COMPUTERISED ACCOUNTING
Content
COMPUTERISED ACCOUNTING
Most commonly accounting softwares in the market are: DAC EASY, PEACHTREE ACCOUNTING, POWERPAK ACCOUNTING AND INVENTORY CONTROL, EXECUTIVE ACCOUNTING, EX.NEXT GENERATION, WINGS and ATACC. Introduction to tally: Tally is simple and powerful accounting software used to store and maintains daily business transactions. It is a MS DOS and Windows based package used for multi accounting purpose. The main features of Tally accounting software are: 1.It is a codeless accounting system. 2. It provides 28 predefined ledgers 3.It maintains the accounts of multiple companies. 4. It provides cost centre wise accounting. 5. It permits to publish reports and documents on internet SHORT CUT KEYS Account Group creation Single mode Multiple mode Display account group Single mode Multiple mode Altering account group Single mode Multiple mode Trial balance Balance sheet AGC AGR AGD AGI AGA AGT DT B Ledger creation Single mode Multiple mode Altering ledger Single mode Multiple mode Ledger display Single mode Multiple mode Profit and loss account To view detailed/Condensed ALC ALR ALA ALT ALD ALI P <Alt+F1>
Points to be remembered at the time of voucher entry: Payment/Receipt/ Contra voucher can be passed using single entry/double entry mode by configuring the setting ‘Use Single entry mode for Pymt/Rcpt/Contra’ in F12: Configuration. Sales/ Purchase voucher can be converted into invoice/voucher mode by pressing < Ctrl + V > on the keypad or click ‘As Invoice’/ ‘As Voucher’ in the horizontal button bar respectively. In order to activate Credit Note/Debit Note voucher, Click F11: Features and activate ‘Use debit/Credit Notes’. Alter a voucher: For altering a transaction made using voucher go to: Gateway of tally--Display--Day book. Enter the day on which the voucher entry was made
by pressing F2 on keyboard or button bar. Select the voucher entry to alter. Press Enter and make necessary changes. OR When we are in ‘Accounting voucher creation’ screen, to alter a voucher: Enter the date on which the voucher entry was made by pressing <F2>. Press <Page up> on the keyboard till the voucher we wish to alter appears on the screen. Make necessary changes and accept it. Cancellation of a voucher: It means deleting a voucher without removing it from Tally ERP9. Gateway of tally—Display—Daybook—Select the Voucher—Press<Alt+X> Ledger creation during voucher entry Press <Alt+C> when the cursor appears on the field ‘Particulars’ for creating a ledger. Points to be remembered at the time of ledger creation: If an existing company are going to computerise their accounts using Tally ERP9, should enter the opening ledger balance in the field ‘Opening Balance’ and also note Whether the balance is ‘Dr’ or ‘Cr’ (It will come automatically).In the case of ledger drawings, sales return, and purchase return we have to change the aspect as ‘Dr, Dr, and Cr’ respectively. Deletion of ledger accounts: Tally ERP9 permits to delete the ledger if no vouchers have been created under this ledger. For deleting a ledger under which vouchers have been created, first of all delete all the vouchers from that ledger.
QUESTION ANSWERS 1) Which is the function key to shut a company in tally 2) The function key to activate calculator in Tally 3) The function key used to change current period and current date in tally 4) Write the functions used to display and alter the ledgers created in tally 5) Advise in the following cases a)Mr.Madhu while entering purchase return could not able to locate debit note voucher b)Mr. Mohan create the ledger interest received under the group indirect c)Mr. Sunil wants to display profits and loss account after entering all voucher entries.
6) Mr. Jamal created the following ledger accounts and selected the voucher types to enter the following transactions through Tally accounting package .
