computerized accounting with tally

Module 1 Classification or types of accounts accounting packages: ACCOUNTING GROUP & LEDGERS
INTRODUCTION TO ACCOUNTING • Real accounts- these are the accounts or properties of 1)ready to use: it is suited to small business firms where the Accounting information menu:
business. Eg- cash account volume of transactions is very low. This is because the cost of account information menu is available in the gateway of
Accounting is the recording of business transaction for
installation is very low. It is easier to learn
getting final results i.e.. Profit or loss. • Personal account- these are the account relating to persons tally as shown below.
2) customized : it is used to meet special requirements of
Definition with whom • Account info
customers. These are used by large & medium business firms.
American Institute of Certified Public Accountants (AICPA) • business deals. Personal accounts maybe of the following The available software is not suitable for their organization & Groups
which defines accounting as “the art of recording, three types Ledgers
they install additional requirements.
classifying and summarizing in a significant manner and in Natural person’s personal account- accounts human being 3)tailored : this requires specialized training to the users. They Vouchers types
terms of money, transactions and events, which are, in Artificial person’s account- accounts of artificial person
part at least, of a financial character and interpreting the
mainly adopted by the large business firms. • Inventory info
created by law eg- company a/c, bank a/c ACCOUNTING WITH TALLY
results thereof”. • Import masters
Representative person’s account- indirectly representing a Tally : tally is complete accounting software developed by Tally
Features of accounting Classification of account- heads or chart of accounts
person. Eg- prepaid expenses solutions pvt. Ltd. With the help of tally, we can create accounts,
• Monetary transaction Tally follows the “single Ledger” concept of accounting,
• Nominal accounts- accounts relating to income, expenses prepare vouchers, keep inventory information and produce
• Historical nature which is the modern way of managing accounts. Tally offers
etc various type of reports.
• Legal requirements 28 predefined widely used groups. Out of these, 15 groups
Features of Tally
• External use Rules of accounting are primary groups and 13 sub-groups. Among 15
• Simplicity
• Disclosure of financial status English approach- this approach is based on types accounts are predefined groups 9 groups are balance sheet items and the
• Speed
• Interim reports recorded. They are as follows. remaining 6 groups are profit & loss items.
• Power
Important accounting terms Real accounts- Debit what comes in Credit what goes out • Flexibility Groups: the single ledger concept followed in tally avoids
Transactions: transaction means the exchange of money Personal account Debit the receiver Credit the giver • No codes the use of sub ledgers and corresponding control accounts
or money’s worth from one account to another account Nominal account- Debit all expenses Credit all incomes • Real time in general ledger. Traditionally, grouping of accounts is a
Events like purchase and sale of goods, receipt and
Branches of accounting: Financial accounting Cost accounting • Online help post- accounting activity that is done only when reports are
payment of cash for services or on personal accounts, loss
Management accounting Starting Tally needed. At the highest level of grouping, accounts are
or profit in dealings etc., are the transactions”.
Manual accounting: it involves keeping various ledgers and We can start tally accounting software by double clicking up on classified into capital or revenue- more specifically into
Debtor: A person who owes money to the firm mostly on
files which typically include a cash book, sales and purchase the tally icon. assets, liabilities, income and expenditure.
account of credit sales of goods is called a debtor. For
example, when goods are sold to a person on credit that day book and petty cash book etc. it implies that employees Components of tally screen Sub groups : groups have a hierarchical structure. At the top
person pays the price in future, he is called a debtor. perform the whole accounting works manually on a periodic 1. Title area :top area contains version number, release details, we have primary groups. These are the main assets,
Creditor: A person to whom money is owing by the firm is basis. product type , tally serial number etc. liabilities, income or expenditure groups of accounts that
called creditor. For example, Madan is a creditor of the Advantages of manual accounting: 2. Gateway of tally or main area: the left hand side provides determine the entire accounting and their presentation. The
firm when goods are purchased on credit from him. • Correction of errors information of current period, current date and list of reserved primary and sub groups are given below.
Capital: It means the amount which the proprietor has companies. The right hand side area displays the company Primary groups of capital nature :
• Data corruption
invested in the firm or can claim from the firm. It is also information menu
• Duplicate copies of data 1. Capital account:
known as owner’s equity or net worth. Owner’s equity • Select a company
• Cost effective • Create a company • Capital
means owner’s claim against the assets. It will always be
equal to assets less liabilities, say: Capital = Assets - Computerized accounting system: it is an accounting system • Back up • Reserves & surplus
Liabilities. that processes the financial transactions and events as per • Restore 2. Current Assets: • Bank accounts • Cash in hand • Deposits
Liability: It means the amount which the firm owes to GAAP principles to produce reports as per users requirements. 3. Calculator area • Loans & advances • Stock in hand • Sundry debtors
outsiders that is, excepting the proprietors. Proprietor: The Modern computerized accounting is based on database which 4. Button bar : relevant buttons for the current work are 3. Current liabilities • Duties & taxes • Provisions • Sundry
person who makes the investment and bears all the risks define by a set of computer programmes that manages available in this area. creditors
connected with the business is known as proprietor. organizes data effectively and stored data by the application Hot keys : hot keys are the text that are capitalized and are red 4. Fixed assets
Account: It is a statement of the various dealings which programmes. in colour on all the menu screen. Typing any of the hot keys in
5. Investments
occur between a customer and the firm. Basic requirements of database oriented application the company info screen will either take we to the particular
Drawings: It is the amount of money or the value of goods screen or it may display the sub-menu within that option. 6. Loans (liability)
Front end interface : it is an interactive link between the user • Bank OD accounts • Secured loans • Unsecured loans
which the proprietor takes for his domestic or personal Buttons in tally
and database-oriented software through which the user
use. It is usually subtracted from capital. • Help – Alt + H 7. Suspense account
communicates to the back end database.
Revenue: It means the amount which, as a result of • Web browser – Alt +W 8. Miscellaneous expenses (assets)
operations, is added to the capital. It is defined as the Back end data base : it is the data storage system that is • F1 – select company 9. Branch/ Divisions
inflow of assets which result in an increase in the owner’s hidden from the user to the requirements of the user to the • Alt F1 – shut a company
extent the user is authorized to access. Primary groups of revenue nature
equity. It includes all incomes like sales receipts, interest, • Ctrl +N – calculator
10. Sales account
commission, brokerage etc., Data processing : it is a sequence of actions that are taken to • Ctrl +M – Gateway of Tally
Expense: The terms ‘expense’ refers to the amount transform the data into decision useful information. • F11 – features 11. Purchases account
incurred in the process of earning revenue. If the benefit of Reporting system: • F12 - configure 12. Direct income(income direct)
an expenditure is limited to one year, it is treated as an Comparison b/w manual & computerized accounting Company creation : it is necessary to maintain company data for 13. Indirect income (income indirect)
expense such as payment of salaries and rent. operating accounts under tally. The following information is to 14. Direct expenses (expenses direct)
Basis Manual Computerized
Purchases: Buying of goods by the trader for selling them be entered in company creation screen.
