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Tally Basic (English)

 

What is Tally 

Tally is an accounting software used to record and keep the financial transactions of a company, trust or financial transaction institution from computer. So that the financial status of the business will be known.

1.       1. Knowledge of capital: –

2.       2.Knowledge of buying and selling

3.       3.Knowledge of debtors and creditors

4.       4.Knowledge of the financial position of the business

5.       5.Profit and loss knowledge

Version of Tally

1.       Tally 3.0 (1990) – Tally 3.0 is the first version of Tally. Which has been used for basic accounting requirements of small businesses. it only supports Microsoft DOS.

2.       Tally 3.12 (1991)

3.       Tally 4 (1992)

4.       Tally 4.5 (1994)

5.       Tally 5.4 (1996)

6.       Tally 6.3 (2001)

7.       Tally 7.2 (2005)

8.       Tally 8.1 (2006)

9.       Tally 9 (2006)

Definition of Accounting

Accounting is the process by which financial transactions have to be identified, entered and processed by preparing a report. By which the financial position of the business can be known, it is called accounting.

 

Business:

The legal work done for the purpose of making profit is called business. Business is a broad term under which business, Production work, Sale or purchase of goods or services, Bank, Insurance, Transport companies come under it.

Types of Business

1.Manufacturing (production)

2.Trading (Sales)

3.Servicing (Service)

Trade (Business)              The sale and purchase of goods done for the purpose of making a profit is called trade.

 

Proprietor (Owner or Owner):

The person starting the business, who arranges for the necessary capital and carries the risk of loss and loss of the officer to receive the profit., The owner of the business is called.

 

Capital:

Money to start a business by the owner of the business, It is imposed as cash or other property, it is called capital.

Drawing (Withdrawal)

Goods or cash which are taken out by the owner of the business for personal use of the business, This is called withdrawal or personal expenditure. Withdrawal reduces the amount of capital.

Transaction (Transaction or transaction)

Double sided currency, Mutual exchange of goods or cash.

Types of Transaction
1. Cash Transaction (Cash transaction)
2. Credit Transaction (Credit or credit transaction)
3. Bill Transaction (Bill transaction)

Goods

The goods are called that thing, Which is traded – traded or traded. Raw material obtained for the manufacture of goods under goods, Can be semi-finished material or finished goods

Purchase:

When goods are purchased for sale by the merchant, It is called purchasing. It can be purchased in the form of raw material or finished goods.

Purchase Return:

Goods that are returned due to any of the purchased goods.

Sales:

When the purchased goods are sold for the purpose of profit, it is called selling.

Sales Return :

Any goods sold are returned by the customer due to any reason. Sales return On entry, it is entered into a journal voucher or debit note.

Stock

After a certain period of time, It is called a stock, on the last day of a business year, which remains unsold, Assets

Assets:

All such permanent and temporary items of business which are necessary to run the business and which are owned by the businessman, The assets are called. Like – machine, land, Furniture, The printer, Computer etc.

 

Types of Assets  

1. Fixed Assets: Permanent Property : Equipment, used for personal, Furniture, The printer, Custom etc.

2. Current Assets :  Movable property (cash) – cash. Bank cash etc.

Liabilities :

The liability of the business is called liability. There are some essential states in the business., Those who have the obligation to repay the business like – Capital, Bill of credit, Creditor, Bank overdraft etc.

Revenue :

Revenue refers to the amount received regularly from the sale of goods or services. Business day-to-day activities like rent – rent, Interest, The commission, Discount, Dividends etc. are also called revenue.

Expenses

Goods in business, Costs incurred for producing or acquiring goods and services. Payments for receipt of goods and services are covered under expenditure. wage, The freight, Salary paid on delivery and sale of railway carriages and goods, The rent, advertisement, the expense, Insurance is also included in the expenditure. The cost of increasing the revenue in brief is called expenditure.

