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22 views22 pages

Tally

Uploaded by

videouploader.furri.5893
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PDF, TXT or read online on Scribd
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Financial Accounting – Tally Prime

Introduction of
Accounting
Accounting:-

Accounting is a Process of identifying, recording, summarizing and

reporting economic information to decision makers in the form of

financial statements.
Difference between Manual Accounting
and Computerized Accounting
Basis Manual Computerized

Meaning It is a system of accounting It is an accounting system that


that uses physical registers uses an accounting software for
and accounts book for keeping recording financial transactions
financial records electronically

Recording Recording is possible through Data content is recorded in


book of original entry customized database

Calculation All the calculation is Only data input is required, the


performed manually calculations are performed by
computer system
Speed Slow Comparatively faster

Backup Not Possible Possible


Trial Balance Prepared when Instant trial balance is
necessary provided

Financial It is prepared at the It is generated


Statement end of the period or automatically which can
quarter be accessed at the click
of button
Types of Accounts
➢Personal Accounts

➢Real Accounts

➢Nominal Accounts
Golden Rules of Accounting
All the business transactions are recorded on the
basis of the following rules.
1. Personal : Debit the receiver, Credit the giver
2. Real : Debit what comes in, Credit what goes
out
3. Nominal : Debit all expenses and losses, Credit
all incomes and gains.
The Accounting
Cycle
Versions of Tally
• Tally 4.5 – 1990 – MS DoS
• Tally 5.4 – 1996 – GUI
• Tally 6.3 – 2001 – VAT
• Tally 7.2 – 2005 – VAT rules statewise
• Tally 8.1 – PoS and Payroll
• Tally 9 – 2006 – TDS
• Tally ERP 9 – 2009- GST
• Tally Prime – 2020 – Technology Advancement
Tally Prime

Accounts Inventory Taxation

ACCOUNTS ONLY

ACCOUNTS WITH INVENTORY

ACCOUNTS WITH INVENTORY + TAXATION (GST)

ACCOUNTS + TAXATION (GST)


Steps to learn Tally Prime
Introduction to Tally Prime
• Tally Prime is world’s fastest and most powerful
concurrent Multi-lingual business Accounting software.

• Tally, designed exclusively to meet the needs of small and


medium business, which is a fully integrated, affordable
and highly reliable software.

• It facilitates accurate and up to date business information


at our fingertips anywhere
• It helps in managing accounts, inventory,
banking, taxation, payroll and much more.
A Brief History of Tally Software

➢Shri S.S Goenka is the founder of Tally


Software in 1986.
➢Tally Solutions Pvt Ltd is a Bangalore- based
software company that currently sells into
more than 100 countries beyond its native
India, including the UK, Bangladesh and the
Middle East.
Benefits of Tally
• Speed
• Accuracy
• Cost
• Up to date information
• Efficiency
• Reporting
• Tax
• Legibility
Advantages of Tally
• Enables effortlessness data movements
• Less expenses on data collection and data transfer of
files
• Fast data files transactions
• Human errors is eliminated
• Easy and fast access to documents
• Better sales promotion
• Industry specific software side
• Web enabled services
• Easy to handle
• Enhanced Security
Features of Tally
• Invoicing and Accounting
• Inventory Management
• Insightful Business Reports
• GST/Taxation
• Credit and Cash Flow Management
• Multi-task Capabilities
• Banking
• Secure Data
Functions of Tally
➢General Ledger
➢Account Payable
➢Account Receivable
➢Billing
➢Stock
➢Purchase Order
➢Sales Order
➢Booking
• Purchase
• Sales
• Capital
• Reserves
• Current Asset
• Current Liability
• Fixed Asset
• Loans/Liabilities
Company creation
Enable GST
Accounts Creation
There are 28 groups → 15 main and 13 sub group
Inventory
Stock Group (Mobile , TV, WM)
Units of Measure – There are two types : Simple,
Compound
Stock Items -
Voucher creation – Journal Entries
• Cash and Profit and Loss A/c are called as
Reserved Ledger A/c

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