TallyTally( An accounting software package)( An accounting software package)

A Project by “Your Name”.Reg. No.:- Your Reg. Number

Roll No.:-Batch No.:-

ACKNOWLEDGEMENTACKNOWLEDGEMENT

I express my gratitude and heartily thanks I express my gratitude and heartily thanks to our respected faculty Mr. to our respected faculty Mr. YourYour Faculty’s NameFaculty’s Name sir for their guidance and sir for their guidance and constant support towards the preparation constant support towards the preparation of this project, moreover without his of this project, moreover without his support this project would not have seen support this project would not have seen the light for the evening.the light for the evening.

A Brief History• The late The late Shri SS.GOENKAShri SS.GOENKA,, founder of founder of

the company the company Peutronics Pvt. LtdPeutronics Pvt. Ltd.. set set up tally software business in up tally software business in 19861986..

• His able monitoring of his son His able monitoring of his son BharatBharat resulting in the creation of the software resulting in the creation of the software that would simplify the process of that would simplify the process of financial accounting and inventory.financial accounting and inventory.

INTRODUCTIONINTRODUCTION

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 change 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

VERSIONSVERSIONS OF TALLYOF TALLY

• 4.5 : 4.5 : DOS based, Accounts only. DOS based, Accounts only.

• 5.4 : 5.4 : Window based accounts with Window based accounts with inventory.inventory.

• 6.3 : 6.3 : 5.4 with online finalization, 5.4 with online finalization, auditing and import & auditing and import &

export export feature.feature.

• 7.2 : 7.2 : 6.3 with VAT, TDS and service 6.3 with VAT, TDS and service tax.tax.

• 8.1 : 8.1 : 7.2 with FBT and excise duty.7.2 with FBT and excise duty.

• 9.0 : 9.0 : 8.1 with Payroll system, multi 8.1 with Payroll system, multi language and extra language and extra formatting formatting feature.feature.

GATEWAY OF TALLY

The Gateway of Tally screen is separated into four sections.

Title Area, Main Area (Ctrl + M), Calculator Area (Ctrl + N) and the Button Bar.

Main AreaThe left-hand side of the Main Area gives information of

Current Period – this is the currently loaded or selected company's accounting period.

Current Date – this is the date of the last Voucher Entry of the selected company (this is NOT the calendar date).

List of Selected Companies – This displays the name of the loaded or selected company.

Masters – for creation of Accounting Masters and Inventory Masters and Importing Master information.

Transactions / Vouchers - for creation of Accounting Vouchers and Inventory Vouchers and Importing transaction information.

Reports – for viewing and printing financial and inventory reports using the information given in Masters and Transactions.

Button Bar

The Button Bar area on this screen, displays the following buttons (keys):

Help (Alt + H) – to access Tally's online context-sensitive help

F1: Select Cmp – to select a company

F1: Shut Cmp – to shut or close the company

F2: Period – to change the period

F3: Cmp Info – to access the Company Information Menu

F11: Features – to access the Company features for a company

F12:Configure – to access the configuration settings to manage the information put into Tally.

Other Features of TallyOther Features of Tally

• Excellent Backup Provisions Excellent Backup Provisions

• Easy exit to operating systemEasy exit to operating system

• Unencrypted files: owner freely carry the data Unencrypted files: owner freely carry the data in his personin his person

• Based on solid accounting theories and Based on solid accounting theories and practicespractices

• Mode of data exchange through extensible Mode of data exchange through extensible markup language (XML) markup language (XML)

• An exhaustive list of fieldsAn exhaustive list of fields

How to start How to start TALLYTALLY

• Create CompanyCreate Company

• Master Creation : ledgers and Master Creation : ledgers and vouchers creationvouchers creation

• Transaction : entry of Transaction : entry of vouchervoucher

• Reports : auto created by tallyReports : auto created by tally

• Import : data import from excel to Import : data import from excel to tallytally

Creating a new companyCreating a new company

• Company Information Menu

• The right half of the Gateway of Tally area displays the company info. Menu

• This menu has following three options:· Select Company· Create Company· QuitCreating a New CompanyIn order to create a new company for accounting following screen will appear : 

Fields• Name• Mailing name, address• Email address• Income tax number,

sales tax number local/interstate)

• Currency symbol• Maintain (accounts

only/inventory only/both)

• Financial year • Books beginning from• Tally vault password• Security control• Base currency

information• Accept/reject

Alteration : A created company’s detail Alteration : A created company’s detail can be modified at a later time through can be modified at a later time through keys Alt+[F3] or choosing the Alter option keys Alt+[F3] or choosing the Alter option from gateway of tally. A company has from gateway of tally. A company has been successfully created with the above been successfully created with the above informationinformation

Setting up account headsSetting up account heads

• you have to setup an accounting chart for the company.Creating Master Accounts You can create master for both accounts and inventory by providing information regarding both accounts and inventory. We will start from creating account masters.

• Account Information In order to work on the master of accounts of a company, first activate the desired company then Gateway of Tally menu appear on the screen

• Select option “Account Info” Then following menu will appear :

Press F11 and select yes for Press F11 and select yes for the required optionsthe required options

GROUPSGROUPS

• Group During manual accounting the accounts (ledger) are grouped upon preparation of Trial Balance to prepare Profit & Loss account and Balance Sheet which reflect the final accounts of the company. In tally the concept remains analogous. Following screen will appears when you select Group option.

