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ERP 9
Tally is a financial accounting software used to store and maintain daily business transactions
like purchase, sales, receipts, payments, purchase returns, sales returns, deposits and withdrawals
etc. Tally developed by Tally Solutions (P) Ltd at Bangalore in 1990 -91.
Features of Tally
A user-friendly package
At any moment you get the results of the business.
A codeless package.
It has the complete range of book-keeping facilities.
It has scenario management feature to analyse your business performance under varying
assumptions.
It is higly secured against data tampering.
It has very powerful audit facility.
Tally provides an interactive online help.
As Open Database Connectivity [ODBC] facility is available it can be connected to
other programs and exchange data dynamically.
All the reports can be published on web and may be directly e-mailed.
It is VAT, Service Tax, FBT, TDS, TCS compliant.
It is multilingual. Accounts can be maintained in Hindi, Marathi, Tamil, Telgu,
Kannda, Punjabi, Gujrathi, Bengali, Malayalam.
It has complete Payroll management system and much more……..
ACCOUNTING
It is the art of recording, classifying and summarizing in a significant manner and in terms of
money, transactions and events which are in part at least of a Financial Character and interpreting
the result thereof. In simple terms accounting means:-
a) Recording
b) Classifying
c) Summarizing all the transactions which take place in the day to day business.
It is the art of recording, classifying and summarizing all the day to day business transactions
This is done for a particular period of 12 months called a 'Financial Year'. It generally
starts on 1st April and ends on 31st March.
The main objectives of accounting are
i. To maintain accounting records.
ii. To calculate the result of operations.
iii. To ascertain the financial position.
iv. To communicate the information to users
Transactions are those activities of a business, which involve transfer of money or goods or
services between two persons or two accounts. Transactions are of two types, namely,
cash and credit transactions.
Cash Transaction is one where cash receipt or payment is involved in the transaction.
Credit Transaction is one where cash is not involved immediately but will be paid or received
later
Classification of Accounts:
ACCOUNTS
PERSONAL IMPERSONAL
REAL NOMINAL
Capital
It means the amount (in terms of money or assets having money value) which the proprietor has
invested in the firm or can claim from the firm. It is also known as owner’s equity or net worth.
Owner’s equity means owner’s claim against the assets. It will always be equal to assets less
liabilities, say: Capital = Assets - Liabilities.
Asset
Any physical thing or right owned that has a money value is an asset. In other words, an asset is
that expenditure which results in acquiring of some property or benefits of a lasting nature.
Assets are properties of business.
a) Tangible Assets:
Assets which have some physical existence are known as tangible assets. They can be seen,
touched and felt, e.g. Plant and Machinery Tangible assets are classified into
i. Fixed assets :
Assets which are permanent in nature having long period of life and cannot be converted into
cash in a short period are termed as fixed assets.
b) Intangible Assets
The assets which have no physical existence and cannot be seen or felt. They help to generate
revenue in future, e.g. goodwill, patents, trademarks etc.
c) Fictitious Assets
These assets are nothing but the unwritten off losses or non-recoupable expenses. They are really
not assets but are worthless items.eg. Preliminary expenses.
Liabilities
The amount which a business owes to others is liabilities. Credit balance of personal and real
accounts together with the capital account are liabilities.
c) Contingent liabilities
It is an anticipated liability which may or may not arise in future. For example, liability arising
for bills discounted. Contingent liabilities will not appear in the balance sheet. But shown as foot
note.
Drawings
It is the amount of cash or value of goods withdrawn from the business by the proprietor for his
personal use. It is deducted from the capital.
Debtor
A person who owes money to the firm mostly on account of credit sales of goods is called a
debtor. The debtors are shown as an asset in the balance sheet. Debtors are the persons who
receive goods on credit.
Creditor
A person to whom money is owned by the firm is called creditor. The creditors are shown as a
liability in the balance sheet. The creditors are shown as a liability in the balance sheet.
Creditors are the persons who supply goods on credit, or bankers or lenders of money.
Purchases
Purchases refer to the amount of goods bought by a business for resale or for use in the
production. Goods purchased for cash are called cash purchases. If it is purchased on credit, it is
called as credit purchases. Total purchases include both cash and credit purchases.
When goods are returned to the suppliers due to defective quality or not as per the terms of
purchase, it is called as purchases return.
Sales
Sales refer to the amount of goods sold that are already bought or manufactured by the business.
When goods are sold for cash, they are cash sales but if goods are sold and payment is not
received at the time of sale, it is credit sales. Total sales include both cash and credit sales.
