A complete practice book of Tally Accounting Software With Full Accounting Knowledge Prepared for DOT NEPAL EDUCATIONAL ACADEMY Kathmandu, Nepal 2006 For Comment:
[email protected] This book is based on Tally eis 5.4, but it helps to operate recent versions. Part I Tally Entry System: How to open Tally? Click on Start Go to Programs Go to Tally for win95 Click on Tally 5.4 Or there may be shortcut on the Desktop. If that appear on there, double click on Tally icon Create Company We have to create company to prepare the function on Tally. Creating company means we are crating our separate file on Tally. Follow this process to Create New Company: Start Tally; window displays Gateway of Tally then choose Create Company and press p ress Enter. Then window displays a form, fill the form as follows: Name : Name of Company Mailing Name : Automatically displayed Address : Address of Company Income Tax no : PAN P AN NO (9 digit Stating from 3 or 5) Currency Symbol : Rs. Maintain : (Choose) Account Only; Account with Inventory; Inventory only* Financial Year From : The starting date of Fiscal Year. (Date must be in AD) Book beginning From : It will be same as financial year, if you start your co mpany from the middle of the financial year it will be different. Tally Vault Password : Password to open the T ally Software; if need. Use Security Control : if you choose Yes; T ally asks for User name & password to open. Base Currency Information Base Currency Symbol : Rs. (For Nepal) Formal Name : Rupees (for Rs) Number of Decimal Place : 2 (Digits after decimal) Show Amount in Million? Million? Yes/No Is Symbol Suffixed to Amount ? No Put Space between Amount & Symbol Yes
* If your company don't deals with Inventory Choose Accounts Only, if deals with both accounts & inventory Choose Accounts with Inventory or for Store choose Inventory Only but Recent Version of Tally remove this Inventory Only option.
Select Company Start Tally When window displays Gateways of Tally> Company Info. Choose Select Company & press Enter. Then choose your company from the list and press Enter. Your compan y will open. You can see the Folder Number in bracket which is lies on Directory. Menus on Tally When you open your company, you will see the main menus named Gateway of Tally it displays the 10 menus on Screen they are: Accounting Info Inventory Info Voucher Entry Import Of Data Balance Sheet Profit & Loss A/c Stock Summary Ratio Analysis Display Multi-Account Printing There are only 2 more menus on Tally 7.2. They are Import MastErs and InvenTory Vouchers. We can open the menu by pressing Highlighted key of that menu. For example we can open the Account info by pressing A. Account Info: Group: Group means the secondary Account Accoun t head (Primary are Assets, Liabilities & Capital) where the ledger is. Tally creates 34 Groups so we don't need to create the Groups. Voucher Types: Tally creates 19 types t ypes of voucher (see Voucher Entry) so we do n't need to create it. Ledger Ledger is the title of transaction. It is also a sub-group. Creation Account Info>Ledger>Create We have to create ledger to prepare account in different accounting transactions. Cash and Profit & Loss A/c are pre-created by Tally, because these ledgers take place in each and every company. To create ledger follow this process:
Name : Name of Ledger Alias : Tally (or blank)
Under : Group (Choose) Inventory values are affected ? Yes (for Purchase/Sales) No (for other) Opening Balance : If you have got last years closing balance (Purchase/ S ales/ Expenses ledger has no opening balance)* Mailing & Related Details Give the Address Details of the ledger (Bank, Debtor/Creditor, Advance etc. ledgers only.) *Asset has Dr. Balance and Capital/Liabilities Ca pital/Liabilities have Cr. Balance, but in case of p utting opening balance sometimes Sundry Debtor (Assets) makes advance payment and they become our liabilities so in this case the balance is Cr. Such like sometime we make advance payment to our supplier (Current Liabilities) and the balance is Dr. in this case. Tally can't recognize our Ledgers but it recognize them by Groups, is this Assets or Capital/Liabilities? So be careful when choosing Groups otherwise you m ake blunder mistake and it also affect on Reporting. Display: To View Created Ledger, Accounting Info>Ledger>Display Then Choose the Ledger and Press Enter. (Multiple: Display>All Items) Alter: To Edit Created Ledger, Accounting Info>Ledger>Alter Then Choose the Ledger to edit and Press Enter. (Multiple: Alter>All Items) Exercise Create the following ledgers Ledger Accounting Head (Under) 1. Computer Fixed Assets 2. Telephone Expenses Indirect Expenses 3. Salary Indirect Expenses 4. Custom Duty Direct Expenses 5. Land & Building Fixed Assets 6. Baneshwor Department Store Sundry Debtors (Assumed our Cu stomer) 7. Sales A/c (Income Generating Process) Sales Account 8. Purchase A/c Purchase Account 9.
