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Tally Practical Assignment with Solution Pdf Download

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Tally Practical Assignment with Solution PDF Download:-  Welcome to our website. Here we are happy to provide you with  Tally Solutions . At  gurujistudy.com you can easily get Tally Prime Notes PDF, Tally Practical Assignment in PDF, Tally Notes in Hindi and English in PDF, PDF Notes Tally Prime, Download Tally PDF Notes in English & Hindi, Tally Books Notes in Hindi PDF Download, Tally Books Notes in English PDF Download, Tally all study materials and notes in pdf for free. If you are preparing for Banking and RRB then there is a single-stop destination as far as preparation of all of these examinations is concerned. Here in this post, we are happy to provide Chapter Wise & Topic Wise Tally Practical Assignment PDF download.

Brief of GST

Business For Purchase & Sales Of Goods Business for Service providing Who is Compulsory For GST Registration Document Required For GST Registration GST What is GSTIN Number Types of GST Rates GST Rates How GST Apply in Tally How GST Apply to Invoice SGST  (State Tax) & CGST (Central Tax) IGST (Interstate Tax) – Purchase GST Invoice, Sundry Creditors Sale GST Invoice Sundry Debtors

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Tally Prime Full Course Notes with Assignment

Tally Prime Full Course Topic wise Computer Training Institute Notes with Assignment for Self Study Purpose. As we are aware that Tally is business solution software, which is widely used for Account, Stock Management and Payroll of employees. After roll out of GST in India, the use and popularity of Tally Software increased many fold.

The Tally solutions, release the Tally Prime to replace it most successful version Tally ERP9. The new software Tally prime is more user friendly and interactive. Further, new package simplified the way of working and maintain business. It also take care of all possible sales strategies and very easy to work with it.

There is no doubt that Tally Prime is leading business solution and being used from small town to metro cities. Naturally, skill manpower to work on Tally is required every where. Therefore, most of the Commerce students are prefer to learn the Tally. But, there is no such requirement, any one who are willing to learn, can easily work on tally Prime.

We are going to share Tally computer Course Training Notes with Practice Example and Assignment PDF. One can easily learn Tally Prime with in one month with the help of Notes. The Topic wise notes are given below.

Tally Prime Full Course Notes

Thanks for Study the Tally Prime Full computer Training Course Notes with Example.

Moreover, we are happy to share PDF of Tally Prime Book for free download.

Tally Prime Book PDF Free Download – SSC STUDY

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How To Easily Learn Tally Online With Practical Assignments

Every business needs accounting since it’s essential for everything from tracking expenses to choosing investments to calculating profits. we can say that learning tally is a terrific skill to have in the job market. even there’s no need to be physically present in the class to learn tally. nowadays, thanks to the internet you can learn tally online. this article has included how to learn tally online and everything you need to know about tally. there are so many institutes that provide tally courses online. so, let’s get started..

What is Tally?

• Tally stands for Transaction Allowed in Linear Line Yards.
• It is an accounting and inventory management application software.
• It which can record daily business transactions or accounting works like sales, purchases, payments received, banking or taxation, etc.
• The most popular way we can say that Tally is an Accounting Software.
• It is designed and developed by Tally Solutions which is a Bangalore-based IT Solution Company.
• In 1986, S.S Goenka was the founding chairperson of Tally Solutions Private Limited.
• Developed based on Accounting principles and Mercantile Law.
• It is simple yet powerful software.
• It is a window-based software.
• It is a stand-alone application.
• It is developed using the Tally Definition Language (TDL).
• It supports,

-Bookkeeping

-MIS report

Versions of Tally Software 

Other Features of Tally Software

• User-friendly accounting software
• Multi-lingual
• Excellent backup provisions
• Easy exit to an operating system
• Tally can maintain books of account either with inventory or without inventory.
• It can work with multiple company accounts simultaneously.
• Tally can get offline and online support.
• It can be installed on any version of Windows OS like NT, 2000, ME, 95, 98, XP, 7 Ultimate, Vista, and Windows 8. Etc.
• Many computerized accounting software requires numeric codes to maintain the account. But Tally pioneered that no accounting codes were needed.

Skills required in Tally

Career and Scope in Tally

Having the skill set of Tally software may help you land your chosen job path quickly if you are someone wishing to start a futuristic career in the accounting field. It is because Tally is extensively used across all business sizes, from small to large across all sectors. 

90% of companies and businesses are said to use Tally software for their daily accounting tasks.