Types of Expenses

1. Direct Expenses :

Payment for receipt of goods and services – Wages, Freight, Payment on delivery and sale of railway carriages and goods

2. Indirect Expenses

Increase revenue, the wages, the rent, advertisement, the expense, Insurance etc. Expenditure (Spend): – Spend is the amount paid to increase the profit-earning capacity of the business. Expenses that are paid for the acquisition or acquisition of assets in a business are called expenses.

 

Gain (Benefit)

This Is a kind of monetary gain, Which results from business like if 1,00,000 Goods worth Rs. 1,50,000 If sold in rupees 50,000 Receipt of money will be called profit.

Cost

Raw materials used in business and its functions, Service and loan, The sum of all direct and indirect expenses to be produced or used to make it useful is called cost of goods. The item includes the raw material or assets.

Discount (Deduction or Discount)

Concession granted to the concession given by the merchant to his customers, It is called discount. It is also called a gift. There are two types of discount –

1.  Trade Discount (Merchant discount) :  The seller makes a discount (discounted) to his customers in the face value, ie the list price, while purchasing the goods., It is called a trade discount with the aim of increasing the sale of goods. It is not done in the accounting books

2. Cash discount : – Exemption provided for payment of cash or check value in a fixed or fixed period, It is called cash discount, it is used in books of accounts.

Debitor (Debtor )

The person, Borrow goods or services from a firm or institution, It is called the debtor or debtor of the business.

Creditor

The person, Goods or services are borrowed from a firm or institution, it is called a creditor.

 

Entry

Entering the transaction in the books of account is called Entry.

Whole sale (Turn Over)

The sum of the cash and credit sales that occur in a certain sum is the total sales or Turn over

Bad Debts

Unable to recover the amount due to the inability of the debtor or going bankrupt, For a creditor, it is called bad debt or unapproachable loan.

How to Create Company

Tally To work in User mainly 4 To do work –

1.       Company Creation (Company making)

2.       Ledger Creation

3.       Inventory Management (stock management)

4.       Voucher Entry

 

Company Creation

Follow the following steps to create a company in a tally –

1. Go to company info menu
2. Create Company Select the option of

3. Shortcut key Alt + F1 or shortcut key Alt + F3 By going to create Company Choose Option.

As soon as we choose this option company creation Of window Will open in which fill the information sought and Ctrl + A button Press and save.

Details to be filled in company creation window

Fill Basic Data

Directory : This field is already full, this field contains the path of the tally , Where Tally Software Load.

Name : Enter that name in this field , Name by which you want to create a company.

Mailing Name :  Enter the company’s mailing name in this field

State :  In this field, enter the state in which your business is established.

Pin code : Enter the pin code of the place in this field , Where the companies are established

Telephone Number : Enter the company’s telephone number in this field.

E-mail Address : Enter the company’s email address in this field.

Website : Enter the company website in this field

Financial Year From – Enter the starting date of the financial year

Books Beginning From – Enter the dates of opening of books of accounts in this field.

Security control : If you want to activate security on the company entering the user name and password.

 

What is voucher

Voucher is a type of written statement detailing all Financial or Non-Financial transactions. voucher is an important part of the business, it uses Voucher in all types of business.

Types of Voucher –

1.       Accounting Voucher

2.       Inventory Voucher

Accounting voucher

Accounting voucher is the voucher in which the book is maintained according to financial transactions .

Types of Accounting Vouchers

Contra Voucher (F4)	Payment Vouchers(F5)	Receipt Voucher (F6)
Journal Vouchers (F7)	Sales Vouchers (F8)	Credit Note Voucher (Ctrl + F8)
Purchase Vouchers (F9)	Memo Voucher (Ctrl + F10)	Debit Note Voucher ( Ctrl + F9)

Inventory Voucher

The way Accounting Voucher work in Accounting System. Similarly, inventory is in vouchers, it Record of goods received or sent.