Capital Account (Assumed as o wner) 10. Himalayan Bank Ltd Bank A/c (Where is your Deposit) 11. VAT A/c Current Liabilities (See VAT Statement) 12. Choudary Group Sundry Creditors (Assumed as Supplier) 13. Advance Income Tax Loans & Advances (Assets) 14. Paluwa Saving & Credit Coop. Ltd Loans (Liabilities) (As Loan Granter) 15. Electricity Expenses Indirect Exp. (Direct if used in Production) 16. Carriage Inwards -vl/bdf ef8f_ Direct Expenses 17. L/C No 001245 Sundry Creditors 18. TDS Current Liabilities 19. Interest on Deposit Indirect Income 20. Provision for Income Tax Provisions P rovisions 21. Gausala Kirana Pasal Sundry Debtors
22. Newspaper & Magazine Indirect Expenses 23. Motorcycle Fixed Assets 24. Syakar Company Ltd. Current Liabilities 25. Directors C/A (Current A/c) Current Liabilities Sundry Creditor is one, by whom we Purchase Goods. Remember the Term Goods in Accounting. Goods mean our Regular Transaction Item. The Supplier other then Regular Transaction Item is lies in Current Liabilities only. Inventory Info: You must create item to operate the inventory function on Tally. To create an item you have to specify the Group where the item is & the measuring unit to measure the item. This menu helps you to create them. E.g. for Fair & Lovely, it lies in Cosmetic and measured by Packet. Where Item : fair &lovely Group : cosmetic Unit : Pkt. Stock Groups Stock Groups means the set of similar Items. It also can be defined as the group of same category goods. We create Stock Groups to categorize the Stock Items. Create Gateway of Tally > Inventory info > Stock Group > Create Name: Name of group Under: Primary Can Quantity of items be ADDED Yes (To add the Qty& Amount of all items lies in this Group.) Display To View Created Stock Group, Inventory Info>Stock Group>Display Then Choose the Stock Group and Press Enter. (Multiple: Display>All Items) Alter To Edit Created Ledger, Accounting Info> Stock Group >Alter Then Choose the Stock Group to edit and Press Enter. (Multiple: Alter>All Items. You can't delete it so make it carefully.) Units of Measure We count everything in a specific unit of measure. Therefore we have to create units of measure to count our stock items in a reasonable unit. Create Gateway of Tally > Inventory Info > Units of Measure > Create Type : Simple (can choose Compound also.) Name : Name of unit Formal Name : Full Name Decimal Place : 2/0 (0 for pcs, p cs, pair etc & 2 for Kg, Ltr etc.)
Display To View Created Units, Inventory Info > Units of Measure > Display Then Choose the Unit and Press Enter. Alter To Edit Created Unit, Accounting Info > Units of Measure > Alter Then Choose the Unit to edit and Press Enter. Stock Items Gateway of tally > Inventory info>Stock Items > Create Name : Name of Item Under : Group Units : Unit Opening balance (if you have; put Quantity & Rate.) Display To View Created Items, Inventory Info > Stock Items > Display. Then Choose the Stock Item and Press Enter. (Multiple: Display>All Items) Alter To Edit Created Unit, Inventory Info > Stock S tock Items > Alter Then Choose the Stock Item to edit and Press Enter. (Multiple: Display>All Items)
Exercise Create the following Items with Groups and Units Tea Food Pack Rice Food Bags Pen Stationary Pcs Shirt Cloth Pcs Sun silk shampoo Cosmetic Pcs Bulb Electric Pcs Copy Stationary Pcs Sugar Food Kg Waiwai Food Pack (pkt) Voucher Entry Gateway of Tally > Voucher entry (Accounting voucher) We can enter 9 kinds of vouchers, they are: Contra, Payment, Receipt, Journal, Sales, Sales Return, Purchase, Purchase Return and Stock Journal. Keys of these vouchers are: - Contra=F4 , Payment=F5 , Receipt=F6 Journal=F7 , Stock Journal=Alt+F7, Sales=F8 , Purchase=F9. It displays at right side of Tally window. (But Tally Allows 19 Kinds of Vouchers).