Additionally, the top MNCs and Retail businesses of all kinds, financial institutions, financial organizations (NGOs), hospitals, BPO and KPO sectors, and chartered accountant companies are among the many different industries that use Tally software.

You can have so many career choices in Tally. Such as-

• Inventory Manager
• Data Entry Operator
• Billing Executive
• Tally freelancers
• Tally Course Benefits
• Scope of Tally Courses in India

Job Profiles and Salary in Tally

The common job profiles offered in the organizations for accountants with Tally skill sets are-

Many students who are looking for Diploma Courses after 10th/12th or after graduation and planning to look for career opportunities in computer accounting can learn tally.

The purpose of the tally training course is to teach students the fundamentals of accounting and how to integrate such concepts with the tally platform. Although it’s easy to learn, for ways of operation one must grasp how the software works as well as be familiar with its applications.

Tally Jobs in India

Requirements for Learning Tally Online.

• Any student who wants to learn tally software online should have a computer or laptop with an internet connection.
• Nowadays it has become very easy to learn any software or anything from home.
• There are so many courses with certification and placement assistance in Tally you can opt for.
• Here we have listed some of the best Tally courses you can learn online.
• All of these courses are completely online, so there’s no need to show up to a classroom in person.
• You can access your lectures, readings, and assignments from reputable institutes anytime and anywhere via the web or your mobile device.

More Professional Courses from IIM SKILLS

• Digital Marketing Course
• Technical Writing Course
• Content Writing Course
• Investment Banking Course
• Business Accounting And Taxation Course
• CAT Coaching

Learn Tally Online: IIM SKILLS

IIM SKILLS is one of the global leading institutes that provides professional courses in various subjects including writing, marketing, accounting, etc.

The tally master course by IIM SKILLS is one of the best for getting hands-on experience. It is a comprehensive training program that covers all of Tally’s topics and features. Students learn precisely how to manage and maintain accounts, inventory, GST, and payroll at Tally in the course modules. The training module is particularly informative because it starts from the basics, providing a foundation for your understanding of Tally. Also, a variety of practical assignments and tasks are included to ensure that students grasp the subject well. IIM SKILL’s professional guidance allows one to interact, clear doubts and learn more effectively.

Course Name: Tally Course

Duration of the Course: 18 Hours of Self Learning, 20 Hours of Lecture

Mode of the Course: Online

Fees: Rs.2, 900 + 18% GST

Course Syllabus:

Course Offerings:

• Access to Learning Management System (LMS)
• Self-Paced Learning
• Software Tools
• 60+ Hours Practical Assignment
• Internship Opportunities
• Dedicated Placement Cell
• Govt. of India Recognized Certification

Certificate Availability: Yes

Contact Information:

Email ID: [email protected]

Phone Number: +91 9580 740 740

Learn Tally Online: Tally Training

In-depth information is covered in the Tally ERP9 online course with GST to match the industry’s accounting standards. With the use of real-world examples and tally entries, Tally Training not only explain the principles but also show you how to practically apply them in your day-to-day accounting process.

Course Name: Tally ERP9 Expert Course

Duration of the Course: 1 or 2 Months

Fees: Rs.1800

Couse Syllabus:

• Learning in Hing-lish language
• DVD(Videos + eBook PDF)

Contact Information

Phone Number: +91 9081211174

Learn Tally Online: Vskills

Intelligent Communication Systems India Limited (ICSIL), a department of the Indian government, manages the skills certification programs.

Their certification programs help students measure and exhibit the skills that have high demand and business value. Vskills Tally ERP9 course provides students with a clear understanding of accounting as well as the necessary practical aspects. Thanks to their self-paced training, even newbies can gain from the course’s worthwhile teaching.

Course Name: Certificate in Tally ERP9

Duration of the Course: 19 Hours

Fees: Rs.3, 499

Couse Syllabus: 

• Introduction to Tally ERP9
• Stock and Godwon in Tally
• Groups, Ledgers, Vouchers and, others
• Reports in Tally ERP9
• Back and Restore in Tally ERP9
• Tally.NET in Tally ERP9
• Government Certification
• Lifelong e-learning access

Phone Number: +011 4734 4723

Recommend Read,

• Advanced Tally Courses
• Tally ERP 9 Certificate
• Learn Online Tally
• Tally Training Benefit
• Tally Courses Uses
• Tally Course Eligibility

Learn Tally Online: LearnVern

LearnVern teaches students in the user’s native language. You can learn their Tally courses in Hindi.

Their method of instruction encourages critical thinking, learning by doing, and teaching by example. To help students in remembering the subject better, their Tally course material is enhanced with graphics, animations and, photos. LearnVern also gives practical training through assignments and tests.