Direct expenses: Direct expenses are incurred to make the goods sale able. They include wages,
carriage and freight on purchases, import duty, customs duty, clearing and forwarding charges
manufacturing expenses or factor. Expenses
Revenue
Revenue means the amount receivable or realised from sale of goods and earnings from interest,
dividend, commission, etc.
Expense
It is the amount spent in order to produce and sell the goods and services. For example, purchase
of raw materials, payment of salaries, wages, etc.
Income
Income is the difference between revenue and expense.
Voucher
It is a written document in support of a transaction. It is a proof that a particular transaction has
taken place for the value stated in the voucher. It may be in the form of cash receipt, invoice,
cash memo, bank pay-in-slip etc. Voucher is necessary to audit the accounts.
Invoice
Invoice is a business document which is prepared when one sell goods to another. The statement
is prepared by the seller of goods. It contains the information relating to name and address of the
seller and the buyer, the date of sale and the clear description of goods with quantity and price.
Receipt
Receipt is an acknowledgement for cash received. It is issued to the party paying cash. Receipts
form the basis for entries in cash book.
Account
Account is a summary of relevant business transactions at one place relating to a person, asset,
expense or revenue named in the heading. An account is a brief history of financial transactions
of a particular person or item. An account has two sides called debit side and credit side.
“Trial balance is a statement, prepared with the debit and credit balances of ledger accounts to
test the arithmetical accuracy of the books” – J.R. Batliboi.
Trial balance is a statement which shows debit balances and credit balances of all accounts in
the ledger. The entire ledger is summarized in the form of a Trial Balance. It is a statement
containing the various ledger balances on a particular date.
Final Accounts
The final accounts of business concern generally includes two parts. The first part is Trading and
Profit and Loss Account. This is prepared to find out the net result of the business. The second
part is Balance Sheet which is prepared to know the financial position of the business.
Balance sheet is defined as ‘a statement which sets out the assets and liabilities of a business
firm and which serves to ascertain the financial position of the same on any particular date’. It is
a statement showing the financial position of a business.
Petty means ‘small’. The petty cash book is a book where small recurring payments like carriage,
cartage, postage and telegram, printing and stationery etc., are recorded by the petty cashier, a
person other than the main cashier.
Adjustment Entries:
While preparing the Profit and Loss Account for a particular period it is absolutely essential
that the expenses, losses, income and gains relating only to that period are considered. Therefore
the figures in the Trail Balance must be adjusted before preparing Profit and Loss account and
Balance sheet.
1. Title Area
2. Main Area
3. Calculated Area
4. Button Bar
5. Other Parts:
a. Current Period: This is the currently loaded or selected company’s accounting period
b. Current Date: This is the date of the last voucher entry of the selected company (Not
the calendar date)
c. List of Selected Companies: This displays the name of the loaded or selected
company
d. Masters: for creation of Accounting masters and inventory masters and importing
master information
During creation of a company, Tally automatically created 15 main/primary group and 13 sub-
groups known as predefined groups. These groups cannot be deleted. We can add new primary
and sub groups through group creation.
Bank Accounts
Cash-in-hand
Deposits(Asset)
Stock-in-hand
Sundry Debtors
Sundry Creditors
Fixed Assets
Investment
Unsecured Loans
Suspense A/c
Branch/Divisions
Out of the 15 pre-defined primary groups, the following are the six pre-defined groups that
appear in the Profit & Loss Account.
1. Sales Accounts
2. Purchase Accounts
Types of Ledger
5 Cash/credit purchase Purchase account 38 Coal, gas, water, oil & fuel Direct Expenses
22 Furniture& Fittings Fixed Asset 55 Carriage Outward for Sales Indirect Expenses
VOUCHER ENTRY
Voucher is a document containing the details of financial transaction. For every transaction
made, a voucher is used to enter the details into the ledger to update the financial position of the
company. In manual, recording the business transaction is called journal entry. In tally this
process is called Voucher entry.
Tally.ERP 9 is pre-programmed with a variety of accounting vouchers, each designed to perform
a different job. The standard Accounting Vouchers are:
Transaction related with transfer of funds between banks, cash, withdrawals and deposits
Cash to Bank
Bank to Cash
Bank to Bank
Payment to supplies
Business expenses like rent, salaries, Commission paid, wage paid etc.
Received Capital
Used to enter the adjustment transactions or the transactions without money movement like
depreciation, party-to-party adjustments. i.e. Ledger to Ledger adjustments.
Purchase return
Sales return
Sales Voucher (F8): Used to record both cash and credit sales. Records the delivery of goods
and invoice to customers.
Purchase Voucher (F9): Used to record both cash and credit purchase. Records the receipt of
goods with invoice from suppliers.
