-free with tally voucher entry keys and also with shortcut keys for vouchers in tally. There are also shortcut key in Tally for duplicate entry which solves various business transactions and online functions.