1.

Creating a company in tally

Before starting anything in tally you need to create a company First open tally, select "company info." from the button bar and select "create company" Directory: now before entering a name for your company you may select a directory which is nothing but a location on your computer where you can save your company (so that you can transfer it into another computer if you wish) Name: Then enter a name for your company usually it should end with "Co. LTD." Mailing Name: then enter a mailing name for your company which could be the same as your name of the company, its the name on which you want to receive mails Address: then enter an address where your company is located Statutory Compliance for: then enter your countries name State: then select a state where your company is located similarly enter the remaining details Maintain: "Accounts only" or "Accounts with inventory" If your company is a reselling unit where it purchases products from another business and sells the same, then you need to even pass the inventory entries as each of your products are getting sold or as you purchase the products. In such case select accounts with inventory Financial year & books beginning from usually contains the same date Tally vault password: If you dont want any one to open your company you may set a password, if you forget your password your company is as good as deleted one Use security control: here you can protect your company not only with a password but also with your name

2. Altering a company in tally

Altering a comapny means changing the details of your company in case of any mistakes or updates

select company info. from the button bar and then select alter and then select the company to which you want to make the changes from the list of companies and then when your company details are open you can make the necessary changes

3. Deleting a company in tally

To delete a company first alter your company as explained before and then when your company information is displayed just hit "Alt"+"D" keys from your keyboard without the inverted comas and the + sign and keep hitting enter twice

4. Selecting and shutting company in tally

5. Creating Receipt Vouchers in tally

Whenever cash comes in the business we prepare receipt vouchers To enter the following transactions: go to Gateway Of Tally, Accounting Vouchers, (and from the button bar select "receipt voucher" or hit "F6") 1. Started business with cash Rs. 5000 Cash A/c Dr. To Capital A/c Cr. 2. Rs. 5000 received from Mr. Kumar Cash A/c Dr. To Mr. Kumar A/c Cr. 3. Rs. 2000 cheque and Rs. 500 cash given by Star & Co. Bank A/c 2000 Dr. Cash A/c 500 Dr. To Star & Co. A/c 2500Cr. 4. Rs. 1500 commission received Cash A/c Dr. To Commission received A/c Cr. 5. Rs. 1000 cash sales on Waste Machinery Cash A/c Dr. To Waste Machinery A/c Cr. 6. Rs. 2500 interest received by cheque Bank A/c Dr. To. Interest Received A/c. Cr. Creating a ledger: while in a voucher hit "Alt"+"C" to create a ledger (shortcut method) or Gateway Of Tally,Accounts Info.,Ledger,Create

for an account like cash, its ledger is already available in tally but for other accounts we need to create ledgers, to create ledgers hit "Alt"+"C" create Capital A/c under capital a/c

Mr. Kumar A/c under Sundry Creditors Bank A/c under bank accounts Interest received A/c and commission received A/c under indirect incomes Waste machinery A/c under fixed assets To edit a ledger: go to Gateway Of Tally,Accounts Info,Ledgers,Alter, (select the ledger you want to change) To delete a ledger : go to Gateway Of Tally,Accounts Info,Ledgers,Alter,(select the ledger you want to delete),(when the ledger is displayed hit "Alt"+"D" and then when the confirmation screen comes hit "Y" or "Enter" to say yes) deleting company learn tally 7.2 demostration education classes tutorials course purchases sales journal contra godowns debit credit bank money fund financial accounting tally 9

6. Creating Payment Vouchers in tally

When cash is paid out by a buisiness or fixed assets are purchased we prepare payment vouchers To enter the following transactions: Gateway Of Tally, Accounting Vouchers, (and from the button bar select "payment voucher" or hit "F5") 1. Rs. 4500 paid for bonus Bonus A/c Dr. Cash A/c Cr. 2. Rs. 2000 cheque paid for salaries Salary A/c Dr. Bank A/c Cr. 3. Rs. 450 paid for electric charges Electric Charges A/c Dr. Cash A/c Cr. 4. Rs. 1150 paid for telephone bill by KVB bank cheque Telephone Charges A/c Dr. KVB Bank A/c Cr.