Credit Note Voucher (Ctrl+F8): Sales return and payables. Credit Note for Goods rejected and
returned by customer.
Debit Note Voucher (Ctrl+F9): Purchase return and received transactions. Debit Note for
Goods rejected and returned to supplier.
Note:
Voucher Mode: Debit and credit formation. Trade discounts and sales tax are calculated
manually.
Invoice Mode: Similar to actual invoice. Trade discounts and sales tax are automatically
calculated.
Non-Accounting Voucher
Memo Voucher (CTRL+F10): It is a non accounting voucher whose entries do not affect your
accounts at all.
Optional Vouchers (CTRL+L): This is not a separate voucher type. You can mark a Regular
voucher as optional and then can be regularized the same.
Reversing Journals (F10): These are the vouchers for a single day.
Post-dated Vouchers (CTRL+T): You can mark voucher as post-dated while entering it. Tally
will include the same on the due date.
Example:
The details of all the sales and purchase transactions made with the debtors and creditors have to
be maintained at the invoice level. In order to maintain these details Tally.ERP 9 provides a
feature called as Bill-wise details for bill-wise accounting.
Methods of Adjustment:
New Reference:
This reference is used in a sales or purchase voucher when they were made on credit. This is
selected for new financial transactions.
Against Reference:
This reference is used during payment/receipt made against a credit sales or credit purchase
made earlier and recorded with a new reference.
Advance:
This is applicable for the payment/receipt made in advance for the future events.
On Account:
This reference is used where we are unable to adjust any payment or receipt against any specific
pending bills.
Activate:
F11: Features > Accounting Features (F1) > Maintain Bill-Wise Details – Yes
Result:
Gateway of Tally > Display > Account Books > Ledger > Select (Options) > ALT+B (View Bill
Wise details)/Select the Bill-Wise button to view the bill-wise details of the customer.
Gateway of Tally > Display > Statements of Accounts > Outstandings >
Receivables/Payables/Ledger > ALT+F1 (Detail)
Example:
Memo Traders listed their credit transactions with their various parties
1-4-2013: Credit sales to Rani Traders Rs.60000; Bill No: S-125; Due Date: 15 days.
4-4-2013: Credit purchase from Niva Ltd for Rs. 75000; Bill No: P-66; Due Date: 15 days.
7-4-2013: Advance money received from Revathi Traders Rs.10000 for future sales;
Bill No: A-101.
10-4-2013: Received cash from Rani Traders Rs.30000; Bill No: S-125
12-4-2013: Credit sales to Revathi Traders for Rs. 75000; Bill No: S-127; Due Date: 20-4-2013
13-4-2013: Advance amount paid to National Ltd for future purchase Rs.15000; Bill No: A-501.
14-4-2013: Received cash from Rani Traders Rs.20000; Bill No: S-125.
15-4-2013: Received cash from Revathi Traders Rs. 50000; Bill No: S-127.
18-4-2013: Paid cash to Niva Ltd Rs.40, 000; Bill No: P-66.
20-4-2013: Credit purchase from National Ltd for Rs.40, 000; Bill No: P-68.
25-4-2013: Paid cash to National Ltd Rs.20, 000 against Bill No: P-68.
CURRENCIES
Due to the globalization of business, many organizations have found the necessity to work with
more than one currency. Transactions are often made in currencies other than the home currency.
Record transactions with different currencies by allowing you to specify and change the
currency rate of exchange.
Tally.ERP 9 uses the term base currency for the currency in which your account books are
maintained (typically in the home currency).
Activate:
Pound ALT+156 £
Yen ALT+0165 (157) ¥
Euro ALT+0128 €
Franc ALT+159 ƒ
Dollar Shift+4 $
Gateway of Tally > Account Info > Currencies > Rates of Exchange
Standard Rate: Optional field used to calculate variances from actual transaction rates.
Selling Rate: Used for “Receipt Voucher” where we receive in foreign currency
Buying Rate: Used for “Payment Voucher” where we pay in foreign currency
Note:
Press CTRL+A for saving the key. Don’t press “Enter” key because it is repeated again.
Gateway of Tally > Account Info > Currencies > Alter (Mode) after the entry press CTRL+A.
To view the foreign exchange gain or loss: Gateway of Tally > Balance Sheet (Report)
Example 1:
Example 2:
1-04-09 – Credit purchase for ¥2000 from Yuan Swang Co, China
Example 3:
Cost Categories have been introduced specially for project oriented organisations as they require
allocation of resources to parallel sets of cost centres. This requirement can be achieved using
Tally.ERP 9's Cost Category feature. Any number of parallel allocations can be done as per
requirements.
