Tally Prime Book by Hardik Panchal

Tally Prime
Book by
Unicorn Academy
Author: Hardik Panchal
9173367172
Accounting Fundamental
Definition of Accounting:
Accounting is the process of identifying, recording, classifying and
reporting information on financial transactions in a systematic manner
for the purpose of providing financial information for decision
making.
Types of Accounts:
There are basically three types of Accounts maintained for
transactions
Personal Account, Real Account & Nominal Account
Personal Account: Any individual person or any firms or any company or

a bank is considered in a Personal account.
For example:- Rajesh Singh
Muna Enterprise
Wipro Pvt Ltd
PNB Bank
Capital etc.
Real Account: Account of any physical things. The cash account or

goods account are examples of Real account.
For example:- Cash
Land
Building
Furniture
Computer etc.
Nominal Account: Account of any invisible things that means that

things are in terms of cash are examples of Nominal account.
For example:- Discount,
Commission,
Salary,
wages,
Freight etc.
Golden Rules of Accounting
1 Personal Account
Debit the receiver
Credit the giver
2 Real Account
Debit what comes in
Credit what goes out
3 Nominal Account
Debit all expenses and losses
Credit all incomes and profits
Entries
1. Suresh started a business with cash ₹ 180000
Cash a/c Dr 180000
To Capital a/c 180000
2. Cash deposited into PNB bank ₹ 55000
PNB bank a/c Dr 55000
To Cash a/c 55000
3. Purchase goods for cash ₹ 22000
Purchase a/c Dr 22000
To Cash a/c 22000
4. Bought goods from Sona Enterprise ₹ 72000
Purchase a/c Dr 72000
To Sona enterprise a/c 72000
5. Sold goods for cash ₹ 16200
Cash a/c Dr 16200
To Sales a/c 16200
6. Paid rent for the year by PNB bank cheque ₹. 6000
Rent a/c Dr 6000
To PNB bank a/c 6000
7. Withdraw cash from PNB bank ₹ 40000
Cash a/c Dr 40000
To PNB bank a/c 40000
8. Purchased furniture for cash ₹ 5000
Furniture a/c Dr 5000
To Cash a/c 5000
9. Sold goods to Super enterprise ₹12700
Super enterprise a/c Dr 12700
To Sales a/c 12700
10. Received cash from Super enterprise ₹12446 and allowed him
discount ₹ 254
Cash a/c Dr 12446
Discount allowed a/c Dr 254
To Super enterprise a/c 12700
11. Paid wages ₹ 1800
Wages a/c Dr 1800
To Cash a/c 1800
12. Paid cash for trade Expenses ₹ 2000
Trade Expenses a/c Dr 2000
To Cash a/c 2000
13. Withdraw cash for private Expenses ₹ 8000
Drawings a/c Dr 8000
To Cash a/c 8000
14. Depreciation on Machinery ₹ 50000
Depreciation a/c Dr 50000
To Machinery a/c 50000
Introduction to Tally Prime

Tally Prime is accounting software, used in business to record,
summarize and maintain business transactions. Tally was developed in
1984 by Shyam Sunder Goenka in Bangalore.
Download Tally Prime from

https://tallysolutions.com/download/
Install in your PC / Laptop

For Training purpose: Most of the computer training Institute use
Educational Mode:
Note : Tally Prime- educational mode work without a license, where you
can input data only on the first, second, and last days of the month.
Start Tally Software

Open Tally > T: Work in Educational Mode
Create a company
F3:Company> Create Company
Company Name: Unicorn Academy Pvt Ltd
Fill up: Address, State and other optional details.
Accept
Company Created Successfully,
(Enable features as per your business need)
Accounting
Maintain Account : Yes
Enable bill wise entry : Yes
Inventory : No
Enable Goods and Service Tax (GST) : No
TDS : No
Accept
Shut Company
F3 >Company > Shut Company
Alter Company
Go To > Select Company > Unicorn Academy Pvt Ltd.
F3 : Company > Alter Company
Change your address or any other data
Accept
Delete Company
Go To> F3 (Company)> Alter Company > Alt + D
Company Unicorn Academy Pvt Ltd. has been deleted
Again Create Company Unicorn Academy Pvt Ltd.
(Follow the steps mentioned in Create Company)
Pre-defined Group
Gateway of Tally > Chart of Account > List of Masters >Groups
There are 28 predefined groups in Tally
15 groups are Primary Groups and the remaining 13 groups are Sub-
Groups
1. Branch / Divisions (P) 15. Direct Expense (P)
2. Capital Account (P) 16. Direct Incomes (P)
3. Reserves & Surplus 17. Fixed Assets (P)
4. Current Assets (P) 18. Indirect Expenses (P)
5. Bank Accounts 19. Indirect Incomes (P)
6. Cash-in-Hand 20. Investments (P)
7. Deposits (Asset) 21. Loans (Liability) (P)
8. Loans & Advances (Asset) 22. Bank OD A/c
9. Stock-in-Hand 23. Secured Loans
10. Sundry Debtors 24. Unsecured Loans
11. Current Liabilities (P) 25. Misc. Expenses (Asset) (P)
12. Duties & Taxes 26. Purchase Accounts(P)
13. Provisions 27. Sales Accounts (P)
14. Sundry Creditors 28. Suspense A/c (P)
Creating Group: Gateway of Tally > Masters > Create > Accounting
Masters > Group
Group Name Under Nature of Group

Building Fixed Assets ---
Office Equipment Primary Assets
Deprecation Primary Expenses
Check on Gateway of Tally > Chart of Account> Groups

Creating ledger
By default there is two ledgers (1) Cash (2) Profit and Loss A/c
Check the default ledger Gateway of Tally > Charts of Accounts >
Ledgers
Gateway of Tally >Masters > Create >Ledger
Ledger Name Group Under

Punjab National Bank Bank Account
State Bank of India Bank Account
Petty Cash Cash in Hand
Opening Stock Stock in Hand
Suresh Singh Sundry Debtors
National Pvt. Ltd. Sundry Debtors
Building Cost Building (Fixed Assets)
Building Accrued Dep Building (Fixed Assets)
Office Equipment Cost Office Equipment (Assets)
Office Equipment Dep Office Equipment
Sales Tax Duties & Taxes
T.D.S (Tax Deducted at Source) Duties & Taxes
Shivam Kumar Sundry Creditors
Sona Enterprise Sundry Creditors
Education Loan Secured Loan
Bill Receivable Current Assets
Computer Sales Sales Accounts
Software Sales Sales Accounts
Parts Sales Sales Accounts
Bank Interest Indirect Incomes
Purchase Purchase Accounts
Wages Direct Expenses
Freight Direct Expenses
Salaries Indirect Expenses
Office Expenses Indirect Expenses
Advertisements Indirect Expenses
Bank Charges Indirect Expenses
Building Deprecation Deprecation
Office Equipment Accrued Dep. Deprecation
Note: When expense belongs to trading account it is considered as direct expense and
in case of P&L a/c it is indirect expense.
Ledger Alteration: Gateway of Tally >Masters > Alter >Ledger

Voucher Shortcuts and explanation
F4: Contra
Cash deposited into bank and cash withdrawn from bank entries.
F5: Payment
Cash and Cheque payment including cash and bank purchase entries.
F6: Receipt
Cash and cheque received including cash and bank sales entries.
F7: Journal
All non-cash transaction entries.
F8: Sales
Only credit sales entries.
F9: Purchases
Only credit purchase entries.
Alter + F7: Stock Journal

Stock transferred and production entries.
Vouchers entries
All entries which you made in these given accounting vouchers are
effect on your current accounting of your business.
Gateway of Tally > Transaction > Voucher

Mode change (Ctrl + H)
In case of ledger creation

Alt + c > ledger name > under group
Alt + c > Cash a/c > Cash in hand
Alt + c > Capital a/c > Capital account
RECEIPT VOUCHER (F6)
When Amount received from party, when goods sold on cash, or when
amount bring into business then use receipt voucher. Let’s Learn
Receipt Voucher in Tally.
1) Ajay Start a Business with ₹5,00,000
Cr. Capital A/c 500000 Capital account
Dr. Cash 500000 Cash in hand
Narration: Being cash brought into the business
2) Ajay Sold goods of ₹20,000 in cash to Ravi pvt ltd.
Cr. Sales a/c 20000 Sales account
Narration: Goods sold on cash
3) Received Amount of ₹10,000 from Anil Company.
Cr. Anil Co. a/c 10000 Sundry Debtors
Narration: Cash received from Anil Co.
4) Received Amount in Cheque of ₹75,000/- from Kedar Pvt Ltd.
Cr. Kedar Pvt. Ltd 75000 Sundry Debtors
Dr. Bank of India 75000 Bank account
Narration: Cheque received from Kedar Pvt ltd.
PAYMENT VOUCHER (F5)

