38 Tally by Shikha
Content
Tally
( An accounting software package)
A Project by
“Shikha”.!
Reg. No.:Roll No.:- 21
A Brief History
• The late Shri SS.GOENKA, founder of the
company Peutronics Pvt. Ltd. set up tally
software business in 1986.
• His able monitoring of his son Bharat resulting in
the creation of the software that would simplify
the process of financial accounting and
inventory.
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
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
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.
Other Features of Tally
• Excellent Backup Provisions
• Easy exit to operating system
• Unencrypted files: owner freely carry the data
in his person
• Based on solid accounting theories and practices
• Mode of data exchange through extensible
markup language (XML)
• An exhaustive list of fields
How to start TALLY
• Create Company
• Master Creation : ledgers and vouchers
creation
• Transaction : entry of voucher
• Reports : auto created by tally
• Import : data import from excel to tally
Creating 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
· Quit
Creating a New Company
In 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 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
Setting 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 the
required options
GROUPS
• 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 Group
Single group
option is useful
when you wish
to work on one
group at a time
Multiple group option : The sub group will
automatically adopt the features of their parent group
including those specified in advanced mode. if there
is any changes for an individual group to have to
select single group option.
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.
Ledgers
• Means you can create,
display, alter single and
multiple account groups.
¨ Ledger
The 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 display
TALLY VOUCHERS
• A voucher is a
primary document for
recording all financial
transactions.
• Recording and
analyzing are easy for
different types of
transactions.
Tally’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.
configuration setting one can
customize the voucher entry
• 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.
Tally - Books of Accounts
REPORTS
•
•
•
•
•
Profit & loss statement
Balance sheet
Cash flow statement
Fund flow statement
Ratio analysis
ProfitFund
and
loss
account
Ratio
Analysis
Balance
sheet
Flow Statement
Cash Flow
Statement
IMPORTING DATA
Import of data from one company to
another created within tally happens
seamlessly
Thank
You
( An accounting software package)
A Project by
“Shikha”.!
Reg. No.:Roll No.:- 21
A Brief History
• The late Shri SS.GOENKA, founder of the
company Peutronics Pvt. Ltd. set up tally
software business in 1986.
• His able monitoring of his son Bharat resulting in
the creation of the software that would simplify
the process of financial accounting and
inventory.
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
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
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.
Other Features of Tally
• Excellent Backup Provisions
• Easy exit to operating system
• Unencrypted files: owner freely carry the data
in his person
• Based on solid accounting theories and practices
• Mode of data exchange through extensible
markup language (XML)
• An exhaustive list of fields
How to start TALLY
• Create Company
• Master Creation : ledgers and vouchers
creation
• Transaction : entry of voucher
• Reports : auto created by tally
• Import : data import from excel to tally
Creating 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
· Quit
Creating a New Company
In 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 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
Setting 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 the
required options
GROUPS
• 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 Group
Single group
option is useful
when you wish
to work on one
group at a time
Multiple group option : The sub group will
automatically adopt the features of their parent group
including those specified in advanced mode. if there
is any changes for an individual group to have to
select single group option.
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.
Ledgers
• Means you can create,
display, alter single and
multiple account groups.
¨ Ledger
The 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 display
TALLY VOUCHERS
• A voucher is a
primary document for
recording all financial
transactions.
• Recording and
analyzing are easy for
different types of
transactions.
Tally’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.
configuration setting one can
customize the voucher entry
• 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.
Tally - Books of Accounts
REPORTS
•
•
•
•
•
Profit & loss statement
Balance sheet
Cash flow statement
Fund flow statement
Ratio analysis
ProfitFund
and
loss
account
Ratio
Analysis
Balance
sheet
Flow Statement
Cash Flow
Statement
IMPORTING DATA
Import of data from one company to
another created within tally happens
seamlessly
Thank
You
