Tally ERP 9 & Tally Prime Combo Batch-31

Tally ERP 9
Tally Prime

1. Welcome

2. Computerized Accounting System Conducted by: Saleh Muhammed Saki (Founder & CEO-ERP Solutions BD ) Cell- 01670161272 Mail Address- [email protected]

3. Objectives of the study To study the Meaning, definition and advantages of computerized accounting. To study the comparison between Manual Accounting & Computerized accounting System. To know the accounting software Tally , it’s features and different versions. To study the preparation of vouchers , steps, selections, types, altering, deleting of vouchers, feeding of data and generation of report

4. Computerized Accounting Computerized accounting system is an accounting information system so as to process the financial data transactions and events as per generally accepted accounting principles (GAAP) to generate reports as per the need of users. Transaction Processing System (TPS) is the first and prime stage in computerized accounting. The main objective of TPS is to record, process, validate and store transactions of the business for further process.

5. TPS involve following steps in Processing a transaction Transaction processing system Data entry Data Validation Processing and revalidation Storage Information Report

6. Advantages of Computerized accounting 1. Automation : Since all the calculations are handled by the software, computerized accounting eliminates many of the mundane and time-consuming processes associated with manual accounting. For example, once issued, invoices are processed automatically making accounting less time-consuming. 2. Accuracy : This accounting system is designed to be accurate to the minutest detail. Once the data is entered into the system, all the calculations, including additions and subtractions, are done automatically by software. 3. Data Access : Using accounting software it becomes much easier for different individuals to access accounting data outside of the office, securely. This is particularly true if an online accounting solution is being used. 4. Reliability : Because the calculations are so accurate, the financial statements prepared by computers are highly reliable .

7. 5. Scalable : When your company grows, the amount of accounting necessary not only increases but becomes more complex. With computerized accounting, everything is kept straightforward because sifting through data using software is easier than sifting through a bunch of papers. 6. Speed : Using accounting software, the entire process of preparing accounts becomes faster. Furthermore, statements and reports can be generated instantly at the click of a button. Managers do not have to wait for hours, even days, to lay their hands on an important report. 7. Security : The latest data can be saved and stored in offsite locations so it is safe from natural and man-made disasters like earthquakes, fires, floods, arson and terrorist attacks. In case of a disasters, the system can be quickly restored on other computers. This level of precaution is taken by Clever Accounting. 8. Cost-effective:  Since using computerized accounting is more efficient than paper-based accounting, than naturally, work will be done faster and time will be saved. When one considers that Clever Accounting, one of the latest online accounting solutions, starts at a low monthly subscription, then computerized accounting really becomes a no-brainer. 9. Visuals : Viewing your accounts using a computer allows you to take advantage of the option to view your data in different formats. You can view data in tables and using different types of charts.

8. Top 10 accounting software in Tally ZOHO Books Quick book Enterprises Marg Busy Accounting Software Profit Books Accounting software Saral Accounting Reach Accounting Software Xero Wave Accounting

9. Manual Accounting Manual Accounting  is a system of accounting that uses physical registers and account books, for keeping financial records.

10. Advantages of Manual accounting Error Correction: Despite the convenience and market penetration of computer-based accounting systems, manual accounting still offers several advantages that make it a viable alternative. The first is error correction. Double-entry accounting, attributed to Luca Pacioli , a 15 th  century Italian, provides a natural way to guard against data entry errors and number transpositions. Every transaction gets entered as a debit in one account, and a credit in another account. Trial balances compare all debits and all credits. If these don’t match, an error is made somewhere in the accounts. Data System Errors and File Corruption Computer systems store data in ways that aren’t commonly understood by many users. Opening the wrong file with old data or encountering a data file with digital errors can ruin the validity of your current data. Manual systems use a single file, the ledger, for each account. There’s no other version with similar data that may be confused. Always Accessible Power or internet outages won’t prevent you from working on accounts unless you’re thrown into complete darkness.

11. Manual Accounting and Computerized Accounting Sr. No. BASIS FOR COMPARISON MANUAL ACCOUNTING COMPUTERIZED ACCOUNTING 1. Meaning Manual Accounting is a system of accounting that uses physical registers and account books, for keeping financial records. Computerized Accounting is an accounting system that uses an accounting software, for recording financial transactions electronically. 2. Recording Recording is possible through book of original entry. Data content is recorded in customized database. 3. Calculation All the calculation is performed manually. Only data input is required, the calculations are performed by computer system. 4. Speed Slow Comparatively faster.

12. Sr. No. BASIS FOR COMPARISON MANUAL ACCOUNTING COMPUTERIZED ACCOUNTING 5. Adjusting Entries It is made for rectification of errors. It cannot be made for rectification of errors. 6. Backup Not possible Entries of transactions can be saved and backed up 7. Trial Balance Prepared when necessary. Instant trial balance is provided on daily basis. 8. Financial Statement It is prepared at the end of the period, or quarter. It is provided at the click of button.

