Computerised Accountancy

 

COMPUTERISED ACCOUNTA ACCOUNTANCY NCY Computerised Environment

By now the students are familiar with the concepts of accounting and how different methods of accounting are to be adopted in different situations. Now, we look  acco accoun unti ting ng in a co comp mput uter erise ised d en envi viro ronm nmen ent. t. Th Thee firs firstt an and d forem foremos ostt th thin ing g to remember is that the fundamentals of accounting does not change whether books of account are maintained manually or are computerised. The same principles of  debit and credit that we apply for recording income or expenditure, purchase or  sale of assets or creation or discharge of liability in a manual accounting system is equally applicable in a computerised environment. However, since the recording medium is something else compared to hard copy documents and considerable reliance have to be placed on the software for the inpu reliance input, t, processi processing ng and outp output ut of  the data certain precautions, methodologies and techniques are to be adopted while maintaining accounts in a computerised environment. Salient Features of Computerised Aountin! S"stem

omputer information system environment exists when one or more computer!s" of any type or si#e is !are" involved in the processing of financial information, including quantitative data, of significance to the audit, whether those computers are operated by the entity or by a third party. $ computerised computerised accounting environment will therefore have the following salient features% &. 'ast, (owerful, )imple and *ntegrated% omputeri#ed accounting is designed to automate and integrate all the business operations, such as sales, finance,  purchase, inventory and manufacturing. + +ith ith computeri#e computeri#ed d accounting, accurat accurate, e, uptodate business information is literally at the fingertips. omputeri#ed accounting has userdefinable templates which provides fast, accurate data entry of the transactions.

 

omputeri#ed accounting has the ability to handle huge volumes of transactions without compromising on speed or efficiency efficiency.. -. omplete isibility / )calability% +ith omputeri#ed accounting the company will have greater visibility into the daytoday business operations and access to vital information. omputeri#ed accounting adapts to the current and future needs of the business, irrespective of its si#e or style. 0. ustomised% omputeri#ed accounting allows the company to enter data in a variety of ways which makes work a pleasure. $ $dapting dapting to the specific business needs is possible. Hence, a software can be tailormade accordingly to the need of  the business. 1. 'or quick decision making / improved Business (erformance% ( erformance% omputeri#ed accounting is a highly integrated application that transforms the business  processes with its performance enhancing enhancing features which encompass encompass accounting, inventory,, reporting and statutory processes. This helps the company access inventory information faster, and takes quicker decisions. omputeri#ed accounting also guarantees realtime optimi#ation of operations and enhanced communication.*t generates realtime, comprehensive 2*) reports and ensures access to complete and critical information, instantly instantly.. Si!nifiane of Computerised Aountin! S"stem

+ith computers becoming extensively used in business today, it is obvious that acco accoun unts ts wh whic ich h we were re ea earli rlier er ma main inta tain ined ed in a ma manu nual al form form wi will ll be grad gradua uall lly y replac rep laced ed wit with h com comput puteri eri#ed #ed acc accoun ounts. ts. Th Thee spe speed ed wit with h whi which ch acc accoun ounts ts can be maintained is several fold higher. Basic difficulties faced like balancing of trial  balance, correct posting into the general ledger and subsidiary ledger is a thing of  the past. Today any person maintaining accounts in the computer does not have to

 

consider that while making say a cash expense entry through the cash payment screen that the corresponding ledger posting of the expense has been done  properly or not. )imilarly the trial balance should automatically tally unless some mistake is made while recording the opening balances. Codifiation and #roupin! of Aounts

3nli 3n like ke a ma manu nual al acco accoun unti ting ng syst system em wh wher eree ac acco coun untt co code dess are are rare rarely ly us used ed a computeri#ed accounting system frequently uses a well defined coding system. However, it should not be concluded that computerised account must always have account codes. There are many accounting softwares available which support a noncoded nonc oded accounti accounting ng syste system. m. $ coded account accounting ing syste system m is more conve convenient nient where there are numerous account heads and the complexity is high. *t also to some extent reduces the possibility of the same account existing in several names due to spelling mistakes or abbreviations used. $ pro proper per cod codifi ificat cation ion req requir uires es a sys system temati aticc gro groupi uping ng of acc accoun ounts. ts. Th Thee ma4 ma4or  or  groups or heads could be $ssets, 5iabilities, 6evenue 6eceipts, apital 6eceipt, 6evenue 7xpenditure, apital 7xpenditure. The subgroups or minor heads could  be 8ash8 or 86eceivables8 or 8(ayables8 8(ayables8 and so on. T The he grouping and codifi codification cation is dependant upon the type of organisation and the extent of subdivision required for reporting on the basis of profit centres or product lines. There could a classification based on geographical location as well. Aountin! Pa$a!es

