Schedule VI Master Configuration

Schedule VI Master Configuration

The Schedule VI Master Configuration report provides an elaborate picture of the Schedule VI Heads to which Tally Groups have been mapped by Tally.ERP 9. To view the Schedule VI Master Configuration report for Schedule-VI Balance Sheet, Go to Gateway of Tally > Audit & Compliance > Financial Statements > Balance Sheet •

Click on F9: Master Config or press Alt+F9

The Schedule VI Master Configuration report appears: Groups that have been automatically classified under Schedule VI Heads by Tally.ERP 9 can be reclassified by the user under different Schedule VI Heads. See more on Schedule VI Rule Configuration Button options in Schedule VI Master Configuration report F1: Detailed

Click on F1: Detailed ore press Alt+F1 to view a detailed Schedule VI Master Configuration report: F4: Group

Click on F4: Group or press F4 to view the Schedule VI Master Configuration for a specific Group F5: Led-wise

Click on F5: Led-wise or press F5 to view the Schedule VI Master Configuration for every Ledger Ctrl+F9: Rename Heads

Click on Ctrl+F9: Rename Heads or press Ctrl+F9 The Configuration Schedule VI Heads report appears: • • • • •

The report provides details of Schedule VI Heads and their names as displayed in the Schedule-VI Balance Sheet Click on F1: Condensed or press Alt+F1 to view a condensed version of the report Click on R: Rename Head or press Alt+R to Rename Schedule VI Heads Select a Schedule VI Head using Spacebar and click on Ctrl+F10: Restore Name or press Ctrl+F10 to undo any changes made to it Click on F12: Configure to change the default view of the report:

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Set the option Show Only Renamed Heads? To Yes to view only those Schedule VI Heads for which Display Names have been changed

Ctrl+F10: Restore Def.

Click on Ctrl+F10: Restore Def. or press Ctrl+F10 to undo any reclassifications done to the Tally Groups Ctrl+B: Bifurcate Value

Click on Ctrl+B: Bifurcate Value or press Ctr+B to view the Bifurcate Value Classification report: To know more about Bifurcating Balances, see Schedule VI Rule Configuration •

Click on F12: Configure or press F12 to change the view of Bifurcate Value Classification report:

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Appearance of Names: Set the Display Name Style for the report Expand all levels in Detailed Format: Set this option to Yes to view a detailed Bifurcate Value Classification Report Show Closing Balance: Set this option to Yes to view the Closing Balances of the Groups displayed

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C: Multi Classify

Select multiple Groups using Spacebar and click on C: Multi Classify or press Alt+C to set their Schedule VI Rule Configuration F9: Inv Reports

Click on F9: Inv Reports or press F9 to navigate to the default Inventory Reports like Godown Summary, Movement Analysis, Stock Summary etc. F10: Acc Reports

Click on F10: Acc Reports or press F10 to navigate to the default Accounting Reports like Balance Sheet, Cash Flow, Trial Balance etc. F10: Audit Reports

Click on F10: Audit Reports or press Alt+F10 to navigate to the other Audit Reports within Statutory Audit and Tax Audit F12: Configure

Click on F12: Configure or press F12 to change the default view of the Schedule VI Master Configuration report: •

Appearance of Names: Set the Display Name Style for the report

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Sorting Method: Select the required sorting method -Alphabetical or Default, from the list of Sorting Methods. Expand all levels in Detailed Format: Set this option to Yes to view a detailed Schedule VI Master Configuration Report Show Closing Balance: Set this option to Yes to view the Closing Balances of the Groups displayed.

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Option to Move Tally Groups/Ledgers from one Schedule VI Head To another Schedule VI Head Tally.ERP 9 provides users with the option to Move Tally Groups/Ledgers from one Schedule VI Head To another Schedule VI Head. Go to Gateway of Tally > Audit & Compliance > Financial Statements > Balance Sheet •

Place the cursor on a Schedule VI Head and press Enter

The Note Summary report for the Schedule VI Head appears. • • •

Click on F1: Detailed or press Alt+F1 for the detailed Note Summary Place the cursor on the Group/Ledger that has to be Moved to a different Schedule VI Head Click on Ctrl+X: Move or press Ctrl+X

The Group/Ledger gets selected. • •

Move the cursor over to the Schedule VI Head under which the Group/Ledger needs to be placed Click on Ctrl+V: To or press Ctrl+V to move the Group/Ledger under the selected Schedule VI Head

The selected Group/Ledger appears under the selected Schedule VI Head: •

Click on Ctrl+Z: Undo or press Ctrl+Z to restore the Note Summary from the last change made

Posted by financeworld at 20:08 1 comment: Email ThisBlogThis!Share to TwitterShare to Facebook

Inserting and Renaming Heads In Schedule-VI Balance Sheet

Tally.ERP 9 provides users with the option to rename and insert Heads in the Schedule-VI Balance Sheet as per their business needs.

Renaming Heads To rename Schedule VI Heads, Go to Gateway of Tally > Audit & Compliance > Financial Statements > Balance Sheet • •

Place the cursor on the Schedule VI Head that has to be renamed. Click on R: Rename Head or press Alt+R

The Change Display Name sub-screen appears: • •

Type in the name to be given to the chosen Schedule VI Head Press Enter

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Press Enter or Y to Accept (save) the change

The Schedule VI Head appears renamed in the Schedule-VI Balance Sheet: Inserting Heads Users can insert Heads at lowest level of the hierarchy of Schedule VI Heads. For e.g.: User will not be able to insert head at Current Assets (Schedule VI Head) level, but will be able to do it at Other Current Assets (Sub-head) level. To insert a head in the Balance Sheet, Go to Gateway of Tally > Audit & Compliance > Financial Statements > Balance Sheet If, for instance, Interest Accrued on Investments has to be inserted under Other Current Assets, •

Place the cursor under the required Schedule VI sub-head (here, Other Current Assets) and click on Ctrl+I: Insert Head or press Ctrl+I

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The Create Schedule VI Head screen appears. Press Backspace to change the Head under which the new one has to be inserted

A List of Heads appears: • •

Select the appropriate Head (here, Other Current Assets), and press Enter Type in the Name of the new head and press Enter

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Press Enter or Y to Accept (save) the new head

The newly inserted Head (Interest Accrued on Investments) appears classified under the chosen Head (Other Current Assets) Deleting inserted Heads

To delete an inserted Head, • • •

Place the cursor on the (inserted) head Click on Ctrl+D: Delete Head or press Ctrl+D Press Enter or Y to delete the head

Note: Default Schedule VI Heads cannot be deleted. Also, Inserted Heads to which Tally Groups have been linked cannot be deleted. Posted by financeworld at 20:05 No comments: Email ThisBlogThis!Share to TwitterShare to Facebook

Schedule-VI Balance Sheet Schedule-VI Balance Sheet provides the representation of company's financial position at any point in time in the Schedule VI format of Companies Act. The Balance Sheet displays: • •

Equity and Liabilities comprising of Shareholders' Funds, Share Application money pending allotment, Non-Current Liabilities, and Current Liabilities Assets comprising of Non-Current Assets and Current Assets

To generate the Schedule-VI Balance Sheet, Go to Gateway of Tally > Audit & Compliance > Financial Statements > Balance Sheet

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The report displays the Schedule VI Heads with the respective balances. Default Tally Accounting Groups are automatically linked to their respective Schedule VI Heads. The Ledgers that are classified under these Accounting Groups, too, get linked to the Schedule VI Heads. This is a broad classification provided by Tally.ERP 9. Users can reclassify the Groups/Ledgers under other Schedule VI Heads, while keeping the Balance Sheet intact. Schedule VI Heads consisting of Groups/Ledgers that have not been categorised by the user, will be displayed as Ungrouped and in red, to bring the same to attention. Press Enter on the required Schedule-VI head/sub-head to view the respective Note Summary report.

Exceptions in Schedule-VI Balance Sheet In the Schedule-VI Balance Sheet all the possible exceptions will be displayed in red for users’ attention. • • •

Previous Year Ungrouped – Any Ledger/Group present only in Previous Year that remain unclassified under Schedule VI Groups, will be shown under this Exception. Balance in Branch / Division – Any Ledger grouped or created under Tally.ERP 9's reserved group Branch and Division, will be shown under this Exception. Balance in Suspense A/c – Any Ledger grouped or created under Tally.ERP 9's reserved group Suspense A/c, will be shown under this Exception.

