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Tally Prime Notes

Tally Prime is an accounting software that facilitates bookkeeping, inventory management, GST filing, payroll processing, and financial reporting. Users can start by installing the software, creating a company, and managing ledgers and vouchers for transactions. It also includes features for inventory management, GST compliance, and generating common financial reports.

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56 views3 pages

Tally Prime Notes

Tally Prime is an accounting software that facilitates bookkeeping, inventory management, GST filing, payroll processing, and financial reporting. Users can start by installing the software, creating a company, and managing ledgers and vouchers for transactions. It also includes features for inventory management, GST compliance, and generating common financial reports.

Uploaded by

akghosh14112000
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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TALLY PRIME NOTES (Beginners Guide)

1. Introduction to Tally Prime

- Tally Prime is a popular accounting software used for:

- Bookkeeping

- Inventory management

- GST filing

- Payroll processing

- Financial reporting

2. Starting with Tally Prime

- How to Start:

1. Install Tally Prime from https://tallysolutions.com

2. Open Tally Prime

3. Click on 'Create Company'

- Company Creation Details:

- Company Name, Mailing Name

- Address, State, Pincode

- Financial Year (e.g., 1-Apr-2024 to 31-Mar-2025)

- Books Beginning From (same as Financial Year)

3. Ledgers and Groups

- Groups:

- 28 pre-defined groups (15 Primary, 13 Sub-Groups)

Example: Capital A/c, Fixed Assets, Sundry Debtors

- Ledger:

- Used for individual accounts under groups

Example: Cash A/c, SBI Bank, Rent, Sales


TALLY PRIME NOTES (Beginners Guide)

To Create Ledger:

Gateway of Tally > Masters > Create > Ledgers

4. Vouchers in Tally

Tally uses voucher entries to record transactions:

Voucher Type | Shortcut | Purpose

-------------|----------|--------------------------

Contra | F4 | Cash to Bank / vice versa

Payment | F5 | Any payment made

Receipt | F6 | Cash received

Journal | F7 | Adjustment entries

Sales | F8 | Sale of goods/services

Purchase | F9 | Purchase of goods/services

To record voucher:

Gateway of Tally > Vouchers > Select Voucher Type

5. Inventory Management

- Create Stock Groups, Stock Items, Units of Measurement

- Track purchase, sales, and stock in hand

To Create Items:

Gateway of Tally > Inventory Masters > Create

6. GST in Tally Prime

- Steps:
TALLY PRIME NOTES (Beginners Guide)

1. Enable GST in F11 (Features)

2. Enter GST Details in Company Setup

3. Add GST rates to ledgers and items

7. Common Reports in Tally

- Balance Sheet: Financial position

- Profit & Loss A/c: Income vs Expense

- Trial Balance: Debit = Credit check

- Stock Summary: Inventory status

- Day Book: All vouchers by date

Path: Gateway of Tally > Display More Reports

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