Reading Material for Workshop on Computerized Accounting

To create a company in Tally, follow these steps:

1. Open Tally and go to the Gateway of Tally.

2. Select "Create Company" from the menu or press Alt+F3.
3. Enter the name of the company and select the appropriate country.
4. Choose the financial year from the list of available years.
5. Enter the address and other details of the company.
6. Set the base currency of the company.
7. Select the option to enable or disable the inventory management.
8. Set the taxation details of the company, such as GST or VAT.
9. Set the default ledger accounts for the company.
10. Review the information entered and make changes if necessary.
11. Save the company information by pressing Ctrl+A or selecting "Accept" from
the menu.

Your company has now been created in Tally, and you can start using it to manage
your financial transactions.

To create a ledger in Tally, you can follow these steps:

1. Open Tally and select the company for which you want to create the ledger.
2. Go to the main menu and click on "Accounts Info".
3. Select "Ledgers" from the submenu.
4. Click on "Create" to create a new ledger or select an existing ledger to modify
it.
5. Enter the name of the ledger in the "Name" field.
6. Select the appropriate ledger group from the "Under" field.
7. Choose the ledger type from the "Type of Ledger" field (e.g. sales, purchase,
bank account, etc.).
8. Enter any additional information in the relevant fields, such as address,
contact details, etc.
9. Save the ledger by clicking on "Accept" or pressing "Ctrl+A".

You can repeat this process to create as many ledgers as you need for your
business. It is important to ensure that the ledgers are accurately categorized and
that all the necessary information is entered, as this will help ensure that your
accounts are correctly maintained.

To create stock items in Tally, you can follow these steps:

1. Open Tally and select the company for which you want to create a stock item.
2. Go to the Gateway of Tally and select "Inventory Info" from the main menu.
3. Select "Stock Items" and click on "Create" to add a new item.
 4. Enter the Name of the stock item.
5. Under "Inventory Info" section, select the Group in which you want to create
the item.
6. Set the Units of Measurement for the stock item.
7. Enter the Opening Balance if any.
8. Set the "Reorder Level" and "Minimum Order Level" for the item.
9. Set the "Standard Cost" and "Default Purchase Price" for the item.
10. Save the stock item by pressing "Ctrl + A" or by clicking on the "Accept"
button.

Once you have created the stock item, you can use it for various inventory
transactions such as purchase, sales, and stock transfer.

To change the period in Tally, you can follow these steps:

1. Open Tally and select the company for which you want to change the period.
2. Go to the Gateway of Tally screen.
3. Press F2 or click on the 'Period' button located at the top right corner of the
screen.
4. Enter the new period range for which you want to view the reports. For
example, if you want to view reports for the month of March 2023, you can
enter 01/03/2023 to 31/03/2023.
5. Press Enter to save the changes.
6. Tally will now display the reports for the new period range.

Note: If you want to change the period for all companies in Tally, you can go to 'F12:
Configure' and select 'Accts/Inventory Info' and then 'Company Operation Modes'.
Here you can change the date range for all companies.

To create vouchers in Tally, you can follow these steps:

1. Open Tally software and select the company for which you want to create the
voucher.
2. Go to the gateway of Tally and select the option "Accounting Vouchers" from
the "Vouchers" section.
3. Select the type of voucher you want to create, for example, if you want to
create a payment voucher, select "Payment Voucher" from the list.
4. Enter the voucher details like the date, party name, and the amount to be
paid.
5. If required, you can also add more details like narration, bank details, and
reference numbers.
6. Save the voucher by pressing the "Ctrl+A" key combination or by clicking on
the "Accept" button.
7. Once the voucher is saved, you can print or export it to PDF or Excel format.
Note: To create different types of vouchers like receipt, contra, journal, and others,
you can follow similar steps but select the appropriate voucher type.

In Tally, vouchers are records of accounting transactions that are used to update the
books of accounts. There are different types of vouchers in Tally which are used for
different types of transactions. Here are some of the most common vouchers in
Tally:

1. Payment Voucher: This voucher is used to record payments made by the

company. It is used to record all types of payments such as cash, cheques,
electronic transfers, etc.
2. Receipt Voucher: This voucher is used to record all receipts of money by the
company. It is used to record all types of receipts such as cash, cheques,
electronic transfers, etc.
3. Journal Voucher: This voucher is used to record all non-cash transactions
such as adjustments, provisions, depreciation, etc. It is used to record
transactions that do not involve any payment or receipt of money.
4. Sales Voucher: This voucher is used to record sales made by the company. It
is used to record all types of sales such as cash sales, credit sales, etc.
5. Purchase Voucher: This voucher is used to record purchases made by the
company. It is used to record all types of purchases such as cash purchases,
credit purchases, etc.
6. Contra Voucher: This voucher is used to record all transactions that involve
both cash and bank accounts. It is used to record transactions such as
deposits, withdrawals, transfers, etc.
7. Debit Note Voucher: This voucher is used to record transactions where the
company has to debit an account due to an error or omission. It is used to
record transactions such as goods returned, rate difference, etc.
8. Credit Note Voucher: This voucher is used to record transactions where the
company has to credit an account due to an error or omission. It is used to
record transactions such as goods returned, rate difference, etc.

