Tally
ERP 9
👉 What is Tally?
- Tally
is an ERP accounting software package that is used to record day to day
business data of a company. The latest version of Tally is Tally
ERP 9.
👉 History of Tally
o
Tally Solutions
was co-founded in 1986 by Shyam Sunder Goenka and his son Bharat Goenka.
o Tally solutions Pvt. Ltd. Owns tally ERP software.
👉 Uses of Tally
o
Daily
accounting
o
Balance
Sheet Finalization
o
Inventory
Maintenance
o
Generating
different reports for tax filing
o
And
many more!
Learning Tally ERP
9
Uses of function keys in Tally ERP 9
Tally Prime has shortcuts to almost all functions. You do not need to use the mouse to activate any function if you use these tally shortcuts. These keys are an alternative to using the mouse by using your keyboard instead.
Making a GST bill-
Creating a ledger
Ø
All ledgers are
maintained in the specific group known as ledgers in Tally. The entries from
these ledgers groups are then calculated from where they can be put in a
balance sheet or profit and loss statement.
· There are 2 types of predefined ledgers in tally - The Profit and Loss (P&L) Ledger & The Cash Ledger
Creating a company
Ø
Creating a company
in Tally ERP9 is
the first task you encounter when you start the accounting process. Just in
case you have multiple businesses, the Tally ERP9 software also allows you
to create a company in Tally or have several company accounts at a
one-time cost in it.
Using round off
Ø The most common accounting entries are made in Sales and
Purchases. Additionally, Auto Rounding is used in various types of vouchers
like Credit, Debit, Delivery and a Receipt note. Rounding off involves
adjusting the smaller fractions of amounts in paise to the nearest bigger
values in rupees. A classic example of upward rounding is rounding
off ₹10.55 to ₹11. Rounding off ₹10.55 to ₹10 is an example of downward rounding.
If the Round off ledger shows a debit balance, this is an expense to the
business. If it shows a credit balance, you can treat it as an income. This is
then used in the profit and loss account for calculating the profit at the end
of a financial year.
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