TheInstitute Of Chartered accountancy Of India

Information Technology Training

TALLY
An Accounting Software

A Project by :Navneet Bansal Reg. No.:- NRO-0271258 Roll No.:- 06 Batch No.:102

Acknowledgement
I would like to Thanks Mr. Akhilesh Tiwari & Mr. Om Prakash sir for there sincere efforts and valuable suggestion for this project. This project has certainly broadened my knowledge of tally and computers.

TABLE OF CONTENTS
y HISTORICAL BACKGROUND OF TALLY y INTRODUCTION OF TALLY y POPULARITY OF TALLY y KEY FEATURES y VERSIONS OF TALLY y FEW SHORTCUT KEYS TO REMEMBER y WORKING WITH TALLY y CONCLUSION

A Brief History
y The late Shri SS.GOENKA, founder of the company Peutronics Pvt. SS.GOENKA,

Ltd. Ltd. set up a software business (tally) in 1986. 1986.

y His able monitoring of his son Bharat resulted in the creation of the

software that simplifies the process of financial accounting and inventory through a computer system in a systematic & scientific way. popular software in accounting field throughout the world in recent days.

y Based on accounting system and assumptions it is one of the most

INTRODUCTION
TALLY  The undisputed king of all financial accounting packages available in India.
 

Capable of handling all kind of transaction. For Its use- neither need to learn new accounting methods nor should usechange existing style of handling accounts. The information can be fed as well retrieved at random and all human errors can be corrected. A post transaction system - follows the traditional methods of accounting, that is, the payment is first made on the basis of existing accounting methods (i.e., against a voucher or a cash bill) and that information is fed into the Tally. Covers a wide area - can be used by the owner, financial controller, accountant, manager or an auditor Is both accurate and convenient to use even if you are not well versed with the accounting, you can still use and at the same time become known to accounting methods

Popularity of Tally
y Since inception in 1986,Tally solutions has worked closely with small and medium enterprises ,across world ,to simplify their business processes and enhance performance. For the last 20 years ,Tally Solutions has constantly endeavored to develop cutting-edge technology products that have practical relevance to business to businesses. New features , new products, new services, new technologies ,and above all The Power of Simplicity have made tally Solutions one of the leading financial accounting software companies in the world. y Tally Solutions was the first company in the world to introduce the no-codes concept in accounting software. y While focus of Tally Solutions had previously been on a single application-Business Accounting today, It has moved from a single product company to a multiple product and services company. Currently ,Tally Solutions offering span several innovative products and services, for various business verticals and users-from traditional small business ,to middle and large enterprises , Chartered Accountants and Software Entrepreneurs. y Tally9 is perfect for companies in manufacturing ,trading and professionals. services.

Features of Tally
y Excellent Backup Provisions y Easy exit to operating system y Unencrypted files: owner freely carry the data in his

person y Based on solid accounting theories and practices y Mode of data exchange through extensible markup language (XML) y An exhaustive list of fields

VERSIONS OF TALLY
  

  

4.5 : DOS based, Accounts only. 5.4 : Window based accounts with inventory. 6.3 : 5.4 with online finalization, auditing and import & export feature. 7.2 : 6.3 with VAT, TDS and service tax. 8.1 : 7.2 with FBT and excise duty. 9.0 : 8.1 with Payroll system, multi language and extra formatting feature. feature.

Shortcut Keys Used In Tally.

y y y y y y y y y y y y y y y

F1 Company Creation. F2 Change Period. F4 Contra Voucher. ALT+F4 Purchase Order. F5 Payment Voucher. ALT+F5 Sales Order. F6 Receipt Voucher. F7 Journal Voucher. F8 Sales Voucher. CTRL+ F8 Credit Note. CTRL+ F9 Debit Note. F9 Purchase Voucher. F10 Memorandum Voucher. F11 Company Operation Alteration. F12 Configuration .

CREATING A 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 . There are options to enter password called TALLY VAULT . It provides security mechanism. .

TALLY SCREEN
GATEWAY OF TALLY

TITLE BAR

MENU BAR

LANGUAGE BUTTON

KEYBOARD BUTTON

PRODUCT BAR

MINIMIZE BUTTON

Press Alt+F1,the company information menu will come.