Create Single GroupCreate Single Group

Single group option is useful when you wish to work on one group at a time

Multiple group optionMultiple group option : The sub group will : The sub group will automatically adopt the features of their automatically adopt the features of their

parent group including those specified in parent group including those specified in advanced mode. if there is any changes for an advanced mode. if there is any changes for an individual group to have to select single group individual group to have to select single group

optionoption..

Stock Groups

• Based on common feature, all your stock items can be classified into stock groups.

Stock Item Stock items are the actual items in stock. This is lowest level of information about your inventory. Each item that is required to be accounted for, need to be created. You can then account for the issues and receipts of each item.

Voucher Types This option allows you to create additional voucher types or alter the existing ones. The procedure is exactly identical to the voucher type functions that we discussed in ‘Account Info.’ Menu.

Units of Measure This option is used to specify the various units of measure you use to specify the quantities of stock items.

LedgersLedgers

• Means you can create, display, alter single and multiple account groups.¨ LedgerThe next option after group in Account info menu is Ledger

• In this menu you can create, display and alter single and multiple ledger accounts.

Ledger displayLedger display

TALLY VOUCHERSTALLY VOUCHERS

• A voucher is a A voucher is a primary document primary document for recording all for recording all financial financial transactions. transactions.

• Recording and Recording and analyzing are easy analyzing are easy for different types for different types of transactions.of transactions.

Tally’s Voucher TypesTally’s Voucher Types• Tally by default provides 18

types of predefined vouchers are unable to fulfil requirements then Tally also gives you a provision to alter these existing types according to you need.

• They pertain to both accounting and inventory.

• Some vouchers can be used differently according to the situation.

• Different vouchers are created for data entry purpose.

• It can be customize as per the requirement.

By using key F12 i.e. By using key F12 i.e. configuration setting one configuration setting one can customize the voucher can customize the voucher entryentry

• Voucher Entry in tally is the most visited area by the user and is key to all business information.

• A voucher (also called a journal) is a document containing the details of transaction.

• For every transaction, you enter a voucher in Tally.

• The voucher entry option at the Gateway of Tally enables you to make your day-to-day entries.

• On the left hand side of the screen a menu will display, from which you can change type of voucher.

VOUCHER TYPES AND VOUCHER NUMBERING

YOU WILL ONLY BE USING THE FOLLOWING VOUCHER TYPES

BANK PAYMENT VOUCHER CASH PAYMENT VOUCHER OTHER PAYMENT VOUCHER RECEIPT

UNDER PAYMENT

UNDER RECEIPT

VOUCHER NUMBERING CODES TO BE USED IN DIFFERENT AREAS

BATTICALOA - BATRINCOMALEE - TRVANNI - VIJAFFNA - JAMANNAR - MAVAVUNIYA - VU

CONTINUE TO THE NEXT SLIDE

VOUCHER TYPES AND VOUCHER NUMBERING

VOUCHER NUMBERING METHODS

•BANK PAYMENT VOUCHER

BPV / AREA CODE / CHEQUE NUMBER

Eg:- A BANK PAYMENT VOUCHER NUMBER IN JAFFNA BPV/JA/251436 A BANK PAYMENT VOUCHER NUMBER IN BATTI BPV/BA/859647

•CASH PAYMENT VOUCHER

CPV / AREA CODE / VOUCHER NUMBER

Eg:- A CASH PAYMENT VOUCHER NUMBER IN TRINCO CPV/TR/0001 A CASH PAYMENT VOUCHER NUMBER IN VANNI CPV/VI/0001

CONTINUED TO NEXT SLIDE

VOUCHER TYPES AND VOUCHER NUMBERING

VOUCHER NUMBERING METHODS

•OTHER PAYMENT VOUCHER

OPV / AREA CODE / VOUCHER NUMBER

Eg:- A OTHER PAYMENT VOUCHER NUMBER IN MANNAR OPV/MA/0001 A OTHER PAYMENT VOUCHER NUMBER IN VAVUNIYA

OPV/VU/0001

•RECEIPT VOUCHER

RC / AREA CODE / VOUCHER NUMBER Eg:- A RECEIPT VOUCHER NUMBER IN TRINCO RC/TR/0001 A RECEIPT VOUCHER NUMBER IN VANNI RC/VI/0001

VOUCHERCODE AREA

CODE

VOUCHERNUMBER

Tally - Books of AccountsTally - Books of AccountsREPORTSREPORTS

• Profit & loss statementProfit & loss statement

• Balance sheetBalance sheet

• Cash flow statementCash flow statement

• Fund flow statementFund flow statement

• Ratio analysisRatio analysis

RESULT WINDOWRESULT WINDOW

IMPORTING DATAIMPORTING DATAImport of data from one company to Import of data from one company to another created within tally happens another created within tally happens seamlesslyseamlessly

BUDGETS AND VARIANCE REPORTS

THERE WILL BE TWO TYPES OF BUDGETS

1) MAJOR LINE BUDGET

BUDGETS WOULD BE ENTERED TO YOUR SYSTEM TO COMPAREYOUR ACTUAL EXPENSES WITH YOUR BUDGET AMOUNTS. THIS WOULD ALSO GIVE YOU VARIANCE REPORTS.

PATH

GATE WAY OF TALLYACCOUNTS INFO. BUDGET

CREATE

BUDGETS

Thank You