13. INTRODUCTION of TALLY Tally  is an  ERP (Enterprise Resource Planning) accounting software package used for recording day to day business data of a company. The latest version of Tally is Tally ERP 9. Tally ERP 9 is fastest and powerful concurrent multi-lingual (12 languages including 9 Indian language) business accounting and inventory management software. Meet the need of small, medium and large businesses. The software handles accounting,  inventory management, order management, tax management, payroll, banking and many such requirements of the business

14. HISTORY AND FOUNDER Tally software Developed by Tally Solution Pvt. Ltd. (1986) It’s a multinational Indian Company. Headquarter: Bangaluru , Karnataka Founded by : Shyam Sunder Goneka & Bharat Goenka Website link:- https://tallysolutions.com/

15. All Tally versions Sr. No.   Year        Versions       Contents 1 1990 Tally 3.0 Basic Accounting for small, business orgnization 2 1991 Tally 3.12 Basic of Accounting 3 1992 Tally 4. DOS Based Accounting 4 1994 Tally 4.5 Financial Accounting, Classification, reports 5 1996 Tally 5 Inventory Modules structural involving and integrated accounting and inventory records. 6 1996 Tally 5.4 Capacity of importing of data, able to convert earlier data formats into the current data format. 7 2001 Tally 6.3 An extension of enterprise system.

16. 8 2005 Tally 7.2 An integrated enterprise system, provides various types of taxes such as TDS, VAT & TCS along with service tax modules. 9 2006 Tally 8.1 Multi language, support 10 language 10 2006 Tally 9 Support 13 languages, including foreign ones and also includes payroll, POS (Point of Sales) 11. 2009 Tally ERP 9 Complete Business Solution 12. 2015 Tally ERP 9 Taxation and compliance feature 13 2017 Tally ERP 9 with GST Updated GST compliance software

17. Tally ERP 9 Screen

18. Features of Tally ERP.9 A leading accounting software No accounting codes Complete business solution Integrated/Non-integrated accounting and inventory Flexible and easy to use Speed Versatility Multiplatform availability Online Help ( Alt+H ) Tally.NET Remote access Simple and rapid installation Unlimited multiuser support Internal Backup & restore High security Level Tally Audit Import and Export Data Multilingual capability

19. Preparation of Vouchers Voucher A voucher is a certificate or document that either allows you to purchase something or proves that you paid for something. Voucher is an original and valid document in every business. It is proof or an evidence of record entry in the books of accounts. The entry with the help of voucher is known as “ Voucher Entry ”. Examples of Vouchers Counter-foil, pay in slip, sales and purchase invoice, cash memo, bank in slip etc.

20. Types of Vouchers provided in Tally Sr. No. Function key Types of Voucher Use of voucher 1 F4 Contra Voucher (Cash With Bank) Cash Deposited in bank Cash Withdrawal from bank Cheque transferred from one bank to another bank Loan taken from bank 2 F5 Payment Voucher (Cash/Bank) Purchase goods by cash or cheque Paid Expenses by cash or cheque Paid loan by cash or cheque Purchase Fixed Assets by cash or cheque Any type of payment made by cash or cheque

21. 3 F6 Receipt Voucher (Cash/Bank) Sales goods by cash or cheque Received Incomes by cash or cheque Received cash or cheque from customer Any type of income received by cash or cheque Loan Taken From Friends, Relatives or other persons 4 F7 Journal Voucher Depreciation entries Assets purchase on credit Any Type of Adjustment entries 5 F8 Sales Voucher Credit Sales 6 F9 Purchase Voucher Credit Purchase 7. Ctrl+F8 Credit Note Sales return Interest receivable adjustment 8. Ctrl+F9 Debit Note Purchase return Interest Payable adjustment 9. Ctrl + F10 Memorandum i . Any type of future entry

22. Steps in entering voucher in Tally To know the valid source of document and type of transaction. To understand the accounts involved. Select type of transaction and press function key from F4 to F10 accordingly. Entre the date or change in date (F2) Entre the number of vouchers. In case Credit sales or credit purchases, entre reference number. Open ledger accounts if it is not already opened or created (ALT+C). Enter the amount of given transaction and also one can use calculator by pressing ALT+C To show Dr. or Cr. By showing word To and By. To means Credit and By means Debit. Verify the total of debit and credit balance of various accounts. Tally provide total of both. Entre the narration for transaction. Entre the adjustable amount if receipt from debtors and payments to creditors. Lastly, Voucher is entered, press Entre key or Y/N and save.

23. Voucher entry in Tally ERP 9 Select a Company –Gateway of Tally. Gateway of Tally- Accounting vouchers. F2-to update the date F4- Contra (Cash with Bank) F5- Payment (Cash/ Bank) F6-Receipt (Cash/Bank) F7- Journal Entry-provisions, rectification and adjustment F8- Cash and credit sales of Goods Ctrl+F8- Credit note F9- Purchase Ctrl+F9-Debit Note F10 Memorandum (Suspense Transaction or Any type future entry)

24. Altering of voucher To alter means change or modified. The change or edit in one or more data voucher is known as altering of voucher . Path of Altering Voucher in Tally Go to Display > Day book > select the voucher that has to be altered >Make the changes >Save the altered voucher

25. Deleting of voucher If wrong or incorrect voucher entries are made. It is essential to delete the said voucher instead of making reverse entries. This facility avoid the unnecessary entries and nullifies the wrong effects. Path of Deleting Voucher in Tally Go to Display > Day book > select the voucher that has to be deleted

26. Feeding of Data and Generation of Reports After feeding required data, before generating any report, statement or subsidiary books tally display it on screen. The report can be saved stored and saved safely in computer memory, there for business can get data whenever required. Tally providing following outputs after feeding data Books of accounts Reports Data

27. Specimens of Report can view in Tally Trial Balance Gateway of Tally > Display > Trial Balance Profit and Loss Account Gateway of Tally > Display > Profit & Loss Account Balance Sheet Gateway of Tall > Display > Balance sheet

28. Thank You… *****