Skip to content
← Information Technology

Information Technology · Class 12 Commerce

Ch 3Computerised Accounting with GST — Class 12 Information Technology, concept-first.

Every business, big or small, has to keep a record of the money that flows in and out of it — what it sells, what it buys, whom it owes, and who owes it. For centuries this was done by hand, in bound books of account, with a pen and a ruler.

13

Q&A

4

Concepts

Not available

Exam weightage

Start learning — read this chapter →

Key concepts

Hover a concept to preview it and jump to its most relevant Q&A.

Accounting Software — Features and Structure

Accounting software is a program that turns recorded transactions into books of account and financial statements.

Most relevant Q&A

Start with this concept →

Chapter contents

The NCERT structure, section by section. Open a section to see its questions, then read the concept-first solution.

Overview

Every business, big or small, has to keep a record of the money that flows in and out of it — what it sells, what it buys, whom it owes, and who owes it.

1

Manual vs Computerised Accounting

Accounting is the process of recording, classifying, summarising, and interpreting a business's financial transactions. It can be done in two ways.

2

Features of Accounting Software

Accounting software is a program built to record business transactions and turn them, automatically, into books of account and financial statements.

3

Ledgers, Groups and Vouchers

Computerised accounting is organised around three ideas: groups, ledgers, and vouchers.

4

Reports Generated by Accounting Software

The real power of computerised accounting shows in its reports. Because every voucher is posted automatically, the software can produce complete, up-to-date books and statements at any moment, without…

5

GST Basics — CGST, SGST and IGST

The Goods and Services Tax (GST) is a single, comprehensive indirect tax on the supply (sale) of goods and services in India.

6

GST in Computerised Accounting — Invoice, Input Tax Credit and Reports

Once a business is registered under GST and its GSTIN is entered in the company setup, accounting software handles GST almost automatically: it applies the correct rate to each item, splits it into CG…

Exercises

+Show 13 questions13 questions
  1. Q1Choose the correct option: In accounting software, a transaction is recorded as a — (a) master (b) group (c) voucher (d) reportFree
  2. Q2Choose the correct option: For an intra-state supply of goods, the GST charged is split into — (a) CGST and IGST (b) CGST and SGST (c) SGST…Free
  3. Q3Distinguish between manual accounting and computerised accounting (any four points).Free
  4. Q4State any four advantages of a computerised accounting system.Preview
  5. Q5Explain the terms: (i) master, (ii) ledger, (iii) group, (iv) voucher, as used in accounting software.Preview
  6. Q6What is GST? State its three components and when each is charged.Preview
  7. Q7A dealer in Pune sells goods worth Rs 40,000 to a customer in Pune. The GST rate is 18%. Calculate the CGST, SGST, and the total invoice val…Preview
  8. Q8A manufacturer in Maharashtra sells goods worth Rs 1,00,000 to a buyer in Karnataka. The GST rate is 12%. Calculate the GST payable and the…Preview
  9. Q9What is Input Tax Credit (ITC)? A trader buys goods for Rs 60,000 and sells them for Rs 90,000, both intra-state at 18% GST. Compute the net…Preview
  10. Q10State any four particulars that a GST (tax) invoice must contain.Preview
  11. Q11List any four reports that accounting software can generate, and briefly state what each shows.Preview
  12. Q12Choose the correct option: Input Tax Credit under GST means the credit of tax paid on — (a) sales (output) (b) purchases (input) (c) salarie…Preview
  13. Q13State any four limitations of a computerised accounting system.Preview