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WELCOME TO THE WORLD OF TALLY 9

Name : jay KathraniREG. NO.: WRO-0349593

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We need accounting package because of numerous accounting transactions . A national or multinational firm cant record the accounting transactions and co-ordinate them without help of accounting in computer by help of accounting package. Now a days most of the business organizations depends upon various accounting packages for the process of accounting as well as auditing.

Why we need accounting package?

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As above stated accounting by computer is the mandatory in the growing business environment, many companies have introduced accounting packages such as Tally , E.X. of TATA consultancy are the famous software available in market. Today I would like to share something about Tally with you.

Accounting packages available in market

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Tally from a window – a history and position of Tally in India

Basically tally is Bangalore based company and was started during 1980’s and the firstly Tally was a dos based accounting package but the company made changes as according to the requirement of the society and got success in accounting software market. Tally is enjoying dominant position in the market . So tally being an Indian company made such success so it is a mater of proud for Indians as according to a survey 71% of Indian PCs have Tally as in built software and we can think about the importance of Tally .

What is the meaning of Tally?

The Tally was an ancient memory aid device to record and document numbers, quantities or even messages.

Tally ERP 9 is the latest version of Tally here the term ERP stands for Enterprise Resource Planning

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Something From Developer.. Mr. Bharat Goenka explains with

brief history of Tally ,” when we started in early 1980s everyone in the software industry was in software industry , but soon they shifted to services, we were the only ones stubborn in staying in products. We had a belief in India and Indian business”

Mr. S .S. Goenka and Mr. Bharat Goenka

Mr. Bharat Goenka

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After installing tally when we start it , the first screen of

tally is welcome screen and the second is Gateway of

Tally .Gateway of Tally is the main path from where all

accounting processes can be done so it is just like homepage of Tally. It

includes Masters , Transactions ,

Imports ,Reports menus . So it is the most important part

of tally

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We cant do any work in Tally without creating a company. The organization , the transactions of which are recorded in Tally is known as company. If we want to create a company in Tally then we should follow the path. We have to open company information menu as per picture

alt+f3

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After following above said process , you will find such form given in the slide. Here you are asked some information about company . After filling it, press enter key twice then you will find such company in Tally and after that you can work in it such as creating ledger, voucher entry .etc.

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After following above procedure we can find Gateway of Tally and can start accounting.

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Ledger creation

If we want to record our transactions in tally , we will have to create ledger in it from account info. Option in tally Gateway screen then select ledger and create option.

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Vouching is the main process of accounting . After vouching we can make ledgers ,trial balance and then financial statements.

Before vouching we have to know about the nature of transaction and then we should opt the voucher which is according to the nature of the voucher.

For example if we want to make entry of bank transaction then we should record it in Contra voucher.

Accounting Vouchers in Tally

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Voucher Shortcut Why we use this voucher

Contra F4 For bank entries

Payment F5 For cash payment

Receipt F6 For cash receipt

Journal F7 For adjustments

Sales F8 For credit sales transaction

Purchase F9For credit purchase

transaction

Stock journal Alt +F7 For stock items

Debit note For purchase return

Credit note For sales return

Shortcut keys and details of different vouchers

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We can use calculator by pressing ctrl + N

Here we can write narration.

The invoice mode is available for sales and purchase vouchers.

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Before entering voucher we would like to set some configurations in Tally. In Tally we can set accounting systems, inventory details , and some other changes as shown in the picture. We can change our accounting system from single entry to double entry system and vis-a-vis. These changes are not mandatory but help us if we are habituated by it.

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Tally Features

In Tally we have some features through which we can maintain our accounts as per some requirements. For example we can maintain cost accounting records with financial accounts. We can maintain payroll through such features. If you want to change features in Tally then press F11. the menu beside is shown in Tally.

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Accounting features in Tally

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General features in which we can set accounts with inventory, use the word Income/Expenditure A/c instead of P/L A/c

In the outstanding management features we can maintain bill wise details.

We can calculate interest. We can make records as per cost centre. We can also use invoicing features and other

features Some main features in tally are explained

here.

Details of accounting features in Tally

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By use of bill wise details feature we can maintain the details of the transaction such as credit period due date .etc. Moreover we can know about such transactions the due date of which is forgot we can know about such bills by using exceptional report. Gateway of tally…Display

Exceptional reports

Overdue payables

Bill by bill details

Main features in Tally

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Overdue Outstanding

We can also do such work(bill wise details) for our debtors and can know about overdue receivable amount of bills. Such feature allows the firm to know about the due dates and other details of their bills receivable as well as bills payable

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Interest calculation

In regular business practices interest is calculated on credit sales and purchase. So Tally provides us interest calculation facilities It helps us to calculate interest on different basis.

We can calculate interest on transaction by transaction basis or on the balance.

Here we can fix monthly or yearly interest rate and can calculate interest from various dates.

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We can create budgets in Tally and can analyze the actual situation with expected situations.

Budgets in Tally

Active budget feature in tally

Create budget through account info

See its effect on various reports

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We have to create additional column in the report by alt+c

Then we can see the budgeted figures in tally reports and can get variances of it.

How to see Effect of budget

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Here we can see the effect of the budgets that is shown in Trial Balance

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Optional VouchersOptional voucher is another feature of Tally . Here we can enter some regular transactions in advance but the effect of the transaction can’t be seen in reports such as trial balance, P/L A/c etc we can see such type of vouchers in optional voucher option which is in display menu.