accounting accounting 15. Indirect expenses (expenses indirect)
to his customers is known as purchases. Purchases can be • Name
Identifying Based on Based on Creating a group
of two types. Cash purchases and credit purchases. • Mailing name & address
Sales: When the goods purchased are sold out, it is known GAAP principle GAAP principle We can create single groups & multiple groups
• State
as sales. Here, the possession and the ownership right over Creation of single group
Recording Through books Stored in well • Pin Code
the goods are transferred to the buyer. GOT --- accounts info ---- group --- single group --- create
of accounts designed • E-mail address • Income Tax number • Maintain: accounts
Stock: The goods purchased are for selling, if the goods are database only or accounts with inventory • Financial year from • Book Group creation menu displays
not sold out fully, a part of the total goods purchased is beginning from • Tally vault password • Use security control • • Name
Classification With the help Processing is
kept with the trader unlit it is sold out, it is said to be a Use tally audit features • Base currency information
of journal done by the • Alias
stock. If there is stock at the end of the accounting year, it Working with a company:
is said to be a closing stock. This closing stock at the year- classify the computer • Under
accounts in application A company can selected in two ways
end will be the opening stock for the subsequent year. Display a single group
the ledger 1. Automatically by Tally
Asset: Any physical thing or right owned that has a money GOT --- accounts info ---- group --- single group --- display
accounts 2. Using the select company option
value is an asset. In other words, an asset is that Alter a single group
Gateway of tally(GOT) : it is the menu that appears on selection
expenditure which results in acquiring of some property or Summarizing Trial balance is Automatic GOT --- accounts info ---- group --- single group --- alter
of the company.
benefits of a lasting nature. used summarization Delete a single group
Components or information shown in GOT
Goods: It is a general term used for the articles in which Adjusting Adjusting Done with • Masters GOT --- accounts info ---- group --- single group --- alter ---
the business deals; that is, only those articles which are entries entries are to help of journal o Accounts info Alt + D
bought for resale for profit are known as Goods. be made vouchers o Inventory info Creation of multiple group
Trial balance: Trial balance is a statement of debit and manually
credit balances extracted from all accounts in the ledger • Transactions Tally also provides the facility of creating multiple group at
Financial Manually Automatically o Accounting vouchers the same time,
accounts for testing the arithmetical accuracy. Final
accounts: Final accounts are the accounts prepared at the statement prepared done by the o Inventory vouchers To create multiple group
final stage to judge the financial position of the business. database • Imports of data GOT --- accounts info ---- group --- multiple group --- create
The final account consist of trading profit & loss account Closing the Make Store opening • Reports Display a multiple group
and balance sheet. books preparation balance of o Balance sheet
GOT --- accounts info ---- group --- multiple group --- display
Trading account: Trading account is prepared to show the for the next accounts in o Profit & loss account
Alter a multiple group
result of buying and selling of goods during an accounting acc period database o Stock summary
GOT --- accounts info ---- group --- multiple group --- alter
period. The result of trading may gross profit or gross loss. Advantages of computerized accounting system o Ratio analysis
Delete a multiple group
Profit & loss account: The trading account show only gross • Display
 Speed GOT --- accounts info ---- group --- multiple group --- alter ---
result. It does not show final profit or loss. Hence it is • Multi accounting printing
necessary to prepare profit & loss account after preparing  Accuracy • Quit Alt + D
trading account. It is prepared to know the net profit or net  Reliability Shut a company : by pressing Alt +F1 Ledger
loss of the business for an accounting period.  Up to date information Alter a company : GOT – Alt + F3 --- alter A group of account is known as ledger or it is a book which
Balance sheet: To know the financial position of business,  Real time user interface Delete a company : GOT --- Alt +F3 --- Alt + D contains the collection of accounts. Tally provides the
accountant prepare a separate statement known as Quitting Tally : Press (esc) or Ctrl + A facility to create ledger. By default two ledger accounts are
 Automated document production
balance sheet. It contain two sides that is asset side and F11 features : we can change the company operation alteration. already created namely, cash and profit & loss account. We
liability side.  Scalability
It includes must create all other account heads. Like groups we can also
Business: it includes any activity undertaken for the  Legibility • Accounting features create single & multiple ledgers in Tally
purpose of earning profit.  Efficiency • Inventory features Creating single ledger
Financial statements : financial statements are final result  Quality reports  Storage & retrieval  motivation & • Statutory & Taxation GOT --- accounts info ---- ledger --- single ledger --- create
of accounting work done during the accounting period. It employees interest  limitations of computerized accounting F12 configuration : we can configure General, Numerical
include 1) trading a/c 2) profit & loss a/c 3) balance sheet ledger creation menu displays
system  cost of training  staff opposition  disruption  Symbols, Accounts/ inventory information, voucher entries,
• Name • Group • Opening balance • Maintain balances bill
Accounting equation Assets = liabilities + capital Capital = invoice/ orders entry, printing & other features
system failure  inability to check unanticipated errors 
assets – liabilities Liabilities = assets – capital by bill • Inventory values affected?
breaches of security  ill effects on health

shifxs__ | shifxs__ | shifxs__ | shifxs__

 computerized accounting with tally
Display a single ledger Advantages of double entry mode : Stock categories : the stock categories are similar to cost simple units. Before we create compound unit, ensure that
GOT --- accounts info ---- ledgers --- single ledger --- • We can select any number of ledgers to be debited & categories. This option will come up in the menu only if we have two simple units have been previously created
display Alter a single ledger credited in the voucher. opted for stock categories in F11 Features. . Unit creation window displays
GOT --- accounts info ---- ledgers --- single ledger --- alter Creation of single/multiple stock category • Symbol • Formal name • No. of decimal places
• We can view on screen whether a ledger has been debited or
Delete a single ledger GOT --- Inventory info --- stock categories --- single/multiple
credited- thereby enabling we to cross verify Displaying/altering unit of measures
GOT --- accounts info ---- ledgers --- single ledger --- alter -- create display a single/multiple stock category
-Alt + D Payment/ receipt as contra : we can use payment and receipt GOT---Inventory info---unit of measures-- display/alter
GOT --- Inventory info --- stock categories --- single/multiple
Creating a multiple ledger voucher for contra entry by doing F12 --- use Payment/ receipt Display alteration of single/multiple stock category Deleting unit of measures
GOT --- accounts info ---- ledger --- multiple ledger --- as contra --- yes GOT --- Inventory info --- stock groups --- single/multiple --- alter GOT---Inventory info---unit of measures-- alter---Alt + D
create Display a multiple ledger Warn on negative cash balance : to warn negative cash deletion of single/multiple stock category Price lists
GOT --- accounts info ---- ledgers --- multiple ledger --- balances in tally do the following F12---warn on negative cash GOT --- Inventory info --- stock groups --- single/multiple --- alter Price lists are useful for orders & invoices. An up to date
display Alter a multiple ledger balance ---yes --- Alt + D price list helps in speed up the sales process. Tally creating
GOT --- accounts info ---- ledgers --- multiple ledger --- Sales voucher as an invoice Stock items : like ledgers, stock items are the primary inventory quantity based pricing with complex discount structure. We
alter Delete a multiple ledger When a sales transaction take place, a document, detailing the unit. We will use stock items for recording their receipts & can have one or more price lists. More than one price list is
GOT --- accounts info ---- ledgers --- multiple ledger --- transaction such as item name, tax etc. has to be given to the issues. This is the lowest level of information about inventory. It required when we have different price levels for different
alter ---Alt + D buyer as a proof of purchase by him. This document is called is necessary to create stock item for each different items to be purposes.
