PRACTICAL FILE

FOR

BASIC ACCOUNTING SOFTWARE

BCOM- 211

SEMESTER- 3RD
SUBMITTED BY:

NAME: ATUL DALAL

ENROLLMENT NO: 01161188822

SEMESTER: 3RD

CLASS: 3C

***LAB-FILE***

Department of Commerce
Maharaja Agrasen Institute of Management Studies
Affiliated to Guru Gobind Singh Indraprastha University, Delhi
Sector -22, Rohini, Delhi -110086, India; www.maims.ac.in
 ACKNOWLEDGEMENT
“I have taken efforts in this project. However, it would not have been possible without the kind
support and help of many individuals. I would like to extend my sincere thanks to all of them.

I am highly indebted to Ms. Srishti Garg, Assistant Professor, Department of Commerce for
her guidance and constant supervision as well as for providing necessary information regarding
the project & also for her support in completing the project.

I would also like to express my gratitude towards my parents & Dr. Manju Gupta, HOD,
Department of Commerce for their kind co- operation and encouragement which helped
me in completion of this project.

My thanks and appreciation also go to my colleague in developing the project and people who
have willingly helped me out with their abilities.
 DECLARATION

I Atul Dalal hereby declares that the present project report is submitted in partial fulfilment of
my B.com (Hons.) degree. The work was carried out with sincerity and complete dedication. All
the assignments done are completed by me only and has not been copied from anywhere else.
 INDEX
S.NO TOPICS Page
No.
1. Creating a company
2. Alteration, Deletion, Shutting down company
3. Steps For creating groups and ledgers
4. Creating Groups
5. Creating Ledgers
6. Ledgers in a GST enabled Company
7. Vouchers In Tally
8. Journal Entries
Creation, Alteration, Deletion of Stock Groups, Stock Items,
9. Units
10. Creation, Alteration, Deletion of Stock Categories, Godown
11. Entry of Stock Groups, Stock Categories, Stock Items

12. Creation and usage of Inventory Vouchers

13. Entry of Inventory Vouchers.
14. Creating Stock groups, Stock Items, Units, Stock Categories
15. Backing Up Tally
16. Restoring data in Tally
17. Bank Reconciliation System in Tally
18. Exporting of Data
19. Importing of Data
20. Accounting Ratios
21. Interest Calculation
22. Bills of Materials
23. Generate and Print reports in Tally
24. National Traders Transaction
25. Journal Entry
 ASSIGNMENT - 1
Creating a New Company

Q1. Write down the necessary steps for creating a new company in tally along with necessary
screenshots. Create 5 companies in tally with your name.
A1. Necessary steps for creating a new company in tally are as follows:

STEP-1: Launch Tally

Open Tally software on the computer

STEP-2: Select the “Create Company” option

From Gateway of Tally, press the “Alt + F3” keys or use the mouse to select “Create
Company” from the menu.
STEP-3: Enter Company Details
Enter various company details including.
 Company Name: Provide a unique name for the company
 Mailing Name: This can be the same as the company name or a shorter version.
 Address: Enter the company’s mailing address.
 State: Select the state in which your company is located.
 PIN Code: Enter the postal code.
 Country: Select your country.
 Phone No.: Enter the company’s contact number.
 Email: Provide an email address for the company.
 Website: If applicable, enter the company’s website URL.
 Financial Year: Select the start and end dates of the financial year.
 Books Beginning From: Set the date from which you want to start maintaining
accounts.

STEP-4: Enable Features

Enable certain features based on the business requirements. Select the appropriate options for
your company. These features include:
 Maintain Payroll: Enable this if you plan to manage employee payroll.
 Use Goods and Services Tax (GST): Enable if your company is registered for GST.
 Enable Multi-Currency: Select this if your business deals with multiple currencies.
 Enable Interest Calculation: Enable if you want to calculate interest on outstanding
amounts.
 Use Cost Centers: This is useful for tracking expenses by departments or cost centers.
 Use Budgets and Scenario Management: Enable for budgeting purposes.
 Use TDS (Tax Deducted at Source): Enable if applicable.
STEP-5: Review and Confirm
Review the company details and enabled features to ensure accuracy. Once everything is
correct, confirm the creation of the company.

