Tally. Erp 9.1

Tally. Erp 9.1

(Practical Theory)

How to start and close the Tally Program?

Note: - Tally is an accounting application program developed by S S Goenka in 1986. Its different versions are as follows – 3.0, 4.5, 5.4, 6.3, 7.2, 8.1. 9.0, 9.1 Erp (Enterprises Versions), and current version of it, is Tally Prime.

How to open it?

Steps: - Double Click on the Tally program icon from the desktop window or Click and Enter or type ‘tally’ in search box and press - Enter.

How to close it?

Steps: -

Press – Ctrl + Q or Press – Down Arrow – Select Quit and press – y.

Assignment –

Company creation – Create and Company by your Name + Enterprises.

Hints: -

a. When we start a job as an accountant, we join any firm/org./institute etc., we have to create the detail of that company in Tally which is known as ‘Company Creation’. In this process, we have to fill some important details about that company. Such as: - Name of the company, mailing name, addresses, Financial Year, Books Beginning, Types of account etc.

b.  Mailing Name: - In mailing name we fill the name of company.

c.   Financial Year: - The session from 1^st April to 31^st of March is known as financial year.

d.  Books beginning: - Starting date of your business is the books beginning.

e.  Types of accounts: -

a. Accounts Only (It is selected when our accounts are maintained through only ‘Dr’ and ‘Cr’ mode.

b.   Accounts with Inventory: - It is selected when we maintained the accounts through both the modes ‘Dr’ and ‘Cr’, and with Inventory Mode (Items).Especially, it is selected for the trading accounts.

Assignment –

Create a company in your directory in your Tally Accounts. Company Name – Name + Infotech.

Steps: - Open your previous created Tally – Shut it down by using -Alt + F1 command and then your create your company.

Examples: -

Name of the company – Name Enterprises

Mailing Name – Name Enterprises

Address- Fill your address

Country – I (India)

State – B (Bihar)

Phone –

E-mail – name@gmail.com

Types of Accounts – Accounts only

Financial Year – 01-04-2020

Books beginning – 01-04-2020

Accept all by pressing – Enter.

Hints: -

 How to open your account in Tally? – Select ‘Create Company’ – Press – Enter – Press – Backspace – Press – End Button – Press (\) – Type your name (place) – Enter.

C:\Tally ERP9\Data\Name……

How to close the tally after completion of ‘Company Creation’?

Press – Alt + F1(Shut Company) – Press – Ctrl + Q

Assignment –

·      Delete your previous created company named – Name + Enterprise.

·      Again, Create the same company by your name in the same directory of your accounts.

·      Prepare the following ledgers and groups given as follows: -

Sl. No	Name of Ledgers	Groups	Opening Balance
1	Kumar’s Capital A/c	Capital Account	250000
2	Land & Buildings	Capital Account	150000
3	Furniture’s a/c	Fixed Assets	50000
4	Security Deposit a/c (Office)	Deposit Assets	50000
5	Star Infotech	Bhagalpur Creditors	55000
6	S P Infotech	Patna Creditors	75000
7	GP Infotech	Purnea Creditors	25000
8	Bahadur Kumar’s a/c	Purnea Creditors	1500
9	Sohan Lal’s a/c	Naugachia Debtors	2500
10	Ganesh Enterprises	Bhagalpur Debtors	7500
11	Rupesh Kumar	Naugachia Debtors	5000
12	Suchitra Kumari	Naya Tola Debtors	850
13	Electricity Expenses	Indirect Expenses	1550
14	HP Computer Set	Fixed Assets	85000
15	Electricity Fittings	Fixed Assets	6500

 

How to open it again?

Double Click on Tally icon – Select the option ‘Select Company’ – Type the same addresses what you have created during company creation.

How to alter the details or information of company?

Gateway of Tally – Press (Alt + F3) – Press (A/Select-Alter) – Select your company – Press – Enter. Here, you change whatever you want to alter. Save it by using (Ctrl + A/Accept Yes). To come back to your gateway of Tally press – ESC button. Remember, the ESC button is used to come out from any voucher, ledger or group screen up to ‘Gateway of Tally’.

Assignment –

Create a company name – Software Ltd. & Company

Address – Your own address with previous details.

Hints: -

To create this company, first of all open your old company – Shut it by using (Alt + F1) – Now, select ‘Create Company’ – and fill the details as you have.

Press – Alt + F1 to shut it and again go to select company and here, you will see both the companies and open any by select. Likewise, by pressing Alt + F1, we can switch any company.

How to delete unwanted companies created on Tally program?

Steps: -

First of all open any company – Go to the ‘Gateway of Tally’ – Press – Alt + F1 – Select the company which you want to delete – Press – Enter – Press – Alt + F3 – Select – Alter (A) – Select your company – Press Enter and Press – Alt + D (Delete)

On the Gate way of Tally, we get four headings – Master, Transaction, Import and Reports.

Master: - In master we get ‘Account Info’ but we can add ‘Inventory Info’ by using company alteration mode.

Account Info: - It has following options – Groups, Ledgers, Voucher Type and Quit.

Ledger: - The name of accounts is called ledger. Such as: - Ram a/c, (a/c = Accounts), Sita a/c, Cash a/c, HDFC a/c, ETC a/c, Star Infotech a/c etc.

Group: - The nature or the category of the ledgers is called a group.

Note: - The nature of accounts may be suppliers (Sundry Creditors), Customers (Sundry Debtors), Banks (SBI a/c, HDFC Bank a/c), Expenses (Direct Expenses, Indirect Expenses), Incomes (Direct or Indirect Incomes), Fixed Assets, Current assets, Liabilities, Provisions (Payable a/c), Capital a/c etc.

Assignment –

1.  Create a company named ‘Name Infotech’. Address = Type your own address

Accounts only, Financial Year – 2015 -2016 and accept all.

