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Computerized Accounting System:-

As the name suggest, in Computerized accounting system ,all the work is done wit
h the help of computers . This means that various accounts are made by the compu
ters & also the results are also interpreted by the computers.
Instead of doing such mundane tasks of posting , totaling and writing same repor
t with updated figure every time ,you just create the Ledger accounts and enter
the vouchers .You do not have to worry about tallying trial balance .You do not
have to key in hundreds of figure into your report .The computer gives you every
accounting statement you need .
It is the system in which all the works are done with the help of computers .All
work can be done with the help of computers in a much more organized way, has a
lso information is stored in the form of files but on disks & tapes . This help
is easy & speedy retrieval of information .In this the computer just gives the i
nformation to the computer or feeds the transactions in the computer accounting
software , it completed all works. The computerized accounting system is more us
eful .It is making its place very fustily in the business fields or you can say
in the business organization or all industries that prepares a/c ‘s .This system
save precious thing that is time. Yes various works ,which are handled by it ,c
an be completed very fast & turn it saves our valuable thing that is time . So i
t has made our own place in the business. So the computer not only gives neatly
printed error free accounting books and reports. It does a lot of difference in
your way of thinking about your business as you get the figures readily served i
n your plate.

Process in Computerized Accounting System :-


To process in computerized accounting system there are three steps:-
1. Input Design
2. Output Design
3. File Design
Input Design :-
Input design requirements for accounting system are given below :-
A. Master Information .
B. Receipts for each purchase ,sale transactions.
C. Each payment transaction.
Master information contains all information of quantity ,purchase price etc. & r
eceipt for each purchase & sale transactions contains selling price , customer n
ame , contains payment account , payment date & all information about payments e
tc.
Output Design :-
A/c prepares are as follows :-
1. Purchase a/c ,sale a/c , payment a/c and receipts a/c.
2. P/I a/c.
3. Trial Balance.
4. B/S.
File or a/c’s design :-
1. Master file
2. Sale & Purchase a/c
3. Other required a/c’s
The master file is designed depending on whether you are going to do batch proce
ssing or on line processing .in a batch processing , the master file are updated
only periodically , normally in a line processing environment . Master file lay
out is a/c no. current balances , operating balances , closing balances etc.
Advantages of computerized accounting system :-
There are many advantages of the computerized accounting system.

1. Reducing of time in processing :-


A Computerized accouting system can reduce considerable amount of the time in pr
ocessing amount of the time in main advantages of computerized accounting system
because computer processing speed is fast than a man.
2. Not a paper work:-
In computerized accounting system all the work is done in computer so it does no
t include much paper work & hence a less tension of work.
3. Accuracy :-
In the manual accounting system the data is not more accurate . But computerized
accounting system the data is more accurate .
4. Less chances of errors :-
In computerized accounting system the computer because of which the chances of e
rrors being done are comparatively less does control system work.
5 .Control over delicacy:-
Unlike manual accounting system , computer accounting system controls over delic
acy . Computerized accounting system gives warning to given any duplicate data.

Hence a computerized accounting system is very much useful for us .But it has so
me disadvantages of computerized accounting system.
1. Problem of hardware and software failure
2. More chances of fraud because figure can be altered easily and go unnoti
ced.
If there are many advantages of computerized accounting, than there are some dis
advantages also that are given above.
Difference between Manual accounting system & Computerized accounting system:-
The both type of system do the same work but the different method & at different
level .Now here are the differences in the manual accounting system & computeri
zed accounting system .The difference are:-
1. Paper Work: –
Manual accounting system includes a lot of paper work .In this system all works
is done in papers, in files& in books .But in computerized accounting system all
the work is dine in the computer so it does not include much paper work & hence
a less tension of work.
2. Accuracy:–
In the manual accounting system the data is not more accurate .But in computeriz
ed accounting system the data is more accurate.
3. Control over Delicacy:-
Unlike manual accounting system ,computerized accounting system controls over d
uplicacy. Computerized accounting system gives warning to given any duplicate da
ta .
4. No. of Persons –
A lot of persons are involved in the manual accounting system because various t
asks are to be done manually . But in computerized accounting system just only o
ne person can handle the work very easily because
Almost all of the work is to be done by the computers such as calculations, B/S
,Trial Balance etc.

