Академический Документы
Профессиональный Документы
Культура Документы
Tally is the Number One Financial Accounting package used in India and
abroad. It is marketed by Tally Solutions Pvt. Ltd. It is a codeless accounting
system i.e. accounts are maintained without any account code. With tally you
could be the owner, the financial controller, accountant, manager or auditor.
ACCOUNTING SYSTEM:
After opening Tally it displays the activation form to enter the product
number, activation key and Email id. To work in Educational information need
not be filled, press ESC key. Tally will display the Info, menu, which allows the
user create or select the companies.
CREATING A COMPANY:
For the first time, to start working with Tally, a company has to be
Creating a company involves —
Typing the name of company,
Address,
Country,
State,
Email address,
Method of maintaining accounting,
Financial year from,
Books beginning from,
Security control etc.
A Company can be created from Company Info menu. When Tally is loaded
this menu will be displayed automatically. But if a company is already created,
the company 10000 will be automatically opened and Gateway of Tally
menu will be displayed. Then return to Company Info, menu by closing the
open company, press Alt+F1 or to return to Company Info, menu without
closing the company, press Alt+F3. When starting Tally, to display the
Company Info, menu automatically, without opening any existing companies,
edit the following two lines (using Tally configuration file TALLY.INI located in
folder TALLY as given below
Default Companies = No
;; Load=10000
To create a company, select Create Company (or press C) from Comp Info
menu.
Directory is related to the folder, where the files of the company must
be stored. By default, it is C:\TALLY\DATA. Inside it, a sub-folder based
on the company number (starting from 10000) given by tally, will be
created and company files will be stored inside it. To change it, either
press Shift+Tab or press backspace and type the desired directory name
e.g., C:\TALLY\BRANCHES.
Company In formation
Type the name of the company Typing company name is compulsory.
Mailing name is the name of company to be used in all reports
statements. By default, it will be same as name entered above. It can
changed, if different name has to be used in reports and statements.
Type the address of company (this is optional and can be left blank
pressing Enter).
Type the PIN Code of the company place. It is optional.
Type the Telephone Number of the company. It is optional.
Type the E-Mail address. of the company, which is used to E-mail the
company’s reports and documents
Currency Symbol will be automatically displayed based on the country
selected. If required, it can be changed.
The Maintain option allows you to specify the method of maintaining the
accounts. There are 2 options in it.
Accounts Only — It is used to maintain only the Financial Accounts of
the company. Inventory management is not involved in it.
Type the starting date of Financial Year of the company. Generally it will
begin from the 1st of April. For example, 1-4-2007.
In Books beginning from, type actual date from which the accounts of
the company has to be maintained. Generally, Financial Year From and
Books Beginning From date will be the same. If Books Beginning From
date is different from the date of Financial Year From, it must be greater
than Financial Year From date. For example, Books Beginning From date
1-6- 2007, indicates, financial year starts from 1-4-2007.
SELECTNG A COMPANY
After Tally is loaded, if the company is already created, in order to make
it must be selected, (a company will be automatically opened, after creating
the company). To select / open the company, from Company Info, Select
Company. Available company names with their directory number financial
period will be listed. Select the required company name by and pressing Enter.
A company can also be selected by double company name.
ACCOUNTS INFORMATION
1. Cash and
2. Profit and Loss Accounts
ACCOUNT GROUPS
Bank OD A/c [Bank OCC A/c]: The ledger accounts related to Bank
Overdraft, Cash/Credit Accounts, Hypothecation A/c, Bill Discounting A/c
are created under this sub-group.
Secured Loans: The ledger accounts of Term Loans and other Medium /
Long term loans taken by the company from banks, financial institutions
upon furnishing security must be placed under this sub-group.
6. Current Assets: This is a primary group to keep the assets of the company.
Generally ledger accounts are created under its six different sub-groups.
Stock-in-hand: It is used to hold opening and closing stock figures of some
accounts like Raw Materials, Work-in-Progress and Finished Goods. When
maintaining accounts with inventory, as closing stock is automatically
calculated, this sub-group is not used. It is used in case of Accounts Only.
These accounts can not be used in voucher entries. The closing balance of this
sub-group ledger accounts must be entered through ledger accounts alteration
only.
Deposits (Assets): Ledger accounts related to deposits made, by the
company (not deposits received by the company) like Fixed Deposits, Recurring
Deposits, Security Deposits in other companies, Rental Deposits, Deposits with
Electricity Dept, Deposits with Telephone Dept. et., can be created under this
sub-group.
Loans & Advances (Asset): All advances of non-trading nature like Salary
advance, loans to employees, all short term loans given by the company,
advances to purchase fixed assets etc., can be placed under this sub-group.
Sundry Debtors: Ledger account of customers (all parties to whom credit
sales are made) is created under this sub-group. Advances received from
customers can also be kept under this sub-group.
Cash-in-Hand: Cash A/c is created automatically by Tally when the company
is created, under this sub-group. Ledger accounts like Petty Cash A/c, Cash-at-
Branch A/c etc., can be created under this sub-group.
Bank Accounts: All current and savings bank accounts are created
under this sub-group.