BOTTOM PANE CALCULATOR BUTTONS TOOLBAR

Creation Of a Company

CREATING A COMPANY

The necessary information available about the firm/ Company is entered in the company creation worksheet . After feeding the info, the company is ready to be worked upon

Company Information

Steps after choosing Select/Create Company

y Now enter all the transactions one by one ,but it must needed that ow you accept all the entries. y After accepting all entries press Esc key up to Gateway of Tally. y Choose Profit & Loss A/c or Balance Sheet to see the position, in the Profit & Loss A/c or Balance Sheet screen press Alt + F1 to see the details. y If you have made any wrong entry back to Gateway of Tally then press A/c Info. followed by Ledger, Alter then choose your transaction and change it. y In the creation line of Ledger if you change some mistake press Page Up key and change it. y To Quit Tally press Esc key up to Quit box then Press Y for Quit yes & press N for Quit no

Selection Of Period

In the period in which user Wants to work

GATEWAY TO TALLY
TO SELECT ALREADY EXISTING COMPANY TO CLOSE ANY COMPANY TO CREAT A NEW COMPANY TO MAKE MODIFICATIONS

ITS A SECURITY MECHANISM IT JUST SPLIT COMPANYS DATA AND INCREASE SPEED FOR VIEWING BACK MOVEMENT TO RESTORE THE DATA QUITS FROM CURRENT PAGE

Selection Of Groups

Selection of groups

SELECTION OF LEDGERS

Selection of Ledgers

TALLY VOUCHERS
y A voucher is a primary

document for recording all financial transactions. y Recording and analyzing are easy for different types of transactions.

CREATING A NEW VOUCHER

TO CREATE A NEW VOUCHER GO TO ACCOUNTS INFO CREATE. VOUCHER TYPES

TYPES OF VOUCHERS
 Contra  Purchase  Sales  Payment  Receipt  Credit note  Debit note  Journal

Selection of different vouchers

Shortcuts for voucher types

Purchase

Sales

Payment voucher

Receipt Voucher

Contra Voucher

Journal Voucher

Debit Note

Credit Note

Ledger display

TRAIL BALANCE
A Trial Balance Is Consolidation Of Ledger Accounts At The End Of A Particular Period. It Shows Accuracy Of All Ledger A/Cs If Tallied.

Tally - Books of Accounts REPORTS

y Profit & loss statement y Balance sheet y Cash flow statement y Fund flow statement y Ratio analysis

Profit & Loss A/C

Its A Master Nominal Account Which Shows Figure Of Profit or Loss At The End Of A Financial Year.

Balance Sheet
Its A Statement Which Shows Balances Of All Real & Personal Accounts , At The End Of A Financial Year. It Indicates True Financial Position And Whole View Of Assets And Liabilities Of An Organization.

FINANCIAL ANALYSIS
It includes CASH FLOW STATEMENTS, FUND FLOW STATEMENTS etc.. This displays true financial position, true cash profits and also Working Capital Changes. Cash Flow Statement

Ratio Analysis

Tall and

 Step 1: If you want to working with VAT then create company mention the state allow the VAT Yes, accept it.  Go to Accounts Info., Ledger , create Purchase A/C. ,VAT Yes, select your % of VAT ,accept it.  Go to Accounts Info., Ledger , create Sales A/C. ,VAT Yes, select your % of VAT ,accept it.  Create Input Tax / Output Tax Ledger , under Duty & Taxes, Choose VAT ,Choose Tax%, ,accept it.  Create your Debtors / Creditors ,then back to your Gateway of Tally.  Choose Inventory Voucher ,Press F9 for purchase voucher and press F8 for sales voucher.  When you enter your item and when at the end of the item list will come , then press Back Space and select Input Tax, accept it.  Do the same in sales voucher and select Output Tax, accept It.  To see VAT from Gateway of Tally ,click Display followed by VAT Report , VAT Computation.

WE HAVE BRIEFLY SEEN ALL THE ASPECTS & FEATURES OF TALLY. WE JUST NEED TO ENTER

VOUCHERS IN TALLY AND ALL THE RESULT IS DISPLAYED TO US WITH IN FEW SECONDS. ALL REPORTS ARE USED BY TALLY WHICH ARE SUFFICIENT FOR VIEWING THE FINANCIAL POSITION OF ANY COMPANY. BUT ITS TRULY SAID EVERY COIN HAVE TWO SIDES,SO WITH THE TALLY. BUT ADVANTAGES OF TALLY ARE MORE THAN ITS DRAWBACKS . SO WE ARE WITH CONCLUSION THAT TALLY IS UNDOUBTELY THE BEST ACCOUNTING

SOFTWARE FOR ALL SMALL AND MEDIUM CONCERNS. ITS SCOPE IS VERY WIDE AND IT WILL BE GETTING MORE & MORE BETTER WITH ITS NEWER VERSIONS.