$ccoun $cc ountin ting g sof softwa tware re is an inv invalu aluabl ablee res resour ource ce for mod modern ern bus busine iness. ss. )of )oftwa tware re allows detailed tracking of financial transactions and near instantaneous reporting and an d an anal alys ysis is.. )e )ele lect ctio ion n of the the ac acco coun unti ting ng soft softwa ware re de depe pend nden ents ts up upon on th thee requirement of business. *f you have small organi#ation that makes only a few

 

 basic transactions a month9deposits, withdrawals and invoices, you can even use a spread sheet package like 2icrosoft 7xcel. *f your your bu busi sine ness ss is grow growin ing g fa fast st yo you u shou should ld co cons nsid ider er us usin ing g pre prepa pack ckag aged ed accounting software like, )age, Tally, or, '$T or any other billing software. $t the higher end if you are in service industry or your business has some specific requirements which are not available in common prepackaged software, you will have to go for customised accounting software. 5arger organisations go often for an 76( package where finance comes as module. $n 76( is an integrated software package which manages the business process across the entire enterprise.

An Overvie% of T&e Tall"

The Tally acc accoun ountin ting g and inv invent entory ory man manage agemen mentt sof softwa tware re has bee been n do doing ing its rounds around the world for about two decades. The Tally accounting software is simple to install / use, operates at great speed, and are versatile and flexible. Therefore, they are widely used by organi#ations across the world. TH7 T$55: 76( ; There are different versions of the Tally accounting software. 7ach has its own set of specifications and advantages to offer for businesses. Tally 76( ; has ta take ken n the the fe feat atur ures es an and d ad adva vant ntag ages es of the the Tall lly y ac acco coun unti ting ng an and d in inve vent ntor ory y mana ma nage geme ment nt soft softwa ware re se seve vera rall no notc tche hess high higher er wi with th ad adva vanc nced ed func functi tion onss an and d advantages like never before. This codeless tool allows for remote functioning and therefore limitations of location and time have become irrelevant today. $lthough Tally Ta lly 76( ; is already inbuilt with an extensive list of features, the presence of the Tally Ta lly customi#ation feature magnifies the relevance of the tool to every<any kind of   business.

 

Install Ta Tall"'ERP ll"'ERP (

:ou can install Tally.76( ; using one of the following methods% Met&od )

= >ouble click the install.exe icon on the >. Met&od * 

= lick START from +indows. = )elect RUN. = T:(7 ?> drive@%A*N)T$ drive@%A*N)T$55 55' = (ress ENTER . 'ollow the instructions displayed on your screen to proceed with the installation of  Tally.76( ;. = TheTall"'ERP

(

Setup

+i,ard screen

= lick Ne-t to continue with the installation

is

displayed

as

shown.

 

The Tally.76( ; )etup screen appears .') *n the (rograms section check select Tally.76( ;. .'* *n the Tall"'ERP ( Setup section, you can accept the default directories as

shown or click on the buttons provided next to the respective text boxes to change Diretor"/ Confi!uratio Confi!uration n Diretor"/ Diretor"/ the path of Appliation Diretor"/ Data Diretor"/ 0an!ua!e Diretor" and 0iense Diretor". .'*')  Appl Appliat iation ion Dire Diretor tor" "  The prog progra ram m fi file less re resi side de in th this is di dire rect ctor ory y. .'*'* Data Dire Diretor" tor"  by def defaul aultt Tally ally..76( ; dat dataa is sto stored red in %A %AT Tally lly..76(

