Tally Solutions

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Tally Solutions Ltd is a Bangalore-based financial accounting software company that

currently sells into 88 countries beyond its native India, including the United Kingdom,
Bangladesh and the Middle East.

Tally's software is mainly used for vouchers, financial statements, and taxation in many
industries, and has specialised packages for retail businesses. More advanced capabilities
are found in its ERP package.

[edit] History
The business was set up in 1986 by S S Goenka, who founded a small company called
Peutronics Pvt. Ltd. with the aim of using computers to simplify the tedious job of
keeping accounts.[1] His son Bharat was responsible for the development of the
commercial software product which led to Peutronics Pvt. Ltd., becoming Tally
Solutions.[2] Tally Solutions now operates from its offices on the Hosur Road, a business
district of the Silicon Valley of India that houses many software companies.

[edit] References

Learn more about Tally 9

The Tally 9 Advantage

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:

• Expand your business - with the concurrent multi-lingual capability and multi-
currency features that allow you to transact beyond geographical boundaries, without
language barriers.

• No need to hire specialised resources – since Tally 9 is very simple to learn and
the easy interface enables you to navigate the software without difficulty.

• Blazing Speed - provides you with the information you want - FAST.

• Unmatched Scaleability –Tally 9 adapts to the current and future needs of your
business, irrespective of its size or style.

• Sheer Power – Tally 9 has the ability to handle huge volumes of transactions
without compromising on speed or efficiency.

• Real-time access to information – enables quick decision through fast and easy
sharing of data from Tally.

• Better cash flow and savings on interest - by using the ‘receivables and
payables’ management feature, to help you ensure on-time collections and generate
reminder letters.

• Amazing Accuracy – Tally 9 provides user-definable templates for fast, accurate

data entry.

• Manage your future dealings with bad debtors and persistent defaulters -
using the payment performance of debtors feature, to identify them.

• Faster and error-free invoicing and data entry – using the multiple price levels
feature to pre-define item rates for specific categories of customers.

• Identify products with high or low margins - with the profitability analysis
feature, that provides you with product-wise and invoice-wise profitability.

• Avoid stocking excess items and ensure that you don’t run out of essential
stock - by using the reorder feature, to set reorder levels for any given period.

• Better planning and dramatic improvement in co-ordination of your

operations with reduced paperwork – as a result of using the integration across
functions feature.

• Reduce costs and increase productivity – using features such as inventory

management, receivables and payables management etc.

• Accurate information tracking, quicker data entry and retrieval - thanks to

the integrated system that ensures real-time linking of accounts and inventory.

• Get a better understanding and analysis of performance levels for various

periods and divisions - with the advanced MIS feature.

• Enjoy better planning and forecasting – using sophisticated analytical tools that
help you forecast and examine possible scenarios, and give you the ability to view
provisional reports.

• Save time and reduce paperwork - by automating your Payroll process with the
Payroll Feature in Tally 9
Learn more about Tally 9

Tally Basic Financial Management

Multiple Companies

Tally provides its users the facility for creating and main
companies. Hence the user can maintain all his compani
well as his own Personal accounts in Tally. The Tally use
companies concurrently i.e. the user can load more than
simultaneously work on all or any of the companies load
companies as and when required. Tally also allows users
hence provides a consolidated report for the companies

How to create multiple companies? To create a Company

(in company info menu) -> now, Specify Company Name
Once one company is created, to create a new company
Now the user will be able to create another company (fo
Once, the user has created more than one company he c
of the companies that is created.

Multi Currency

Tally maintains books of accounts in base currency. Tally

transactions in multiple currencies and view reports in an
have been created in Tally. The user can thus invoice his
currency as well receive payments in their currency. If th
loss, then it reflects the same immediately in the concer
The gain or loss hence derived can be transferred to a fo
Journal (use voucher class). The user can also view and
the currency the transaction has been entered. Tally also
print all reports in any currencies.

Procedure:

Press Alt+C -> select currency -> specify 'Rate of Excha

Procedure to use Multi Currency:

-> Click on features (F11) -> activate Multi Currency ->

Currencies -> Create -> specify Currency symbol and ot
select 'Rate of Exchange' -> specify rate (selling and buy
date. Now you can enter a transaction in any currency.

