basics of tally GST and accounting

1. P O W E R O F S I M P L I C I T Y
TALLY ERP. 9

2. WHAT IS TALLY?
 Tally (Transaction Allowed In A Linear Line Yards)
 Tally.ERP9 (Enterprise Resource Planning System)
 Tally.ERP9 is the ideal software for your business. It is used by over a million businesses across India.
 We understand that every business has its own complexities, exceptions, and unique needs. Tally.ERP9 is
designed with the flexibility to handle all of these. The needs of your business change as it grows and
Tally. ERP9 is designed to scale. Let Tally manage your accounting and compliance, while you focus to
grow your business
 Tally allows its users to access their accounts remotely using the http://tally.NET facility, which allows
the users to access their accounts on an internet connection.

3. MANUALLY ACCOUNTING VS
 JOURNAL ENTRIES
 LEDGERS
 TRIAL BALANCE
 TRADING ACCOUNT
 PROFIT AND LOSS
 BALANCE SHEE
COMPUTERISED ACCOUNTING
 COMPANY CREATION
 LEDGER CREATION
 ACCOUNTING VOUCHERS
 TRIAL BALANCE
 TRADING ACCOUNT
 PROFIT AND LOSS
 BALANCE SHEET

4. FINANCIAL ACCOUNTING
A Financial Year Is Twelve Months in Duration Start ON 1ST APRIL AND ENDS ON 31ST MARCH
DOUBLE ENTRY SYSTEM
In Double Entry System, We Maintain a Record Of Both Sides Of A Transaction.
SOURCES OF FUND
We Know That To Run A Business We Need Funds. In Fact, The Purpose Of Business Is To Raise Funds.
Owner’s Equity Of Capital
 LOAN
 EARNING
 DISPOSAL
 MAKING PROFIT
USE OF FUNDS-
 PURCHASING ASSETS
 EXPENSES
 LOSSES
 KEEPING CASH

5. TYPES OFACCOUNTS
There are three types of accounts-
PERSONAL REAL
NOMINAL

6. PERSONALACCOUNT
Personal Accounts The Accounts Recording Transactions Related To Person I.E . Human
Being Or Firms Companies, Institutions Etc. Are Classified As Personal A/C Personal
Accounts Can Be Further Classified As:
GOLDEN RULES OF PERSONALACCOUNT
 DEBIT- THE RECIVER
 CREDIT- THE GIVER

7. REALACCOUNTS-
The Accounts Recording Transactions Are Related To Tangible Items ( Which Can
Be Touched, Purchased, Sold) Such As Goods, Cash, Machinery, Etc. Are
Classified As Real Accounts. Whereas Accounts Recording Transactions Relating
To Intangible Things Such As Goodwill, Patents And Copy Rights, Trademarks Etc.
Are Classified As Intangible Real Accounts.
The real account can be further classified as:
• Assets.
• Liabilities.
Golden Rules Of Real Account
 DIBIT:- What Comes In
 CREDIT:- What Goes Out

8. Nominal account
The Accounts Recording Transactions Are Related To
Losses, Interest, Bad Debts Etc. Are Classified As Nominal
Account. Nominal Account Can Be Further Classified Into
Two Types Of Accounts
Golden Rules Of Nominal Accounts
DEBIT :- All Expenses & Loss
CREDIT :- All Income & Gain

9. Tally ERP 9 Groups
28
Predefined
Groups
15 Primary
Groups
13 Sub Groups
9
Capital
Nature
6
Revenue
Nature
(Profit
&loss)

10. LIST OF 15 PRIMARY GROUPS
CAPITAL
BRANCH
/DIVISION LOANS SUSPENSE CURRENT
ASSETS
FIXED
ASSETS
INVESTMENT
SALES PURCHASE
INDIREC
T
EXP.
INDIREC
T
INCOME
MISC.
EXP.
Current
Liabilities
DIRECT
INCOME
DIRECT
EXPENSE
S

11. LIST OF 13 SUB-GROUPS
Unsecured
loans
Banks OD Sundry debtors Reserves and
surplus
provisions
Sundry creditors
Stock in hand Secured loans Bank accounts Loan and
advances
duties Deposits Cash in hand