5. Time Involved:-
In manual accounting system a lot of time is involved . It means it takes a lot
of time to be work completed in the manual accounting system because hands and m
anpower completes all the works. But in computerized accounting system comparati
vely less time is involved because of the ‘diligence’ features.
About Computerized system in Tally
Tally:-
The simple description of tally is financial accounting software.It is t
he post transaction system .This means , that the information being fed into tal
ly as voucher , have already been executed.
Tally provides the normal cash book , ledger , sales & purchase register , journ
al register , Dr, & Cr. Note register as the principle books of accounts ,and f
urther the statutory generated there on viz.: the trial balance , P&L and balanc
e sheet , cash flow and fund flow etc. Tally is accounting software for computer
.In which a man or a business organization can complete all accounting books wi
th the help of this software .With the help of this software , the org. can do a
ll those things that can be done manually.
There are many other software also available for accounting purpose
, tally is one of them with versions 4.5, 5.4, 6.3, 9.0 etc. to know more about
tally
Here are some features :-
Features of Tally:-
1.One of leading accounting packages:-
The first version of tally was released in 1988 & through continuous development
is now recognized as one of the leading accounting packages across the globe, w
ith over 50,000 users and still growing .
2. No accounting codes:-
Many computer accounting packages require numeric codes for maintaining the acco
unts ,Tally pioneered the “no accounting codes” concepts & tally users have the
freedom to allocate meaningful names to their data throughout the system.

3.Complete business solutions:-


Tally provides a comprehensive solution to the accounting needs of business ,the
packages comprises financial accounting & book keeping , inventory accounting
& numerous tools for extracting , interpreting and presenting data to assist in
the management of the business and to aid decision making .
4 integrated/Non-integrated accounting & inventories :-
With tally the user is able to choose which parts of th
e system to use accounting , inventory or both & if both are used , whether the
accounting & inventory are to be integrated or not.
5. Multi-platform availability :-
Tally is available on window 95, window 3.x , & apple power Macintosh. It will r
un on a single PC or Network and if on a network ,will support access via any co
mbination of platforms.
Accounting with Tally:-
Tally is using to replace manual accounting system ,it is worth conforming that
tally maintains full, auditable , double entry book keeping exactly as we shoul
d expect with a manual ledger system .
All financial transactions are recorded at the level of details we
specify and tally has capacity to handle million numbers of transactions more th
an we are ever likely to need.
Debit & Credit entries in the books are kept separate to highlight
the effect of each transaction and the difference between the sum of the entire
debit amount and the sum of all the credit amounts provides the balance of the
account.
Accounts and the ledgers they contain are specified as affecting a
ssets , liabilities , income or expenses. In this way tally can produce P/L A/c
& B/S immediately after each transaction has been entered , as well as comprehen
sive range of other financial statements & reports.
A Powerful feature of tally allows us to create a personalized chart of accounti
ng to reflect the nature of our business & how we wish to keep the books .Tally
comes with a predefined simple structure for groups of accounts .All we have to
add the further groups of our choice , and the ledger to record the detailed tr
ansactions.
Predefined groups of accounts in Tally
Tally provides a list of 28 pre-defined groups , of these 15 are primary groups
& 13 are sub-groups .Tally also has pre-defined ledgers for cash(under cash-in-
hand ) & Profit & Loss A/c balance. The first nine items in the list of pre-defi
ned groups below affect the B/S ,& the final six items the profit & loss a/c .
Items in [Square Bracket] are aliases for the group names ,this is anoth
er powerful feature of tally which allows you to refer the same item under sever
al different names.
Capital A/c
Reserves and Surplus [Retained Earning]
Current Assets
Bank A/c’s
Cash A/c’s
Deposits(Assets)
Loan & Advances(Assets)
Stock-in-Hand
Sundry Debtors
Current Liabilities
Duties & Taxes
Provisions
Sundry Creditors
Fixed Assets
Investment
Loans(Liability)
Bank A/c[Bank OCC A/c]
Secured Loans
Unsecured Loans
Suspense A/c
Misc. Expenses(Assets)
Branch/Divisions
Sales Accounts
Purchase Accounts
Direct Incomes
Indirect Incomes
Direct Expenses
Indirect Expenses
Main Shortcut keys of Tally:-
Shortcut Keys Functions
F1 for select company
Alt+F1 for shut company
F2 for change date
Alt+F2 for change period
F3 for change company
Alt+F3 for create new compan
y
F4 for back up
Alt+F4 for restore
F5 for payment voucher
F6 for receipt voucher
F7 for journal voucher
F8 for sales voucher
F9 for purchase vouche
r
F10 for memorandum vouch
er
F11 for tally voucher
F12 for configuration
Alt+P for printing purpose
s