To change the date Press F2 then put the date (or Press F2 then press Enter to go the Following Days date). Ctrl+M use for Gateway of Tally and by pressing Ctrl+N you can activate calculator. We have to entry the vouchers on right place. Tally allow as Contra : All Bank & Cash vouchers. Payment : All Cash, Bank Payment vouchers. Receipt : All Cash, Bank Receipt vouchers. Sales : All Sales vouchers & Sales return vouchers. Purchase : All Purchase vouchers & Purchase return. Stock Journal : All Stock Transfer and Consumption Con sumption & Production entries. Journal : Except above all vouchers are entries in Journal. How to Entry the vouchers? Go to Voucher Entry and choose the related voucher (like: to entry the suppliers invoice, choose purchase) then press F2 and put the voucher date. If you are entering Sales or Purchase voucher put the Invoice no in Ref. option. Then put the Dr. or Cr. ledger. (On purchase, receipt and contra voucher format we see Cr. first where sales and payment format we see Dr). Than put the amount and after that put second ledger, if you have choused Account with Inventory feature, you have to put the stock items and their value on Purchase & Sales ledger. At last type a suitable Narration. Each times press Enter to go nex t column. While entering Vouchers you can create new n ew ledger by pressing Alt+C delete voucher vouche r by Alt+D, save voucher Ctrl+A, Paste previous Narration Ctrl+R. Configuration (F12) To show inventory detail in voucher. Show Inventory Details ? Yes To show the current balance. Show Ledger & Vouchers Current balance ? Yes To entry cased voucher in Journal. Allow Cash Accounts in Journals ? Yes To use Dr/Cr in voucher entry. Use Cr/Dr C r/Dr instead of To/By during entry ? Yes Alert on Negative Cash. Warm on Negative Cash Balance ? Yes Alert on Negative Stock Balance. Warm on Negative Stock Balance (Inv) ? Yes Exercise Entry the following vouchers put the suitable Date and Narration. Purchase: No. 1 Cr. L/C No 001245 67,800 Dr. Purchase 60,000 Sun silk shampoo 200pcs×90 18,000 Sugar 500kg×40 20,000 Bulb 100Pcs×20 2,000 Shirt 50pcs×400 20,000 Dr. VAT A/c 7,800 No. 2 Cr. Choudary Group 61,020
Dr. Purchase 54,000 Waiwai 2,000pkt×11 22,000 Tom yam 1000pkt×10 10,000 Waiwai Quick 2,000pkt×11 22,000 Dr. VAT A/c 7020 No. 3 Cr. Balaram khadya udhog 7,03,000 Dr. Purchase 7,03,000 Rice 1000bgs×700 7,00,000 Salt 300kgs×10 3,000 No. 4 Cr. Cash 31,640 Dr. Purchase 28,000 Pen 200pcs×15 3,000 Copy 1000pcs×25 25,000 Dr VAT A/c 3,640 No. 5 Cr. Balaram khadya udhog 10,170 Dr. Purchase 9,000 Tea 75pkt×40 3000 Coffee 50pkt×120 6,000 Dr. VAT A/c 1170 No. 6 Cr. Nepal Cusmatic 31,357.50 Dr. Purchase 27,750 Fairever 200pkt×80 16,000 fair&Lovely 175pkt ×50 8,750 Lux 100pkt ×30 3,000 Dr. VAT A/c 3607.50 No. 7 Cr. Nepa Fasion Collection 1,44,357.5 Dr. Purchase 12,7,750 Shirt 200pcs ×400 80,000 T-shirt 85pcs ×350 29,750 Jacket 20pcs ×900 18000 Dr. VAT A/c 16,607.5 No. 8 Cr. Universal Electronics 23,956 Dr. Purchase 21,200 Bulb 200pcs ×20 4,000
T.V. 2set ×7,000 14000 DVD player 1set ×3,000 3,000 Cord wire 1pcs ×200 2,00 Dr. VAT A/c 2,756 No. 9 Cr. Nepal Cosmetic 73,450 Dr. Purchase 65,000 Sun silk Shampoo 200pcs ×90 18,000 Detol Soap 200pcs ×75 15,000 Life boy soap 200pcs ×30 6,000 Clinic plus 200pcs ×80 16,000 Fair &Lovely 200pcs ×50 10,000 Dr. VAT A/c 8,450 No. 10 Cr. Universal Electronic 62,150 Dr. Purchase 55,000 Telephone set 50set ×300 15,000 Fm Radio 200set ×175 35,000 Blank C.D 1000pcs ×5 5,000 Dr. VAT A/c 7,150 No. 11 Cr. Cash 10,735 Dr. Purchase 9,500 Paper 20rim ×400 8,000 Pen 100pcs ×15 1,500 Dr. VAT A/c 1,235 Sales: No. 1 Dr. Baneshwor Department Store 19,888 Cr. Sales A/c 17600 Waiwai 1000pkt×12 12,000 Tomyam 400pkt×11 4400 Waiwai Quick 100pkt×12 1200 Cr. VAT A/c 2288 No. 2 Dr. Gausala Kirana Pasal 234550 Cr. Sales 234550 Rice 300Bags×750 225000 Salt 50Kgs×11 550 Sugar 200Kgs×45 9000
