6411_COMPUTERISED ACCOUNTING PRACTICAL.ppt

ally is a popular accounting software that is widely used for financial management and bookkeeping. It's known for its user-friendly interface and robust features, which cater to businesses of various sizes and industries. Here are some key aspects of Tally:Accounting Features: Tally offers comprehensive accounting capabilities, including ledger management, accounts payable and receivable, balance sheet, profit and loss statement, and more. It supports multiple currencies and allows for easy consolidation of financial statements.

Inventory Management: It provides tools for inventory tracking, stock valuation, batch management, and order processing. This makes it suitable for businesses that deal with goods and need efficient inventory management.Tally supports various taxation needs, including GST (Goods and Services Tax) in India and other local taxes in different countries. It helps in tax computation, filing returns, and compliance with tax regulations.

Banking: Users can manage bank transactions, reconcile bank statements, and generate bank reports directly within Tally. This simplifies bank-related accounting tasks and improves accuracy.

Reporting: Tally offers customizable reports such as cash flow statements, fund flow statements, and ageing analysis of accounts receivable/payable. These reports help businesses gain insights into their financial health and make informed decisions.ecurity and Data Management: It provides data security features like user access controls, data encryption, and backup options to ensure the safety and integrity of financial data.

Integration: Tally can integrate with other business software and systems, facilitating seamless data flow and reducing manual data entry errors.

Ease of Use: One of Tally's strengths is its intuitive user interface, which makes it accessible even to users with limited accounting knowledge. It offers shortcut keys and customizable workflows to improve productivity.

Overall, Tally is favored by many businesses for its reliability, scalability, and ability to streamline accounting processes, making it a valuable tool for financial management.n Tally, tags are used to classify or categorize transactions or master records based on specific criteria. Tags provide flexibility in organizing and analyzing data beyond traditional accounting dimensions.

1. COMPUTERISED ACCOUNTING
PRACTICAL (20UCO5SE3AP)
Presented by
Dr. K. RIYAZ AHAMED
Assistant Professor of Commerce
Jamal Mohamed College (Autonomous)
Tiruchirappalli-620 020.

2. Objectives of this session
Introduction
General Features of Tally
Getting Started with Tally
Create Company
Company Info
Role of Buttons

3. Introduction
You have already known how to maintain
accounts manually.
Tally is an accounting package which is used
for maintaining your accounts electronically.

4. Versions of Tally
Tally4.5wasthefirstversionofTally.Itwas
releasedin1990.Thissoftwareisbasedon
MS-Dos.Thisprogramwasverylightweight
andveryfastinoperation.
Tally5.4wasthesecondversionofTally.
Itwasreleasedin1996.Itwasagraphicinterface
version.

5. Versions of Tally
Tally 6.3was the third version of Tally. It was
released in2001. This version was window
based. It supports printing and implementing
with VAT (Value Added Tax)
Tally 7.2was the next version of Tally. It was
released in2005. It was added with new features
of the Statutory complimentary version and
VAT rules as par state wise.

6. Versions of Tally
Tally8.1itwasdevelopedwithanewdata
structure.Itwasaddedwithnewfeaturesof
PointofSale(POS)andPayroll.
Tally9itwasreleasedin2006.Thisversionwas
releasedduetobugsanderrors.Thisversionhas
maximum featuressuchasPayroll,
TaxDeductedatSource(TDS),FringeBenefit
Tax(FBT)andElectronicFilingofReturnsof
TaxDeductedatSource(E-TDS)filling,etc.

7. Versions of Tally
Tally.ERP9itwasreleasedin2009.
TallyERP9packageisofferingmaximum
featuresforsmalltolargebusinessindustries.
Italsoupdateswithnewfeaturesof
Goods&ServicesTax(GST)likeremoteaccess,
muchpowerfuldatasecurity,tally.netandmore.