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Difference In Opening Balance – Difference in Total of Assets side or Liability side will be shown under this Exception. Unadjusted Forex Gain or Loss – If there is any unadjusted Forex Gain or Loss from the Forex Transactions it will be shown under this Exception. Difference in Bifurcation - This exception occurs where Ledgers have been mapped to Schedule VI Heads using the Bifurcate Balance option. If their opening balances have been modified, or transactions have been passed using these ledgers, this exception occurs, and is displayed as Difference in Bifurcated Balance

The user can regroup/reclassify these exceptions to the respective Schedule VI Groups using the Move (Ctrl+X) and To (Ctrl+V) options or using Schedule VI Rule Configuration. Button options in the Schedule-VI Balance Sheet F1: Detailed

Click on F1: Detailed or press Alt+F1 to view the Balance Sheet in detailed form. The detailed view for Schedule-VI Balance Sheet displays the default Tally Groups with balances which are mapped under various Schedule VI Groups. F2: Period

Click on F2: Period or press F2 to change the selected period for the Audit Year (Current Year). If two separate companies are loaded or if the transactions of multiple years are available in the same data, then the Period for the Previous Year is also changed accordingly. F3: Hide Prev. Year

Press F3 or click on F3: Hide Prev. Year to display the Previous Year column while displaying report. This will be available for use only when multiple years are available in the same data. Ctrl+O: Copy Classify

Click on Ctrl+O: Copy Classify or press Ctrl+O to copy the configurations of the ScheduleVI Balance sheet from another Company on Tally.ERP 9. Ctrl+F3: Compare Cmp

Click on Ctrl+F3: Compare Cmp or press Ctrl+F3 to load the Company having previous years data. Note: If the data for both the years is available in the same Company, loading of a second Company is not required. For the Company with two years data, system will check for the Vouchers passed on any Day for the month March to determine the Audit Year. F8: Note. No.

Click on F8: Note No. or press F8 for Note Number Configuration. F9: Master Config

Click on F9: Master Config. Or press Alt+F9 to view the Schedule VI Master Configuration Ctrl+F10: Restore Def.

Click on Ctrl+F10: Restore Def. or press Ctrl+F10 to undo any manual Schedule VI classification performed on the default Tally Groups/Ledgers. A: Additional Info.

Place the cursor on a Schedule VI Head and click on A: Additional Info. or press Alt+A to go to the respective Additional Details report Ctrl+C: Classify Helper

Click on Ctrl+C: Classify Helper or press Ctrl+C for Current and Non-Current Classification report. F9: Inv Reports

Click on F9: Inv Reports or press F9 keys to navigate to the default Inventory Reports like Godown Summary, Movement Analysis, Stock Summary etc. F10: Acc Reports

Click on F10: Acc Reports or press F10 keys to navigate to the default Accounting Reports like Balance Sheet, Cash Flow, Trial Balance etc. F10: Audit Reports

Click on F10: Audit Reports or press Alt+F10 keys to navigate to the other Audit Reports within Statutory Audit and Tax Audit. F12: Configure Click on F12: Configure or press F12 to change the default display for the Schedule-VI Balance Sheet report. Scale Factor for Values: Select the required Scale Factor from Crores, Hundreds, Lakhs, Millions, Ten Lakhs, Ten Millions, Ten Thousands, Thousands or Default for displaying the balances in the Schedule VI Balance Sheet. Note: The Default Tally Group & Balances will be displayed only in the expanded mode. Posted by financeworld at 19:59 No comments: Email ThisBlogThis!Share to TwitterShare to Facebook

Financial Statements

Every company registered under the Companies Act, 1956, is required to prepare its Balance Sheet, Statement of Profit and Loss, and the notes thereto in accordance with Schedule VI of the Act. Schedule VI has now been revised by the Ministry of Corporate Affairs (MCA) in order to keep the disclosure requirements in concurrence with the objective of achieving a fair and uniform presentation of financial information. In Tally.ERP 9, the following are the Financial Statements that can be generated in the format as per the Revised Schedule VI: • •

Balance Sheet Profit & Loss A/c

To view the Financial Statements, Go to Gateway of Tally > Audit & Compliance > Financial Statements Posted by financeworld at 19:47 No comments: Email ThisBlogThis!Share to TwitterShare to Facebook

Table Search Capability of Tally.ERP 9 Current Search Capability The current Table Search capability in Tally.ERP 9, allows the user to highlight a particular set of Names based on the search text entered in the field. The text is searched from the beginning of the names in the list (This type of search is called “Starts with” search) and search is applicable only to the first column of the table/list. Example: Stock Item search in Sales Voucher In the above case names are searched based on the text entered – N, in the Name of Item field and search is applicable only to the first column (Name of Item) in the table. Even after the relevant names are searched and highlighted, all the names (not required) are also displayed in the list/Table. Let’s take scenarios, 1. Where there are large numbers of names in the list/table and it is impossible for the user to remember the starting characters of the names. He may remember only a part of the name which he wants (required) to search. 2. After search, display only the relevant names based on the search text and not all the names in the table/list. The current search capability doesn’t support the above scenarios. To provide Quick and flexible search, the table search capability in Tally.ERP 9 has been enhanced. New Search Capability – “Contains” Search

The latest enhancement to table search allows the user to search a text from any part of the name which appears in the list. The table keeps on reducing and displaying only those names which fulfill the search criteria. Now it is also possible to specify whether the search criteria should be applicable only on first column or all columns of the table. Enhanced search is based on the configuration settings. To configure table search, in Advanced Configuration (Ctrl +Atl + F12 from Gateway of Tally) Or F12: Configuration > General following Configuration options are provided •

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Use ‘Reducing List’ for Tables (‘Contains’ Search): To allow the user to search a text from any part of the name that appears in the list. The table keeps on reducing and displaying only those names which fulfill the search criteria. Apply for all Columns: To specify the search criteria should be applicable on first column or all columns of the table.

Advanced Configuration (Ctrl +Alt + F12 from Gateway of Tally) - Table Configuration Screen appears as shown By default, both the above options will be set to Yes. User can alter/change configuration settings at any point of time. Note: The option Apply for all columns is a sub- option and is displayed only when the option Use ‘Reducing List’ for Tables is enabled. Table Configurations can also be done form F12: Configuration > General

Let us now see the New Search Capability of Tally.ERP 9 The Name based search will display the information as shown below: The search can also be performed in a List/Table containing multiple columns by providing the the necessary search keyword. e.g. search for Quantity of Items. The Quantity based search (in the second column) to select required item is as shown Tally.ERP 9 displays all the stock items containing Numeric 4 Table Search In Tally.ERP 9, Table Search means select (identify) a company, stock Item, Ledger, Group, stock Group, Cost Centers etc. from the List. For example: 1. Select a Company from List of Companies List of Companies is called table (which contains names of companies in the selected path).

2. Select a Ledger from List of Ledger Accounts in a Voucher List of Ledger Accounts is called table (which contains names of Ledgers) 3. Select a Stock Item from List of Items in a Voucher List of Items is called table (which contains names of Stock Item) Similarly, where ever List is displayed to select any thing say ledger, valuation methods, groups, units of Measurement, Tax Type, TDS nature of payment, Service Categories, Voucher Types, Pay head Types etc. is called Table. Posted by financeworld at 19:30 No comments: Email ThisBlogThis!Share to TwitterShare to Facebook

Tuesday, 18 September 2012 Cheque Printing in Tally The Cheque Printing option in the Banking menu allows the user to print all the pending, already printed or the required cheques continuously from a single screen. It also allows to update the cheque details of a transaction, i.e., the instrument no, instrument date, cheque favouring, etc. The bank ledger needs to be enabled for cheque printing from ledger creation or alteration mode. Click the links given below for details. Accessing Cheque Printing Printing Cheques / Cheque Printing Reports Configuring Cheque Printing

Accessing Cheque Printing To access Cheque Printing screen, •

Go to Gateway of Tally > Banking > Cheque Printing.

The Select Bank screen displaying the List of Bank appears as shown: • •

Select All or the required Bank account from the List of Bank. Press Enter.