When Amount paid to party, when goods purchased on cash, or when
amount being paid from business then use payment voucher. Let’s Learn
payment voucher in Tally.
Cash and Cheque payment including cash and bank purchase entries.
1) Purchased furniture of ₹2,000
Dr. Furniture 2000 Fixed account
Cr. Cash 2000 Cash in hand
2) Purchased Stationery in Cash of ₹1,000
Dr. Stationery Exp. 1000 Indirect exp
Cr. Cash A/c 1000 Cash in hand
3) Paid Salary To Manager Of ₹5,000 By Cheque.
Dr. Salary To Manager 5000 Indirect exp
Cr. Bank Of India 5000 Bank account
4) Training Fees Paid to Computer Class For Office Staff of ₹4,500
Dr. Training Fees 4500 Indirect exp
5) Purchased Goods by cash of ₹500
Dr. Purchase A/c 500 Purchase account
Cr. Cash A/c 500 Cash in hand
CONTRA VOUCHER (F4)
We can do all the related entries with cash deposit, cash withdraw,
and cash transfer from one bank to another bank.
1) ₹1,00,000 Deposit into the Bank of India
Dr. Bank of India 100000 Bank account
2) ₹5,000 withdraw from Bank of India
Cr. Bank of India 5000 Bank account
3) Open a new bank account in UTI bank and deposited ₹ 40,000
Dr. UTI Bank 40000 Bank account
4) ₹6,000 Deposit into the SBI bank Through Petty Cash.
Cr. Petty Cash 6000 Cash in hand
Dr. SBI Bank 6000 Bank account
5) ₹8,000 deposited into Bank of Baroda.
6) ₹1,000 withdrawn from Bank of Baroda.
7) ₹10,000 deposited into Axis bank and opened current account.
8) ₹2,000 withdrawn from Axis bank for office expenses.
SALES VOUCHER (F8)

Sales Voucher is used when we Sold goods to party (sundry Debtors) on
CREDIT BASIS.
1) Sold Goods To Avni Traders of ₹ 27,000 on Credit.
Dr. Avni Traders 27000 Sundry Debtors
Cr. Sales A/c 27000 Sales account
2) Sold Goods to Surabhi Traders of ₹35,100 on Credit.
Dr. Surabhi Traders 35100 Sundry Debtors
3) Sold Goods to Suresh of ₹8,500 on Credit.
Dr. Suresh A/c 8500 Sundry Debtors
4) Sold Goods to Jay Prakash of ₹12,000 on Credit.
Dr. Jay Prakash A/c 12000 Sundry Debtors
5) Sold Goods to Neeta of ₹4,500 on Credit
Dr. Neeta 4500 Sundry Debtors
6) Sold Goods to Ritesh of ₹5,550 on Credit
Dr. Ritesh A/c 5550 Sundry Debtors
7) Sold goods to Mahi of ₹4000 on credit.
8) Sold goods to Bharat of ₹7500 on credit.
9) Sold goods to Nirma of ₹5100 on credit.
10) Sold goods to Hema of ₹10000 on credit.
PURCHASE VOUCHER (F9)
Purchase Voucher is used when we purchased goods from party (sundry
Creditors) on credit basis.
1) Purchased Goods from Sharma & Co. ₹22,000 on Credit.
Cr. Sharma & Co. 22000 Sundry Creditors
2) Bought Goods worth ₹32,100 From Sanjeev on Credit
Cr. Sanjeev A/c 32100 Sundry Creditors
3) Purchase Goods From Sanjay & Co. of ₹3300 on Credit
Cr. Sanjay & Co. A/c 3300 Sundry Creditors
4) Goods Worth ₹5,100 From Suman Co. on Credit
Cr. Suman Co. A/c 5100 Sundry Creditors
5) Bought Goods of ₹12,500 From Shakti Traders on Credit
Cr. Shakti Traders A/c 12500 Sundry Creditors
6) Purchase Goods From John Brothers at ₹13,000 on Credit
Cr. John Brothers A/c 13000 Sundry Creditors
7) Purchase goods of ₹5000 from Amitabh on credit.
8) Purchase goods of ₹7000 from Pratap on credit.
9) Purchase goods of ₹51000 from Jagdish on credit.
10) Purchase goods of ₹6000 from Harish on credit.
JOURNAL VOUCHER (F7)

Journal Voucher is used for Adjustment Entries
1) Purchased Laptop from Digital World Ltd. of ₹35,000 on Credit.
Dr. Laptop (Fixed Assets) 35000 Fixed Assets
Cr. Digital World ltd a/c 35000 Sundry Creditors
2) Purchased a Printer From Variety Electronics of ₹10,500 on Credit
Dr. Printer (Fixed Assets) 10500 Fixed Assets
Cr. Variety Electronics. 10500 Sundry Creditors
3) Purchase Stamp Machine of ₹25,000 and Stamp Accessories of
₹.15,000 from D.K. Enterprises on Credit.
Dr. Stamp Machine 25000 Fixed Assets
Dr. Stamp Accessories 15000 Fixed Assets
Cr. D.K. Enterprises 40000 Sundry Creditors
4) Purchase Stationary of ₹6500 from Ganesh Stationary on Credit.
Dr. Stationary Exp. 6500 Indirect Expenses
Cr. Ganesh Stationary 6500 Sundry Creditors
5) Received Goods of ₹1000 From Avni Traders as Defective.
Dr. Sales Return A/c 1000 Sales Account
Cr. Avni Traders A/c 1000 Sundry Debtors
6) Send Goods to Sharma & co. of ₹100 as Defective.
Dr. Sharma & co. A/c 100 Sundry Creditors
Cr. Purchase Return A/c 100 Purchase account
7) Purchased Furniture from Akshar furniture mart of ₹15000 on credit.
8) Goods lost in fire of ₹10000.
Dr. loss of fire A/c 10000 Indirect expense
Cr. Purchase a/c 10000 purchase a/c
9) Goods of ₹5000 given in Charity.
Dr. Donation a/c 5000 Indirect expense
10) Goods lost in theft of ₹2000
Dr. loss of theft a/c 2000 Indirect expense
11) Depreciate ₹5000 on furniture.
Dr. Depreciation a/c 5000 Indirect expense
Cr. Furniture a/c 5000 Fixed assets.
12) Goods received of ₹1000 due to defective from Nirma.
13) Goods received of ₹200 due to not as per sample from Bharat.
14) Goods send of ₹1500 due to defective to Jagdish.
15) Goods send of ₹800 due to defective to Harish.
Balance sheet
Gateway of Tally > Reports > Balance Sheet
Show all voucher entries