Sl.no Transactions 1 2 3 4 5 6
Ledger to be created Started business with cash Cash rupees 50000 Capital Opened an account with Canara Canara bankanddepositedRupees40000 bank Goods purchased from velu Purchase Rupees5000 Velu Paid for carriage inward Rupees Carriage 5000 inward Purchased furniture Rupees Furniture 6000 and paid by cheque Sold goods to Rajani Sales Rajani Rupees5000
Under Cash in hand Capital Bank account Purchase Sundry debtors Indirect expenses Fixed asset
Voucher
F5 F5 F7 F6 F7
Indirect income F7 Sundrycreditors
7) For entering the opening balance of cash, one of your friends Senin S. decides to create a cash account. After typing ‘cash’ on ‘name’ field and pressing enter, an error message appeared as ‘Duplicate Entry’. Can you help Senin S.to solve this problem? Ans: For entering opening balance of cash, go to: Gateway of tally---Accounts information---Ledgers—Single ledger---Alter Select cash a/c from the list of ledgers and enter the amount in the closing balance field. 8) Real shop agencies computerised their accounts by using tally ERP9, with the help of the latest trial balance. But they faced some problems to enter the value of closing stock. Can you help them? Ans: For entering closing balance of stock go to: Gateway of tally—Accounts information—Ledgers---Single---Ledger---Alter Select the stock from the list of ledgers and enter the closing date and amount in the respective field. NOTE: Generally closing stock should be automatically calculated and appear in reports, if enable “Integrate accounts with inventory” in F11:Features.It is possible when accounts are maintained with “Accounts with Inventory”. But if we maintain accounts through ‘Accounts only’ closing stock will not appear automatically in the reports. In this situation, enter the closing stock by altering stock ledger in alteration mode or drill down closing stock in balance sheet or profit and loss a/c or trial balance. Path for entering closing stock: Gateway of tally---Accounts information---Ledgers---Single ledger OR Gateway of tally—Balance sheet---Current asset---Closing stock---Stock OR Gateway of tally---Profit and loss a/c---Closing stock---Stock
OR Gateway of tally---Display---Current assets---Opening stock---stock. Enter the closing date and value of closing stock in the appropriate field. Before alteration, create stock ledger under stock in hand group. For appearing the value of closing stock in P/L a/c and BS, change the period by pressing <Alt+F2>. 9) What is Hot Key? When the cursor goes through all menus, a capital letter appears in red colour, which is known as Hot Key. 10) While creating a company, we have two options to maintain accounts in Tally ERP9Accounts only and Accounts with Inventory. Can you explain the difference between these two options?. Ans: if the company does not deal with any type of inventory transactions, Accounts only is selected. If a company deals with inventory transactions, we select Accounts with Inventory. 11) Computerised accounting teacher asked Ram to enter the following transactions in the books of Saral agencies, Kollam by using Tally. 2011 January 1 Purchased from Arun rupees 10000. This company is already created but not displayed on the left hand side of ‘Gateway of tally screen’ under ‘Name of company’.He decided to create another company in the same name address. What is your opinion? 12) Can you explain in brief for what purpose security control part in company creation is activating? ‘Use Security control’ provides the administrator to ‘use tally audit features?’ which helps to track changes in accounting information. 13) Identify the groups under which the following ledgers are to be created. a. Drawings b. Purchase returns c. Sales returns d. Wages e. Canara bank 14) Anand your friend wants to delete Abhijith a/c. For this purpose he goes to ‘Ledger Alteration’ screen and press <Alt+D> but it is not deleted. Can you advise Anand?. Why can’t it be deleted? And what is the solution? 15) Drawings a/c Dr 2000 To cash 2000.
For entering the above entry Anil created ‘Drawings a/c’ under Indirect expenses and made entry by using ‘Payment Voucher’. When he displayed the Balance Sheet it showed capital without deducting drawings of Rupees 2000. What mistakes did Anil make here? Can you rectify it?
Most commonly accounting softwares in the market are: DAC EASY, PEACHTREE ACCOUNTING, POWERPAK ACCOUNTING AND INVENTORY CONTROL, EXECUTIVE ACCOUNTING, EX.NEXT GENERATION, WINGS and ATACC. Introduction to tally: Tally is simple and powerful accounting software used to store and maintains daily business transactions. It is a MS DOS and Windows based package used for multi accounting purpose. The main features of Tally accounting software are: 1.It is a codeless accounting system. 2. It provides 28 predefined ledgers 3.It maintains the accounts of multiple companies. 4. It provides cost centre wise accounting. 5. It permits to publish reports and documents on internet SHORT CUT KEYS Account Group creation Single mode Multiple mode Display account group Single mode Multiple mode Altering account group Single mode Multiple mode Trial balance Balance sheet AGC AGR AGD AGI AGA AGT DT B Ledger creation Single mode Multiple mode Altering ledger Single mode Multiple mode Ledger display Single mode Multiple mode Profit and loss account To view detailed/Condensed ALC ALR ALA ALT ALD ALI P <Alt+F1>
Points to be remembered at the time of voucher entry: Payment/Receipt/ Contra voucher can be passed using single entry/double entry mode by configuring the setting ‘Use Single entry mode for Pymt/Rcpt/Contra’ in F12: Configuration. Sales/ Purchase voucher can be converted into invoice/voucher mode by pressing < Ctrl + V > on the keypad or click ‘As Invoice’/ ‘As Voucher’ in the horizontal button bar respectively. In order to activate Credit Note/Debit Note voucher, Click F11: Features and activate ‘Use debit/Credit Notes’. Alter a voucher: For altering a transaction made using voucher go to: Gateway of tally--Display--Day book. Enter the day on which the voucher entry was made
by pressing F2 on keyboard or button bar. Select the voucher entry to alter. Press Enter and make necessary changes. OR When we are in ‘Accounting voucher creation’ screen, to alter a voucher: Enter the date on which the voucher entry was made by pressing <F2>. Press <Page up> on the keyboard till the voucher we wish to alter appears on the screen. Make necessary changes and accept it. Cancellation of a voucher: It means deleting a voucher without removing it from Tally ERP9. Gateway of tally—Display—Daybook—Select the Voucher—Press<Alt+X> Ledger creation during voucher entry Press <Alt+C> when the cursor appears on the field ‘Particulars’ for creating a ledger. Points to be remembered at the time of ledger creation: If an existing company are going to computerise their accounts using Tally ERP9, should enter the opening ledger balance in the field ‘Opening Balance’ and also note Whether the balance is ‘Dr’ or ‘Cr’ (It will come automatically).In the case of ledger drawings, sales return, and purchase return we have to change the aspect as ‘Dr, Dr, and Cr’ respectively. Deletion of ledger accounts: Tally ERP9 permits to delete the ledger if no vouchers have been created under this ledger. For deleting a ledger under which vouchers have been created, first of all delete all the vouchers from that ledger.
