Está en la página 1de 45

TALLY

ACCOUNTING FOR MANAGERS

G.Bhuvaneswari
M.B.A. Iyr B

COMPUTERISED
ACCOUNTING

Computerised accounting is a beneficial use of current


technological advances. It has created new types of
accounting applications for business. Companies now
create entire accounting information systems that
integrate all business operations.
With substantial increase in the number of transactions, a
machine was developed which could store and process
accounting data in no time. Such advancement leads to
number of growing successful organizations.
A newer version of machine is evolved with increase
speed,storage,and processing capacity. The maintenance of
accounting data on a real time basis became almost
essential. Now maintaining accounting records become
more convenient with computerised accounting.

COMPONENTS OF
COMPUTERISED ACCOUNTING
SOFTWARE

Preparing of accounting documents


Recording of transactions
Preparing of trial balance and
Financial statements

FOUNDER
OF TALLY
Mr. BHARAT
GOENKA

WHAT IS TALLY??

Tally is one of the best, reliable fastest


accounting software that meets the complex
business accounting requirements.
Tally is a financial accounting software package
designed by Tally Solutions, that undertakes
accounting in a simple and natural way.
Tally is a the Most Powerful Multi-lingual
Integrated Business Accounting Software which
ensures the business accuracy with its
performance.
It helps to publish the records/reports of various
accounting, stock and other statutory reports on
a click of a single button.

VERSIONS IN TALLY
Tally 4.5
Tally was stared with its 1st version Tally
4.5,which was a DOS program. This program
was very light weight and very fast in
operation.
Tally 5.4
The next version was 5.4 which was graphic
interface version. It became popular in the
masses.

Tally 6.3
Next version was tally 6.3 which was truly windows
based version which could support fast printing and with
VAT implemented.

Tally 7.2
Next version of Tally was Tally 7.2. It was also fast
version with lots of new feature like statutory compliant
versions. Different VAT rules for different states was
achieved with this version.

Tally 8.1
Tally 8.1 was developed with new data structure of Tally.
A module of POS and Payroll was added to it. The
version could not become popular and company has to
abort it before time and launch new version.

Tally 9
This is the latest version of Tally which has maximum
features. All other versions have been declared end of
life period by Tally company. Tally 9 has advance
features like Excise for Dealers, Payroll, FBT, TDS, eTDS filing facility etc along wit its regular features
related to accounting and inventory management.

Tally ERP 9
Excise for manufacturers has been one of the most
eagerly-awaited features in Tally.ERP 9. Tally ERP 9 is
designed for ordinary people to manage a business from
wherever they are. All the business IT requirements are
exclusively supported with the help of Tally ERP9.

FEATURES OF TALLY
GENERAL FEATURES :

Tally package is very co-operative with the Users.


Balance Sheet,Profit&loss Account , Ledger, Vouchers
etc can be displayed as well as printed also.
Tally is very easy to use as its enables quick data
entry and retrieval of accounting information with
lightening speed.
It enables us to enter, view and generate the
accounting records in the language of our choice
time.
It allows maintaining the record of 99999 companies
simultaneously

CONTI

Enables to identify bad debtors and


defaulters in payments.
Tally is able to calculate various accounting
ratios which helps to monitor the
performance and enables the quick and right
decision making.
It enables us to make fast decisions as it
enables us to generate the comprehensive
reports which ensure detailed access to
critical information quickly. It is one of the
major advantage.

Multilingual Business
Accounting Management
Features
Simple and rapid installation:
Tally has a simple , menu driven installation
procedure. Tally can be installed in any drive. It
uses minimum hard disk space in the local drive.

Internal backup/restore:
Tally has an in-built , user friendly backup and
restore option. It helps the user to take backups of
one or more companies or all companies in a single
directory in the local disk.

