UNIT 1:

1. Difference between computerized accounting and manual accounting

2. How to create a company in Tally ERP9?

UNIT 2:

1. How to: create, alter and delete a stock group or stock item?
2. How to create godown in Tally ERP9?

UNIT 3:

1. Differences between Debit Note and Credit Note

2. Types of vouchers

UNIT 4:

1. Types of billwise details

2. How to activate billwise details in Tally?

UNIT 5:

1. Types of Management Information System (MIS) reports

2. Advantages and disadvantages of MIS

TOTAL MARKS: 50
PASSING MARKS: 18
Unit 1:

1. Differences between computerized accounting and manual accounting

 Computerized = Automation + Efficiency
 Manual = Simplicity + Effort

Aspect Computerized Accounting Manual Accounting

Speed Fast; automates calculations Slow; requires manual effort for
and data processing. calculations.
Accuracy High; reduces human errors Prone to errors due to manual
with built-in checks and input and human mistakes.
controls.
Cost Requires investment in Lower initial cost but higher
software, hardware, and ongoing labor expenses.
maintenance.
Data storage Stores vast data digitally, saving Requires physical storage like
physical space. ledgers, files, and cabinets.
Report Generation Instant reports like Profit & Reports are manually compiled,
Loss, Balance Sheets, etc. which is time-consuming.
Scalability Easily handles complex, large, Struggles with managing large
and growing transactions. or complex accounts.
Customization Offers templates and Limited flexibility and high
customization for various effort for tailored reports.
needs.
Backup and security Digital backups, encryption, and High risk of data loss and
restricted access. unauthorized access.
Efficiency Efficient, handles repetitive Time-consuming and requires
tasks with minimal effort. repetitive manual work.

2. How to create a company in Tally ERP9?

 Step 1: Double click on Tally icon from desktop
 Step 2: Screen appears showing options of Company Info
 Step 3: Select create company
 Step 4: Company creation screen will be displayed

Unit 2

1. How to: create, alter and delete a stock group or stock item?
 Creating a stock item
Steps:
Go to Gateway of Tally → Inventory Info → Stock Groups → Create.
Enter the following details:
Name: Enter the name of the stock group (e.g., Electronics, Furniture).
Under: Specify the parent group (e.g., Primary if it's the main group).
Should quantities be added? Select Yes if you want the total quantity of items in this group to
appear.
Press Ctrl + A to save.
  Altering a Stock Group:
Steps:
Go to Gateway of Tally → Inventory Info → Stock Groups → Alter.
Select the Stock Group you want to modify.
Make the necessary changes (e.g., name, parent group, or other details).
Press Ctrl + A to save.

 Deleting a stock group:

Steps:
Go to Gateway of Tally → Inventory Info → Stock Groups → Alter.
Select the Stock Group to be deleted.
Press Alt + D to delete
Note: You cannot delete a Stock Group if it contains Stock Items or if it is being used in
transactions.

2. How to create godown in Tally ERP9?

 Steps:
1. Enable godown features:
Go to Gateway of Tally → F11: Features → Inventory Features.
Under Storage and Classification, set Maintain Multiple Godowns to Yes.
Press Ctrl + A to save.
2. Navigate to Godown Creation:
Go to Gateway of Tally → Inventory Info → Godowns → Create.
3. Enter Godown Details:
Name: Enter the name of the godown (e.g., Main Store, Warehouse, Shop 1).
Alias: (Optional) Add an alternate name for the godown.
Under: Choose the parent godown if it’s a sub-godown, or select Primary if it’s a main
godown.
Address (Optional): Enter the address of the godown.
4. Save the godown:
Press Ctrl + A to save the godown.

UNIT 3

1. Differences between Debit Note and Credit Note

Aspects Debit Note Credit Note

Definition Issued by the buyer to the Issued by the seller to the
seller to indicate a return or buyer to acknowledge a
reduction in liability. return or reduction in liability.
Purpose Used when the buyer returns Used when the seller accepts
goods or claims a reduction returned goods or gives a
in the amount payable. refund/discount.
Who issues it The buyer issues it to the The seller issues it to the
seller. buyer.
 Document type Considered as an adjustment Considered as an adjustment
document for reducing document for reducing
liabilities. receivables.
Associated Parties Buyer sends it to the seller. Seller sends it to the buyer.
Financial impact Reduces expenses or Reduces income or
liabilities for the buyer. receivables for the seller.
Recording in books Buyer records it as a debit in Seller records it as a credit in
their books. their books.
Adjustment type Adjusts payable amounts Adjusts receivable amounts
from the buyer to the seller. from the seller to the buyer.
Memory shortcut (easy to D = Down liability (Buyer C = Cut receivables (Seller
remember) reduces payment). reduces claim).

2. Types of vouchers
 Accounting vouchers:

Voucher type Purpose Shortcut keys

Payment voucher Records payments made F5
(e.g., cash or bank)
Receipt Voucher Records money received F6
(e.g., from customers).
Contra Voucher Records transfers between F4
cash/bank accounts.
Journal Voucher Records adjustments (e.g., F7
depreciation).