10. Direct Income [Income Direct]: It is a primary group to hold the ledger
accounts of income, which will be used to calculate gross profit. Professional
service charge, Servicing Charges etc. can be created under this group.
11. Indirect Income [Income Indirect]: This is a primary group to record all
Rent, Interest on Deposits, Commission, and Dividends etc. received, Packing
and Forwarding charges, Distribution charges collected from the customers.
12. Direct Expenses [Expenses Direct]: This is a primary group to hold the
ledger accounts of all trading expenses like Carriage Inwards, Unloading
charges, Wages, Coolie, Power and Fuel, Freight Inwards, Handling Charges,
Scrap Sorting Charges etc., can be created under this group.
STOCKGROUPS
Stock items can be grouped together under Stock Groups to reflect their
classification based on some common features. It is the classification of
different items of the shop.
Like multiple ledger accounts, multiple stock groups can also be created,
displayed or altered.
UNITS OF MEASURE
Each stock item must have a unit of measure to count the quantity, like
Liters, Meters, Kilo Grams, Numbers etc. There are two types of units of
measure:
They are Simple Unit of Measure (default) and Compound Unit of
Measure.
Simple Unit of Measure is a unit that consists of only one unit of measure e.g.,
KG, Meters, Liters, Numbers, Pieces etc.,
Compound Unit of measure is a unit that consists of two or more units e.g., a
dozen of 12 numbers, one box of ten pieces, one kg of 1000 gms etc.
For example,
Create two simple units Dzn. (Dozens) and Nos. (Numbers). Now give the
relation between dozens and numbers as one dozen equals twelve numbers.
Creating a Location
From Gateway of Tally menu, press F11 to change company features,
select Inventory Features. Select Maintain Multiple Godowns : Yes.
From Gateway of Tally, Inventory info., Godowns, Single Godown Create
STOCK ITEMS
Like Ledgers, Stock items are the primary inventory entity. The stock
items are used while recording purchase, sales, purchase returns and sales
returns. This is the lowest level of information about inventory. Each item that
is required to be accounted for needs to be created. In Tally, a stock ledger
account for each item is termed as a “Stock Item”.
VOUCHER ENTRY
INTRODUCTION
A voucher is a basic recording document of a shop or business . Day to
day business transactions are entered in Tally through vouchers. For example
purchase of items, sales of items, salary payment to the staff, electric bill
payment etc.
Debit (+)
Credit (-)
Debit Credit
The Receiver The Giver
Real Accounts: Accounts related to tangible, visible items and things such as
cash, cheque, all type of assets including motor vehicles, computer, land,
building, machinery, furniture, live stock etc.
The rules of using Debit and Credit with Personal Account is as
follows:
Debit Credit
What comes in What goes out
Debit Credit
All expenses and Loss All gains and Income
VOUCHER TYPES
5. Identify the Debit and Credit accounts by applying the rules of Personal, Real
and Nominal accounts.
6. Identify the Debit and Credit amount, total of both must be equal.
7. Enter the voucher by selecting Debit and Credit accounts, typing respective
amount and a narration.
A Receipt Voucher can be entered, by pressing the function key F6. The
voucher background color is green.
A Payment Voucher can be entered, by pressing the function key F5. The
background color is yellow.
CONTRA VOUCHER (F4)
Cash or cheque deposited into bank, cash withdrawn from bank, transfer
of funds from one bank account to another bank will be entered through Contra
Voucher. Here Debit and Credit accounts can be only Cash and Bank Accounts.
The Bank Account should be a current a/c or savings bank a/c and NOT a term
deposit or loan a/c. That is, Bank Account should have been created under the
group Bank Accounts or Bank 0CC A/c.
If the amount is deposited into the bank, then Bank A/c will be Debited
and Cash A/c will be Credited.
If the amount is withdrawn from, the bank, then Cash A/c is debited and
Bank A/c is credited.
Journal entries can be entered by pressing the function key F7. The background
color of voucher is blue.
This is used to enter transfer of materials like items are moved from one
godown to another without affecting the financial accounts.
To make the entry for Stock Journal press the keys Alt + F7.
. In Source (Consumption) select the name of item to transfer.
. From the list of Godowns, select the source godown.
. Enter the quantity of items being transferred in place of Quantity.
. Enter the rate of goods being transferred in place of Rate.
. In Destination (Production) enter the name of item received.
. Type the quantity and rate of item received at different godowns.
. Type a brief note of transaction in place of Narration.
VAT COMPUTATION
To decide how much VAT is payable, use VAT Computation report. Actual
amount of VAT payable is Output VAT — Input VAT. That is the difference
between the VAT collected on sales from the Customers and VAT paid on the
purchases made during a given period of time, generally, a month. To display
the amount of VAT payable, select from Gateway of Tally, Display,
Statutory Reports, VAT Reports, VAT Computation.
PAYMENT OF VAT
After deciding how much VAT is payable through the VAT Computation
the Output VAT is more than the Input VAT, enter two vouchers for the of VAT.
They are Journal Voucher and Payment Voucher. If the Output Vat is less than
the Input VAT, then the VAT is refundable and it will be forwarded to next
month.
In Journal Voucher, debit different Output VAT ledger accounts, credit different
Input VAT ledger accounts and also credit VAT Payable A/c.