The Cheque Printing screen of the selected Bank is displayed as shown: • •

By default, this screen displays list of pending cheques of the current date’s month. Press F6: Show All to display all the cheques.

Note: This button toggles between Show All / Hide Printed.

Bank Not Configured for Cheque Printing

The cheque printing screen will prompt with a message Bank not configured for Cheque Printing when the bank ledger not configured for cheque printing is selected, as shown: The bank needs to be enabled for cheque printing from ledger alteration screen. In the Cheque Printing screen of the ledgers configured for it, • • • •

Select the required row from the Cheque Printing list to open the voucher in alteration mode. F2: Period: Allows to change the period. F4: Bank: Allows to select All / Other required Bank from the list. F7: Edit Ch Details: Allows to edit/update the Favouring Name, Instrument No and Instrument Date columns, as shown:

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Accept the screen to save the settings.

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F12: Range: Allows to filter the Cheque printing screen. The user can filter the transactions based on the Amount, Bank Date, Date, Favouring Name, Instrument Date, Instrument No., Ledgers, Narration, Remarks and Transaction Type as shown:

Printing Cheques / Cheque Printing Reports The user may print All or selected cheque from the Cheque Printing list.

Printing All Cheques To Print All Cheque from the list, • • • •

Go to Gateway of Tally > Banking > Cheque Printing. Select the required Bank account from List of Bank. To change the selection made, press F4: Bank button to select another bank. The Cheque Printing screen is displayed. Click Print or Press Alt+P.

The Print Report screen appears. Set the option Print Cheque to Yes as shown: Note: The option - Print Cheque appears only if a particular bank is selected for printing cheques. On selecting All Items for displaying pending cheques of different banks in cheque printing screen, this option will not appear. • •

Accept to Print all the cheques. The Cheque Printing proceeds and displays confirmation for each cheque with Cheque Details, as shown:

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Confirm to print cheque one by one before printing. Additionally the facility to change the orientation and adjust the distance of top edge and left edge with flexibility to avoid printing the date on cheque is provided.

Printer Selection Press S: Select Printer button to select the printer and the paper size. Select the paper size as A4.

Orientation In the Sample Cheque Printing screen, press N: Orientation button (Alt+N) to select the orientation. The orientations - Vertical and Horizontal gets listed. On selecting Vertical - centre/left/right the cheque gets printed in vertically (oriented as portrait). Using these options, the cheque can be printed by setting the orientation to: • • •

Vertical Left: On inserting the paper in the printer tray, the cheque gets printed vertically on the left hand side of the paper. Vertical Centre: On inserting the paper in the printer tray, the cheque gets printed vertically at the centre of the paper. Vertical Right: On inserting the paper in the printer tray, the cheque gets printed vertically on the right hand side of the paper.

Additionally for printing the cheque face up or face down with vertical orientation, the field Print From (for Vertical Only) gets displayed. Depending on the printer, the front or rear can be selected. • •

Front: In printers which print face up select Front. Rear: For printers which print face down place the paper in reverse order and select Rear.

On selecting Horizontal the cheque gets printed horizontally (oriented as landscape).

Overall Adjustment Using the configuration provided for overall adjustment: •

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The cheque dimensions pre-configured on selecting the cheque format can be adjusted such that the overall dimensions get shifted by the required 'mm' from top and left edge of cheque. While printing the cheque, date field can be left blank if it is not required to be printed.

From the Sample Cheque Printing screen, click on F12: Configure button and change/retain the dimensions in 'mm' as per requirement. •

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Adjust Distance From Top Edge (in mm): To adjust the distance from top edge such that the overall measurements defined in Cheque Dimensions screen get shifted as per the 'mm' entered here. Adjust Distance From Left Edge (in mm): To adjust the distance from left edge such that the overall measurements defined in Cheque Dimensions screen get shifted as per the 'mm' entered here. Print Date: By default the date gets printed on the cheque. If the date is not to be printed on the cheque set this field to No.

Accept the configuration and print the cheque. The adjustments done for overall adjustment using F12: Configuration of cheque printing screen does not affect the settings of Cheque Dimensions pre-configured for the selected cheque format. The Printed Cheque displays as shown:

Printing Selected Cheques To Print selected Cheques from the list, • • • • • • •

Go to Gateway of Tally > Banking > Cheque Printing. Select All or required Bank account from List of Bank. The Cheque Printing screen is displayed. Press spacebar to select the required row(s). Click Print or Press Alt+P. The Cheque Printing screen appears. Accept to print the cheque(s).

Cheque Report Printing To print the Cheque report, • • • • • •

Go to Gateway of Tally > Banking > Cheque Printing. Select All or required Bank account from List of Bank. The Cheque Printing screen is displayed. Click Print or Press Alt+P. Cheque Report Printing screen appears confirming to print. Click No or Press N or Esc.

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Print Cheque: This option appears on selecting a particular bank. Set it to No. Include Printed Cheques also: Set this option to Yes to display the printed cheques also in the report. Show Forex Transactions only: Set this option to Yes in case you need only the forex transactions to be displayed in the report.

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Note: This option appears only in case Multi Currency feature is enabled for the company. • •

Show Payment Favouring: Set this option to Yes to display Favouring Name details in the report. Show Remarks also: Set this option to Yes to display the Remarks in the report.

On setting Print Cheque it to Yes, the options - Include Printed Cheques also, Show Payment Favouring and Show Remarks also gets set to No automatically as the user has opted to print cheque. If Print Cheque is set to No, a statement displaying all entries including details of printed cheques can be generated with information about favouring name and remarks as entered in the Bank Allocation sub-screen of payment voucher. The Cheque Report Printing screen is displayed as shown: •

Accept to Print.

The Cheque Report Printing is displayed as shown:

Configuring Cheque Printing The user may configure the Cheque Printing screen based on his requirement. To configure, •

Press F12: Configure, the Configuration screen is displayed as shown:

Confirm each Cheque before Print By default this is set to Yes. The cheque printing will confirm for each cheque before printing.

Include Printed Cheques also By default, this option is set to No. Set it to Yes to display the Printed Cheques also Note: This option is similar to the function key F6: Show All / Hide Printed.

Show Forex Transactions only By default, this option is set to Yes. The cheque printing screen displays only the forex transaction. Note: This option appears only in case the company is enabled with multi currency feature.

Show Payment Favouring By default, this option is set to Yes. The cheque printing screen displays the Favouring Name column. Note: The Favouring Name column displays only those names which are different from the Party/Ledger account names.

Show Remarks also By default, this option is set to No. Set it to Yes to display the Remarks also.

Appearance of Name Select the required Display Name Style from the list to display in cheque printing screen.

Scale Factor for Values Select the required Scale Factors from the list.

Sorting Method Select the required Sorting Methods from the list.

Import Masters (how To import Data In Tally)

Import Formats Tally.ERP 9 supports XML format to import data.

To Import Masters execute the following steps: Go to Gateway of Tally > Import of Data > Masters 1. In the Import of Masters screen: 2. Enter the required path and filename in the Import File Name (XML) field. If the file is located in the default folder, then you need to provide the filename only. 3. In the field Treatment of entries already existing select the required Behaviour 4. Combine Opening Balances: Select this option to import data of different branches and consolidate the opening balances. You can also select this option when the opening balances of existing masters are Zero and need to be overwritten by the balances in the data being imported. 5. Ignore Duplicates Select this option to import new masters along with the existing masters in Tally ignoring the duplicates. 6. Modify with New Data Select this option to replace the existing balances with those existing in the data imported and also override the other options available in Behaviour list. 2. Press Enter to Import Masters. 3. Double click on Tally.imp file located in the Tally.ERP folder to view the import log.

Import Vouchers To import vouchers execute the following steps: Go to Gateway of Tally > Import of Data > Vouchers 4. In the Import of Vouchers screen, enter the required path and filename in the Import File Name (XML) field. 2. Press Enter to import the Vouchers 3. Double click on Tally.imp file located in the Tally.ERP 9 folder to view the import log.

Posted by financeworld at 19:28 No comments: Email ThisBlogThis!Share to TwitterShare to Facebook

Import Data in tally

In Tally.ERP 9 you can import data from earlier versions of Tally, Tally.ERP 9 and any third party application using the predefined format of XML.

