E-Learning Site: 2014

Tally ERP 9 Notes full for basic level Tally ERP 9 Notes

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Course content:-

Introduction of Tally

Installation

Company Info

Gateway of Tally

Point of Sale (POS)

Pay Roll

Tax Deducted at Source (TDS)

VAT

Discount

Interest

Rate of Exchange

Production

1.Introduction of Tally:-

Tally is an accounting software which is developed by tally solution private limited India, Banglore. This software company makes business software. Some of their packages are for Accounting, Inventories & Payroll. Tally ERP 9 is a business software. In the current time that is used in 88 countries including the United Kingdom & middle east. This software manually used for different places such as NGO, INGO, Bank, School, College etc. In this software we can create vouchers, single user, multi-user, VAT, TDS, TCS, CST, ST, POS, FBT, BOM, discount, interest, Payroll & job costing etc.

Different Between Tally 7.2 & Tally ERP 9:-

Tally 7.2:- There is not good editable remote access, control centre, supported centre for manufacturers & reports like excess, computation, report, daily stock register, advance TDS & ST.
Tally ERP 9:- There is additional features of remote access, control centre, support centre for manufacturers & reports like excess, computation report, daily stock register, advance TDS & ST.
Types of Account:-

Personal Account:-

Rules:-

Debit: The receiver

Credit: The giver

Real Account:-

Rules:-

Debit: What comes in

Credit: What goes out

Nominal Account:-

Rules:-

Debit: All expenses & losses

Credit: All income & gains

Some Exercises:-

Ram sold goods to Sita Rs. 250.

Ram sold goods on cash Rs. 250

Paid into bank Rs. 7,000.

Bought goods for cash Rs. 500.

Cash draw from bank for office use Rs. 2000.

Brought goods from Shyam on credit Rs. 1,500/-

Goods sold on cash Rs. 5,000

Rent paid Rs. 3,000

Commission received Rs. 5,000.

Paid in advance insurance Rs. 10,000.

Purchase goods from Hari for Rs. 5,000 and made partial payment Rs. 3,000/-

Nepal Rastra Bank transfer cash to Bank of Kathmandu Rs. 50,000.

A & B opened a current bank account in the BOK cash Rs. 5,00,000.

Bhanu & Ram invested capital in share Rs. 1,00,000/- & 6,00,000/- respectively.

Some Terms:-

Profit & Loss A/c:-

Calculation of net profit & net loss of a business.

Bank overdraft:-

Loan that is given by bank to the trusted person or organization for taking out extra money from bank which he/she don't have in his/her account.

Current Assets:-

Assets that can be converted into money which are available for the short period of time.

Direct Expenses:-

Direct expenses are those type of expenses which directly effect our company or organisation. this type of expenses is necessary to pay within a time this otherwise loss for company. Ex. wages for factory, machine repair, freight inward.

Indirect Expenses:-

Indirect expenses are those expenses which directly not effect on company or organisation. it may be delay to pay.
salary,rent,conveyance etc. is an example of indirect exps.
Source of answer: Click here

Direct Income:-

Direct income is one which is earned directly by way of bussiness Activites .e.g. For trading companies-sale of goods, sale of materials & for construction companies-sale of flats, sale of plots, contract income received etc.

Indirect Incomes:-

Indirect incomes is one which is earned by way of Non- Bussienss activeties i.e Sale of Old News papeers, Sale of cartan boxes, miscellaneous incomes etc.
source of answer: click here

How to create company in Tally ERP 9?

Go to Gateway of Tally.

Press Alt+F3 to go to company info.

Go to create.

Company creation screen is appeared.

Fill the information of company you want to create.

How to delete or modify company?

Go to Gateway of Tally.

Press Alt+F3.

Go to Alter.

Select company which you want to alter or delete.

Then Press Alt+D to delete company or alter the value you want to change.

<<< Gateway of Tally>>>

Account Info

Inventory Info

Accounting Voucher

Inventory Voucher

Account Info:-

Account info is the starting menu of Gateway of Tally which provides accounting information about the company.
There are 7 topics under Account Info. They are:-

Groups

Ledgers

Cost Catagories

Cost Center

Budgets

Currency

Voucher Type

Groups:-

There are 28 pre-defined groups in Tally ERP9 out of which 15 are primary groups & 13 are sub groups.Out of the 15 Primary Groups, 9 Primary Groups appear in the Balance Sheet which are Capital in nature and 6 Primary Groups appear under Profit & Loss Account which are Revenue in nature. 13 Sub Groups are classified under the 15 Primary Groups and they appear in the Balance Sheet.The Primary Group cannot be deleted, however, it can be renamed which is not suggested.

How to create group?

Go to Gateway of Tally.

Go to Account Info.

Go to group.

Go to create.

Group creation screen apppears.

E.g.