Phone Number: +91 88490 04643

Learn Tally Online: UDEMY

Udemy is one of the best online platforms that provide various Tally certification courses. All of these courses are accessible from anywhere at affordable prices. Here we’ve listed three courses among others with the highest rating. You will learn how to use the tally program for payroll, audit, TDS, and GST accounting of any organization.  Their tally course provides students the chance to work on real-time projects in addition to assignments.

• Assignments
• Access on Mobile and TV
• Full Lifetime Access

Please, go to their official website for further details.

Learn Tally Online: Coursera

Students who want to build a career in bookkeeping or want to learn how to manage their account books, Coursera offers the best Tally Bookkeeper professional certificate course.

In their unique 4-month Tally Book Keeper Professional Certificate program, three separate Tally software-related courses are offered. It comprises most of the theoretical and instructional modules. You have to take the course in the specific order listed because the content builds on the previous session.

Program Name: Tally Bookkeeper Professional Certificate

Fees: You can enroll for free.

• Interview Prep

Learn Tally Online: InternShala Trainings

InternShala is an Ed-tech company that provides live, interactive learning in digital format.

Their Online Tally course has covered all the accounting-related concepts. They also provide quizzes and assignments after completing every module to revise your knowledge. 

Duration of the Course: 6 Weeks, 1hr/day (Flexible Schedule)

Fees: Rs.4499

• Basic Concepts of Accounting
• The world of Tally
• Accounting process in Tally
• Bank reconciliation statement
• Tax Deducted at source (TDS) & Collected at Source (TCS) accounting in Tally
• Payroll in Tally
• Goods and Service Tax (GST) accounting in Tally
• Data extraction from Tally
• Some extra topics
• Final training project
• Placement Assistance
• Learn in Hindi
• 1:1 Doubt Solving
• Hands-On-Practice

Learn Tally Online: FITA Academy

Tally Online courses at FITA Academy offer comprehensive instruction in the tally ERP9 software from Journal Entries to finalizing accounts, including managing GST and other taxation. 

You will learn the ins and outs of accounting and finance-related Tally. The modules are covered from both basic and advanced standpoints to help student comprehension of the subject better. Their online Tally course also includes real-world assignments to meet industry standards.

Course Name: Online Tally Course

Duration of the Course:

• Tally-Advanced accounting professional-basics in financial accounting
• Introduction to Tally
• Configuring Tally ERP9
• Company Management
• Master- Ledgers and Groups
• Understanding Vouchers in Tally
• Tally ERP9 reports
• Inventory configuration in Tally ERP9
• Managing inventory using Tally ERP9
• Goods and Service Tax (GST)
• Purchase and Sales reports
• GST reports and returns
• Using tally to manage point of sales (POS)
• Bank reconciliation
• Tally-expert accounting professional
• Payroll accounting
• More advanced topic
• Live Projects
• Instructor-led Live Class
• Flexibility
• Placement Support

Phone Number: 93450 45466

Learn Tally Online: Frequently Asked Questions

Q. can i learn to tally online through a laptop.

Answer: Yes, Students who wish to study tally software online should have access to a computer or laptop with an internet connection.

Q. Which Tally is best for beginners?

Answer: The latest version of Tally Prime is easy to learn. There is no longer a need for prior expertise or specialized training in Tally. You can easily use Tally Prime for your regular accounting tasks with only a simple installation and setup.

Q. Can learning Tally online is difficult?

Answer: Beginners have the choice of enrolling in expert courses provided by reputable institutions or learning the program on their own with the help of blogs and videos that are easily available online.

Q. Where can I practice Tally?

Answer: The Tally Software Education version is available on  www.tallysolution.com  website. You may practice it by downloading it for free.

Q. Which industries can one enter after completing the Tally course?

Answer: The private and public sectors provide a ton of options. Banking, finance, business manufacturing, IT industries, and so on. You can also work in sales, marketing, insurance, and HR.

Learn Tally Online: Conclusion

That’s all about how to learn tally online. In this article, we have focused on tally software, its feature, also the scope and career opportunities in tally. And institutions that provide tally training online. We hope this might have helped to get some insights about tally.  If you plan to learn tally online, you can get in touch with the experts of this institute that will provide you with the information and exposure you need in this area.

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Learn Latest Tally ERP9 with GST free at Teachoo. Notes and videos provided on how to put ledgers, learn in which head the ledger will come, important tally features, reports and errors in Tally, how to prepare files for return filing

To practice GST Return Filing with Tally, take our Tally course .