2. Create the following ledgers as given below –

a.  Arun a/c – Under – Sundry Debtors

b.  S K Gupta a/c – Under – Sundry Debtors

c.  Sita a/c – Under Sundry Debtors. Like these – create more ten ledgers under sundry debtors.

3. Hints: - First of all open your old company – Press – Alt + F1 to shut it – Select – Create company and fill its form as given. Gateway of Tally – Select – Account Info – Select – Ledgers – Select ‘Create’ - Type ledger name and under – And, accept all like this.

 

Note: -

a.  When we create any company, by default some ledgers have been already created. By default – Cash a/c and Profit & Loss are predefined ledgers.

b. And, there are about 28 predefined groups have been already created.

How to create our own groups?

Examples: -

Customers List

Cust_Name	Address	Mob
Mohan Enterprises	Bhawanipur, Naugachia
S K Enterpries	Nawada, Naugachia
Vivek Cement	Naugachia, Bazar
Sumit Enterprise	Nayatola
Jaykant Udyog	Rajendra Colony

 

Note: - How to edit your created ledgers?

a.  Change the under (Group) – Gateway Tally – Account Info. – Ledgers – Single Alter – and now, change whatever you want.

b. Delete the unwanted ledgers – Follow the same step and press – Alt + D.

c.  How to see your ‘Trail Balance’? –Gateway of Tally – D (Display) – T (Trial Balance) – Alt + F1 – Press- F4 – Enter. (It is used to see in sub-total mode).

Assignment –

Create a company under your same directory named – ‘Softech World’.

Transaction details: -

Ledgers	Under	Balance
Softech World Capital a/c	Capital A/c	150000/-
STATE BANK OF INDIA	Bank A/c	200000/-
Car	Fixed Assets	100000/-
Buildings	Fixed Assets	300000/-
Electrical Fittings	Fixed Assets	40000/-
Star Infotech Patna	Patna Debtors – Sundry Debtors	55000/-
Salary Expenses	Indirect Expenses	15000/-
Rent Expenses	Indirect Expenses	25000/-
Rent Received	Indirect Incomes	3000/-
Salary Received	Direct Incomes	250000/-
Bank Interest	Indirect Expenses	750/-
Electricity Expenses	Indirect Expenses	800/-

How to Edit ledgers?

Gateway of Tally – Select Account Info. – Select on ‘Ledger’ – Select the name that you want to edit it.

·    Softech World purchases computer set by cash Rs. 65000/-.for office.

·    Furniture purchased by cash Rs. 65000/- for office use.

·    Security Deposit paid by cheque (State Bank of India) Rs. 75000/-

Assignment –

Name of Ledgers	Under	Balance
R K Capital A/c	Capital a/c	500000
R Udyog	Local Debtors/Sundry Debtors	12000
Shyam Udyog	Local Debtors/Sundry Debtors	15000
Mittal Udyog	Local Debtors/Sundry Debtors	16000
Karuna Ltd.	Local Debtors/Sundry Debtors	17000
Sajjan Infotech	Out debtors/Sundry Debtors	18000
Vidhan Ltd.	Out debtors/Sundry Debtors	20000
Axis Bank	Bank a/c	250000
Salary Expenses	Indirect Expenses	15000
Electricity Expenses	Indirect Expenses	1200
Buildings	Fixed Assets	150000

Note:-

Create a new company named ‘ R. K. Enterprises’.

Fundamentals of Accounts

Accounting: - “Accounting is an art of recording, classifying and summarizing in a significant manner and in terms of money; transactions and events which are, in part of at least, of a financial character and interpreting the result thereof.”

Maintain the account of Softech World, Naugachia (Bhagalpur)

Financial year – 2015

1.  The Softech World started his business with cash Rs. 500000/- Date – 01/04/2015

2.  Deposited Rs. 100000/- to HDFC BANK. Date – 02/04/2015

3.  Create the following Stock items for Softech World –

SL NO.	NAME OF ITEMS	UNDER	QTY	UNIT PRICE	TOTAL
1	USB MOUSE (INTEX)	MOUSE	25	475
2.	USB MOUSE (LOGITECH)	MOUSE	15	775
3.	USB MOUSE (MICROSOFT)	MOUSE	25	975
4.	WIRELESS MOUSE (LOGITECH)	MOUSE	20	2175

 

Maintain the accounts of J K Enterprises

1.                        J K Enterprises started his business with cash Rs. 1000000/- on 01/04/2016.

2.                        Deposited Cash Rs. 200000/- in Axis Bank on 02/04/2016

3.                        Paid Rs. 75000/- as a security deposit for office campus on 03/04/2016 as the agreement of Rs. 5000/- Pm

4.                        He hired threera staffs named – Rajesh as a Manager Salary pm Rs. 25000/-, Sujit as an assistant manager Salary pm Rs. 20000/-, Suchitra as Supervisor Salary pm Rs. 15000/- (Here, cost centre will activated for all the staffs.)

5.                        J K Enterprises purchased the following items at the GSTrate 6% SGST AND CGST% from S K Enterprise  on 10/04 –

Items	Qty	Unit Price
Mouse Wireless	45	875
Key Board wireless	45	1275
Cabinet (Ultra)	50	2150
Cabinet(General)	25	1250
DVD (BLUE RAY DISK)	10	2575

 

6.                        J K Enterprises paid all the amount to S K Enterprises for previous purchasing by cheque on 12/04/2016.

7.                        J K Enterprises sold the following items to Sumit Infotech at the GST rate 6% on 15/04/2016 on credit. Items are as follows –

Items	Qty	Unit Price	Total
Wireless Mouse	5	1375
Cabinet Ultra	2	2600
Keyboard Wireless	5	1675
DVD Blue Ray Disk	3	3150

 

8.                        Received all the dues from Sumit infotech on 16/04/2016 through cheque.

9.                        J K Enterprises purchased the items from U K Infotech and received 20% discount and GST rate 8% on credit on 17/04/2016

Particulars	Qty	Unit Price	Total
Wireles Mouse	25	2550
Wireless Keyboard	20	2675

 

10.                Paid all the dues to U K Infotech by cheque on 20/04/2016.

11.                Sold all the rest items to M K Enterprises on GST rate 6% on 25/04/2016 on credit. The price of those items will be same of purchase rate.