Lets illustrate this further with an example

Lets assume a sale is made to a Party in U.S. on 1st of A

US$ (selling rate S$ 2 / US$). The receipt for the same s
April @ S$2.5 / US$ (selling rate S$ 2.5 / US$ on 2nd Ap
gain of S$ 50 (base currency), which is displayed in Part
be transferred to a forex Gain / Loss A/c using a journal
journal).

Multiple Financial Year

Tally allows the user to have any number of financial yea

At the time of creating the company it is only necessary
of the financial year. There after the user is free to main
number of periods e.g. lets assume the user has created
1st of April 2001. Now if he needs to change to the next
select Period (F2), from Gateway of Tally) and specify th
31-3-2002 and he can continue with the transactions for
Once the user has information for multiple years in a sin
shift between different financial periods by selecting 'Per
can view reports for a period which could span multiple f
user can view a report which could consist transactions f
previous financial year and first half the current financial

Comparison of Data Using Multi-Columanar Report

Tally allows the facility for comparing information / repor

columnar reporting facility. The user can view / compare
periods (year, month, qtr or user defined period), curren
company as well a compare information for two or more
screen instead of toggling between different periods / co
easy comparison of information will help the managemen
and will help bring out any exceptions very easily.

Option 1

->Select any report (e.g. Balance Sheet) -> select 'auto

select any option (company, yrs, month, qtrly etc) and p
displays comparisons based on the option selected

Option 2

-> Select any report (e.g. Balance Sheet) -> select any
'new column' (Alt + C) ->select company to be compare
to compare bet'n companies -> specify period.

Memo Vouchers

This is a non-accounting voucher and the entries made u

accounts. That is, Tally does not post these entries to led
separate register. You can alter and convert a Memo vou
voucher when you decide to bring the entry into your bo
used when the user has to make Suspense Payments or
transaction for which the user does not have complete in
Memo Voucher, select 'Voucher Entry' then press F10 (m
complete the transaction. Memo vouchers can be effectiv
included in Scenarios. Entries made through Memo vouc
Scenario management and scenario reports can be viewe
memo vouchers.

To view a report of all Memo Vouchers -> Select Display

Memorandum Vouchers -> select any month (to view me
periods, click on Date (F2) and specify the date range).

Post Dated Vouchers

Tally users can use this facility for entering vouchers in a

transactions that are definite in nature. The voucher mar
not affect the books of accounts till the date specified in
extremely useful when the user has issued or received p

How to enter a Post dated Voucher?

-> select 'Voucher Entry' in 'Gateway of Tally' screen ->

Payment F5) -> press Ctrl + T (Post dated Vouchers) co
save.

How to view Post dated vouchers?

-> Select Display -> select Exception Reports -> select P

Used Defined Vouchers

Tally provides 18 predefined vouchers and also allows th

new accounting/inventory vouchers types as per his/her
further classify Payment Vouchers by creating vouchers
and Cash Payment Vouchers. The user can also set the v
his needs, which can be either automatic numbering or m
no numbering at all. Further the user can also assign Pre
numbers and numbering can restart either from beginnin

How to create a new Voucher Type?

->Select 'Accounts Info' -> select 'Voucher Type' -> sele

enter the Voucher name, specify the type of voucher, sp
numbering, activate or deactivate the other functions as

Sales and Purchase Extracts

Tally gives a facility to get an extract report of the Sales

extract report gives the user the consolidated figures of
for both debit as well as credit side. With this report the
Sales Turnover figures for any period as well as complet
return figures which help him in filing his Tax returns.

Procedure:
-> select Display -> select Accounts Books -> select Sal
particular month -> press F6 (Extracts).

Daily Balances& Transactions Value

Tally provides a facility of viewing certain reports (cash b

ledgers in daily breakup basis. The user can thus have in
transaction value for all days as well as closing balances
report the user can also get daily average details as well
the month (press F12).

Procedure:

-> select Display -> select Cash/Bank Books or Ledger -

-> select F6 (Daily Break Up). -> select F12 (Configurati
Average Details' and show 'High / Low Details' -> Tally d
the month as well as High and Low details for the month

The user can also drill down from this level to voucher le

Cash Flow

Tally provides with a cash flow statement using which th

movement of cash flow ie cash inflow as well as cash ou
included) in his business. The report also displays a net
user can also get a daily cash flow statement (F4). By se
option the user can also activate average details and hen
inflow/out flow for any period.