To Import Data • •

Go to Gateway of Tally > Import of Data The Import of Data menu is displayed as shown.

To read more on the step by step procedure for importing masters, vouchers and synchronization click one of the corresponding links: • • •

Masters Vouchers Synchronization

Posted by financeworld at 19:23 No comments: Email ThisBlogThis!Share to TwitterShare to Facebook

Export Tally to Excel Using the Export feature you can export Tally.ERP 9 data to Excel. Data exported to Excel can be e-mailed as an attachment, used to generate graphs for better presentation and further analysis. Go to Gateway of Tally > Balance Sheet 1. 2. 3. 4. 5. 6. 7. 8. 9.

In the Balance sheet screen click E : Export or press Alt+E. Select the required language from the list of Languages displayed. Select a format from the list of Formats displayed. By default, the exported file will be stored in C:\Program Files\Tally.ERP 9 for Windows 7 and C:\Tally.ERP 9 for Windows XP operating systems Press Enter to accept the default Output Filename or type the filename of your choice in order to save the file with a different name. Press Enter to accept the default Output Sheet Name. To update the existing file select Yes in Update Existing File. To format the contents of the file select Yes in Excel (Spreadsheet) formatting. Select Yes for the Field with Colour, to retain the background colour in the exported file.

9. Accept to export the Balance Sheet to an excel file. The exported file is saved in the default Tally.ERP9 or the specified folder, you can use this file for further analysis. Posted by financeworld at 19:19 No comments: Email ThisBlogThis!Share to TwitterShare to Facebook

Export Data from Masters in Tally.ERP 9

With the Export feature of Tally.ERP 9, you can export Tally.ERP 9 data using the available formats. The exported data can be used by other programs. To export the Masters from Tally.ERP 9 execute the following steps: Go to Gateway of Tally > Display > List of Accounts 1. 2. 3. 4.

In the List of Accounts screen press E : Export. Select the Language in which you want the data to be exported. Select a format from the list of Formats available. Press Enter to accept the default Output Filename. In case you want to save the file in another folder then type the desired path and filename.

5. Accept to export the Masters to a XML format file. The exported file is saved in the default Tally.ERP9 folder or the specified folder. Posted by financeworld at 19:11 No comments: Email ThisBlogThis!Share to TwitterShare to Facebook

Export Formats Available In Tally.Erp9 The Export functionality available in Tally.ERP 9 allows the user to export data or report in any one of the standard available formats. Tally.ERP 9 allows the user to select the required format before exporting the data and based on the format selected the user needs to specify the resolution, page size and formatting. Tally.ERP 9 also allows you to export the data in non-editable formats such as JPEG and PDF formats. The JPEG format has the with dual facility, where the user can store the file in printable format or as an image.

ASCII (Comma Delimited) By selecting the ASCII (Comma Delimited) format, the user can export all the reports or data from Tally.ERP 9. The data exported is converted to plain text separated with commas and stored in a file with the extension .txt. This file format is widely used for emailing and used for importing data into another company using Tally.ERP 9

Excel Spreadsheet The user can export data and reports generated in Tally.ERP 9 to Excel by selecting the Excel (Spreadsheet) format. The report or data is put in columns and the file is saved with the extension .xls. Tally.ERP 9 also gives the user an option to export data with formatting and background colour as it appears in Tally.ERP 9. The user can set the formatting and background colour in the Report Generation screen. The Excel file can be emailed as an attachment and also used to generate graphs for better presentation. Note: Export to Excel is compatible with Microsoft Office 97 or higher versions only.

Tally.ERP 9 exports the data faster when Excel (Spreadsheet) Formatting is set to No

HTML (Web Publishing) On selecting the HTML (Web Publishing) format, Tally.ERP 9 exports the data in HTML format retaining the colours and formatting. The file name has an extension .htm, It can be sent as an attachment and read using an internet browser. It is recommended to choose a higher resolution for better quality output.

JPEG (Image) On selecting this format the specified report is exported as an image file which is stored with an extension .jpg in the specified folder. The image file generated is non-editable, platform independent and supports the highest level of compression. The user needs to specify the paper orientation and paper size, opting to store the report on a User defined or customised paper size, the user is required to specify the page width and height in millimeters. This image file can be mailed as an attachment to a recipient, viewed using an image viewer and printed.

PDF (Portable Document Format) The report is converted to a portable data format document which is independent of the application software, hardware and operating system. This document can be viewed using the Adobe Acrobat Reader commonly known as the PDF Reader. On exporting the data using PDF format, the file is stored in the specified location and assigned the extension .pdf. While configuring the system to export data to PDF it is necessary for the user to specify the paper orientation and paper size. On opting to store the report with User defined or customised paper dimensions, the user is required to specify the page width and height in millimeters. This PDF file can be mailed as an attachment to the desired recipient and viewed using the Adobe Acrobat reader or PDF reader.

XML (data interchange) Extensible Markup Language (XML) is an extension of HTML. Using XML, data can be imported by other systems. An XML file from Tally.ERP 9 has an XML envelope and formatted with XML tags to enable import into other systems. The destination system requires re-formatting of XSLT (XML Style Sheets) based on the inherent style used in Tally before importing the data. When two systems are running different versions of Tally, XML data can be directly imported using the import menu option, without re-formatting. Note :Data stored in Tally 7.2 can be exported to Tally 9 or Tally.ERP 9. However data stored in Tally 9 or Tally.ERP cannot be exported to Tally 7.2. The exported files an any of the selected format are stored in C:\Tally.ERP 9 for Windows XP and C:\Program Files\ Tally.ERP9 for Windows 7 operating system. Posted by financeworld at 19:05 No comments:

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Checking Auto Backup Status Auto Backup Status displays the list of companies whose data is backed up at a common location and the number of entries pending for backup from each company. This report also displays the path of backup and the number of companies off-line. On completing the auto backup the status is set to complete. To access the Auto Backup Status report •

From Gateway of Tally > F3: Company Info > U: Auto Backup Status

The Auto Backup Status screen appears Posted by financeworld at 19:04 No comments: Email ThisBlogThis!Share to TwitterShare to Facebook

Restoring Tally.ERP9 Back Up Data Restore means return to the original, usable and functional condition. The Restore functionality allows you to restore the data backup taken earlier. The existing Restore utility is enhanced with an additional capability to restore data backup of multiple companies taken using the Auto Backup feature. The backup of multiple companies is stored in a single file named TABK.900 in the user defined path provided while configuring auto backup. While restoring the auto backup data, Tally.ERP 9 displays the backup version followed by the last update time. This allows the user to select and restore the latest backup. The user must ensure the following points before restoring data backup:

1. Do not restore old or irrelevant data. 2. Do not restore data from a damaged media. 3. Do not restore data in the same folder as the existing data, since it may overwrite the existing data. To restore the back-up taken on another media, execute the following steps:

Go to Gateway of Tally > Press Alt + F3 or click F3: Cmp Info The Company Info menu appears •

Select Restore.

The Restore Companies on Disk screen appears, enter the following details 1. Destination – is the path or the folder where data backup needs to be restored.

2. Source – is the folder or path where data backup file or auto backup files for multiple companies are stored. The path specified can be on the same storage device/external storage device or a storage device on the network. Note: The last provided source and the destination paths are populated and displayed.

Restore In the BackUp section •

Select the required company or companies from List of Companies displayed to restore the data or select All Items to restore data of all the companies available.

Note: To restore Auto Backup of multiple companies, select End of List in Name of Companies under Backup. 6. Accept to continue restoring the data backup. The Restoring Companies screen displays the status of data being restored.

Restore Auto Backup On entering the Destination and Source, the Restore Companies on Disk appears as shown

In the Auto Backup section •

Select the required company or companies from List of Companies displayed.

The List of Auto Backup Versions appears as shown

•

Select the required Version of backup

Similarly, select the required companies from the List of Companies displayed and select the required backup Version from the List of Auto Backup Versions. •

Select End of List to complete the selection of companies

• •

Select All Items to restore the latest backup versions of all the available companies Accept to restore the auto backup of selected or all companies

Or

The Restoring Companies screen displays the status of data being restored.