12.                Received all dues from M K Enterprise. On 27/04/2016 by cheque.

13.                J K Enterprises purchases the following items on credit on 15/05. The details are as follows: -

Items	Qty.	Unit Price	Total	Vat Rate	Disc%
Wireless Mouse	15	725		12.5%	10
Wireless Keyboard	20	3000		12.5	15
Cabinet Ultra	15	2800		4%	10
Cabinet Gen.	20	1750		4%	25

 From S K Infotech.

14.                J K paid all the dues on 20/05 to S K Infotech.

Operating the ‘Tally’ Accounting Software

The following steps are very necessary to operate any version of ‘Tally’ program. These are as follows: -

1.                        Company Creation: - Company Creation is the most compulsory part of ‘Tally’ accounting. In it, we have to fill its form in which we fill some important and compulsory information. Such as: - The name of company, Full Address with its state, Mode of Accounting (Like – Accounts only or Accounts with inventory. Note: - In Accounts mode -Bill wise option will be closed whereas in Accounts with inventory mode Bill-wise options and VAT/GST will be on). If password is necessary, you can put the password during company creation. Financial Year (F Y) is also one of the necessary part of company creation. During company creation an option name ‘Books Beginning’ is very necessary. ‘Books Beginning’ tell since when you have started your business. But, generally it is also chosen – 01/04.

Assignment –

Create a company named –

Hints: -

J K SOFTWARE & INDUSTRIES

ADDRESS – (OWN ADDRESS)

STATE – BIHAR, INDIA, PIN , A/C MODE – ACCOUNTS WITH INVENTROY, F. Y. - 01/04/2016, BOOKS BEGINNING – 01/04/2016.

Ledger Creation: - Ledger is the name of accounts. Such as: - Mohan’s a/c, Sita’s a/c, State Bank of India, ABC company etc.

Assignment –

Create the following ledgers with opening balances: -

SL. NO	NAME	UNDER	OPENING BALANCE
1.	J K S Capital a/c	Capital a/c	500000
2	M K COMPANY	Sundry Creditors	125000
3	Jaykant’s a/c	Sundry Debtors	50000
4	Madan ‘s a/c	Sundry Debtors	30000
5	Land and Buildings	Fixed Assets	200000
6	Car	Fixed Assets	300000
7	Furniture	Fixed Assets	50000

 

Voucher: - Voucher stands for all types of bills or invoices.  In Tally we use two types of Vouchers –

i.     Accounting Vouchers and

ii. Inventory Vouchers

Note: - In accounting vouchers, we get the mode of invoices or bills which are measured through debit and credit only. The following types of vouchers are used in accounting vouchers –

Contra Voucher (F4) : - When our transaction refers the following modes like – Cash to Bank, Bank to Cash or Bank to Bank.

Examples: -

·    The company deposited Rs. 200000/- cash  to his bank Axis Bank on 04/04.

·    Hints: - Gate way of Tally – Press – V (Accounting Voucher) – F2 (Date) – Press – F4 . Press – Alt + C to create your bank – Axis Bank – Under – Bank Accounts.

·    The company transferred RS. 50000/- to HDFC BANK ON 05/04.

·    The company withdrew Rs. 30000/- from Axis Bank on 06/04.

Receipt Voucher (F6):- It is used to receives the cash or cheques.

·    The company receives cash RS.25000/-  from ABC & Co. (Sundry Debtors) on 07/04.

·    The company added another amount to his capital Rs. 150000/ - by cash on 08/04.

Note: -

How to see your ‘Trial Balances’?

Gateway of Tally -  D (Display) – T (Trial Balance) – Alt + F1 (To see the details on Trial Balance’ Mode – F4 (To see the total in underlined mode)

How to correct your day book?

Gateway of Tally – D(Display) – D (Day Book) – F2 (Date) – Press – Space – Enter and select your entry.

How to correct the under of any ledger in Voucher?

Day Book – Open your entry – Go to the entry box or legder name – Press – Ctrl + Enter – Change the correct name and under and save by ‘Enter’ or – Ctrl + A.

Payment Voucher (F5) – It is used for all types payment and used for all the expenses.

·    The company paid security deposit for office cash Rs. 40000/- on 09/04.

·    Note: - Jump from Day Book list to Voucher Press – Alt + I.

·    The company purchase a laptop for office use by bank Rs. 75000/- on 11/04.

·    Furniture bought by the company by cash Rs. 55000/- on 12/04.

·    Rs. 25000/- cash was invested on Electrical fittings on 13/04.

·    Journal Voucher (F7):- Generally, Journal Voucher is used to adjustment, credit transaction, provision entry or showing any compensation statement.

·    Purchase Voucher (F9):- Purchase Voucher is used only for those goods which is purchased for sale. We don’t use purchase voucher for personal use, office or domestic use. For personal use of goods, office use of goods or domestic use of goods we use ‘Payment voucher (F5)

·    Sales Voucher (F8): - Sales Voucher is used for the goods which has been purchased for sales only.

Assignment –

·    The company purchased goods on credit Rs. 50000/- on 14/04 from R K Builders.

·    The company sold the goods on credit Rs. 60000/- on 15/04 to S K Enterprises.

·    The company received all the dues from S K Enterprises on 16/04

·    The company paid all the dues to R K Buiders on 17/04.

How to maintain the stock?

