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NETWORK BASICS

Network A system of interconnected computers and computerized peripherals such as printers is called computer network. This interconnection among computers facilitates information sharing among them. Computers may connect to each other by either wired or wireless media. A computer network consists of a collection of computers, printers and other equipment that is connected together so that they can communicate with each other.  


Network application
A Network application is any application running on one host and provides a communication to another application running on a different host, the application may use an existing application layer protocols such as: HTTP(e.g. the Browser and web server), SMTP(e.g. the email-client). And may be the application does not use any existing protocols and depends on the socket programming to communicate to another application. So the web application is a type of the network applications. 
There are lots of advantages from build up a network, but the th…

Recording Transaction of Simple Data

Digital payment | Premium VectorA transaction is a financial event that takes places in the course or furtherance of business and effects the financial position of the company. For example, when you deposit cash in the bank, your cash balance reduces and bank balance increases or when you sell goods for cash, your cash balance increases and your stock reduces. 
Transactions can be classified as follows: 
• Receipts – cash or bank • Payments – cash or bank • Purchases • Sales 
Recording Transactions  
The important aspect of accounting is to record transactions promptly and correctly to ascertain the financial status of a company as on a particular date. 
Generally, the business transactions may be of the following nature: 
• Purchase of goods either as raw materials for processing or as finished goods for resale • Payment of expenses incurred towards business • Sale of goods or services • Receipts (in Cash or by Che-ques) • Payments (in Cash or Che-ques) 
The Accounting information is useful to various interested parties, both internal and external viz.,  
• Suppliers, who supply goods and services for cash or on credit • Customers, who buy goods or services for cash or on credit • Employees, who provide services in exchange of salaries and wages. • Banks, with whom accounts are maintained • Suppliers of equipment, buildings and other assets needed to carry on the business. • Lenders from whom, you borrow money to finance your business • Owners, who hold a share in the capital of your business How Does A Business Transaction Recorded in Tally.ERP 9? 
In general accounting practice first we pass business tansactions in Journal and after that we transfer the amount either in Credit or Debit side of the corresponding Ledger Account pertaining to a particular Business Unit ( Organization or Firm). After finalization of the ledger balance within specific period we create Trial balance of the firm and later prepare the trading, Profit and Loss Account and Balance Sheet statement. The manual work will be classified as follows.  
1. Drawing up the traditional tubular format for Journal, Ledger Account, Trial Balance, Trading and Profit & Loss Account, and Balance Sheet by keeping the heading as a Business Unit name. 2. Passing business transaction in Journal with Debit and Credit figures. 3. Transferring the debit and credit figures to the corresponding Ledger Accounts. 4. Interpreting the balanced figure of the Ledger Accounts to the Final Account Statements. 
The same concept has been interpreted in Tally.ERP 9 Accounting Package but with few alterations. We just do three things in this software i.e. Creating Business Units ( here we called as Company), Passing the entries in Journal ( here called as Accounting Voucher Creation). Tally.ERP 9 automatically transfers the figures from Accounting Voucher to Ledger Accounts and as well prepares Trial Balance, Profit and Loss Account and Balance 

Sheets of the organization. The process is as follows: 

1. Company Creation 
2. Ledger Creation, which holds the summary of a spcific kind of business transaction. 
3. Accounting Voucher Creation, which is similar to passing business transactions in Journal. 

How to Record Transaction using the Voucher Type in Tally.ERP 9    
Whatever a transaction that has to be recorded in Tally.ERP 9 Accounting software, one must use any one of the available Voucher Types in the Business Package. Tally has provided 18 different Voucher Types excluding Payroll Vouchers. In addition, these are called as Pre-defined Voucher Types and even we can create as many Voucher Types as we can, such vouchers are called UserDefined Voucher Types. 
For instance Accounting Voucher Creation for Cash and Bank payments are relevant to pre-defined Payment Voucher. And for distinguishing the Sales as Cash or Credit we can create our own set of customized Voucher Types. The pre-defined Voucher types have been classified into 3 based on the nature of the Voucher Creation. 
Accounting VIn every business we will be seeing the sale, purchases, receipt and payments. All such transactions are known as Accounting Transactions therefore such transactions will be recorded in Tally.ERP 9 using the following Pre-defined Voucher Types: 

• Receipt • Contra • Payment • Purchase • Sales • Credit Note • Debit Note • Journal 
Inventory Vouchers 
All the Inventory or Stock related transactions before invoicing like Orders and Delivery Notes are being recorded in Tally.ERP 9 using the Inventory Voucher Types. Apart from that Creating a Compound Stock Item from Raw materials or transferring from a go-down to another go-down are also being recorded in Tally.ERP 9 using the Inventory Voucher Types. And the Inventory Vouchers are listed herein: 
• Purchase Order • Receipt Order • Rejection Order • Stock Order • Stock Journal • Sales Order • Delivery Note • Rejection In • Physical Stock 

Order Voucher 

These Voucher Types are helpful for the manufacturing Company as they raise job works and they need to record the raw material details. Hence, it is not mandatory for non-manufacturing companies. 
• Job Work Out Order 
vouchers 
• Job Work In Order 
With these Voucher Types available in Tally.ERP 9, using which you can record the transaction in this Application. 

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