Submitted By:

Name: Girija Shankar Pattanaik

Exam Roll No: 20ACT047
College Roll No: BC-20-032

Under the Supervision of:

Rajanikanta Khuntia,
HOD, PG Department of commerce

Submitted to:
DEPARTMENT OF COMMERCE DHENKANAL
AUTONOMOUS COLLEGE, DHENKANAL
 EVALUATION OF PRACTICAL RECORD

TOTAL MARK= 25

TOTAL MARKS SECURED=

SIGNATURE OF INTERNAL EXAMINER SIGNATURE OF EXTERNAL EXAMINER

 CONTENT
1. Introduction- Accounting in tally prime

2. Master creation -Accounts

3. Inventory management

4. Voucher creation and order processing

5. Statutory and taxation

6. Payroll in tally prime

7. Income tax Returns (ITR)

8. E verification of ITR
 D E C L A R AT I O N

I, the undersigned hereby declare that the practical

record submitted by me for the partial fulfillment of
course curriculum of the degree Of Bachelor of
Commerce under the supervision of Sri Rajanikanta
Khuntia, HOD, PG Department of Commerce, is my own
piece of work and authentic to the best of my knowledge
and belief.

Date: Signature of the student

Place:
 Company creation
Steps:
• Use short cut Alt+K
• Select create option
• Provide company information

Company Alter (Modify)

Steps:
• Use short cut Alt+K
• Select alter option
• Modify company information
Select Company
Steps:
• Use short cut Alt+F3
• Select the required company from all options
• Press enter
Shut Company
Steps:
• Use short cut Ctrl+F3
• Select the required company to shut from all options
• Press enter

Delete Company
Steps:
• Use short cut ALT+k
• Select the alter option
• Select the company to alter and delete
• From alter window press ALT+D
• Press Y to confirm
 Ledger Creation:
Steps:
• From Gateway of Tally go to Masters option
• Select Create
• From accounting masters option select Ledger
• Provide Ledger name (e.g., SBI A/c -1234567)
• Mention Ledger Group (e.g., Bank A/c)
• Provide other information’s mentioned
• Accept (Ctrl+A)
Alter Ledger:
Steps:
• From Gateway of Tally go to Masters option
• Select alter
• From accounting masters option select Ledger
• Select the Ledger to alter
• Make necessary changes
• Accept (Ctrl+A)
 Ledger Deletion
Steps:
• From Gateway of Tally go to Masters option
• Select alter
• From accounting masters option select Ledger
• Select the Ledger to alter and delete
• Press Alt + D
• Press Y to delete

Multiple Ledger Creation

Steps:
• From Gateway of Tally select Chart of Accounts option from Masters
• Select Ledgers option
• From ledger list window press alt + H
• Select Multi Create
• In multi ledger creation window mention group head (e.g. Bank A/c)
• Mention all the ledgers to be created under the head
• Accept (Ctrl+A)
Multiple Ledger Alter
Steps:
• From Gateway of Tally select Chart of Accounts option from Masters
• Select Ledgers option
• From ledger list window press alt + H
• Select Multi Alter
• Select group
• Modify all the ledgers to be alterd under the head
• Accept (Ctrl+A)
 Location creation

Steps:-

GOT > Masters > Create > inventory Masters > Location

Single Godown Creation Screen

Steps:-
GOT > Masters > Create > Inventory Masters > location.
Stock Group
Stock Group creation:-

Steps:-
Got > Masters > Create > Inventory Masters > Stock Group.
Stock category Creation:-

Steps:-
GOT > Masters > Create > Inventory Masters > Stock Categories

Units Of Measure:-
Simple unit creation:-

Steps:-
GOT > Masters > Create > Inventory Masters > units
Compound Masters Creation:-

Steps:-
GOT > Masters > Create > Inventory Masters > units

Stock Items creation:-

Steps:-
GOT > Masters > Create > Inventory Masters > Stock Items
Company Setup Features:-

Voucher in Tally Prime

View the Pre-Defined Voucher Types in TallyPrime

Gateway of Tally > Chart of Accounts > type or select Voucher Type.
Or, press Alt+G (Go To) > type or select Chart of Accounts > Voucher Type.
Voucher Creation:-

Steps:-

Go to Gateway of Tally >Masters>create> Accounting Masters > Voucher Types.