In stock we have care for the following things: -

a. Items

b.    Quantity

c. Unit Measurement – Simple and Compound

d.    Totality

e. Tax – Vat/GST

Examples: -

Q: - The company purchased the following items form R K Builders on Credit. The details are as follows: -

Date: - 18/04

Items	Unit Price	Quantity	VAT 12.5%
Mouse	225	50	12.5%
Keyboard	375	50	12.5%
MONITOR	5500	11	12.5%

 

Hints: -

VAT/GST: - ‘VAT’ stands for ‘Value Added Tax’. Although, now it is out of market. Instead of it, we use ‘GST (Goods and Service Tax)’. Methods are same for both of them but in GST we have to add some extra features.

There are two types of methods used in VAT – Input VAT and Output.

Input VAT: - Input VAT is applied when a business man purchases something.

Output VAT: - It is used when a business man sells something.

In Tally Erp. We get some slabs of VAT percentage. Like – 1%, 4%, 12.5% etc.

Note: - Like VAT entry we also do the same method of GST entries. In GST we also used – Input GST and Output GST. The slabs of GST are as follows: - 1%, 6%, 8%, 14%, 18%, 24% and 28% etc. In GST we post our transactions through – SGST and CGST (These will be distributed into Input SGST and Input CGST, and Output SGST and Output CGST.

How to create Input VAT and Output VAT?

a.  Create Input VAT@12.5% - Steps: - Gateway Tally – Account Info – Ledger Creation –  Type ‘Input VAT@12.5% - Under – Duties and Taxes – Choose -VAT (First of all F11 – Statuary (F3) – VAT – Yes)

Journalize the accounts of P K ENTERPRISES

1.                 P K Enterprises started his business with cash Rs. 1500000/- on 01/04/2018. (Hints: - First create the company by its name and pass this entry through Receipt Voucher – F6)

2.                 Deposited Rs. 500000/- to SBI BANK on 02/04. (Contra Voucher – F4)

3.                 Deposited security amount Rs. 100000/- by bank for office on 04/04 and the agreed amount of office Rent Rs. 5000/- (Security Deposit (Under Deposit Assets).

4.                 P K Enterprises hired four staffs – Sumit Sexana as Manager Salary Rs. 45000/- PM, Sandeep as asst. Manager Salary Rs. 35000/-, Mohit Kumar as clerk Salary Rs. 20000/- and Suchitra Goswami as a receptionist Salary Rs. 15000/- (Apply cost center and create all the salary amount in it.)

5.                 P K Enterprises purchased the furniture for office use Rs. 75000/- by cash on 05/04.

6.                 P K Enterprises purchased a computer system on credit from Star Infotech on 06/4 for office Rs. 65000/-

7.                 Paid all the dues to Star Infotech on 8/04 by cheque.

8.                 P K Enterprises purchased the following items on GST rate@6% from U K Enterprises on credit Date 10/04–

Items	Qty	Unit Price	Gst Rate@12.5%
Mouse	100	125 + (125*25/100)
Keyboard General	100	375
Keyboard Wireless	75	950

 

9.                 P K Enterprises paid all the dues to U K Enterprises on 12/4 by cheque.

10.         P K Enterprises sold his all the items on credit with same GST rate to Shyam InfoTech on 13/4. With the benefit of 25%.

11.         P K Enterprises received the total amount from Shyam Infotech by cheque  with 5% discount date 15/04.

12.         PK Enterprises purchased the following items on credit from Ganesh Infotech at the rate of GST 4% Date – 17/04 –

Items	Qty	Unit Price	Gst Rate@4%
Mouse	110	175
Keyboard General	105	425
Keyboard Wireless	65	1150

 

13.         P K Enterprise paid all the dues to Ganesh Infotech by cheque with the discount of 10% on 20/04.

14.         P K Enterprise sold the whole items to U K Enterprises on credit on 25/4. (Here, he adds 25% benefit on each items and gives 5% discount to his customer.)

15.         Received all the dues from U K Enterprise by cash on 29/04

16.         P K Enterprises deposited Rs. 100000/- to his bank account on 30/04.

Month – May

1.     P K Enterprises paid his room rent by cash on 02/05.

2.     Paid salary to his all staffs by cash on 3/5.

3.     Purchased the following items from Ganesh Infotech on Credit date – 05/05.

Items	Qty	Unit Price	Gst Rate@8%
Mouse	110	180
Keyboard General	115	450
Keyboard Wireless	70	1250

 

4.     Paid the whole dues to Ganesh Infotech receiving 10% discount by cheque on 6/05.

5.     P K Enterprises paid his electricity bill amount Rs. 1750/- by cash on 7/05.

6.     P K Enterprises paid telephone bill amount Rs. 750/- by cash. Date 8/05.

7.     Miscellaneous expenses for this month Rs. 1250/- by cash on 9/05.

8.     P K Enterprises prepared the following items as stock with balances.

a. Go down No -1

Items	Qty	Unit Price	Total
Mouse-PS2 Normal	50	150
Mouse – PS2 Laser	55	175
Keyboard – PS2 Normal	35	375
Keyboard- USB	45	550

9.     P K Enterprises sold the following items on 10/05 at the GST Rate 8% to R K Infotech on credit:-

Go down No -1

Items	Qty	Unit Price	Total
Mouse-PS2 Normal	50	150
Mouse – PS2 Laser	55	175
Keyboard – PS2 Normal	35	375
Keyboard- USB	45	550

10.                     R K Infotech paid his dues deducting 15% discount on 11/05 by cheque.

11.                     P K Enterprises sold the following items to Shyam Infotech on credit to following items applying 10% discount and receiving 25% benefit on all the items on 12/5. The company gives the three days credit.

Items	Qty	Unit Price	Gst Rate@8%
Mouse	110	180 + (180* 35/100)
Keyboard General	115	450 + (450 *35/100)
Keyboard Wireless	70	1250 + (1250*35/100)

 

12.                     P K Enterprises creates the following stocks:-

Go down No -2

Items	Qty	Unit Price	Total
Mouse-PS2 Normal	55	160
Mouse – PS2 Laser	58	180
Keyboard – PS2 Normal	45	405
Keyboard- USB	50	650

 

13.                     Received all the dues from Shyam Infotech by cheque date: - 17/05.

14.                     The rest all items were sold on credit to M Infotech giving him 10% discount and getting the 25% benefit on all the items date – 19/05.

