Tally ERP 9 Accounting Information & Functions

1. What is Accounting
2. Golden rules of recording
transactions
3. Accounting process at a glance
4. Introduction of Tally
5. Features of Tally
6. How to start Tally
7. Gateway of Tally
8. Short cut keys
9. Advantages of Tally

WHAT IS ACCOUNTING
WHAT IS ACCOUNTING
Accounting is an art of systematic
recording, classifying, summarizing
in a significant manner and in terms
of money, transactions and events
which are, in part at least, of
financial character, and interpreting
the results thereof.

GOLDEN RULES FOR RECORDING
GOLDEN RULES FOR RECORDING
TRANSACTIONS
TRANSACTIONS
 Personal Account:
Debit the Receiver
Credit the Giver
 Real Account:
Debit what comes in
Credit
what goes out
 Revenue or Nominal Account:
Debit all Expenses
Credit all Incomes

ACCOUNTING PROCESS AT A GLANCE
ACCOUNTING PROCESS AT A GLANCE
TRANSACTION VOUCHER JOURNAL
ENTRY
LEDGER ACCOUNTS
TRIAL BALANCE
PROFIT AND LOSSS A/C BALANCE SHEET
RECORDING CLASSIFYING
POSTING
CONSOLIDATING
FINAL ACCOUNTS

INTRODUCTION OF TALLY
INTRODUCTION OF TALLY
TALLY IS A VERSATILE ACCOUNTING
PACKAGE USED FOR ENTERING
ACCOUNTING TRANSACTIONS AND ALSO A
BEST ON WINDOWING INTERFACE. A
LITTLE BAR DISPLAYS THE NAME OF
APPLICATIONS.

FEATURES OF TALLY
User Friendly Interface
Flexible
Real Time
Helps In Decision Making
Import And Export
Fast In Processing
Mode of data exchange through
extensible markup Language (XML)

How to Start Tally ?
How to Start Tally ?
• An icon as can
be found at the
destination directory or
as shortcut on desktop.
Double click the icon to
run the package. The
first screen displayed is
shown

GATEWAY OF TALLY
GATEWAY OF TALLY
Gateway of tally is the menu that appears
on selection of the company. The gateway
of tally menu differs based on the type of
company selected, that is, Accounts
Only Company has a different Gateway
of tally menu from that of an Accounts-
With- Inventory Company.

Company Information
Company Information
The Company Information screen has
five option –
1. Select Company to select an
existing company from the list of
companies already created. This
option is deselected the first time tally
is run.
2. Create Company is to create a new
one.
3. Backup is meant to take a back up of
the stored data into a backup device.
4. The option Restore is to extract
information from the backup device
to the data directory.
5. The last option Quit is to exit from
tally. It will pose you a question
whether we want to quit or not. Select
a choice. For now we no to continue
with tally.

CREATION OF COMPANY
CREATION OF COMPANY
A company is a file where all transactions and
information relating to a particular company are
entered . A company may be a partnership, Sole
proprietorship, joint stock or any other company. It
is created by using Alt+F3 key . It displays a box with
hot key ‘C’, to Create company . Both keyboard as
well as mouse can be used in tally . And thus after
entering all information a company is created .
GATEWAY OF
TALLY
COMPANY INFO CREATE
In order to create group we should follow these steps:

CREATING A COMPANY
CREATING A COMPANY

CREATION OF GROUPS
CREATION OF GROUPS
Accounts Info.
Groups
All financial entries are performed using ledgers.
Tally gives you great flexibility to setup chart of
account. Groups in tally, classify the account
under different heads so that summarize
information is possible.
In order to create group we should follow these
steps:
Gateway of
tally

Once you select Group option, you will see a part of a screen like this.
CREATING SINGLE GROUP
CREATING SINGLE GROUP

Under single group option is useful when you wish to work on one
group at a time.
If you create single group then you will see of a screen like this.

CREATING MULTIPLE GROUP
CREATING MULTIPLE GROUP
The subgroup will automatically adopt the feature of there parents group including those
specified in advance mode. If there are any changes for an individual group you have to
select the single group option.
If you create multiple group then you will see of a screen like this.