Tally Erp.9 Back up of data Back up of data can be carried out by executing the following steps: Go to Gateway of Tally > Press F3: Company Info or Press Alt+F3 1. Select Backup 2. In the Backup Companies on Disk screen, by default the cursor is at Name of Company, press Backspace to change the Source or the Destination. 3. Source – it is the source folder that contains data for which backup has to be taken, by default it is the Data folder of Tally.ERP 9 4. Destination – it is a folder or an external device (pen drive/Portable Hard Disk etc.,) connected to the same or another computer where the data backup has to be stored. 3. Select the companies whose backup has to be taken from the List of Companies displayed, then select End of List to complete the selection or select All Item to backup all the companies available in the respective data folder.

4. Accept to continue taking the backup 5. The Backing up Companies screen appears displaying the name of the company being backed up and the percentage completed. The backup file TBK900.001 is stored in the specified folder. Note : While taking a backup, if the List of Companies contains one or more TallyVaulted companies, then Tally.ERP 9 allows the user to select a single TallyVaulted company at a time. Posted by financeworld at 18:51 No comments: Email ThisBlogThis!Share to TwitterShare to Facebook

Basic Accounting For Tally

Posted by financeworld at 00:00 No comments: Email ThisBlogThis!Share to TwitterShare to Facebook

Tuesday, 5 July 2011 Tally Shortcut Key's

Function Key Combination Functionality

Availability

F1

To select a company

At all masters menu screen

F1

To select the Accounts Button

At the Accounting Voucher creation and alteration screen

F1 (ALT+F1)

To select the Inventory Button

At the Inventory/Payroll Voucher creation and alteration screen

Windows

F1 (CTRL + F1) To select Payroll Vouchers to alter

At the Accounting/Inventory voucher creation or alteration screen.

F2

At almost all screens in TALLY

To change the current date To select features

F3

F4

company

inventoryAt the F11: Features screen

To select the company

At almost all screens in TALLY

To select Company Statutory &At F11: Features screen Taxation features To select the Contra voucher At Accounting / Inventory Voucher creation and alteration screen

F5

To select the Payment voucher

At Accounting / Inventory Voucher creation and alteration screen

F6

To select the Receipt voucher

At Accounting / Inventory Voucher creation and alteration screen

F7

To select the Journal voucher

At Accounting / Inventory Voucher creation and alteration screen

F8

To select the Sales voucher

At Accounting / Inventory Voucher creation and alteration screen

F8 (CTRL+F8) To select the Credit Note voucher

At Accounting / Inventory Voucher creation and alteration screen

F9

At Accounting / Inventory Voucher creation and alteration screen

To select the Purchase voucher

F9 (CTRL+F9) To select the Debit Note voucher F10

At Accounting / Inventory Voucher creation and alteration screen

To select the Reversing JournalAt Accounting / Inventory Voucher voucher creation and alteration screen

F10 (Ctrl + F10) To select the Memorandum voucher At Accounting / Inventory Voucher creation and alteration screen F11 F12

To select the Functions andAt almost all screens in TALLY Features screen To select the Configure screen At almost all screens in TALLY

Special Key Combination Windows Functionality ALT + 2 To Duplicate a voucher

Availability

ALT + A

At List of Vouchers – adds a voucher after the one where you positioned the cursor and used this key combination.

ALT + C

ALT + D

To Add a voucher

At List of Vouchers – creates a voucher similar to the one where you positioned the cursor and used this key combination

To Alter the column in columnarAlters the column in all the reports which can be viewed in columnar format report To create a master at a voucherAt voucher entry and alteration screens, at screen (if it has not been alreadya field where you have to select a master assigned a different function, as infrom a list. If the necessary account has reports like Balance Sheet, where itnot been created already, use this key adds a new column to the report) combination to create the master without quitting from the voucher screen.

To access Auto Value Calculator in the amount field during voucherAt all voucher entry screens in the Amount entry field To delete a voucher At Voucher and Master (Single) alteration screens. Masters can be deleted subject to conditions, as explained in the manual. To delete a master To delete a column in any columnarAll the reports screen which can be viewed in columnar format report (if it has not been already assigned a different function, as explained

above)

ALT + E

To export the report in ASCII, HTMLAt all reports screens in TALLY OR XML format

ALT + I

To insert a voucher

ALT + L ALT + K ALT + O ALT + L ALT + M ALT + N

At List of Vouchers – inserts a voucher before the one where you positioned the cursor and used this key combination.

To toggle between Item andAt creation of sales and purchase invoice Accounting invoice To select the LanguageAt almost all screens in TALLY. Configuration To select the KeyboardAt almost all screens in TALLY. Configuration To upload the report at your website At all reports screens in TALLY To select language Interface To Email the report

for

TallyAt almost all screens of TALLY At all reports screens in TALLY

ALT + P

To view the report in automaticAt all the reports where columns can be columns added To print the report At all reports screens in TALLY

ALT + R

To remove a line in a report

ALT + S

To bring back a line you removedAt all reports screens in TALLY using ALT + R To retrieve the last line which isAt all reports screens in Tally deleted using Alt + R

ALT + U ALT+ V ALT + W

From Invoice screen to bring StockAt Invoice screen  Quantity Field  Journal screen Press Alt + V to select the Stock Journal. To view the Tally Web browser. At all reports screens in TALLY

ALT + X

To cancel a voucher Book/List of Vouchers

ALT + R

To Register Tally

CTRL + A

At all reports screens in TALLY

in

DayAt all voucher screens in TALLY At almost all screens in TALLY.

To accept a form – wherever youAt almost all screens in TALLY, except use this key combination, thatwhere a specific detail has to be given screen or report gets accepted as itbefore accepting. is. CTRL + B To select the Budget At Groups/Ledgers/Cost Centres/ Budgets/Scenarios/Voucher Types/ Currencies (Accounts Info) creation and alteration screen CTRL + ALTTo check the Company StatutoryAt all the menu screens +B details

CTRL + C

To select the Cost Centre

To select the Cost Category

CTRL+ E

To select the Currencies

CTRL + G

To select the Group

CTRL + I

To select the Stock Items

Ctrl + Alt + I To import statutory masters

CTRL + L

To select the Ledger

At Groups/Ledgers/Cost Centres/ Budgets/Scenarios/Voucher Types/ Currencies (Accounts Info) creation and alteration screen At Stock Groups/ Stock Categories/ Stock Items/ Reorder Levels/ Godowns/ Voucher Types / Units of Measure ( Inventory Info) creation/alteration screen At Groups/Ledgers/Cost Centres/ Budgets/Scenarios/Voucher Types/ Currencies (Accounts Info) creation and alteration screen At Groups/Ledgers/Cost Centres/ Budgets/Scenarios/Voucher Types/ Currencies (Accounts Info) creation and alteration screen At Stock Group/ Stock Categories/ Stock Items/ Reorder Levels/ Godowns/ Voucher Types / Units of Measure ( Inventory Info) creation/alteration screen At all menu screens

At Groups/Ledgers/Cost Centres/ Budgets/Scenarios/Voucher Types/ Currencies (Accounts Info) creation and alteration screen

To mark a Voucher as Optional

At the creation and alteration of Vouchers At Stock Group/ Stock Categories/ Stock Items/ Reorder Levels/ Godowns/ Voucher Types / Units of Measure ( Inventory Info) creation/alteration screen CTRL + Q To abandon a form – wherever youAt almost all screens in TALLY. use this key combination, it quits that screen without making any changes to it. CTRL + R To repeat narration in the sameAt creation/alteration of voucher screen voucher type CTRL + Alt +Rewrite data for a Company From Gateway of Tally screen R CTRL + S Allows you to alter Stock ItemAt Stock Voucher Report and Godown master Voucher Report CTRL + O

To select the Godowns

CTRL + U

To select the Units

CTRL + V

To select the Voucher Types

At Stock Groups/ Stock Categories/ Stock Items/ Reorder Levels/ Godowns/ Voucher Types / Units of Measure ( Inventory Info) creation/alteration screen At Groups/Ledgers/Cost Centres/ Budgets/Scenarios/Voucher Types/ Currencies (Accounts Info) creation and

alteration screen To toggle between Invoice and Voucher At creation of Sales/Purchase Voucher screen

