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WHAT IS TALLY?Tally is accounting software or an accounting package. Tally package was developed by “Tally solution pvt ltd” in 1988, which was formerly known as “peutronic pvt ltd”. It is India’s most popular accounting software. It is simple and most popular and powerful management software to handle transaction functions such as, financial accounting, and inventory management, sales &purchases etc.
Versions of tally:• Tally 4.5 • Tally 5.4 • Tally 6.3 • Tally 7.2 • Tally 8.1 • Tally 9.0 • Tally 9.0 with ERP
Terms associated with tally:ACCOUNTING:-Accounting is the analysis and interpretation of book keeping. Accounting is process of identifying, classifying, summarizing, recording of financial transactions.
Accounting basically involves identification, analysis, recording, classifying, and summarizing, interpreting and communicating information regarding business transactions, interested persons. Its features are: 1. Identification and recording of business transactions and events. 2. Summarization and interpretation of accounting information. 3. Communicating the information to the interested persons such as investors, creditors, owners, government, research scholars, tax authorities etc. Accounting can be done in two ways: 1. Manual Accounting - Done by clerks or accountants with a lot of books and registers. (Without using computers) 2. Computerized Accounting - Doing the accounting work with the help of computers (Accounting soft ware’s such as Tally, Peech Tree etc) Transactions are posted in Tally software so that we get processed accounting information instantly in the form of statements, graphs, ratios etc
TRANSACTION:-Any exchange of goods or services for money is called transaction. It may be cash transaction or credit transaction. GOODS & SERVICES:-It is the article in which business deals. ASSETS:-An Asset is any own physical object (tangible) or right (intangible) having a money value. In other word, assets are economic resources which are owned by a business and from which future economic benefits are expected to flow to the enterprise. LIABILITY:The term liability includes to an amount owing by one person
(a debtor) to another (a creditor) payable in money, goods or services, liabilities are financial obligation to outside parties.
DEBTOR:-The person from whom amounts are due for goods sold or services rendered or in respect of obligation is called debtors. The debtors are collectively known as “sundry debtors”. CREDITORS:-The person to who amounts is owed by the enterprise on account of goods purchased or service availed or in respect of contractual obligation called creditor .the creditors are collectively called “sundry creditor”. JOURNAL:-Journal is book of prime entry. It is used for recording of all transaction and event of business entity in the first stage. LEDGER:-The transactions recorded in the journal are transferred in a separate book called “ledger”. In this book, a separate account is opened and maintained for each item.
GOLDEN RULES OF ACCOUNTING:-
VAT @12. agricultural and industrial inputs come under 4% vat rate.Real a/c Personal a/c What comes in What goes out The receiver The giver Nominal a/c All expenses & losses All incomes & gains VAT (value added tax):It is the amount of tax that is added to the main value of the product.5%. INPUT VAT:-This is tax paid on the purchases OUTPUT VAT:-This is amount charged on sales. VAT @1%:-The specific category of goods like gold. The vat can be two types. Input vat and output vat. silver is under 1% vat rate.5%:-The remaining commodities are under the general vat rate 12. . VAT RATES:VAT @4%-The largest no of goods like medicine and drugs.
Tally. With an ideal combination of function. Tally Integrator. control and customizability built in.ERP 9 has been designed with you in mind. effective software products and Tally. Support Centre… .Tally. an integrated support centre and security management. all focused on delivering peace of mind.ERP 9: • Powerful remote capabilities that boost collaboration • Easy to find qualified personnel • Easy to customize • Low cost of ownership via quick implementation. excise etc. At Tally. It is a complete product that retains its original simplicity yet offers evolved capabilities like statutory processes.ERP 9 makes life a lot easier. audit & compliance services. Tally. payroll. even across locations.ERP 9 .Overview You bank and pay utility bills from home. round-the-clock. It's also quick to install and allows incremental implementation-a novel capability that lets you activate just as many of its functions when required. Tally. CA and other professionals. we have a hard-earned reputation for empowering businesses with stable. in any place. Powerful connectivity makes information available with your staff. why not do your business accounts? Or call up a stock status report and print a copy from wherever you are? Tally. Whatever the demands.ERP 9 has all the features required for high-performance business management including remote access. Advantages of Tally.ERP 9 permits business owners and their associates to do more.ERP 9 takes this further.