Other shortcut keys:-


Key Combination Function
Enter To accept information type
d into a field .To
a voucher or master .
To get a report with
further details of an
item in a report.
Esc. To remove what has been t
yped in field To
Exit a screen.
Ctrl+Q To abandon a form –Wheneve
r we Use
this combination ,it
quits the Screen with-
-out making any Chan
ges to it.
Alt+C To create a master at a
voucher Screen.
When working with i
n an account field ,
Press ‘alt+c’ to ac
t as a calculator.
Alt+D To delete a voucher .To
delete a master.
Alt+I To insert a voucher –
available in ledger
Voucher in display
Screen.
Alt+a To add a voucher avail
able in Ledger
Voucher in display
screen.
Alt+2 To duplicate a voucher availa
ble in ledger Voucher in display Screen.

Security Control:-
Security control is required in an environment where people work on the accounts
on the same computer or the same set of accounts on a nerwork.
In typical business environment different levels of staffs will have different r
esponsibilities & consequently different authorities .We have seen that , tally
has a variety of management reports that are sensitive in nature as also the fle
xibility to create ,alter ,display & print any information .Security control sys
tem of tally is used to set the authority rights of groups of people to prevent
or allow to do any more of the following in the different areas of tally to crea
te ,alter , display & print.
Security controls may even be used to prevent other people from using the syste
m .
Tally has a vary customizable security system.We can set up authority levels & u
sers who are placed at these levels .The authority levels or types of security d
ecide the rights of the users .
Tally has two security types already set up one is owner & the other data entry
,Owner has full access & rights to all parts of tally ,except tally audit ,which
is reserved for the administration alone .Data entry has restricted rights.We a
re allowed to create other security types based on these predefined types.
Security control can be activated during creation or from company alteration.
Once this is activated tally will ask for us to enter the name of the administra
tor and the password.

Create new security level


To start maintenance of accounts in tally ,First you have a company in tally .
From the gateway of tally press Alt+F3 ; this brings up the company i
nformation menu.

Fig. Company Information Menu


Click on “create company” option from this dialogue box.
Fill up all the required information in blanks.
There will be a column named “security control” .If you want to create security
level enter the “Name of Administrator” and “PASSWORD”, after this press the ‘en
ter’ key.
Saving the company Profile:-
Use a shortcut key which is ‘Ctrl+A’ to save the company profile and click on ‘Y
ES’ radio button.
Deleting the company:-
Use a Shortcut key which is ‘Ctrl+D’
To click on ‘YES’ radio button or ‘Y’ key from keyboard.

Account Ledger Creation:-


Take the following steps:-
1) First of all select any company or create as told in above step.
2) At Gateway of tally , select “accounts info” to get “account info. Menu” . A
t Account info. Menu , select Ledger to get Ledger menu.
3) Enter the required info. Menu.
Ledger Name
Parent Group(Select from the list of group)
Account ledger opening balance