Accounting vouchers invoice. The practice of issuing an invoice is available in Tally. maintained in the store. In fact we can create a stock ledger Price levels: customers can be assigned to specific price
Voucher : voucher is the basic recording document. To Tally displays the sales invoice screen. The invoice mode is account for each item and tally calls this account “stock item”
lists, is called price levels in Tally. So that only the relevant
input any data into Tally, we must use a voucher. Creation of single stock item
default. There are two types of invoices, namely price is used during entry of orders & invoices. Before we
Voucher entry : inputting data through the voucher entry GOT --- Inventory info --- stock item --- single
Item invoices – we can select items for invoicing begin to create price lists, we should decide whether we
mode may be called crating a voucher or voucher entry. createdisplay a single stock item
Account invoices – we can select ledgers for invoicing want to different price levels. Different price levels such as
Vouchers can be entered in 2 main units GOT --- Inventory info --- stock item --- single
Unconventional vouchers in Tally wholesale customers, retail customers etc can be created as
• Accounting vouchers Display alteration of single stock item
price levels.
• Inventory vouchers • Memo Voucher : this is a non accounting voucher and the GOT --- Inventory info --- stock item --- single --- alter
entries in this voucher will not affect our accounts. Tally does Enable & create price lists Ensure that the company has
Types of accounting vouchers: deletion of single stock item
• Contra voucher (F4) : it is used to record the movement not post these entries to ledgers but stores in separate been set up for accounts with inventory.
GOT --- Inventory info --- stock item--- single --- alter --- Alt + D
of cash from cash account to bank & vice versa. Cash memorandum register. We can alter and convert a memo Single Stock item creation window displays the following F11 features- allow invoicing – yes.
deposit in bank and withdrawal transactions are recorded voucher into a regular voucher at any time • Name • Alias • Under • Units • Rate of VAT • The option for price list will not be available without
through contra voucher. . Memorandum register : It is a register which contains all the Opening balance Creation of multiple stock item invoicing. Tab down to-
Contra entry – single mode : to create contra voucher transaction entered through memo voucher To view a report of GOT --- Inventory info --- stock item --- multiple Set/modify other company features –yes Use multiple
under single mode GOT --- Voucher entry --- press F4 all memo vouchers create display a multiple stock item price levels for invoicing.- yes
button GOT --- Inventory info --- stock item --- multiple Display Creation of price list
(memorandum register) – display-- exception report ---
Contra entry double mode : in double entry mode, we can alteration of multiple stock item
memorandum vouchers ---select any month GOT---inventory info---price list---create Price list creation
select multiple debit & credit ledgers. To do so, on the GOT --- Inventory info --- stock item --- multiple --- alter
Uses of memo vouchers window displays • Under group • Price level • Application
contra voucher screen, click F12 and set the option “use deletion of multiple stock item
single entry mode for payment/receipt/contra” to NO. GOT o Making suspense payments from- date • Sl No • Name of item • Quantities (from & less
GOT --- Inventory info --- stock item--- multiple --- alter --- Alt +
--- accounting vouchers --- F4 o Vouchers not verified at the time of entry than) • Rate & discount (if any) • Previous price list rate &
D
• Payment voucher (F5) : this voucher is used to record all o Items given on approval discount • Cost price
Multiple Stock item creation window displays the following
cash payments. When payment is made, the payment • Optional vouchers : this is another non accounting voucher. • Under group • S No. • Name of the item • Under • Opening Inventory vouchers (pure inventory vouchers)
account is debited and cash or bank account is credited. It differs from memo voucher that here, we mark an existing balance Inventory vouchers are very similar to accounting vouchers.
Payment – single mode : to create payment voucher under voucher, as optional or press Ctrl + L. this button toggles with Additional fields in the stock creation These vouchers are used as means of entering inventory
single mode GOT --- Voucher entry --- press F5 button
regular. By marking optional the voucher does not get posted • Part No. • Alias • Category • Alternative units • Set standard transactions. This type of voucher, record the receipt and
Payment, double mode : in double entry mode, we can
anywhere but remains in the optional register. rates? ? (Y/N) • Use BoM? ? (Y/N) • Costing method o Average issue stock, transfer of stock between locations and physical
select multiple debit & credit ledgers. To do so, on the stock adjustment.
Optional voucher register – It is a register which contains all cost price o FIFO o Last purchase Cost o LIFO annual o LIFO
payment voucher screen, click F12 and set the option “use
the transaction entered through optional vouchers. to view Perpetual o Standard cost price • Ignore difference due to • Receipt note voucher • Rejection in voucher • Delivery
single entry mode for payment/receipt/contra” to NO. GOT physical counting? (Y/N) • Ignore negative balances? (Y/N) •
--- accounting vouchers --- F5 optional vouchers go to – Display --- exception reports --- note voucher • Rejection out voucher • Stock journal
optional vouchers Treat all sales as new manufacture? (Y/N) • Treat all purchases voucher • Physical stock voucher
• Receipt voucher (F6) : this voucher is used to record all as consumed? (Y/N) • Treat all rejections inward as scrap? (Y/N)
cash receipts. At the time of receipt, the cash or bank Reversing journals : reversing journals are special journals that We have to activate tracking numbers in F11 features, in
• Opening balance
account is debited and receipt account is credited. Receipt are automatically reversed after a specified date. They exist order to activate the goods in receipt note & goods out
Reorder levels
– single mode : to create only till that date and are effective only when called for in delivery note vouchers.
Reorder level is that quantity in hand for a stock item, reaching
receipt voucher under single mode GOT --- Voucher entry - reports like balance sheet. Receipt note voucher : this voucher is used to record the
which, we should order for new supplies. The importance of
-- press F6 button Reversing journal register : It is a register which contains all receipt of goods from suppliers. In this vouchers we have to
reorder level arises from the fact that there must have sufficient
Receipt, double mode : in double entry mode, we can the transaction entered through reversing journals. to view the stocks to execute customers’ orders and at the same time to enter order details, suppliers details, godowns, rate, qty etc.
select multiple debit & credit ledgers. To do so, on the entries made in reversing journal go to – Display --- exception avoid unnecessary high stocks. Rejections in voucher : it is used to record the goods receipt
payment voucher screen, click F12 and set the option “use reports --- reversing journal by way of sales return( return by customers)
Specifying reorder level in Tally
single entry mode for payment/receipt/contra” to NO. GOT
• Post-dated vouchers : while entering vouchers, we can post GOT---Inventory Info --- Reorder levels Delivery note voucher : this voucher is used to record goods
--- accounting vouchers --- F6
date them, and tally will not update the ledgers until the Select the group items for which to specify reorder levels delivered to a customer. Reference, ledger account,
• Journal voucher (F7) : journal vouchers are used in
specified date. It can be used for to record future transactions. Reorder level specifying window displays the following customers name & address, item, rate, qty etc are recorder
instances where the company wants to adjust the debit
Post-dated voucher register – It is a register which contains all • Level/quantity • Or consumption of last • Whichever is higher/ in this voucher.
and credit amounts without involving the cash or bank
the transaction entered through post-dated vouchers. to view lower • Rounding method Rejection out voucher : this is used to record the goods
accounts. Hence they are referred as adjusting entries.
go to Display --- exception reports --- Post-dated voucher Obtain reorder status & quantities to order that are rejected & returned to a supplier(purchase return).