Procedure:

-> select Display -> select Cash / Funds Flow -> select C
daily flow).

Interest Calculations

This is one of the most powerful features available in Tal

calculates interest based on the information furnished by
creation of ledgers. The user can now view the impact of
against each ledger and in turn against each transaction
exhaustive information on interest implications, the inter
brought into books. The user now has the option to book
per his requirements. Interest is calculated on simple an
be entered into books by passing debit notes for interest
notes for interest payable.

Procedure :

-> Firstly activate interest calculation (including advance

company by pressing F11 (features). Then, activate the
for each specific ledger for which interest has to be calcu
of interest along with the interest style. The user can spe
different periods.

-> Select Ledger from 'Accounts Info' menu -> Alter ->
interest calculation has to be activated -> set interest ca
provide information regarding 'rate of interest (%)' and
-> accept the same.

Tally automatically calculates interest for ledgers for whi

activated. To view report,

-> select Display -> Statement of Accounts -> Interest C

Receivables / Payables or ledger wise.

In case the user opts to specify or change the Rate of in

entering the transaction, then he do so by activating the
parameters' in Ledger creation mode.

Percentage Based Reporting

Tally provides % based reporting on all financial stateme

Profit & Loss, Cash Flow, Sales register etc. You can acti
by pressing F12 (Configuration) in any report and then v
basis. For e.g. If the user opts to view Profit and Loss re
then all groups are shown as a % of Sales.
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Learn more about Tally 9

Tally Simple Accouting

Tally accounting software for simple accounting.

Complete Booking

Tally maintains all Books of accounts starting from records of vouchers, ledgers etc. Tally handles
different types of vouchers like Payment, receipt, adjustment entries like Journals, Debit notes,
Credit notes, Sales, Purchases, Receipt notes, Delivery notes etc. Tally follows the double entry
system of accounting and hence will eliminate any possible errors.

Books, Registers and Statement of Accounts

Tally maintains all the Primary books of accounts like Cashbook,

a) Books :
Bank Book.

b) Registers : Tally maintains all registers like Purchase Register, Sales

Register and Journal Registers.

c) Statement of : Tally maintains all statement of accounts like Balance sheet,

Accounts Profit and Loss and Trial Balance, Cash Flow, Fund Flow & Stock
Statement.

General Ledger

Tally maintains details of all ledgers that are defined by the user. You can define your chart of
accounts i.e. - maintain groups, ledger etc. Ledger reports can be used for scrutiny of accounts.
Most accounting systems across the globe follow the concept of separate Personal and Nominal
accounts. Tally follows the concept of single ledger systems, which includes both Personal and
Nominal accounts.

Credit Control (Outstanding Mangement) Including credit Limit

A Tally user can maintain 'Outstanding Reports' along with Age Wise analysis. Credit Limits can be
given 'amount wise' as well as 'period wise'. Once Credit limits are set for a Party, then the user
cannot bill the particular Party beyond the specified limit. Only the authorized user can alter the
Credit Limits. This helps to monitor as well as control any potential slow collection and warns about
the potential bad debts.

To set Credit Limits follow the procedure below :

Activate Budgets and controls by pressing F11 (Features) -> Select Accounts Info -> Select Ledger
--> Select Credit limits -> Select Group -> Define the limit for each ledger either by Value or Period
or Both.
Accounts Receivable and Accounts payable

Accounts Receivables is the amount to be received from Sundry Debtors and Accounts Payable, the
amount to be paid to Sundry Creditors. Tally provides complete bill wise information of amounts
receivable as well as payable either Party wise or Group wise. This feature can track bills,
payments/receipts including advances one-to-one.

How to use this facility?

Activate 'BillWise' details by pressing F11 (Features). Now Create a Party (Ledger A/c) under the
group 'Sundry Debtors' as well as one under group 'Sundry Creditors', and also activate 'Maintain
balances bill by bill' for all the Parties while you are in Ledger creation mode. Next, select the option
'Voucher Entry' in 'Gateway of Tally' -> Select Sales or Purchase Voucher.

Now, while entering the transaction, the user can specify a Ref. no with due date for the amount or
break it up by giving multiple ref no with different due dates.