Cost Centre: means when only cost or expenses are allocated to those centres.
Activate:
F11: Features > Accounting Features (F1) > Maintain Cost Centres > Yes
Gateway of Tally > Accounts Info > Cost Categories > Create
Gateway of Tally > Accounts Info > Cost Centres > Create
Example:
Dindigul: Rs.10000
Madurai: Re.15000
Trichy: Rs.15000
Erode: Rs.10000
Answer:
1. Gateway of Tally > Accounts Info > Cost Categories > Create
2. Gateway of Tally > Accounts Info > Cost Centres > Create
5. Note: Cost Category – Branches, Cost Centre – Dindigul, Madurai, Trichy and Erode
Activate:
Result:
Gateway of Tally > Display > Statement of Accounts > Cost Centres > Category Summary
Example:
Paid Conveyance Rs. 4000 totally for four departments namely: Accounts (20%), Computer
(30%), purchase (15%), sales (35%). Enter the cost centre
Answer:
3. F11: Features > Accounting Features > Use Pre-defined Cost Centre allocations during
Entry – Yes. Note: Class Name: Expenses Allocation
4. Ledger Creation:
Example:
1. Kalvi institute paid salary Rs.70000/- to various departments on 1-5-2009. The details:
Dindigul: Rs.10000
Madurai: Re.15000
Trichy: Rs.15000
Erode: Rs.10000
101: Rs.3000
102: Rs.2000
103:Rs. 1500
104:Rs.2000
4. Paid cleaning charges Rs.6000 for Accounts Department(25%), Computer Department(20%),
Sales Department(25%), Purchase Department(30%).
BUDGET
The main purpose of Budgeting is to control the expenditure. This is possible by creating budgets
and comparing the budgeted figures against the actual figures. You can generate reports based on
this need and view the variances or differences between the actual and budgeted figures.
Tally.ERP 9 allows you to create multiple budgets and also maintain budgets for specific
purposes, e.g. for the Bank, for the Head Office, Marketing Budget, Finance Budget etc.
Activate:
F11: Features > Accounting Features > Maintain Budgets and Controls - Yes
Under: Primary
Area of Budget:
Cost Centre: To mark for the particular cost centre for each group
Type of Budget:
On Net Transactions:
This option used for creating budgets for revenue accounts. Because the revenue accounts net
transactions should be monitored or controlled.
On Closing Balance:
The closing balance of non-revenue accounts like capital a/c, Bank a/c, Loans, current liability
etc should be monitored.
Gateway of Tally > Display > Trial Balance > ALT+B (Budget Variance)
Example:
Hi-Tech Company plans their budget on 30-4-2013 for coming May month (1.5.2013 to
31.5.2013)
Expense Budget:
Conveyance 2000
Steps:
1. Ledger Creation
2. Budget Creation: Account info > Budget > Create: Name: Expenses Budget
Cash paid to Telephone charges Rs. 3000, Office expenses Rs. 1000, Maintenance charges Rs.
1000, Conveyance Rs. 2500, Advertisement charges Rs. 2000.
Credit purchase made from Arun Tex Rs. 30000. Do the voucher entry on 31.5.2013 for the
above transaction.
Steps
Result: Gateway of Tally > Display > Trial Balance press ALT+B for Budget Variation
i.e Gateway of Tally > Display > Account Books > Leger > SBI Bank a/c
Step 2: Press ‘F7”:Select the month for reconciliation and press ‘Enter’ to have vouchers for that
month.
Step 3: Press ‘F12’ for configuration and activate ‘show narration’- yes. It is helpful to see the
narration as that contains cheque numbers and other details
Step 4: Press ‘F5’Reconcile appeared in the button panel for shift to reconciliation mode. A new
column appears as ‘Bank Date’.
Step 5: Enter the bank date in the “Date” field. For every entry of the bank date the vouchers are
reconciled.
Note: After the reconciliation done, we get only non-reconciled statements.(Vouchers). Press
‘F12’ and set to ‘show Reconciled voucher also’ – Yes.
