Fundamentals of tally

1. Create company (Company creation screen explanation page 21) a. Gtw > Company Info > Create Company 2. Select a company a. Gwt > Alt+F3 : Company Info > Select Company Tally displays the List of Companies screen with all the companies created in an alphabetical order 3. Alter a company (Change the details of company) a. Gtw > Alt+F3 : Company Info > Alter b. Select the company and press enter to view the Company Alteration screen c. Press Esc to go back to the previous screen 4. Shut a Company a. Gtw > Alt+F3 : Company Info > Shut Company b. Select the company which you need to shut from the List of Companies 5. Company Features/Settings F11(Company Specific) After creating a company with the required info, you can now enable or modify Accounting an Inventory features or configurations Company Specific Features (F11) Go to Gtw > Press F11 There are various settings available under Company Features: a) Accounting Features (Gtw > F11 > F1) : Which generally affects accounting transactions and reports. b) Inventory Features (Gtw > F11 > F2): Comprises of configurations/ functionalities pertaining to Inventory transactions and reports. c) Statutory Features (Gtw > F11 > F3): Configurations/ functionalities pertaining to statutory compliances (Following of rules). Statutory features are country specific and strictly depends upon Country selected in the Company Creation screen. d) Tally.NET Features (Gtw > F11 > F4):: Connection details for connection to other Tally on a network e) Add-On Features (Gtw > F11 > F6): For customized addition of software. 6. Configurations F12 (Applicable to all the companies in a data directory) It includes a) General Configuration: To configure Country details, style of names, dates and numbers b) Numeric Symbols: You can configure number styles and symbols here c) Accts/Inventory Info Configuration: It is used to enable additional settings in Accounting and Inventory voucher entry screens d) Voucher entry: To configure additional settings and options during voucher entry e) Invoice/Orders Entry: For configuring additional information such as export details, shipping details etc

f) g) h) i) j)

Payroll Configuration: For entering information related to employees. Banking: Settings related to Bank reconciliation statement Printing: Configure Print settings for various accounting, inventory etc. E-mailing: Settings related to email such as email server, server address etc Data Configuration: To define location of language files, tally configuration files, export files etc and details of companies to be loaded on startup k) TDL Configuration: Tally Definition Language for custom solutions on tally l) Advanced Configuration: For specifying Client/Server, Connection, proxy for networking m) Licensing: To update, surrender, reset tally license Practice Exercise: 1. Create Indus Enterprises (page 52) 2. Perform the following activities a. Select Indus Enterprises b. Shut Indus Enterprises c. Alter Indus Enterprises

Creating Accounting Masters in Tally ERP 9

Tally allows you to create account heads and groups as per your requirements. Chart of Accounts Tally follows double entry system of accounting. It records accounting information by debiting and crediting different ledger accounts using different voucher types depending upon the nature of transaction. Pre- defined Group of Accounts There are 28 predefined groups in Tally which are widely used in the Chart of Accounts of many trading organizations. Out of these, 15 are Primary Group and the remaining 13 are Sub-groups. Among the 15 predefined groups: 9 are Balance Sheet Items , 6 are Profit & Loss items Practice: Go to Gtw > Display > List of Accounts To view predefined Groups, press Ctrl+G To view predefined Ledgers, press Ctrl+L Groups All financial entries are made using ledger account heads. Every transaction/ voucher can be related to a ledger account head to which it belongs. Ledgers that have transactions of the same nature are classified under one group. A group is a collection of ledgers which have similar transactions. Eg. All ledger account heads relating to fixed assets of the company are grouped under fixed assets primary group in tally In tally you can create Groups and classify any number of ledgers under a group Go to Gtw > Accounts Info > Groups There are two options for creating Groups: 1. Single Group (To create group one by one) a. Go to Gtw > Accounts Info > Groups > Create (Under single group) b. Group creation screen appears and specify: i. Name of the group ii. Select group details in the Under field iii. Enter other details as required iv. Press Enter to accept

2. Multiple Groups a.