No. 3 Dr. Cash 18080 Cr. Sales 16000 Pen 5opcs×20 1000 Copy 500pcs×30 15000 Cr. VAT A/c 2080 No. 4 Dr. Cash 3729 Cr. Sales 3300 Tea 20pkt×45 900 Coffee 10pkt×130 1300 Waiwai 50pkt×12 600 Bulb 20pcs×25 500 Cr. VAT A/c 429 No. 5 Dr. Cash 12260.50 Sales 10850 Sun silk shampoo 50pcs×100 5000 Fair & Lovely 30pkt×55 1650 Lux soap 20pkt×35 700 Detol soap 100pkt×35 3500 Cr. VAT A/c 1410.50 No. 6 Dr. Kamal Dress 70060 Cr. Sales 62000 Shirt 40pcs×450 18000 T-shirt 85pcs×400 34000 Jacket 10pcs×1000 10000 Cr. VAT A/c 8060 No. 7 Dr. Cash 9379 Cr. Sales 8300 F. M Radio 3pcs×200 600 Telephone set 5pcs×800 4000 Blank C. D 200pcs×8 1600 Cord wire 10pcs×210 2100 Cr. VAT A/c 1079 No. 8 Dr. Cash 21526.5 Cr. Sales 19050 Sun silk shampoo 50×100 5000
Detol soap 200×35 7000 Life boy 50×35 1750 Fair &Lovely 50×55 2750 Fairever 30×85 2550 Cr. VAT A/c 2476.5 No.9 Dr. Pashupati stationary 14577 Cr. Sales 12900 A4 paper 12rim×425 5100 Pen 90pcs×20 1800 Copy 200pcs×30 6000 Cr. VAT A/c 1677 No. 10 Dr. Kathmandu T. V shop 290975 Cr. Sales 257500 TV 15set×16000 2, 40,000 DVD 5set×3500 17500 Cr. VAT A/c 33475 Received Voucher: No. 1 Cr. Gausala kirana 15000 Dr. Himalayan Bank ltd. 15000 No. 2 Cr. Baneshwor Department store 21000 Dr. Cash 5000 Dr. Himalayan Bank 16000 No.3 Cr. Kamal Dress 11000 Dr. Cash 11000 No.4 Cr. Kathmandu TV soap 1, 20,000 Dr. Himalayan Bank 1, 20,000 No.5 Cr. Baneshwor Department store 12000 Dr. Cash 12000
No.6 Cr. Directors' C/A* 25000 Dr. Himalayan Bank 25000 No.7 Cr. Gausala kirana 4500 Dr. Cash 4500 (*Sometime business needs cash and director pays interest free loan to the business it must back within a fiscal year. The Group for this Ledger is Current Liabilities.) No.8 Cr. Kathmandu TV soap 55000 Dr. Himalayan Bank 50,000 Dr. Cash 5000 No. 9 Cr. Kamal Dress 10,000 Dr. Cash 10,000 Payment Voucher: No. 1 Dr. Telephone Expenses 500 Dr. VAT A/c 65 Cr. Cash 565 No. 2 Dr. Salary 4500 Cr. Cash 4500 No. 3 Dr. Universal Electronic 12000 Cr. Himalayan Bank 12000 No.4 Dr. Nepal cosmetics 45000 Cr. Cash 45000 No. 5 Dr. Balaram khadya udhog 35000 Cr. Cash 35000 No. 6 Dr. L/C No 001245 60000 Dr. L/C charge & commission 2500 Cr. Himalayan Bank 62500
No.7 Dr. Nepa fashion collection 1, 20,000 Cr. Himalayan Bank 1, 20,000 Contra: No. 1 Cr. Himalayan Bank 20,000 Dr. Cash 20,000 (Cash withdraw) No. 2 Cr. Cash 7,500 Dr. Himalayan Bank 7,500 (Cash Deposit) Journal: No. 1 Dr. Telephone Expenses 1,500 Cr. Telephone Expenses Payable 1,500 No. 2 Dr. Nepa Fashion collection 11,000 Cr. Gausala Kirana 11,000 Stock Journal Source (Consumption) Destination (Production) Name of Item Qty Rate Amount Name of Item Qty Rate Amount Water 12cup 30 Tea 15 cup 65 Milk 1 Pkt. 15 Sugar 0.25 Kg 10 Green Tea 0.15 Kg 10 We can make production entries like this. We also can make single entry here, he re, for example we bought Sunsilk Shampoo and get a Hair Oil free, we put the entry of Sunsilk Shampoo purchase on Purchase Voucher and make a entry on Stock Journals Production side for free Hair Oil. We also can create the Inventory Items adjustment entries in Stock Journal. Normal shortage deduction, free scheme etc. Additional Cost of Purchase: When we purchase goods there may another costs and that affects on the Rate of Item. After tracked them, the rate of item will increase. Tally allows us to entry such costs on Purchase voucher. First of all we need to change the Features by pressing F11 on Voucher Entry menu and