In this Tally Tutorial, we cover

• Basics - What is Tally, How to install Tally for GST, Creating Company in Tally ERP9
• Ledgers - Creating Ledgers, Heads in which Ledger comes, Seeing Ledgers created, Alter or Changing Ledgers, Putting Opening Balances in Tally
•   Passing Entries in Tally - Type of Accounting Vouchers in Tally ERP9, Seeing Entries Passed, Passing Duplicate Entries, Deleting Entries, Passing Receipt, Payment, Contra Entries, Passing Purchase Entries, Sales Entries, Mixed Entries
• Important Tally Features - Tally Shortcuts, Copying Narration in Tally, Copying Tally GST Data in Pendrive, How to Paste or load Tally Data, Mailing Tally Data, Exporting Tally Data in Excel or PDF, Seeing Party or Ledger Balance, Printing Voucher in Tally, Checking Daily Breakup of Transactions in Tally, Deleting Company from Tally
• Important Tally Reports -  Debtor Aging Report, Cost Center Reporting/Segment Reporting, BRS (Bank Reconciliation in Tally)
• Common Errors in Tally - Duplicate Ledger, Period not accepting while passing entries in Tally, Difference in opening balances

Get the notes now... Click a topic to start!

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Basics of Tally

Ledger creation and alteration, passing entry in tally, important tally features, important tally reports, common errors in tally.

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Tally_Assignment

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F7ÎManufacturing Journal) Also additional cost incurred for producing shirts Wages Rs. 5000/-, Electricity Rs. 500/- and Packaging Rs. 2000/- F11ÎF2ÎUse Multiple Price Levels Company Price Levels : 1) Price costing GOTÆInventory InfoÆPrice List Price Level for Shirt (Garments) Page 50 of 90

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Practical Assignments : GST Accounts–Tally

The Practical Assignments-Tax Accounts- covers  Basic tasks of Maintaining GST Accounts, from set up, Data Entry to GST Reports, in Tally Prime Rel 3.x.  

This assignment is in continuation to Practical Assignments of Basic Financial Accounting & Basic Invoicing & Inventory Accounts. Maintain GST Accounts  in the same Company in which Basic Financial Accounts and Basic Invoicing &  Inventory Accounts Practical Assignments data were entered.  

Perform the operations for each Assignment as explained. Capture the screenshots (Prtscr) and paste it in MS Word file in 1×1 cell. Write the number and Name of screen shot as indicated. Explain the options and operational step.  

This way, capture the screenshots and place in MS Word file, in sequence. Don’t repeat same screenshot.  

After completing all assignments, take Back up of the data files. Now email to [email protected], attaching the Data Back Up file and screenshot zip file.       

GST Accounting – Practical Assignments

Continue in same Company after previous assignments

01-1 Company GST Features

[At Company >Click F11. At Company Features , under section Taxation , set Yes at Enable Goods & Services Tax (GST) . Next, At GST Details screen , under GST Registration Details section, enter the relevant details.]  

Capture Screenshot 1-1A : Company Features . 1-1B : Company GST Details set up  

For more details, visit

https://dvidya.com/goods-service-tax-gst/ https://dvidya.com/goods-services-tax-gst-set-up-composition-dealers-tally/ https://dvidya.com/goods-services-tax-gst-set-up-regular-dealers-tally/ https://youtu.be/STv3wbduT8A https://youtu.be/RwJJIYC6msE https://youtu.be/VSS48c_LZXY https://youtu.be/OjSvFYUJ_bI   https://youtu.be/mLrLyOeDX78 https://youtu.be/7wlTsturfks

02 GST Masters

02-1 Create SGST Ledger Account Master

[Select GoT>Create> Ledger. At Ledger Account creation , at Name , enter SGST; at Under , select Duties & Taxes ; at Tax Type , select SGST/UTGST ; At Inventory Values are affected , set No .  

Capture Screenshot 1-2 : SGST Ledger Account Creation.  

https://dvidya.com/gst-set-up-accounts-inventory-masters-tally/ https://youtu.be/x8VZLjVEeug https://youtu.be/XVZbi0-ufDY https://youtu.be/Uzsise4yZXg

02-2 Create CGST Ledger Account Master

[Select GoT>Create> Ledger. At Ledger Account creation , at Name , enter CGST; at Under , select Duties & Taxes ; at Tax Type. At Inventory Values are affected , set No .   Capture Screenshot 2-2 : CGST Ledger Account Creation.  

