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Top 30 Tally Interview Questions & Answers

1) Explain what is Tally and where it can be used?

Tally is a software for accounts and inventory management, which is used for performing many
functions like

Performing all basic accounting functions

Estimating job costing
Storing details and managing inventory items
Managing payroll
Filing tax return, managing profit, and loss statement, preparing a balance sheet, VAT
forms, trial balance, cash-flow report, etc.
Maintaining budget scenarios
Calculating interest on the outstanding amount
Managing data over different locations and synchronize it

2) Mention what is the difference between Tally ERP 9 and Tally 7.2?

Tally 7.2 Tally ERP 9

It is an integrated solution that provides It is an upgraded version of Tally 7.2,
a function related to accounting, and provides many features like TDS,
reporting and inventory Payroll management, Excise for
This version includes VAT (Value Added dealers, etc.
Tax) functionality, Licensing and Tax This version includes handling of POS
deduction at source invoicing, Statutory and Taxation,
It is widely used because of simplifying Payroll, Multi-lingual support, etc.
VAT, Service Tax and TDS formalities It is more popular because of providing
It provides two licensing, Single User advanced inventory management and
Licensing and Multi User Licensing simplifying accounting
It is available in two edition Tally Silver
(Single User Edition) and Tally Gold

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(Multi-User Edition)

3) Mention what features are available in Tally ERP 9 for Accounting?

For Accounting Tally ERP 9 offers

Outstanding Management
Cost/Profit Centers Management
Invoicing
Budget/Scenario Management
Other features like Cheque Printing, etc.

4) Mention what are the functional enhancement or features included into Tally ERP 9?

E-mailing option: Users can send accounting reports to multiple recipients along with
an additional facility like Net-banking and Printing in various format is provided.
Accounting Voucher: A new type of numbering feature is added to the voucher, it
ensures that the voucher are numbered sequentially
Print Bank Transaction Details: It provides an option to take the print of bank details
on formal receipt
Credit Limits: The Credit Limit control set for a party ledger will not be applied on sales
order. A warning or alert message will pop up on the credit limit, and user can still save
the voucher
CST: Even in a simple format the CST form details entered in the invoice will get printed
Excise for Manufacturers: All details related to buyers and suppliers can be displayed
in the voucher also daily stock register can be maintained according to date wise, multi
items types and Tariff wise
Inventory Vouchers: For inventory section, you can now mention the Godown address
and also print the name
Payroll: New TALLY ERP 9, enables processing of salary according to the National
Pension Scheme
Service Tax: Under journal vouchers, the taxable amount, taxable percentage and
notification number will be showed in the service tax details. Auto adjustment of service
tax payable can be done against service tax input credit and cenvat
VAT Option: Recording multiple items with different VAT rates is possible by configuring
the setting of “Default Accounting Allocations for Selected Item In Invoice.”
Tax Audit: Form like 3CB, 3CD and 3CA have been updated as per the requirements of
CBDT
XBRL: The document is constrained to only those companies that have the nature of
the report set to consolidated

5) Mention what are the two pre-defined ledger available in Tally ERP 9?

In Tally ERP 9, there are two types of pre-defined ledgers

Cash: Under the group Cash-in-hand this ledger is created, you can enter the opening

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balance as on the books beginning from.

Profit and Loss Account: This ledger is created under the group Primary. In this
ledger, previous year’s profit or loss is entered as the opening balance of this ledger.

6) Mention what are the types of ledger you can make in Tally ERP 9?

The types of ledger you can make in Tally ERP 9 are

Creating a sales/purchase ledger

Creating an Income/Expense ledger
Creating a party ledger
Creating bank account
Creating a tax ledger
Creating a current liabilities

7) Mention what is the shortcuts for Voucher Creation and Alteration Screen in Tally ERP
9?

For Tally ERP 9, to create any master (ledger, stock item) on the voucher or alteration screen,
you have to enter Alt+C.

To alter or configure any master item on a voucher, you have to select specific ledger or stock
item on the sales voucher screen and press Ctrl+Enter.

8) Mention what is the shortcut to repeat the narration on a voucher?

To repeat the narration on a voucher, press Ctrl+R.

9) Explain what is group in Tally ERP 9?

Group is a collection of ledgers of the same nature. In the business, expenses like electric bills,
telephone bill, conveyance, etc. are commonly included in groups. Ledger based on these
expenses are created to be used while accounting vouchers are entered.

10) Mention what are the types of Tally ERP 9 vouchers? Also give the shortcut for
creating this vouchers?

Types of Tally ERP 9 vouchers include

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Contra Voucher->( F4 ) : It indicates the transfer of funds from bank account to the
cash account or cash account to bank account, or one bank to another bank account
Payment Voucher->( F5) : It describes payment histories like payment of salary or
office rental
Receipt Voucher->(F6) : This voucher describes any transaction that involves the
receipt like payment made to the bank
Journal Voucher->(F7) : It includes the expenses to maintain the business or company
running like expenses made after marketing
Sales/Invoice Voucher->(F8) :This voucher describes the sales made, it displays the
sale invoice
Credit Note Voucher->(Cntrl+F8): Entry in this voucher is made in when customer
returns some items due to incorrectly dispensed
Purchase Voucher->(F9) : Entry in this voucher is made when any item is purchase for
running the business
Debit Note Voucher->(Cntrl+F9) : Entry in this voucher is made when goods are sent
back to the suppliers due to damage or goods expired
Reversing Journals->F10 : It is special journal entry that is automatically reversed after
the date of the journal
Memo Voucher->Cntrl+F10: Entry in this voucher is made to display the unknown
expense at that moment of time and can be converted to actual sale voucher, or it can
also be deleted.