ageing. also known as bookkeeping. Let us look at the some of the 'needs' for which businesses maintain books of accounts: • To fulfill legal requirements .manage receivables & payables. is the recording and classifying of financial transactions into the books of accounts and associated registers. or correcting one • Taxation requirements of all the states of India are available.statutory needs • Keep the business running . not just maintain books of accounts.Functions & Features: Accounting All your accounting requirements are supported.records as per standards and practices • To pay taxes to various bodies . Accounting. bank .. • Keep a watch on the pulse of the organization . cash.. faster and more flexible ways to fulfill your needs. in the prescribed formats • Supporting tasks like reminder letters. There is nothing more that needs to be done . all reports. delayed interest.whether you are inserting a forgotten entry.accounting . all totals & sub-totals are updated instantly. All this to deliver better.to locate the right transaction immediately We have been perfecting this 'simple' recording . A few examples will illustrate: • with the entry of a voucher (this is what we call all accounting transactions) all books of accounts. bank.from over twenty years. And more.key performance indicators • Respond to queries .
and report in any other language (from the languages supported) • Mark vouchers that are draft as 'optional' and convert these to final.keeps your bank books in sync.to limit risk of default and large losses • Budgets .with one button click Financial Management & Controls Tally. even the Balance Sheet.ERP 9 comes with rich features & financial reports that give you the necessary management and control of your business. right to any voucher or filter and search • Data entry in the language of the users choice . A few of these are listed below: • Funds Flow & Cash Flow reports – help you locate bottlenecks • Bank reconciliation .keep tabs on projected expenses against actual • Mark vouchers post dated .reconciliation • One single dashboard to look at all important business ratios • Drill down from any report.these will reflect into the books of accounts only on/after that date . and identify unclear instruments • Customer Credit Limits .
or see reports and make the necessary corrections • Several business exceptions are available (negative stocks. You can use optional.for you to exercise control over these activities • A one-screen business ratios with drill down right up to the transactions .authorized users can mark vouchers as 'audited' and can get to see reports on changes made post audit. negative ledgers) . You can decide one valuation method for the business.helps you with your business forecasting and planning. to aid in recording provisional entries that are useful for interim reports • Multiple inventory valuation. your bankers and for other decisions • Cash balances can go negative .help you to correct course frequently • Item wise & document wise profitability statements to control revenue leakage and inappropriate pricing • Internal audits are supported with audit controls .you can get warned if this is about to happen.• For needs where reports have to consider a transaction that has not happened (say salaries for this month that get paid the next month) vouchers (called 'reversing journals') can be marked to 'disappear' for reports post a specific date • "Scenario" management . and be able generate financial reports using any other valuation method as the statutory method may not be appropriate for your needs. and the name of the person making the change . reversing journals and memorandum vouchers.
to record material conversions • Compound bill of materials support. you'll appreciate the Inventory capabilities in Tally. of any type. manufacturing journals and physical stock journals. You can comprehensively record all types of inventory transactions. wholesalers or traders a small list of features are briefly described below: Manufacturers: • Bill of materials and Manufacturing Journals.ERP 9. All stock movements are fully recorded and maintained in stock registers. using goods receipt notes. to support variations as happens in . for units that contain assemblies • Multiple locations (go downs) • Excise for manufacturers. including all documentation and invoice • Costing for jobs Distributors & Wholesalers: • Multiple price lists.Inventory Accounting & Management If you deal in goods. stock journals. distributors. with effective dates of applicability • Use multiple units of measure (say KG's & grams) • Dual units of measure (say KG's and bags. Developed for all manufacturers. delivery notes.
with integrated forex gain/loss calculations • Physical stock take records to adjust physical vs.buy and sell across the world . actual stocks • Maintain batch & expiry details Tally ERP9 Tally.commodities) Traders: • High speed billing.ERP 9 delivers a rich new set of product functionalities & .and enter this figure manually. to identify slow and non-moving stocks • Invoice profitability reports to keep a pulse on sale • Invoice profitability reports to keep a pulse on sales • Multi-currency transactions . • Stock ageing reports. with support for POS printers • Bar code support • Automatic application of taxes • Service billing & service tax • Integrated sales return in bills • Print bills (and any other document) in the customers language Common: • You can choose to de-link the computed inventory value to automatically appear in your financial statements .