Special Function Key Combination Windows

Functionality

Availability

ALT + F1

To close a company

At all menu screens

To view detailed report

At almost all report screens

To explode a line into its details

At almost all screens in TALLY

ALT + F2

To select Inventory vouchers to alterAt the Inventory/ Payroll voucher creation or alteration screen. To change the period At almost all screens in TALLY

ALT + F3

To select the company info menu To create/alter/shut a Company

At Gateway of Tally screen

ALT + F4

To select the Voucher Type

OrderAt Accounting / Inventory creation and alteration screens

Voucher

ALT + F5

To select the Sales Order VoucherAt Accounting / Inventory Type creation and alteration screens

Voucher

ALT + F6

ALT + F7

Purchase

To view monthly and quarterlyAt almost all report screens in TALLY report To select the Rejection Out VoucherAt Accounting / Inventory Voucher Type creation and alteration screens To change the Sales Order Voucher Type To select the Stock Journal VoucherAt Accounting / Inventory Type creation and alteration screens

Voucher

ALT + F8

To accept all the Audit lists At TallyAudit Listing screen To select the Delivery Note VoucherAt Accounting / Inventory Type creation and alteration screens

Voucher

ALT + F9

To view the Columnar report At Ledger Voucher screen To select the Receipt Note VoucherAt Accounting / Inventory Type creation and alteration screens

Voucher

ALT + F10

To select the Voucher Type

ALT + F12

To filter the information based onAt almost all report screens monetary value

Ctrl + F1

Physical

To select payroll alteration CTRL + ALTAdvanced Config + F12

StockAt Accounting / Inventory creation and alteration screens

vouchers

forAt the Accounting/Inventory creation or alteration screen At Gateway of Tally

Voucher

Voucher

Key Combination used for navigation Windows

Functionality

Availability

PgUp

Display previous voucher duringAt voucher entry and alteration screens voucher entry/alter

PgDn

Display next voucher during voucherAt voucher entry and alteration screens entry/alter

ENTER

To accept anything you type into aYou have to use this key at most areas in field. TALLY To accept a voucher or master

ESC

At the receivables report – press Enter at a pending bill to get transactions relating To get a report with further details ofto this bill (e.g., original sale bill, receipts and payments against this bill, etc) an item in a report. To remove what you typed into aAt almost all screens in TALLY. field To come out of a screen

SHIFT ENTER SHIFT ENTER

To indicate you do not want to accept a voucher or master. +Collapse next level details At Voucher Register screen and Trial Balance report +To explode a line into its details In almost all Reports: At a Group/Stock Group/Cost Category/Godown/Stock Category – displays Sub Groups and Ledgers/Stock Items/Cost Centres/Secondary Godowns/Secondary Stock Categories At a Voucher – displays its entries and narration At a Stock Item- displays its godowns and batch details At Voucher Register screen – displays the next level details

CTRL ENTER

At Trial Balance report - displays the next level details +To alter a master while making anAt voucher entry and alteration screens entry or viewing a report At all reports

Posted by financeworld at 08:18 1 comment: Email ThisBlogThis!Share to TwitterShare to Facebook

Saturday, 18 June 2011 Basic Accounting

Basic concept of accounting

Accounting: It is an art of recording, classifying and summarizing in significant manner and in terms of money, transactions and events which are of financial character and interpreting the results thereof.

Business transaction: A business transaction is “The movement of money and money’s worth form one person to another”. Or exchange of values between two parties is also known as “Business Transaction”.

Purchase:

A purchase means goods purchased by a businessman from suppliers.

Sales:

Sales is goods sold by a businessman to his customers.

Purchase Return or Rejection in or Outward Invoice: Purchase return means return of the full or a part of goods purchased by the businessman to his suppliers.

the

Sales Return or Rejection out or Inward Invoice: Sales return means the return of the full or a part of the goods sold by the customer to the businessman.

Assets: Assets are the things and properties possessed by a businessman not for resale but for the use in the business.

Liabilities: liabilities.

All the amounts payable by a business concern to outsiders are called

Capital:

Capital is the amount invested for starting a business by a person.

Debtors:

Debtor is the person who owes amounts to the businessman.

Creditor:

Creditor is the person to whom amounts are owed by the businessman.

Debit:

The receiving aspect of a transaction is called debit or Dr.

Credit:

The giving aspect of a transaction is called credit or Cr.

Drawings: Drawings are the amounts withdrawn (taken back) by the businessman from his business for his personal, private and domestic purpose. Drawings may be made in the form cash, goods and assets of the business.

Receipts: It is a document issued by the receiver of cash to the giver of cash acknowledging the cash received voucher.

Account: Account is a summarized record of all the transactions relating to every person, every thing or property and every type of service.

Ledger:

The book of final entry where accounts lie.

Journal entries:

A daily record of transaction.

Trail Balance: It is a statement of all the ledger account balances prepared at the end of particular period to verify the accuracy of the entries made in books of accounts.

Profit: Excess of credit side over debit side.

Profit and loss account:

It is prepared to ascertain actual profit or loss of the business.

Balance Sheet: To ascertain the financial position of the business. It is a statement of assets and liabilities. Types of accounts

Personal account: Personal accounts are the accounts of persons, firms, concerns and institutions which the businessmen deal.

Principles:

Debit the receiver Credit the giver

Real Account: These are the accounts of things, materials, assets & properties. It has physical existence which can be seen & touch. Ex. Cash, Sale, Purchase, Furniture, Investment etc.

Principles:

Debit what comes in Credit what goes out

Nominal account: Nominal account is the account of services received (expenses and Losses) and services given (income and gain) Ex. Salary, Rent, Wages, Stationery etc.

Principles:

Debit all expense/losses Credit all income/ gains Tally 7.2

Tally is a complete business solution for any kind of Business Enterprise. It is a full fledged accounting software.

Procedure for creating company in Tally

Double click on Tally icon on desktop. Alt+F3 Company info-Create company.

Accounts Only: To maintain only the financial accounts of the company. Inventory (stock) management is not involved in it.

Account with Inventory: This is the default option, which allows maintaining both the financial account of the company as well as the inventory of the company.

Select Company:

We can choose the company which is already created.

Shortcut key - F1.

Shut Company: Alt+F1.

Alter:

It is used to close the company which is opened. Shortcut key -

It is used to make alterations in the company creation like name, date, maintain etc.

Quit:

Exits from Tally. 1. Click on quit button. 2. Esc, Esc, Esc and enter. 3. Ctrl+Q

Short cut keys

Alt+F3

Enter

Company information menu

To accept information typed into a field. To accept a voucher or master. To get a report with further details of an item in a report.

Esc

To remove what has been typed into a field. To exit a screen.

To indicate you do not want to accept a voucher or master.

To accept a form wherever you use the key combination the screen or report will be accepted as it is on this screen.

It quits the screen without making any changed to it.

Alt+C

To create a master at a voucher screen.

When working within an amount field presses Alt+C to act as a calculator.

Alt+D

To delete a voucher. To delete a master.

Ctrl+Enter

To alter a master while making an entry or viewing report.

F2

Date

Alt+F2

Change period

Alt+F1

To see detail

F11

Features company

F12 directory.

Configuration options are applicable to all the companies in a data

Ctrl+N

Calculator screen.

Ctrl+V

Voucher mode (Cr. Dr) Invoice mode (name of item, rate, quantity, and amount) Gateway of tally-Accounts info-Group

Bank account

Bank Account

Bank Od account

Branch/division

Capital account

Cash in hand

Current asset Deposit Direct income Indirect income

Current liability Direct expenses Indirect expense Duties and tax

Fixed asset

Investment

Loans and advance

Loan (liability)

Miscellaneous expenses

Provisions

Retained earning

Reserves and surplus

Purchase account

Sales account

Secured loan

Stock in hand

Sundry debtor’s

Sundry creditors

Suspense

Unsecured account Meaning:

Current asset: It is converted into cash with in a year. Ex. Bills receivable

expenses: These are the expenses which are directly related to manufacturing of goods. Ex. Wages, factory rent, heating, lighting etc

ct expense:

ciation:

These are the expenses which are indirectly related to manufacturing of goods. Ex. Salary, rent, stationery, advertisement, printing

Decrease the value of the asset.

Sundry debtors:

Sundry creditors:

The person who is the receiver or customer

The person who gives or supplier.