You can Alter & Delete a ledger from the following steps.
Gateway of Tally a/c info Ledgers Alter/Delete.
Tally Vouchers:-
In accounting terms , a voucher is a document contains the details of financial
transactions. For examples ,purchase invoice , a sale invoice a cheque , a b
ank interest statement and so on .For every such transaction ,you use a Tally Vo
ucher to enter the details into the ledger to update the financial position of t
he company ,and this is the feature of tally that we will use often. Tally is pr
e-programmed with a variety accounting vouchers.
Tally Accounts Vouchers Types:-
The following are the basic voucher types:-
Contra: Money transfer (Like cash withdraw, cash deposit to bank
account)
Receipt :Money receipt in cash , cheque .
Payment :Money payment in cash , cheque.
Journal :Non cash transactions(Like Depreciation ,Accrual of interest).
Examples of various types of vouchers:-
In single mode entry , through you do not specify Dr. & Cr., Tally intelligently
understands Debits & Credits affects as per voucher type , position of ledger a
ccounts and the account sign(+ve or –ve).
First ledger account (without amount ) shows the header (Dr.) account
. Rests of the ledger account are line (Cr.) account.

Contra Vouchers:-
Some special contra vouchers are :-
1) Cash withdrawals from bank.
2) Fund transferred from one bank to another .
3) Cash deposited into multiple banks.

Payment Vouchers:-
Some typical examples of payments vouchers are:-
1. Machine repairing expenses .
2. Salary paid in advance.
3. Investment in mutual fund.
4. Personal loan given.
5. Interest paid on bank loan.
Receipt Vouchers:-
Most typical examples of receipt vouchers are :-
1. Professional fees received by cash/ cheque.
2. Outstanding Dues received.
3. Sale of equity mutual fund on profit.
4. Dividend received after the TDS payment .
5. Int. rec. on fixed deposit after TDS.
Journal Vouchers:-
Some examples of journal vouchers :-
1. Day Book.
2. Cash Book.
3. Journal.
4. Ledger.
5. Trial Balance.
Day Book:-
Day book shows list of vouchers in chronological order. At Gateway of tally , se
lect Display, select Day book to get list of all vouchers in Day Book from the C
urrent date. To get day book from a specified period:-
Click F2 : Period button and enter date range.
Click F12: Configuration to get day book configuration screen.
Cash /Hand Book:-
Cash book shows date wise list of transaction in cash with opening and closing b
alance .Bank Book shows date wise list of payments & receipts through Bank accou
nt , with opening and closing balance of bank.
Select Display
Accounts Books

Cash /Bank Book


First you get groupwise summary of cash, Bank and bank accounts. Drill down thr
ough a cash /bank account to get the cash/bank for the selected Cash/Bank accou
nt.
Journal:-
Journal book shows the date wise list of journal vouchers.
Select Display

Accounts Books

Journal Register
Select a month to get list of all journal vouchers or the selected month.
Click F2: Period and see the period for which you like to get the journal book.
Ledger:-
Ledger book shows the transactions with particular accounts with a particular se
quence, with opening & closing balances for the specified period.
Select Multi account Printing

Accounts Books

Ledger

All Accounts
Trial Balance:-
“Trial Balance shows the closing balances of account groups/Ledger in hierarchic
al order. You may get extended trial balance..
Tally can present trial balance with figure if opening balance, transactions ope
ning balances & closing balance also.”
Select Display

Trial Balance
At trial balance screen click F5 to see trial balance in the form of “Ledger wis
e”
Final Accounts in Tally:-
Balance Sheet:-
1. At gate way of tally, select balance sheet screen.
2. Click F1:Detailed button to get format.
3. Click F12 : Configuration to get balance sheet configuration set “yes” a
t show vertical B/S to get B/S in vertical format.
Profit & Loss A/c:-
1. At gateway select profit & loss a/c screen.
2. Click F1: Detailed button to get detailed format.
3. Click F12: Configuration screen set the desired options.
4. On this screen , set “yes” at show vertical P&L A/c (with figure of inco
me statement).
Extension of financial year in a tally:-
Click F2: period button to get change period screen .At ‘To field’ enter the nex
t year closing date. Now you can enter voucher for next F year.
Backup, Restore , & rewriting:-
Accounting data is valuable. So you must protect your data by taking regular bac
kup. You can restore the data if the current working data damaged and now you wa
nt them to back again .Sometimes , data gets damaged and tally fails to open the
company .In such cases ,you should repair the data through rewrite option . You
also need to rewrite when you open a company created by older version of tally
. At gate way press ‘Alt+Ctrl+R’ and select the company which you wish to rewrit
e , press ‘yes’.