Data Reliability:
It uses a flexi-field, flexi-length, weighted file
structure for an extremely compact and fast
database. Tally is robust and data is not lost even if
there is a power failure or if computer is shut down
incorrectly.
User-defined security levels:
Tally offers high level of security. The user can define
multiple levels of security according to
requirements. Every user can have individual
passwords with rights to use specific features only.
Tally Audit:
The Tally audit features provides the user with
administrator rights, a capability to check the
correctness of the entries made by authorized users
and alter the entries if necessary.

Multilingual Support:Tally can now be used


concurrently in the language of your choice. Tally's
interface is now available in English and the Indic
languages Hindi, Kannada, Bengali, Gujarati,
Marathi, Tamil, Punjabi, Telugu, Malayalam etc.
Payroll:Payroll in Tally enables users to set up and
implement simple to complex salary structures.
Tally Payroll also supports configurable formats for
pay slip printing; flexible salary/wage, attendance,
leave and overtime registers; gratuity etc.

TDS (Tax Deducted at Source):Tally allows you to


configure TDS ledgers by specifying the Nature of
Payment and Assessee Types, along with the Rate
of TDS. It determines user-defined
expense/payment types with user-defined rates.
You can generate Challans, the Form-16A
Certificate as well as the quarterly and annual
returns.

Accounting and Inventory


Control Features

Accounting without CODES!:The only sensible way to


keep your records is to use regular names for your
accounts. With unlimited levels of classification available
in Tally, you can manage the most complex ledger
systems with ease.

Unified Ledgers:Tally pioneered the concept of Unified


Ledgers where the General, Sales and Purchase Ledgers
are integrated into a Single Ledger and organized under
groups for easy management. This concept combines the
power of reporting along with ease of data entry.

Complete Book-Keeping:Record transactions using a


unique voucher entry system that is easy and flexible to
configure for diverse transactions

Comprehensive Accounting:Instantly obtain your


Balance Sheets, Profit & Loss Statements, Cash and
Funds Flows, Trial Balances and so on..

Multi-Currency Accounting:Tally handles


unlimited currencies and manages the complexities
of Forex Gain/Loss intelligently. A single
transaction may contain more than two currencies.

Bill-wise Tracking of Trading and Non-Trading


Accounts:Tally tracks Party accounts or Loan
Accounts on a Bill-by-Bill basis (for example, new
bills raised, payments, receipts, adjustments
against bills)

Budgeting, Auditing and Security Control:Use


Original and Revised Budgets over varying periods.
Define security levels to control access and use the
powerful Audit capabilities to track malfide
changes, while making genuine corrections with
unparalleled ease.

Multi-location Stock Control:Use Tally to keep


track of your stock at single or multiple locations.
Create unlimited classification systems for your
Items and your own Units of Measure.

Ratio Analysis:A range of key performance ratios,


on a single sheet, puts you in total control of your
business.

Comprehensive Recording of Stock


Movement:Record inventory transactions easily
and comprehensively using Goods Receipt Notes,
Delivery Notes, Stock Transfer Journals,
Manufacturing Journals as well as Physical Stock
Journals. All stock movements are fully recorded
and maintained in Stock Registers.

Management Reports:Movement Analysis gives


party-wise details of goods bought and sold and
helps to identify good and bad business partners.

Re-Order Levels and minimum order


quantities:Know your stock order position with the
comprehensive Order Status reports in Tally.

VOUCHER

It is a written document in support of a


transaction. It is a proof that a particular
transaction has taken place for the value
stated in the voucher. It may be in the
form of cash receipt, invoice, cash memo,
bank pay-in-slip etc.

Voucher is necessary to audit the


accounts.