1.       Press F11 Feature button.

2.       Press the F2 button or select the inverntory features.

3.       Integrate Accounts and Inventory – Yes.

4.       Enable Purchase Order Procesing – Yes.

5.       Enable Sales Order Processsing – Yes.

6.       Use Rejection inward and outward notes – Yes.

7.       Use Material in and out Vouchers – Yes.

8.       Thus, after all the setting, save the ctrl + A button by press. You’ll inverntory Voucher activate after save.

Types of Inventory Voucher

Receipt Note (Alt + F9)

Delivery Note (Alt+F8)

Rejection Out (Alt+F6)

Rejection In (ctrl+F6)

Stock Journal (Alt+F7)

Physical Stock (Alt + F10)

Sales Order (Alt+F5)

Purchase Order (Alt+F4)

 

Receipt Note Voucher

It is a inventory voucher through which we can use order given goods/goods for purchase. receipt note is Entry when Goods is received. entry in Receipt Note, our stock begins to appear. Receipt Note Voucher has a shortcut key Alt + F9.

Delivery Note Voucher

It is a inventory voucher through which we receive order for Sales on goods/goods. the Delivery Note Voucher is Entry after sending the Goods. Our stock decreases as soon as we entry in the Delivery Note Voucher. Delivery Note Voucher has a shortcut key Alt + F8.

 

Rejection Out Voucher

It is a inventory voucher through which we purchase the goods given order/goods. When Goods is received, the item is returned from some item damage or any other reason. Then entry is done in Rejection Out Voucher. As soon as we entry in the Rejection Out Voucher, our item of the stock begins to decrease. Rejection Out Voucher has a shortcut key Alt + F6.

 

Rejection In Voucher

It is a Inventory Voucher through which we have received order for Sales/goods. When Goods is deliver, it comes back to item from some item damage or any other reason. Then entry is done in Rejection In Voucher. As soon as we entry in the Rejection in Voucher, our item of stock begins to look more visible. Rejection in Voucher has a shortcut key Alt + F7.

Stock Journal Voucher

It is a inventory voucher through which we transfer stock from one godown to another godown stock.

For example – we have a godown, the first home godown and the second office godown in which we keep stock.

Stock Journal Voucher is also used for Manufacturing process in which Raw Material is transfer in Finished Goods.

Physical Stock Voucher

Physical Stock Voucher is used to record the actual stock, which can be Verify or Count. When we don’t match stock and physical stock written in our books, we difference stock entry we do it in Physical Stock Voucher.

 

Sales Order Voucher

It is a inventory voucher through which we can use goods/goods for Sales. Goods order, which we Entry in Sales Order Voucher. entry in Sales Order Voucher does not make any difference in stock. the stock is reduced only when Sales Order is entry in Delivery Note Voucher. Sales Order Voucher has a shortcut key Alt + F5.

 

Purchase Order Voucher

It is a inventory voucher through which we purchase goods/goods for the purchase. Goods order, which we Entry in Purchase Order Voucher. entry in Purchase Order Voucher does not appear in stock. Purchase Order stock add only when entry in Receipt Note Voucher. Purchase Order Voucher has a shortcut key Alt + F4.

Ledger Under Group

Ledger	Ledger Under Group
Capital A/c	Capital Account
SBI Bank	Bank Account
Furniture A/C	Fixed Account
Purchase A/c	Purchase Account
SGST	Duties & Taxes
CGST	Duties & Taxes
IGST	Duties & Taxes
Shri Cloth Store Raipur	Sundry Creditor
Electricity Bill A/c	Indirect Expenses
Food & Snacks	Indirect Expenses
Telephone Bill A/c	Indirect Expenses
Bank Interest Received A/c	Indirect Income
Rent	Indirect Expenses
Trisha Cloth Cneter	Sundry Debitor
Sales	Sales
Wages A/c	Direct Expenses
Purchase Return A/c	Purchase Account
Petty Cash A/c	Cash Account
Sales Return	Sales
Cash Discount Received A/c	Indirect Income
Cloth Damage	Indirect Expenses
Computer System A/C	Fixed Assets