5. Rs. 3000 purchase on furniture, here Rs. 2000 Canara Bank cheque paid and Rs. 1000 paid by cash Furniture A/c 3000 Dr. Canara Bank A/c 2000 Cr. Cash A/c 1000 Cr. 6. Rs. 1000 Paid to M/s Chitra & Co. Chitra & Co. A/c Dr Cash A/c Creating a ledger: while in a voucher hit "Alt"+"C" to create a ledger (shortcut method) or Gateway Of Tally, Accounts Info., Ledger, Create Bonus A/c & Salary A/c are created under indirect expenses Electric Charges & Telephone charges are created under direct expenses KVB Bank A/c & Canara Bank A/c are created under bank A/c Chitra & Co A/c is created under Sundry debtors Furniture A/c is created under fixed assets To edit a ledger: Gateway Of Tally, Accounts Info, Ledgers, Alter, (select the ledger you want to change) To delete a ledger : Gateway Of Tally, Accounts Info, Ledgers, Alter, (select the ledger you want to delete), (when the ledger is displayed hit "Alt"+"D" and then when the confirmation screen comes hit "Y" or "Enter" to say yes)

7. Creating Contra Vouchers in tally

When cash is transfered between banks or deposited in or withdrawn from banks contra vouchers are prepared To enter the following transactions: Gateway Of Tally,Accounting Vouchers, (and from the button bar select "contra voucher" or hit "F4") 1. Rs. 2500 cash deposited into Canara Bank Canara Bank A/c Dr. To Cash A/c Cr. 2. Rs. 500 cash withdrwan from Canara Bank Cash A/c Dr.

To Canara Bank A/c Cr. 3. Rs. 5000 demand draft of State Bank of Mysore deposited to Canara Bank Cash A/c Dr. To. State Bank of Mysore A/c Cr. 4. Rs. 1500 Canara Bank cheque and Rs. 750 cash deposited to Karnataka Bank Karnataka Bank A/c 2250 Dr. Canara Bank A/c 1500 Cr. To Cash A/c 750 Cr. 5. Rs. 1000 of Canara bank cheque given to Karnataka Bank for fund transfer Karnataka Bank A/c for fund transfer Karnataka Bank A/c Dr. To Canara Bank A/c Cr. 6. Rs. 250 cash withdrawn from Karnataka bank for local expenses Cash A/c Dr. To Karnataka Bank A/c Cr. Creating a ledger: while in a voucher hit "Alt"+"C" to create a ledger (shortcut method) or Gateway Of Tally,Accounts Info.,Ledger,Create All the Bank A/c are created under Bank accounts To edit a ledger: Gateway Of Tally,Accounts Info,Ledgers,Alter, (select the ledger you want to change) To delete a ledger : Gateway Of Tally,Accounts Info,Ledgers,Alter,(select the ledger you want to delete), (when the ledger is displayed hit "Alt"+"D" and then when the confirmation screen comes hit "Y" or "Enter" to say yes) deleting company learn tally 7.2 demostration education classes tutorials course purchases sales journal contra godowns debit credit bank money fund financial accounting tally 9

8. Creating Journal Vouchers in tally

Journal vouchers are passed whenever you pass adjustment entries and also in the case of returns of goods

Under journal vouchers you also have credit note voucher which is prepared when sold goods are returned and debit note vouchers are prepared when you return purchased goods To prepare a journal voucher: go to Gateway of Tally, accounting vouchers, and hit "F7" or click on the journal voucher button on the button bar towards the right to create a credit/debit note voucher hit "F11" or click on the features button on the button bar and enable "use debit/credit notes" option to yes and now to create a credit note voucher either hit "F8" or click on the credit note button on the button bar similarly for debit note "F9" 1. Depreciation of Rs. 2000 on machinery and Rs. 500 on building to be entered Here you need to prepare a journal voucher (since a depreciation/adjustment is made) Here you need to prepare a journal voucher Depreciation A/c Dr. 2500 Machinery A/c Cr. 2000 Building A/c Cr. 500 2. M/s Gokul & Co. returns the goods worth Rs. 500 as a damaged goods Here you need to prepare credit note voucher (since sales returns) Sales returns A/c. Dr Gokul & Co. A/c Cr. 3. Rs. 1200 worth goods purchased return to M/s Arasan & Co. due to late delivery Here you prepare a debit note voucher (since purchases return) Arasan & Co. A/c Dr. Purchases Returns A/c Cr. 4. The purchase goods worth Rs. 502.80 return back to M/s India cement for excess supplying Here you prepare a debit note voucher (since purchases return) M/s India cement A/c Dr. Purchases return A/c Cr. 5. Rs. 750 worth of sold goods return back from the M/s Jain & Co. Here you need to prepare credit note voucher (since sales returns) Sales Retruns A/c Dr. Jain & Co. Cr. 6. A fund transfering is made for adjustment in business by borrowing Rs. 3000 from M/s John Agency and given to M/s Jain & Co.