Purchase return, sales return, depreciation etc are entered
Voucher classes GOT---Display---Statement of Inventory-- reorder Status Stock journal voucher : a stock journal is used to transfer
through journal voucher.
Reorder status windows shows the following material or stock from one location to another location.
(a) journal voucher : this voucher is used to make Voucher class helps us to automate accounting allocations
• Name of the stock item • Stock in hand • Purchase order Stock journal voucher shows • Common information(ref,
adjustment between two accounts. Internal adjustment during invoice entry. It is a table for predefining the entries
pending • Sales orders due • Shortfall • Minimum reorder
like depreciation is recorded through this voucher, that we wish to automate. date, voucher no.etc) • Source (consumption) • Destination
quantity • Order to be placed
(b) Credit note voucher : it is used to record sales return INVENTORY MANAGEMENT (production)
Alter reorder level & minimum quantities
(c) Debit note voucher : it is used to record purchase
To get inventory information in Tally do the following GOT- • Additional cost details
return GOT --- accounting vouchers --- F7 GOT---Inventory Info---reorder levels Location/Godowns
Inventory Info Inventory info contains stock groups, stock Location or godown Physical stock voucher : this voucher record actual stock
• Sales voucher (F8) : a sales voucher is used to record all which is found on physical verification or counting. There
items, stock category, voucher type, unit of measures, godown is a place where stock items are stored. We may want to
types of sales. That is cash sales and credit sales except
etc. distinguish between stock held on sit and at the warehouse and may some difference between the actual stock and the
fixed assets are recorded. GOT --- accounting vouchers ---
Stock group : stock item can be grouped together as stock this can be done by creating two separate stock locations. Tally computed figure.
F8
group based on some common similarities. Grouping would permits any number of locations that can be grouped and sub Buttons for inventory vouchers
• Purchase voucher (F9) : it is used to record all types
help us easy allocation and reporting of stock items in grouped to match the structure we need. • Receipt note voucher – F9 • Rejection in voucher –F9 •
purchases such as cash & credit purchases except fixed
assets purchases. GOT --- accounting vouchers --- F9 statements. We can create stock group in Tally as single & Create a single location Delivery note voucher –F8 • Rejection out voucher- F8 •
Display a voucher multiple GOT---inventory info --- Godowns---single godown---create Stock journal voucher- F7 • Physical stock voucher – F10
GOT --- Display --- Day book --- Alt + F1 Creation of single stock group Godown creation window involves How to enter pure inventory vouchers (procedure)
Alter a voucher • Name • Alias • Under • Allow storage of material
GOT --- Inventory info --- stock groups --- single create 1. GOT-Voucher entry 2. Change the date if necessary 3.
GOT --- Display --- Day book --- select voucher --- alter Create multiple godown
display a single stock group Select voucher type from the button bar like receipt note etc
Delete a voucher GOT---inventory info---Godowns---multiple godown---create
GOT --- Inventory info --- stock groups --- single Display 4. Type the required fields 5. Press enter
GOT --- Display --- Day book --- select voucher --- Alt + D Displaying godown or location
alteration of single stock group GOT---inventory info---Godowns-- single/multiple godown--- Inventory voucher window displays
Insert a voucher
GOT --- Inventory info --- stock groups--- alter display • Type of voucher • Voucher number • Reference number •
GOT --- Display --- Day book --- select voucher entry
deletion of single stock group Altering godown Date of voucher • Ledger account • Suppliers or customers
position in between other vouchers & press Alt + I
Vouchers entry screen displays: • Type of voucher • GOT --- Inventory info --- stock groups --- single --- alter --- Alt + GOT---inventory info---Godowns-- single/multiple godown--- name & address • Name of the item • Tracking number o
Voucher number • Reference • Date of vouchers • D alter New number o Not applicable • Pending tracking number •
Particulars- To/By or Dr/ Cr • Ledger name & amount • Single stock group creation screen displays Deleting godown Order details • Location • Batch number • Mfg. date •
Narration • Name • Under • Can quantities of items be ADDED?
GOT---inventory info---Godowns-- single/multiple godown--- Expires on • Quantity • Rate • Per • Amount • End list •
Additional buttons : • F2 : change Date • F3 : change alter---Alt+D Narration
Creation of multiple stock group
company Use To/By instead of Dr/Cr: F12 --- Use To/By Unit of measures INTEGRATION OF ACCOUNTING WITH TALLY
instead of Dr/Cr --- yes GOT --- Inventory info --- stock groups --- multiple create It is necessary to create units of measures for stock items. The
display a multiple stock group Bill wise details
quantity of items in the stock is expressed in units of measures.
GOT --- Inventory info --- stock groups --- multiple Display Bill wise details are available only for party accounts such as
These can be simple units such as numbers, meters etc.
alteration of multiple stock group Creation of unit of measure sundry debtors & creditors etc. It is available only by
activating bill wise details in the F11 features. We give bill
GOT --- Inventory info --- stock groups --- multiple --- alter GOT---Inventory info---unit of measures-- create
Types of unit of measurement details during voucher entry itself. This is the advantage of
deletion of multiple stock group
• Simple unit : if we wish to give unit symbol that are single and immediate reconciliation of bills/ invoices with payment/
GOT --- Inventory info --- stock groups --- multiple --- alter ---
not a combination of other units, select simple. receipts. Our outstanding position is correct and available at
Alt + D
• Compound unit : a compound unit is a relation between two all times. The following details are to be entered in the bill
wise details section

shifxs__ | shifxs__ | shifxs__ | shifxs__

 computerized accounting with tally
1. Type of bill reference Enabling budgets in Tally : F11 --- accounts features ---- Delete a sales order 2. Supplier ledger
• Advance : this is relevant where we receive or pay money maintain budgets & controls ---yes GOT---Display---Day book or inventory books ---sales order GOT---acc info---ledger---create
in advance Creation of budgets in tally book---Alt + D • Enter the name of the ledger. Eg : TK traders • Select
• New reference : we select this for new transactions Reconciliation of bank accounts
GOT---Accounts info---budgets---create Then the following under sundry creditors a/c • Set ‘inventory values are
• Against advance : this option is used when we want to screen appears • Name • Under • Period of budget • Se/alter Reconciliation is the process of reconciling the two accounts. affected’ to No • Enter the mailing name • Enter PAN and
adjust against a previous reference. Reconciling the company’s bank accounts with the banker’s
budgets of We can set budget for o Budget for group o Budget TIN number • Accept
• On account : it is used when we unable to mark a statement is a fundamental and regular task of accounting. In
for ledgers o Budget for cost centres 3. Sales ledger
payment or receipt against pending reference. tally there are two objectives of reconciliation of bank accounts.