Overall, these vouchers are used in Tally to record different types of transactions
and maintain accurate and up-to-date books of accounts.
To prepare a profit and loss account in Tally, you need to follow these steps:

Step 1: Create a Company in Tally

Open Tally and create a new company or select an existing company by going to "Gateway
of Tally."
Step 2: Enable Financial Features

Go to "Gateway of Tally" and click on "F11: Features" or press F11.

Enable the option "Enable Goods and Services Tax (GST)."
Set the option "Maintain Cost Centers" to "Yes" if you want to allocate expenses to different
cost centers.
Step 3: Create Ledgers

Go to "Gateway of Tally" and click on "Accounts Info."

Select "Ledgers" and create all the required ledgers for your income and expense accounts.
Create a ledger for sales income (e.g., Sales Account).
Create ledgers for different expense categories (e.g., Rent, Salaries, Utilities).
Create a ledger for indirect income (e.g., Interest Income).
Create a ledger for indirect expenses (e.g., Bank Charges).
Step 4: Create Groups

Go to "Gateway of Tally" and click on "Accounts Info."

Select "Groups" and create groups for different income and expense categories.
Create a group for income accounts (e.g., Income).
Create a group for expense accounts (e.g., Expenses).
Create a group for indirect income (e.g., Indirect Income).
Create a group for indirect expenses (e.g., Indirect Expenses).
Step 5: Configure Profit and Loss Account

Go to "Gateway of Tally" and click on "Accounts Info."

Select "Profit and Loss A/c" and set up the required settings.
Choose the appropriate group for income and expense accounts.
Enable cost centers if applicable.
Step 6: Enter Transactions

Go to "Gateway of Tally" and click on "Accounting Vouchers."

Enter the sales, purchase, and expense transactions by selecting the appropriate voucher types
(e.g., sales voucher, purchase voucher, payment voucher).
Allocate expenses to cost centers if applicable.
Step 7: Generate Profit and Loss Statement
Go to "Gateway of Tally" and click on "Display."
Select "Profit and Loss A/c" to view the profit and loss statement.
Tally will automatically calculate the net profit or loss based on the transactions entered in
the system.

To prepare a balance sheet in Tally, you can follow these steps:

Open Tally and select the company for which you want to prepare the balance sheet.

Ensure that you have entered all the financial transactions correctly in Tally. This includes
recording sales, purchases, expenses, and other relevant transactions.

Go to the "Gateway of Tally" and navigate to "Display" > "Financial Statements" > "Balance
Sheet."

Select the appropriate financial year and the reporting period for which you want to generate
the balance sheet.

Tally will generate the balance sheet based on the transactions entered. The balance sheet
consists of two sides: assets on the left and liabilities and equity on the right.

Review the balance sheet and ensure that all the accounts are correctly categorized and
classified.

Customize the balance sheet format if required. Tally provides options to modify the
presentation of the balance sheet according to your preferences.

Once you are satisfied with the balance sheet, you can print or export it in the desired format.
Enterprise Resource Planning (ERP) systems are comprehensive software applications
designed to manage and integrate core business processes across various departments and
functions within an organization. Here are brief descriptions of some popular ERP systems
used in business:

SAP ERP: SAP is one of the leading ERP providers, offering a wide range of solutions
tailored to different industries and business sizes. SAP ERP covers various modules such as
finance, supply chain, human resources, and customer relationship management.

Oracle ERP Cloud: Oracle offers a cloud-based ERP system that combines financial
management, procurement, project management, and other modules. It provides scalability,
flexibility, and real-time analytics for effective decision-making.

Microsoft Dynamics 365: Microsoft's ERP solution integrates various business functions,
including finance, sales, customer service, and operations. It allows organizations to connect
with customers, optimize operations, and make data-driven decisions.

NetSuite ERP: NetSuite, a cloud-based ERP system acquired by Oracle, offers a suite of
applications for financial management, inventory control, order management, and other
business functions. It caters to diverse industries and provides scalability for growing
businesses.

Infor ERP: Infor provides industry-specific ERP solutions designed for sectors such as
manufacturing, distribution, healthcare, and hospitality. Its ERP systems cover areas like
finance, supply chain management, enterprise asset management, and human capital
management.

Epicor ERP: Epicor offers ERP software designed for manufacturers, distributors, and
retailers. Its solutions encompass inventory management, production planning, customer
relationship management, and other functionalities.

Sage ERP: Sage provides ERP systems for small and medium-sized businesses, offering
modules for finance, inventory management, project management, and customer relationship
management. Its solutions are known for ease of use and affordability.

These are just a few examples of ERP systems available in the market. Each system has its
strengths and focuses on specific industries or business sizes. The choice of ERP system
depends on an organization's requirements, budget, scalability needs, and industry-specific
functionality.