change the Inventory Feature: (Tally 9 Press F11 Then Press F2) Track additional costs of Purchase? Yes Then entry the purchase voucher, when we put the Inventory Value and press enter a new box appear where we put the additional costs Name and Amount; such like Carriage Inwards (@ 10% of amount or) Rs. 500. Finally we must credit the same amount on related ledger and if we pay pa y them we have to show the payment entry on Payment Voucher. For Example: If we purchase Fair & Lovely 120 Pcs @ 35.62 and pay Rs. 500 as carriage and Lux Soap 300 Pcs @ 30 Rs and pays Rs. 700. We have to make a purchase entry and put the carriage as additional cost. It increases the rate of item which shows as Actuals: below. At last the amount of additional cost should be credit respectively. This feature is applicable in Accounts with Inventory feature only. Additional Costs sf] af/]df hfgsf/L ;fdfg vl/b ug]{ 7fpFsf] cfwf/df vl/bnfO{ @ efudf afF9\g ;S5f}FM :yflgo vl/b / cfoft (Local Purchase & Import Purchase) . b]zleq}af6 ul/Psf] vl/bnfO{ xfdL :yflgo vl/bdf /fV5f}F / cGo b]zaf6 ul/Psf] vl/bnfO{ -h:df s/sf] s/sf] lx;fjn] Invoice geO{ eG;f/ k|1fkg k|1fkg kq a9L dxTjk"0f{ x'G5_ xfdL cfoft eGg] ub{5f}F . h'g;'s} dfWodaf6 ;fdfg vl/b ul/Ptfklg vl/bdf nfUg] cGo vr{x¿ ;a} xfd|f nflu Direct Costs x'g h;n] ;fdfgsf] d'Nodf k|efj kfb{5g . tL vr{x¿sf] af/]df hfgsf/L xfdL lgDg :yfgaf6 kfpg ;S5f}FM L/c Related Costs Bank Statement Custom Related (Duty, LD Fee, Special Fee etc) e+;f/ k|1fkg kq Freight and other Shipment Related (Beyond (Be yond the home Nation) Transporters Documents Carriage, Collie & other (In the Nation) Delivery Ch allan (rnfg / ekf{O) e+;f/ k|1fkg kq ljb]zjf6 cfoft ul/Psf ;fdfgx¿ e+;f/df hfFrkf; ePkl5 dfq ;DalGwt ;+:yfn] Nofpg] cfb]z kfpF5 . j:t'sf] hfFr ubf{ Invoice df ePsf] j:t' jf kl/df0f / jf:tljs j:t' jf kl/df0f ldN5 ldNb}g ;f] s'/fnfO{ x]g]{ ul/G5 . o;df km/s k/]df P]gdf plNnlvt ;hfo lbOG5 ;fy} hl/jfgf ;d]t ul/G5 . olb ;xL ePdf P]gn] Joj:yf u/] cg'?ksf z'Nsx¿ nufOG5 / pQm z'Nsx¿nfO{ a:t'sf] d'Nodf hf]8L pQm /sddf Eof6 nufOG5 . oL z'Nsx¿df e+;f/ z'Ns, :yflgo ljsf; z'Ns, ljz]if z'Ns, cGtMz'Ns cflb k5{g \ . oL z'Nsx¿ j:t'sf] k|sf/cg';f/ km/s km/s k|ltztn] nufO{G5 . cfwf/e"t cfjZostfsf j:t'x¿df of] k|ltzt sd / ljnfzLtfsf j:t'x¿df a9L x'G5 . o;nfO{ cy{ dGqfnon] a]nf a]nfdf ;dfof]hg ul/ /fhkqdf k|sflzt klg u5{ . cGTodf j:t'sf] hfFrkf; ul/;s]kl5 ;fdfgwgLnfO{ e+;f/n] pQm ;fdfg, hfFrkf;sf] ljj/0f, nfu]sf] z'Ns / cGo hl/jfgf ;d]t -eP_ pNn]v ul/Psf] sfuhkq lbG5 pQm sfuhkqnfO{ e+;f/ k1fkg kq elgG5 . Bank Statement Bank is the essential parts of business. Most of business activities are handling through bank today. To do such activities we have to create a bank account in a bank. Bank always dose fair and legal activities and provides us a note of our activities through bank, which w hich we say bank statement or pass book. Bank statement is verification ve rification (proof) of our banking activities.
The entries of bank statement take place only on Receipt, Payment and Contra voucher. A specimen of bank statement is present below: Himalayan Bank Ltd. Bank Statement New Baneshwor, Ktm. Current A/c From 1 jul. 200… to 31jul. 200… Date Particular Debit Credit Balance 01 july Opening balance 22,380.00 05 july Cash deposited 10,000.00 32,380.00 17 july Ramesh, Home chq. 00345 5,000.00 27,380.00 21 july Gausala Kirana, deposited 1,50,000.00 1,77,380.00 24 july L/c 001245, Margin 7,800.00 24 july Bank commission 001245 1,500 1,68,080.00 28 july Baneshwor dep. Store, deposit 10,000.00 1,78,080.00 31 july L/c 001245, settlement 60,000.00 31 july Bank commission 001245 2,500.00 1,15,580.00 31 july Closing Balance 1,15,580.00