LEDGER
During voucher entry only ledger
accounts are used. Groups are helpful to
get summarized information only. You
may use the reserved group for grouping
your ledger account.
Gateway of
tally
Accounts
Info.
Ledgers

CREATE SINGLE LEDGER
CREATE SINGLE LEDGER
Once you select Ledger
option, you will see a
part of a screen like
this.

Under Single Ledger Creation we get many option
like and select specified group.
Name : Specify the
name of the ledger name.
Under : Specify the
group under which the
ledger is to be created.
Maintain Bill wise
detail : Once you type
the opening balance you
will receive a sub screen
asking for bill wise detail.
If you have opted to
maintain balance on bill
by bill basis.

CREATE MULTIPLE LEDGER
CREATE MULTIPLE LEDGER
You can create a ledger under each group in single mode and
then rest of the ledger for the same group is multiple mode.
Tally set the setting of that ledgers as default for other ledgers
you are creating in multiple mode.
For Example: We create Furniture ledger under Fixed Assets
like this

VOUCHER
VOUCHER
A voucher is a primary document for
recording all financial transactions .
Recoding and analysis are easy for
different types of transaction because tally
provides 16 different predefined vouchers
formats. Some vouchers can be used
differently according to the situation.
Example sales voucher can be used as
invoices. These predefined vouchers fulfill
your normal transaction needs.

TYPES PURPOSE ACCOUNT AMT. AMT
.
Contra Records fund
transfers between
cash & bank
Cash
Bank
(for withdrawals)
Dr.
Cr.
Payment Records all bank &
cash payments
Ledger A/c paid
Bank or Cash
Dr.
Cr.
Receipts Records all bank &
cash receipts
Bank or Cash ledger a/c
Received
Dr.
Cr.
Journal Records adjustment
between ledgers
(Particulars) Dr.
Cr.
Sales Records all sales Buyer A/c
Sales A/c
Dr.
Cr.
Purchase Records all purchase Purchase A/c
Supplier A/c
Dr.
Cr.
VOUCHER TYPES
VOUCHER TYPES

CREATE VOUCHER
CREATE VOUCHER
 Specify the name of the
voucher.
 Choose the type you can
select any one of the predefined
voucher types available in tally.
 Numbering could be
automatic or manual or none.
 If you have opted for a
common narration, tally will
prompt for a narration entry at
the bottom of voucher entry
screen.
 Effective dates for vouchers

Keys function
• F1 to select a company
• F2 to change the menu period
• F4 to select the contra voucher
• F5 to select the payment voucher
• F6 to select the receipt voucher
• F7 to select the journal voucher
• F8 to select the sales voucher
• F9 to select the purchase voucher
• F11 to select the function & features screen
• F12 to select the configure screen
• Alt +2 to duplicate a voucher
• Alt +A to add a voucher
P.T.O.
SHORT CUT KEYS

• Alt +C to create a new ledger
• Alt +D to delete a voucher
• Alt +F1 to choose a company
• Alt +F2 to change the accounting period
• Alt +F3 to select the company information
• Ctrl +A to save the voucher entry
• Ctrl +C to create a company
• Ctrl +Q to exit of tally
• Ctrl +N to opening calculator
• Ctrl +Alt +R to rewrite data for a company

TALLY IS A VERY USEFUL ACCOUNTING SOFTWARE, ITS
BENEFITS CAN BE EXPLAINED AS UNDER:-
 USER FRIENDLY
 RELIABLE
 AUTOMATIC REPORTS ARE PREPARED
 NO NEED TO GIVE HECTIC COMMANDS
 PROVIDES RETURNS & DECLARATIONS
 ACCOUNTING WITH INVENTORY MANAGEMENT
 SECURITY MEASURES
 SAVES TIME
 AVOID CUMBERSOME PAPER WORK
 INBUILT FACILITIES
ADVANTAGE

Tally ERP 9 Accounting Information & Functions

Tally ERP 9 Accounting Information & Functions

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Tally ERP 9 Accounting Information & Functions