Budget for group GOT---acc info---ledger---create
2. Name First it help us to “check back” the correctness of the
3. Due date or credit days When we select budget for group the following information reconciliation. This has been done, by marking the bank date • Enter the name of the ledger. Eg : sales @ 5 % • Select
4. Amount will displays on the window • Account name • Cost centre • against the voucher. Second we should able to recover the under sales a/c • Set ‘inventory values are affected’ to yes •
5. Dr/Cr Type of budgets : there are two types reconciliation as of any date. Set the option used in VAT returns to Yes • Select the
Invoicing o On net transactions : use when transaction amount are to be Bank reconciliation procedure in Tally. required VAT class. • Accept
Invoicing or sales invoicing is not very different from sales monitored and not the balances. • Bring up the monthly summary of any bank book. • Bring the 4. Input VAT ledger GOT---acc info---ledger---create
voucher entry. In fact, we use the same voucher but select o On closing balances : used to monitor the balance of the cursor into the first month • Press F5 to visible the reconciliation
• Enter the name of the ledger. Eg : input VAT @ 5% • Select
“as invoice”. The main advantage of using the invoice accounts and not too keen on the transactions. • The display now becomes an ‘edit’ screen in ‘reconciliation’
format for sales invoice entry is that it enables automatic under duties & taxes a/c • Select VAT from the pop up list
mode. The primary components are: a column for the bankers
Alter a budget provided • % for calculation – 5% • Method of calculation –
calculation of duties & taxes. Purchase invoices are date. • Reconciliation button at the bottom showing Balance as
recorded through normal purchase entry & does not have If we wish to alter a budget, say yes to “set/ alter budgets for
per company books Amount not reflected in bank Balance as per on VAT rate • Accept
the provision of being converted into an invoice format. group”. The default is no. the same sub screen pops up for bank. 5. output VAT ledger GOT---acc info---ledger---create •
Before proceed with the invoicing, ensure that we have alteration. Alter necessary fields and accept. Bill of material (BoM) Enter the name of the ledger. Eg : output VAT @ 5% • Select
activated invoicing entry capability in F11 features. GOT---accounts info---budget---alter A bill of material contains a list of material and components under duties & taxes a/c • Select VAT from the pop up list
Procedures for purpose of invoice preparation Delete a budget needed for a particular work order. In other words, it is a list of provided • % for calculation – 5% • Method of calculation –
1. In F12 – show inventory details – yes 2. In F11 – allow GOT---accounts info---budget---alter---Alt + D component items required to undertake production. on VAT rate• Accept
invoicing – yes 3. If we want separate column for discounts Budget variance Enable BoM facility in Tally VAT vouchers
in invoices say yes 4. In accounts info –ledgers, ledgers of GOT---F12 configuration---allow components list details---yes A
the type purchases & sales accounts have inventory values
The trial balance and group summaries carry an additional • Purchase • Sales • Debit Note • Credit Note • Journals
BoM should available while manufacturing an item. Hence, we
“budget variance” button (Alt + B)which is active if budgets are Payment of VAT in Tally
are affected –yes 5. If we want tax accounts like VAT or want to enable manufacturing entries. This is done through a
active and at least one budget exist. Budget variance show the Payment of VAT in tally is done with the help journal
sales tax to use automatic calculation, ensure % of stock journal. We can be done this by editing a stock journal as
calculation is entered. variance of actual from the budgeted figures. voucher.
manufacturing journal or creating new manufacturing journal
Invoice format for sales invoicing (voucher)window Interest calculations under sock journal. VAT report: to obtain VAT report go to: GOT---Display---
displays • Sales voucher number • Date • Reference • Tally allows us to obtain reports on interest calculated by tally Creation of manufacturing journal in tally statutory reports---VAT reports.
Party’s a/c name • Party’s other details • Delivery note no. based on the instruction we furnish. Interest figures are GOT---accounts info---voucher type---create Following Assessable value : it is the value of the transactions made
• Dispatch details • Order details • Buyers’ details • typically desired in the following situations. • On outstanding information is entered in a manufacturing journal with the respective VAT classification.
Inventory allocation • Accounting details balance amount • On outstanding bills/ invoices/ transactions • Name • Type of voucher • Abbr. (abbreviation) • Method of VAT return: VAT return is displayed in the Govt. prescribed
Printing invoices & vouchers Enabling interest calculation in Tally voucher numbering • Use as manufacturing journal yes format.
Alt + P Creation of BoM
GOT---F11--- Activate interest calculations ?--- set it to yes Use To obtain the VAT return go to: GOT---Display---statutory
View invoice as voucher & vice versa We can create BoM for any stock item. BoM can specify when a
advanced parameters?---set to No Interest can be calculated in reports---VAT reports---VAT return
Ctrl + V stock is created. Let us create a new stock item and specify its
simple mode and transaction by transaction VAT computation report GOT---Display---statutory reports--
Cost centres BoM GOT---inventory info ---stock items ---create At the bottom
Interest calculation procedures(simple mode) -VAT reports---VAT computation
The facility of cost centres allows an additional dimension of stock creation window shows an information as ‘set
to a transaction. A transaction can be allocated to a cost • Alter a ledger which we want to calculate interest • Tab down components(BoM), set it to yes. When a pop up list will comes, CST, SERVICE TAX & CENTRAL EXICE
centre and as a result it is possible to extract all transaction to the option activate interest calculations? • Set it to yes • It contains • Unit if manufacture • Item(set components), Central Sales Tax(CST) : sales Tax in India can be divided
relating to the cost centre. Hence a cost centre can be said Now we have to set interest parameters(details) o Rate location(godown) and quantity. into 2 . central sales Tax and Local sales tax. Local sales tax is
to be any unit of an organization to which transactions can o Style  30-day month  365-day year  Calendar month  Inventory ageing analysis now renamed as VAT. VAT in India is collected by the state
be allocated. When only costs or expenses are allocated to Calendar year • Accept the screen It is one of the important stock or inventory management tool. Govt. but central sales tax is levied to central Govt. it is an
these units, they are referred to as cost centres. When we Interest calculated report GOT---Display---statement of A firm want to ensure good working capital management. To indirect tax. CST is a tax which is charged on interstate sales
allocate income to the units, they become profit centres ensure this, stock management has to make an important role. of commodities. It is the responsibility of seller to pay the
accounts-- interest calculation---ledger
Examples for cost centres Inventory ageing analysis means ageing the stock or inventory in
Interest calculation transaction by transaction Transaction by central sales tax to central Govt.
Department of an organization such as finance, marketing hand to reduce the over stocking and under stocking. It help us
transaction or bill by bill interest calculation is permitted for Inter-state sales : According to CST act, a sale become
etc. Product of a company such as soa, shampoo etc. Cost to bring optimum stock level in the organization.
party accounts like sundry debtors & creditors. Procedures of interstate when, 1) the sale occurred the movement of
centre can be created in tally as single or multiple. To view age analysis in Tally
calculation goods from one state to another or 2)the sale is affected by
Creation of single cost centre GOT—Display---inventory books --- ageing analysis Ageing
• Alter a customer account • Set yes to activate interest a transfer of documents of title to the goods during their
GOT---Accounts info---Cost centres-- create(single) Cost analysis report produce a default ageing period of less than 45
centre creation screen appears calculation • The interest parameters have three lines to movement of goods from one state to another. Goods that
days, 45 to 90 days, 90 to 180 days and 180 days above. We can
• Category • Name • Alias • Under answer are sold within a state, but while transporting through
change the setting by using F6.
Alter a single cost centre o Rate another state is not a interstate sale.