;A>ata. >uring the installation process, the wi#ard detects and retains the data path of previously installed version of Tally.76( ;. .'*'. Confi!uration Diretor"  by default the configuration files reside in the

application directory. .'*'1 0an!ua!e Diretor Diretor" "  by default the 5anguage files with the extension .dct

are stored in the application directory. *n the 0ie 0iense nse Deta Details ils secti section, on, by defau default lt Use 0o 0oal al 0i 0iens ensee File File is sele selected. cted. 5icense >irectory  by default the license file resides in the license directory. Note% 7nsure that an earlier version of Tall"'ERP ( Silver is acti activated vated.. 7nter the

 path of the license file in 0iense Diretor". This enables you to run multiple instances of Tall"'ERP Tall"'ERP ( Silver on the same computer using a single license file.

 

 

0. lick Ne-t.

 

1. *n the Coun Countr"2 tr"20an! 0an!ua!e ua!e Sele Seletion tion scr screen een,, che check ck Ins Instal talll Op Opera eratin tin! !

S"stem 0an!ua!e Support to ins instal talll Tally ally..76( ; wit with h mul multi tilin lingua guall sup suppor port. t. Note% To use Tally.76( ; in 7nglish only, uncheck *nstall Cperating )ystems

5anguage )upport  

D.

By

default, India2SAARC appears

in

the Co Coun untr tr" "

Se Sele let tio ion n.

)elect Ot&ers if you are not residing in *ndia or any of the SAARC countries.

 

 

E. lick Install.

 

F. The Setup Status screen is displayed as shown.

 

 

G. :ou will ill be prom rompted ted for for the the lang langu uag agee sup suppo port rt fi file less in the Files

needed screen, insert operating systems > in the drive or click 3ro%se and select

the i.45 folder where the required language support files reside on your computer.  

;. lick O6  to  to install 0an!ua!e Support.

Note% *ncase you click ancel or do not have the operating system >, The

language support will not be available.

 

&. *n the installer screen click Finis& to complete Tall"'ERP ( Setup.

 

  &&. lick Finis& to complete Ta Tall"'ERP ll"'ERP ( Silver Ins Installation tallation . To start the Tall"'ERP ( appli applicatio cation, n, doub double le click the Tall"'ERP ( icon on the desktop. Up!radin! from prior versions

 

2igrating to T Tally ally.76( .76( ; from any p prior rior version of T Tally ally is simple  these tools

are either built into the product itself or available as migration tools that are installed

along

with

the

product.

Typically, there will be no need to make any changes to the data post migration 

 

and the tra ran nsition tim imee could be 4ust minutes  a few hours at most. Iettin Iet ting g a bit mor moree spe specif cific, ic, Tally lly.7 .76( 6( ; wil willl mig migrat ratee all dat dataa from Ta Tally lly F.onwards, without any assistance. *f you have an older version !E.0, D.1 and so on" you will need to bring your data to F.- and then migrate !our )ales / )upport  partners will be able to help you". *n any case these tools are available at no extra cost. *n a few cases you might have customised or extended Tally  this would have  been done with one or more T>5Js, most likely built by one of our partners. Tally.76( ; comes with a T>5 conversion tool that will attempt to convert such T>5Js. Note, the word JattemptJ  since both the product and the T>5 language evolve, there is a small possibility that the conversion may not succeed. *n such cases you would need to contact the author of the customisation and make the necessary changes to the T>5. +e therefore recommend that where customisations exist,

there

be

a

simple

pilot

undertaken

to

assess

impact.

$ccount 2anagement is now a ma4or feature available in Tally.76( ;. $s part of  the Jontrol entreJ, you have a powerful way of managing your deployments. *ncluded is serial number management.   Definin! User7Interfae 0an!ua!e

The user interface language defaults automatically, based on the Initial Startup 0an!ua!e  sel select ected ed at the tim timee of Tally lly..76( ; *ns *nstal tallat lation ion,, usi using ng the ins instal taller  ler 

wi#ard. 'or example, if you have selected 8indi as Initial Startup 0an!ua!e, the Tally.76( ; interface displays in Hindi. However, Tally.76( ; allows you to configure the user interface language before or after the creation of ompany. (resently, Tally.76( ; supports user interface in

 