12. 15 primarygroups
9 capital nature 6 revenue nature
CAPITAL
LOANS
MISC. EXPENSES
INVESTMENT
FIXED ASSETS
CURRENT ASSETS
CURRENT LIABLITIES
SUSPENSE
BRANCH/DIVISION
SALES
PURCHASE
INDIRECT EXPENSES
DIRECT EXPENSES
INDIRECT INCOME
DIRECT INCOME

13. TYPES OF VOUCHERS
TALLY ERP9 FOUR TYPES OF VOUCHERS -
INVENTORY
NON ACCOUNTING
PAYROLL
ACCOUNTING

14. ACCOUNTING VOUCHERS
CONTRA VOUCHER
PAYMENT VOUCHER
RECEIPT VOUCHER
JOURNAL VOUCHER
SALES VOUCHER
PURCHASE VOUCHER
CREDIT NOTE
DABIT NOTE

15. INVENTORY VOUCHERS
DELIVERY NOTE
REJECTION IN
STOCK JOURNAL
REJECTION OUT
PHYSICAL STOCK
SALES ORDER
RECEIPT NOTE
MATERIAL IN
MATERIAL OUT
JOB WORK IN
ORDER
JOB WORKOUT
ORDER
PURCHASE ORDER

16. Non Accounting Vouchers
Optional vouchers
Memorandum
vouchers

17. Payroll vouchers
Payment
attendance
payroll

18. T A L L Y E R P 9 F E A T U R E S
SUPPORT FOR BAKING TRANSACTION
FASTER ACCESS TO BUSINESS REPORTS
FLEXIBLE INVENTORY MANAGEMENT
EASY APPLICATION MANGEMENT
SIMPLE ACCOUNT MANAGEMENT
ONE-STOP SOLUTION FOR COMPLIANCE

19. SILENT
FEATURES
OF TALLY
SAVES TIME
AND MONEY
MORE
SECURE AND
LOCK
FACILITY
CAREER IN
ACCOUNTING
MULTI USAGE

20. SPECIAL KEY FUNCTIONS AREA
ACCOUNTS
SALES
MANAGEMENT
MANUFACTURING
AND JOB WORK
TAXATION PURCHASE
MANAGEMENT
INVENTORY
BANKING PAYROLL
MANAGEMENT
INTERNET
MISCELLANEOUS
DATA EXCHANGE

21. T a l l y. E R P 9 F e a t u r e s
Accounts With Inventory
Multiple Godowns
Multiple Currencies
Reconciliation
Voucher Class
Budget And Controls
Price List
Export And Import Of Data
Point Of Sales
Tax Collected At Source
Batch Wise Details
Tally Audit
Security Control
 Web–Enabled
Print Preview
 Online Help
 Backup And Restore
 Interest Calculation
 Multiple Mailing Addresses
 Cash Flow

22. T a l l y. E R P 9 F e a t u r e S
 Bill Wise Details
 Cost Centers And Cost Category
 Debit Note And Credit Note
 Reversing Journals and Optional
 Cheque Printing
 Post Dated
 Tracking Number
 Delivery Note
 Receipt Note
 Goods And Services Tax
• Zero Valued Transactions
• Company Logo
• Changed Vouchers
• Stock Categories
• Actual And Billed Quantity
• Purchase Order Processing
• Sales Order Processing
• Discount Invoices
• Rejection Out And In
• Tax Deducted At Source

23. W H A T I S G S T ?
GST (Goods And Services Tax)
GST Stands For Goods And Services Tax . It Is An Indirect Tax introduced
To Replace a Host Of Other Indirect Taxes Such As value-added tax,
Purchase Tax, Excise Duty, And So On. GST Levied On The Supple Of
Certain Goods And Services In India. It Is One Tax That Is Applicable All
Over India.

24. HISTORYOF GST
O n J u l y 1 s t , 2 0 1 7 T h e G o o d A n d S e r v i c e s Ta x w a s I m p l e m e n t e d I n I n d i a . B u t T h e P r o c e s s
O f I m p l e m e n t i n g T h e N e w Ta x R e g i m e C o m m e n c e d A L o n g Ti m e A g o . I n 2 0 0 0 A t a l B i h a r i
Va j p a y e e . T h e n P r i m e M i n i s t e r O f I n d i a , S e t U p A C o m m i t t e e To D r a f t T h e G s t L a w, I n
2 0 0 4 A Ta s k F o r c e F o r c e C o n c l u d e d T h a t T h e N e w Ta x S t r u c t u r e S h o u l d b e P u t I n P l a c e
To E n h a n c e T h e Ta x R e g i m e A t T h e Ti m e . I n 2 0 0 6 F i n a n c e M i n i s t e r P r o p o s e d T h e
I n t r o d u c t i o n O f G s t F r o m 1 s t A p r i l 2 0 1 0 A n d I n 2 0 11 T h e C o n s t i t u t i o n A m e n d m e n t B i l l
w a s P a s s e d To E n a b l e T h e I n t r o d u c t i o n O f T h e G s t L a w. I n 2 0 1 2 T h e S t a n d i n g C o m m i t t e e
S t a r t e d D i s c u s s i o n s A b o u t G s t A n d Ta b l e d I t s R e p o r t O n G s t A Ye a r L a t e r . I n 2 0 1 4 T h e
N e w F i n a n c e M i n i s t e r A t T h e Ti m e A r u n J a i t l e y R e i n t r o d u c e d T h e G s t B i l l I n P a r l i a m e n t
A n d P a s s e d T h e B i l l I n L o k S a b h a I n 2 0 1 5 Ye t T h e I m p l e m e n t a t i o n O f T h e L a w w a s
D e l a y e d A s I t Wa s N o t P a s s e d I n R a j y a S a b h a . G s t We n t L i v e I n 2 0 1 6 , A n d T h e A m e n d e d
M o d e l G s t L a w w a s P a s s e d I n B o t h T h e H o u s e s . T h e P r e s i d e n t O f I n d i a A l s o G a v e
A s s e n t . I n 2 0 1 7 T h e P a s s i n g O f 4 S u p p l e m e n t a r y G s t B i l l s I n C a b i n e t . R a j y a S a b h a T h e n
4 S u p p l e m e n t a r y G s t B i l l s A n d T h e N e w Ta x R e g i m e I m p l e m e n t e d O n 1 s t J u l y 2 0 1 7 .

25. FOUR
DIFFERENT
TYPES OF
GST
STATE GST
CENTRAL
GST
UNION
TERRITORY
GST
INTEGRATE
GST

26. GST RATES
The GST Council Has Assigned GST Rates To Different
Goods And Services, While Some Products Can Be Purchased
Without Any GST There Are Others That Come At 0% GST,
5% GST,12% GST, 18% GST, and 28% GST. GST Rates For
Goods And Services Have Been Changed A Few Time Since
The New Tax Regime Was Implemented In July 2017.

27. TAX RATES PRODUCTS
0%
Milk, Eggs, Lassie , Unpacked Food Grains,gur,
Unbranded Natural Honey, Fresh Vegetables, Salt, News
Paper.
5%
Sugar, Tea, Edible Oils, Domestic LPG, PDS Kerosene ,
Cashew Nuts , Milk Food For Babies, Fabric, Spices,
Coal.
12%
Electronic Items , Like Computer , Mobile Ghee, Butter,
Packed Coconut Water
18%
Hair Oil, Toothpaste, Soap, Pasta, Corn Flakes, Soups,
Movie Tickets.
28%
Consumer Durables Such As AC And Fridge, Beedis Are
Not Included Here Luxu ry & Sin Items Like
Bmws.(+15%cess)

28. GSTIN
Each Taxpayer Is Assigned A State-wise Pan-based 15-digit Goods And Services Taxpayer Identification Number
(GSTIN). Here Is A Format Break Down Of The GSTIN: The First Two Digits Represent The State Code As Per Indian
Census 2011. Every State Has A Unique Code. For Instance.
State Code
The Next Ten Digits Will Be The PAN Number Of The Taxpayer
The Thirteenth Digit Will Be Assigned Based On The Number Of Registration Within A State
 The Fourteenth Digit Will Be Z By Default
The Last Digit Will Be For the Check Code. It May Be an Alphabet Or A Number

29. KNOWYOUR GST
23 AAAAA0000A 1 Z 5
STATE CODE PERMANENT ACCOUNT NUMBER(PAN)
ENTITY NUMBER OF THE
SAME PAN HOLDER IN A
STATE
LETTER “Z” BY DEFAULT
CHECK SUM DIGIT