To view the reports follow the procedure given below.

Select 'Display' (in Gateway of Tally menu) -> Select 'Statement of Accounts' -> Select
'Outstandings' -> Select 'Receivables' (in case you want to see amount due to the company) ->
Select any particular group. The report displays bill by bill outstanding for all parties along with the
pending amount as well as the due date.

In case user wants to see the amount payable by the company then select the option 'Payable'
under the menu 'Outstandings'. The user, once he has selected either Payables or Receivables can
toggle between the two reports by clicking F4 function key.

For individual Party wise outstanding:

->Select 'Ledger' option under 'Outstandings'. This report gives a bill-by-bill display of all
outstandings for the concerned party along with the total outstanding amount.

For a display of total outstandings for all parties -> select 'Group' in the menu 'Outstandings' and
then select any particular group or sub-group.
Tally gives Age wise Analysis Reports and hence keeps the user informed for the range of period the
bills have been outstanding. The user has the luxury of defining the Ageing periods as per his
needs. e.g. 0 to 30 days, 30 to 45 days, 45 to 60 and so on. The procedure for displaying the report
is given below. The aging analysis gives flexibility to do ageing by due date or bill date.

-> Select 'Ouststandings' under Display menu -> select 'Receivables ' or 'Payables' press F5 (age
wise) -> select method of ageing -> specify the periods.

Flexible Voucher Numbering

Tally provides predefined vouchers and also allows the user to define different types of vouchers as
per his/her needs. E.g. the user can further classify Payment Vouchers by creating vouchers by the
name Bank Payment and Cash Payment Vouchers. The user can also set the voucher numbering as
per his needs, which is either automatic numbering or manual numbering or have no numbering at
all. Further the user can also assign Prefix and Suffix for voucher numbers and numbering can
restart either from beginning of the year or month.

How to create a new Voucher Type?

Select 'Accounts Info' -> select 'Voucher Type' -> select 'create' option -> Now enter the Voucher
name, specify the type of voucher, specify the method of numbering, activate or deactivate the
other functions as per needs.

Flexible Classification of Accouting Heads / Chart of Accounts

Tally allows the user to define account heads as per his requirements. Tally offers 28 predefined
widely used Groups. Of these 28 predefined groups 15 groups are Primary groups and the
remaining 13 are sub groups. Among the 15 predefined groups 9 Groups are Balance Sheet items
and the remaining 6 groups are Profit and Loss items. The user is allowed to alter the nomenclature
of any of these 28 Groups. Further the user is allowed to create any number of Groups as per
his/her requirements, which can either be a Primary or a Sub-Group. Tally also allows the user to
have a multiple tree like structure groupings. This flexibility and ease of configuration allows Tally to
be used across industries and geography.

E.g. the user can have Continent wise Debtors groupings (i.e. Asia, America, Europe, Africa,
Australia) under the Group 'Sundry Debtors'. The continents can also be further bifurcated into
countries and states and so on.

Bird,s Eye View / Drill Down Display

Tally allows users to Drill Down from any report to lower levels of reports till the voucher. E.g. User
can view a Balance sheet and then select the required group in the Balance Sheet and drill down till
the vouchers. Any changes then made in the voucher (i.e. if allowed by current security levels), is
reflected real time at all levels.
Data Based reporting

Tally allows users to select any report for a particular date or for any range of dates. Once you have
selected a Report, press F2 (F2 in case of Day Book) and specify the date range (From and To). You
can also do simultaneous comparison side by side for any two selected periods including across
financial years. All reports from Tally are generated based on the transaction date rather than the
date of actual entry and hence Tally ensures that information is always represented accurately. This
unique approach to bank reconciliation allows review of past date status for auditing purpose.

Voucher and Cheque Printing

Tally provides the facility to print any voucher that has been entered. The user can print the
voucher as soon as he has entered the voucher or even later. Tally also provides cheque printing
facility. The cheque can be printed immediately after printing the voucher or can be printed later.

To activate Cheque printing option press F11 -> activate 'Set modify company features' -> enable
Cheque printing -> specify bank name (as created in Ledgers) -> Specify dimensions of Cheque.
Now while entering Payment Voucher mention the name to be printed on the cheque. Once the
voucher is saved Tally prompts the user to print cheque.