Gateway of Tally > Transaction > Day Book
Transactions:
1 Started business with cash ₹500000 (receipt F6)
Cr Capital a/c 500000 Capital account
Dr Cash a/c 500000 Cash in hand
2 Open bank account in ICICI with cash ₹25000 (Contra F4)
Cr Cash a/c 25000 Cash in hand
Dr ICICI Bank a/c 25000 Bank account
3 Purchased goods for cash of ₹50000 (Payment F5)
Dr Purchase a/c 50000 Purchase account
4 Purchased Machinery for cash ₹100000 (Payment F5)
Dr Machinery a/c 100000 Fixed asset
5 Purchased goods on credit from Mr.Rajnikant ₹60000 (Purchase F9)
Cr Rajnikant a/c 60000 Sundry Creditors
6 Sold goods on credit to Ms.Rashmika ₹72000 (Sales F8)
Dr Rashmika a/c 72000 Sundry Debtors
Cr Sales a/c 72000 sales account
7 Purchase goods on credit from Super Pvt Ltd ₹15000 (Purchase F9)
Cr Super Pvt Ltd a/c 15000 Sundry Creditors
8 Received cash from Rashmika ₹72000 (Receipt F6)
Cr Rashmika a/c 72000 Sundry Debtors
Dr Cash 72000 Cash in hand
9 Paid cash to Mr.Rajnikant ₹ 60000 (Payment.F5)
Dr Rajnikant 60000 Sundry Creditors
Cr Cash 60000 Cash in Hand
10 Commission received ₹ 5000 (Receipt. F6)
Cr Commission 5000 Indirect Incomes
Dr Cash 5000 Cash in Hand
11 Electricity bill paid ₹ 1000 (Payment.F5)
Dr Electricity Bill 1000 Indirect Expenses
12 Purchased goods on credit from Shanu Enterprise ₹ 14000
(Purchase. F9)
Cr Shanu Enterprise 14000 Sundry Creditors
Dr Purchase 14000 Purchase Accounts
13 Purchased computer for cash ₹ 21000 (Payment.F5)
Dr Computer 21000 Fixed Assets
14 Deposited cash into PNB bank ₹ 10000 (Contra.F4)
Dr PNB Bank 10000 Bank Accounts
15 Sold goods for cash ₹ 80000 (Receipt.F6)
Cr Sales 80000 Sales Accounts
16 Paid cash to Shanu Enterprise ₹ 14000 (Payment.F5)
Dr Shanu Enterprise 14000 Sundry Creditors
17 Depreciation on for Machinery ₹ 5000 (Journal.F7)
Dr Depreciation 5000 Indirect Expenses
Cr Machinery 5000 Fixed Assets
18 Interest paid in cash on loan ₹ 1000 (Payment.F5)
Dr Interest on Loan 1000 Indirect Expenses
19 Withdraw cash into PNB bank ₹ 25000 (Contra.F4)
Cr PNB Bank 25000 Bank Accounts
20 Received Service Charge ₹ 18000 (Receipt.F6)
Cr Service Charge 18000 Indirect Income
21 Paid cash to Super Pvt. Ltd. ₹ 15000 (Payment.F5)
Dr Super Pvt Ltd 15000 Sundry Creditors
Practice :
Journal Entries
1) Mr. Ramesh started Business with cash of ₹3, 00,000/-.
2) Mr. Ramesh opened a new Bank Account in HDFC Bank & Deposited
₹1,50,000/-.
3) Mr. Ramesh Purchased Computer of ₹20,000/- by Cash.
4) Purchased Goods of ₹15000/- by cash.
5) Sold goods of ₹10, 000/- on cash.
6) Sold goods of ₹6000/- on cash.
7) Ramesh purchase Furniture of ₹10,000/- by cheque.
8) Purchase goods of ₹12000/- From Krishna on Credit.
9) Sold goods to Sanjay of ₹15,000/- On Credit.
10) Paid Hemali Expenses of ₹500/- by cash.
11) Paid Telephone Expenses of ₹1200/- by cash.
12) Received cash from Sanjay of ₹10,000/-.
13) Withdraw cash from HDFC Bank of ₹15,000/-
14) Paid Rent Expenses of ₹3000/- by Cash.
15) Purchase goods of ₹10,000/- by Cash.
16) Sold goods of ₹15,000/- on Cash.
17) Paid Cash to Krishna of ₹7,000/-.
18) Received Commission of ₹5,000 by cash.
19) Paid petrol Expenses of ₹300/- by Cash.
20) Loan taken from Bhushan of ₹20,000/-.
21) Sold goods to Jayesh Agencies of ₹17,000/- on credit.
22) Received cheque from Sanjay of ₹2,000/-.
23) Deposited cash in HDFC Bank of ₹10,000/-.
24) Paid Office Expenses of ₹500 by Cash.
25) Paid Electricity Expenses by cheque of ₹1,000/-.
26) Cheque of ₹1500/- transferred from HDFC Bank to ICICI Bank.
27) Purchased Cooler from Mahavir Coolers of ₹10,000/- on Credit.
28) Purchased goods of ₹3000/- by Cash/-.
29) Received Cash from Jayesh Agencies of ₹1500/-.
30) Paid Octroi Expenses of ₹400/- by cash
Extra practice Journal Entries-1

1) Mr. Sachin started Business with cash of ₹5,00,000/-.
2) Mr. Sachin opened a new Bank Account in BOB Bank & Deposited
₹1,50,000/-.
3) Mr. Sachin Purchased Computer of ₹20,000/- by Cash.
4) Purchased Goods of ₹18,000/- by cash.
5) Sold goods of ₹12,000/- on cash.
6) Sold goods of ₹6,000/- on cash.
7) Sachin purchase Furniture of ₹20,000/- by cheque.
8) Purchase goods of ₹20,000/- from Saurav on Credit.
9) Sold goods to Ajay of ₹15,000/- On Credit.
10) Paid Harshad Expenses of ₹1500/- by cash.
11) Paid Telephone Expenses of ₹2000/- by cash.
12) Received cash from Ajay of ₹10,000/-.
13) Withdraw cash from BOB of ₹15,000/-
Extra practice Journal Entries-2

1) Purchased goods from Mr.Hardik of ₹15,000 on Credit.
2) Sold goods to Mr.Pandya of ₹5000 on Credit.
3) Goods of ₹2000 returned from Mr.Pandya due to defective.
4) Returned goods of ₹2000 to Mr.Hardik due to defective.
5) Goods purchased from Modi of ₹5000 on Credit.
6) Goods sold to Amit of ₹4000 on Credit.
7) Goods returned from Amit of ₹1000 due to defective.
8) Goods returned to Modi of ₹1000 due to defective.
STOCK ITEMS ENTRY
GOODS
Gateway of Tally > Create > Masters > Inventory masters
Category (e.g. Segate, WD, Samsung, HP)
Group (e.g. Hard disk, Pendrive, Memory card)
Quantity
Unit (e.g. NOS, KGS, MTR, LTR)
Rate (e.g. Purchase cost)
Godown (e.g. Vadodara, Surat, Mumbai)
Stock item name (e.g. 1TB HDD, 2TB HDD, 5TB HDD)
Item name Category Group Quantity Unit Rate Godown

1TB HDD Segate Harddisk 50 NOS. 4000 Vadodara
2TB HDD Segate Harddisk 50 NOS. 5000 Surat
5TB HDD WD Harddisk 25 NOS. 7000 Mumbai
16GB HP Memory Card 100 NOS. 200 Vadodara
32GB HP Memory Card 125 NOS. 300 Surat
64GB HP Memory Card 100 NOS. 400 Mumbai
128GB Samsung Pendrive 200 NOS. 350 Vadodara
256GB Samsung Pendrive 150 NOS. 450 Surat
512GB Samsung Pendrive 100 NOS. 550 Mumbai
Multi Stock Items entry

Gateway of Tally > Charts of account > Stock Items > Alt+H
Item name Category Group Quantity Unit Rate Godown
USB MOUSE I BALL Mouse 20 NOS. 350 Vadodara
WIRELESS MOUSE DELL Mouse 30 NOS. 450 Surat
USB KEYBOARD I BALL Keyboard 15 NOS. 500 Mumbai
WIRELESS
I BALL Keyboard 10 NOS. 600 Vadodara
KEYBOARD
Lcd
15” LCD SAMSUNG 10 NOS. 3500 Surat
monitor
Lcd
21” LCD DELL 15 NOS. 4500 Mumbai
monitor
Lcd
26” LCD SAMSUNG 20 NOS. 6500 Vadodara
monitor
5 WATTS ZEBRONICS Speaker 15 NOS. 1500 Mumbai
10 WATTS ZEBRONICS Speaker 25 NOS. 2500 Surat
20 WATTS JBL Speaker 20 NOS. 5000 Vadodara
40 WATTS JBL Speaker 10 NOS. 10000 Mumbai
BW Printer HP Printer 20 NOS. 12000 Vadodara
Colour Printer HP Printer 11 NOS. 15000 Surat
4 Channel Sony CCTV 50 NOS. 500 Mumbai
8 Channel Panasonic CCTV 100 NOS. 1000 Vadodara
12 Channel LG CCTV 25 NOS. 2000 Surat
Stock transfer from one godown to another godown
Gateway of Tally > Vouchers > Alt+F7
1) Transfer 10 I BALL USB MOUSE from Vadodara to Surat
2) Transfer 10 26” LCD Monitor from Vadodara to Mumbai
3) Transfer 10 4 Channel CCTV from Mumbai to Vadodara
4) Transfer 5 40 Watts speaker from Mumbai to Surat
Physical Stock Journal

(To change stock in Tally with confirming with store department
about stock physically available)
Gateway of Tally > Vouchers > Ctrl+F7
Cost centre create