Example:
Eminent Tech, Madurai gives their Bank Transactions for the month of April 2009. They also
show their Bank pass book detail (SBI Bank, Anna Nagar)
1-4-2013: Eminent Tech, Madurai deposited cash into SBI Bank Rs.100000
Sounder Rs.23000
Chellapandi Rs.15000
Anand Rs.30000
Vaitheki Rs.28000
5-4-2013: Cheque received fom Azeer Rs.25000 and immediately deposited into SBI Bank for
collection (Chq.No. 5678348)
8-4-2013: Cheque received from Chellapandi Rs.15000 and immediately deposited into SBI
Bank for collection (Chq.No. 5678350)
10-4-2013: Cheque received from Anand Rs.30000 and immediately deposited into SBI Bank for
collection (Chq.No. 5678355)
18-4-2013: Cheque received from Sounder Rs.23000 and immediately deposited into SBI Bank
for collection (Chq.No. 5678360)
Answer:
2. Gateway of Tally > Display > Account Books > Leger > SBI Bank a/c >Press F7 for April
month/ Press F5 for Reconcile
3. In Bank date column enter the date as shown in Bank Pass Book.
INVENTORY VOUCHER
Inventory accounting includes recording of stock details like the purchase of stock, the sale of
stock, stock movement between storage locations or godowns and providing information on
stock availability. Tally.ERP 9 makes it possible to integrate the inventory and accounting
systems so that the financial statements reflect the closing stock value from the Inventory
system.
Unit of Measure
Stock Items are mainly purchased and sold on the basis of quantity. The quantity in turn is
measured by units. In such cases, it is necessary to create the Unit of Measure. The Units of
Measure can either be simple or compound. A Compound Unit is a combination of two simple
units of measure. Examples of simple units are: nos., metres, kilograms, pieces etc. Examples for
compound units are: a box of 10 pieces etc. Create the Units of Measure before creating the
Stock Items.
Gateway of Tally > Inventory Info. > Units of Measure > Create.(Unit Creation)
1. Type: Simple
2. Symbol: Nos
Unit of Measure
Number No Doz of 12 No
Pack Pk
Dozen Doz
Order Voucher:
Inventory Voucher:
Activate:
F11: Features > Inventory Features (F2) > Use Tracking Numbers (Delivery/Receipt Notes)–Yes
Records rejected stock details returned to suppliers. Used to record the goods returned to the
supplier
Records rejected stock details received from customers. Use to record the rejection by the
customer which is delivered already. Used to record the goods returned from the customer
Essentially records the transfer of stock from one Godown to another. This voucher type is used
to record godown adjustments like transfer of goods from one godown to another godown or
manufacturing unit or goods is entered in destination.
Records delivery of new stock to customers. Delivery note is an authentication for the goods
delivered to a customer. This voucher type used to record delivery of goods to customer
without invoice. Movement of goods is recorded without affecting the financial goods.
Records receipt of new stock from suppliers. Used to record the goods received from the
supplier without purchase invoice. It is an authentication for the goods received.
Records the physical stock count as the new stock balance. If any difference between actual
stock and stock report from Tally, change can be made by adjusting the stock using this voucher.
Tally.ERP 9 considers the stock available based on the entry made in a physical stock voucher.
Furniture – Rs.25000
Salary – Rs.30000
Wages – Rs.25000
Rent – Rs.10000
EB – Rs.5000
Telephone– Rs.8000
Postage – Rs.300
Conveyance – Rs.250
Stationery – Rs.150
Maintenance – Rs.250
Furniture – Rs.15000
Salary – Rs.100000
Wages – Rs.7000
Postage – Rs.150
Conveyance – Rs.200
Stationery – Rs.150
Staff Welfare – Rs.20
TRACKING NUMBER
Generally in business, deliver the stock with delivery note and receive the stock with receipt
note. The bill will be raised later. The bill has to be linked or tracked with the goods already
delivered/received when the bill is made.
Tracking number links the different accounting and inventory vouchers as follows:
Activate:
F11: Features > Inventory Features (F2) > Use Tracking Numbers (Delivery/Receipt Note) – Yes
Result:
Gateway of Tally > Display > Statements of Inventory > Purchase Bills Pending
Example:
Poorvika Mobile store purchased from Nokia Co, Chennai for credit
1-4-2013: Received the following items with Receipt note (Ref No/Tracking No: R-101)
5-4-2013: Received the invoice (Purchase Bill No: P-300) from Nokia Co, Chennai for the goods
received on 1.4.2013 (Ref No/TrackingNo.R-101)
Answer:
1. Inventory Voucher > Receipt Note (ALT+F9)
2. Gateway of Tally > Display > Statements of Inventory > Purchase Bills Pending
4. Gateway of Tally > Display > Statements of Inventory > Purchase Bills Pending
Note: Since we received both goods and bills for Nokia Co, Chennai so there is no report in
purchase bills pending
Example:
Universal Mobile store purchased from Motorola Co, Chennai for credit
1-4-2013: Received the following items with Receipt Note (Ref No/TrackingNo.R-966)
5-4-2013: Received the invoice (Purchase Bill No: 225) from Motorola Co, Chennai for the
goods received on 1.4.2013 (Ref No/TrackingNo.R-966)
8-4-2013: Delivered the following items with Delivery note to Neelavathi Mobiles, Madurai (Ref
No/TrackingNo.D-456)
12-4-2013: Send the sales bill to Neelavathi Mobile, Madurai for the good delivered on
ORDER PROCESSING
Order Processing refers to placing orders with suppliers for purchasing from them or receiving
orders from customers for the purpose of selling.
