Getting Started with T A L L Y - Hi friends, I hope you are all in good healthZoneupdate, In the article you are reading this time with the title Getting Started with T A L L Y, We have prepared this article well for you to read and take information in it. hopefully the contents of the post Artikel Free B.Com Notes, Artikel Mitesh Kadakia, Artikel Mitesh Sir, Artikel Tally., what we write you can understand. ok, happy reading.

Title : Getting Started with T A L L Y

link : Getting Started with T A L L Y

Getting Started with T A L L Y

GETTING STARTED WITH TALLY

INTRODUCTIONS

            Tally is a popular financial accounts software package.  This software is used to store and maintain daily business transactions like purchases, sales, receipts, payments, purchase  returns and sales  returns, deposits, withdrawals etc.,

            Tally is the number are financial accounting package in India  and is also used in abroad. With the help of tally use would be the owner,  financial controller, accounting manager, auditor, anyone connected with account.  The Fundamentals behind tally are very much essential or enough to warn accounting.

            In this accounting is a online activity in business firms.  In computerized, accounting once the voucher entry is completed, this software is ready to generate all statements and  reports.

            Tally screen is broadly classified into five Moyer areas.  They are.

i).  Product info: It is also called as “title area’ or “top area” .  It contains version number i.e., software version release details  current data, the name of the day, date, month and year is displayed in DD: MM: YY on the left hand side and it also shows system time as MM:MM:SS.

ii). Current Status: Is shows the current period selected  through  Alt +F₂ function period current date is set through F₂  data button and the company you are currently working can be collected i.e., active company in all the companies.

iii).Tally Menu: It is also called as Tally Main menu.  It shows the list of menu options i.e. menu, item, select a menu item to make a task.

iv) Button Bar:It consists of numerous buttons which appears at the right of the screen button provide quick access to different options.  Which varies from screen to screen.  Active button`s are shown in solid colour, inactive buttons are grey in colour.

v) Calculator: It appears at the bottom of the screen.  Press Ctrl +N (or) Alt + c to activate the calculator.  Functionality make the calculations and press enter to get.

F U N C T I O N   K E  Y S

S.No.      Keys                            Functionality                  

1.                F ₁                            To select a company, to shut a Company

2.                F ₂                            To change the current date or period.

3.                F ₃                            To create a Company.

4.                F ₄                            To back up,  Contra entry 
5.                F ₅                             Payment Voucher.

6.                F₆                              Receipt Voucher.

7.                F ₇                             Journal Voucher.

8.                F ₈                             Sales Voucher

9.                F ₉                             Purchase Voucher.

10.              F ₁₀                           Memo`s Voucher

11.              F ₁₁                           Features or select the function

12.              F₁₂                            Configuration.

Creation of Ledger

The ledger in Tally can be created by using the following path-

Path:-

Gateway of Tally ......→ Accounts Info........→ Ledger account ....... Create.

All the Ledgers created in Tally needs to be sorted under a certain Group. Many groups are already present in Tally, in case if you want a new group you can also create a new group which is very similar to Ledger Creation.

Here is the list of few accounts that would be normally created and their groups –

Trading Account Items:-

Sr. No.	Name of the Ledger	Under Group
1	Opening Stock	Stock-in-hand
2	Closing Stock	Stock-in hand
3	Freight	Direct Expense
4	Cartage	Direct Expense
5	Carriage Inwards	Direct Expense
6	Factory  Expenses	Direct Expense
7	Marine Power	Direct Expense
8	Coal and Fuel	Direct Expense
9	Oil, Water and Gas	Direct Expense
10	Duty and Clearing charges	Direct Expense
11	Factory (all Expenses)	Direct Expense
12	Productive wages	Direct Expense
13	Wages and Salaries	Direct Expense
14	Purchases	Purchases
15	Sales	Sales
16	Loss by fire	Direct
17	Trading Expenses	Direct Expense
18	Manufacturing Expenses	Direct Expense

Profit and Loss Account Items

Sr. No.	Name of the Ledger	Under Group
1	Management Expenses	Indirect Expenses
2	Salary	Indirect Expenses
3	Office Salary	Indirect Expenses
4	Salaries and Wages	Indirect Expenses
5	Office Rent, rotes & taxes	Indirect Expenses
6	Office Lighting	Indirect Expenses
7	Insurance	Indirect Expenses
8	Printing and Stationery	Indirect Expenses
9	Postage, Telegram, Telephone	Indirect Expenses
10	Audit Fees	Indirect Expenses
11	Legal Charges	Indirect Expenses
12	Bank Charges	Indirect Expenses
13	Sundry Expenses	Indirect Expenses
14	General Expenses	Indirect Expenses
15	Unproductive Expenses	Indirect Expenses
16	Miscellaneous Expenses	Indirect Expenses
17	Selling & Distribution	Indirect Expenses
18	Salesmen Commission	Indirect Expenses
19	Carriage Outwards	Indirect Expenses
20	Commission on Sales	Indirect Expenses
21	Discount Allowed	Indirect Expenses
22	Commission Allowed	Indirect Expenses
23	Salaries to Sales	Indirect Expenses
24	Establishment Expenses	Indirect Expenses
25	Loss on Sale of Fire	Indirect Expenses
26	Maintenance	Indirect Expenses
27	Depreciation on Fixed Assets	Indirect Expenses
28	Provision for Discount on debtors.	Indirect Expenses
29	Provision for doubtful debts	Indirect Expenses
30	Subscription	Indirect Expenses
31	Warehouse Rent, Advertisement	Indirect Expenses
32	Free Samples	Indirect Expenses
33	Financial Expenses	Indirect Expenses
34	Interest on Capital, Loan	Indirect Expenses
35	Interest Received	Indirect Income
36	Discount Received	Indirect Income
37	Commission, Rebate Received	Indirect Income
38	Provision for bad debts Recovered	Indirect Income
39	Interest on Bank overdraft	Indirect Expenses
40	Profit on Sale of asset	Indirect Income
41	Provision for discount on creditors.	Indirect Income
42	Interest on Investment	Indirect Income
43	Dividend received	Indirect Income
44	Apprentice Premium	Indirect Income
45	Interest on drawings	Indirect Income
46	Miscellaneous Receipts	Indirect Income
47	Salesmen Salaries	Indirect Expenses