Display

Exception report

Optional voucher

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If you want to make the optional voucher into regular voucher then in “optional voucher” option, make the voucher regular by pressing ctrl + L

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Statutory and taxation features in Tally

In Tally we can set taxation and statutory features . We can set the details regarding TDS, CS, VAT, Excise, Service Tax etc.

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Inventory features in Tally

In Tally we can set some Inventory features such as maintaining multiple godowns , stock items and categories and details about invoicing etc

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Final statements in Tally

We can get financial statements in Tally from Report menu . We can gat more details about financial statements by pressing alt + F1 key . We can also print statements in Tally by using print features.

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Printing financial statements in Tally

We can print financial statements by pressing alt + p in the concerned statement and can set features relating to it .

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Ratio analysis in Tally

As we all know that Tally is an accounting package . Generally people believe that accounting means book keeping but it is not fact. Book keeping is apart of accounting . Moreover accounting involves analysis and one of them is ratio analysis. Tally provides us Ratio analysis tools . Through Tally we can access various ratios which are intrinsic for the development of the business. Just book keeping can’t give you the idea of the situation of the business. So we have to use ratio tools.

Ratios available in TallyWorking capital ratioCash flow /fund flow statementDebt equity ratioOperating costCurrent ratioQuick ratio etc

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Ratios in Tally

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Tally audit features

Basically Tally is not audit software it is a accounting software though it provides us audit features . In tally we can do audit work. It provides us the details of altered vouchers. Here we can check the vouchers and verify them.

If we want to make Tally audit then we have to activate Tally audit features through company alteration screen. Go to company info. And then select alter option and activate Tally audit features.

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How to do audit in Tally

Gate way of Tally

Display

Statements of accounts

Tally audit

In Tally we can make audit as above stated if you want to do audit work in Tally then follow the path displayed here. Here we can make audit of vouchers as well as ledgers.

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Voucher audit in tally

Here you can verify the voucher by selecting it and can make alteration in it and can delete it. In the same manner you can verify the ledgers.

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Tally features in brief

Allow multi currency

We can enter transaction in other currency and give details about exchange rate

Maintain payroll We can maintain payroll information

Maintain cost centre We can get information about different cost centre

Allow invoicing can enter sales or purchase transactions into invoice form

Budgets and control

We can make different budgets and get variances in control we cant enter information beyond certain limits that we have fixed

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Split, Back up and Restore company in Tally

Split

In Tally we can split the data that means we can divide our main company into parts. When the books for the previous year is completed then it is good for us to split the data . The split of data can be done through split company option in company info. menu . So the closing balance of the first company become the opening balance of the second company.

Back up

Generally we are using the pirated version of the Tally so there is possibility of lose of data due to some reason like power cut during work . So if we use the back up in Tally then it will help us for safety . It is not only necessary for pirated version but also for original version .

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As above stated if we have back up of Tally company then we are able to get it in situation where original file is corrupted

In Tally we can do such type of work with help of restore button which is located in company info. menu. So by help of restore we can get the corrupted company back.

Restore

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Shortcut key use of key

Enter To select the option

Esc Quit from option/ menu

Alt + F3 Company info. Menu

Alt + F1 Shut company

F1 Select company

F2 To change the date

F4 Contra voucher

F5 Payment voucher

F6 Receipt voucher

F7 Journal

F8 Sales

F9 Purchase

Shortcut keys in Tally

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Ctrl + f8 Credit Note voucher

Ctrl + f9 Debit Note Voucher

F11 Tally features

F12 Tally Configurations

Alt + 2 To Duplicate the voucher

Alt + A To add a voucher

Alt + C To create ledger

Alt + D To delete a voucher or master

Alt + E To export the report in ASCII, SDF, HTML OR XML format

Alt + I To insert a voucher

Alt + o To upload the report at your website

Alt + M To mail the report

Shortcut keys in Tally

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Alt + P To print a report

Alt + R To remove a line in report

Alt + S To bring the line back that have removed

ALT+ V From Invoice screen to bring Stock Journal screen

ALT + W To view the Tally Web browser.

ALT + X To cancel a voucher in Day Book/List of Vouchers

ALT + R To Register Tally

CTRL + B To select the Budget

CTRL  + C To select the Cost Centre To select the Cost Category

CTRL+ E To select the Currencies

CTRL + G To select the Group

CTRL + I To select the Stock Items

Shortcut keys in Tally

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CTRL + L To select the Ledger

CTRL + O To select the Godowns

CTRL + Q To abandon a form – wherever you use this key combination, it quits that screen without making any changes to it.

CTRL + Alt + R Rewrite data for a Company

CTRL + S Allows you to alter Stock Item master

CTRL + U To select the Units

ALT + F4 To select the Purchase Order Voucher Type

Shortcut keys in Tally

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ALT + F5 To select the Sales Order Voucher TypeTo view monthly and quarterly report  

ALT + F6 To select the Rejection Out Voucher TypeTo change the Sales Order Voucher Type

ALT+ F8 To select the Delivery Note Voucher TypeTo view the Columnar report

ALT + F9 To select the Receipt Note Voucher Type

ALT + F10 To select the Physical Stock Voucher Type

ALT + F12 To filter the information based on monetary value

CTRL + ALT + F12 Advanced configurations

Shortcut keys in Tally

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Conclusion -Tally something from web

Tally is a sea of accounting you may feel that you know Tally but when you put it into practice, you will feel that you don’t know everything in it but you know something in it. So for a person who is concerned with daily usage of Tally, on internet many sites provides you facility of learning Tally. Everyone might know everything about Tally but he can enrich his knowledge through this facility. Some of them are…..

www.tallysolutions.com www.tally9.infowww.tallynine.comwww.tallyworld.com

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