15.                     M Infotech paid all the dues on 21/05 by cheque.

16.                     P K Enterprises adjusted the miscellaneous expenses by cash Rs.2550/-on 25/5.

17.                     M Infotech returns the following items to P K Enterprises on 27/05

Items	Qty	Unit Price	Total
Mouse-PS2 Normal	10	160
Mouse – PS2 Laser	25	180
Keyboard – PS2 Normal	23	405
Keyboard- USB	25	650

18.                     P K Enterprises paid the balance against the returned goods on 28/05 by cheque.

Month June

1.     P K Enterprises add a new business to the current business by adding the capital amount of Rs. 200000/- date – 01/06.

2.     P K Enterprises purchases the following FMCG items at the GST rate 8%. Date: - 02/06

Particulars	Qty	Unit Price in Quintal
Rice (Khila –Khila)	10	3200
Rice (Shankar-Bhog)	15	2400
Rice (24 Caret)	10	4500
Rice (Dimond)	10	5200

 (Note: - The above items have been purchased from Sita Ram Pansari Udyog on credit).

3.     P K Enterprises paid all the dues to Sita Ram Pansari Udyog by cheque date – 05/06.

4.     Paid Salary to his staff by bank. Date: - 06/06

5.     Paid rent by cash. Date: - 07/06

6.     Miscellaneous Expenses by cash Rs. 1500/- Date: - 08/06

7.     Fright charges for purchasing the FMCG items Rs. 900 by cash Date (02/06)

8.     Create all the unit of following measurements in compound units:

9.     P K Enterprises sold the following FMCG items on credit to Mahesh Udyog at the rate of 8%GST on 09/06

Particulars	Qty (Qntl)	Unit Price in Quintal
Rice (Khila –Khila)	5	3200 + (25% Benefit and 10% Discount)
Rice (Shankar-Bhog)	3	2400 +(25% Benefit and 10% Discount)
Rice (24 Caret)	6	4500 +(25% Benefit and 10% Discount)
Rice (Dimond)	7	5200+((25% Benefit and 10% Discount)

 

10.                     P K Enterprises received all the dues from Mahesh by bank date:- 10/06.

11.                     He sold all the computer items rest in his Go downs   to his old customer Ganesh Infotech on credit. Date: - 11/06.

12.                     He also sold his FMCG items to Mahesh Udgoy on credit on 12/06 the following items: -

Particulars	Qty (Qntl)	Unit Price in Quintal
Rice (Khila –Khila)	all	3200 + (25% Benefit and 10% Discount)
Rice (Shankar-Bhog)	all	2400 +(25% Benefit and 10% Discount)
Rice (24 Caret)	all	4500 +(25% Benefit and 10% Discount)
Rice (Dimond)	all	5200+((25% Benefit and 10% Discount)

 

13.                     Mahesh Udyog Returned one quintal each FMCG item to P K Enterprises on date: - 15/06.

14.                     Mahesh Udgyog paid his all the dues deducting the returned items by cheque on Date – 17/06.

15.                     P K also received all the dues from Ganesh infotech date – 17/06

16.                     P K Enterprises adjusted the fright charges by cash Rs. 2400/- Date – 18/06

17.                     Deposited Rs. 85000/- in his bank. Date – 19/06.

18.                     P K Enterprises purchased the following electric items on credit from Sumit Electronics with GST @12% on date – 20/06 – (Credit period 3 days)

Go down No – 3

Items	Qty	Unit Price	Total
Sony TV 22”	15	12500
Sony TV 24”	10	13500
Sony TV 32”	7	15500
Sony TV 40”	5	16300

 

19.                     P K Enterprises sold the following electronics items on credit to Shyam Infotech (Credit Period 5) 22/06 – (GST RATE @12%)

Go down No – 3

Items	Qty	Unit Price	Total
Sony TV 22”	15	15500
Sony TV 24”	10	14500
Sony TV 32”	7	17500
Sony TV 40”	5	20300

 

20.                     P K Enterprises purchased the following items on GST rate@6% from U K Enterprises on credit Date 24/06 (5 Days Credit) –

Items	Qty	Unit Price	Gst Rate@6%
Mouse	100	145
Keyboard General	100	405
Keyboard Wireless	75	1100

 

21.                     Miscellaneous Expenses adjusted by cash Rs. 1500/- on 25/06

22.                     P K Enterprises paid Salary Advance Rs. 5500/- to his staff Suchitra Goswami on 27/06 by cash.

Month – July

1.                 P K Enterprises paid office rent by bank on 01/07.

2.                 P K Enterprises paid salary to his staffs and adjusted the salary advance to Suchitra Goswami on 02/07.

3.                 P K Enterprises received his dues from Ganesh on 03/07.

4.                 P K Enterprises paid the all his dues to Sumit Electronics with interest by bank on 05/07. (Note: - Create a Simple Interest  Class in alteration mode of credit-note and use credit-note to pass Interest due – Indirect Expenses. Cr- Creditor Dr – Interest Due).