Gateway of Tally > Create > Show more > Show inactive > Cost
category > enable
Cost category = Stationary
Cost centre = Notepad, Stapler, Diary, Pen, Calculator
Paid electricity expense of ₹20000 in cash (Meter 1 5000, Meter

2 7000, Meter 3 8000)
Cost category = Electricity
Cost centre = Meter 1, Meter 2, Meter 3.
Paid wages of ₹15000 in cash. (Anvi 12000, Raj 3000)

Cost category = Wages
Cost centre = Anvi, Raj
Paid Salary to Ajay 5000, Vijay 8000 and Sujay 10000 in cash.
Cost Category = Salary
Cost centre = Ajay, Vijay, Sujay
TRADING ORGANIZATION
PURCHASE PROCESS IN TRADING ORGANIZATION
➢ Purchase Order (CTRL +F9)
o Goods Order
➢ Receipt Note (ALT +F9)
o Goods Received
➢ Rejection Out (CTRL + F5)
o Goods Rejected before Bill
➢ Purchase Voucher (F9)
o Goods Purchase on Credit Basis (Bill Received)
➢ Debit Note (ALT + F5)
o Goods Return
SALES PROCESS IN TRADING ORGANIZATION
➢ Sales Order (CTRL +F8)
• Goods Order Received
➢ Delivery Note (ALT +F8)
• Goods Delivered
➢ Rejection In (Ctrl + F6)
• Goods Rejected before Sending Bill
➢ Sales Voucher (F8)
• Goods Sold on Credit Basis (Bill Sent)
➢ Credit Note (ALT + F6)
• Goods Received (Due to Faulty)
PURCHASE PROCESS IN TRADING ORGANIZATION

Gateway of Tally > Voucher > F10 > Show inactive
➢ Purchase Order (CTRL + F9)

o Goods Order
1) Order 100 USB Mouse of Iball each of Rs.350 from Variety Infotech.
(Wholesaler) (Date: 30-Nov-2022)
2) Order 200 USB Keyboard of HP each of ₹.550 from Ganesh Infotech.
(Wholesaler)
3) Order 500 Memory card of Sandisk of ₹.250 from Shiva Traders.
4) Order 100 Speakers of JBL of ₹ 5000 from JBL ltd.
After passing Entry of Purchase Order – Goto Gateway of Tally –

Display More Reports – Statement – Inventory Books – Purchase Order
Book.
Also, you can check pending Purchase Order – Goto Gateway of Tally –
Display More Reports – Statement – Statement of Inventory – Purchase
Order Outstanding
 Receipt Note (ALT +F9)

o Goods Received
1) Stock Items Received 90 USB mouse of Iball each of Rs. 350/- from
Variety Infotech. (Date: 02-DEC-2022)
2) Stock items received 200 USB keyboard of HP each of ₹550 from
Ganesh Infotech.
3) Stock items received 450 memory card of Sandisk of ₹250 from Shiva
Traders.
4) Stock items received 90 speakers of JBL of ₹5000 from JBL ltd.
Now to Check the Receipt note voucher reflection Just goto – Gateway
of Tally – Stock Summery – Where you will get list of Stocks, we have
received.
➢ Rejection Out (Ctrl + F5)
o Goods Rejected before Bill Receiving
1) 2 USB Mouse of Iball found Faulty (Not working / Crack) (Date: 02-
DEC-2022)
2) 10 USB keyboard of HP found faulty (Not working / Crack) (Date: 02-
DEC-2022)
3) 15 Memory card of Sandisk found faulty (Not working / Crack) (Date:
02-DEC-2022)
4) 2 Speakers of JBL of JBL ltd found faulty (Not working / Crack)
(Date: 02-DEC-2022)
Now you can check pending Purchaser Order – Goto Gateway of Tally –
Display More Reports – Statement – Statement of Inventory – Purchase
Order Outstandings
➢ Purchase Voucher (F9)

o Goods Purchase on Credit Basis (Bill Received)
1) Purchase Bill received from Variety Infotech of 88 USB Mouse of
Iball each of Rs. 350/- . (Date: 04-DEC-2022)
2) Purchase Bill received from Ganesh Infotech of 190 USB keyboard of
HP each of ₹550.
3) Purchased bill received form Shiva traders of 485 memory card of
Sandisk each of ₹250.
4) Purchase bill received from JBL ltd of 88 speakers of JBL each of
₹5000.
➢ Debit Note (Alt + F5)

o Goods Return due to Fault
1) 4 USB Mouse Return to Variety Infotech due to Faulty (Date: 12-DEC
– 2022)
2) 5 USB keyboard return to Ganesh Infotech due to faulty.
3) 10 Memory card return to Shiva traders due to faulty.
4) 1 Speaker return to JBL ltd due to faulty.
Check Report in Profit and Loss Account – Purhcase Account
➢ Sales Order (CTRL +F8)
• Goods Order Received
➢ Delivery Note (ALT +F8)
• Goods Delivered
• Goods Sold Credit Basis (Bill Sent)
➢ Credit Note (ALT + F6)
• Goods Received (Due to Fault)
 Sales Order (CTRL +F8)

 Goods Order Received
1) Order Received of 50 USB Mouse of Iball each of Rs.420/- from
Vinayak Training Center. (Date: 05-DEC-2022).
2) Order received of 100 USB keyboard of HP each of ₹650 from Parvati
Computers.
3) Order received of 150 Memory card of Sandisk of ₹325 from
Shrinathji Computer center.
4) Order received of 25 Speaker of JBL of ₹7500 from Sales India.
 Delivery Note (ALT +F8)

o a. Goods Delivered
1) Order Delivered 50 USB mouse of Iball each of Rs. 420/- to Vinayak
Training center. (Date: 07-DEC-2022)
2) Order delivered of 100 USB keyboard of HP each of ₹650 to Parvati
Computers.
3) Order delivered of 150 Memory card of Sandisk of ₹325 to Shrinathji
Computer center.
4) Order delivered of 25 Speaker of JBL of ₹7500 to Sales India.
Now to Check the Delivery note voucher reflection Just go to – Gateway

of Tally – Stock Summery – Where you will get list of Stocks
available.
1) 2 USB Mouse of Iball found Faulty Rejceted by Vinayak Training
center (Not working / Crack) (Date: 07- DEC-2022)
2) 5 USB keyboard of HP found fauly rejected by Parvati Computers (not
working/crack)
3) 10 Memory card of Sandisk found faulty rejected by Shrinathji
Computer center (not working/crack)
4) 1 Speaker of JBL found faulty rejected by Sales India (not
working/crack)
Now you can check pending Sales Order – Goto Gateway of Tally –
Display More Reports – Statement – Statement of Inventory – Sales
Order Outstandings

• Goods Sold on Credit Basis (Bill Sent)
1) Sent Bill to Vinayak Training Center of 48 USB Mouse of Iball each
of Rs. 420/-. (Date: 08-DEC-2022)
2) Sent bill to Parvati computers of 95 USB keyboard of HP each of
₹650.
3) Sent bill to Shrinathji Computer center of 140 memory card of
Sandisk each of ₹325
4) Sent bill to Sales India of 24 Speakers of JBL each of ₹7500.
 Credit Note (ALT + F6)