Contra Voucher:
Short cut : F4

Steps:- GOT > transactions > Vouchers > F4:Contra

The following is the list of contra transactions:
• Cash account to Bank account
• Bank account to Cash account
• Bank account to Bank account
• Cash account to Cash account
Note: ‘Petty Cash’ is an account with a small amount of cash to meet tiny expense
such as courier, refreshments, stationeries etc. Whenever such small expenses are
to be paid, the petty cash account is used and paid from.

To fund this account, the cash is transferred from the main cash account to petty
cash account. This when it is referred to as cash account to cash account
Payments Voucher
Short cut : F5
Payment vouchers are used to record all the payments of the company by way of
cash/bank.
Steps:- GOT > transactions > Vouchers > F5:Payment
e.G Paid salary
Wages paid
Commission paid
Purchase on cash (especially fixed
assets)
payment to creditors
drawings by owner

Receipt Voucher
Short cut : F6
Receipt vouchers are used to record all receipts of the company by way of
cash/bank.

Steps:- GOT > transactions > Vouchers > F6:Receipt

Journal Voucher:
Short cut : F7
Steps:- GOT > transactions > Vouchers > F7:Journal
There are certain transactions that do not fall under any of the vouchers like receipt,
payment, sales or purchase. Such a transaction can be recorded in Journal
Vouchers. It is also known as a adjustment voucher.
Entries made in Journal voucher are :
• buying a fixed asset on credit
• depreciation for fixed asset
• prepaid expenses (Amount paid but expenses will accrue over the
months/year etc.)
• correction of entry due to wrongly debited/credited account
• Outstanding salary etc.
Memorandum Voucher
This is a non-accounting voucher and the entries made using memo voucher will
not affect our accounts.
Some of the uses of Memorandum Vouchers are:
• Making suspense payments
• Vouchers not verified at the time of entry
• If there is no clarity with the details of a voucher
• Items given for approval
We can alter and convert a Memo Voucher into a regular voucher later.

Sales Voucher
Short cut : F8

Steps:- GOT > transactions > Vouchers > F8:Sales

Sales voucher is used to record sales of goods or services. Sales transactions in any
business may be simple cash or credit sales. For recording sales of goods, we can
select cash or bank for cash sales and party ledger for credit sales.
we can record sales of goods or stock items using the
Item Invoice mode: It has the option to provide the stock item details along with
its quantity and rate. So if we are selling goods, recording those transactions in
Item Invoice mode is a better option.
Voucher mode: it allows we to record the sale of goods as well as the sale of
services.
(If we are selling services, then TallyPrime also allows we to record such
transactions in the Accounting Invoice mode.)

Purchase Voucher
Short cut : F9

Steps:- GOT > transactions > Vouchers > F8:Sales

Purchase voucher is used to record purchase of goods or services. Purchase

transactions can be either
• cash purchase or
• credit purchase.
Memorandum Voucher:-

Steps:- GOT > transactions > Vouchers > F10 > Show inactive > Memo
voucher
Purchage Order Procrssing:-

Steps:- GOT > Transactions > Vouchers > F:10 Other Vouchers > Activate Purchage order using
“Show inactive Option” > ctrl+F9
Purchace order Creation:-

Receipt Note: -

Steps: - GOT > Transaction > Vouchers > F10: Other Vouchers (Activate Receipt Note voucher:
Alt + F9)
Rejection Outward: -
Steps: - GOT > Transactions > vouchers > F10: other Vouchers (Activate Rejection outward
option CTRL + F5)
Receipt note: -

Steps: - GOT > Transactions > vouchers > F10: other Vouchers (Activate Receipt note option
ALT + F9)

Purchase Voucher/invoice: -

Steps: - GOT > Transactions > Vouchers > Purchase: F9

Payment Voucher: -
Sales order processing: -

Steps: GOT > Transactions > vouchers > F:10 other vouchers (Active sales order:
Ctrl + F8)
Delivery Note: -
Steps: - GOT > Transactions > Vouchers > F:10 other vouchers (Activate Delivery note
option: Alt + F8)
Rejection Inward: -

Steps: - Got > Transaction > Vouchers > F10: other Vouchers (Activate Rejection in
option: Ctrl + F6)

Delivery note: -

Steps: - Got > Transaction > Vouchers > F10: other Vouchers (Activate Delivery Note:
Alt + F8)
Sales Voucher/ Invoice: -
 Steps: - GOT > Transactions > Vouchers > Sales: F8

Credit Note: -

Steps: - GOT > Transactions > Vouchers > F10: other vouchers (Activate credit
note option: Alt + F6)
Receipt Voucher: -

Steps: - GOT > Transactions > Vouchers > Receipt: F6

Cost Centre: -
Steps: - GOT > Masters > Accounting Masters > Select “Show inactive” Option >active
“cost Category”. “Cost centre” and “cost class” option.