; *ndian languages !Hindi, 2arathi, Iu4arati, Bengali, Kannada, Tamil, Telugu, 2alayalam, (un4abi" and Hinglish !colloquial Hindi". onfigure your language as given. &. lick #9 0an!ua!e from the hori#ontal toolbar or press A0T : # -. *n 0an!ua!e Confi!urati Confi!uration on screen, select the lan!ua!e  from the 5ist of  5anguages

0. The in interfa terface ce dis displays plays in th thee lang language uage sselecte elected d Tall" ll" screen in 8indi displays as shown. The #ate%a" of Ta

 

  Tally. Ta lly.76( 76( ; automatically loads the relevant dictionary for the configured language and the interface !menus and prompts" is accordingly translated into the selected language.   Multilin!ual

2any businesses require their *T business solution to support languages other than 7nglish. This is required for billing in localised areas, issuing purchase orders / statements to non7nglish suppliers, Iovernment and local bodies. )everal reallife challenges limit the use of multiple languages% product support, use of the keyboard, multiple users and simultaneous use of many languages by different users for different audiences9are 4ust some. Tally.76( ; builds upon the internal languages supported by the +indows L Cperating )ystem to deliver the worldMs only concurrent multilingual business solution.

 

$ctivated with a simple key combination, the current language changes for data entry ent ry,, rep report ort dis displa play y or dur during ing pri print nt >at >ataa ent entry ry is eas eased ed usi using ng tra transl nslite iterat ration ion capa capabi bili liti ties es,, el elim imin inat atin ing g the the ne need ed for for the the us user er to kn know ow ho how w to wr writ itee in th that at language. There is also no need to buy a regional keyboard, however there is also support for those familiar with phonetic keyboards. >ifferent users in a single office can set different languages as their language of choice. The languages currently supported are Bahasa *ndonesia, Bahasa 2elayu, Bengali, Iu4arati, Hindi, Kannada, 2alayalam, 2arathi, (un4abi, Ta Tamil, mil, Te Telugu lugu and 7nglish !3K". +hen +h en ex exte tend ndin ing g or cu cust stom omis isin ing g Tally lly.76 76( ( ;, ou ourr pa part rtne ners rs can can ad add d sp spec ecifi ificc capabilities, like printing a disclaimer or notice in a specific language.

Aountin! Conept and Priniples

$ccounting oncepts and (rinciples are a set of broad conventions that have been devised to provide a basic framework for financial reporting. $s financial reporting involves significant professional 4udgments by accountants, these concepts and  principles ensure that the users of financial information are not mislead by the adoption of accounting policies and practices that go against the spirit of the accountancy profession. $ccountants must therefore actively consider whether the accounting treatments adopted are consistent with the accounting concepts and  principles. *n order to ensure application of the accounting concepts and principles, ma4or  accounting accou nting standard standardsetti setting ng bodie bodiess have inco incorporat rporated ed them into their repor reporting ting frameworks such as the *$)B 'ramework. 'ollowing is a list of the ma4or accounting concepts and principles% 

6elevance

 



6eliability



2atching oncept



Timeliness



 Neutrality



'aithful 6epresentation



(rudence



ompleteness



)ingle 7conomic 7ntity oncept



2oney 2easurement oncept



omparability<onsistency





3nderstandability 2ateriality



Ioing oncern



$ccruals



Business 7ntity



)ubstance over 'orm



6eali#ation oncept



>uality oncept

Creating a Company

 

Creatin! a Compan" involves providing basic information about the company

whose books of accounts are to be maintained in Tally.76( ;. Io to #ate%a" of Tall" ; <Alt:F.= Compan" Info' ; Create Compan" The ompany reation screen appears as shown%

$ detailed explanation explanation on each field is given% Diretor"

Thee da Th data ta pa path th wh wher eree yo you u wa want nt the the co comp mpan any y to be crea create ted d is spec specif ifie ied d in the Diretor"  field. This field is skipped by default when you create the company in the data path given in the Tall"'INI file. *f you want to change it, use the 3a$spae key and modify it to the path required. This Th is is ref refer erred red to as the the Tally lly $ny nywh wher eree co conc ncep eptt  wh whic ich h is th thee ab abil ilit ity y to create<loa creat e<load d compa companies nies in separa separate te direc directories tories.. The >irectory field is displ displayed ayed

