refiling of Fire Gas

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Ramanjaneyulu (Querist)
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05 July 2011 My Question how to entry the refiling of fire gas in tally which will done to parties and how to issue invoice

kindly help me how to create a ledger and pass the entries for the same

Sanjeeva Reddy

Sanjeeva Reddy (Expert)
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05 July 2011 first create ledgers in tally as follows

1. Opening Stock a/c
2. Bank / Cash a/c
3. Sale of Fire Gas a/c

First entry on receipt of Gas
Opening Stock a/c Dr
To Bank / Cash a/c
(Being 1000ltrs of gas received)

On sale of gas
Bank/ cash a/c Dr
To Sale of Fire Gas a/c
(Being sale of 2 ltrs of Fire Gas)

On the end the year reconcile between total opening stock, purchases, sales and stcok remaining at the end of the year.

Opening Stock + Purchases-Sales= Closing Stock.

If there is difference between actual closing stock and book stcok then pass an entry for normal loss (since there is scope for eveopration of gas)

entry for the same
Normal Loss a/c Dr.
To P & L a/c
(Being JV passed for normal loss of 12 ltrs)

The balance will be the closing stock which will appeear on the credit side of P & L a/c while finalizing the accounts.

Then for the next year pass the same entries with opening balnce amount as previous year closing stock