Tally Lecture 3 || Golden Rules of Accounting

Beginner-Friendly Lecture 3 Note in clear English for the Alien Institute of Computer

🧠 Alien Institute of Computer

📘 Tally ERP 9 – Lecture 3 Notes

Topic: Golden Rules of Accounting

🏁 Introduction

In the last lecture, we learned:

  • What is Tally?

  • What is Accounting?

  • Three types of Accounts:

    1. Personal Account (People or Companies)

    2. Real Account (Things we can touch like Cash, Phone, Table)

    3. Nominal Account (Profit, Loss, Expenses)

Now let’s learn the Golden Rules of Accounting!
These rules help us know what to write as Debit and what to write as Credit.

✨ Golden Rules of Accounting

1. Personal Account Rule

👤 "Debit the Receiver, Credit the Giver"

🔹 If someone is receiving something → we Debit
🔹 If someone is giving something → we Credit

Example:
You gave ₹5000 to your friend Mohan.

  • Mohan is receiving money → Debit

  • You are giving money → Credit

2. Real Account Rule

📦 "Debit What Comes In, Credit What Goes Out"

🔹 If something comes into the business → we Debit
🔹 If something goes out → we Credit

Example:
You bought a new computer for the office.

  • Computer comes in → Debit

  • Cash goes out → Credit

3. Nominal Account Rule

📊 "Debit All Expenses & Losses, Credit All Incomes & Gains"

🔹 All expenses and losses → Debit
🔹 All incomes and profits → Credit

Example:
You paid ₹2000 for Rent.

  • Rent is an expense → Debit

  • Cash goes out → Credit

🧠 Easy Memory Tips

  • 💸 Expenses = Debit

  • 💰 Income = Credit

  • 🎁 Receiver = Debit

  • 📤 Giver = Credit

  • 🎒 Thing Comes = Debit

  • 🏃‍♂️ Thing Goes = Credit

✅ Real-Life Example

Example:
You (as a student) go to buy a mobile phone for your computer class.

You pay ₹5000 in cash.

➡️ What happens?

  • Mobile comes in → Real Account → Debit

  • Cash goes out → Real Account → Credit

🧪 Practice Activity

🎯 Problem:

Rahul gave ₹3000 to pay the electricity bill.

➡️ What happens?

Answer:

  • Electricity bill = Expense → Debit

  • Cash is paid → Credit

📌 Final Tip:

When doing Tally entries, always ask:

  1. What kind of account is it? (Personal / Real / Nominal)

  2. Is it receiving, giving, coming in, going out, expense or income?

  3. Use the right rule!

📚 This note is part of the beginner Tally course at:
Alien Institute of Computer
Making Accounting Easy for Everyone

Comments

Post a Comment

Popular posts from this blog

HTML

1. Hello World Program         <! DOCTYPE html >         < html >         < head >         < title > Hello Page </ title >         </ head >         < body >         < h1 > Hello, World! </ h1 >         < p > This is my first HTML program. </ p >         </ body >         </ html > 2. Simple Web Page with Headings     <! DOCTYPE html >     < html >     < head >     < title > Heading Example </ title >     </ head >     < body >     < h1 > Main Heading </ h1 >     < h2 > Sub Heading </ h2 >     < h3 > Small Heading </ h3 >     </ body ...
Read more

MS Excel

Image
 MS Excel    Type Serial Number in Seconds Autofit Day 1 to Day 365 in Excel. Formula: = "Day "sequence(365,1) Merge First name & Last Name:  i. First write Full Name and Manually in the Full Name Box ii. Then in the Second box Press CTRL + E, Done  How to write Automatically Date in Excel Show Today Date on Excel: =today() Get Date format: CTRL + Shift + #  Design Below Table on Excel Design the Below Table on Excel: Design the Below excel Table:
Read more

CSS

 1. Colored Headings and Paragraph     <! DOCTYPE html >     < html >     < head >     < title > Colored Text </ title >     < style >         h1 {         color : red ;         }         p {         color : green ;         }     </ style >     </ head >     < body >     < h1 > This is a Red Heading </ h1 >     < p > This is a Green Paragraph </ p >     </ body >     </ html > 2. Centered Text     <! DOCTYPE html >     < html >     < head >     < title > Centered Text </ title >     < style >         h2 {         text-align : cen...
Read more