5.                 P K Enterprises received all his dues from Shyam Infotech with interest. (Note: - Here, also create a Simple Interest class in the alteration mode of Debit Note and pass the entry through Debit-Note voucher – Dr – Debtor, Cr – Interest Due -income – Under – Indirect Income)

6.                 P K Enterprieses paid all his dues with interest to U K Enterprises date – 07/07. (Pass this entry in Credit Note Voucher)

7.                 PK Enterprises purchased the following items on credit from Ganesh Infotech at the rate of GST 8%  and due date 5 days Date – 10/07 – (Godown No. 1)

Items	Qty	Unit Price	Gst Rate@8%
Mouse	115	205
Keyboard General	110	525
Keyboard Wireless	50	1175

 

8.                 P K Enterprises sold his items on credit to R K Infotech on credit with credit period 5 days (Interest Calculation will be applied) on 11/07 -

 

Items	Qty	Unit Price	Gst Rate@8%
Mouse	115	205 + 35% (Dis = 10%)
Keyboard General	110	525
Keyboard Wireless	50	1175

 

9.                 Find out the interest of  Ganesh Infotech on 17/07. And, the interest of R K Infotech on 20/07.

10.         Received all the amount form R K InfoTech with interest on 21/07.

11.         Paid to Ganesh with interest on 21/07

 

 

Q: - The company sold the following items to M K Infotech  on Credit. The details are as follows: -

Date: - 19/04

Items	Unit Price	Quantity	VAT 12.5%
Mouse	380	50	12.5%
Keyboard	575	50	12.5%
MONITOR	7100	11	12.5%

 

Q:- The company received all the amount form M K Infotech by cheque on 20/04.

Q:- The company paid all the amount to R K builders by cheque on 21/04.

 

 

 

 

Configuration of Tally for Inventory Transaction with Bill-Wise Details

There are two functional buttons which are used for setting the configuration for the transaction entries. These two buttons are - F11 and F12. Set your company configuration as follows, if you do the entries for inventory transaction –

·    Press – F11 and set the company as given instructions –  Gateway of Tally – Press – F11 – Select Accounting Feature and set to yes the following options as given below -

·    Press – F2 and set the following options yes (in the same mode) –

·    Note: - Some of the features in this modes are same, therefore they are not necessary to change them and some options such as – Separate Discount Coolum….., Use Multiple Price Level… are not necessary to set yes for the time being.

·    In the same mode – Press – F3 and set the following options ‘Yes’ –

·    Now, Press – Esc and come to Gateway of Tally – Open the Purchase Voucher (F9) – Press – F12 and set the following options ‘Yes’ –

 

·    Note: - When you create any Sundry Debtor or Sundry Creditor –Bill-wise Details will be ‘Yes’ and other options will be disabled.

 

·    How to see the Stock Item? Steps: - Gateway of Tally – Press – S (Stock Item) – Press – Alt + F1 to see its full details.

 

·    How to see the payable or receivable amount? – Gateway of Tally – D (Display) – Statement of Accounts – Outstanding – Select – Payable/Receivable and Press – Enter.

 

·    Cost Centre: - ‘Cost Centre’ is applied when, we have the distribution of amount for particular persons or particular parties. If there is no distribution of amount, set it ‘no’.

 

·    In Inventory the ‘The Bill-Wise Details’ is necessary to set ‘Yes’ during the ledger creation. Without setting it ‘yes’ we cannot create the reference no. for sales or purchases. There are four types of references used in Tally Accounting: -

 

o New Reference: - It is selected when our transaction is new and fresh.

o Against Reference: - It is selected when some materials have sold or purchase on credit.

o Advance: - It is used to show the advance payment.

o On Account: - It is use for missing transactions.

Assignment –

·    J K purchased to following goods on credit from S K Udyog dated: - 20/04 and received 5% discount on each item, vat rate of these items are 12.5% -

Items	Unit Price	Qty	Discount	Vat
Mouse	675	21	5%	12.5%
Keyboard	870	25	5%	12.5%
Hard Disk	6675	5	5%	12.5%
Cabinet	1375	10	5%	`12.5

·     J K paid salary for his staffs named Suresh (Rs.5000/-), Mahesh (Rs. 4000/-), Sangita (Rs. 3500/-) on 27/04 by cheque.

·    J K sold all the items to Suresh Infotech on credit having benefit of rs 300 on each items without giving any discount.

 

How to apply GST in Tally Erp 9.1?

GST (Goods and Service Tax): - This is a kind of tax which is paid to the government by the business man.

This is applied same as we apply VAT rule.

We follow the following rules to apply this: -

First of all the company must be in ‘Accounts with inventory’ mode. Open your company – Gateway of Tally – Press F11 – Select ‘Statutory and Taxation’ – Enable Value Added Tax (Vat) – Yes, Set /Alter Vat Details –‘Yes’.

Note: -

·    GST will be applied for purchases and sales in inventory.

·    It is applied in two methods – Input GST and Output GST.

·    Input GST is applied for purchases and Output GST is applied for Sales.

Voucher

Vouchers are the types of bills used in Tally accounting. We use the following types of vouchers in Tally-

Contra Voucher (F4): - It is used when the transaction concerning to the following conditions – Bank to Bank, Cash to Bank, Bank to Cash etc.

Payment Voucher (F5): - This is used when we pay for all types of expenses.

Receipt Voucher (F6): - This voucher is used when we receive cash or cheque only. This voucher is also applied business started with cash.

Journal Voucher (F7): - This is used when we have to adjust our bills. The following conditions can be applied with the journal vouchers – Adjustment of Tax, Vat, GST, Provision Entry, Credit Entries etc.

Purchase Voucher (F9):- This  voucher is used when goods are purchased for selling purposes.

Sales Voucher (F8): - When goods are sold for main business purposes, we use sales voucher. 

Note: -

·    If expenses are mentioned for common purposes, we always choose the payment voucher.

·    If the sale’s items are sold without main purposes of business, the bill will be passed through payment voucher.

·    If the purchase items are not the main parts of goods, it will also be passed through payment voucher.

·    Generally, purchase and sales vouchers are used for trading a/c only.