 

whil wh ilee sel selec ecti ting ng )e )ele lect ct,, r rea eate te,, Ba Back ckup up,, 6e 6est stor oree an and d 6e 6ewr writ itee op opti tion onss for for a company. By default, the cursor will skip the field, presuming that you wish to use the default data direc directory tory for your work. : :o ou may press 3a$spaeto give a new  path and work from there. 'or

example,

the

default

Tally.76(

;

data

directory

could

 be C9>TA00Y'ERP>DATA. :ou may now wish to create a new company on %AT$55:.76(A(76)CN$5,

and

some

other

companies

on

%AT %A T$55 55: :.76( 76(AB6 AB6$N $NH7 H7). ). Th Thee nex nextt tim time, e, th thee def defaul aultt dir direct ectory ory dis displa plays ys %AT$55:.76(A>$T$, and if you wish to work on the data of your branches, press Backspace and enter %AT$55:.76(AB6$NH7) for the directory name. This disp displa lays ys th thee co comp mpan anie iess wh whos osee da data ta is store stored d in th that at lo loca cati tion on in th thee 5i 5ist st of  ompanies. :ou can even give the path of a network server or any other storage device. *f your business uses Tall"'Server ( to maintain data, •

lick on S9 Server Data 0o'  or press Alt:S

 

Note % *f the administrator has enabled )ecurity $ccess, users need

to provide the authorised Tally.N7T credentials in order to access the )erver 5ist. •

The 0i 0ist st of Tall"' ll"'Se Serv rver er Da Data ta 0o 0oa ati tion onss is di disp spla laye yed. d. )e )ele lect ct th thee required location

•

(ress Enter to continue with ompany reation

 

Name

7nter the name of the company whose books are being opened. *f you are a  professional accountant and are maintaining the books of your clients, give the lient ompanyJs name. Mailin! Name and Address

*n addition to the ompany Name, Tally.76( ; provides the facility to enter the 2ailing Name field. *t displays the ompany Name by default. :ou may change it as required, if the mailing name is different from the ompany Name. The mailing name and address details are picked up for inclusion in any report that needs the company name and address as heading. 'or example% Balance )heets, )tatement of  $ccounts, and so on.

 Tally.76(Js  Tally .76(Js reports print the mailing name and address as given%

 Tall lly y.76 76( ( ; do does es NC NCT T rest restric rictt the the nu numb mber er of li line ness for for th thee ad addr dres esss de deta tail ils. s. Tally.76( ; accommodates all the entered information and vertically compresses the same.  Statutor" ompliane for

 

)elect the ountry from the 5ist of ountries. The )tatutory 'eatures and Base urre u rrenc ncy y )ym )ymbo boll are are en enab able led d in ac acco cord rdan ance ce wi with th th thee co coun untr try y sele select cted ed.. 'o 'or  r  example, if the accounts belong to a company in *ndia, the base currency would be *ndi *ndian an 6u 6upe pees es.. Th Thee Ba Base se u urre rrenc ncy y wi will ll ap appe pear ar wi with th resp respec ectt to th thee o oun untr try y selected. )electing India from from the the 5ist 5ist of o oun untr trie iess brin brings gs up a )tat )tate, e, (in (in o ode de an and d Telephone No. field. State

:ou can select the appropriate state from the predefined list.

PIN Code

)pecify the (*N ode !(ostal *ndex Number" of the specified address. Telep&one

7nter the Telephone number. Mo?ile No

7nter the mobile number of the company. E7mail Address

7nter the 7mail address that will be used to email documents, reports and data from Ta Tally.76( lly.76( ;. Ena?le Auto 3a$up

)et this to Yes, if you want to enable the automatic backup of Tally.76( ; data !per  company". compa ny". 7lse, set this to No. The data backup is stored in the data folder of the

 

respective

company.

