TALLY FINAL REPORTS

Tally is a Financial and Inventory Management

System. Tally is one of the acclaimed Accounting
Software with large user base in India and abroad. Tally is
developed by Tally Solutions Pvt. Ltd., Bangalore.

The given project on Tally has been done to show

various applications of Tally as accounting software and
its usage in the computerized environment.

The subject of the project is that a company named

Future Communications Private limited uses tally in
computerized accounting system. A part from the usual
feature of double entry system of book keeping, various
financial and inventory reports that can be generated by
using tally has been highlighted in the project. The
following are the samples of the financial and inventory
reports generated using tally which helps in decision
making.

LET US START OUR PROJECT IN

TALLY

TO CREATE A COMPANY
 1.Click on the tally icon on the
desktop.
2.The above screen will be
displayed.
3.From here, we can start
creating a new company as
shown.
The screen will be displayed to create
a company.

The Name, mailing address and

other details will be given to proceed
further.
After complying with all the details , it will ask you
to accept the above conditions and enter into
company.

Click YES to continue.

NOW, The above screen will be displayed.

FIRST OF ALL , we will have to enter Accounts Info.

Then  ledgers.
A screen will be displayed showing two categories
viz, Single ledger & multiple ledgers.

Enter into single ledger and click on Create.

The above screen will be displayed.

Enter the names , category of all the ledgers and

opening
balances of CASH A/C & CAPITAL A/C and fill other
required
informations too.
After creating all the necessary ledger accounts,
again come back to the main screen to start
entering the Accounting Vouchers.
After that , a screen will be displayed as shown
above. The right panel is giving us idea as to which
account is to be influenced. For example:-

F1: Inventory Buttons F7: Journal

F2: Date F8: Sales
F3: Company F8: Credit Note
F4: Contra F9: Purchase
F5: Payment F9: Debit Note
F6: Reciept F10: Rev. Jrnl
F11: Features F12: Configure
Problem based on accounts
dealt in Tally :-
TRANSACTIONS :-
1)Introduced cash into business as
capital - Rs.1,50,000
2)Purchased stock for cash - 30,000
3)Purchased stock from Ramesh –
45,000
4)Sold googs to Suresh - 20,000
5)Purchased furniture for cash – 12,000
6)Cash received from Suresh – 15,000
7)Commission received for cash – 2,500
8) Goods sold for cash – 22,000
9)Paid manager salary in cash – 3,000
10) Purchased goods for cash from
Vinay – 8,000
11) Paid rent to Mahendra in cash –
1,500
Now the above transactions can easily
be dealt in ledgers.

The Following reports can be drawn :-

1) Profit & Loss account.

2) Trial Balance
3) Balance Sheet.
4) Ratio Analysis.

TRIAL BALANCE
PROFIT & LOSS ACCOUNT

Balance Sheet.
Ratio Analysis.
 LEDGER ACCOUNTS
CASH ACCOUNT

COMMISSION ACCOUNT
FURNITURE ACCOUNT

PURCHASES ACCOUNT
RAMESH ACCOUNT
RENT PAID ACCOUNT

SALARIES ACCOUNT
SALES ACCOUNT

SURESH ACCOUNT
Inspite these ledgers , we can also
draw conclusions regarging cash
flows, fund flow etc.
A brief display is given in upcoming
pages.

FUND FLOW STATEMENT

 DAY BOOK

We can also stay in touch with our

list of accounts . In Display menu 
List of account
 TO MAINTAIN STOCK IN
GROUPS

1. Enter into gateway of tally.

2. Click on Inventory info

3. Click on Stock groups now. The

Screen as shown below will be
displayed.
4. Click on Create in
single/multiple stock group.
Here, single group is selected.

5 . The screen as shown below

will be displayed.
Fill the name ,i.e. , computer.

Again come to inventory info and

enter into units of measure . The
Screen will be displayed as under.
Click on Create to enter the
following screen.
Enter pcs. in symbol box and
proceed.
Again come to inventory info. 
Stock Items
The screen will be displayed as
shown below.
Enter one by one , all the items to
be included. A specimen is shown
below
Fill the Name column, category,
pcs etc.

A display of the list of items is

shown as under.
Again come to Gateway of tally 
Accounting vouchers.
The screen as shown below will
be displayed(F9)
Allot every transaction of purchase.
Allot every transaction of sales,

Sales transactions are as under

Again come to Gateway of Tally 
Reports
 Stock Summary

The Following screen will be

displayed to you.
By This way , we can maintain our
stock summary in tally.

COST CENTER

A PROBLEM BASED ON COST

CENTRE

1. The first thing which we have to keep in

our mind is to configure its FEATURES . It
can be done by pressing F11 key at the
gateway of tally.
The cost centre function will be activated.
Now maintain some ledger accounts of salary
and commission to be given to staff
employees
After that, enter into accounting voucher
creation. The following screen will be
displayed

Enter account name say cash account.

Click on particulars.
The following screen will be displayed.

Allot name of the cost category  Staff

Allot name of the cost center  Salary /
Commission
Enter one by one all the transactions
regarding salary and commission

1. Commission given to Sita ,

Khan Somya were 20000,
 10000 & 50000 rupees
respectively and salary Rs.
50000 , 40000 , 30000
respectively.

Like this , we can maintain a cost center

also.