In Tally.ERP 9, Order Processing is linked to Inventories. We can compare the sales or purchase
order, delivery notes and receipt notes and know the pending status of the order.
Activate:
F11: Features > Inventory Features (F2) > Allow Purchase Order Processing - Yes
Result:
Gateway of Tally > Display > Statements of Inventory > Sales order Outstandings
Example:
1-4-2013: Poorvika Mobiles, Dindigul make the following purchase order to LG Mobiles Co.
Bangalore. Cell phones:
7-4-2013: Received the ordered items from LG Mobiles Co. Bangalore for the purchase order
No: PO-101. Ref. No./Tracking No:R-105
Answer:
2. To view order position: Gateway of Tally > Display > Statements of Inventory >
Purchase order outstanding
4. To view order position: Gateway of Tally > Display > Statements of Inventory >
Purchase order outstanding > All Orders
Note: Since the purchase order is cleared there will be no purchase order details.
Example:
New Century Book House, Madurai shows the following business transactions for the month of
April 2014
1-4-2013: Purchase order to S.Chand Co. Delhi Order No: PO-150, Due on:8.4.2013
5-4-2013:Sales order received from PR Book shop, Trichy Order No:SO-215, Due on:10-4-2014
7-4-2013: Received goods from S.Chand Co for purchase order No:PO-150, Ref:R-801,
Tracking No:R-801.
8-4-2013: Purchase Bill Received from S.Chand Co for Receipt Note No:R-801, Bill No:P-2001
10-4-2013: Good delivered to PR Book Shop for Sales order No: SO-215, Ref: D-1300, Tracking
No: D-1300
11-4-2013: Sales Bill made to PR Book shop for Delivery Note No: D-1300, Bill No: S-3001
BATCH-WISE DETAILS
Batch details are used to identify the movement of inventory in batches or lots. Although this is a
requirement primarily of the pharmaceutical industry, the same can be used by other industries
that maintain or manufacture perishable goods. Many organisations also purchase in batches in
order to monitor the result of the batch purchased individually. Hence, Tally.ERP 9 has used the
term Batch/Lot.
Batches/Lots are also often used to monitor the date of manufacture, date of receipt or the
expired date. Expiry date cannot be prior to the voucher date.
Activate:
F11: Features > Inventory Features (F2) > Maintain Batch-Wise details - Yes
Gateway of Tally > Inventory Info > Stock Items > Maintain in Batches – Yes
Result:
Gateway of Tally > Display > Inventory Books > Ageing Analysis
Example:
Bill is made only for Actual goods not for free goods. But the stocks contain both billed and
actual quantity.
Activate:
F11: Features > Inventory Features (F2) > Use different Actual & Billed Qty - Yes
Result:
Example:
1 pack of Hamam soap is given free on every 3 pack of Hamam soap Rs.15/soap
1 Bottle of Lion Date Syrup is given free on every 1 bottle purchased Rs.80/bottle
Note:
Actual quantity will update stock and billed quantity will be used to compute transaction value.
The cost of an item is the rate at which the item is purchased. However, there are other expenses
like Packing charges, Freight charges, Cartage incurred, etc. which add to the cost of purchasing
the item. Thus, the additional cost details are required to be added to the actual cost of purchase.
Purchase cost includes all those expenses related to purchase. The use of this option are known
as the “Effective rate of purchases”
Activate:
F11: Features > Inventory Features (F2) > Use different Actual & Billed Qty – Yes
Result:
Gateway of Tally > Display > Inventory Books > Stock Item
Example:
1-4-2013: Purchased writing board from Newply Co. 100 nos @ Rs. 80/no (Credit Purchase)
Additional Cost Details: Sales Tax 4%, Packaging Charges Rs.100, Carriage Rs.100
Bill Details:
Additional Cost:
Carriage 100
8,520
Answer:
Gateway of Tally > Display > Inventory Books > Movement Analysis > Stock Item Analysis >
Select the item – Press enter key. Form that screen press F12: Configure set ‘yes’ to all option.
BILL OF MATERIALS
In manufacturing process product will be produced with many components or spare parts or raw
materials. These goods are called Bill of Materials.
