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Rent Income Ledger In Tally
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In TallyPrime there are two predefined ledgers Cash Profit and Loss accounts You can record all the cash related transactions using the Cash account and the Profit and Loss account reflects the previous year s
Rental income received from the tenant is Recurring in nature Pre decided amount Received every month Likely shown as rent received in the financial statements
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Step 1 From Gateway of Tally go to Accounts Info Step 2 Go to Ledger Step 3 Under Multiple ledgers Select the option Create Step 4 Fill the particulars in
For example you can select an Expense ledger for rent and enter the rent paid As in other transactions you can create the ledger on the fly by pressing Alt C By default in a journal voucher you need to first
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Here s a detailed explanation of ledgers and their significance in TallyPrime Table of Contents Understanding Ledgers in TallyPrime 1 Individual Accounts 2
2 Income and Expense Ledger The income ledger includes all the ledger accounts that keep track of the money made or owed concerning goods and services within a fiscal year An expenditure ledger can be made to
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https://www.accountingcapital.com/journal-entries/...
Rental income received from the tenant is Recurring in nature Pre decided amount Received every month Likely shown as rent received in the financial statements
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1 Go to Gateway of Tally Accounts Info Ledgers Create 2 Set Type of Ledger as Invoice Rounding 3 Select the Rounding method and enter the Rounding limit The option Is GST Applicable will be set to
Rental income received from the tenant is Recurring in nature Pre decided amount Received every month Likely shown as rent received in the financial statements
1 Go to Gateway of Tally Accounts Info Ledgers Create 2 Set Type of Ledger as Invoice Rounding 3 Select the Rounding method and enter the Rounding limit The option Is GST Applicable will be set to
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