COMPUTERISED ACCOUNTING SYSTEM TALLY Installing Tally ERP 9

COMPUTERISED ACCOUNTING SYSTEM - TALLY

Installing Tally. ERP 9 • Source • https: //tallysolutions. com/download/

Starting Tally • Start > All Programs > Tally. ERP 9 icon

First screen in Tally

Creation of a company • Company Info > Create Company

Creation of a company (Ex. 1)

Gateway of Tally

Company Features • F 11: Features

Accounting Features

Accounting Features Set the following features: • Maintain accounts only - Yes • Integrate accounts and inventory - No • Use Income and Expenses A/c instead of Profit and Loss A/c – No Note: When Maintain accounts only set to Yes, Integrate accounts and inventory feature is disabled

Accounting Features

Statutory & Taxation • Company features > Statutory & Taxation • Set No to Enable Goods and Services Tax (Default No)

• Accounting groups • Ledger accounts • Vouchers

Accounting Groups • Predefined groups – Primary groups and Subgroups – Current Liabilities, Sundry Creditors • User defined groups • Predefined ledgers – Cash and Profit & Loss A/c • User defined ledgers

Vouchers • • • Receipt voucher (F 6) Payment voucher (F 5) Contra voucher (F 4) Purchase voucher (F 9) Sales voucher (F 8) Journal voucher (F 7)

Steps in recording transactions • • • Create company Accounting features Analysis of transactions Creation of ledgers Enter transactions through vouchers

Analysis of transactions • Book 1. xlsx • List of Ledgers – – – Devi’s Capital A/c Indian Bank A/c Furniture A/c Purchases A/c Sumathy A/c Sales A/c Arun A/c Salaries A/c Carriage on purchases A/c Computer A/c Muthu Ltd

Creation of Ledger Gateway of Tally > Masters > Accounts Info > Ledgers > Single Ledger > Create

Creation of Devi’s Capital A/c

To enter transactions through vouchers Gateway of Tally > Transactions > Accounting Vouchers • Devi commenced a business with a capital of Rs. 4, 000 – F 6: Receipt voucher – Account: Cash – Particulars: Devi’s Capital A/c (Choose from list) – Amount: 4, 000 – Narration: Capital introduced – Accept Yes.

Trial Balance

Profit and Loss A/c

Balance Sheet

Ratio Analysis