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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.

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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.

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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 1980s 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

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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

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Ledger creationIf 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 . After vouching we can make ledgers ,trial balance and then financial statements. Before vouching we have to know about the and then we should which is according to the nature of the voucher. For example if we want to make entry of then we should record it in voucher.

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Shortcut keys and details of different vouchers Shortcut F4 F5 F6 F7 F8 F9 Alt +F7 Why we use this voucher For bank entries For cash payment For cash receipt For adjustments For credit sales transaction For credit purchase transaction For stock items For purchase return For sales return2/13/2011 12

Voucher Contra Payment Receipt Journal Sales Purchase Stock journal Debit note Credit note

Here we can write narration.We can use calculator by pressing ctrl + N

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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 FeaturesIn 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 in Tally then press . 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.

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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

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Overdue OutstandingWe 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 calculationIn 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.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.`

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Optional voucher is another feature of Tally . Here we can enter some regular transactions in advance but the effect of the transaction cant 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.

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Ratio analysis in Tally

Ratios available in Tally Working capital ratio Cash flow /fund flow statement Debt equity ratio Operating cost Current ratio Quick ratio etc

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Ratios in Tally

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Tally audit features

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Voucher audit in tally

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Tally features in brief Allow multi currency We can enter transaction in other currency and give details about exchange rate We can maintain payroll information We can get information about different cost centre can enter sales or purchase transactions into invoice form We can make different budgets and get variances in control we cant enter information beyond certain limits that we have fixed2/13/2011 35

Maintain payroll Maintain cost centre

Allow invoicing

Budgets and control

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.

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.

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Shortcut key Enter Esc Alt + F3 Alt + F1 F1 F2 F4 F5 F6 F7 F8 F9

use of key To select the option Quit from option/ menu Company info. Menu Shut company Select company To change the date Contra voucher Payment voucher Receipt voucher Journal Sales Purchase2/13/2011 38

Ctrl + f8 Ctrl + f9 F11 F12 Alt + 2 Alt + A Alt + C Alt + D Alt + E Alt + I Alt + o Alt + M

Credit Note voucher Debit Note Voucher Tally features Tally Configurations To Duplicate the voucher To add a voucher To create ledger To delete a voucher or master To export the report in ASCII, SDF, HTML OR XML format To insert a voucher To upload the report at your website To mail the report39

Alt + P Alt + R Alt + S ALT+ V ALT + W ALT + ALT + R CTRL + B CTRL + C

To print a report To remove a line in report To bring the line back that have removed From Invoice creen to bring Stock o rnal creen To view the Tally Web brow er. To cancel a vo cher in ay Book/Li t of Vo cher To Regi ter Tally To elect the B dget To elect the Co t Centre To elect the Co t Category

CTRL+ E

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CTRL + L CTRL + O CTRL + Q

To select the Ledger To select the Godowns To abandon a form wherever you use this key combination, it quits that screen without making any changes to it. Rewrite data for a Company Allows you to alter Stock Item master To select the Units To select the Purchase Order Voucher Type

CTRL + Alt + R CTRL + S CTRL + U ALT + F4

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ALT + F5 ALT + F6 ALT+ F8 ALT + F9 ALT + F10 ALT + F12 CTRL + ALT + F12

To select the Sales Order Voucher Type To view monthly and quarterly report To select the Rejection Out Voucher Type To change the Sales Order Voucher Type To select the Delivery Note Voucher Type To view the Columnar report To select the Receipt Note Voucher Type To select the Physical Stock Voucher Type To filter the information based on monetary value Advanced configurations

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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 dont 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..

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