Rome Was Not Built in a Day

10. Accounting from vouchers Cont. aft(prenominal) Palak Shah. chart EXPLAINING THE INTERPRETAITION AND SHOEING THE EFFECTS OF coupon CHART 1 SR. NO. verifier INTERPRETATION WHERE IT IS RECORDED? 1. Our tints memo capital gross revenue save in consider boldness of interchange platter 2 change memo of another(prenominal) party Purchase of goods or assets on change record in assign side of secure funds in accommo leave 3 Credit memo of other party Credit get of goods and assets save in purchase script and journal proper 4 Our credit memo Credit sales of goods save in sales in disseverigence 5 Our account note Purchase return of goods preserve I purchase return book 6 Our credit note sales return of goods save in sales return book 7 Debit note of other party Sales return of goods Recorded in sales return book 8 Credit note of frigid party Purchase return of goods Recorded in purchase return book 9 Receipt issued M nonpareily received in cash or e reallyplacehear out by us Recorded on debit side of cash book 10 Receipt of opposite party Payment made on cash or run down Recorded n credit side of cash book 11 Pay-in slip Cash, cheque or draft deposited in vernacular Recorded on debit side of cash book Recorded on both side of cash book 12 Counterfoil of the cheque Cash withdrawn from ban for office use Recorded on both side of cash book Payment made to creditors Recorded on credit side of cash book 13 write down voucher Expense made by cash Recorded on credit side of cash book, cash Expense made by cheque column Recorded on credit side of cash book, brink column 14 Income tax challan Income tax paid by cheque or cash Recorded on credit side of cash book on cash/bank column 15 Sales tax challan Sales tax paid by cash or cheque Recorded on credit side of cash book n cash/bank column 16 Particulars of isotropy Regarding bank charges Recorded on credit side of cash book Regarding wager credited by bank Recorded on debit side of cash book Regarding dishonor of cheque deposited Explanation of price 1.Contra Transactions Those proceeding, which atomic number 18 recorded on both the sides of cash book, debit and credit, be cognise as contra transactions. 2. Bank charges bank provides service to our business. Receives money on our behalf, collects payments of outstations cheques and makes payment to outstation traders on our behalf. Bank takes care of our money. Therefore, bank charges some charges as remuneration for providing such(prenominal) type of various services. It is known as bank charges. 3. Expenses for assets When any asset is purchased, the expenses on purchase of assets are also debited to the asset account and it is recorded in asset account after adding such expense. CHART 2 pic Cash purchase cash sales payment to creditors Payment of bills payables Received collection Received for bills due Income received Expenses paid Cash bro ught in as capital Drawings by means of cash Loan/advances received Loan/advanced repaid Bank interest bank charges cash deposited in bank cash withdraw from bank Credit purchase of goods - Recorded in purchase goods Credit sales of book - Recorded in sales goods Purchase return of book - Recorded in purchase return goods Sales return of book - Recorded in sales return goods Bills payable accepted - Recorded in bills payable goods Bills receivables received - Recorded in bills receivable goods some other transactions - Recorded in journal proper etc. CHARACTERISTICS OF VOUCHER 1. The name of the party who is preparing the voucher is written on the top of the voucher and the name of the party to whom the voucher is given below. 2. From the voucher, the information like date on which transaction has interpreted place its amount, type of transaction, terms and conditions of transactions etc are obtainable. 3. Voucher gives an idea about the parties between w hom the transactions has taken place. 4. Voucher also gives an idea about weather the transaction is cash or credit? 5.If we hurt prepared the voucher, its original imitation is given t the opposite party and its duplicate is kept with us. 6. If the original copy of the voucher is with us, it shows that the opposite party has prepared the voucher. 7. For transactions with bank, the printed vouchers are available from the bank in which we just need to fill the particulars. 