 Inventory vouchers:

Voucher type purpose Shortcut keys

Purchase Voucher Records goods or services F9
bought.
Sales Voucher Records goods or services F8
sold.
Delivery Note Records goods delivered to Alt + F8
customers.
Receipt Note Records goods received from Alt + F9
suppliers.
Stock Journal Adjusts stock quantity Alt + F7
without transactions.
Physical Stock Voucher Records actual stock count in Alt + F10
inventory.

 Statutory Vouchers:

Voucher type Purpose Shortcut keys

Debit Note Voucher For purchases returned to suppliers. Ctrl + F9
Credit Note Voucher For sales returned by customers. Ctrl + F8
 Tax Vouchers Manages tax adjustments like GST Depends on customization
or TDS.
UNIT 4

1. Types of billwise details

 Bill-wise details in Tally ERP 9 refer to a feature that allows tracking outstanding bills and linking
payments or receipts to specific invoices. It helps manage receivables and payables efficiently by
maintaining invoice-level clarity.

Type Purpose Easy to remember

New Reference Used for recording a fresh N = New Invoice
invoice or bill.
Against Reference Used for linking A = Adjust Against Bill
payments/receipts to an
existing bill.
Advance Records payments made or Ad = Advance Payment
received in advance.
On Account Records transactions not O = Open Account
linked to a specific bill or
invoice.
Stock Reference Used for transactions S = Stock Linked
involving stock-related
adjustments.
Easy method for recall: N.A.A.O.S
N: New Reference for new bills.
A: Against Reference to adjust bills.
A: Advance for advance payments.
O: On Account for unlinked amounts.
S: Stock Reference for inventory adjustments.

2. How to activate billwise details in Tally?

 Steps to Activate Bill-wise Details:
1. Enable in Accounting Features:
Go to Gateway of Tally → F11: Features → Accounting Features.
Set Maintain Bill-wise Details to Yes under Outstanding Management.
Press Ctrl + A to save the settings.
2. Configure for Ledgers:
Go to Gateway of Tally → Accounts Info → Ledgers → Alter/Create.
Select or create a ledger (e.g., Customer/Supplier)
Set Maintain Balances Bill by Bill to Yes.
For new ledgers, specify the default credit period (if applicable).
Press Ctrl + A to save.
3. Use in Transactions:
While creating vouchers (e.g., sales, purchase, payments), Tally will prompt you to link the
transaction to specific bills (New Reference, Against Reference, Advance, or On Account).
UNIT 5
1. Types of Management Information System (MIS) reports
 Management Information System (MIS) reports are tools that provide essential data to help
businesses make informed decisions.
1. Financial reports:
Profit & Loss Statement: Shows income, expenses, and profit/loss over a period.
Balance Sheet: Provides a snapshot of assets, liabilities, and equity
Cash Flow Statement: Tracks cash inflows and outflows
Budget vs. Actual Report: Compares planned vs. actual financial performance.
2. Inventory Reports:
Stock Summary Report: Shows the opening, inward, outward, and closing stock.
Inventory Valuation Report: Highlights stock value based on different valuation methods
(e.g., FIFO, LIFO).
Stock Ageing Report: Tracks how long inventory items have been in stock.
Reorder Level Report: Indicates when to reorder stock to prevent shortages.
3. Sales and Marketing Reports:
Sales Summary Report: Displays total sales by product, region, or salesperson.
Customer Analysis Report: Provides insights into customer buying behavior.
Sales Pipeline Report: Tracks potential deals and their stages in the sales process.
Marketing ROI Report: Measures the effectiveness of marketing campaigns.
4. Operational Reports:
Production Reports: Track manufacturing output and efficiency.
Service Reports: Monitor service requests, resolutions, and response times.
Resource Utilization Report: Measures how effectively resources (e.g., labor, machinery)
are used.
Project Status Report: Tracks progress, milestones, and issues in projects
5. Compliance and Statutory Reports:
Tax Reports: Summarize GST, VAT, or income tax filings.
Audit Trail Report: Tracks changes in financial data for transparency.
Compliance Checklist Report: Monitors adherence to statutory obligations.

2. Advantages and disadvantages of MIS

 Advantages:
1. Informed Decision Making: Provides accurate, timely information for better decision-
making.
2. Efficiency: Automates routine tasks, reducing manual work and improving efficiency.
3. Improved Communication: Facilitates better communication and coordination across
departments.
4. Real-time Information: Provides up-to-date information, enabling quick response to
business changes
5. Data Accuracy: Reduces errors by minimizing manual data entry.
6. Cost Reduction: Helps in identifying inefficiencies and cutting unnecessary costs.
7. Better Planning and Control: Improves planning, forecasting, and control by providing
comprehensive reports.
 8. Competitive Advantage: Enables businesses to track trends and make data-driven decisions
to stay ahead of competitors.
 Disadvantages:
1. High Initial Cost: Requires a significant investment in hardware, software, and training.
2. Complex Implementation: Setting up and integrating the system can be time-consuming
and complex.
3. Data Overload: Too much information can overwhelm decision-makers, making it harder to
identify key insights
4. Dependence on Technology: If the system fails, business operations can be disrupted.
5. Security Risks: Sensitive business information can be vulnerable to cyber-attacks if not
properly secured.
6. Maintenance Costs: Regular updates, backups, and technical support can add to ongoing
costs.
7. Resistance to Change: Employees may resist using the system, especially if they are
accustomed to traditional methods.