TALLY ERP9

FINAL ASSINGMENT FACULTY INCHARGE-KEETHI MAM TOPIC-ACCOUNTING WITH TALLY.ERP9

PRESENTED BY KRUPAL H.MEHTA DATE-11/07/2011

What is accounting?

Accounting is the science and art of identifying, recording, classifying, summarizing and reporting the financial records of an individual, firm or a company. Types of accounts? -Personal Accounts -Real Accounts -Nominal Accounts Golden Rules of Accounting? Personal Account-DEBIT THE RECEIVER & CREDIT THE GIVER. Real Account-DEBIT WHAT COMES IN & CREDIT WHAT GOES OUT. Nominal Account-DEBIT ALL EXPENSES AND LOSSES & CREDIT ALL INCOME AND GAINS. ACCCOUNTING CONCEPTS & CONVENTIONS. Accounting concepts define the assumptions on the basis of which financial statements of a business entity is prepared. The various accounting concepts are as follow: Entity concept Money Measurement concept. Periodicity concept Accrual concept Matching Concept Going concern concept Cost concept

 Realization Concept Dual aspect concept Conservation Concept Accounting Conventions emerge out of accounting practices, commonly known as accounting principles, adopted by various organizations over a period of time. The various accounting conventions are as follows: Understandability Relevance Reliability Comparability Materiality Faithful representation ACCOUNTING WITH TALLY.ERP9 Tally is an accounting package which is used for maintaining your accounts electronically. GENERAL FEATURES OF TALLY.ERP9 It maintains all the primary books of accounts, like Cash Book and Bank Book. Tally maintains all registers like Purchase Register, Sales Registers and Journal Registers. Tally maintains all statement of accounts like Balance Sheet, Profit and Loss and Trial Balance, Cash Flow and Stock Statement. It provides the facility of Bank Reconciliation.

PROCESS OF ACCOUNTING IN TALLY.ERP9. After a business transaction is carried out a certain process is to be followed to maintain its record it in books of accounts.

PURCHASE OF GOODS: For any purchase of goods, TALLY.ERP9 provides purchase voucher which can be accessed as follows: GATEWAY OF TALLY -> ACCOUNTING VOUCHERS ->F9 PURCHASE VOUCHER SALE OF GOODS For any sale of goods, TALLY.ERP9 provides sales voucher which can be accessed as follows: GATEWAY OF TALLY -> ACCOUNTING VOUCHERS ->F8 SALES VOUCHES CONTRA ENTRIES GATEWAY OF TALLY -> ACCOUNTING VOUCHERS ->F4CONTRA VOUCHER JOURNAL ENTRIES GATEWAY OF TALLY -> ACCOUNTING VOUCHERS ->F7JOUNAL VOUCHER PAYMENT ENTRIES GATEWAY OF TALLY -> ACCOUNTING VOUCHERS ->F5 PAYMENT VOUCHER RECEIPT ENTRIES GATEWAY OF TALLY -> ACCOUNTING VOUCHERS ->F6 RECEIPT VOUCHERS

ACCOUNTING WITH TALLY.ERP9 Tally ERP.9 has various features from creation of company to final preparation of accounting statements. Features of Tally.ERP9

With or without inventory Accounting year selection.

User friendly software.

Currency. Easy creation on online ledgers & inventory (Alt+C).

Easy creation of all vouchers. ERP-Enterprise, resource, payroll. Online submission of forms; such as VAT 100, ESI, PF forms, ECT.

Computation of VAT, making easier for payment. Easy methods of entries of purchases, sales , leading to final preparation of final account, easy and fast.

Security control to have a check on mis-use of data and softwares

Easy import & export , upload of data to various softawres such as MS word , Excel , Adobe reader etc .

Maintenance of Stock summary, cost analysis of a product.

Ratio Analysis of Assets to Liabilities

Maintenance of price list making raising of purchase, sales order & purchase , sales invoice .

Creation of budget for a financial year VARIOUS FORMS AND STATEMENT GENEATED BY TALL

Excise purchase and sales register

Excise stock register Form RG-23D Form 2

PLA Register

Form ER-1 CENVAT register VAT Computation VAT form 100 VAT form 115 VAT Annexure-I VAT Annexure-II VAT Annexure-III EVAT Purchase EVAT Sales CST forms receivable , payable Service tax reports TDS reports

 TCS reports FBT reports ADVANCED FEATURES OF TALLY.ERP9 Bill wise details Cost Centre & Cost Categories Voucher Class Multiple Currencies Interest calculation Budgeting Scenario Management Order processing Batch wise details Bill of materials Price lists Zero valued entries Point Of Sale(POS) Job costing Multilingual capabilities Instant Local and online help Payroll Attendance vouchers

 Payment vouchers Processing of ESI,PF.

CONCLUSION-From the various topics discussed we can conclude that TALLY.ERP9 has a wide scope in accounting for small firms , PVT company etc.TALLY.ERP9 is user friendly so easy to access by a common man , hence it has a very fast adaptability ,over other softwares available in market.