• Goods Received (Due to Fault)
1) 2 USB Mouse of Iball Received from Vinayak Training Center due to
Faulty (Date: 10- DEC – 2022)
2) 2 USB keyboard of HP received from Parvati computer due ot faulty
3) 5 memory card of Sandisk received from Shrinathji computer center
due to faulty
4) 1 speaker of JBL received from Sales India due to faulty.
TDS(Tax deducted at source)
What is TDS?
TDS or Tax Deducted at Source is a specific amount that is
reduced when a certain payment like salary, commission, rent,
interest, professional fees, etc. is made. The person who makes
the payment deducts tax at the source, while the person who
receives a payment/income has the liability to pay tax. It
lowers tax evasion because the tax will be collected at the time
of making a payment.
When should TDS be deducted and who is liable to

deduct?
 If you are making any sort of payment specified under the
Income Tax Act, then TDS will be deducted at the time of these
payments. However, no TDS will be deducted if you are an
individual or Hindu Undivided Family (HUF), and your books are
not required to be audited.
 In case of rent payment by an individual or HUF member, where
the amount payable exceeds Rs.50,000, then a TDS at 5% will be
deducted even if your books are not liable for a tax audit.
You will not be required to apply for a Tax Deduction Account
Number (TAN) if you are liable to have TDS deducted at 5%.
 If you are a working professional then your employer will
deduct TDS as per the applicable income tax slab rates. The
bank with whom you hold a working account will deduct TDS at
10%. However, if they do not have your PAN details, then TDS
at 20% will be deducted. For the majority of payments, TDS
rates are set in the Income Tax Act the payer deducts TDS as
per the rates applicable.
 You will not be required to pay any tax if you submit your
investment proofs to your employer and your total income that
can be taxed is below the total taxable threshold. Thus, no
TDS will be deducted in this case. You can also submit Form
15G and Form 15H to the bank if the total taxable income is
below the total taxable limit. The bank in this case will not
deduct any TDS on your interest income.
 In case you failed to submit the investment proof to your
employer and the bank deducted the TDS, you can file a return
and claim a refund of it, provided your total taxable income
is below the total taxable limit.
Example of TDS
Let’s assume that a start-up company pays Rs.90,000 as rent
every month to whoever owns the property. The TDS applicable to
the amount is 10%, so the company must subtract Rs.9,000 and pay
Rs.81,000 to the property owner. In this case, the owner of the
property will receive Rs.81,000 following TDS. The owner can add
the gross amount of Rs.90,000 to his income, thereby allowing
him to take credit for the Rs.9,000 that has already been
deducted by the company.
Types of TDS
Here are some of the income sources that qualify for TDS:
 Salary
 Amount under LIC
 Bank Interest
 Brokerage or Commission
 Commission payments
 Compensation on acquiring immovable property
 Contractor payments
 Deemed Dividend
 Insurance Commission
 Interest apart from interest on securities
 Interest on securities
 Payment of rent
 Remuneration paid to the director of a company, etc
 Transfer of immovable property
 Winning from games like a crossword puzzle, card, lottery,
etc.
What is the TDS rate on salary?
TDS rates on salary are the same as the tax slab rates
applicable to individuals. If you are less than 60 years of age,
your TDS liability will be nil in case your income is less than
Rs.2.5 lakh. Individuals who earn between Rs.2.5 lakh and Rs.5
lakh will be subject to TDS at 5%, while those who earn between
Rs.5 lakh and Rs.10 lakh will have a TDS liability of 20%, and
those who earn more than Rs.10 lakh will be subject to a TDS
rate of 30%
Under the new tax regime, no TDS will need to be paid for an
annual income of up to Rs.2.5 lakh. In case the annual income is
between Rs.2.5 lakh and Rs.5 lakh, the TDS liability is 5%. In
case the annual income is between Rs.5 lakh and Rs.7.5 lakh, the
TDS liability is 10%. In case the annual income is between
Rs.7.5 lakh and Rs.10 lakh, the TDS liability is 15%. In case
the annual income is between Rs.10 lakh and Rs.12.5 lakh, the
TDS liability is 20%. In case the annual income is between
Rs.12.5 lakh and Rs.15 lakh, the TDS liability is 25%. In case
the annual income is above Rs.15 lakh, the TDS liability is 30%.
How to File TDS return online?

In order to file your TDS return, there are few things you must
ensure. They are as follows:
 You must have a valid Tax Deduction and Collection Account
Number (TAN) and make sure it is registered for e-filing
 Prepare your TDS statements using Return Preparation Utility
before validating the same using File Validation Utility
 You must have a valid Digital Signature Certificate that is
registered for e-Filing in case you want to upload your
returns using DSC
 Provide the demat account or bank account details of your
principal contact, or ensure that his/her PAN is linked with
his/her Aadhaar in case you want to upload your returns using
Electronic Verification Code
TDS Due Dates of FY 2020-21 for Return Filing

Here are the due dates for TDS Payment filing for FY 2020-21:
Quarter Period Due Date for filing
Quarter 1 April 2020 to 30 June 2020 31 March 2021
Quarter 2 July 2020 to September 2020 31 March 2021
Quarter 3 October 2020 to December 2020 31 January 2022
Quarter 4 January 2021 to March 2021 30 June 2022
Steps to upload TDS statements

YouTube video https://www.youtube.com/watch?v=lcKCha4BZWw
Here is a simple guide to upload your TDS statements on the
official website of the Income Tax Department :
1. Visit https://www.incometaxindiaefiling.gov.in/home. On the
right side of the page, you will see ‘Registered User?’
followed by the ‘Login Here’ option.
2. Click on the aforementioned option and fill in your login
information before clicking on ‘Login’. Your TAN will be your
user ID.
3. After you have logged in, locate the ‘TDS’ drop-down menu
where you will have to select ‘Upload TDS’.
4. A form will appear, and you will have to choose the right
details before clicking on ‘Validate’.
5. You will then have to validate your returns using either DSC
or EVC.
Challan for TDS Payment

Challan ITNS 281 is the Challan form for online payment of
TDS (Tax Deducted at Source) and TCS (Tax Collected at Source).
Challan No. 281 is applicable for Tax Deducted at Source / Tax
Collected at Source (TDS/TCS) from corporates and non-
corporates. TDS exception is essentially a mechanism developed
by the Indian Government where in there is a tax deduction at
the source of an income, calculated at a specific rate and
thereby becomes payable to the department of Income Tax.
Penalty for Late Filing TDS Return

Here are the penalties levied by the Income Tax Department for
the failure to submit or defaults in submitting your TDS
return/statements:
 Failure to submit your returns: Under Section 272A (2) of the
Income Tax Act, a penalty of Rs.100 will be levied for each
day that the returns remain unsubmitted, subject to a maximum
of the TDS amount.
 Failure to file your returns on time: Under Section 234E of
the Income Tax Act, a penalty of Rs.200 will be levied for
each day that the returns remain unfiled, subject to a maximum
of the TDS amount.
 For defaults in the filing of TDS statement: Under Section
271H of the Income Tax Act, a penalty of Rs.10,000 to Rs.1
lakh will be levied in case the deductor defaults at the time
of filing TDS return within the due date.
 For incorrect details: Under Section 271H of the Income Tax
Act, a penalty of Rs.10,000 to Rs.1 lakh will be charged in
case the deductor submits incorrect information pertaining to
PAN, challan particulars, TDS amount, etc.
 For non-payment of TDS: Under Section 201A of the Income Tax
Act, interest will also be levied along with the penalty in
case TDS is not paid within the due date. In case a part of
the tax amount or the whole of it is not deducted at source,
interest will be charged at 1.5% every month starting from the
date on which the tax was deductible to the date on which the
tax is actually deducted.
Steps to check TDS Deduction Status

one needs to follow the steps mentioned below to check their
status of TDS
1. Visit the official website of the Income Tax Department.
2. Provide your details and login to the portal.
3. Under the ‘My Accounts’ tab, click on ‘view Form 26AS (Tax
Credit)’.
4. Select the year and PDF format to download the file.
5. Your downloaded PDF file is password protected. The password
here will be the date of birth mentioned on your PAN. For
example, if your date of birth is 5 March 2000 then the
password will be 05032000.
6. You can then view all the details related to the TDS
deduction.
7. You can use your bank’s net banking facility to check whether
your TDS has been deducted provided your PAN is linked to it.
How to Claim TDS Refund?

Individuals can claim TDS refund on the Income Tax website.
However, the Income Tax Returns must be filed, and the TDS
refund must be shown. Once the ITR is filed, the TDS refund will
be processed by the Income Tax Department. The refund might be
credited to the bank account within 6 months. Individuals can
also check the status of the refund on the official website of
the Income Tax Department.
What is a TDS Certificate?

TDS Certificates are of two types: Form 16 and Form 16A. Under
Section 203 of the Income Tax Act, 1961, a certificate must be
provided to the deductee showing the amount that has been
subtracted as tax. The deductor is liable to provide this form
to the deductee.
 For salaried class: In case of salaried employees, employers
are required to provide them with Form 16 with a mention of
the amount that has been deducted as TDS. Form 16 contains a
host of details such as the computation of tax, the deduction
of tax, and the payment of TDS. Employers must issue this form
to their employees before May 31 of the following financial
year.
 For non-salaried class: The deductor provides the deductee
with Form 16A, and it contains all the details regarding the
computation of tax, the deduction of TDS, and payments.
How to do TDS entry in Tally?