Part II Tally Reporting: Display – Display – the the all powerful eis tool Tally’s Display of information has been designed to give you maximum benefit of the data that has been entered through vouchers. You would have found that voucher entry itself is so much like your thought process. Display of information and the amazing variety of it all, puts you in charge of your business information. The best wa y to extract utmost from Displays is to experiment with the different options. It is not possible to co ver the almost infinite options and ways in which you can present your data in a single manual. It is through Displays that Tally users get money saving ideas! The purpose pu rpose of putting in all your data is, after all, to present them in the form of comprehensible accounting reports. repo rts. Tally far exceeds these expectations. By wa y of entry, all you do is to enter your vouchers. You do that, any way for your accounting purposes. Tally uses the same data and gives you management control reports in addition to all books and statements. Tally is real-time – real-time – all all reports are up-to-date at all times. The y are displayed as at the last voucher entered. If you select the buttons using the keyboard, the conventions are: Fn: - just press the Fn key. Fn: - press [Alt]+Fn. Fn: - press [Ctrl]+Fn. F1: Detailed/Condensed Adds a further level of detail to the report, or condenses the report to a higher level of detail. F2: Period Enables you to change the period of the report by specifying new (from/to) dates. F3: Company If you have more than one company selected, this button enables you to change companies to
display the new company data in the current screen format. F4: to F10: The functions performed by these buttons var y from report to report. F11: Company Features This button is not related to displaying reports but to selecting options that affect voucher entry. The screen it displays must not be changed during training. F12: Configure This button is very relevant to displaying reports and enables you to define the report-specific options you wish to use. For example, depending on the report you are in, you can specify whether it should be in horizontal horizon tal or vertical format, show percentages, show gross profit, show opening and/or closing balances, change the periodicity, change the sorting method, and so on. If you select F12: Configure while in the Gateway of Tally screen, this takes you to a Configuration menu. If you select General, it brings up an option screen which, amongst other things, enables you to specify that you wish to see graphs with monthly reports. F12: Range This button enables you to filter the information you see displayed based on monetary value. For example, you can specify you only want closing balances greater than £5,000. F12: Value This button enables you to filter which vouchers vou chers you wish to be used use d in the calculations. For example, you can specify you only want vouchers having a narration containing the expression ‘XYZ Project’. New Column This button enables you to add another column to the report to display displa y comparable information for another company, or for a different period for the same company, all on the same screen. Alter Column This button enables you to alter the details of a new column you have previously created, for example, the date range. You select the column to alter b y positioning the cursor in it prior to selecting the button. Del Column You use this button to delete columns you no longer wish to see in the report. Auto Column You use this button to add multiple columns to a report, for example, column s for each month, or to accommodate several companies. You can also have a total column for the total of each item across all columns. Accessing reports The Gateway of Tally menus provide access to all the financial reports, as in the diagram opposite. For example, if you want to view the Sales Register then, in the Gateway of Tally menu select Display, Account Books and Sales Register in turn, and Tally will display the report for the currently selected period. Only the Balance Sheet and Profit & Loss Account are displayed directly from the Gateway of Tally. Tally accords these statements the highest importance. As you can see from the menu, displays are roughly organized into Accounts information displays and Inventory information displays – displays – conforming conforming to the two major areas of operations. Each area is grouped separately into books and statements. Conforming to showing the main financial statements separately, separately, the Cash
