PREPARED BY

We are thankful to the ITT Center (Rohini), ICAI to give us an opportunity to prepare this project.

We will be inharmonious to express our gratitude to our faculty Miss Renu Sharma Mam.

This project would not have been completed without those people who co-operated with us and helped us in completing the project.

It was such a great experience for us & will definitely helpful in improving our skills.

Acknowledgement

INDEX An Introduction Version of Tally Advantages of Tally.ERP 9 Limitation How to Start up the Tally How to do Creation of New Company or Alteration of an Existing Co

mpany Creation of Accounts Head Creating Accounting Master-Groups, Ledgers & Voucher Type Creating Inventory Master-Stock Group, Stock Item & Unit of Measur

e Import Master Various Accounting Voucher Inventory Voucher Trial Balance Report Generating Documents Back up and Restoring of Data Migration of tally 6.3, Tally 7.2, Tally 8.1, Tally 9 Release 2.0, Tally 9

Release 3.0 data to Tally.ERP 9.

The late SS.GOENKA, f.

TALLY:under of the company Pvt. Ltd. Set up & known as TALLY SOLUTIONS PVT. • 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.

• Covers a wide area - can be used by the owner, financial controller, accountant, manager or an auditor

Introduction

Versions of Tally

• Tally 4.5 Dos based Accounts with Inventory.• Tally 5.4 Windows based Accounts with Inventory.• Tally 6.3 With online finalization Auditing & • Tally 7.0 Import and Export features.• Tally 7.2 With VAT, TDS & Service Tax • Tally 8.1 With FBT & Excise Duty.• Tally 9.0 8.1 with Payroll system , Multi-Language

Extra formality feature.• Tally ERP.9 Tally ERP.9 with Remote Access facility,

Multi-budgets & scenarios & etc.

Tally Solutions Pvt Ltd. is a Bangalore-based software company that currently sells into more than 100 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 specialized packages for retail businesses. More advanced capabilities are found in its Enterprise resource planning package.

Industry Computer software

Founder(s) S. S. Goenka

Headquarters Bangalore, India

Area served •India•Bangladesh•Middle East•United Kingdom

• Increase in audit efficiency because of ease in access to the client's data and reports remotely.

• Powerful remote capabilities that boost collaboration .

• Easy to find qualified personnel .• Easy to customize.• Low cost of ownership via quick

implementation, Tally Integrator, Support Centre.

Advantages of Tally.ERP 9:

• Security is not there.

• Cannot have alerts if credit limit exceeds for any customer .No pop ups or message is displayed by the software.

LIMITATIONS

Title bar Create CompanyMinimize button

License Mode details

Buttons toolbarGateway of Tally

TALLY start-up screen displays as shown:

Select Company

Version detail

Calculator

CREATION OF COMPANYStep 1: Go to Gateway of Tally > Company Info > Create company

Step 2: Fill the details in all options (Option which are filled by default are mandate to fill & other are optional) Step 3: Accept the screen by pressing Enter or Ctrl+A.

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

Creation of Account Heads•First of all, open tally.erp9 program.•Now, select the company in which you want to work.•Type the password if any.•Now, you are on ‘gateway of tally’•Select – Accounts Info under Master.

Basically group and ledger are both helpful to make simple category of our assets , liabilities , income and expenditures into current and fixed asset , direct and indirect expenses and loss and income .

Creating Accounting Master Gateway of Tally>Accounts Info.>Groups

Gateway of Tally>Accounts Info.>Ledgers

Groups are collection of Ledgers of the same nature.  The Group behavior is classified into Capital or Revenue and more specifically into Assets, Liabilities, Income and Expenditure.  The Groups ascertain whether the same will affect Profit and Loss Account which is revenue in nature or Balance Sheet which is capital in nature.

Tally provides us 23 automatic groups for ledger creation but provides only 2 ledger account and its names are cash are profit and loss account .

Group is head category or it is base of ledger creation . We can simply take an example from you day to day field . Suppose you have taken commerce subject and it can also divide into management theory , accounts , business maths and economics . So , Main group is commerce and all other are called ledger accounts but under this commerce group . Same will apply in accounting in tally , We can create several groups under single ledger .

If we have changed group from one category to another , all ledger will automatically change by this . So be serious for making any change in group .

Creating Inventory Master

Step1: Gateway of Tally>Inventory Info.>Stock Group/Stock Item/ Unit of Measures

Stock Items are classified into stock groups to reflect their classification based on some community.To create a Stock Group,Go to Gateway of Tally > Inventory Info. > Stock Groups > Create

Stock Item refers to goods that you manufacture or trade. It is the primary inventory entity and is the lowest level of information on your inventory. You have to create a Stock Item in Tally.ERP 9 for each inventory item that you want to account for.