TYPES OF VOUCHERS
The standard vouchers are.
Contra Voucher(F4)
Payment Voucher(F5)
Receipt Voucher(F6)
Journal Voucher(F7)
Sales Voucher(F8)
Credit Note{sales return} (Ctrl F8)
Purchase Voucher(F9)
Debit Note{purchase return} (Ctrl F9)

TYPES OF VOUCHERS IN BRIEF


CONTRA VOUCHER:
According to accounting rules, Contra entry is a
transaction indicating transfer of funds from
Cash account to Bank Account, Bank account to
Cash account, Bank account to bank account.
Only transactions related to bank and cash are
recorded here. Short-cut key used here is F4.
Eg :
Cash deposited into Indian Bank
Cash withdraw Rs.1000

PAYMENT VOUCHER:
Transactions involving payment of cash or cheque
are accounted using Tallys payment voucher.
The shortcut key used for payment voucher is F5.
Expenses made for buying FA, Indirect expenses
Eg:
o Telephone charges paid
o Rent paid

RECEIPT VOUCHER :
Transactions accounting for money received are entered
into Tally through the receipt voucher.
The shortcut key used for receipt voucher is F6.
Incomes through cash, Indirect incomes
Eg:
o Commission received.

SALES VOUCHER:
Transactions related to cash and credit sales are
recorded here. The shortcut key used for sales
voucher is F8.
E.g.
o Goods sold to Raman on credit basis.

CREDIT NOTE: (Sales returns)

This note is generally raised against the sales


return(goods return by buyers) or if there is
excess debit to a party.
The shortcut key used for credit note is Ctrl F8.
E.g.
o Goods sold to Raman are returned.

PURCHASE VOUCHER:
Transactions related to cash and credit purchases
are recorded here. The shortcut key for purchase
voucher is F9.
E.g :
o Goods purchased from Raman on credit basis.

DEBIT NOTE: (Purchase returns)


When goods are returned to the suppliers due to
defective quality or not as per the terms of
purchase, it is called as purchase return.
The shortcut key used for debit note is Ctrl F9.
E.g.
o Goods purchased from Raman are returned.

JOURNAL VOUCHER:
Journal entries are used in instances where the
company requires adjusting the debit and credit
amounts without involving the cash or bank
accounts. Future payments and revenues. The
shortcut to key used for journal voucher is F7.
E.g:
o Stationery charges payable to Raj.

CREATION OF A COMPANY
The first step towards understanding Tally is
to create a company in Tally.
We can create it by using the company
creation screen.
Go to Gateway of Tally> Company Info>Create
company.
The shortcut key used to create a company is
Alt F3
Below you can find the information given in
the Company Creation Screen.

FIELDS IN COMPANY
CREATION

Directory : The data path where you want


the company to be created is specified in the
directory field.
Name: Enter the name of the company whose
books are being opened. E.g. : Clients
Company name.
Mailing name & Address: In addition to the
Company Name, Tally provides the facility to
enter the Mailing Name field. It displays the
Company Name by default. You may change it
as required.

CONTI.

State: You can select the appropriate state


from the predefined list.
PIN Code: Specify the PIN Code (Postal Index
Number) of the specified address.
Telephone: Enter the Telephone number.
E-mail Address : Enter the E-mail address
that will be used to e-mail documents, reports
and data from Tally.
Currency : Currency symbol is the symbol of
the base currency, that is, the currency that
will be used to maintain the books of account.

CREATION OF LEDGER

Ledger is the main or the principal book of


account.

It is collection of all the accounts debited


and credited in the journal and subsidiary
books.
Go to Gateway of Tally> Accounts info >
Ledger.

We can find a list of existing groups already


created..

VOUCHER ENTRY

Tally is pre-defined with a variety of


accounting vouchers, each designed to
perform a specific job.

Go to Gateway of Tally> Accounting Vouchers.


Below you can find the method of creating
different vouchers in detail

REPORTS GENERATED

The reports generated using Tally are

Trial balance
Day books
Accounts Books
Statement of accounts
Profit and Loss account

Go to Gateway of Tally> Display

Now we can check any report that is needed.

CONCLUSION

Thus Tally is considered to be a simplest and


easy way of accounting in the present world.

It is the fastest and reliable accounting


software that meets all the accounting
requirements.

TALLY - THE POWER OF SIMPLICITY