Journalize the following Entries in Tally accounting programs

Company Name – Suresh Enterprises

Financial Year – 2016-2017

Address – Naugachia

E-mail = suresh@gmail.com

1.     Suresh started his business with cash Rs. 1000000/- dated -01/04/2016. (Cash a/c - R, Suresh Capital a/c ) – Gate of tally – V(Accounting Voucher – F6 – F2 [Date – 01/04] – Cr – Alt + C [create the ledger – Suresh Capital a/c – under – Capital, Dr – Cash])

2.     Suresh purchased the furniture by cash – Rs. 75000/- for office. Date – 02/04. (Cash a/c – R, Furniture a/c – R , F5 – F2-date - )

3.     Suresh purchased a computer set by cheque (SBI) Rs. 75000/- date – 03/04. (Computer a/c – R, SBI a/c – P – F5 – Date - )

4.     Suresh opened an account in SBI and deposit Rs. 500000/- date 05/04. (Cash a/c – R, SBI – P – F4)

5.     Paid security deposit for office Rs. 100000/- by bank. Date: - 06/04.

6.     Suresh maintain the following stock items: -

Items	Qty	Unit Price
Mouse	25	225
Keyboard	50	475
Monitor	15	4500
Cabinet	25	1575
Hard Disk 500GB	14	3750
Hard Disk 1TB	15	5900
DVD	24	1675

 

7.     Suresh sold the following items to Mukesh Enterprises by on credit date – 07/04 by receiving 15% profit.

 

Items	Qty	Unit Price
Mouse	10	225 (+15%)
Keyboard	9	475
Monitor	3	4500
Cabinet	3	1575
Hard Disk 500GB	3	3750
Hard Disk 1TB	7	5900
DVD	3	1675

 

8.     The rest items are sold by cash receiving the 10% benefits date: -08/04.

9.     Suresh purchased the following items from S K Infotech on credit date: - 10/4

Items	Qty	Unit Price
Mouse	30	300
Keyboard	50	525
Monitor	20	5000
Cabinet	30	1675
Hard Disk 500GB	20	4100
Hard Disk 1TB	20	6500
DVD	50	2100

10.                     Mukesh cleared all his dues date – 11/04 by bank.

11.                     Suresh paid RS. 750/-  by cash for courier charges date – 12/04.

12.                     Suresh create the price list for his purchased items which are as follows – date – 13/04.

How to create the Price-list?

Steps: -

Gateway of Tally – Press – F11 – Press – F2 (for Inventory Feature – Check out –‘yes’ the option ‘Use Multiple Price’ set it yes – Type ‘Price List For Customers’ – Gateway Of Tally’ – Select ‘Inventory Info(I) – Select ‘Price List’ – Select Price List for Customers – Change date (13/4) -

Items	Qty	Price List and offer	Unit Price
Mouse	30	0-10 – No Discount 11-15 Discount – 2% 15-30 – 5%	425
Keyboard	50	0-10 – No Discount 11-15 Discount – 2% 15-30 – 5%	725
Monitor	20	0-10 – No Discount 11-15 Discount – 2% 15-30 – 5%	7000
Cabinet	30	0-10 – No Discount 11-15 Discount – 2% 15-30 – 5%	2175
Hard Disk 500GB	20	0-10 – No Discount 11-15 Discount – 2% 15-30 – 5% 30-50 – 7%	4500
Hard Disk 1TB	20	0-10 – No Discount 11-15 Discount – 2% 15-30 – 5%	6900
DVD	50	0-10 – No Discount 11-15 Discount – 2% 15-30 – 5%	2600

 

13.                     Suresh sold the following items accordance with his price list to Mukesh Enterprises on credit date – 14/4

Items	Qty	Unit Price
Mouse	15
Keyboard	35
Monitor	12
Cabinet	25
Hard Disk 500GB	19
Hard Disk 1TB	15
DVD	40

Practical For Tally Accounting 2022

There are some business transactions are given. Try to recognize the accounts, write their names, and create the company in tally with their appropriate ledgers, groups and opening balances. –

1.     Rosy Enterprises started her business with cash Rs. 500000/- on 1^st April 2021. (Cash a/c, Capital A/c)

Hints: -

o Create a company (Place – Mundi Chak Bhagalpur, State Bank of India, Bhagalpur, PAN – CK4722C, E-mail – rosy@gmail.com.

o Create the ledgers.

Ledger – Rosy Enterprises Capital a/c – Under – Capital Accounts – Opening Balance – 500000    

The Format of Journal Entry

Date	Particulars	LF	Dr.	Cr.
1/4/2021	Cash a/c…..Dr To Capital a/c…… (Being business started…..)		500000	500000

 

Voucher: - Vouchers are the types of invoices or bills.

We use the following vouchers in Tally Accounting –

Contra Vouchers (F4), Payment Voucher (F5), Receipt Voucher (F6), Journal Voucher (F7), Sales Voucher (F8), Purchase Voucher (F9) and Physical Stock (F10 – Not applicable in current mode.)

Note: -

·    F9 (Purchase Voucher) – This is used when we purchase the items for sales. Suppose we purchased the 25 mouses for sales, its entry will be adjusted through purchase in trading accounts. But we purchase something for personal use we Payment Voucher (F5). Payment vouchers are used for the following purposes as – Paying salaries, Purchasing Furniture for personal usage, all the expenses payment etc. 

·    F4 (Contra Voucher): - This voucher is used when transactions are referred to Cash to Bank, Bank to Cash or Bank to Bank.

·    F7 (Journal Voucher) – This voucher is used for the following purposes – Purchase on credit (Except trading a/c items), For adjustment, preparing bills for GST or Tax, or we this voucher for provisions entries.

·    Rosy Enterprises deposited Rs. 300000/- to her SBI accounts cash on – 3/04. (Cash a/c and SBI a/c)

o Cash a/c – 300000/- (Cr.)

o SBI a/c – 300000/- (Dr.)

o Voucher – Contra (F4) – Cash to Bank.

o Date Change – F2

·    Rosy Enterprises purchased furniture Rs. 75000/- by bank on – 5/04 for office decoration. (Furniture a/c, Bank a/c)

o Voucher (F5)

o Furniture a/c – Dr.

o SBI – Cr.

