TP Essential Level 2-Revision

TallyPrime Essential Level 2
Revision
Jc.S.Janardhanan
• Choose Educational Mode
• Dates – 1, 2 and 31 in selective months – we
can do the regular process
• Select an existing company from
the given below list or Choose
Create Company to get into a
new one
Company Creation
 Note down the path where the company details are
stored
 Enter the name of company & other details
 Note: It’s mandatory to mention the state & country
details properly especially for Tax purposes
 Financial year & Books beginning date should also
be given more care
F11 - Features
• We can expand this screen as we require

• Basic Features: Maintain Accounts option (For
Account only type of companies)
From Gateway of Tally
• Create – to create a new
company
• Alter – to make any alteration in
any of the selected companies
• Change – to switch over from
one to another (F3)
• Select Company – Existing one
(Alt + F3)
• Shut Company – for Temporary
Disappearance (Ctrl + F3)
• Note: Single line under any
alphabet or number, should be
used with Alt key.
• Double lines under any
alphabet or number, should be
used with Ctrl key.
Masters – Create –
Accounting Masters – Ledger
Note: As we have 28 Default Groups (15 Primary & 13 Sub-groups)

, we don’t want to create Groups.
As we have 2 default ledgers viz., Cash and Profit & Loss a/c , we
have to create all other ledgers as we require.
For Multi usage, choose Chart of Accounts
The Under Part is important. The list of
groups will appear by default. We have
to choose according to the nature of
accounts.
Journalising
through Vouchers
• By using ledgers, we have to
pass entries in relevant
Vouchers.
• During Voucher entries, if we
need a new ledger, we can
create by using Alt + C keys or
Create option available there.
• F10 – Other Vouchers – is used
to get into any voucher which
cannot be viewed in the
outside box like Credit Note,
Debit Note.
• The Arrow keys shown in the
right corner can be used to get
new vouchers related to the
current voucher types.
A Short view of
Voucher Types
• F4 – Contra – Bank Current Account Cash
Deposits/Withdrawals/Transfers/OD – Receipts/Repayment
• F5 – Payment – All kind of payments through cash/cheque
(except for purchase/sales return of trade goods)
• F6 – Receipt – All kind of receipts through cash/cheque
(except for purchase return/sale of trade goods)
• F7 – Journal – Adjustment entries – No Cash/Cheque should
be involved (except Purchase return/Sales return of trade
goods)
• F9 - Purchase – Purchase of trade goods only (cash or credit)
• F8 – Sales – Sale of trade goods only (cash or credit)
Extra Features regarding
Accounts
• Bill-wise Details – to know the exact details of
Outstandings (both of Sundry Creditors &
Debtors). Enable Bill-wise entry in F11 Screen.
• Cost Centre – to split any expense or income into
some parts – Enable Show more features option
& Enable Cost Centre in F11 Screen
• Budget – to maintain proper finance reports and
to get a clear view about Cost Analysis. Gateway
of Tally – Create – choose Show More option –
choose Budget
Bill-wise Entry Process
• Confirm whether the option is automatically enabled
as Yes during ledger creation of Creditors & Debtors
• After entering the supplier ledger, leave the pop-
up windows just by using Enter or Ctrl + A keys
• Select the proper reference from the given table
• Verification – Gateway of Tally – Display More
Reports – Statements of Accounts – Outstandings
– Receivable/Payable.
Cost Centre Process
• During ledger creation, confirm
whether the option is automatically
changed as Yes
• Gateway of Tally – Create – Cost
Centre – Create required Cost Centre
• Verification – Gateway of Tally –
Display More Reports – Statements
of Accounts – Outstandings – Cost
Centre
Budget Process
• Create – Budget – for Particular Group & Ledgers – choose a method you
require – fix the amount
• Pass Entries
• Verification – Display – Trial Balance – F10
Budget Verification
• Display – Trial Balance – use F10 – Budget Variance – choose the group or ledger
according to your requirement. Get into it.
• Once see the closing balance method, try to change the method as On Nett
Transaction
Inventory
• F11- Features
• Inventory – Enable first
two options
• Create required stock

details
• Stock group/Unit/Stock
Item
F9/F8 – in different mode
• Use Ctrl + H – Change Mode option
• It has 3 modes viz., As Voucher, Item Invoice Mode, Accounting
Invoice
• Choose Item Invoice Mode
Order Processing
• Click the arrow mark in the
right side.
• Activate Purchase Order
• Enter details of Purchase order with number & Due on. Enter
required stock.
• Open Receipt Note, enter Order details in the pop-up window.
• We can view all other details are filled automatically.
• Verify Profit & Loss a/c . Watch the different statement on the
screen.
• Verify Stock Summary
• Pass Purchase Entry. Verify Profit & Loss a/c and Stock Summary
Order Processing
• Click the arrow mark in the
right side.
• Activate Sales Order
• Enter details of Sales order with number & Due on. Enter
required stock.
• Open Delivery Note, enter Order details in the pop-up window.
• We can view all other details are filled automatically.
• Verify Profit & Loss a/c . Watch the different statement on the
screen.
• Verify Stock Summary
• Pass Sales Entry. Verify Profit & Loss a/c and Stock Summary
Godown
• Create – Inventory Masters –
Godown
• We have default godown –
Main Location
• We can create more for our
further requirement
• We can transfer stock from one godown to
another by using Stock Journal Voucher
Type
• Physical Stock – can be used to mention
the Excess & Shortages if any
• This can be enabled from the arrow key in
the right corner of voucher types
Batch-wise/Expiry Date
• Enable in F11 Screen
• In Single screen of Stock, confirm the
requirement
• During Purchase entry, enter the details
• It will reflect during Sales Entries
• We cannot sell a stock which is expired in
date
01/01/24
02/01/24
Price Level & Price List
(for Sales only)
• Price Level – Whole
Seller, Dealer,
Retailer
• Price List –
According to the
Quantity they
purchase
• Enable from F11
screen
• Create Price Level &
Set it during Ledger
Creation of Debtors
• Set Price List (Stock
Group) accordingly
Price List
Banking
• During ledger creation, Enter
the bank details & Enter Bank
Configuration – set Cheque
Range – for ex: 120411 to
120460
• After passing entries (deposit, a withdrawal, received
a cheque & paid a cheque)
• Gateway of Tally – Utilities – Banking – Bank
Reconciliation – Enter proper Bank Name – Enter into
the report
• Enter proper Date for each transaction or Use Alt + S
– Bank Date – Select from there
Goods & Services Tax
• GST – Indirect Tax – In India – 01/07/2017
• Regular & Composition Dealers
• GSTIN/UIN – 15 digits - 33ACAPM6445P1ZA
• CGST & SGST/UTGST – for Intra State Supply
• IGST – for Interstate Supply
• Activate from F11 screen
• Enter State, Dealer Type as Regular, GSTIN
• Create required ledgers – Purchase, Sales,
Creditor, Debtor & Tax Ledgers – Don’t
enter the percentage of tax details in any
of these ledgers
• Create required Stock Items – Enter
Percentage of Tax details here
Single Stock Item
Screen with GST
GST Purchase
GST Sales

TP Essential Level 2-Revision

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TallyPrime Essential Level 2

• We can expand this screen as we require

Note: As we have 28 Default Groups (15 Primary & 13 Sub-groups)

• Create required stock

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