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TALLY Introduction (New)

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54 views

TALLY Introduction (New)

Uploaded by

kaVyaTae
Copyright
© © All Rights Reserved
Available Formats
Download as PDF, TXT or read online on Scribd
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INTRODUCTION TO TALLY

Accounts - Business language


Income high and Expenses low - Gain
Expenses high and Income low– Loss

History of Tally:
It is invented by Luca Pacioli [Italian
mathematician). He is referred to as “The father of
accounting and bookkeeping” by 1414.

Tally Introduced by Tally solutions Pvt Ltd., is an


Indian multinational company that provides
Enterprise resource planning software (ERP). It is
headquartered in Bangalore.one of India’s first
software product companies.

Founded  1988
Founder  Shyam Sunder Goenka (Executive
chairman) and his son Bharat Goenka (Managing
director)
Abbreviation:
TALLY - Tal Accounting Leading List Year.
TDL – Tally Definition Language.

1. It is a Package.
2. It is a Number Based Software.
3. It is User Friendly Software.
4. It is used to makes Total Year Auditing
Company.

Versions of Tally:

First version  2.0


It is starting version
Second Version 4.0
For Ledger & Voucher Creation
Third Version  5.4
For Sales tax
Fourth version  6.2
For purchase tax
Fifth version  7.0
For Tax
Sixth Version  9.0
All types of taxes
Seventh version  ERP
All types of taxes

Transactions:
Transfer of money, goods or services.

Transactions are two types:


(1) Cash Transactions (2) Credit Transactions

Accounting Record or Book Keeping


(1) Single Entry System
(2) Double Entry System

Single Entry System:


Only Cash Transactions Allowed.

Double Entry System:


Both Cash and Credit Transactions Allowed
Types of Account:

Personal Account Impersonal Account

Name of Person Real Account


Name of Book Nominal Account
Name of Company

Real Account:
Things That Can Be See and Touch.
Example: Furniture, Computer.

Nominal Account:
Things That Can’t Be Seen and Touch.
Example: Rent, Ebcharge, Telephone charge.

Golden Rules of Transactions:


Personal Account:
(1) Debit The Receiver.
(2) Credit The Giver.
Example:
Cash Deposited in Canara Bank Rs.10000.
Cash Deposited in CanaraBank-Debit the Receiver.
Rs.10000- Credit the Giver.

Real Account:
(1) Debit What Comes In
(2) Credit What Goes Out.
Example: Purchase Wall clock (Dr) for Rs.1000
(Cr).

Nominal Account:
(1) Debit All Expenses and Loss
(2) Credit All Income and Gain
Example: Paid Ebcharge (Dr) for Rs.5000 (Cr).

Journal:
(1) Capital
(2) Purchase
(3) Sales
(4) Invoice Bill – Bill No
(5) Sundry Creditor (Supplier)
(6) Sundry Debtor (Customer)
(7) Sales Return
(8) Purchase Return

Tally Screen Divided into Five Components:


(1) Title bar
(2) Gateway of Tally
(3) Calculator
(4) Button Toolbar
(5) Minimize Button

Shortcut Keys:
Gateway of Tally to Company Info  Alt +f3

Enter  To accept information typed into a field.

Company Info to Gateway of Tally  Esc

Gateway of Tally to Calculator  Ctrl + n

Calculator to Gateway of Tally  Ctrl + m

Shut Company  Alt + f1

Select Company  f1
Close Tally  Esc

Accept  Ctrl + a

Ctrl+Q  It quits the screen without making any


Changed to it

Alt+d  to delete

Ctrl+Enter  To alter a master while making an


entry or viewing report.

F2  Date

Alt+F2  Change period

F11  features Company

F12 Configuration

Ctrl+V  Voucher mode(Cr. Dr) or Invoice


mode(name of item, rate, quantity, and amount)
Groups:
It is full of Collection of ledgers.

Ex: (bank account, capital account, cash in hand,


current asset, direct expenses, indirect expenses,
investment, sales account)

Ledger:
Creating the Name of expenses and losses.

LEDGER NAME GROUP(UNDER)


Person or company name Sundry debtor or sundry
creditor
1.customer name
Sundry debtor
2.supplier name
Sundry creditor or
foreign supplier

Bank name Bank account


Asset name Fixed asset
(ex: building and
machinery, furniture
items)
Expenses name Direct expenses or
(salary, rent, wages, ) indirect expenses
Direct expenses: These are the
expenses which are directly related to
manufacturing of goods.
(wages, factory rent, heating, lighting
etc.,)

Indirect expenses: These are the


expenses which are indirectly to
manufacturing of goods.
(salary, rent, stationary, advertisement,
printing)

Income name Direct income or indirect


(ex: interest received, income
commission received
ext.,)

Sales and tax related Sales account, taxable


names sales, Duties and taxes,
(ex:12% GST) short and full form of tax
(ex: GST, Goods and service tax)
Purchase related names Purchase account
capital Capital account
Voucher:
Contra (f4)
It is used for creating all bank deposits &
withdrawals voucher.
Example: Bank Deposit, Withdrew, Petty cash.

Payment (f5)
It is used for creating all payments made through
cash (or) cheque.
Example: Expenses, Fixed Assets, Purchase,
Payment to Creditors.

Receipt (f6)
It is used for creating all received made through
cash (or) Cheque.
Example: Incomes, Received from Debtors, Fixed
assets, Sales, Received Capital.

Journal (f7)
It is used for Adjustments.
Example: Sales Return, Purchase Return,
Depreciation.
Sales (f8)
It is used for creating the sales bill.
Example: Sales of goods.

Purchase (f9)
It is used for creating the purchase bill.
Example: Purchase of goods.

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