and Funds Flows are not grouped under Statements of Accounts. The Day Book contains all the vouchers for the day, including including inventory vouchers. Its purpose is to show you a day’s transactions. However, you can display any report for any period by using the change period option. Modifying reports Once you have selected a report and its screen appears, you can modify the display to suit your requirements using the appropriate buttons on the button bar. You will get to know the functions of the various buttons as you become be come more familiar with Tally but some buttons perform similar functions in all reports, providing they are appropriate to the screen you are viewing. Display Account books & statements Books of account record the individual transaction details you have entered. Although you may post items to many different ledgers, Tally brings brings all the transactions of one category together into a book of account for viewing and printing. For example, the Cash Book records all the transactions affecting cash; the Sales Book records all the sales transactions. Statement of Accounts pertain to cost centres and outstanding analysis. These are derived from individual transactions but are not statutory requirements. Financial statements on the other hand are still derived from individual transactions but tend to show summary totals, ratios and statistics, analyzing a company’s financial financial data in a wide variety of ways. Typical financial statements include the Balance S heet, Profit & Loss A/c, and Cash Flow Analysis. Financial statements are usually statutory requirements in most countries. All books are displayed first as a monthly summary with opening and closing balances. Select a month and press [enter] to display all transactions for the month. The opening and closing balances as well as transaction totals are also displayed. Select a transaction to bring up the voucher. This voucher comes up either in display or in alteration mode depending upon the access rights available to you. Viewing Bank books Gateway of Tally> Display> Account Books> Bank Books This displays the Bank Group Summary. Select a bank account if there are more than one. Press Enter to display the Ledger Monthly Summary. Summar y. Select F12: Configure to bring up the configuration/Graphs option menu. Use the Tab key to tab down to Show with graph? And type Yes and press Enter. Select Bar and press Enter to return to the Ledger Monthly Summary, now displaying a graph of the figures. With the highlight bar over one month’s, say July’s figures, press Enter to display the Ledger Vouchers screen. Note that all the vouchers for July are listed. listed. Press [Esc] to return to the Ledger Monthly Summary screen. Select F12: Value to bring up the Value to Calculate in Report screen. From the Particulars menu, select Voucher Type. From the next Particulars menu, select Name (the only option). From the Range of Info. Menu select equal to. Then type Contra and press Enter. From the Condition menu select End of List and press Enter twice. Notice in the Ledger Monthly Monthl y Summary that the figures are now reduced as they