INTRODUCTION TO VAT VAT
GOT---Accounts info---Cost centres-- alter(single) o Calculate interest transaction by transaction- set yes VAT CST transaction form : dealers have to issue certain
Deleting a single cost centre introduced in the year 2005(april 1). Vat is one of the indirect declaration(authorization) in prescribed forms to
o Over-ride parameters for each transaction- set it to No
GOT---Accounts info---Cost centres-- alter(single)---Alt + D tax. VAT is tax which is charged on the increase in value of goods buyers/sellers
If set No, we are not allowed to change interest parameters in
Create a multiple cost centres at each stage of production and circulation. VAT is charged on • Form C • Form D • Form E1 • Form E2 • Form F • Form H •
voucher entry.
GOT---Accounts info---Cost centres-- create(multiple) goods only not on services. It is collected by state Govt. Form I Form D is to be issued by Govt. organization
Alter a multiple cost centre Report on interest calculated on outstanding transaction/bills
Input tax (VAT) : this is the tax paid on purchases departments making purchases.
GOT---Accounts info---Cost centres-- alter(multiple) GOT---display---Statement of books---interest calculation--- Output tax : this tax is charged on sales. Rate of CST
Deleting a multiple cost centre ledger---select customer Purchase & sales order We can Input credit : the amount of input tax is permitted to be set off • To registered dealers – 2 % or VAT rate applicable to
GOT---Accounts info---Cost centres-- alter(multiple)---Alt + prepare purchase order and sales order by using tally. against output tax.
concerned commodity in the selling state. • To un registered
D Purchase order Composite VAT : dealers with annual gross turnover not
dealer – on VAT rate which are applicable in selling state •
Cost categories Purchase order may be produced, printed and sent to exceeding a certain prescribed limit can opt for a composition
To Govt. Department - on VAT rate which are applicable in
Cost categories have been useful for organizations suppliers. Goods received are connected with the purchase scheme whereby they will pay tax as a small % of their gross
requiring allocation of resources to parallel sets of cost selling state • If under the local sales tax law, sale or
orders and invoices. Outstanding orders should be monitored. turnover. In this case input credit is not allowed. Now the
centres. If we are not using cost categories, there would be current composition vat is 1%. purchase is exempt from CST, the CST is nil.
Activate purchase order in Tally
only one set of cost centres. By using cost centre, we may VAT rates Activation in tally
GOT---F11---allow purchase order processing ---yes
allocate, in parallel, a transaction to more than one set of • 0 % for essential commodities • 1 % on bullion and precious GOT---F11 features --- statutory & taxation -- enable CST---
Creation of purchase order
cost centres. Cost categories can be created in tally as stones • 5 % on industrial input & capital goods items • 14. 5% yes Ledgers related with CST Create the following ledgers to
single or multiple. GOT---voucher entry---F9---select purchase order Purchase on all other items. record the CST transactions 1) CST sales ledger 2) CST
Creation of single cost category order contains the following Enabling VAT in tally purchase ledger 3) CST supplier ledger 4) CST customer
GOT---Accounts info---Cost category ---single create information GOT---Accounts info--- F11 ---statutory & taxation --- enable ledger 5) CST (under duties & taxes)
Cost category creation screen appears • Party a/c name • Order No • Name of the item • Due on • Value Added Tax (VAT) -- set it to Yes. CST reports : GOT---Display ---statutory reports --- CST ---
• Name • Alias • Allocate revenue items (Y/N) • Allocate Location • Quantity, rate and amount • Additional cost details • VAT classifications form receivables/from issuable
non-revenue items (Y/N) Next item • Expense/tax • Narration • Input VAT @ 1% • Input VAT @ 5 % • Input VAT @ 14.5% • Form receivable : it contains the forms received from
Alter a single cost category
Alter a purchase order Output VAT @ 1% • Output VAT @ 5% • Output VAT @14.5% • various customers showing the date of transaction, CST
GOT---Accounts info---Cost category -- alter(single) Purchases exempt • Sales exempt • Purchases- capital goods •
GOT---Display---Day book or inventory books ---purchase order sales ledger used, gross amount, form type, etc.
Deleting a single cost category Purchases from unregistered dealers.
book Delete a purchase order GOT---Display---Day book or From issuable : it contains the forms issued to suppliers
GOT---Accounts info---Cost category -- alter(single)---Alt + Ledger masters
D Create a multiple cost category inventory books ---purchase order book---Alt + D Sales orders It regarding the purchases, showing the date of transaction,
The VAT classification will be displayed as drop down list in the
GOT---Accounts info---Cost category -- create(multiple) is very similar to purchase orders. Its details will also depend CST purchase ledger used, gross amount, form type, etc
ledger masters. The following are the VAT ledgers.
Alter a multiple cost category on configuration settings. Therefore we have to set CST sales Register : the CST sales register provides complete
1. Sales a/c 2. Purchases a/c 3. Duties & taxes a/c 4. Direct
GOT---Accounts info---Cost category -- alter(multiple) configuration & voucher types. details of all the sales made in a particular tax period. This
expenses/ Income
Deleting a multiple cost category Activate sales order in tally Ledger creation for VAT register captures the invoice-wise sales, CST Regn. No., stock
GOT---Accounts info---Cost category -- alter(multiple)---Alt GOT---F11---allow sales order processing -- yes Creation of 1. Purchase ledger for VAT items invoiced, invoice value, assessable value etc.
+D sales orders GOT---acc info---ledger---create To view the CST sales register
Budgets GOT---voucher entry---F8:sales---select sales order sales order • Enter the name of the ledger. Eg : purchases @ 5 % • Select GOT---Display ---statutory reports --- CST -- CST register---
Budget is a statement containing the expected result for a contains the following information under purchases a/cc • Set ‘inventory values are affected’ to yes CST sales
particular period. It is a type plan, specifically quantitative • Set the option used in VAT returns to Yes • Select the required
• Party a/c name • Order No • Name of the item • Due on • CST purchases Register : the CST purchases register
plan. Budget figures are used to compare with actual VAT class. • Accept
Location • Quantity, rate and amount • Additional cost details • provides complete details of all the purchases made in a
figures and to display variances. Tally provides us the
Next item • Expense/tax • Narration particular tax period. This register captures the invoice-wise
facility to create multiple budgets. Budgets can be
prepared for specific purposes. For eg ; for the bank, for Alter a sales order purchases, CST Regn. No., stock items invoiced, invoice
the head office etc. GOT---Display---Day book or inventory books ---sales order value, assessable value etc.
book

shifxs__ | shifxs__ | shifxs__ | shifxs__

 computerized accounting with tally
To view the CST sales register ACCOUNTING & INVENTORY REPORTS • statistics : shows the statistics of types of vouchers & types • User defined security levels: tally offers high levels of
GOT---Display ---statutory reports --- CST -- CST register--- Display facility of tally is very useful to present information of accounts GOT---Display---statement of accounts—statistics security. The user can defined multiple level of security as
CST purchases that has been so far entered through different vouchers. • cost centre reports : it contains per his requirements and every authorized user in the
Service Tax Reports in tally displays category summary company can have individual password with rights to use
Service tax is a tax levied on the transaction of certain o Balance sheet cost centre break up: ledger accounts used in vouchers & specific features only.
specified services by the central Govt. under the finance allocated to the cost centre. • Simple & speedy installation: tally has a simple menu
o Profit & loss account
Act, 1944. It is an indirect tax which means that normally Ledger break up : enable us to analyse the distribution of a driven installation procedure.