Expenses Outstanding or Unpaid expenses or Expenses due: Expenditure incurred during current year but the amount on which is not yet paid. (Added to the expenditure on the debit side and entered on the liability side.)

Income received in advance or Income received but not earned Income received during the current year but not earned or a part of which relates to the next year. (Deducted form the concerned income on the credit side and entered on the liability side)

Prepaid advance or Expenses or Prepaid expenses Expenditure paid during current year but not incurred or a part of which relates to the next year is called expenditure prepaid. (Deducted form the concerned expenditure on the debit side and entered on the assets side)

Income outstanding or income earned but not received or Income accrued Income outstanding means income earned during the current year but the amount on which is not yet received (added to the concerned income on the credit side and entered on the asset side)

Gateway of Tally-Accounts info-ledger-create

Ledger Opening stock Purchase Purchase return Fright charges Carriage inwards or Purchases Cartage and coolie Octroi Manufacturing wages Coal, gas, water Oil and fuel

Group Stock in hand Purchase account Purchase account Direct expenses Direct expenses Direct expenses Direct expenses Direct expenses Direct expenses D

Factory rent, insurance, electricity, lighting and heating Sales Salary Postage and telegrams Telephone charges Rent paid Rates and taxes Insurance Audit fees Interest on bank loan Interest on loans paid Bank charges Legal charges Printing and stationery

irect expenses Direct expenses Sales account Indirect expenses Indirect expenses Indirect expenses Indirect expenses Indirect expenses Indirect expenses Indirect expenses Indirect expenses Indirect expenses Indirect expenses Indirect expenses Indirect expenses

General expenses Sundry expenses Discount allowed Carriage outwards or sales Traveling expenses Advertisement Bad debts Repair renewals Motor expenses Depreciation on assets Interest on investment received Interest on deposit received Interest on loans received Commission received Discount received Rent received Dividend received Bad debts recovered Profit by sale of assets Sundry income Loan from others Bank loan Bank overdraft Bills payable Sundry creditors Mortgage loans Expense outstanding Income received in advance Other liabilities Capital Drawings Cash in hand Cash at bank Fixed deposit at bank Investments Bills receivable Sundry debtors Closing stock Stock of stationery Loose tools Fixtures and fittings Furniture Motor vehicles Plant and machinery Land and building Leasehold property Patents Goodwill Prepaid expenses Income outstanding

Indirect expenses Indirect expenses Indirect expenses Indirect expenses Indirect expenses Indirect expenses Indirect expenses Indirect expenses Indirect expenses Indirect expenses Indirect income Indirect income Indirect income Indirect income Indirect income Indirect income Indirect income Indirect income Indirect income Indirect income Loan Liabilities Loan Liabilities Bank OD Current Liabilities Sundry creditors Secured loans Current Liabilities Current Liabilities Current Liabilities Capital account Capital account Cash in hand Bank account Deposit Investments Current asset Sundry debtors Stock in hand Current asset Fixed asset Fixed asset Fixed asset Fixed asset Fixed asset Fixed asset Fixed asset Fixed asset Fixed asset Current asset Current assset

Trading account: Buying and selling of goods.

Dr. aspect Cr.

Receiving aspect

Giving

Direct expenses To Opening stock To Purchases To To To To To To To To

(-)purchase return Freight charges Cartage and coolie Lorry hire Manufacturing expenses Wages Factory rent, fuel power Gross profit (transfer to profit and loss account)

Amount Direct Income xxx By Sales By (-)Sales xxx return xxx By Closing stock xxx xxx xxx xxx xxx xxx

Amount xxx xxx xxx

xxx

To Profit and loss account: Actual profit and loss of the business

To To

Indirect expenses or payments Salary Postage and Telegram

To To To To To To To To To To To To To To To

Telephone charges Rent paid Rate and taxes Insurance paid Interest on bank loan Bank charges Printing and stationery Discount allowed Advertisement Carriage outward (sales) Depreciation on assets General expenses Traveling Bad debts Net profit

Amount xxx xxx xxx xxx xxx xxx xxx xxx xxx xxx

Indirect income or receipts By Gross profit By Interest on investment received By Interest on deposit received By Interest on loans received By Discount received By Discount received By Rent received By Bad debts received By Net loss

Balance sheet: Actual financial position

Amount xxx xxx xxx xxx xxx xxx xxx xxx xxx

Liabilities Bank loan Bank overdraft Bills payable Sundry creditors Expenses outstanding Capital (-)drawings Net profit

Amount xxx xxx xxx xxx xxx xxx xxx xxx

Assets Amount Cash in hand xxx Cash at bank xxx Fixed deposit at bank xxx Investments xxx Bills receivable xxx Sundry debtors Closing stock Stock of stationery Furniture Plant machinery Land and building Motor vehicles Prepaid expenses Income outstanding

xxx xxx xxx xxx xxx xxx xxx xxx xxx

Alt+F3 Company Creation Gateway of tally-Accounting voucher

F4

Contra:

Records funds transfer between cash and bank accounts. Deposit into bank or Opened bank account Cr. Cash Dr. Bank Withdraw form bank

Cr. Bank Dr. Cash

F5

Payment:

Record all bank and cash payments. Paid or Give

Dr. Cr. Cash/bank (in case cheque)

F6

Receipt:

Records all receipts into bank or cash accounts. Received or Borrow or Take Cr. Dr. Cash/bank (in case cheque)

F7

Journal:

Records adjustments between ledger accounts.

F8

Sales:

Records all sales.

Dr. Cash/party (incase of creditparty) Cr. Sales F9 party)

Purchase:

Records all purchase. Cr. Cash/party (incase of creditDr. Purchase

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.

Soled 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 Sl.No

Key

1

F6

2

F4

3

F5

4

F8

5

F9

Voucher

Ledger

Cr. Capital Dr. Cash Cr. Cash Contra Dr. Bank Dr. Office furniture Payment Cr. Cash Dr. Cash Sales Cr. Sales Purchase Cr. X Receipt

Group Capital account Cash in hand Cash in hand Bank account Fixed asset Cash in hand Cash in hand Sales account Sundry creditor

Type of account Personal Real Real Real Real Real Real Real Personal

Principles Giver Comes in Goes out Comes in Comes in Goes out Comes in Goes out Giver

Amount 10,000 10,000 15,000 15,000 3,000 3,000 2,500 2,500 2,000

Dr. purchase 6

F8

7

F6

8

F5

9

F6

10

F6

11

F4

12

F5

13

F9

14

F8

15

F5

Purchase account Sundry debtors Sales account

Dr. Y Cr. Sales Cr. Y Receipt Dr. cash Cash in hand Dr. X Payment Cr. Cash Cash in hand Cr. commission Indirect income Receipt Dr. cash Cash in hand Cr. Interest on bankIndirect income Receipt deposit Dr. Bank Bank account Cr. Cash Cash in hand Contra Dr. Bank Bank account Dr. Advertisement Indirect expenses Payment Cr. Cash Cash in hand Cr. Cash Cash in hand Dr. purchase Purchase Purchase account Cr cash Dr. cash Cash in hand Sales Cr. Sales Sales account Dr. salary Indirect expense Payment Cr. Cash Cash in hand Sales

To view(for ledger)

Real

Comes in

2,000

Personal Real

3,000 3,000 2,000 2,000 1,000 1,000

Real Real

Receiver Goes out Giver Comes in Receiver Goes out Credit all income Comes in Credit all income Comes in Goes out Comes in Debit all expenses Goes out Goes out

Real

Comes in

800

Real Real

Comes in Goes out Debit all expenses Goes out

1,500 1,500

Real Real Nominal Real Nominal Real Real Real Nominal

Nominal Real

Gateway of tally-Accounts info-Ledger-Multiple ledger Alter-All items

Gateway of tally-Display-Day book-Alt+F1 (to see detail) (Accounting Voucher)

Inventory information

Alt+F3 Company creation-Maintain-Accounts with inventory Gateway of Tally-Inventory information-Unit of measure Gateway of tally –Inventory information-Godown

50 50 100 100 1,000 1,000 500 500 800

500 500

Gateway of tally-Inventory information-Stock group Gateway of tally – Inventory information-Stock item

To View Gateway of tally-Display-Day book-Alt+F2 (change period) Alt+F1 (to see detail)

or

Gateway of tally-Stock summary

1. On 1-4-06 Raman commenced business with cash of Rs. 25,00,000. He further introduced Land and Building costing Rs. 30,000, Plant and Machinery costing Rs. 25,000 and furniture and fixture costing Rs. 36,000.