Sonu FD is ₹10,00,000
1 - SCENARIO
FD Period Completed
F6 - Receipt Voucher –
CR.ICICI BANK FD (investment) - 10,00,000
CR.INTEREST EARNED ON FD - INDIRECT INCOME = 9,000
DR. ICICI Bank ACCOUNT = 10,09,000
2- Scenario
F6 - Receipt Voucher
Financial Year End
CR. ICICI BANK FD - 10,00,000
CR. INTEREST EARNED ON FD - INDIRECT INCOME = 10,000
DR. ICICI Bank ACCOUNT = 10,09,000
DR.TDS Receivable (Deposite and Assets) = Rs.1,000
2nd Way next Year Continue your FD

F7 - Journal
DR. ICICI Bank A/c - Rs.9,000
DR.TDS Receivable (Deposited and Assets) = Rs.1,000
CR. Interest Earned on FD – Indirect Income = Rs.10,000
You will get Refund when you are not eligible to pay tax.
F6 - Receipt
CR.TDS Receivable RS.1000/
CR. Other Interest Earn (Indirect Income) Rs.60/-
DR. ICICI Bank A/c Rs.1060/-
If your Tax Liability is Rs.1500/- so let's make Entry against Tax

Liability.
F5 - Payment
DR. Income Tax Paid Rs.1500/-
CR. TDS Receivable Rs.1000/-
CR. ICICI Bank A/c Rs.500/-
TDS forms
Form 16A (other than Form 16B (TDS on sale

Form 16 (Salary Form 16C (TDS on rent
salary like commission, of property /Every
deduction/Yearly) /Every transaciton)
interest and more transaction
Part A Part B
TDS Deduction details

Salary calculation
quaterly, Salary
Salary, Bonus, Taxable
payment and TDS
allowance
Deduction
TDS forms
Form 16, Form 16A, Form 16B, Form 16C we can check deducted TDS
in Form 26AS on Income tax website.
TDS related queries

When TDS is not deducted?
The amount is paid to Reserve Bank of India, government.
• Interest paid or credited to Banking company, LIC, Insurance
Company, NSC, KVP etc
HOW TO PAY TDS? / DEPOSIT?

1) Electronic mode: E-Payment is mandatory for
A) All corporate assesses and
B) All assesses (other than company) to whom provisions of
section 44AB of the Income Tax Act, 1961 are applicable.
2) Physical Mode: By furnishing the Challan 281 in the authorized bank
branch
WHAT IS DUE DATE FOR DEPOSITING TDS?

1) The Tax Deducted at Source must be deposited to the government by
7th of the subsequent month.
2) e.g. TDS deducted in the month of June must be paid to the
government by 7th July.
3) However, the TDS deducted in the month of March can be deposited
till 30th April.
YOU REQUIRED FEW THINGS WHILE DEPOSITING TDS

1) Deductor TAN Number is required at the time of payment.
2) There is no need of deductee pan number at time of payment of TDS
challan.
3) Nature of Payment like TDS on Rent, Salaries, Commission etc.&
assessment year is required.
WHAT IS FORM 26AS

It is a statement where deductee can check whether the deductor has
been deposited the TDS amount to the government on behalf of deductee
PAN.
TDS ENTRY IN TALLY PRIME AS DEDUCTOR
Create new company as NAME TDS DEDUCTOR PRACTICE
For TDS entry in Tally Prime following information required:

1 Create TDS party ledger
2 Create expense ledger
3 Create TDS ledger
4 TDS nature of payment (Nature of TDS)
Anil Training Center (GSTIN: ) Provided Computer

Training to our company Staff and He Charged Rs.65,000/- on 1- Apr-
2022
Find important points

Type of deductee: Proprietary firm, Partnership firm, company
TDS nature of payment: As per list
Threshold limit: As per list
Raj Placement Pvt. Ltd. (GSTIN: 27KYMCS1460D1Z5) Provided Labour

Service as Given Below Details Invoice No.107 | Bill Amount :57,000 |
Date : 01-04-2022
HP ltd (GSTIN: 27ABDCE1234F1Z5) provided IT services, Invoice no.111 |

Bill amount: 80,000 | Date: 01-04-2022
Samantha pvt ltd (GSTIN: 29BBCCD4422E1Z5) provided cleaning service,

Invoice no.1234 | Bill amount: 50000 | Date: 01-04-2022
TDS PAYMENT ENTRIES IN TALLY PRIME

Things to be remember
➢The Tax Deducted at Source must be deposited to the government by
7th of the subsequent month.
➢TDS deducted in the month of June must be paid to the government by
7th July.
➢However, the TDS deducted in the month of March can be deposited
till 30th April.
Interest on Late payment

When TDS is Not Deducted
➢When TDS is not deducted — 1% per month or part thereof, for the
period from the date on which TDS is deductible/collectible to the
date on which TDS/TCS is deducted/collected.
➢When TDS is deducted but not paid — Interest at the rate of 1.5% per
month or part thereof, for the period from the date on which TDS is
actually deducted/collected to the date on which such TDS/TCS is
actually paid
TDS Payment entry (Payment F5)

Dr TDS Payable
Cr Cash
Practice
1. Ganesh Computer center (GSTIN: 27AYMPD5689E1Z5) Provided
Computer Training to our company Staff and He Charged
Rs.1,25,000/- on 1- Apr-2022.
2. Shiva consultancy (27KYMCS4152D1Z5) Provided Labour Service as
Given Below Details Invoice No.107 | Bill Amount :90,000 | Date:
01-04-2022
3. Alembic Consultancy (25KYMCS7946D1Z5) provided accounting
services to our company and they charged ₹2,00,000 on 1-Apr-2022
4. Reliance Traders (27KYMCS2254D1Z5) provided management services
to our company and they charged ₹75,000 on 1- Apr- 2022
5. HI-Tech agency (24KYMCS7788D1Z5) provided consultancy services
to our company and they charged ₹1,50,000 on 1-Apr-2022.
6. Mr.Sharma worked (24KYMPS4862D1Z5) for our company and company
decided to give him ₹50,000 commission on 1-Apr-2022.
(The Threshold Limit is Rs.15,000 for the Commission or
brokerage 5% TDS will be applicable on resident Indians and
Domestic Companies respectively)
7. ₹7,50,000 Building rent paid to Mr.Shah (24KYMPS9874D1Z5) for
the month of March 2022.
(For Limits and TDS refer TDS rates)
GST (Goods & Services Tax)
GST is Indirect Tax Collected by Govt. of India Which is levied on
certain categories of goods and services Supply.
• There are so many types of indirect taxes that are levied by the
central and state governments on Goods & Services
• Before GST - Entertainment tax, Value added tax, excise tax, import
duties, luxury tax, central sales tax, service tax etc. Abolish all
indirect taxes and implement a single taxation system – GST
• One Nation one Tax - एक राष्ट्र एक टै क्स
• GST Came into Effect From : 01 – July -2017
Terms in GST
GSTIN, Known as GST Identification Number, is assigned to every GST
registered person.
Example- 24ACDPS1420E1Z5 (15 Alphanumeric Pan Including Number)
First 2 Digit State Code (24 – Gujarat)
Next 10 Digit Pan card No. (ACDPS1420E)
1Z5 – Random (Zonal are code)
 REGISTERED PERSON: A Registered person is one who has registered

under GST.
 UNREGISTERED PERSON: unregistered person is one who is not
registered under GST.
 Intrastate: Purchase and Sales Within State

 Interstate: Purchase and Sales between Two State
Example : Maharashtra to Gujarat or Madhypradesh to Utterpradesh
Why GST? The biggest problem was State tax Controversy
 SGST TAX: Collected by the State Government on an intra-state sale

& purchase
 CGST TAX : Collected by the Central Government on an intra-state
sale & purchase
 IGST TAX : Collected by the Central Government for inter-state sale
& purchase
HSN-HARMONIZED SYSTEM NOMENCLATURE

SAC-SERVICE ACCOUNTING CODE
https://cleartax.in/s/gst-hsn-lookup/
Regular dealer (Business to Business and Business to customer)

Composition dealer (Business to customer)
Now It’s Time to Learn GST ENTRIES IN Tally Prime
Create company for GST practice
Company created successfully > Taxation > Enable goods and services tax: Yes
Fill GST details
E-way bill > No
Set GST rate > No
1. Purchased Goods from Anvi Pvt. LTD. On Credit