Columnar Reports

Tally provides columnar reports in Sales register, Purchase Register and Journal registers as well as
Ledgers and Cash / Bank Books.

For Columnar Reports, Select Display -> Accounts Book -> select any of the registers -> Press F5
(Columnar).

Bank Reconciliation

Tally provides the user a facility to reconcile bank accounts with his bank statement and hence
providing the user with information regarding transactions, which haven't been cleared as yet by
the bank.

For bank reconciliation follow the following procedure:

Firstly, while creating "Bank Account" Ledger, specify 'Effective date of reconciliation' (ie the date
from which the user wants to reconcile his bank accounts). Then,
Select, -> Display -> Account Books -> Bank Book -> Select the particular 'Bank' à Select month
-> Press F5 (Reconcile). Now enter the date, on which a particular transaction has been cleared.
Tally now provides information of balances as per company Books as well as per Bank.

Learn more about Tally 9

Tally Advanced Financial Management
Fund Flow

Funds Flow is a statement, which reflects the movement in working capital as well as, Flow due to operations, m
capital and acquisition and sale of fixed assets. Tally automatically tracks all the transactions entered and readi
Funds Flow Statement.

Procedure:

-> select Display -> Cash / Funds Flow -> Funds Flow -> select any month
Receivables Turnover (Payment Performance of Debtors)

Tally tracks the payment performance of all debtors and hence generates a report where-in the user can get inf
average time taken by the debtors to pay back their debts. The payment performance of debtors is calculated in

1. Using Receivables formula:

Tally calculates the payment performance of debtors using the formula which is mentioned below:

Payment performance by formula: (closing balance / total sales ) * nos of days.

2. Using actual bill clearance dates:

Tally calculates the performance of the debtors using the actual bill cleared date.

Procedure:

-> Select Ratio Analysis from 'Gateway of Tally' screen. Select 'Receivable Turnover in days'.

Branch Accounting

Tally provides a convenient method of handling Branch accounts. Each branch can handle their individual accou
any transaction or transfers between branches or offices then the user enters a transaction by debiting the othe
account and at the other branch a reverse entry is made (ie first branch is credited). When these branches are
together then there is no net effect on the books is nil. In case there is a difference it can be easily used for bra
reconciliation.

Eg.Create two branch companies, Branch A and Branch B. Now if funds are transferred from Branch A to Branch

In Branch A's accounts books, Branch B is debited and in Branch B's books, Branch A is credited.

Now when the two braches are consolidated there is no net effect on the combined books.
* Please note that the Branch accounts needs be created under the group 'Branch and Divisions'.

Flexible Period Accounting

Tally is one of the most flexible accounting packages available and this can be illustrated by the fact that Tally c
multiple periods in a single company. Once a company is created the user can specify any range of dates and o
for that range. These date range can also be across multiple financial years. I.e. the user can get a report for 1
months etc. Different countries have different financial periods. Hence if a particular company has its parent com
another nation, which has a different financial year, the user can generate a report as per financial periods of th
company. Also different years can be used such as fiscal year for taxes, any other internal way e.g. Start of new
first day of Chinese new year or calendar new year.

Procedure:

-> select any Report (e.g. Profit and Loss) -> select Period (F2) -> specify date range and save.

Consolidation of Companies

Yet another outstanding feature in Tally is its ability to handle Group companies. Tally allows the user to create
companies which could be either branch companies or sister concerns. These companies could be grouped toge
consolidated reports so as to enable the management to analyse the performance of the group company. Any c
any one of the branch companies, is automatically updated in the group company. At any point of time a new c
be included in the list of companies of a particular group. Tally also allows the user to create multiple levels of g
companies.

Procedure:

-> Create multiple companies and load those companies, which have to be grouped together -> select Compan
F3) -> select 'Create Group Company' ---> specify name of the Group Company and other information's -> sele
that are to be grouped together and save the screen. A group company is automatically created
Budgeting and Control

Tally provides a wonderful tool to the user to have a control over his business through the feature of budgets. T
hence compare the actual performance of the company with the budgeted figures and also get a Variance repor
define multiple budgets (e.g. Optimistic Budget, Realistic Budget) or even create budgets for different periods.
values can be defined for each Group as well as all Ledgers.