The BOM should be available while manufacturing an item. Hence, first enable manufacturing
entries. This is done through a stock journal. It is wise to create a new voucher type –
Manufacturing journal which is based on stock journal. Stock journal is used as manufacturing
journal
Activate:
Gateway of Tally > F12: Configure > Accts/Inventory Info > Allow component list details (Bill
of Materials) – Yes
Result:
Gateway of Tally > Display > Inventory Books > Stock Item
Example:
To manufacture 100gm/1 unit of Vicco Tooth powder needs the following components
Babhul 16
Manji 16
Bor 22
Vajradanthi 14
Bakul 22
Maifal 10
Steps:
1. Voucher Type creation : Gateway of Tally > Accounts Info > Voucher Type > Create –
‘Manufacturing Journal’ – Stock Journal. Use as Manufacturing Journal - Yes
3. Stock Item Creation: 1. In ‘Component’ stock item creation screen ex. Babhul
Set component (BOM)? No. Create other Component stock item
2. In ’Main’ Stock item creation screen (ex. Vicco Tooth Powder)
Set component (BOM)? Yes
Components of: Vicco Tooth Powder Unit
of Manufacture :1 Unit
4. Voucher Entry: Voucher Type > Stock Journal (ALT+F7) > Select Manufacturing Journal.
In Manufacturing Journal:
Example:
To manufacture 500 gm/1 unit health powder needs the following components
Wheat 75
Maize 125
Beans 50
PRICE LIST
Price List refers to a list of items maintained by an organisation along with their price details. A
price list is generally used by organisations which deal in multiple products. Price Lists are
maintained in various structures for different types of buyers (customers), viz., Wholesalers,
Dealers, Retailers, etc. The price list is structured based on the classification of buyers and is
referred to at the time of making sales. Whenever the sale prices change (on the basis of time),
the changes reflect in the Price List also. In case of bulk sales, discounts can also be given to the
buyers.
Usage:
a) For classes of business like whole sale, retail, export and dealership.
Activate:
F11: Features > Inventory Features (F2) > Use Multiple Price Levels – Yes
2) Retail Sales
3) Export
4) Dealerships
Stock Items
Units of Measure
Example:
Following are the price list of Saranya Book Store, Madurai on 1-4-2013
(A)Retail Price
Account Book
Maths Book
English Book
Account Book
Less than 50Nos Rs. 315
Maths Book
English Book
25.4.2013: Sold to New Century Book Shop (Retail sales) for cash
Value Added Tax (VAT) is an indirect tax on goods, introduced in lieu of sales tax, to ensure
transparency and greater compliance. The basic premise of VAT is to levy tax on the ‘true value’
added to the goods, at each stage in the transaction chain.
F11: Features > Statutory & Taxation (F3) > Enable Value Added Tax – Yes
Depending on the Input VAT paid during purchases and the output VAT availed on sales, VAT
Refundable or Payable is calculated in this section by Tally.ERP 9. The difference between Input
VAT and Output VAT = VAT Refundable.
Gateway of Tally > Display > Statutory Reports > VAT Reports > VAT Computation
VAT Rates:
Vat @ 1%: Goods like gold, silver, precious metals and stones etc.
Vat @ 4%: Largest no of goods (270) which include commodities used in daily life, drugs,
medicines, agriculture, industrial inputs, capital goods and declared goods.
Goods outside VAT: Items whose prices are not fully marketed determined. E.g. Liquor, lottery
tickets, petroleum products
Exempted from VAT: It is a list of 40 commodities which includes natural and unprocessed
products in unorganized sector
PAYROLL
Payroll refers to a series of accounting transactions involved in the process of paying employees
for the services rendered after taking all the statutory and non-statutory deductions into account,
in conformance with the terms of employment, company policy and the law of the land i.e.,
payment of payroll taxes, insurance premiums, employee benefits and other deductions.
Tally payroll is integrated with accounting to give the user the benefit of simplified payroll
processing and accounting. Tally payroll enables user to setup and implement salary structure
ranging from simple to complex as per the organization requirement.
Activate:
F11: Features > Accounting Features (F1) > Maintain Payroll – Yes
F11: Features > Statutory & Taxation (F3) > Enable Payroll Statutory - Yes
Result:
STEP 1:
Gateway of Tally > Payroll Info > Units (Work) > Create > Unit Creation
STEP 2:
Gateway of Tally > Payroll Info > Attendance/Production Types > Create
Overtime Production
STEP 3:
Gateway of Tally > Payroll Info > Employee Groups > Create
STEP 4:
Gateway of Tally > Payroll Info > Employees
STEP 5:
Gateway of Tally > Payroll Info > Pay Heads > Create
Gratuity
Reimbursements to Employees
(1)Basic Salary
(2)HRA
(3)Conveyance
(4)DA
(5)PF
(6)Professional Tax
(7)Gratuity
STEP 6:
Gateway of Tally > Payroll Info > Salary Details > Define > Name of Employee/Group (select)
STEP 7:
Payroll (CTRL+F4)
Payroll Voucher: ALT+A for Autofill. Now a screen “Employee Filters” appear
STEP 8:
Account: Cash; Press ALT+A, Select salary payable and press enter. Now tally
Automatically transfer the salary amount employee a/c is debited and cash a/c is credited.