The

auto

backup

data

can

be

restored

by

 pressing Ctrl:Alt:6  from  fromCompan" Info menu or #ate%a" of Ta Tall" ll". Note % 7 n s u r e t h a t a l l t h e s y s t e m s i n a n e t w o r k h a v e t h e

same date  and time  settings. Curren"

urrency symbol is the symbol of the base currency, that is, the currency that will  be used to maintain the the books of account. The symbol O appears by default in case *ndia for *ndia<)$$6 ompanies and the field is left blank for *nternational ompanies. Note9  The urren"   s"m?ol  changes based on the country selected

from the list for Statutor" ompliane for  field. lick here here to  to read about Indian Rupee S"m?ol Conversion. Maintain

Tally. ly.76 76( ( ; dis ispl plaays a drop rop do down wn for for th thee Type of om ompa pany ny with two options Aounts onl" and Aounts %it& Inventor" )elect Aounts onl" if you do not have any inventory transactions !suitable for   professionals and corporate offices". offices". However, at a later date !if required" you can choose to alter the information as Aounts7%it&7Inventor". )electAounts7%it&7Inventor", to maintain both financial accounts and inventory inventory..

 

Finanial Year From

*n most countries, the books of accounts of a company are maintained for a stipulated period like, &- months, &D months, and so on. This stipulated p period eriod is referred to as the 'inancial :ear. Thee st Th stip ipul ulat ated ed pe perio riod d of the the fina financ ncia iall ye year ar is &- mo mont nths hs in mo most st co coun untr trie ies. s. Tally.76( ; automatically considers &- months from the date you give here as the 'inanciall :ear. 'inancia 'or example, if you enter $pril &, -G as the date, the 'inancial :ear :ear will be from $pril to 2arch ending with 2arch 0&, -;. *f you enter Cctober &, -G as the 'i 'ina nanc ncia iall :ear 'ro 'rom m then then the the fina financ ncia iall ye year ar wi will ll be from from Cc Ccto tobe berr - -G G to )eptember -G ending with 0th of )eptember every year. Tally Ta lly..76( ; all allows ows you to mai mainta ntain in dat dataa for mul multip tiple le years years by cha changi nging ng the  period <Alt:F*=  at the Iateway of Tally. *n addition, you can also specify the date of actual establishment of the company !date of incorporation" 3oo$s 3e!innin! From

Tally.76( ; presumes that you wish to maintain books from the beginning of the financial year. Hence, Tally.76( ; displays the date given in 'inancial :ear 'rom field automatically automatically.. The date for Books beginning from can be changed, in case of companies, which are incorporated in the middle of the year. *f your company is new, you can opt to start the books of accounts from the date of actual establishment of the company !date of incorporation" but close books according to the 'inancial : :ear ear as specified  by you. Ta Tally. lly.76( 76( ; provides the required flexibility in such a case by allowing

 

you to give the date when the books of accounts actually began. Tally.76( ; will open books from this date and close as on the last day of the 'inancial : :eear. 'or example, if your company is established on $ugust &;, -G, the opening  balances for all the accounts can be given as on $ugust &;, -G even though the 'i 'ina nanc ncia iall :ear give given n is $pril pril &, - -G G !$ !$pr pril il to 2arc 2arch h fina financ ncia iall ye year ar". ". Th Thee companyJs books will begin on $ugust &;, -G and close on 2arch 0&, -;, which ensures smooth transition to the next year. This concept can be applied even when you are migrating to Tally.76( ; from any other system or from a manual accounting system on any day during the 'inancial :ear. lose books in that other system on the previous day and start books on Tally. Ta lly.76( 76( ; from this day. : :ou ou are allowed to give opening balances of all 5edger  accounts including 6evenue accounts. Tall"@ault Pass%ord

Tallyault is an enhanced security system, which allows for encryption of the comp co mpan any y da data ta.. 7n 7ncr cryp ypti tion on invo involv lves es co conv nver erti ting ng no norma rmall lly y acce access ssib ible le Tall lly y information into unrecognisable information, which can only be reconverted by authorised persons. Iive a password here and repeat the same in the 6epeat field. This basically results in the creation of an encrypted company whose information is not accessible to users other than the password holder.  Pass%ord Stren!t& Pass%ord Stren!t& indi indica cato torr is av avai aila labl blee in Tall lly y.76 76( ( ; from from 6e 6ele leas asee 1.D 1.D

onwards. Now, strength is displayed while creating < altering passwords under 

 

)ecurity ontrol, Tally ault, and ontrol entre. $lso when (assword (olicy is enable ena bled, d, (as (asswo sword rd )tre )trengt ngth h is ind indica icated ted in the ha hange nge (ass (asswor word d scr screen een tha thatt appears for first time login.