o Stock summary
the service provider pays the tax and recover the amount ledger account amongst different cost centres.
o Ratio analysis • Unlimited multi-user support : a multi-user version(Gold)
from the recipient of taxable service. Group break up : enable us to analyse the distribution of a
o Display of tally can be installed on a network having any number
Taxable service : in case the service provided by a person group account amongst different cost centres.
computers working with different OS.
falls within the scope of the taxable service and if such is Balance sheet(preparation) Inventory books : it contains
not fully exempted, the service tax is payable on the value • Internal backup and restore : tally has an in built user
The balance sheet gives the financial position of the business o stock items
of the taxable service received subject to the eligible friendly backup & restore option. The user can take a
on a given date. It shows the lists of assets & liabilities. The o group summary
statements, if any. backup in the local hard disk or in any external media.
balance sheet in tally is updated instantly with every o sales order book
Rate of service tax : current rate is 12.36%(including cess) transaction voucher that is entered and saved. No special o purchase order book • Removal of data into separate company : tally offers a
Exemption from service tax : in some cases central Govt. processing is required to produce a balance sheet. To view o stock transfer feature of splitting company data. Once the booksof
can grant exemption from service tax under section 93 of accounts are completed for previous financial years and if
balance sheet go to; GOT---balance sheet o physical stock register
finance Act, 1944. It may Partial or total service tax the user wishes, he could split the company data into
Configuration related with balance sheet o movement analysis
Conditional or unconditional multiple companies as per users requirements.
The following configuration is available in F12; configure o ageing analysis
Following are the exemption • Multi-directory for company management : the user can
related with balance sheet • Show vertical balance sheet? • to view inventory books
• Small service providers(turnover less than 10 lakhs) •
GOT---display----inventory books create multiple directories where he can store data.
Export services • Service to UN agencies • Service provided Profit or loss, both as liability • Show percentage? • Show
within Special Economic Zone(SEZ) • Service provided by working capital figures • Method of showing the balance sheet
Statement of inventory • Import/export of data : tally allows user to import data
It contains from other software as well as export from tally to other
RBI • Service provide to foreign diplomatic mission • Goods Balance sheet can be viewed in two forms: • Horizontal form •
o stock query software. Allow import and export in ASCII, SDF and XML
supplied while provided services Vertical form
Abatement or specific exemption: o cost estimation formats.
Profit & loss account
abatement is a deduction allowed by the Govt. on the o purchase order summary • Graphical analysis of data: tally also provides
The profit & loss account shows the operational results of the o sales order summary
value to be considered for service tax. It is also known as graphical(Bar diagram)analysis of data. User can do a
business for a given period. It shows the lists of expenses & o reorder status
specific exemption. It is mainly given on the services which graphical reports like sales register, ledgers, fund flow etc.
incomes. The profit & loss account in tally is updated instantly o purchase bill pending
are not directly identified the value service cost from the • Web enabled : tally is now web enabled. It helps to
with every transaction voucher that is entered and saved. No o sales bill pending
value of material. reduce the paper works of users.
special processing is required to produce a profit & loss to view go to
Adjusting credit : while you pay service tax on the sale of
account. To view P&L a/c go to; GOT---Profit & loss account • Ability to publish reports & documents on the internet :
service that comes under service tax category, you can GOT---Display---statement of inventory
Income/exp statement instead of P&L Cash/fund flow tally offers a facility to upload reports on the web site. So a
adjust service tax credit on purchase of services. This is
a/c In the case of non-trading concern like clubs and charitable Cash flow : cash flow statement is a statement that shows the company can publish their report directly through tally in
called adjusting credit against service tax. Service tax
organization, we need an income & expenditure account inflow and outflow of cash. It shows the movement of cash the websites.
(sales) that is adjustable against service tax credit
(purchases) is also called availing input credit. instead of P&L a/c. for this activate “Income/expense including those with the bank in and out of the business GOT--- • Direct internet access : user can access internet when
Enable service Tax : go to GOT---F11 features---statutory statement instead of P&L a/c” in F11 features. display---cash/fund flow---cash flow using tally.
& taxation---enable service Tax---yes Company service tax Stock summary : Fund flow : cash flow statement is a statement that shows the • Print preview : tally offers a facility of print preview before
details screen in tally displays • Service tax Regn. No. • stock summary is a statement that shows stock in hand on a inflow and outflow of fund or working capital. Working capital is printing. User can check the format, size, borders, numbers
Date of registration • Assessee code • Type of organization particular date. The statement is updated with every the difference between current assets & current liabilities. GOT-- etc. before printing.
eg :partnership firm • Major service category name eg : transaction so that it provides current stock position at any
-display---cash/fund flow---fund flow Security control
advertising • Credit adjustment • Division (division code & time. To view go to: GOT---stock summary
List of accounts :
Tally has a very powerful security system. It is customizable
name) • Range (code & name) • Commissionerate (code & shows the chart of accounts which contains
Ratio analysis also. We can set up different levels for security control and
name) • Accept the service tax details screen • PAN o list of groups
The ratio analysis statement is a single sheet performance users can be placed these levels. Tally has two security types
number • Accept the screen to save o list of cost categories
report for a selected period. It gives important values & key already set up. One is owner & the other is data entry.
Basic service tax transactions o list of cost centres
performance indicators for the company. It is one report that Owner has full access and rights to all parts of tally, except
 Purchases of services  Payment to service providers  o list of budgets
Sale of services  Receipt from service receiver  top mgt need to look at to know the company’s financial tally audit and company alteration screen which are
o list of locations
Adjusting of input service tax credit towards tax payable  health. The ratio analysis screen is divided into two parts : reserved for the administrator alone. Data entry has
o list of stock groups
Payment of service tax principal group & principal ratios restricted rights.
o list of stock items
Purchase of services: in connection with purchase of Principal group: o list of currencies GOT---create company ---security control
services the following ledgers have to be created • Working capital • Cash in hand & bank balance • Sundry o list of units Tally audit
• Purchase ledger • Supplier ledger • Service tax ledger debtors • Sundry creditors • Sales & purchase a/c • Stock in o list of voucher types Tally audit provides the capability to the administrator/
Then record the purchase of service in purchase voucher hand • Net profit exception reports : exception report contains: auditor to track changes in the accounts following his
sale of services: in connection with sale of services the • negative stock : this is a list of all stock items that have a previous review. Changes of two areas are important-
Principal ratios
following ledgers have to be created • sales ledger • negative balance at the end of period. changes in transaction or vouchers and changes in ledger
customer ledger • Service tax ledger • Working capital turnover ratio :sales/ working capital •
GOT---display---exception report---negative stock masters.
Then record the purchase of service in sales voucher Inventory turnover ratio : sales/closing stock • Current ratio :
• negative ledgers : this is a list of ledgers that a have opposite How to view tally audit lists?
Service tax report : to get service tax report go to; CA/CL • Quick ratio: liquid asset/ CL • Debt equity ratio :debt/
balance at the end of period GOT—display---statement of accounts---tally audit
GOT---display---statutory reports---service tax reports equity • Gross profit % : GP/Sales X 100 • N/P ratio : N/P/ sales
GOT---display---exception report---negative ledgers
Service tax report contains x 100 • Operating cost % ; as % on sales a/c • Return on Display voucher audit
• overdue receivables: list of all invoices that over due on the
• TR6 challan : this report to is to select a range of TR6 investment(ROI) • Return on working capital • Receivable current date.