Balance Sheet Items-

Liabilities

Sr. No.	Name of the Ledger	Under Group
1	Capital	Capital  (Cr)
2	Drawings	Capital  (Dr)
3	Net Profits	Capital  (Cr)
4	Income Tax	Capital  (Dr)
5	Bank overdraft	Bank Overdraft  Account
6	Bills payable	Current Liability
7	Outstanding Expenses	Current Liability
8	Income Received in advance (or)  Prepaid Income	Current Liability
9	Sales Tax	Current Liability
10	Excise Duty	Current Liability
11	Provident Fund	Current Liability
12	Sundry Creditors	Sundry  Creditor
13	Loan on mortgage	Loan Liability
14	Loan from Bank	Loan Liability
15	Reserve or Reserve Fund	Reserve & Surplus
16	Party from whom purchase goods on credit	Sundry  Creditors

Assets Items –

Sr. No.	Name of the Ledger	Under Group
1	Bank	Bank Account
2	Investment	Investment
3	Bills Receivable	Current Asset
4	Closing Stock	Current Asset
5	Prepaid Expenses	Current Asset
6	Accrued Income or Income to be Received	Sundry Debtors  (C.A.)
7	Reimbursement of Insurance Claim	Sundry Debtors
8	Insurance Claim receivable	Sundry Debtors
9	{arty to whom goods sold on credit	Sundry Debtors
10	Plant & machinery	Fixed Assets
11	Land & Buildings	Fixed Assets
12	Loose Tools	Fixed Assets
13	Freehold property	Fixed Assets
14	Freehold Premises	Fixed Assets
15	Sales Van, Patents	Fixed Assets
16	Copy rights	Fixed Assets
17	Trademarks	Fixed Assets
18	Goodwill	Fixed Assets
19	Furniture & Fittings	Fixed Assets

Groups

There are 28 pre-defined groups in Tally software out of which 15 are primary groups and 13 are sub-groups.

(1)PRIMARY GROUPS:-Primary group is a main group.

EXAMPLE:-CURRENT ASSETS.

(2)SUB GROUPS:-Sub group is a part of main group.

EXAMPLE:-SUNDRY DEBTORS.

Sl.No.	PRIMARY GROUP	Sl. No.	SUB-GROUPS
1	BRANCH/DIVISIONS	1	BANK ACCOUNTS(CURRENT ASSET)
2	CAPITAL ACCOUNTS	2	BANK OVERDRAFT ACCOUNTS(LOANS)
3	CURRENT ASSETS	3	CASH IN HAND(CURRENT ASSET)
4	CURRENT LIABILITIES	4	DEPOSITS(CURRENT ASSET)
5	DIRECT EXPENSES	5	DUTIES AND TAXES(CURRENT LIABILITY)
6	DIRECT INCOMES	6	LOANS AND ADVANCES(CURRENT ASSET)
7	FIXED ASSETS	7	PROVISIONS(CURRENT LIABILITY)
8	INDIRECT EXPENSES	8	RESERVES AND SURPLUS(CAPITAL)
9	INDIRECT INCOMES	9	SECURED LOANS(LOANS)
10	INVESTMENTS	10	STOCK IN HAND(CURRENT ASSET)
11	LOANS(LIABILITY)	11	SUNDRY CREDITORS(CURRENT LIABILITY
12	MISCELLANOUS EXPENSES(ASSET)	12	SUNDRY DEBTORS(CURRENT ASSET)
13	PURCHASE ACCOUNTS	13	UNSECURED LOANS(LOANS)
14	SALES ACCOUNTS
15	SUSPENSE ACCOUNTS

 Example :  

(1) Radha & Co Started Business With ₹12,00,000    

(2) Purchase Machinery For Cash ₹1,25,000

(3) Purchase Furniture ₹ 55,000

(4) Nokia Mobile Service Charges Received ₹ 1,10,000

(5) LG Mobile Service Charges Received ₹ 80,000

(6)Rent Paid ₹ 15,000

(7)Current Bill Paid ₹17,500

(8)Max Mobile Service Charges Received ₹75,000

(9)Micromax Mobile Service Charges Received ₹45,000

(10)Salaries Paid ₹55,000

(11)Sony Moibile Service Charges Received ₹78,000

(12)Samsung Mobile Service Charges Received ₹35,000

(13)Telephone Charges Received ₹ 7,800

(14)Other Expenses ₹ 6,000 

That's the article Getting Started with T A L L Y

That's it for the article Getting Started with T A L L Y this time, hopefully can be useful for all of you. okay, see you in another article post.

You are now reading the article Getting Started with T A L L Y with link address https://zone-update.blogspot.com/2018/07/getting-started-with-t-l-l-y.html