Go to Gateway of Tally > Inventory Info. > Stock Items

Units of MeasurementStock Items are purchased or sold on the basis of quantity. The quantity is measured by Units. Hence, it is necessary to create Units of Measure. You can have simple units such as numbers, meters, kilograms, and pieces or compound units like box of 10 pieces [1box =10 pieces]

Go to Gateway of Tally > Inventory Info. > Units of Measure

EX:To Create Compound unit – Doz (Dozen) of 12 Nos (Numbers), you have to create two simple units, Doz (Dozen) and Nos (Numbers) and set the conversion factor as 12.

IMPORTING DATAImport of data from one company to another created within tally happens seamlessly.

Configuration:F12

General configuration

Accts/Inventory Info. Configuration

Voucher Entry Configuration Payroll Configuration

Data Configuration

Creation of Accounting Voucher

Creating Transactions in Accounting VouchersStep1: Gateway of Tally >Accounting voucher > Payment/Contra/Receipt/Sales/ Purchase/Journal Voucher.

PAYMENT VOUCHER (F5)

RECEIPT VOUCHER(F6)

CONTRA VOUCHER(F4)

JOURNAL VOUCHER(F7)

Journal voucher is used to prepared when non cash transactions is taking place . E.g. Bank interest payment, outstanding expenses.

SALES VOUCHER(F8)

PURCHASE VOUCHER(F9)

Creating transaction in Inventory VoucherStep1: Gateway of Tally>Inventory voucher>Stock Journal

Stock Journal(ALT+F7 & also ALT+F1)

( F1)

( F2)

( F3)

Configuration of Accounting Features after press F1

Configuration of Accounting Features after press F2

Configuration of Statutory & Taxations after press F3

TRIAL BALANCE A TRIAL BALANCE IS A SUMMARY OF ALL LEDGER BALANCES TO

CHECK WHETHER THE FIGURES ARE CORRECT AND BALANCED.CONSIDERING THAT THE JOURNAL ENTRIES ARE ERROR FREE AND POSTED CORRECTLY TO THE GENERAL LEDGER, THE TOTAL OF ALL DEBIT BALANCE SHOULD EQUAL TO THE TOTAL OF ALL CREDIT BALANCE.

IN TALLY.ERP9 ,THE MATCHING OF THE TRIAL BALANCE IS A FOREGONE CONCLUSION SINCE ALL VOUCHER ENTRIES ARE IN DEBIT-CREDIT FORMAT AND MUST BALANCE AT THE ENTRY POINT.

TO VIEW THE TRIAL BALANCE GO TO

GATEWAY OF TALLY > DISPLAY >TRIAL BALANCE

TALLY.ERP SHOWS GROUP WISE TRIAL BALANCE.NEXT LEVEL DETAIL FOR A GROUP CAN BE EXPLODED BY PRESSING SHIFT + ENTER.DETAILS OF ALL GROUPS CAN ALSO BE OBTAINED THROUGH CONFIGURATION, EXCEPT FOR GROUP BEHAVING LIKE SUB-LEDGERS.SELECT F1 : DETAILED TO BREAK DOWN THE GROUPED INFORMATION OR SIMPLY DRILL DOWN A GROUP FOR FURTHER DETAIL.

Select F5: Led-wise To List All Ledgers And Their Closing Balances. The Screen Is Displayed As Shown

Select New Column To Bring Up The Closing Balance For Another Date. The Screen Is Displayed As Shown

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

Reports Generating:(1) Profit & Loss Statement

(2) Balance Sheet

(3) Cash Flow Statements

Gateway Of Tally>Cash Flow

(4) Fund Flow Statement

Gateway of Tally>Fund Flow

(5) Ratio Analysis

Gateway of Tally>Ratio Analysis

(3) Stock Summary

(4) Day Book for 31.03.2010

Gateway of Tally>Display>Day Books

(7) Sales Register

Gateway of Tally>Display>Accounts Book>Sales Register

(8) Purchase Register

Gateway of Tally>Display>Accounts Book>Purchase Register

(5) Ratio Analysis

Gateway of Tally>Ratio Analysis

(3) Stock Summary

(4) Day Book for 31.03.2010

Gateway of Tally>Display>Day Books

(7) Sales Register

Gateway of Tally>Display>Accounts Book>Sales Register

(8) Purchase Register

Gateway of Tally>Display>Accounts Book>Purchase Register

Thanks