Budgets and Controls. BoM based manufacturing inventory. Finance Management.technological capabilities. Benefits of Tally. Payroll Accounting.ERP 9 installed in educational mode (no need to buy another license). . integrated solution – covering several business aspects of an enterprise. FBT. POS. TDS. Tally 9 – its flagship product (which started as a simple bookkeeping system 20 years ago). Statutory Taxes (Excise. • Access data from anywhere – with Tally. Group Company consolidations. Inventory Management. Cost and Profit Centers. Inventory Accounting.0 almost 12 years ago. VAT. TCS. and other major and minor capabilities. Receivables / Payables. Job Costing. multi-location / multi-currency / multi-unit handling. as an example – and capabilities offer you opportunities to conduct your business in ways not easily possible earlier. For all practical purposes. is today a comprehensive.ERP 9 is an exhilarating experience. etc). • Access your data from a customer’s or supplier’s location to check up on dues and inventory – improve receivables and inventory control. CST. These include. Accounting.ERP 9 Remote Access (New!): This deceptively simple capability to access your data across the world from another copy of Tally. it has served as an ERP for small enterprises since the introduction of Tally 5. Functionalities deliver technology support for more areas of your business – Excise for Manufacturers.
ERP 9 takes full advantage of the connected world that the Internet opens up via an umbrella of services called Tally. Control Centre (New!): Another new capability enables you to manage your license on your own (surrender. re-activate and so on) as well as easily distribute custom codes (TDL’s) and prevent their misuse. you get to see the various queries raised across your organization – which can point out areas where training is required or a process needs to be tweaked. raise your queries to Tally.ERP 9. The capabilities described above are made possible via Tally. (remotely creating vouchers is coming soon) • Authorize your Chartered Accountant to access your data – he can use the Auditors’ Edition of Tally. As can be seen from our roadmap document. your service partner.• Your travelling salesmen can access customer information. over time the list of services available will grow in breadth and depth Excise for Manufacturers (New!) . See responses as well – even via remote access. Integrated Support Centre (New!): From within Tally.NET.NET.NET (New!): Tally. Tally. your Chartered Accountant and others. As an owner.ERP 9 to audit your books as well as offer professional advice and other compliance services. stock position and place orders – improve sales efficiency.
Export & Special Rate transactions • Generation of Rule 11 invoice for Purchase returns • Availing Full / Partial CENVAT Credit for Input and Capital Goods • Reversal of CENVAT Credit • Utilization of CENVAT / Service Tax Credit towards Duty payable • G. Quantum. 7 Challan printing • Maintaining Invoice Register • Maintaining RG1 register • Generating CENVAT Credit Register • Generating ER1 & ER3 returns • Maintaining PLA Register • Excise Computation Report TDS (Updated!) • Single Expenses Ledger for Multiple Nature of Payment .A. MRP) • Tariff (HSN) / Commodity Code creation • Separate Unit of Measure for Excise Reporting • Excise Invoice book • Expense / Income ledger apportioning to calculate Assessable Value • Item wise Duty calculation for different Valuation Methods in a single invoice • Printing Rule 11 invoice • Maintenance & Calculation of duty for Exempt.R.• Multiple Excise Registration (Manufacturer & Dealer) in a Single Company • Item wise Valuation Methods (Valorum.