only show Contra vouchers. To check this, position the highlight bar over the July figures and press Enter to display the details. Keep pressing [Esc] until you you return to the Gateway of Tally menu. Viewing the Balance Sheet Gateway of Tally> Balance Sheet Notice the format of the display. Select Detailed to give break-up of the grouped figures. Select F12: Configure to bring up the Configuration screen. Select the following options and observe the new display. Configuration Show vertical balance sheet? Yes Show percentages? Yes Show working capital figures? Yes Method of showing balance sheet? Assets/Liabilities Scale factor for values Default Select New Column and enter a date range, e.g., 1-1-2006 to 1-5-2006 to show the change in the balance sheet since 1st May. Viewing the Profit & Loss A/c Gateway of Tally> Profit & Loss A/c Configuration Show vertical balance sheet? Yes Show percentages? Yes Show Gross Profit? Yes Appearance of Names? Name Only Scale factor for values Default Viewing Stock Report Gateway of Tally> Stock Summary Tally prepares the Stock Register if we activate th e Account with Inventory feature while creating company. By following above process we can check the status of inventory. We can check item wise also, to do so choose the item and press p ress Enter: Configuration Show Quantities? Yes Show Rates? Yes Show Values? Yes Show Opening Balance? Yes Show Goods Inwards? Yes Show Goods Outwards? Yes Show Closing Balance? Yes Show Consumption and Gross Profits? Yes/No Show using Alternate Units? No
Show Tail units of Compound Units? No Appearance of Names Name Only Scale Factor for Values Default Sorting Method Default Expand all levels in Detailed Format? No Trial Balance Gateway of Tally> Display> Trial Balance Trial balance shows the state of business or transaction. We find each and every ever y business reports through trial balance. Trial balance also shows the accuracy of putting opening balance. If it shows the Diff. in Opening Balances it means we make mistake when putting opening Balance. F5= Ledger wise/Grouped view. Configuration Show Opening Balances? Yes Show transactions? Yes Nett transactions only? Yes/No Show Closing Balances? Yes Show Percentage Yes Type of %-age Of Totals Appearance of Names Name Only Scale Factor for Values Default Sorting Method Default Expand all levels in Detailed Format? No Ledger Gateway of Tally> Display> Account Books> Ledger Tally also prepares the detail ledger by b y which we know the transactions of a particular ledger. F4= Choose another ledger F6= Daily Break-up (To view the daily transactions and balances) F7= Monthly (To view monthly transaction/Net) F8= Columnar Columnar Show Voucher Type? If need Yes or No Show Voucher Number? If need Yes or No Show Voucher Ref.? If need Yes or No Show Partys' Tax Regn No? If put Yes or No Show Voucher Narration? If need Yes or No Show Quantity Details? If need Yes or No Show Rate Details? If need Yes or No All Items (Automatic Columns) or Choose ledger and ledger name. F12= Configuration Configuration Select Vouchers to Show Dr, Cr or All (Choose) Format Detail or Condensed Show Billwise Details Also? If need Yes or No
Show Cost Centre Details Also? If need Yes or N o Show Inventory Details Also? If need Yes or No Show Narrations Also? If need Yes or No Include Opening Balances? If need Yes or No Appearance of Names Name Only Sorting Method Default Sales/ Purchase Register Gateway of Tally> Display> Account Books> Sales/ P urchase Register For the purpose of VAT we must prepare the Purchase and Sales S ales Register including Seller/Buyers Name, Tax regn No, Gross amount an d Tax with transaction date. Tally prepares all registers itself which help us to reconcile and find e rrors. When we follow above process Tally displays displa ys monthly view of Purchase/Sales Register where: F4= Voucher Type (Journal, Sales, Purchase) F5= (Quarterly/ Monthly View) Then choose required month and press enter to view the transactions of this month. F5= Columnar The columnar and configuration are as like as ledger views. The End