8. In pry of amount paid, if it is not possible to obtain the voucher or know from the opposite party, the trader himself prepares the voucher and takes the signature of the opposite party or the authorized person of steadfast regulates the signature sanctioning the voucher. Types of transactions Cash transactions Recorded in cash book Credit transactions Recorded in subsidiary bookcapital of Italy Was Not create in a DayThere were things in the world which take a considerably large term to mature. It is the nature of a caper that determines the length of time it would take to be accomplished. Some people are in the habit of getting impatient, when a task takes a junior-grade too long to complete. They do not understand or quite an coyeniently forget the nature of the task and start losing heart. This idiom is used to tell the impatient people that majuscule things are not done or accomplished everywherenight. Such things get long time, patience and continuous effort. Rome is the name of a city in Italy. At one time it was the capital of the Ro military man Empire.It was the citadel of the Roman Catholic Church. It was Roman emperor Augustas who is considered to be the real builder of Rome. Rome consisted of only a few hamlets when Augustus came to the throne. It took about 40 years for him to transform the shell of Rome into a metropolis, adorned with beautiful mansions, theatres, temples, public baths and many other public buildings. It took a long time for this city to d evelop into a grand city of the world. In the same way every all- Copernican(prenominal) task takes some time to be completed. There are both aspects of the matter. First, all big or important things take time to be accomplished.Secondly, one should never grow impatient if some operate on takes a long time. What is required is perseverance and not haste. A keep mum look at the maxim will make it evident that the password Rome represents a grand or noble or a monumental task. And the words in a daylight indicate the bridge of time. The position is now very clear that monumental or great things cannot be done in haste, they require not one day but a long period of time. It is an advice to those who after having put in a little accomplishment or labor want minute return immediately. They would be committing a mistake by doing so.It is again a lesson for those who want to do big or great things in aliveness that they should be prepared to work rocky continuously for a long time without losing patience. Patience is crucial in this process. Impatience will hire you nowhere. It will waste the labor or efforts you have already put in. Therefore, it is advisable to learn this lesson and translate it into action. One should have a firm determination and should sincerely work hard. One cannot achieve success unless one puts in the required amount of work in a stipulate period. The period of time is as important as the amount of labor.Therefore, the get word to the accomplishment of any big task is labor, patience and perseverance. Suppose a man is not keeping good health. He wants to improve his health. tail assembly any exercise, medicine or tonic improve his health over night ? The answer is obviously no. For improving his health the man will have to take regular exercise, and medicines for a period of time, out front he can let any improvement in his health. If after a few days he feels discouraged, because he finds that exercise and medicines have d one no good to him it is a fit case when he should be given this piece of advice.Similar is the case of a scholarly person who wants to obtain distinction in his annual examination and works hard for a few days, but getting on better result in the terminal examination he loses heart. Regular hard work for a considerably long period of time will go through a distinction in the annual examination. No one is difference to achieve the result without putting in required in-put of labor join with time. Patience is the essence of it. The Taj Mahal is a monumental architecture. It took decades for its building. Shah Jehan got this finest piece of architecture constructed with great patience and with huge expenditure over a long twain of time.It is because of these factors that the Taj occupies a place of pride in India. In many cases we find men becoming impatient to pluck the fruits of their labor instantaneously or overnight. They are like that foolish farmer who sowed the seed and w ent the next sunrise with a sickle in his hand to reap the crop. slap-up undertakings require hard work over a long period of time. It is childlike either to desire a result without sufficient work for a certain period of time or to give up the approach after some time.A careful analysis of several important achievements will be enough to convince anybody that perseverance plays a very important role in the successful accomplishment of any task. Look at the strenuous work put in by those who achieved success in any great adventure or undertaking. They would have never succeeded without patience. Great discoverers have shown wonderful tenacity of purpose and commendable endurance in their pursuits. They never showed any sign of discouragement even after consequent failures.Had they been hasty or had they show signs of dashing hopes, they would not have been remembered today with such great honor. We are all aware of the perseverance that enabled Tensing reach atop Everest. Milton took a quarter-century of years to complete his great epic. Tulsidas took several years of uniform labor in compiling his Ramcharit Manas. This maxim serves as an inspiration to hard and continuous work for achieving great tasks or for performing great adventure. It keeps disappointment away from you. It also tells you of the value of sustained effort. Thus it hands over the key to success in life.