Finalisation of Accounts in Tally Prime | Accounts Finalisation

For weekly Live Interview Preparation and Test Sessions 📱Join our What's App Group Now (FOR FREE)- Accountant Interview Preparation https://chat.whatsapp.com/J14eSAklMai... 📚 Learn More with Skillshort: GST, Income Tax, ITR, Accounting, Tally, and TDS Returns To Join our Courses, Fill out the Registration Form for online or offline classes https://forms.gle/pnJLgZbebRfhQvC28 📞 Call or WhatsApp us @ 7878870903 🔗 Stay Connected: Facebook:   / iskillshort   Instagram:   / iskillshort   Youtube:    / @iskillshort   LinkedIn:   / ca-rupa-jain-daga-5278bb208   Explore more about our courses and services. 📱 Download the Skillshort Mobile App: Stay updated on the go with our mobile app. 👉 Download App- https://play.google.com/store/apps/de... 🌐 Visit Our Website: https://skillshort.com/ In this video, we will talk about the finalisation of books of accounts in Tally Prime. Part 1 of the video is where we will vouch for indirect expenses. Generally, the Finalisation of accounts is done at the year-end. However, I recommend the same be done monthly to avoid any errors or omissions. In this video, we will look into the aspects of GST, TDS, and Income Tax. Given below are the expenses which are made frequently. Advertisement - In case of the same, we will check whether a credit is not blocked and Sec 16 has been complied with. We need to check TDS Compliance as well. For an advertisement, TDS is deductible at the rate of 1% for individuals/Huf and 2% for others. The limit for the same is Rs 30,000 for a single bill and Rs 1,00,000 in aggregate. -In case of Broadband charges, telephone charges, electricity, and salary full year booking are made or not. -Depreciation is required to be charged as per Income Tax Act or Companies Act whichever is applicable. -Capital Expenditure is not booked as revenue expenditure -Proper documentation is maintained in respect of every expenditure -More than 2000 donation is not made in cash -The accrual basis of Accounting is followed properly. Proper bifurcation is made between prepaid and current expenses. TDS is deducted wherever applicable For the excel sheet, click on below link https://docs.google.com/spreadsheets/... FOR ACCOUNTING CONCEPTS    • ACCOUNTING CONCEPTS   FOR TALLY PRIME IN HINDI    • Tally Prime In Hindi   FOR GST    • GST RETURN FILING   FOR TDS    / playlist   list=PLTdBBIrgEWDXYn7xQGY8R2TQeJhjZJJIT FOR EXCEL COMPLETE COURSE IN HINDI    • EXCEL FOR BEGINNERS | EXCEL COMPLETE COURS...   #finalisationofaccounts #skillshort #cacsrupajaindaga Follow us on