8. Versions of Tally
TallyPrime:ThenewTallyversionofTally
ERP9iscalledTallyPrime.TheTallyPrime
launchdatewasNovember9th2020.Tally
Primeisanadvancedbusinessaccounting
software.TallyPrimefacilitatesimproved
problemdetectionandpowerfulcorrection
capabilities.

9. Versions of Tally
TallyPrimeisacompletebusinessmanagement
softwareforsmallandmediumbusiness.
TallyPrimehelpsyoumanageAccounting,
Inventory,Banking,Taxation,Banking,Payroll
andmuchmoretogetridofcomplexities,and
inturn,focusonbusinessgrowth.

10. General Features of Tally
It maintains all the primary books of accounts,
like Cash Book and Bank Book.
Tally maintains all registers like Purchase
Register, Sales Registers and Journal Registers.
Tally maintains all statement of accounts like
Balance Sheet, Profit and Loss and Trial
Balance, Cash Flow and Stock Statement.

11. General Features of Tally
ATallycanmaintain‘OutstandingReports’.
Itmayprovidecompletebill-wiseinformationof
amountsreceivableaswellaspayableeither
party-wiseorgroup-wise.
Itcanprovideareportforaparticulardateor
reportsforanyrangeofdates.
ItprovidesthefacilityofBankReconciliation.
continue …

12. Getting Started with Tally
On the home page of Tally screen ‘Create Company’
option is available under the title ‘Company Info’.

13. Tally Screen
Title Area
Horizontal
Buttom Bar
Main Area
Bottom Pane
Calcultaor
Area
Close Button

14. Tally Screen Details
TheGateway of Tallyscreen is separated into
Six sections
Title Area
Horizontal Button Bar,
Main Area (Ctrl+M),
Calculator Area (Ctrl+N),
Button Barand
Bottom Pane.

15. Create Company
On the home page of Tally screen ‘Create Company’
option is available under the title ‘Company Info’.
To create the company you
would click at ‘Create
Company’ option
A new window will
appear with various
items on the screen.

16. Create Company
When you click at ‘Create Company’ option, a new
window will appear with various items on the
screen.
Some important ones are discussed below:
Name:Type the name of the company you want to create.
Mailing Name:The mailing name by default is the same as
the name mentioned above. You can type some other mailing
name of the company.
Address:Type mailing address of the company. There is no
limit on the number if lines used.
continue …

17. Create Company
Maintain:In Tally accounts can be maintained in a two
different ways:
Accounts Only
Accounts-with-inventory
Use Security Control:This option provides security control
to your company accounts by offering a comprehensive pass-
based access control.
After filling all the required information press enter. A new
window will appear asking for confirmation.
For acceptance press ‘Y’.
continue …

18. Create Company
The next window is as follow :
continue …

19. Company Info
Onceyougetyourcompanycreated,theheading‘Company
Info’hasacontentofsomenewoptions.Theseoptions
areasfollows:
Select Company:This option permits you to load any
company, which was created earlier, from the list of
companies listed.
Shut Company:It allows you to exit, from the companies not
in use, from the dialog box.
Create Company:(same as done above under same heading).

20. Company Info
Alter:It allows you to change the information of an existing
company filled at the time of creation of the company.
Change Tally Vault:To change the password, given earlier at
the time of creating the company.
Split Company Data:Split the companies to form two
companies out of the existing one; after the data specify by the
user. In this process the closing balance of the first company
will become the opening balance of the second company.
Backup/ Restore:This option allows the user to take a
backup either on local hard disk or on any external media. The
backup of one or more companies can be taken under a single
directory.
continue …

21. Role of Buttons
The right hand screen area of Tally contains buttons;
they perform various useful functions.

22. Role of Buttons
The right hand screen area of Tally contains buttons;
they perform various useful functions.
continue …
F1 : Select Cmp ─ It enables user to select company(s)
and add them to the list of active companies.

23. Role of Buttons
The right hand screen area of Tally contains buttons;
they perform various useful functions.
continue …
F1: Sht Cmp ─ It enables the user to shut or exit the
selected company from the list of active companies
list.

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