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Unit 5 – Masters 69

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Unit 5 – Masters

69

Freight and Forwarding Charges

Furniture and Fixture

Legal Expenses

Local Sales Tax / VAT

Miscellaneous Expenses

Office Equipments

Office Maintenance Expenses

Office Rent

Plant & Machinery

Postal Expenses

Printing and Stationery

Profit & Loss

Purchase

Rounded Off

Salary

Salary & Bonus Payable

Sales

Sales Promotion Expenses

Service Charges Paid

Service Charges Receipt

Service Tax

SHE Cess on Excise

SHE Cess on Service Tax

SHE Cess on TDS

Staff Welfare Expenses

Stock

TDS (Advertisement)

TDS (Commission)

TDS (Contractor)

TDS (Interest)

TDS (Rent)

TDS (Salary)

Telephone Expenses

Traveling Expenses

Water & Electricity Expenses

Out of the 56 default Account masters, following five are pre-defined Account masters:

70

Cash

Profit & Loss

Purchase

Sales

Stock

è Predefined Account masters are those accounts, which are necessary for maintaining books of accounts. Without these accounts, you cannot maintain accounting aspect of business. In BUSY, names of Pre-defined Account masters are reserved names i.e. these names cannot be used to create a new Account master or to rename an existing master. For example, Cash is a pre-defined Account master. You can rename the account to Cash-in-Hand but you cannot create a new Account master with the name Cash or rename any existing Account master to Cash. Thus, you can only rename the pre-defined Account masters. You cannot delete predefined Account masters. For other default Account masters, you can modify or delete them as per your convenience.

Let us now start creating an Account master. To create an Account master, you need to click the Administration à Masters à Accounts à Add option. On clicking the Add option, an Account Master

– Add window appears. In the window, you can enter name of the account to be created and can specify other related details. Given here is a screenshot of Account Master – Add window.

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