Procedure:

-> select Features (F11) and activate 'Budgets and Controls' -> now select Accounts Info -> select Budgets ->
-> specify name for the budget -> specify the date range for the budget -> activate Groups -> select groups A
budget value and save -> activate ledger -> select ledgers and assign budget values and save the screen.

To view Budget Reports : select any report (B/S, P/L, T/B etc) -> select new column (Alt + C) -> select period
of Budget -> activate Variance and save screen.

Cost Centers / Profit Centers With Multiple Cost Categories

Tally provides 18 predefined vouchers and also allows the user to define (create) new accounting/inventory vou
per his/her needs. E.g. the user can further classify Payment Vouchers by creating vouchers by the name Bank
Cash Payment Vouchers. The user can also set the voucher numbering as per his needs, which can be either au
numbering or manual numbering or have no numbering at all. Further the user can also assign Prefix and Suffix
numbers and numbering can restart either from beginning of the year or month.

How to create a new Voucher Type ?

->Select 'Accounts Info' -> select 'Voucher Type' -> select 'create' option -> Now enter the Voucher name, spe
voucher, specify the method of numbering, activate or deactivate the other functions as per needs.
Cost Category:

In many cases the user would like to allocate a transaction to more than one cost Centre. Tally provides a facili
Categories. This facility enables the user to allocate cost to Parallel sets of Cost Centres i.e. the same amount c
to more than one cost center. The same is explained with an example.

Create two categories one by the name Projects and another by the name Executives. Now create a Cost Centre
A under Cost Category 'Projects' and also create another Cost Centre called Salesman A under category 'Execut
enter a transaction, after specifying the amount -> select Category (Project) -> select Cost Centre (Project A) -
another Category (Executives) -> select Cost Centre (Salesman A) and complete the transaction. To view repor
Display -> select Statement of Accounts -> select Cost Catogories -> select any particular category.

Variance Analysis

Tally provides complete variance analysis reports. This report provides information of variance of actual figures
budgeted figures. The user can get a variance analysis report once he has activated Budgeting and Control opti
option hence will help the management in taking critical management related decisions. This will help giving ex
to management. The drill down feature can be used to go to the voucher level details to understand the problem

Procedure:

-> select Trial Balance / Group statements -> select Budget Variance (Alt + B) -> select type of Budget -> acce

Ratio Analysis

Ratio Analysis provides management with reporting tools that can give you the pulse of the corporate health. Th
more useful information than absolute numbers. Tally helps the user in analyzing ratios and performance of the
Ratio Analysis report provides information on all major Ratio's and also information's like Operating Cost figures
Working Capitals etc which will help the management in taking critical decisions. This report helps the company
information not only to internal management use but also external agencies such as banks etc.
Procedure:

-> select Ratio Analysis from 'Gateway of Tally'

Scenario Management, Including Reversing Journals and Optional vouchers

Scenario Management is the latest management tool provided in Tally by which the user can create multiple sce
purpose of forecasting or to view provisional reports. This can be done by selectively including certain types of
which will in no way affect the regular books. The vouchers that are used in Scenario management are

1. Optional Voucher
2. Memorandum Voucher
3. Reversing Journal

Procedure:

-> select F11 (Feature) -> activate 'Use Rev. journals and Optional Vouchers -> accept screen -> select Accoun
select Scenarios -> select Create -> specify 'Name' of the scenario -> activate or deactivate 'actuals' as per req
specify the type of vouchers to be included (use Exclude options only when you need to exclude voucher types
been included previously) -> accept the screen

To view Scenario -> select any report like B/S, P/L, Cost Centre, Ledgers etc -> select New Column -> Select S
accept screen.

Reversing Journals and Optional vouchers are both non-accounting vouchers and hence will not affect the books
any manner. The reversing Journal is a separate Voucher Type. This voucher is effective only when called for in
part of the Scenario management. In case of Rev. Journal the user can specify the date till which it is applicable

Procedure:

-> Select Voucher Entry -> select F10 -> select Rev. Journal -> complete the transaction and specify the date
applicable. For Optional Vouchers select any Voucher and select 'Optional (Ctrl + L)'. This Voucher is used when
to enter a transaction but has incomplete information or the transaction is not yet completed. This Voucher can
at any time by going into voucher alteration mode and clicking on regular option in the voucher.