TALLY

Click the Tally icon on the desktop to open the Tally gateway After tally opening to make the new company press ALT + F3 to open the company info In Company info give create company to add details like state, pin code, email, add local sales tax, income tax number, then to enter accept yes After opening tally gateway in that give Account info command and in that give Ledgers to make ledger give create In that add company owner name in under in capital account in opening balance write the amount and then accept yes After escape give y then in ledger give Alter in list of ledger give cash and write amount in opening balance and then give accept yes After in gateway of tally to get the report click on balance sheet, balance sheet will open This way you create the company in the tally software

 What is Accounting? What is importance of that? In modern business day to day life unlimited transaction takes place which is beyond our control In business we cannot memorise all that transection. To keep systematic recording of all incoming and outgoing cash Many transection takes place in business between person. Firm, goods or cash The systematic method of to keep recording of transections is called accounts Another reason to write the account is to achieve the goal of business. Every business has the goal of to earn profit. How much expenditure incurred and how much income takes place. It is not possible to get output of business weather in profit or loss without to keep the systematic records To fulfil the business goal it is important to keep the account

 What is account? In general account means systematic records of transection Account is method of recording financial transection into books. It is one type of arts and science. In general two words are there arts and science Arts is a means to keep proper records of transections of accounts and systematic records into books requires special skill. It is so called Science because all transactions entered are follows certain rules like in science Accounts transections are recorded in which only financial transection takes place. In account not only record financial matter but also service transection are entered. EXPLAIN ADVANTAGES OF ACCOUNTS If we maintain the proper account there will be least chances of mistakes and controls cheating and mal-intention of staff. By maintaining accounting accurately will know the exact financial condition like liabilities, responsibilities, debt

creditors and debtors and will get correct information of business. By comparing previous year accounts with current year you will easily come to know your progress or demotion of business. Business accounts are very much useful for external parties like creditors, government 1. If we demanding loan from bank they also requires statement of your account to assess your business 2. It is also useful for government if required to give any concession in tax so they can analyse your business account 3. To get the estimate of all taxes like income tax, sales tax NOTE: Accounts are always to write the as per transaction that will understand by following examples 1. Sanjay purchased rs 3000 goods from bharat this is cash transaction. Sanjay will enter purchase in his account book but bharat will enter this transaction as sales in his account book To keep remember that which types of transactions are there and whose book to record enter

LEVAL OF RECORDING THE ACCOUNTS

1 TRANSECTION 2 GENERAL ENTRY 3 LEDGER 4 TRIAL BALANCE 5 ANNUAL ACCOUNT 6 TRADING ACCOUNT 7 PROFIT AND LOSS ACCOUNT THE METHODS OF KEEPING ACCOUNTS 1.Desi account method 2.Single entry method 3.Double entry method Types of transection 1. Financial transection -cash transection -credit transection 2. cashless transection

TYPES OF ACCOUNTS 1.PERSONNEL ACCOUNT

In this type of account includes live person and also legally artificially persons account. In this type of account some are debtors or some are creditors Legally personal includes single merchant firm, partnership firm, limited company, government co-operative society, insurance company 2. GOODS PROPERTY ACCOUNT In this account enter the goods and property transection In business purchase of any thing is called Goods Example : for cloth merchant cloth is goods and other things are called property Property means cash or to be converted into cash or can be given as alternate to debts EXAMPLES: house, machine, furniture etc 3. INCOME / EXPANSES ACCOUNTS In this type of account records only expanses / income like rent, commission, interest, dividend etc.. RULES OF CREDIT DEBIT 1. GOODS PROPERTY ACCOUNT RULES When in any business property or goods comes then it will be goes into debit and goods or property goes from business it will be credited

GOODS OR PROPERTY RECEIVED ---------DEBIT GOODS OR PROPERTY SALE--------------------CREDIT

2.PERSONNEL ACCOUNT RULES When any person will receive the benefit it will be debited in his/her account and from whose account giving the benefit it will be credited On receiver account------------------debit On giving account--------------------credit 3. INCOME EXPANSE ACCOUNT RULES When in any accounts expanse takes place account will be debited or get any income or profit will be credited Expanses account--------------debit Income account-----------------credit

WHAT IS TALLY The following are primary information regarding TALLY.

Tally is one type of accounting software which works on the famous double entry method in that company will make several ledgers as per their requirements. Tally is useful for every business that is why it is very much famous In Tally before making new company you should assess that what type of accounts are required so you can create the same. After making account data will be entered through voucher entry in concern accounts. After compiling data automatically forms sales register, cash and bank book, trial balance, and balance sheet into the system not required the separate entry for that so it will take very short period In tally easy to capture if any mistake takes place and also you can modify or delete the data In tally two accounts form in the system itself it is not required any separately create the following accounts in any types of business 1cash account 2 profit and loss account Difference between computerised account and manual account 1. There is least chance to made any mistake until and unless users principle is clear 2. In manual account single transection yo

Difference between tally 4.5,5.0 and 5.4 Tally 4.5 is dataset software and tally 5.0 and 5.4 are window base software 2.ledger creation In tally 4.5 you can make only account contrary in 5.0 and 5.4 you can have a facility of multi ledger Tally 4.5 there is printing facility is not available when company makes sales contrary in tally 5.0 and 5.4 after making sales entry ask for print the bill. If you want to print the bill give y otherwise give n command. In tally 4.5 inventory facility is not available where as in tally 5.0 and 5.4 inventory with inward and out ward entry save with details Tally 4.5 graphics is not available where is very good facility of graph in the 5.4

How to start tally With this option previously made company you can open .if you want to open new company CREATE COMPANY Enter new company account

QUIT: With this option we can come out from tally in the dialogue box give y command to shut the tally After creating company for any modification press ALT +F3 after that one menu will come select alter option in that you can alter the information After createing the company to create the ledger

Account info Ledger Create Display Alter Company create After creating company first of all create the person account of owner and his initial capital show as opening balance Name : patel pradip Under: capital account Opening balance: 100000 (cr)

Whatever cash get by owner will go to the cash account automatically. we can put total cash in that account by alter command Name: cash Under cash in hand Opening balance: 100000 In tally there is different function are given to special keys F1: select company F2:change date ALT+ F1 : SHUT COMPANY ALT + F2: CHANGE PERIOD

F3:change company: ALT + F3 CREATE COMPANY F4: (COTRA) ; FOR BANKING TRANSECTION

F5 (PAYMENTS) CASH OR BANK PAYMENTS F6(RECEIPT) CASH OR BANK RECEIPT F7(JOURNAL) FOR HAVALO F8(SALES) CREDIT SALES , SALES F9(PURCHASE) DEBIT PURCHASE , PUCHASE F10(MEMO) F11(FEATURES) F12(CONFIGURE) CR-----CREDIT DEPOSITE TO

DEBIT-----DR

BY