27. 26Q. 27Q Forms with Annexure(s) • TDS Computation • TDS Outstanding Reports • TDS Exception Reports Statutory Compliance (New! Auditors' Edition) • Identifying process by segregating “Possibly Incorrect” Masters and Vouchers • Reasoning for Possibly Incorrect • No need for 100% verification .195) payments • Reversal of TDS • TDS Challan (ITNS 281) printing • Printing Form 16A • Generate E-TDS • Printing Form 27A • Printing of 26.• Single TDS Duty Ledger for Multiple Nature of Payment • Booking & Deducting TDS in the same voucher • Single TDS deduction for multiple vouchers • Single TDS deduction for Multiple Nature of Payments • TDS deduction on partial applicable value • Retrospective Surcharge deduction • Party wise configuration for Lower / Zero rate • Party wise configuration to Ignore IT / Surcharge exemption Limit • Deduction of TDS on party advance payments • TDS deduction on Non-Resident (Sec.
• Need to concentrate only on Possibly Incorrect • Taxation based in built rules to provide Possibly Incorrect • Taxation based payable & paid information • Taxation based due dates • Random verification of In Accordance Masters and Vouchers • Provision to raise Clarification on Master and Vouchers from clients • Provides facility to record Verification Remarks using Verification Note Tax Audit (New! Auditors' Edition) • Relevant data display as per Form 3CD clause requirement • Instant Statistics on Audit Listings (Audited & Unaudited Vouchers) • Provides the facility to record Audit Remarks using Audit Note • Provision to mark Vouchers for Clarification / Verification from Clients • Separate Statistics for vouchers altered / modified after Audit • Generating audit related Reports & Annexure .
memorandum journals and reversing journals.Accounting Features of Tally. get reports that are classified. Multi-currency Accounting – offers you flexibility of multiple currencies in the same transaction and allows viewing of all reports in one or more currency. Unified Ledgers – integrates your general. debit notes. generate customizable reminders for over dues. adjustment journals. sales and purchase ledgers into a single ledger. cash and funds flows. trial balances. profit & loss statements. for easy management. and aged to your definitions. income and expenses. Complete Bookkeeping – enables you to record all types of transactions including receipts. grouped. and others. Comprehensive Accounting – lets you instantly obtain your balance sheets.ERP 9 Accounting Without CODES – lets you define unlimited levels of classification. Receivables and Payables – enables you to dynamically allocate payments against invoices with reference to due dates. sales and purchases. payments.ERP 9 meets the fundamental criteria set out for EMU handling. with regular names (no more inconvenient account codes). so that you can manage the most complex ledgers with ease. . credit notes. organized in groups. Tally.
Security Control – enables you to define security levels for access control. Ratio Analysis – offers you a bird’s eye view of your company. thereby helping you make the right decision. Powerful Audit capabilities . you can prepare reports that include provisional figures. while making genuine corrections with unparalleled ease. based on a range of key performance ratios. without affecting actual accounts. You can use optional. Invoice. For example: original and revised budgets. reversing journals and memorandum vouchers. to aid in recording provisional entries that are useful for interim reports. Orders. Using automatic reversing journals. you can use optional vouchers to record provisional sales and compare with actual. "Scenario" management – helps you with your business forecasting and planning. Voucher and Cheque Printing – ensures real-time linking of accounts and inventory besides enabling instantaneous generation of documents. Quotations. through a single sheet performance analysis. which can either be printed or mailed directly to the recipient.Payment Performance of Debtors – helps you identify troublesome debtors and persistent late payers. Unlimited Cost/Profit Centers with power project oriented reporting – gives you . Budgeting – gives you unlimited budgets and periods. For example.allows you to track mala fide changes.
with an unlimited classification of analysis criteria. based on certain set criteria or specified dates and time periods. Interest Calculation – enables you to calculate interest on dues. or based on other pre-defined conditions.multi-dimensional analysis and comparisons.ERP 9 Multi-location Stock Control – helps you manage simple single-location. . Inventory Features of Tally.. loans etc. You can also customize the calculation of interest to change after a certain time period. and your own units of measure. with unlimited classification systems for your items. or complex multi-location stocks.
