FUNDAMENTAL OF TALLY

Book keeping:- It is an art to maintain our daily business transaction systematically date-wise in the set of book, like sales, purchase, payment, receipt, etc.

 

There are four types of book keeping:-

v Single entry system

v Double entry system

v Cash book system

v Indian accounting system

Ø  SINGLE ENTRY SYSTEM:- Those book in which we write all the business transaction in single column is called single entry system.

Ø  DOUBLE ENTRY SYSTEM:- Those books in which we write all the business transaction in the form of debit and credit is called double entry system.

Ø  CASH BOOK SYSTEM:- Those books in which we write all the cash transaction only is cash book system.

Ø  INDIAN ACCOUNTING SYSTEM:- Generally every businessman keeps in notebook which cover is red and pages are yellow and they write business transaction in his regional language is called indian accounting system.

 

Accountancy:- It is an art to maintain our daily business transaction in the set of books systematically date-wise. This mode is similar to Book Keeping.

            But book keeping is the low level accounting and accountancy is the high level accounting. So we can say where book keeping is end accountancy is begin.

 

There are following types of accountancy:-

·       General accountancy

·       Human resource [HR] accountancy

·       Government accountancy

·       Social accountancy etc.