CERTIFICATE IN TALLY PRIME WITH ADVANCE GST ( S-GC-003 )

Entries in Account Book

Introduction of Tally Prime

Tally Solutions Pvt. Ltd. is an Indian multinational technology company,  that provides enterprise resource planning software. It is headquartered in Bangalore, Karnataka. The company reports that its software is used by more than 7 million customers.

Tally Solutions was co-founded in 1986 by Shyam Sunder Goenka and his son Bharat Goenka after the family's cotton business was destroyed by fire. It began as Peutronics Financial Accountant, an accounting software application. The company was incorporated in 1991 and was renamed Tally Solutions in 1999.

Shyam Sundar Goenka was running a company that supplied raw materials and machine parts to plants and textile mills in southern and eastern India. Unable to find software that could manage his books of accounts, he asked his son, Bharat Goenka, 23, a Maths graduate to create a software application that would handle financial accounts for his business. The first version of the accounting software was launched as an MS-DOS application. It had only basic accounting functions, and was named Peutronics Financial Accountant.

Download Tally Prime from https://tallysolutions.com/download/

Install in your PC / Laptop

For Training purpose : Most of the computer training Institute use Educational Mode:

Note : Tally Prime- educational mode work without a license, where you can input data only on

the first, second, and last days of the month.

Start Tally Software

Open Tally > W: Work in Educational Mode

CREATE A COMPANY

F3:Company> Create Company

Company Name : Global Traders

Fill up : Address, State and other optional details.

Accept

Company Created Successfully,

(Enable features as per your business need)

Accounting

Maintain Account : Yes                  Enable bill wise entry : Yes

Inventory : No                                   Enable Goods and Service Tax (GST) : No

TDS : No

Accept

Shut Company

F3 >Company > Shut Company

Alter Company

Go To > Select Company > Global Traders

F3 : Company > Alter Company

Change your address or any other data

Accept

Delete Company

Go To> F3 (Company)> Alter Company > Alt + D

Company Global Traders has been deleted

Again Create Company Global Traders

(Follow the steps mentioned in Create Company)

PRE-DEFINED GROUP

Gateway of Tally > Chart of Account > List of Masters >Groups

There are 28 predefined groups in Tally

15 groups are Primary Groups and the remaining 13 groups are Sub-Groups

1. Branch / Divisions (P)                                 15. Direct Expense (P)

2. Capital Account (P)                                     16. Direct Incomes (P)

3. Reserves & Surplus                                    17. Fixed Assets (P)

4. Current Assets (P)                                      18. Indirect Expenses (P)

5. Bank Accounts                                              19. Indirect Incomes (P)

6. Cash-in-Hand                                                20. Investments (P)

7. Deposits (Asset)                                          21. Loans (Liability) (P)

8. Loans & Advances (Asset)                       22. Bank OD A/c

9. Stock-in-Hand                                               23. Secured Loans

10. Sundry Debtors                                         24. Unsecured Loans

11. Current Liabilities (P)                               25. Misc. Expenses (Asset) (P)

12. Duties & Taxes                                           26. Purchase Accounts(P)

13. Provisions                                                    27. Sales Accounts (P)

14. Sundry Creditors                                       28. Suspense A/c (P)

Creating Group :Gateway of Tally >Masters > Create > Accounting Masters > Group

Group Name Under Nature of Group

Building Fixed Assets ---

Office Equipment Primary Assets

Deprecation Primary Expenses

Check on Gateway of Tally > Chart of Account> Groups

CREATING LEDGER

By default there is two ledgers (1) Cash (2) Profit and Loss A/c

Check the default ledgers Gateway of Tally>Charts of Accounts>Ledgers

Gateway of Tally >Masters > Create >Ledger

Ledger Alteration: Gateway of Tally >Masters > Alter >Ledger

Create New Company : Global_Voucher

All entries which you made in these given accounting vouchers are effect on your

current accounting of your business.

Class Room Assignment :-

Create a company Milan Trade for the year 2022-23, and pass necessary Journal Entries

Journalize the following transactions

1. Commenced business with cash Rs.10, 000.

2. Deposit into bank Rs. 15,000

3. Bought office furniture Rs.3,000

4. Sold goods for cash Rs.2,500

5. Purchased goods form Mr X on credit Rs.2,000

6. Soled goods to Mr Y on credit Rs.3,000

7. Received cash form Mr. Y on account Rs.2,000

8. Paid cash to Mr X Rs. 1,000

9. Received commission Rs. 50

10. Received interest on bank deposit Rs. 100

11. Paid into bank Rs. 1,000

12. Paid for advertisement Rs.500

13. Purchased goods for cash Rs. 800

14. Sold goods for cash Rs. 1,500

15. Paid salary Rs. 500

Gateway of tally-Account info-Ledger-Create Gateway of tally – Accounting voucher

Eligibility :

1) 10th passed

2) 12th passed