Computerised Accounting

Computerized accounting is the new age method of gathering, recording, and maintaining the financial information of a business or an organization.

1. Computerised Accounting Prepared by Sushil B. Bansode

2. Introduction A computerised accounting system is an accounting information system that processes the financial transactions and events as per Generally Accepted Accounting Principles (GAAP) to produce reports as per user requirements. In a computerized accounting system, the framework of storage and processing of data is called the operating environment that consists of hardware as well as software in which the accounting system. Computerized accounting is the new age method of gathering, recording, and maintaining the financial information of a business or an organization.

3. Advantages Error-Free Accounting Less Manpower Consistency in Records Automation Time Efficient Accessibility Security

4. Disadvantages Data Corruption Unemployment System Failure Incorrect Data Input Skilled Staff

5. Accounting Software Accounting software helps to recording and reporting of repetitive activities like purchasing, selling, stocking of goods and paying of salaries etc. managing of voluminous information and quick retrieval of data. Accounting software are useful in preparing journals to final accounts and accounting statements. Some of the accounting software Word processor Electronic Spreadsheet Tally ERP 9

6. Tally ERP 9 ( Tally Enterprises Resources Planning ) Tally is an ERP accounting software package used for recording day to day business data of a company. Tally Solutions Pvt. Ltd.  is an Indian multinational technology company, that provides enterprise resource planning software to organizations. Tally Founded in year 1986. Founder: Shyam Sunder Goenka , Bharat Goenka . Headquarter: Bangalore (Karnataka). Products: TallyPrime Tally.ERP 9, Tally.Server 9, Tally.Developer 9 and Shoper 9 The latest version of Tally is Tally ERP 9. Website: www.tallysolutions.com

7. Tally ERP 9 Screen

8. Company Creation

9. Gateway of Tally

10. Features of Tally User Friendly Provide Instant Results Codeless package Flexible accounting package It can be use any operating system (Windows, Apple, Macintosh etc.) Following options provided Accounting with inventory Accounting only Inventory system only Highly secured against data tempering Multiple currency and foreign exchange option is provided Tally audit feature Backup and restore facility Tally can record maintain various ledgers, It can prepare trial balance, it can also prepare final account Cash flow and fund flow statement

11. Voucher Voucher means any original document which is used as an evidence of the entries made in the books of accounts like invoice, suppliers bill, receipts, counter foil, pay in slip etc. Types of voucher Contra Payment Receipt Debit note Credit note Sales Voucher Purchase Voucher Journal or accrual voucher

12. Contra Voucher (F4) This voucher is prepared where a transaction relates to cash and bank e.g. cash deposit into bank or cash withdrawn from bank. Thus in this transaction cash is debited or credited and bank account is credited or debited. Example Cash Deposit into bank Cash withdrawal from bank Cheque deposit into bank Cheque receive from bank

13. Payment Voucher (F5) All transactions related to payment either in cash or by cheque are recorded in payment voucher. Such payments may be in respect of purchase of goods or purchase of assets, payment of expenses, payment of creditors or payment of loan and advances. Example Salary paid Wages paid to Mohan Cash paid to Shyam Rent Paid

14. Receipt Voucher (F6) All receipt of money either in cash or by cheque are recorded through receipt voucher such receipt may be towards any income such as sales, interest, form debtors or loans etc. Example Cash receive from Amit Rent Receive Commission receive

15. Activate Debit Note and Credit Note

16. Debit Note Voucher (Ctrl +F9) Generally it debit note is prepared when you return goods or supplier has granted credit to us on account of rate difference discount etc. Example   Purchase return

17. Credit Note Voucher (Ctrl+F8) A credit note is generally issued when a purchaser return goods to us out of goods sold to him or to if you grant him credit due to rate differences or discount / rebate or due to some reason you want to square off a debit balance. Example Sales return

18. Sales Voucher (F8) Any sales whether goods or services are entered in the sales voucher. Example Sales of goods worth Rs. 1500 Sales furniture to Ram Sales of machinery to Ram for cash Sales of good to Sanju

19. Purchase Voucher (F9) Any purchase transaction in respect of goods or services is recorded in purchase voucher. Example Goods purchase Furniture Purchase

20. Journal voucher (F7) Journal voucher is an adjustment voucher, used for non cash transaction like adjustments for oustsanding income, outstanding expenses, provision for liabilities, provided to be made etc. Example Drawing , charity of goods, donations Goods distributed as free sample Loss by fire / loss by theft Any adjustment entry

21. Tally Generate Report Balance sheet Statement of Profit and loss Cash flow and fund flow statement Ratio analysis report Trial balance report Day book report Outstanding report Stock summery report Tax report : GST report / VAT report E- Way bill report

22. Thank You…