UNIT
–
I
LESSON
–1:
TALLY FEATURES
CONTENTS
1.0
Aim and Objectives1.1
Introduction
1.2 Tally User Classification1.2.1 Single user
-
Silver
1.2.2
Multi user
– Gold1.3 Tally Activation Form1.4 General features1.5 Accounting feature1.5.1 Comprehensive accounting system1.5.2 Categorization of account1.5.3 Ledger group administration1.5.4 Audit trail, Drill down display1.5.5
Extracting re
ports1.5.6 Bank reconciliation1.6 Inventory features1.6.1 Stock group, category and classification1.6.2 Physical stock position1.6.3 Stock transfer, adjustments1.6.4 Multiple godowns, stock evolution1.6.5 Multiple rate price lists1.6.6 Actual bill quantity1.6.7 Tracking through receipts/delivery notes1.7 Accounting and Inventory management1.8
Let us sum up
1.9 Points for discussion1.10
Check your progress1.11
Lesson
-
end activities
1.0 AIM AND OBJECTIVES
In this
Unit
we
will discuss the origin and features of Tally accounting software and the
Accounting and Inventory features. After going through th
is
unit, you will be able to,
i.
Describe Origin of the Tally Division
ii.
List down the User Classification
iii.
Explain Co
mprehensive Accounting System
iv.
Discuss Accounting and Inventory Management System
1.
1
INTRODUCTION
Tally is versatile and massive software package. It is used by various types of trade and
industry. Tally Software business was set up in 1986 by late
S.S. Goenka, who was the founder
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1
of the company Peutronics Private Limited., Bangalore. He
mentors
his son Bharat Goenkar in
creating software that would handle the financial accounts for his business. Bharat Goenkar
spends a lot of months to develop path breaking technology. Tally is user friendly software usedto solve all the complicated accounting structure.Bharat Goenkar is the original architect and programmer of the Tally Accounting systems
and also developer of the “No-Code” concepts of accounting entities. Tally is a globally
recognized name with 2 million users in over 90 countries experiencing the “Power of
Simplicity”. This value is reflected in innovative, uncomplicated and customer
-centric approach.Tally recognizes its own format in ASCII (American Standard Code for Information
Interchange) from which data can be imported into Tally. To export your database file
application to tally, you have to export data in tally acceptable format in ASCII. The milestonestatement of the Tally division is “Continuously doing the right thing”.
1.
2 TALLY USER CLASIF
ICATION
Tally ies (
i
ntegrated
e
nterprise
s
olution) 7.2 provides you with two specific classification
Licensing. They are
Ø
Tally Silver for Single –User
Ø
Tally Gold for Multi
-
User
1.
2 .1
TALLY SILVER FOR SI
NGLE
-
USER
The single-
user Licensing allows the consumption of Tally on only one computer with an
option of activating it
online
or
offline
. However, you can use the same Tally license on anothercomputer, by
granting
the license acti
vated on the first and reactivating it on the other.
If you are
an Offline user, you can take a request file to a computer, which has Internet connectivity andactivate your copy of Tally easily.
1.
2.2 TALLY GOLD FOR MULTI
-
USER
The multi-user Licensin
g feature facilitates the use of Tally on any number of computersconnected to a local area network (LAN) with a provision of activating the license online or
offline.
However, the method of
activation is no different from the one followed in Single User
licensing system.
After the successful installation of multi-user license on the License server,
you can have Tally start when Windows starts and run as a service in the background. The
License clients may install and use Tally later on.
1.
3
TALLY ACTIVATION FORM
Activation Form
The first time you run Tally after installation, the Activation Form dialog window will bedisplayed in both Single User and Multi User licensing systems.
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2
Enter your
Serial Key
and
E
-
mail Id
(If yo
u are connected to Internet). Else, press
Esc
or
Ctrl+Q
to quit this form.(if you are not connected to Internet)
1.
4
GENERAL FEATURES
i.
The
new option directory have been introduced to specify Data Directoryin the Company Creation Screen.
ii.
To keep data for one company in one drive/ directory
iii.
Tally lock storage device is used to share the information quickly
iv.
Tally vault is used to keep the data in encrypted format instead of Normal formv.
All the profitability reports, invoice wise reports, item wise reports , godown wisereports are summarized easily
vi.
Display all vouchers for a grouping method
vii.
Income and expenditure statement also available to view Profit and loss account
viii.
Using the Tally Defined Language, we customize the user friendly environmentto the organization.
ix.
Tally is availability on windows 95, 98, XP, 2000, NT and Linux. This software is runon single personal computer, LAN and WAN. If on a Network supports access via anycombination of platforms.x.
Tally is now Web Enabled. While working with tally you can browse by clicking the
browser button
1.5
ACCOUNTING FEATURE
Accounting has been defined as the art of recording, classifying and summarizingmonetary money transaction in a significant manner
. Tally maintain ledger wise balance and
display
net debit or credit balance for a ledger. Using Reverse journal to make transient journalvouchers to get intermediate Profit and Loss and Balance sheet. Tally offers numerous optionsfor interest calculation. While simple mode meets need of average users, advance mode is meantfor users having complex requirement like penal interest.
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