TALLY INTRODUCTION
Manual Accounts mantaining involves lot of labour and time and even after, the result may not be up to expectations. Working in Tally, which is an Accounting Software, provides a coplete solution to the problems of our manual book-keeping and makes the job faster, perfect and elaborative. Moreover, it gives a vast and advanced information about our company. It is a fully secured and reliable Accounting Program.
Tally is one of the Top most Accounting Programs which was developed by Tally Solutions Pvt Ltd., Bangalore. Tally is a User-friendly package having various versions viz. Tally 4.5, Tally 5.4, Tally 6.3, Tally 7.2, Tally 8.1 and the latest Tally 9. Tally 5.4, Tally 6.3, Tally 7.2, Tally 8.1, Tally 9 and Tally ERP9 are working under Windows environment.
HOW TO START
From Desktop, click ‘START’, point to ‘PROGRAMS’ and from the Sub-menu, click Tally.ERP 9. Alternatively, double-click Tally.ERP 9 shortcut from Desktop. Tally 9 logo will be shown on the screen and we have to wait till the program loaded.
The first display we get is ‘Company Info’, which contains the options, ‘Select Company, Create Company, Backup, Restore, Quit, etc’.
THREE STEPS
After opening Tally, we follow three steps:
1. Company creation.
2. Ledger (Master) Creation.
3. Voucher Posting.
COMPANY CREATION
From ‘Company Info’, activate ‘Create company’ option by either double-clicking the specified option or by pressing highlighted letter which is ‘C’ or bring the cursor and press <ENTER>
Steps to create a Company:
1. Enter into ‘COMPANY INFO’.
2. Move the cursor to create and enter. Alternatively, press C for CREATE.
3. Fill particulars called for.
4. Accept by pressing ‘Y’.
Under ‘Company Creation’, give the company’s particulars as needed like Name, Address, IT, Sales Tax Numbers, etc. Give Rs. (or any other currency symbol) against ‘Currency Symbol’, Select type of company as Accounts Only or Accounts with Inventory under ‘Maintain’. Financial year always starts from April 1st and ends on 31st March. Even if we start our company in the middle of the year give 1st April with year under ‘Financial year from’. Next, under ‘Books Beginning from’ type the first transaction date.
CURRENCY SYMBOL
We mention the Base Currency Information here, in which our Account would be maintained. The Base Currency in our case is Rs. which will be used in our Reports.
FINANCIAL YEAR FROM
Among three forms of years, Calendar year commences from January first and spreads up to December 31st. Academic year is from first June to May 31st and financial year starts on First April and ends on 31st March. Give First April with year as given in the Exercise.
TALLY VAULT
Tally Vault is an advanced security system which converts normally accessible Tally information into unrecognisable information thereby safeguarding our data from others.
SECURITY CONTROL
It is the regular security feature which avoids the unauthorised access by others without your knowledge. The Administrator can create many user IDs and Passwords. Give the Name of Administrator as ‘National’ andthe password twice as ‘abc’ for an example. User IDs may be of two types; viz. Owner and Data Entry. Owner ID will have full access to all reports whereas Data Entry ID will have limited access as fixed by the owner ID. Use Gateway of Tally --> Click Create Company (F3) --> Security Control --> ’Users and Passwords’ and ‘Types of Security’.
USE TALLY AUDIT FEATURE?
Type ‘Yes’ to activate this which enables the Auditor to track changes that are more than 30 days old. This feature is discussed again in the coming pages.
FORMAL NAME
Formal Name is the full name of the currency symbol specified above. Type Indian Rupees for Rs.
SELECT COMPANY
After completing all the particulars, ‘Accept’ it. Our company will automatically be loaded. Next time, when we like to open the company, use the ‘Select Company’ option to work with the company.
ALTER A COMPANY
To alter the Company Information, follow the steps given below:
1. Gateway of Tally
2. Click CMP INFO (F3)
3. Alter
GATEWAY OF TALLY
The first display we get after entering into our Company is Gateway of Tally. As its name suggests it is the main display to the Company. Gateway of Tally shows two parts. The left side shows the ‘Current Period’ and ‘Current Date’. It also shows the ‘Name of the Company’ currently working. Right side shows the ‘Masters’, ‘Transactions/Vouchers’, Reports’, etc. and further right with Various Button having various commands
MASTER CREATION
We have to create Masters (Ledgers) before entering the voucher entries.
SINGLE LEDGER CREATION
Ledger creations can be made either by ‘Single Ledger’ mode or ‘Multiple Ledger’ mode. Under Single Ledger, Ledgers are created one by one by giving all the particulars and importantly the Group under which we are going to place the Ledger. Type the opening balance of the Ledger and specify whether it is Dr or Cr balance. Finally accept to save the Ledger creation.
If Opening Balances are entered, ensure that the Total of Opening Balances as shown in the Right Top Corner are tallied.
Steps to create Ledger Accounts:
The following steps to be followed to create Ledger in Single Ledger Mode:
1. Select your Company
2. Enter ACCOUNTS INFO
3. LEDGER A/Cs
4. Select CREATE.
5. Fill particulars called for.
6. Place the Ledger a/c under proper GROUP.
7. Accept.
MULTIPLE LEDGER CREATION
All Ledgers are created in a Single Display by giving all the particulars called for. Select ‘All Items’ under ‘Under Group’. Enter the ‘Name of the Ledger’, ‘Under’, ‘opening Balance’, ‘Dr/Cr’, etc. and at last ‘Accept’ them. Multiple Ledgers or Groups can be created using ‘Multiple’ option in single display (Gateway of Tally --> Accounts Info --> Ledgers/Groups --> Multiple)
DEFAULT LEDGER
Tally allows you to create all Ledgers except two Ledgers viz. Cash and Profit and Loss accounts, as they are automatically created by Tally.
CREATE LEDGER WHILE POSTING VOUCHER
Quick Ledgers may be created while posting a voucher by following the steps as below:
1. Press Alt+C while the cursor is on the line.
2. Create a new Ledger. 3. Accept.
CREATE GROUP WHILE LEDGER CREATION
Similarly, quick Groups may be created during voucher posting by following the steps given below:
1. Press Alt+C while the cursor is on the Group line.
2. Create a new Group.
3. Accept.
ALTER LEDGER ACCOUNTS
After creation of Ledgers (Masters), they can be altered by following the steps given below:
1. Enter GATEWAY OF TALLY
2. Select ACCOUNTS INFO
3. Select LEDGER A/cs
4. Select ALTER
5. Alter as you wish
6. Accept.
VOUCHER POSTING
After creation of necessary Ledgers, we can start our day today Voucher entry postings by following the steps:
1. Select ACCOUNTING VOUCHERS from GATEWAY OF TALLY
2. Press F2 to change date
3. Select the Voucher Type
4. Post the voucher with narration
5. Accept.