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Tally Prime Exercise 5

The document is a payroll exercise note that outlines key payroll concepts and provides a sample payroll register for a business. It defines payroll as an employee's salary management system including wages, bonuses, deductions, and allowances. It then provides a sample register for April and May 2022 for a business owner, Mr. Gulabchand, and the employees he hired in May - an accountant manager, sales manager, and production manager. It lists their pay structure including basic pay, overtime, travel allowance, dearness allowance, house rent allowance, and other deductions.

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Abhishek Raj
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337 views

Tally Prime Exercise 5

The document is a payroll exercise note that outlines key payroll concepts and provides a sample payroll register for a business. It defines payroll as an employee's salary management system including wages, bonuses, deductions, and allowances. It then provides a sample register for April and May 2022 for a business owner, Mr. Gulabchand, and the employees he hired in May - an accountant manager, sales manager, and production manager. It lists their pay structure including basic pay, overtime, travel allowance, dearness allowance, house rent allowance, and other deductions.

Uploaded by

Abhishek Raj
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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Tally Prime Exercise Note PDF

What is Payroll?
The administration of the financial record of employees' salaries, wages,
bonuses, net pay, and deductions.
Payroll is an employee’s salary management system like:
TA (Travelling Allowance)
DA (Dearness Allowance)
HRA (House Rent Allowance)
Overtime
PT (Professional tax)
EPF (Employees' Provident Fund)
Canteen Deduction
Bonus
Advance Salary Deduction

April 2022
1 1-4-2022 Mr. Gulabchand started a business with cash Rs. 500000.
2 8-4-2022 Mr. Gulabchand deposited cash Rs. 400000 in to HDFC Bank.
3 18-4-2022 Mr. Gulabchand purchased furniture of Rs. 12000 and AC of
Rs. 26500 and payment made by cheque.
4 25-4-2022 Mr. Gulabchand paid cash Rs. 1200 for Stationary expenses.

1
May 2022
5 1-5-2022 Mr. Gulabchand appoint the following employees.
1. Manoj Verma as accountant manager
2. Rahul Rai as sales manager
3. Pooja Verma as production manager
Their pay structure is as shown in the following table.
Pay Head Manoj Verma Rahul Rai Pooja Verma
Basic Pay Rs. 8000/Month Rs. 7000/Month Rs. 6000/Month
Overtime Rs. 100/Hrs. Rs. 50/Hrs. Rs. 80/Hrs.
TA Rs. 800 Flat per Month
DA As per law on current earning totals
[<20000 (5%), <40000 (6%), else (8%)]
HRA 20% of Basic Pay
Bonus As User defined Value
Canteen Rs. 600 Flat per month
Deduction
Professional Tax As per law on current earning totals
[<5000 (0), <8000 (60), <10000(100), <15000(150) else (200)]
EPF Deduction As per law, 12% on Basic Pay

1. Create Employee Category

2. Create Employee Group

2
3. Create All Employee

Similarly for Rahul Rai and Pooja Verma


4. Create Unit

3
5. Create Attendance/Production Type

4
6. Create Pay Head

5
6
7. Alter Define Salary

7
8. Alter Define Salary

8
6 31-5-2022 Company adjust the salaries of employee for July month on
the bases of present as per given below and paid salary by
cheque.
Name of Employee Absent Overtime
Manoj Verma 3 5 Hrs
Pooja Verma 2 7 Hrs
Rahul Rai 2 8 Hrs

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