Note: If you want to create group under primary than you have to choose the nature of group which are: 1. Expenses 2. incomes 3. Assets 4. Liabilities

Some list of Ledgers & their Groups:

Ledgers	Groups
Capital A/c	Capital A/c
Sales A/c	Sales A/c
TDS on service a/c	Duties and taxes
Furniture a/c	Fixed assets
Computer a/c	Fixed assets
NR bank a/c	Bank a/c
Purchase return a/c	Purchase a/c
Carriage inward	Direct expenses
Factory lighting	Direct Expenses
Coal, Gas & water of Facory	Direct Expenses
Expenses on Purchase	Direct Expenses
Factory Expenses	Direct Expenses
Freight Inward	Direct Expenses
Manufacturing expenses	Direct Expenses
Production Wages	Direct Expenses
Ex-labour Wages	Direct expenses
Royality	Direct Expenses
Advertisement	Indirect Expenses
Bank charges	Indirect Expenses
Audit Fees	Indirect Expenses
Bad debts	Indirect Expenses
Car expenses	Indirect Expenses
Car repair	Indirect Expenses
Carriage on sales(Carriage outward)	Indirect Expenses
Coffee Expenses	Indirect Expenses
Commission given	Indirect Expenses
Depreciation	Indirect Expenses
Discount given	Indirect Expenses
Fire Insurance	Indirect Expenses
Interest Paid	Indirect Expenses
Interest on loan	Indirect Expenses
Forex gain loss	Indirect Expenses
general Expenses	Indirect Expenses
Godown Rent	Indirect Expenses
loss in joint venture	Indirect Expenses
Miscellaneous expenses	Indirect Expenses
Packing expenses	Indirect Expenses
Shop Expenses	Indirect Expenses
Telephone Expenses	Indirect Expenses
Charity	Indirect Expenses
Apprentice Premium	Direct Incomes
Factory Incomes	Direct Incomes
Bad debt received	Indirect Incomes
Commission received	Indirect Incomes
Discount received	Indirect Incomes
Fitting charges received	Indirect Incomes
Income on assets	Indirect Incomes
Insurance claim	Indirect Incomes
Interest received	Indirect Incomes
Miscellaneous Income	Indirect Incomes
Profit on consignment	Indirect Incomes
Discount received	Indirect Incomes
Rent Received	Indirect Incomes
long term secured loan	Secured loans
loan from director	Unsecured loan
Accrued income	Current Assets
Bill receivable	Current Assets
Bills receivable	Current Assets
Bonds	Current Assets
Consignment stock	Current Assets
Prepaid expenses	Current Assets
VAT payable	Current Liabilities
Deferred incomes	Current Liabilities
Depreciation reserve	Current Liabilities
General reserve	Current Liabilities
Rent payable	Current Liabilities
Salary payable	Current Liabilities
Provision for office expenses	Current Liabilities
Furniture	Fixed Assets
Building	Fixed Assets
Factory	Fixed Assets
Farm house	Fixed Assets
Land	Fixed Assets
Goodwill	Fixed Assets
Bank balance	Bank Account
Cash at bank	Bank Account
Sales return	Sales Account
Goods send on consignment	Sales Account
Kathmandu branch	Branch & Division
Dhangadhi Branch	Branch & Division
Bank Loan	Loan(liabilities)
Loan on Mortgage	Loan(liabilities)
Invest in government bond	Investment
long term deposit a/c	Investment
Mutual fund	Investment
Shares/bonds	Investment
Return inward	Sales Account
Return outward	Purchase Account
Bank Overdraft	Bank Overdraft
Hypothecation loan A/c	Bank Overdraf
Capital reserve	Reserve & Surplus
General reserve	Reserve & Surplus
Closing stock	Stock in Hand
Opening stock	Stock in Hand
Difference in trial balance	Suspense Account
Input VAT 4%, 13%	Output VAT 4%, 13%
Regional Trade Tax	Duties & Taxes

Ledgers:-

Ledger is a actual account head to which you identify a transaction & must be used in all Accounting Vouchers. Without a ledger we cannot record any transictions. All ledgers have to be classified into groups. Classification of ledgers to the appropriate groups is very important. These groups and ledgers are classified to Profit & loss or balance sheet.

How to create ledger?

Go to Gateway of Tally.
Go to Account Info.
Go to Ledgers.
Go to create
Make Ledger by specifying it's Group similar like below:

How to create multiple Ledgers?

Go to Gateway of Tally.
Go to Account Info.
Go to Ledgers.
Go to Multi-Ledger creation screen.
Go to create.

Cost Catagories:-

This is used to make the group of inventories available in a factory or company.
Such as: executive departments, branches, stationary etc are used as cost catagories.

Cost Centers:-

In this option we create sub-group under the group created in cost catagories. We can also make cost centers under primary.
E.g. pen, file, paper under stationery
This is used also for job costings.