Display:
Example:
Eminent Technologies provide the salary details for the month of ‘April – 2013’
Bank Detail 6601, SBI, MDU 6602, SBI, MDU 6607, SBI, MDU
Salary Heads
Monthly Payments
HRA Upto Rs. 5000 -> 3% Upto Rs. 5000 -> 3% Upto Rs. 5000 -> 3%
Upto Rs. 5000 -> 4% Upto Rs. 5000 -> 4% Upto Rs. 5000 -> 4%
PF 6% 7% 8%
Gratuity 25days upto 24months 25days upto 24months 25days upto 24months
Attendance Details
Month Days 26 26 26
Present 22 20 21
Absent 2 2 1
Paid leave 2 2 2
Unpaid Leave _ 2 2
Over Time _ _ _
Net Salary ? ? ?
_ 3,000.00 Value 0
3,000.00 4,999.00 Value 30
F11 To select the functions and features At almost all screens in Tally
screen
Enter To accept anything typed into a field. At almost all areas in tally
To accept a voucher or master
Esc To remove what you typed into a field. At almost all screens in tally
To come out of a screen
Shift+Enter Collapse next level details At voucher register screen and Trail
balance report
ALT+P Print
F2 Date
ALT+F2 Period
Problem: 1
Answers:
Gross Profit: 1, 24,500 Net profit: 1, 19,500 B/S: 5, 69,500
Problem: 2
Answers:
Gross Profit: 19,750 Net Profit: 14,250 B/S: 5,84,250
Problem: 3
Answers:
Gross Profit: 7,500 Net profit: 2,500 B/S: 3, 05,000
Problem: 4
Answers:
Problems 5
Answers:
a. Company Info > Back up b. Company Info > Split Company Data
a. 1st April of any year b. 31st March of any year c. All of them are true d.None of these
a. Company Info > Alter b. Company Info > Alter Company c.Gateway of Tally > Modify
Company d. None of these
a. F1 b. F5 c. F2 d. F9
9. F12 is known as
c. It will not show the Company Name in the Company Select List.
d. None of these
11. We can show Bill wise details of Debtors and Creditors by activating
a. 29 b. 31 c. 25 d. 34
17. To activate MRP feature from Gateway of Tally initially we need to press
a. 2 b. 3 c.5 d. Unlimited
22. To activate Job Costing which options require to be activated?
a. Tally Audit b. Use Security Control c. Both (a) and (b) d. None of these
30. “Allow components list details (Bill of Materials)” option is activated for
a. Sales Invoice b. Purchase Invoice c. Both (a) and (b) d. None of these
a. Account Books b. Cash and Fund flow c. Inventory Books d. Statements of Accounts
a. F12 b. F10 c. F5 d. F6
a. Conventional Voucher b. Unconventional Voucher c. Both (a) & (b) d. None of these
a. Capital Account b.Current Liabilities c. Duties & Taxes d. Misc. Expenses (Assets)
53. Goods returning to a Creditor after challan but before bill we need to pass
a. Debit Note b. Receipt Note c. Rejection Out d. Rejection In
55. To use Dr/Cr instead of To/By during Voucher entry or vice versa, Press
a. Display > Statements of Accounts > TDS Outstanding > TDS Computation
60. To show the cheque number while reconciling Bank Accounts press
62. Total number of Ledgers, Groups, Entries etc. can be shown from
c. Gateway of Tally > Display > Statement of Accounts > Gratuity Reports
d. None of these
69. At the time of Branch Transfer, Sales ledger is created under which Vat/Tax Class?
70. Memorandum Voucher does not affect Books of Accounts. a. True b. False
a. Alt+F2 b. Alt+F3 c. F2 d. F1
a. 5 b. 4 c. 3 d. 2
96. Transfer from Main Cash to Petty Cash you require to pass ……………… voucher.
97. If the Financial Year from is 1st April 2005 and the Books Beginning from is 1st January
2006 then what will be the Closing Date?
a. 31st Dec 2006 b. 31st March 2006
98. Income Tax number of the Company will appear in which report?