GOT—display---statement of accounts---tally audit---
payment vouchers to be printed in one challan to file to turnover in days vouchers
GOT---display---exception report---overdue receivables •
the Govt. it can be viewed GOT---display---statutory Display menu overdue payments: list of all purchase bills that over due on the Three buttons are relevant to the audit list • F7 : accept one
reports---service tax reports---TR6 Challan • Alt F7 : accept all • F12 : configure
Display menu shows  Trial balance  Accounts book  current period
• Input credit form : it shows the details of service tax
Statement of accounts  Service tax reports  Inventory books GOT---display---exception report--- overdue payments Tally vault
input credit available with the company for a specified
 Statement of inventory  Cash/fund flow  Day book  List • list of memorandum vouchers : list of memorandum voucher tally offers a data encryption option called tally vault. The
date. To view GOT---display---statutory reports---service
of accounting  Statutory masters  Exception reports entered tally vault password given cannot be broken by any means.
tax reports---input credit form
GOT---display---exception report-- memorandum vouchers Tally follows DES(data encryption standard) encryption
• Service tax payable : it shows the service tax payable to Trial balance : it is the list of account or ledger balances of the
• list of reversing journal : method. The security of data, financial or otherwise, has
the Govt. to view GOT---display---statutory reports--- company sorted according to groups to check the arithmetical
GOT---display---exception report--- reversing journal always been a matter of concern. Most businesses depend
service tax reports---service tax payable accuracy of ledger posting.
• list of optional vouchers on the confidentiality of information. Tally vault is an
• ST3 report : it is a statutory report. It displays the ST3 GOT---Display---trial balance
GOT---display---exception report---optional vouchers enhanced security system which allows for encryption of the
form in the Govt. prescribed format that is used to file half Account book :account books consists,
yearly service tax return to the commissioner of service • post dated vouchers : company data with the most secure method of encryption
 Cash /bank book : it show the cash or bank accounts with GOT---display---exception report--- post dated vouchers
tax. To view being used.
their balances. So it is very helpful to show the cash & bank Printing reports
GOT---display---statutory reports---service tax reports--- How to use tally vault(procedures)
balances. To view go to: GOT---Display---account book---cash/ Reports and documents can be printed in tally in two ways:
ST3 report A. Load the desired company and using Alt + F3 proceed to
• ST3A report : it is also a statutory report. It displays the
bank book(s) • using the print button: by using print button on the right hand
the company information screen. B. Go to change tally vault.
ST3A form in the Govt. prescribed format that is used to  Ledger : it shows the list of all ledger created with their side, one can print the required document in tally
We will be required to select the company name once again.
file quarterly or half yearly service tax return to the values & balances. GOT---Display---account book---ledger  • multi account printing : the tally provide the facility for
Give the new tally vault password & confirm it. C. Once you
commissioner of service tax. To view GOT---display--- Group summary : it show the details of group created in tally printing one account at a time, all account, or all accounts in a
encrypt the data, the result is that the company name no
statutory reports---service tax reports---ST3 report selected group.
GOT---Display---account book---group summary longer becomes visible to anyone. D. Select the company
Central excise TECHNOLOGICAL ADVANTAGES OF TALLY
 Group vouchers : shows the vouchers entered. GOT--- and tally will prompt you for the tally vault password E. By
Excise tax is more commonly known as excise duty and is • data reliability : tally is powerful and will not affected even if
Display---account book---group vouchers the above procedure, we can ensure that data is kept
one of the most well-known forms of tax in India. It is the there is a power failure or if the machine shut down while
 Sales register(sales day book) : it shows sales vouchers functioning and hence there will be no data loss. confidential and is available only to administrator.
biggest single source in India. Any manufacturer of
excisable products is liable to pay this tax and is levied to entered. GOT---Display---account book---sales register • Data security: tally use data integrity checks that ensures no Backup
central Govt. the excise tax is required to be paid before  purchase register(purchase day book) : it shows purchase external change to the data can pass through tally. It is also uses Tally has a flexible backup mechanism where in you can take
the goods leave the factory. vouchers entered. GOT---Display---account book---purchase a binary encoding format of storage to prevent tricky grouping up a backup of the data from virtually and stored medium
Rates of excise duty : current excise duty in India is 12.36% register of information. into any other medium.
(including cess)  journal register: it shows journal voucher details, debit note • Tally audit : tally provides a capability to audit for the Procedures to take a backup 1) Start tally 2) Company
Types of excise taxes & credit note GOT---Display---account book---journal register correctness of the entire made by authorized users and alters information screen loaded 3) Select menu “backup”.(if GOT
• Basic excise duty • Additional excise duty • Special excise Statement of accounts : statement of accounts contains: them if needed. loads use Alt + F3 to get option backup) 4) To change either
duty • Tally vault : tally offers a data encryption option called tally the source on the destination path that, to where we want
• outstanding : such outstanding payable, receivable and their
Enabling excise duty in Tally vault. The tally vault password given cannot be broken by any to backup. 5) The backup file is stored as TBK500.001
ledger & groups GOT---Display---statement of accounts--
GOT---accounts info---F11 features-- statutory & taxation--- means. Tally follows DES(data encryption standard) encryption
outstanding
-enable excise duty-- yes method.
• interest calculation: it shows the interest calculation details
such as interest receivable, payable and their group & ledgers.
GOT---Display---statement of accounts-- interest calculation

shifxs__ | shifxs__ | shifxs__ | shifxs__

 computerized accounting with tally
Restore
Restore literally means ‘to bring back’. Similar to
backing up of data, tally allows restoring of data from
any medium into any other storage medium.
Procedure of restore data in tally
1) Start tally 2) Company information screen loaded 3)
Select menu “restore”.(if GOT loads use Alt + F3 to get
option restore) 4) Select source & destination paths 5)
The source field has to have the appropriate path form
which we intend to bring back the previous data. 6)
Select as required and restore accordingly
Split financial year
tally offers a feature of splitting company data. Once
the books of accounts are completed for previous
financial years and if the user wishes, he could split the
company data into multiple companies as per users
requirements.
Procedure for split company data
1) Select company 2) Tally recommends the split- off
date based on the data existing 3) Split occurs in sets of
two periods 4) On confirming the activity, two new
companies will be created.
Importing
Tally offers a special feature of importing data from
other software.
Procedure
GOT---select import masters-import
Export of data
Tally also provides the facility of exporting data to
other software. It is mainly for summaries and
statement reports like trial balance, stock summary
etc.
Export master data
GOT---Display----list of accounts---click on print---click
on export
Tally OBDC
Tally uses OBDC to connect other programme and
exchange data dynamically.
Outward connectivity : it is possible to pick up data
from tally directly into other programme like MS excel
or Word without any programming
Procedure:
• Start tally(ensure ODBC server is visible in GOT) •
Start MS word—select tools---select mail merge • Press
the data source button • Get data---create data source
• Click on MS query • Select tally ODBC
e- capabilities
tally has extensive internet capabilities. E Mail, Web
Publishing and data interchange over the internet are
all easily achieved from within tally.

shifxs__ | shifxs__ | shifxs__ | shifxs__