Here you need to prepare a journal voucher (since an adjustment is made) Jain & Co. A/c Dr. M/s John Agency A/c

Creating a ledger: while in a voucher hit "Alt"+"C" to create a ledger (shortcut method) or go to Gateway Of Tally, Accounts Info., Ledger, Create create the ledgers this way Depreciation A/c under indirect expenses Machinery A/c & Building A/c under fixed assets Sales returns A/c under sales Purchases returns A/c under purchases Arasan & Co. A/c, M/s India cement A/c & M/s John agency A/c under Sundry Creditors Gokul & Co. A/c & Jain & Co. A/c under sundry debtors To edit a ledger: Gateway Of Tally, Accounts Info, Ledgers, Alter, (select the ledger you want to change) To delete a ledger : Gateway Of Tally, Accounts Info, Ledgers, Alter, (select the ledger you want to delete), (when the ledger is displayed hit "Alt"+"D" and then when the confirmation screen comes hit "Y" or "Enter" to say yes)

tags: deleting company learn tally 7.2 demostration education classes tutorials course purchases sales journal contra godowns debit credit bank money fund financial accounting tally 9 tags: deleting company learn tally 7.2 demostration education classes tutorials course purchases sales journal contra godowns debit credit bank money fund financial accounting tally 9

9. Creating Sales vouchers in tally

Prepare a sales voucher whenever a business sells current assets but in the case of selling of fixed assets you need to prepare receipts voucher

To prepare a sales voucher: go to Gateway of Tally, accounting vouchers, and hit "F8" or click on the sales voucher button on the button bar towards the right and also click on "As voucher" on the button bar because you are entering entries and not items 1. Rs. 50000 worth cement sales to M/s Gokul & Co. on cash wih the following additional charges. a) Local Sales Tax 4% b) cement sales tax 2% c) packing & forwarding charges Rs. 53750 Gokul & Co. A/c Dr. 53750 Cement Sales A/c Cr. 50000 Local Sales Tax 2000 Cement Sales Tax Cr. 1000 Packing & forwarding charges Cr. 750 2. Rs. 4050 worth Bricks sold to M/s Jain & Co. Jain & Co. A/c Dr. Brick Sales A/c Cr. 3. Paint sales worth Rs. 10000 to M/s John agency and given discount 5% M/s John Agency A/c Dr. 9500 Discount allowed A/c Dr. 500 Paint Sales A/c Cr. 10000 4. Cement Sales Rs. 7000 worth to M/s Jain & Co. and charged 3% for local sales tax M/s Jain & Co. A/c Dr. 7210 Cement Sales A/c Cr. 7000 Local Sales Tax A/c Cr. 210 5. Cement sales Rs. 375000 & brick sales 60000 to M/s John Agency John Agency A/c Dr. 435000 Cement Sales Cr. 375000 Brick Sales Cr. 60000 6) Brick sales worth Rs. 7500 to M/s Gokul & Co. and allow Rs. 500 discount for cash sales M/s Gokul & Co. Dr. 7000 Discount Allowed Dr. 500 Brick sales A/c Cr.7500 Creating a ledger: while in a voucher hit "Alt"+"C" to create a ledger (shortcut method)

or go to Gateway Of Tally, Accounts Info., Ledger, Create create the ledgers this way Gokul & Co. A/c, M/s Jain & Co. A/c, M/s John agency A/c must be created under sundry debtors Cement sales A/c, Brick sales A/c, Paint Sales A/c must be created under sales Local sales tax A/c, Cement Sales Tax A/c must be created under duties and taxes Packing and forwarding charges A/c & Discount allowed are created under indirect expenses To edit a ledger: Gateway Of Tally, Accounts Info, Ledgers, Alter, (select the ledger you want to change) To delete a ledger : Gateway Of Tally, Accounts Info, Ledgers, Alter, (select the ledger you want to delete), (when the ledger is displayed hit "Alt"+"D" and then when the confirmation screen comes hit "Y" or "Enter" to say yes)

10. Creating Purchases Vouchers in tally

Prepare a purchaser voucher whenever a business purchases current assets but in the case of purchasing of fixed assets you need to prepare journal voucher To prepare a purchases voucher: go to Gateway of Tally, accounting vouchers, and hit "F9" or click on the purchase button on the button bar towards the right and also click on "As voucher" on the button bar because you are entering entries and not items 1. M/s Ramco cement supplied Rs. 200040 worth cement and allowed discount 2% for cash purchase. The additional charges are charged for purchase as follows: a) Local Sales Tax 4% b) packing & forwarding charges Rs. 2000 Cement purchase A/c Dr. 200040 Local sales Tax A/c Dr. 8001.6 Packing & forwarding charges A/c Dr. 2000 M/s Ramco Cement A/c Cr. 204040 Discount received A/c Cr. 6001.2 2. M/s Arasan & Co. supplied Rs. 75000 worth bricks and allowed Rs. 1000 discount for the purchase Bricks purchase A/c Dr. 75000 Arasan & Co. A/c Cr. 74000