·    Rosy Enterprises booked three staffs for her business; they are as follows –

Name	Salary p/m	Designation
SK Prabhakar	25000	Senior Accountant
Suchitra Singh	15000	Clerk
Ramu	9000	Peon

 

·    Rosy paid Rs. 25000/- cash as security deposit to his room owner and accepted to pay Rs. 7000/- p/m on 10/4

·    Rosy paid Rs. 7500/- cash for electrical fittings for her shop on 15/4. (Cash a/c, Electrical Fittings a/c)

·    Rosy Enterprise purchased a computer set Rs. 85000/ - on credit from Star Infotech, Bhagalpur on 17/04. (Computer a/c, Star Infotech a/c)

·    Rosy Enterprise paid Rs. 2500/- cash for painting her shop on 20/4. (Cash a/c, Painting a/c)

·    Rosy cleared all her balances of Star Infotech on 25/04 by payphone/bank.

·    Rosy Enterprises purchased the following items for sales from Star Infotech Bhagalpur on Credit –

Items	Qty	Unit Price	GST
Mouse Intex	25	125
Keyboard Intex	35	175
Cabinet General	20	975
Cabinet Ultra	15	1275
Mother Board (Intel 81)	5	3350

 

·    Rosy sold all the items to M K Infotech by receiving 25% benefit on credit on 27/4

·    M K Infotech paid all the balance amount to Rosy on 28/4 by bank.

·    Rosy also paid all balances amount to Start Infotech by bank on 29/4.

·    Rosy Enterprises purchased the following items for sales from Star Infotech Bhagalpur on cash on 30/04–

Items	Qty	Unit Price	GST
Mouse Intex	50	115
Keyboard Intex	50	150
Cabinet General	35	875
Cabinet Ultra	25	1175
Mother Board (Intel 81)	10	3050

·    Rosy Enterprises sold the items on the same date as given below receiving 35% benefits for each item (to M K Infotech by cash) –

Items	Qty	Sales Rate = Purchase *50%	GST
Mouse Intex	25
Keyboard Intex	20
Cabinet General	27
Cabinet Ultra	13
Mother Board (Intel 81)	5

·    Rosy Enterprises withdrew Rs. 3000/- cash for personal use on 30/04.

Basics of Reporting

Trial Balance: - Trial Balance shows the debit and credit report of your done business transactions. Steps: -

o Gate way Tally – D (Display) – T (Trial Balance) –Press – F4 to see with subtotals and Press – Alt + F1 with details.  (D – T – Alt + F1  - F4 – Enter)

o To see the trial with period wise press – Alt + F2.

o To see the trial balance with different columns wise we use the command – Alt + N and select the option as per your requirement.

Day Book: - The daybook shows all the vouchers or invoices or records day by day. To see it - (D – D – F2 – Press – Space Bar – Enter and Press – Alt + F1 to see all the details if it requires.

Balance Sheet: - Gateway of Tally – Press B (Balance sheet) - Alt + F1 for details – and apply the column command (Alt + N).

Entries for Rosy Enterprises: -

·    Rosy Enterprises Paid the room rent for her shop by bank on 01/05.

Rosy Enterprises sold her all the rest items to Suresh Enterprises on the same benefit rate as she sold to M K Infotech on 02/05 on credit.

·    Rosy received all the balance from Suresh Enterprises by bank on 03/05.

·    Rosy Enterprises brought more money Rs. 200000/- and added to her capital on 05/05.

·    She deposited Rs. 150000/- cash in her bank account on 06/05.

·    Star Infotech supplied her the following items on credit on 07/05 with 12.5% GST –

Items	Qty	Unit Price	GST
Mouse Intex	100	125
Keyboard Intex	100	175
Cabinet General	50	975
Cabinet Ultra	50	1275
Mother Board (Intel 81)	40	3350

 

·    Rosy Enterprises sold her all the computer items to M K Infotech by receiving 25% benefit on each item on 08/05 on credit.

·    Items	Qty	Unit Price	GST (12.5%)
Mouse Intex	100	125
Keyboard Intex	100	175
Cabinet General	50	975
Cabinet Ultra	50	1275
Mother Board (Intel 81)	40	3350

·    Rosy Enterprises received Rs 200000/- by cash and the rest by bank on 09/05.

·    Rosy Enterprises paid salary to her staffs by cash on 10/05

·    Rosy Enterprises paid all her balances to Star Infotech on 12/05 by bank.

·    Rosy Enterprises purchased stationary from Bhardwaj Stationary on credit Rs. 5000/- for office use on 13/05

·    Rosy Enterprises purchased the follow new computer items on credit from S K Infotech on credit on 14/05 –

SL. NO	Items	Unit Price	Qty	GST – SGST 8% and CGST 8%
1	SSD Hard Disk 250GB	3250	45
2	SSD Hard Disk 500GB	6250	50
3	SSD Hard Disk 1TB	9500	60
4	LG LED Monitor 15.5”	8500	25
5	LG LED Monitor 19”	11500	25
6	Keyboard Wireless Logitech	2600	10
7	Keyboard Wireless HP	2700	10

 

Note: - All the purchased items will be shifted to Rosy Warehouse One. Here, activate – Multiple Godowns from the configure list. Set there ‘Yes’.

·    Rosy Enterprises paid Rs. 3500/- as freight charges for her purchase’s goods on 14/05 by cash.

·    Rosy Enterprises paid Rs. 1500/- for office maintenance by cash on 15/05.

·    She sold the following items on credit to C K Infotech on 16/05 – Discount has been 15% and SGST and CGST are same 8% -

·    SL. NO	Items	Unit Price	Qty	GST – SGST 8% and CGST 8%
1	SSD Hard Disk 250GB	5600	25
2	SSD Hard Disk 500GB	8550	15
3	SSD Hard Disk 1TB	15500	25
4	LG LED Monitor 15.5”	14500	10
5	LG LED Monitor 19”	17500	15
6	Keyboard Wireless Logitech	4600	5
7	Keyboard Wireless HP	4800	5

 

Rosy received Rs. 400000/- by and rest amount by UPI from C K Infotech on 20/05.