Invoice No .An/205/21-22 | Date of Invoice : 01-04-2021 Party GSTIN No. : 24ALGPD1234D1Z5
INTRASTATE TRANSACTION (As item invoice) (Note: Tax classification details F12 > GST details >
Modify tax rate of GST: Yes)
Item name Category Group Qty Rate Taxable GST GST Invoice
amount % amount amount
LCD monitor Samsung Monitor 10 3500 35000 18% 6300 41300
21”
AC 1 ton LG AC 5 25000 125000 28% 35000 160000
AC 1.5 ton Samsung AC 6 24000 144000 28% 40320 184320
2. Purchased Goods from Akriti Pvt. LTD. On Credit
Invoice No .Ar/107/21-22 | Date of Invoice : 01-04-2021 Party GSTIN No. : 27CTGPD1234D1Z5
INTERSTATE TRANSACTION
21”
AC 1.5 ton Samsung AC 5 23500 117500 28% 32900 150400
Extra practice transactions

 Purchased goods from Maitri Pvt ltd on credit
Invoice no: MPL/205/21-22 | date of invoice: 1-4-21 | party GSTIN no:
24QWEC4567E1Z5
INTRASTATE TRANSACTION
Item Taxable GST GST Invoice
Category Group QTY Rate
name amount % amount amount
USB 18% 1260 8260
I BALL Mouse 20 350 7000
MOUSE
WIRELESS 18% 2430 15930
DELL Mouse 30 450 13500
MOUSE
USB 24% 1800 4200
I BALL Keyboard 15 500 7500
KEYBOARD
 Purchased goods from Sakshi Pvt Ltd. On credit
Invoice no: SPL/77/21-22 | Date of invoice: 1-4-21 | Party GSTIN no 27QWEC7896E1Z5
Interstate transaction (Maharastra)

WIRELESS 1440 7440
I BALL Keyboard 10 600 6000 24%
KEYBOARD
Lcd 6300 41300
15” LCD SAMSUNG 10 3500 35000 18%
monitor
Lcd 12150 79650
21” LCD DELL 15 4500 67500 18%
monitor
Lcd 23400 153400
26” LCD SAMSUNG 20 6500 130000 18%
monitor
12 12000 62000
LG CCTV 25 2000 50000 24%
Channel
3. Sold Goods to Ravi Pvt. LTD. On Credit

Invoice No .1 | Date of Invoice : 02-04-2022 Party GSTIN No. : 24
KLGCD1234D1Z5
21”
AC 1 ton LG AC 4 28000 112000 28% 31360 143360
AC 1.5 ton Samsung AC 5 27000 135000 28% 37800 172800
4. Sold Goods to Vishnu Pvt. LTD. On Credit

Invoice No .2 | Date of Invoice : 02-04-2021 Party GSTIN No. : 29ABDCE1234Z1Z5
INTERSTATE TRANSACTION
21”
Extra practice transactions

 Sold goods to Maithili Pvt ltd on credit
Invoice no: 3 | date of invoice: 2-4-21 | party GSTIN no: 24ACECR7485B1Z5
USB
I BALL Mouse 10 450 4500 18% 810 5310
MOUSE
WIRELESS
DELL Mouse 10 650 6500 18% 1170 7670
MOUSE
USB
I BALL Keyboard 10 700 7000 24% 1680 8680
KEYBOARD
 Sold goods to Sakhi Pvt Ltd. On credit
Invoice no: 4 | Date of invoice: 2-4-21 | Party GSTIN no 27AVDCG7412E1Z5
Interstate transaction (Maharastra)

WIRELESS
I BALL Keyboard 5 1000 5000 24% 1200 6200
KEYBOARD
Lcd
15” LCD SAMSUNG 5 5500 27500 18% 4950 32450
monitor
Lcd
21” LCD DELL 10 6500 65000 18% 11700 76700
monitor
Lcd
26” LCD SAMSUNG 10 8500 85000 18% 15300 100300
monitor
12
LG CCTV 15 3000 45000 24% 10800 55800
Channel
MANUFACTURING COMPANY
Create new company Batch no manufacturing pvt ltd. (speaker manufacturer)

Purchased following Raw material from RK Prime Pvt. LTD.
Invoice No. RK.13, GSTIN No. 24ASCPD1234D1Z5 Invoice Date: 01-04-2022
Taxable
Product Qty Unit Rate GST rate
amount
Screw 4000 Nos ₹2 8000 5%
Magnet 500 KGS ₹50 25000 12%
Voice coil 1000 Pcs. ₹70 70000 18%
Copper wire 500 Mtr ₹75 37500 18%
Purchased following raw material from DK Enterprise.

Invoice no: DK1234, GSTIN: 29LKJCI1234R1Z5, Invoice date: 1-4-22 (Interstate transaction)
Taxable
amount
Screw 2500 Nos ₹3 7500 5%
Magnet 500 KGS ₹60 30000 12%
Voice coil 800 Pcs. ₹80 64000 18%
Copper wire 600 Mtr ₹80 48000 18%
Create BOM: Bill of material by using following parameters

Gateway of Tally > Create > Stock item
Note: Under=Speaker, Units > Decimal 2, Under F12 change BOM to Yes
Product Qty Unit
Screw 4 Nos
Finished goods
Magnet 0.5 KGS
Voice coil 1 Pcs. 1 quantity of iBall 2.0 speaker
Copper wire 0.5 Mtr
Product Qty Unit

Screw 6 Nos
Finished goods
Magnet 1 KGS
Voice coil 1.5 Pcs. 1 quantity of iBall 3.0 speaker
Copper wire 1 Mtr
Now Create MFG Journal Voucher in Tally Prime

Gateway of Tally > Create > Voucher type > MFG Journal
Select type of voucher > Stock journal
Abbreviation > mfg jrnl
Activate this voucher type > yes
Method of voucher numbering > Automatic
Use as manufacturing journal > yes
Product Qty Unit
Screw 4 Nos
Finished goods
Magnet 0.5 KGS
Voice coil 1 Pcs. 1 quantity of iBall 2.0 speaker
Copper wire 0.5 Mtr
Sales entry
400 Speakers Sold to Radheshyam Co. Gujarat GSTIN: 24ADCCP1234D1Z5
Check stock if insufficient produce more units then sale.
Taxable
amount
Iball 2.0
400 Pcs 700 280000 18%
Speaker
280000 + 50400
Invoice amount: ₹3,30,400
Reports check
SERVICE ORGANISATION ACCOUNTING IN TALLY PRIME
What is service organization?
E.g. Teacher, Doctor, lawyer, CA.
Structure of service organization.

Provide service and receive payment
Entries
1. Hardik Started a Computer Class with name of Unicorn Academy Capital Introduced ₹2,00,000/-
❑ RECEIPT VOUCHER (F6)
▪ CR : Capital A/c
▪ DR : Cash A/c
2. Loan Taken from HDFC Bank Rs.2,00,000/-

❑ RECEIPT VOUCHER (F6)
▪ CR : Loan From HDFC Bank (Secured)
▪ DR : Cash & bank A/c
3. Hardik Open a New Bank account in HDFC Bank and amount Deposited Rs.2,00,000/-
❑ CONTRA VOUCHER (F4)
▪ CR : Cash A/c
▪ DR : HDFC Bank A/c
4. Purchased Furniture of Rs.25000/- For Class from Ajay Furniture on credit (Following Details)
(Invoice No. A02, GSITN : 24ASDPS1234D1Z5 GST Tax Applicable in Invoice 18%)
❑ PURCHASE VOUCHER (F9)
▪ CR : AJAY FURNITURE – (SUNDRY CREDITOR)
▪ DR : FURNITURE A/C (FIXED ASSETS)
(Office Table : Rs.5000/- Office Chair Rs.2000/- Students 10 Chairs Rs.7500/- Student Computer Desk
Rs.10500/-)
5. Purchased Office Stationery in Cash of Rs.1500/- For Class from Mahavir Stationery Invoice No.
M01, (Including of GST Rs.18%) (Following Details) (GSITN : 24AKDPS1234D1Z5 )
▪ CR : MAHAVIR STATIONERY – SUNDRY CREDITOR
▪ DR : STATIONERY EXP ( INDIRECT EXPENSES)
(Printing Papers: Rs.500/- Stamp Rs.200/- Pen Box Rs.300/- Folder Set Rs.500/-)
2nd entry
Payment
DR: Mahavir Stationery
Cr: Cash
6. Purchased 10 Computers each of Rs.20,000/- For Class from KK Computers on Credit Invoice No.
K05, (Inclusive Tax GST Rs.28% GSITN : 24AKDPS1234D1Z5 )
▪ CR : KK COMPUTERS - SUNDRY CREDITOR
▪ DR : COMPUTER ( FIXED ASSETS)
7. Rented Office Premises for Rs.4000/- per Month on & paid a Security Deposit of Rs.20000/- By
Cheque
❑ PAYMENT (F5)
▪ CR : HDFC BANK A/C
▪ DR : SECURITY DEPOSIT ( DEPOSITE ASSETS)
8. Issue an Advertisement on “Sun cable Advertisement” (GSTIN : 24ADKPS1234D1Z5 Invoice No:

