Core Accounting
26 lessons covering double-entry, ledgers, adjustments, BRS, final accounts, and payroll — taught using Sunrise Retail's real transactions.
This is the foundation course. Twenty-six lessons that take you from the very first journal entry to a complete set of final accounts plus payroll — all using Sunrise Retail Pvt Ltd's actual books for FY 2025-26.
What you'll learn
- The logic of debit and credit, and why double entry is self-checking
- Setting up groups, ledgers, and opening balances for a real business
- Day-to-day entries: cash, contra, journal, purchase, sales, returns
- Trade discount vs. cash discount — when each one is recorded
- Bank Reconciliation Statement from first principles
- Cost centres, manufacturing journals, and Bill of Materials
- Year-end adjustments and final accounts (Trading, P&L, Balance Sheet)
- Salary, PF, ESI, and TDS in a payroll cycle
Course map
| # | Lesson | What you learn | Time |
|---|---|---|---|
| 1 | Introduction to Accounting | What accounting is, why it exists, the accounting equation | 30 min |
| 2 | Accounting Entry Systems | Single-entry vs double-entry, books of accounts | 30 min |
| 3 | Double-Entry System | Debit, credit, golden rules, T-accounts | 35 min |
| 4 | Accounting Principles | GAAP, matching concept, accrual vs cash | 30 min |
| 5 | Adjustment Entries | Prepaid, accrued, depreciation, provisions | 35 min |
| 6 | Computerized Accounts | Moving from manual to software-based bookkeeping | 30 min |
| 7 | Groups & Ledgers | Chart of accounts, ledger creation, grouping logic | 30 min |
| 8 | Predefined Groups | Default Tally groups, how they map to the balance sheet | 30 min |
| 9 | Accounts-Only Mode | Using Tally without inventory for a service business | 30 min |
| 10 | Contra Entry | Cash-to-bank and bank-to-cash transfers, petty cash | 25 min |
| 11 | Double-Entry Practice | Extended practice set on Sunrise Retail's April transactions | 40 min |
| 12 | Accounts with Inventory | Enabling inventory, stock groups, units of measure | 30 min |
| 13 | Credit Purchase & Sales | Party ledgers, sundry debtors and creditors, credit terms | 35 min |
| 14 | Purchase & Sales Returns | Debit notes, credit notes, return accounting | 30 min |
| 15 | Godown, Stock & Category | Multi-location inventory, stock categories, batch tracking | 30 min |
| 16 | Trade Discount | How trade discount reduces the invoice value — not a ledger entry | 25 min |
| 17 | Cash Discount | Discount allowed/received, how it differs from trade discount | 25 min |
| 18 | Interest Calculation | Simple and compound interest on outstanding balances | 30 min |
| 19 | Purchase & Sales Order | Order → delivery → invoice flow, outstanding order reports | 30 min |
| 20 | Multiple Price Levels | Wholesale vs retail vs distributor pricing for one stock item | 30 min |
| 21 | Bank Reconciliation Statement | BRS from first principles, Sunrise Retail's April bank pass-book | 40 min |
| 22 | Cost Centres | Department-wise P&L, allocating expenses to branches | 30 min |
| 23 | Manufacturing Journal & BOM | Bill of Materials, finished goods, manufacturing overhead | 35 min |
| 24 | Opening Balances | Entering Sunrise Retail's April 2025 opening balance sheet | 30 min |
| 25 | Final Accounts | Trading account, P&L, Balance Sheet — books closed for the month | 40 min |
| 26 | Payroll | Salary computation, PF, ESI, TDS, payroll journal entries | 40 min |
How the case study compounds
Lesson 24 sets Sunrise Retail's opening balances. Lessons 13 onward record live transactions against those balances. Lesson 25 closes the books and produces the final accounts you've been building the whole time. The numbers tie.
How this fits with the other courses
This course is the prerequisite for everything else. Once you understand double-entry, the Tally Prime course shows you the same entries through software. The GST course applies ITC credits you'll first see in Lesson 13 here. TDS and Income Tax both build on the P&L and balance sheet you complete in Lesson 25.
Pick Lesson 1 in the sidebar to begin, or jump to any lesson — every lesson is self-contained and cross-linked.