Tally practical

Step 1:- Creation of Company

Gateway of Tally- (press alt+ f3 ) to open Company Info tap -> Create Company
i) Create a new company in the name of M/s Bitwise Trading Company with the
given details, financial year begins on 1/04/2019.
ii) after creation of a company, it is necessary to set up features. The features are set
of capabilities, provided as options, that enable maintenance of financial records
as per the requirements of the users. Go to Features ->f11- Company Features ->
Accounting Features-> Integrated account and inventory >> Type Yes
Step 2 :- Creation of Ledger
To create ledger follow step
Gateway of Tally->Masters --> Account Info ---> Ledgers-->Single Ledger --> Create
Ledger Under group
Capital a/c Capital a/c
Purchase a/c Purchase a/c
Shraddha steel work a/c Sundry creditors
Salary a/c Indirect Expenses
Bank of India a/c Bank a/c
Sales a/c Sales a/c
Machinery a/c Fixed assets
Interest receive a/c Indirect Income

Step 3 - voucher Entries

To enter transactions through vouchers Transactions > Accounting Vouchers.
Date Voucher type Perticular Debit amount Credit amount
1/4/2019 Receipt Voucher Dr. Cash a/c 5,00,000 5,00,000
Cr.Capital a/c
1/4/2019 Purchase Dr.Purchase a/c 20,000 20,000
voucher
Cr.Shradha
stell work a/c
2/5/2019 Payment voucher Dr.salary a/c 5,000 5,000
Cr.cash a/c
1/6/2019 Contra voucher Dr. Bank of India 50,000 50,000
a/c
Cr.cash a/c
2/6/2019 Sales voucher Dr. Cash a/c 25,500 25,500
Cr. Sales a/c
2/7/2019 Purchase Dr. Machinery 10,000 10,000
voucher a/c
Cr.cash a/c

2/12/2019 Receipt voucher Dr. Interest 2000

receive a/c
To Bank of India

Step 4 : To view various Reports :

(i) To view Trial Balance Display > Trial Balance > Detailed Trial Balance

(ii) To view Profit and Loss A/c Reports > Profit & Loss A/c

(iii) To view Balance Sheet Reports > Balance Sheet > Detailed

(iv) To view Day Book Display > Day Book > Detailed (Alt + F1)