STEP-6: Create Additional Companies (if needed)

Repeat the above steps for each additional company you want to create. Ensure that each
company has a unique name and relevant details.
 ASSIGNMENT - 2
Alteration, Deletion and Shutting

Q1. Write down the necessary steps for Alteration, Deletion and Shutting down a company in
Tally along with necessary screenshots.
A1. Steps for Alteration, Deletion and Shutting down a company in Tally are as follows:

Altering a company in Tally:

 Launch Tally and ensure you are on the Gateway of Tally screen.
 Press “Alt + K” or select “K: Company” on the upper half of the left side of your
screen
 Choose the “Alter” option and choose the company you want to alter
 Now make the necessary changes to the company details, such as the company’s
name, address, financial year, and enabled features.
 After making the necessary alterations, save the changes.
Deleting a Company in Tally Prime:

STEP-1: Press “Alt + K” or select “K: Company” on the upper half of the left side of your
screen
STEP-2: From the drop down, menu select “Alter” option

STEP-3: Select the company you want to delete from the “List of companies”
STEP-4: Press “Alt + D” and the request prompted will appear on the screen, to confirm the
deletion of the company press “Y” on the keyboard or select “Yes”
Shutting Down a Company in Tally Prime:

STEP-1: Press “Alt + K” or select “K: Company” on the upper half of the left side of your
screen
STEP-2: From the drop down, menu select the option “Shut” or press “Ctrl + F3”
STEP-3: Select the company you want to Shut Down from the list of available companies.
STEP-4: Confirm the action when prompted by pressing “Y” on the keyboard or selecting
“Yes” option.
 ASSIGNMENT - 3

Q1. Write down the steps along with screenshots for creating groups and ledgers in Tally.
Also show and explain in detail the already existing groups and ledgers in Tally.
A1. Creating Groups and Ledgers in Tally:

Creating a Group:
STEP-1: From the Gateway of tally, select “Create”.
STEP-2: From the list of Masters select “Group”
STEP-3: To create new groups, press “Alt + H” or select “Multi Masters” tab from bottom
right side of your screen.
STEP-4: From the List of Multi-Masters, select the “Multi Create” option.
 STEP-5: Now your newly created group would be visible in the “Charts of Accounts” under
the “Lists of Accounts” section.

Creating a Leger:
STEP-1: From the Gateway of tally, select “Create”.
STEP-2: From the list of Masters select “Ledger”
STEP-3: Now the Ledger Creation tab will appear on the screen, input all the details of the
ledger you want to create.
 STEP-4: Now your newly created ledger would be visible in the “Charts of Accounts” under
the “Lists of Ledgers” section.

A2. Existing Groups and Ledgers in Tally Prime:

Default Groups:
Capital Account: This group is used to record the capital investment made by the owner(s)
of the company.
Loans (Liabilities): This group is used for recording loans and borrowings. You may need to
create specific sub-groups or ledgers for different loans.
Current Liabilities: This group includes sub-groups for short-term liabilities like creditors,
outstanding expenses, and others.
Duties and Taxes: This group includes sub-groups for various taxes like GST, TDS, and
others.
Sales Account: This group is used to record revenue from sales. It includes sub-groups for
different types of sales, such as local sales, interstate sales, and export sales.
Purchase Account: This group is used to record expenses related to purchases. It includes
sub-groups for various types of purchases.
Indirect Expenses: This group includes sub-groups for indirect expenses like rent,
electricity, and other overhead costs.
Sundry Debtors: This group is used to record amounts receivable from customers or parties.
Sundry Creditors: This group is used to record amounts payable to suppliers or parties.
Default Ledgers:
Opening Balance: Tally usually creates an opening balance ledger to allow you to enter the
initial capital or funds introduced into the company.
Cash: The default cash ledger for recording cash transactions.
Bank: The default bank ledger for recording bank transactions.
Sales: The default ledger for recording sales transactions.
Purchase: The default ledger for recording purchase transactions.
Salary: The default ledger for recording salary expenses.
Rent: The default ledger for recording rent expenses.
Electricity: The default ledger for recording electricity expenses.
GST Payable: The default ledger for recording GST payable.
GST Receivable: The default ledger for recording GST receivable.
 ASSIGNMENT – 4
Creating Groups and Multi-groups

Q1. Create the following Accounting Groups:

A1.
1) North India Debtors

2) South India Debtors

3) North Delhi Debtors

4) Bhopal Debtors

5) Mysore Debtors
 6) Secunderabad Debtors

Q2. Create the following groups under Multi-groups creation option:

 ASSIGNMENT - 5
Single Ledger Creation

Q1. Create the following Ledgers in Tally Prime under single ledger creation option:

A1

1) Proprietor’s Capital Account

2) Land & Building

3) Milton & Co.

4) Kaltronic Ltd.

5) State Bank Of India

6) Local Sales

7) Local Purchases
8) Conveyance

9) Bank Interest
 ASSIGNMENT - 6
Creating ledgers in a GST enabled Company
Ques.1 Create the following Ledgers in Tally under single ledger creation option:
GST Enabled Company with the name of “Arnav_GST”, GST = 21AGHPB2764P1ZD