2. On 2-4-06 Purchased Vehicle and Patents Rs. 20,000 and Rs. 15,000.

3. On 5-4-06 He deposited Rs. 1, 00,000 into Canara Bank.

4. On 6-4-06 Purchased from Cadbury Company 500

5 Stars @ Rs. 5

1000

Cadbury @ Rs. 5

100

Kit kat @ Rs. 4

200

Dairy milk @ Rs. 7

5. On 10-4-06 Purchased from Paras 500

Moov @ Rs. 20

500

D’Clod @ Rs. 12

6. On 13-4-06 Sold to Pankaj 200

Moov @ Rs. 20.50

100

D’Clod @ Rs. 12.25

200

Adhensive tape roll @ Rs. 15.25

100

Band Aid box @ Rs. 252

200

Boric Acid powder @ Rs.14

7. On 15-4-06 Sold to Akbar 500

Cadbury @ Rs. 6

200

5 Star @ Rs.5.25

50

Kit Kat @ Rs. 6

8. On 16-4-06 Paid to Cadbury company Rs.

9. On 18-4-06 Received from Pankaj

10. On 20-4-06 Paid to Paras Rs.

11. On 25-4-06 Received from Akbar Rs.

12. On 26-4-06 Purchase from Well Cloth

T-Shirts

Lee-25Pc-Rs.200 Nike-30Pc-Rs.300

Formal Shirts Pan America-35Pc-400 Peter England-30Pc-450 Jeans Pants

Tiger-20Pc-500 Ruff and Tuff-30Pc-350

Cotton Pants Arrow-40Pc-200 Ex-Calibar-20Pc-250

13. Paid Postage Rs. 500 by cheque 14. Received commission Rs. 15,000 15. Paid wages Rs. 2,500

Procedure for Inventory Problem

Gateway of Tally-Inventory Info-Unit of Measure-CreateSymbol-

Nos.

Pcs

Formal Name-Number

Pieces

Gateway of Tally-Inventory Info-Stock Group-Create Chocolate, Medicines, Cotton Pants, Jeans Pants, Formal Shirts, T-Shirts

Gateway of Tally-Inventory Info-Stock Item-Create

5 Stars Kitkat

Chocolate

Cadbury Dairy milk

Moov D’Clod

Adhensive tape rolls

Medicines

Band Aid box Boric Acid powder

Lee

T-Shirts

Nike

Pan America

Formal Shirts

Peter England

Tiger

Jeans Pants

Ruff and Tuff

Arrow Ex-Calibar

Cotton Pants

Journalize the following Transactions using the debit and credit given by the American accounts

1. Commenced business with cash

10,000

2. Deposited into bank

5,000

3. Purchased goods for cash

3,000

4. Sold goods for cash

2,500

5. Purchased goods from A on credit

4,000

6. Sold goods to B on credit

4,500

7. Withdraw from bank

3,000

8. Paid A on account

2,000

9.

2,500

Received from B on account

10. Took loan from C

5,000

11. Gave loan to D

4,000

12. Paid salary

1,000

13. Cash withdraw from the business for personal use

200

14. Rent paid to E

1,000

Ledger

Group

Capital

Capital Account

Cash

Cash in hand

Bank

Bank account

Purchase

Purchase account

Sales

Sales account

A

Sundry creditor

B

Sundry debtor

C

Sundry creditor

D

Sundry debtor

Salary

Indirect expenses

Drawings

Capital account

Rent

Indirect expenses

Rakesh and company

1.

Started business with cash Rs. 2,000, Bank Rs. 20,000.

2.

Issued cheque for goods purchased Rs. 1,000.

3.

Bought goods for cash Rs.8,000.

4.

Bought furniture from Anil for cash Rs.100.

5.

Bought goods from harish Rs. 1,500.

6.

Bought goods from chandan on credit Rs. 5,800.

7.

Returned damaged goods to Chandan Rs.800.

8.

Bought goods from Naveen and paid by cheque immediately Rs.400.

9.

Sold goods to Guptha Rs. 1,000.

10. sold.

Received a cheque from Guptha Rs.1,000 for goods

11.

Paid commission Rs.2,000.

12.

Paid wages by cheque Rs.4,000.

13.

Draw cheque for personal use Rs.4,000.

14.

Draw cash for personal use from bank Rs.3,000.

15.

Receive a cheque from Manju Rs.2,800.

16.

Borrow loan from Anands Rs.1,000.

17.

Paid Anands Loan with interest Rs.1,000.

Ledger Capital Bank Purchase

Group Capital account Bank account Purchase account

Anil Chandan Harish Purchase return Naveen Sales Guptha Commission Wages Drawings Manju Anand

Sundry Creditor Sundry Creditor Sundry Creditor Purchase account Sundry Creditor Sales account Sundry debetor Indirect expenses Direct expenses Capital account Sundry Creditor Sundry Creditor

Haridas and company

1.Started business with cash Rs.10,000,furniture Rs.4,000 and machinery Rs.5,000. 2.Bought goods from Anil on credit Rs. 4,000 and for cash Rs.5,000. 3.Sold goods to Rajesh on credit Rs.5,000 and for cash Rs.3,000. 4. Bought goods from Arun Subject to trade discount of 2% of Rs.2,000. 5. Sold goods to Ramesh subject to trade discount of 5% of Rs.4,000.

6. Paid salary Rs.1,000, printing Rs.150 and wages rs.100. 7.Received rent Rs.500, commission Rs.400. 8. Received a cheque from Ganesh Rs.1,000.

Ledger

Group

Capital

Capital account

Furniture

Fixed asset

Machinery

Fixed asset

Purchase

Purchase account

Anil

Sundry Creditor

Sales

Sales account

Rajesh

Sundry debtor

Arun

Sundry creditor

Ramesh

Sundry debtor

Salary

Indirect expenses

Printing

Indirect expenses

Wages

Direct expenses

Rent

Indirect expenses

Commission

Indirect expenses

Ganesh

Sundry creditor

Trade discount

Indirect expenses

Memorandum book Particulars 1. Commenced business with cash Rs. 10,000. 2. Purchased goods for cash Rs.3,000. 3. Opened a bank account with Rs.2,000. 4. Purchased stationary Rs.1,00. 5. Purchased furniture Rs.1,000. 6. Sold goods to A Rs.2,000. 7. Purchased goods from B Rs.2,000. 8. Sold goods for cash Rs.1,000. 9. Paid for postage Rs.20. 10.

Took loan from C Rs.1,500.

11.

Paid rent Rs.300.

12.

Withdraw from bank Rs.800.

13.

Received from A on account Rs.500.

14.

Paid commission by cheque Rs.200.

Ledger Capital Purchase Bank Purchase Stationary Furniture Sales A B Potage C Rent Commission

Group Capital account Purchase account Bank account Purchase account Indirect expenses Fixed asset Sales account Sundry debtor Sundry Creditor Indirect expenses Sundry Creditor Indirect expenses Indirect expenses

Roa and company

Particulars

1. Bought goods for cash 2. Bought office furniture for cash 3. Paid for postage 4. Purchased goods from Rajkamal

Rs.

2,500 500 10 2,000

5. Sold goods for cash

150

6. Bought goods from Rahim

400

7. Sold goods to Suresh

400

8. Sold goods to Nayak

250

9. Purchased goods for cash

400

10. Recevied cash from Nayak

200

11. Paid cash to Rahim 12. Returned goods to Ralkamal 13. Suresh returned goods

50 200 50

14. Paid salary

150

15. Sold goods for cash

500

16. Rao withdraw for his personel use

800

17. Paid for stationery 18. Paid rent

100 50

19. Received commission

Ledger Capital Purchase Postage Rajkamal Sales Rahim Suresh Nayak Purchase returns Salary Drawings Stationary Rent Commission

225

Group Capital account Purchase account Indirect expenses Sundry Creditor Sales account Sundry Creditor Sundry Debtor Sundry Debtor Purchase account Indirect expenses Capital account Indirect expenses Indirect expenses Indirect income