QUESTION ANSWERS 1) Which is the function key to shut a company in tally 2) The function key to activate calculator in Tally 3) The function key used to change current period and current date in tally 4) Write the functions used to display and alter the ledgers created in tally 5) Advise in the following cases a)Mr.Madhu while entering purchase return could not able to locate debit note voucher b)Mr. Mohan create the ledger interest received under the group indirect c)Mr. Sunil wants to display profits and loss account after entering all voucher entries.
6) Mr. Jamal created the following ledger accounts and selected the voucher types to enter the following transactions through Tally accounting package .
Sl.no Transactions 1 2 3 4 5 6
Ledger to be created Started business with cash Cash rupees 50000 Capital Opened an account with Canara Canara bankanddepositedRupees40000 bank Goods purchased from velu Purchase Rupees5000 Velu Paid for carriage inward Rupees Carriage 5000 inward Purchased furniture Rupees Furniture 6000 and paid by cheque Sold goods to Rajani Sales Rajani Rupees5000
Under Cash in hand Capital Bank account Purchase Sundry debtors Indirect expenses Fixed asset
Voucher
F5 F5 F7 F6 F7
Indirect income F7 Sundrycreditors
7) For entering the opening balance of cash, one of your friends Senin S. decides to create a cash account. After typing ‘cash’ on ‘name’ field and pressing enter, an error message appeared as ‘Duplicate Entry’. Can you help Senin S.to solve this problem? Ans: For entering opening balance of cash, go to: Gateway of tally---Accounts information---Ledgers—Single ledger---Alter Select cash a/c from the list of ledgers and enter the amount in the closing balance field. 8) Real shop agencies computerised their accounts by using tally ERP9, with the help of the latest trial balance. But they faced some problems to enter the value of closing stock. Can you help them? Ans: For entering closing balance of stock go to: Gateway of tally—Accounts information—Ledgers---Single---Ledger---Alter Select the stock from the list of ledgers and enter the closing date and amount in the respective field. NOTE: Generally closing stock should be automatically calculated and appear in reports, if enable “Integrate accounts with inventory” in F11:Features.It is possible when accounts are maintained with “Accounts with Inventory”. But if we maintain accounts through ‘Accounts only’ closing stock will not appear automatically in the reports. In this situation, enter the closing stock by altering stock ledger in alteration mode or drill down closing stock in balance sheet or profit and loss a/c or trial balance. Path for entering closing stock: Gateway of tally---Accounts information---Ledgers---Single ledger OR Gateway of tally—Balance sheet---Current asset---Closing stock---Stock OR Gateway of tally---Profit and loss a/c---Closing stock---Stock
OR Gateway of tally---Display---Current assets---Opening stock---stock. Enter the closing date and value of closing stock in the appropriate field. Before alteration, create stock ledger under stock in hand group. For appearing the value of closing stock in P/L a/c and BS, change the period by pressing <Alt+F2>. 9) What is Hot Key? When the cursor goes through all menus, a capital letter appears in red colour, which is known as Hot Key. 10) While creating a company, we have two options to maintain accounts in Tally ERP9Accounts only and Accounts with Inventory. Can you explain the difference between these two options?. Ans: if the company does not deal with any type of inventory transactions, Accounts only is selected. If a company deals with inventory transactions, we select Accounts with Inventory. 11) Computerised accounting teacher asked Ram to enter the following transactions in the books of Saral agencies, Kollam by using Tally. 2011 January 1 Purchased from Arun rupees 10000. This company is already created but not displayed on the left hand side of ‘Gateway of tally screen’ under ‘Name of company’.He decided to create another company in the same name address. What is your opinion? 12) Can you explain in brief for what purpose security control part in company creation is activating? ‘Use Security control’ provides the administrator to ‘use tally audit features?’ which helps to track changes in accounting information. 13) Identify the groups under which the following ledgers are to be created. a. Drawings b. Purchase returns c. Sales returns d. Wages e. Canara bank 14) Anand your friend wants to delete Abhijith a/c. For this purpose he goes to ‘Ledger Alteration’ screen and press <Alt+D> but it is not deleted. Can you advise Anand?. Why can’t it be deleted? And what is the solution? 15) Drawings a/c Dr 2000 To cash 2000.
For entering the above entry Anil created ‘Drawings a/c’ under Indirect expenses and made entry by using ‘Payment Voucher’. When he displayed the Balance Sheet it showed capital without deducting drawings of Rupees 2000. What mistakes did Anil make here? Can you rectify it?
