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TALLY FINAL REPORTSTALLY FINAL REPORTS
Tally is a Financial and Inventory Management
System. Tally is one of the acclaimed Accounting
Software with large user base in India and abroad. Tally is
developed by Tally Solutions Pvt. Ltd., Bangalore.
The given project on Tally has been done to show
various applications of Tally as accounting software and
its usage in the computerized environment.
The subject of the project is that a company named
Future Communications Private limited uses tally in
computerized accounting system. A part from the usual
feature of double entry system of book keeping, various
financial and inventory reports that can be generated by
using tally has been highlighted in the project. The
following are the samples of the financial and inventory
reports generated using tally which helps in decision
making.
LET US START OUR PROJECT IN
TALLY
TO CREATE A COMPANY
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1.Click on the tally icon on thedesktop.
2.The above screen will bedisplayed.
3.From here, we can start
creating a new company as
shown.
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The screen will be displayed to create
a company.
The Name, mailing address and
other details will be given to proceed
further.
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NOW, The above screen will be displayed.
FIRST OF ALL , we will have to enter Accounts Info.
Then ledgers.
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A screen will be displayed showing two categories
viz, Single ledger & multiple ledgers.
Enter into single ledger and click on Create.
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After creating all the necessary ledger accounts,
again come back to the main screen to start
entering the Accounting Vouchers.
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After that , a screen will be displayed as shown
above. The right panel is giving us idea as to which
account is to be influenced. For example:-
F1: Inventory Buttons F7: Journal
F2: Date F8: Sales
F3: Company F8: Credit Note
F4: Contra F9: Purchase
F5: Payment F9: Debit Note
F6: Reciept F10: Rev. Jrnl
F11: Features F12: Configure
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Problem based on accounts
dealt in Tally :-
TRANSACTIONS :-
1)Introduced cash into business as
capital - Rs.1,50,000
2)Purchased stock for cash - 30,000
3)Purchased stock from Ramesh
45,0004)Sold googs to Suresh - 20,000
5)Purchased furniture for cash 12,000
6)Cash received from Suresh 15,000
7)Commission received for cash 2,500
8) Goods sold for cash 22,000
9)Paid manager salary in cash 3,000
10) Purchased goods for cash from
Vinay 8,00011) Paid rent to Mahendra in cash
1,500
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Now the above transactions can easily
be dealt in ledgers.
The Following reports can be drawn :-
1) Profit & Loss account.2) Trial Balance3) Balance Sheet.
4) Ratio Analysis.
TRIAL BALANCE
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PROFIT & LOSS ACCOUNT
Balance Sheet.
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Ratio Analysis.
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LEDGER ACCOUNTS
CASH ACCOUNT
COMMISSION ACCOUNT
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FURNITURE ACCOUNT
PURCHASES ACCOUNT
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RAMESH ACCOUNT
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RENT PAID ACCOUNT
SALARIES ACCOUNT
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SALES ACCOUNT
SURESH ACCOUNT
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Inspite these ledgers , we can also
draw conclusions regarging cash
flows, fund flow etc.A brief display is given in upcoming
pages.
FUND FLOW STATEMENT
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DAY BOOK
We can also stay in touch with our
list of accounts . In Display menu
List of account
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TO MAINTAIN STOCK IN
GROUPS
1. Enter into gateway of tally.
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2. Click on Inventory info
3. Click on Stock groups now. TheScreen as shown below will bedisplayed.
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4. Click on Create insingle/multiple stock group.Here, single group is selected.
5 . The screen as shown belowwill be displayed.
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Fill the name ,i.e. , computer.
Again come to inventory info and
enter into units of measure . The
Screen will be displayed as under.
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Click on Create to enter the
following screen.
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Enter pcs. in symbol box and
proceed.
Again come to inventory info.
Stock Items
The screen will be displayed as
shown below.
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Enter one by one , all the items to
be included. A specimen is shown
below
Fill the Name column, category,
pcs etc.
A display of the list of items is
shown as under.
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Again come to Gateway of tally
Accounting vouchers.
The screen as shown below will
be displayed(F9)
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Allot every transaction of sales,
Sales transactions are as under
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Again come to Gateway of Tally
Reports
Stock Summary
The Following screen will be
displayed to you.
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The cost centre function will be activated.
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Now maintain some ledger accounts of salary
and commission to be given to staff
employees
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After that, enter into accounting voucher
creation. The following screen will bedisplayed
Enter account name say cash account.
Click on particulars.
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The following screen will be displayed.
Allot name of the cost category Staff
Allot name of the cost center Salary /
Commission
Enter one by one all the transactions
regarding salary and commission
1. Commission given to Sita ,
Khan Somya were 20000,
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10000 & 50000 rupees
respectively and salary Rs.
50000 , 40000 , 30000
respectively.
Like this , we can maintain a cost center
also.