Discount received Cr.1000 3. Computer purchase worth Rs. 30000 and printer purchase worth Rs. 5000 are both purchased from Excel systems. Additional packing & forwarding charges Rs. 1000 are made for purchase Computer Purchase Dr. 30000 Printer Purchase Dr. 5000 Packing & forwarding Charges Dr. 1000 Excel System Cr. 36000 4. Accounting software worth Rs. 22000 purchased from Data Systems Accounting Software purchase A/c Dr. Data System A/c Cr. 5. M/s India supplied Rs. 100020 worth cement and allowed discount Rs. 5000 for cash purchase Cement purchase A/c Dr. 100020 India Cement A/c Cr. 95020 Discount received Cr. 5000

Creating a ledger: while in a voucher hit "Alt"+"C" to create a ledger (shortcut method) or go to Gateway Of Tally, Accounts Info., Ledger, Create create the ledgers this way Cement purchase A/c, Bricks purchase A/c, Computer Purchase A/c, Printer purchase A/c, Accounting software A/c & Cement purchase A/c must be created under purchases Local sales tax A/c under duties & taxes packing & forwarding charges under indirect expenses Discount received under indirect income M/s Ramco Cement, Arasan & Co A/c, Excel System A/c, Data System A/c and India Cement A/c under Sundry creditors To edit a ledger: Gateway Of Tally, Accounts Info, Ledgers, Alter, (select the ledger you want to change) To delete a ledger : Gateway Of Tally, Accounts Info, Ledgers, Alter, (select the ledger you want to delete), (when the ledger is displayed hit "Alt"+"D" and then when the confirmation screen comes hit "Y" or "Enter" to say yes)

11. Creating Inventories in tally

Now every business is not a manufacturing unit, it can also be a reselling unit which purchases goods from a business and sells the same to its customers/retail outlets. Now consider a business which sells clothes, drinks and devices than these are considered as groups in tally, one group may have sub group like devices may have spare devices and working devices under each groups you have several items like under clothes you have blue cloth, green cloth, yellow cloth similarly under drinks you have certain items like Coca Cola, pepsi, fanta but under devices you may have sub groups because the items coming under devices will be divided into two sub groups working devices and spare devices, so under working devices sub group you may have items like computers, calculators, washing machine and under spare devices sub group you may have motherboard, mobile components as the items Groups: A) Clothes, B) Drinks & C) Devices Items under each group A) Clothes: Blue cloth, yellow cloth, green cloth B) Drinks: Coca Cola, pepsi, fanta the group named "devices" has sub groups C) Devices: C.1) Spare devices & C.2) Working devices Items under the sub groups C.1) Spare devices: motherboard, mobile components C.2) Working devices: Computers, calculators, washing machine how to create groups To create such groups its better to create multiple groups in tally instead of creating one group at a time, following are the steps go to Gateway of tally, inventory info., stock group, multiple stock group and enter a name say primary for your business or any other name then start entering the 3 main groups Clothes, Drinks and devices under primary and for "items are addable" option say "yes" only for clothes and drinks as certain items come under them but for devices say no because under devices you have sub groups instead of items then you need to create two sub groups which comes under devices so again go to Gateway of tally, inventory info., stock group, multiple stock group and select devices and then under this group enter the sub groups spare devices and working devices and for "items addable" option say "yes" for both the groups as items comes under them

how to create units of measure for each items now you need to create stock items but before you create them you need to create "units of measure" to later measure your items as you see under cloth we have 3 items go to Gateway of tally, inventory info., unit of measure and select create now you know clothes are measured in pieces so for "symbol" enter its short form "pcs" and for "formal name" enter pieces similarly for drinks "symbol" is bts and "formal name" is bottles for devices "symbol" is nos. and "formal name" is numbers how to create godowns godown is the place where your company keeps the stock items, like some stock items will be kept at one place while others will be kept at other places in order to create a godown first you need to enable godown in tally, while you are in gateway of tally, click on the features button on the button bar or hit "F11" and select inventory features and say yes for the option "maintain multiple godown" and then go to inventry information now you will see the godown option click on it and select to create multiple godowns, you can create a godown with the main location as say Maharashtra and then under it you can enter Mumbai and Pune as your two godowns how to create stock items to create stock items in tally go to Gateway of tally, inventory info., stock items and select create under multiple stock items as its an easy method now for the "under group" option select the very first group which you had created earlier that is Clothes and then start entering the name of each items what come under clothes like blue cloth, green cloth and yellow cloth and as you enter each of them select the units that is pcs (pcs is units of measure which you had created earlier) for cloth and then enter the quantity like how many green clothes you have say 500, now select the Godown where you have kept that item, and then enter a rate which is the cost of that item, say each green cloth costs you Rs 100 then enter 100 and now the amount 100 will automatically be multiplied with 500 and you get the total amount as Rs. 50000, continue the same thing for all the items which come under drinks, spare devices and working devices