Unit 6 – Transactions 171
ü Sale / Purchase Account data field appears in Sale / Purchase voucher only if the Sale / Purchase Type selected in voucher has Specify in Voucher option enabled in it.
ü With Item-Wise Sales Tax and Item-Wise Tax Information window, you can specify the tax rate individually with each item used in voucher.
ü You can specify the Form Issued / Received Amount in the ST Form Details window that appears in various vouchers.
ü Journal voucher is basically entered for the entries that cannot be classified as sale / purchase, payment / receipt and so on. For example, entry for Depreciation charged on fixed assets, entry for salary paid to the employees and so on.
ü Contra voucher is entered for entries that involve only cash or bank accounts.
ü Debit / Credit Note vouchers are raised for a party for reasons other than invoice sent to the party or received from the party. It denotes the amount to be taken / given from / to the party for various reasons.
ü Stock Transfer voucher records the movement of goods from one Material Centre to another.
ü Form Issued / Received vouchers are entered when the ST Form is issued / received to / from the party.
ü By creating different voucher series for a voucher type, you can set different voucher settings for a single voucher type.
ü Using Vouchers Configuration option, you can define the settings for automatic round off of the bill amount in advance.
Exercise
1 . Voucher Numbering for a series can be:
a) Automatic c) Not Required
b) Manual d) All of the above
2 . We can add prefix or suffix to a voucher number if numbering type is:
a) Automatic c) Not Required
b) Manual d) All of the above
3 . Sale Type used for entering separate tax rate with each item is:
a) VAT Multi Tax c) VAT 1% (R)
b) VAT 5% (T) d) VAT Exempt
4 . In a voucher, existing Short Narrations can be picked by pressing:
a) F4 key c) F3 key
b) F12 key d) Enter Key
5 . Occurrence of Form Receivable / Issuable window in a voucher is dependent on:
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a) Party
c) Sale / Purchase Type
b) Series
d) Material Centre
6 . Occurrence of Bill-by-Bill Adjustment of Amount window in a voucher is dependent on:
a) Party
c) Sale / Purchase Type
b) Series
d) Material Centre
7 . Three methods used in Bill-by-Bill Adjustment of Amount window are:
a) Create / Adjust/Append
c) New Ref / Adjust / Concatenate
b) NewRef / Adjust / Append
d) Enter / AutoAdjust / Append
8 . Data Entry of Payment / Receipt voucher can be done using:
a) Single Entry System
c) Both Double and Single Entry System
b) Double Entry System
d) Depends upon Features and Options
9 . In Single Entry System of entering Payment voucher, you need to specify:
a) Cash & Bank accounts
c) Payment Mode and affected accounts
b) Accounts debited / credited
d) All of the above
1 0
. Debit and Credit amount in a Payment voucher should:
a) Always Match
c) Not be less than 1
b) Not be in Decimal
d) Both a & b
1 1
. In the Payment voucher, VAT Adjustment Details window appears, if:
a) VAT account is debited
c) Name of the account debited is VAT
b) VAT is enabled in the Company
d) All of the above
1 2
. Which of the following is a Contra entry?
a) Cash deposited in Bank
c) Cash withdrawal from Bank
b) Bank to Bank transfer
d) All of the above
1 3
. If goods are purchased against C form then:
a) C form is received
c) Can be received / issued based upon Purchase Type
b) C form is issued
d) None of the above
1 4
. Number of Material Centres specified in Stock Transfer Voucher are:
a) Two
c) Four
b) Three
d) One
1 5
. Stock Updation Date can be entered for:
a) Account Voucher
c) Dual Vouchers
b) Inventory Voucher
d) Both a & b
1 6
. VAT Journal voucher can be entered for:
