tally basics

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

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