5et us understand the logic used by Tally Tally.76( .76( ; to ascertain a passwordMs strength. This logic consists of two sets of conditions to be applied. A' Pass%ord Sore 3' Pass%ord 0en!t& and Username mat& Use Seurit" Control

)et this to Yes, if you want to initiate a passwordprotected system to control access to Tally.76( ; data. 7lse, set this to No. *f you opt for security control, Ta Tally. lly.76( 76( ; offers a comprehensive password based access control to different features of Tally.76( ; based on authority lists created  by the $dministrator. $dministrator. 'or more information refer >ata 2anag 2anagement ement in T Tally ally.76( .76( ;.

 Name of $dministrator $dministrator,, (assword, 6epeat $ssuming the Tally ault (assword and 3se )ecurity ontrol is set to Yes enter  the Name of Administrator, Pass%ord andRepeat in the respective fields.

 

Use Tall"Audit Features

Tally $udit allows the administrator or an auditor profile user to track changes in accounting information. *f you wish to use this facility, select : :es. es. T Tally ally $ $udit udit will  be available only to the administrator<auditor administrator<auditor,, through >isplay of )tatements of  $ccounts.'or more information refer >ata 2anagement in Ta Tally. lly.76( 76( ;. Disallo% openin! in Eduational mode 

)et this option to Yes, if you donJt want the company to be opened in Eduational mode of Tally.76( ;. 7lse, set this to No.

Cn ac acce cep ptin ting the the co com mpa pan ny cre creati ation sc scre reeen, if yo you u hav avee sp speeci ciffie ied d Tall" @ault  password, Tally.76( ; prompts you to enter the Tallyault password as

appears%

 Then Tally.76( ; prompts you to enter the Name of User and Pass%ord !if any".

 

 $fter verification Tally.76( ; imports the latest statutory masters. +ait till the screen shows that &P of import is complete.

This completes the ompany reation process in Tally.76( ;.

List of Accounts (Chart of Accounts)

 

Tally.76( ; gives you great flexibility in setting up your chart of accounts. *t allo allows ws yo you u to grou group p yo your ur ledg ledger er acco accoun unts ts righ rightt at th thee ti time me of cre creat atin ing g yo your  ur  accounts chart. :our reports and statements reflect the desired classification at all times. 0istt of aoun 0is aounts ts disp displays lays the exis existing ting &a &art rt of aoun aounts ts, listed as !roups, in

alphabetical order. To view list of aounts% Io to #ate%a" of Tall" ; Displa" ; 0ist of Aounts

  :ou can Drill do%n to a ledger name to alter its details by pressing enter. $t the highest level, accounts are classified into apital or 6evenue  and more specifically into $ssets, 5iabilities, *ncome and 7xpenditure. $lternatively use the keys S&ift:Enter from the group head to reduce the details.

 

To record detailed transactions, you have to add further ledgers, groups and sub groups of your choice. The ledgers in the Books of $ccounts affect assets, liabilities, income or expenses. Tally. Ta lly.76( 76( ; can generate a (rofit / 5oss account and a Balance )heet immediately after a transaction has been entered. *t can also generate a range of comprehensive financial statements and reports.

Voucher Entry in Tally.ERP 9 $ oucher is a document that contains details of a financial transaction and is required for recording the same into the books of accounts. 'or every transaction, you can use the appropriate Tally oucher to enter the details into the ledgers and update the financial position of the company. There are basically two types of oucher 7ntries%  

Aountin! @ou&ers

 

 

The

Inventor" @ou&ers

ouc uche herr

7n 7nttry

2e 2en nus

op opttion onss

are are

av avai aillab ablle

und ndeer Transations in

the #ate%a" of Tall". The Pa"roll and Order @ou&ersare available as separate options which can be enabled based on the requirements. The Pa"roll @ou&ers can be enabled from F)9 Aountin! Features, whereas, the Order @ou&ers can be activated from F*9 Inventor" Features.