S03) in Local Area of Rs.3500/- (Inclusive Tax of 18% GST) amount to be paid by Cheque
❑ PURCHASE (F9)
▪ CR : SUN CABLE ADVERTISEMENT (SUNDRY CREDITOR)
▪ DR : ADERVERTISEMENT EXPENSES ( INDIRECT EXP)
❖ Staff Appointed (Following Details)

❖ Computer Trainer (Rs.10000/-)
❖ Office Boy (Rs. 5000/-)
❖ Cash Expenses for the Month

❖ Staff Salary Rs.15000/-
❖ Shop Rent Rs.4000/-
❖ Electricity Bill Rs.1000/-
9. Cash Received from the Student Romesh Patel of Rs.10,000 (Inclusive Tax 18% GST) of Tally
Prime Course Batch which will be started from 1 Apr 2022. At 9.00 To 10.00 am
(During creating Romesh A/c
Create under group Tally prime with under group Sundry debtors,
Once again create under group batch 9 to 10 tally prime with under group tally prime.)
SALES (F8) and Then RECIEPT
▪ DR : Romesh Patel (SUNDRY DEBTOR)
▪ CR : Tally Prime Course (Direct Income)
2nd entry
Receipt F6
Cr. Romesh A/c
Dr. Cash a/c
10. Cash Received from the Student Kinjal Modi of Rs.12,000 (Inclusive Tax 18% GST) of Advance
Excel Course Batch which will be started from 1 Apr 2022. At 10.00 To 11.00 am
(Create under group 10 to 11 Adv excel batch also create under group Advance excel batch)
SALES (F8) and Then RECIEPT
▪ DR : Kinjal Modi (SUNDRY DEBTOR)
▪ CR : Advance Excel Course (Direct Income)
11. Cash Received from the Student Mrinal Shah of Rs.12,000 (Inclusive Tax 18% GST) of Advance
Excel Course Batch which will be started from 10 Jan 2021. At 10.00 To 11.00 am
❖ SALES (F8) and Then RECIEPT
▪ DR : Mrinal Shah (SUNDRY DEBTOR)
▪ CR : Advance Excel Course (Direct Income)
Go through Balance sheet, Profit & loss, GSTR-1
PAYROLL
What is Payroll?
 Payroll is the Process of Generating Salary slip of Employee.
 Tally Payroll is integrated with Accounting to give user the benefits of simplified Payroll
processing and accounting.
 Tally Payroll enables users to set up and implement salary structures, ranging from simple to
complex, as per the organization’s requirements. You can also align and automate payroll
processes and directly integrate them with main stream accounting applications.
Create new Company (Batch No Payroll)

Enable Payroll Statutory
GOTO Gateway of Tally
Show more to get employee category option
NOW SELECT EMPLOYEE CATEGORY PRESS ENTER – CREATE “HEAD OFFICE” CATEGORY
• SELECT EMPLOYEE GROUP
• PRESS ENTER – AND CREATE EMPLOYEE GROUP LIKE PURCHASE, SALES, ACCOUNT UNDER
CATERGORY – HEAD OFFICE
• SELECT EMPLOYEE GROUP
• PRESS ENTER – AND CREATE EMPLOYEE GROUP LIKE PURCHASE, SALES, ACCOUNT UNDER
CATERGORY – HEAD OFFICE
Create new Employee > Select Employee
Create new employee

• CREATE TWO SIMPLE WORK UNIT AND MAKE COMPOUND UNIT
• CREATE ATTENDANCE PRODUCTION TYPE

CREATE PAYHEADS BASIC SALARY AND HOUSE RENT ALLOWANCES
NOW CREATE PAY HEAD TRAVELLING ALLOWANCE

NOW CREATE PAY HEAD DEARNESS ALLOWANCE
NOW CREATE PAY HEAD PROFESSIONAL TAX

NOW CREATE PAY HEAD PROVDENT FUND
NOW CREATE PAY HEAD OVER TIME

Now Creating Salary Details – Goto – Gateway of Tally – Alter – Define Salary
Now Creating Salary Details – Goto – Gateway of Tally – Alter – Define Salary
Now Create Attendance Voucher : Voucher – Press F10 for other vouchers – Select Attendance
Now Create Payroll Vouchers : Voucher – Press Ctrl + F4
Press Ctrl + F = Payroll Autofill Window and fill following Details

Your payroll voucher will generate Automatically after filling Autofill Form Details
Now it’s time to print Salary slip – Gateway of Tally – Display more Reports – Payroll Reports –
PAYSLIP
After Pressing CTRL + P You will see the Print Preview
GST
GST registration process of sole proprietorship
Documents required for sole proprietorship
1. Proof of address
2. Owner’s aadhar
3. Owner’s photograph
4. Owner’s Pancard
5. Bank account details
6. Registered office proof
(Note: bank details can be added after registration)
Goto
gst.gov.in > Services > Registration > New registration

Tally Prime Book by Hardik Panchal

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Tally Prime

Personal Account: Any individual person or any firms or any company or

Real Account: Account of any physical things. The cash account or

Nominal Account: Account of any invisible things that means that

Introduction to Tally Prime

Download Tally Prime from

Install in your PC / Laptop

Start Tally Software

Group Name Under Nature of Group

Check on Gateway of Tally > Chart of Account> Groups

Ledger Name Group Under

Ledger Alteration: Gateway of Tally >Masters > Alter >Ledger

Alter + F7: Stock Journal

Gateway of Tally > Transaction > Voucher

In case of ledger creation

PAYMENT VOUCHER (F5)

SALES VOUCHER (F8)

JOURNAL VOUCHER (F7)

Show all voucher entries

Extra practice Journal Entries-1

Extra practice Journal Entries-2

Item name Category Group Quantity Unit Rate Godown

Multi Stock Items entry

Physical Stock Journal

Cost centre create

Paid electricity expense of ₹20000 in cash (Meter 1 5000, Meter

Paid wages of ₹15000 in cash. (Anvi 12000, Raj 3000)

PURCHASE PROCESS IN TRADING ORGANIZATION

➢ Purchase Order (CTRL + F9)

After passing Entry of Purchase Order – Goto Gateway of Tally –

 Receipt Note (ALT +F9)

➢ Purchase Voucher (F9)

➢ Debit Note (Alt + F5)

SALES PROCESS IN TRADING ORGANIZATION

 Sales Order (CTRL +F8)

 Delivery Note (ALT +F8)

Now to Check the Delivery note voucher reflection Just go to – Gateway

➢ Sales Voucher (F8)

 Credit Note (ALT + F6)

When should TDS be deducted and who is liable to

How to File TDS return online?

TDS Due Dates of FY 2020-21 for Return Filing

Quarter Period Due Date for filing

Quarter 1 April 2020 to 30 June 2020 31 March 2021

Quarter 2 July 2020 to September 2020 31 March 2021

Quarter 3 October 2020 to December 2020 31 January 2022

Quarter 4 January 2021 to March 2021 30 June 2022

Steps to upload TDS statements

Challan for TDS Payment

Penalty for Late Filing TDS Return

Steps to check TDS Deduction Status

How to Claim TDS Refund?

What is a TDS Certificate?

How to do TDS entry in Tally?

2nd Way next Year Continue your FD

If your Tax Liability is Rs.1500/- so let's make Entry against Tax

Form 16A (other than Form 16B (TDS on sale

TDS Deduction details

TDS related queries

HOW TO PAY TDS? / DEPOSIT?

WHAT IS DUE DATE FOR DEPOSITING TDS?

YOU REQUIRED FEW THINGS WHILE DEPOSITING TDS

WHAT IS FORM 26AS