Cost category creation screen: -

Steps: - GOT > Masters > accounting Masters > Cost Category
Payment voucher: -

Steps: - GOT > Transactions > Vouchers > payment: F5

Cost Centre Display Screen: -
Steps: - GOT > Display more Reports > Statements of accounts > Cost Centres

Cost Centre report:

How to Activate Budget

Steps: -
Gateway of Tally->Masters->Create->Budget
Gateway of Tally->Masters->Create->Click Show More->Budget

. Gateway of Tally->Masters->Create->Budget
2.In the Budget Creation screen, enter a name for your budget.
3. In the Under field, select the required budget from the List of Budgets. By default, Primary is
selected from the List of Budgets
4.Sub-budgets can be created under primary budgets
5.Enter the period of the budget in the From Date and To Date fields.
6. In Set/Alter Budgets of, enter Yes in the Groups field.
 \

Printing of cheque
BILLS OF MATERIAL

Implementation of Gst in Tally prime

 Steps: - GOT > Features F11 > Taxation and Enable Goods and Service Tax (GST) Set to Yes

Ledger creation screen: -.

Steps: - GOT> Masters > create > Accounting Masters > Ledgers
Stock item Creation Screen: -

Steps: - GOT > Masters > Create > Inventory Masters > Stock Items
Purchase voucher: -

Steps: - GOT > Transactions > Vouchers. purchase: F9

 Tax analysis Report: -

GSTR-2

Steps: - GOT > Display more reports > Statutory Reports > Gst > GSTR 2

Sales Voucher

Tax analysis Report: -

 Press Alt + F1
Tax invoice format gst

GSTR-1

GSTR 3B: -

TDS
(TAX DEDUCTED AT SOURCE)
Steps: - GOT> Features > F11> Taxation > TDS
TDS nature of Payments

Steps: - GOT > Masters > Create > Statutory Masters > TDS Nature of Payments
TDS Tax Challan: -

Payroll Activation In tally prime

1 st step:
 Fig 54- EMPLOYEE GROUP CREATION

Gateway of Tally > Create > type or select Employee Group > and press Enter.
Alternatively, press Alt+G (Go To) > Create Master > Employee Group > and
press Enter.

2 nd step:

Gateway of Tally > Create > type or select Units (Work) > and press Enter.
Alternatively, press Alt+G (Go To) > Create Master > Units (Work) > and
press Enter.

UNIT CREATION
 UNIT CREATION COMPOUND

3rd step:

1. Gateway of Tally > Create > type or select Attendance/Production Types >
and press Enter.
Alternatively, press Alt+G (Go To) > Create Master > Attendance/Production Types >
and press Enter.
2. Enter the Name of the attendance type.
3. Select Primary from the list for the field Under.
4. Select the Attendance type as Attendance/Leave with Pay. The Period
type appears automatically.

4 th step:
ATTENDANCE/PRODUCTION TYPE CREATION
Gateway of Tally > Create > type or select pay head > and press Enter.
PAY HEAD CREATION OF BASIC SALARY

PAY HEAD CREATION OF BONUS

 PAY HEAD CREATION OF TA
PAY HEAD CREATION OF DA

PAY HEAD CREATION OF HRA

 PAY HEAD CREATION OF ESI

PAY HEAD CREATION OF LEAVE

PAY HEAD CREATION OF OVERTIME

 PAY HEAD CREATION OF PF

PAY HEAD CREATION OF REIMBURSEMENT

The salary components constituting an employee’s pay structure are Pay

Heads. A pay head may be a benefit or a deduction from the salary. The value
of these pay heads could be fixed or variable for each payroll period.

For example, Basic Pay is a fixed pay component, whereas Variable Pay and
Bonus are variable components.
A Pay Head Type is categorised as Earnings, Deductions or Reimbursements .

SALARY DETAILS CREATION

ATTENDANCE VOUCHER CREATION

ATTENDANCE VOUCHER CREATION

FORM 16 A:

FORM 16

INCOME TAX RETURN:

INCOME TAX RETURN

Payslip that is also known as a Wage slip or Salary slip is a document given by an
employer to an employee after the payment of salary. A Payslip includes details
about salary such as deductions and total earnings. It also acts as proof that an employee
got paid for the particular month.
REGISTRATION FOR E -FILLING OF ITR