Vouchers include goods receipt notes. Comprehensive Order Status Reports – ensures that you stay on top of your . Comprehensive Recording of Stock Movement – lets you comprehensively record all types of inventory transactions. as well as stock in hand of substitutes. irrespective of the units of measure. Management Reports – gives you party-wise details of goods bought and sold and through movement analysis.Multiple-location Warehouse Management – helps you track stock movement. delivery notes. stock journals. Stock query is a unique single sheet report that gives you information on stocks at different locations. when you buy in tons and sell in kilograms or buy in crates and sell as pieces. Flexible Units of Measure – helps you track stock. helps you identify customer buying patterns. by generating reports such as ‘batch-wise’ reports and ‘expiry date’ based details. Batch Support – helps you exercise stock control at the batch level. All stock movements are fully recorded and maintained in stock registers. manufacturing journals and physical stock journals. thus helping you to dispose of old stocks quickly. For example. using the inventory voucher forms. allowing you to decide which warehouse to ship from depending on stock position. Stock Ageing – identifies stocks based on age.
You can also specify re-order levels in absolute quantities. or design a completely different layout. You can choose from different invoice formats and adopt them as your own. . e-mail or publish sales invoices that are generated directly from Tally. Multiple Price Levels . You can also get party-wise or item-wise details of orders outstanding and/or fulfilled. ‘Last in Last out’. Single sheet reports give you details of current stocks.allows user-defined Reorder levels for any given period. or shortfalls. export.ERP 9. Invoicing – You can print.stocks order position. Multiple Stock Valuations – allows you to choose from different types of valuation methods. among others. if any. including ‘First in First out’. orders due for receipt. invoicing and accounting maintaining the trail right through. This comprehensive invoicing system allows flexible handling of charges and taxes. ‘Standard’. enabling faster and error-free invoicing and data entry. ‘Age Cost’. orders due for delivery. thus helping you avoid excess stocking of items while ensuring that you don’t run out of essential stock.allows you to pre-define item rates for specific categories of customers. or based on previous consumption. Sales & Purchase Orders – enables you to record orders with a complete cycle of recording and allocation through inventory deliveries. Reorder Levels .
Concurrent Multi-lingual Capability – allows you to expand your business beyond geographical boundaries without worrying about language barriers. view reports in another language and send invoices to your customers in yet another language. You can maintain your accounts in one language. all at the press of a button TALLY START UP SCREEN .
HOW TO START:Press alt+w alt+I (silver edition) single user How to create a company:Gateway of tally company info create company .
after filling the details it will show a company in main screen .i. ..In this page.e. a company can be created by filling up the details given .
How to create a ledger:Tally main gateway of tally accounts info. Ledger create .
only bank transactions are entered .VOUCHERS:Contra voucher(F4) Payment voucher(F5) Receipt voucher(F6) Journal voucher(F7) Sales voucher(F8) Purchase voucher(F9) Contra voucher:-In contra voucher.
only cash payments are entered Receipt voucher:-In this voucher. only cash receipt are entered .Payment voucher:-In payment voucher.
Journal voucher:- .
SALES VOUCHER:- .
PURCHASE VOUCHER:- INVENTORY INFO. Stock group creation:Gateway of tally inventory info stock group single create .
Creating multiple stock groups Gateway of tally inventory info stock group multiple stock groups create .
Display or Alter a stock group Gateway of tally inventory info stock group single/multiple display or alter Creating a stock item Gateway of tally create inventory info stock item single/multiple stock item .
Creating multiple stock items:Gateway of tally inventory info multiple stock item create .
Stock journal:- .
stocks are transferred from one place to another. .In stock journal voucher. VAT (value added tax):Process of vat calculation• Set ‘yes’ in vat option in F11 feature • Create ledger input vat and output vat • Set yes in vat option of sales ledger and purchase ledger.
Voucher entry of vatIn purchase voucher .
In sales voucher PAYROLL:• Employee group creation • Employee creation • Pay heads Employee group creation:- .
Employee creation:- .
Pay heads:- .
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