11) Mention what is the short cut to retrieve the last line which is removed in Tally ERP
9?

To recover the last line which is removed, short cut used is Ctrl+U.

12) Mention when you create a company in Tally ERP 9, what information does directory
stores?

Directory in Tally ERP 9 specifies the path where the company data will be stored.

13) Mention what is the short cut to recall the last narration saved for the first ledger in
the voucher?

The short cut to recall the last narration stored for the first ledger in the voucher is Alt+R.

14) Explain how to set up an employee in Tally ERP 9 for their payroll?

To process employees’ salaries, Tally ERP 9 give facility to create the required groups and
classify into different categories like—Employee category, Employee groups and Employees.

1. Employee group creation:

Under employee group creation screen-> Select Primary Cost Category as the
Category

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Name the employee's group as “Sales”

Select the group as “Primary”and then click on accept to finish with employee group
creation

2. Employee Master:

Under employee master you can include all the details about the employees like
Statutory details, Pass-port & Visa Details, Contract details etc.

15) Explain what trial balance is and how you check trial balance in Tally ERP9?

Trial Balance is basically a summary of all the ledger balances and checks whether the figures
are correct and balanced. It is a way to confirm that the journal entries are correctly posted to
the general ledger. In trial balance, the total of all debts balances should be equal the total of all
the credit balances.

16) Explain what is the default configuration Tally ERP 9 provides for Balance Sheet?

Balance Sheet in Tally ERP 9 will display two columns with Liabilities and Assets. The balance
sheet displays the closing balances of all the primary groups or capital accounts and the net
profit for the period.

17) Mention how you can view the Books of Accounts in Tally ERP 9?

To view the Books of Accounts

You have to press D at the gateway of Tally ERP 9 to bring up the Display menu
At the display menu, press A to bring up the Accounts Books menu

18) Mention what are the options available in Account Books Menu in Tally ERP 9?

Account Books Menu include

Bank Book (s)

Cash Book (s)
Ledger
Group Summary
Sales Register
Purchase Register
Journal Register

19) What does the statement of Inventory be used for?

Statement of inventory is used to view the reports on Inventory based on Godowns. Tracking
details of items according to the inventory. Also, to query on stock and check out the budgets
forecasts and plans, statistics, etc.

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20) Explain in Tally ERP 9, how you can view profit and loss statement?

To view the profit and loss statement, click F1: Detailed and it will display the information based
on the default primary groups. With every transaction/voucher that is entered is updated
instantly.

21) Explain how you can generate schedule VI profit & loss account using auditors
edition of Tally ERP 9?

Using auditor’s edition of Tally ERP 9, the schedule-VI balance sheet can be generated. For
that

Go to the gateway of Tally ->Audit & Compliance->Financial Statements->Profit & Loss

account
Press Ctrl+3 to load the previous year’s company to generate the Schedule VI profit &
loss account with two year's data

22)Mention what are the requirements to connect Tally ERP 9 remotely?

Remote connectivity for Tally ERP 9 is very useful feature, to connect remotely you have

At the Customer end At the remote location

Valid internet connection Valid internet connection
A licensed version of Tally ERP 9 with a A licensed version of Tally ERP 9
Tally.NET subscription A valid password and User ID to access
Create and authorize remote users for a the software
company that has to be operated
remotely
For remote access load & connect the
company to Tally.NET for remote
access

23) Mention what is the short cut to select the credit note voucher in Tally ERP 9?

Press on F8 (cntrl+F8), it enables you to select the credit note voucher in Tally ERP 9.

24) What is the shortcut to duplicate a voucher and to add a voucher in Tally ERP 9?

To duplicate a voucher: use short cut keys Alt+2

To add a voucher: use short cut keys Alt+A.

25) What is the short cut to cancel a day book or list of vouchers in Tally ERP 9?

In Tally ERP 9, short cut to cancel a day book or list of vouchers is ALT+X.

26) What is the short cut to filter the information based on the monetary value all most

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from all report screens in Tally ERP 9?

To filter the information based on the monetary value in Tally ERP 9, you can use the short cut
Alt+F12.

27) Explain what features you can use to convert data in encrypted form in Tally ERP9?

To convert data in encrypted form in Tally ERP 9, you can use function Tally Vault. To use Tally
Vault you to go to the gateway of Tally and press F3 and there you can select the company for
which you want to encrypt the data. Only persons having valid password can view those
encrypted data.

28) Mention what is the shortcut to select the purchase order voucher type?

To select the purchase order voucher type, at accounting and inventory voucher creation and
alteration screens, you can short cut as ALT+F4.

29) How can you copy text from Tally?

You can use the shortcut Ctrl+Alt+C to copy text and shortcut Ctrl+Alt+V to paste text.

30) How can you check company statutory details?

You can use the shortcut Ctrl+Alt+B to check statutory details from any screen.

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