02-3 Create IGST Ledger Account Master

[Select GoT>Create> Ledger. At Ledger Account creation , at Name , enter IGST; at Under , select Duties & Taxes ; at Tax Type select I GST ; At Inventory Values are affected , set No .  

Capture Screenshot 2-3 : CGST Ledger Account Creation.  

https://youtu.be/XVZbi0-ufDY

02-4 UQC set up in UoM Master

Set UQC in UoM – Kilograms [Select GoT>Alter> Unit. Select Kilogram. At Unit Alteration , at Unit Quantity Code (UQC) , select KGS-Kilograms from the UQC list. Press Ctrl+A to save].  

Capture Screenshot 2-4 : UoM-UQC set up.  

https://youtu.be/KAKto78n9fQ

02-5 GST details set up in Stock Item Master

Set GST details in Stock Item Wheat, Select GoT>Alter> Item. Select Wheat, At Stock Item Alteration,  Under HSN/SAC & Related Details, at  HSN/SAC  Details , select Specify Details Here. At HSN Description – Food grains, HSN Code- 1234, At Description of Goods, select Specify Details Here , Under GST Rate and related Details, At GST Rate details, select Specify Details Here . At Taxability Type, select Taxable . At GST Rate, enter the GST Rate applicable for the Item. At Type of Supply, select Goods .  

2-5 : Capture Screenshot UoM-UQC set up.  

https://youtu.be/U7fuonC9dkI https://youtu.be/LK-df_Oh6Vk

02-6 Set GST details in Supplier Master

At Supplier Ledger Account, enter Tax related details [Select GoT>Alter>Ledger,  select ABC & Co. At Ledger Alteration, click F12:Configure. At Ledger Master Configuration screen, under Party Tax Registration details , set Yes at Provide GST Registration details . At Tax Registration details of Ledger Account Master, Enter Registration Type- Regular, GSTIN 19AAAC1234K1ZV. At Set Alter Additional Details, set Yes and then Place of Supply, select the State of the Party.  

Capture Screenshot : 2-6A: Ledger Account Master, 2-6B: Ledger Master Configuration screen,

https://youtu.be/1_jlZD8mXkI https://youtu.be/B6jEPMw26Tg  

03 GST Invoicing

3-1 Create GST Sales Invoice .

Create Sales Invoice for 10 kg of Wheat @25 per kg sold to ABC & Co on 1-5-21. [Select GoT>Vouchers. Click F8:Sales (or press F8). Select Sales Voucher type from List. Click Ctrl+H and select Item Invoice . Enter Voucher Date 1-5-21 . At Party A/c Name , select ABC & Co . At Sales Ledger, select Sales .  At Name of Item , select Wheat , At Quantity , enter 10 kg. at Rate , enter 25/kg. The amount 250 would be shown. In next line, select End of List . Next select SGST, the SGST amount (15.00) would be auto calculated. Next select CGST. the CGST amount (15.00) would be auto calculated. The total Invoice amount (250.00+15.00+15.00 = 280.00) is displayed. Press Ctrl+A to save the Voucher].  

Capture Screenshot : 3-1 GST Sales Invoice Entry ,

https://youtu.be/L57aR4Zb7GM https://youtu.be/S0y56oS7r1U

3-2 Print the Sales Voucher

Voucher dated 1-5-23 on ABC Co [Select GoT>Day Book . At Day Book display, press F2 and Date 1-5-23. Select the Sales Voucher from the list to get the Voucher Alteration. Press Ctrl+P to get the Print screen. Click I:Preview to View the  Print form of the Invoice on screen]    

Capture Screenshot : 3-2 GST Sales Invoice in Print ,

https://youtu.be/L57aR4Zb7GM https://youtu.be/S0y56oS7r1U  

03-03 GST Reports

• Display GSTR-1 for 1-4-23 to 31-7-23

[Select GoT>Display more reports>GST Reports>GSTR-1. Click F2:Period (or press F2) and enter Period from 1-4-23 to 31-7-23 to display GSTR-1 Report  

Capture Screenshot : 3-3 GSTR-1 Display, https://dvidya.com/gsrt-1-return-filing-tally/

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Home Tally Company Creation in Tally.ERP 9

Company Creation in Tally.ERP 9

Tally Solutions | Updated on: May 4, 2022

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• Introduction

How to create a company in Tally.ERP 9?

• Details to be filled in the company creation screen
• To save the details entered in the company creation screen

Introduction to company creation

The first and foremost thing to do when we start accounting with tally is to know how to create a company in Tally ERP 9. If you are operating multiple businesses, you can create several companies in Tally.ERP 9 software at a single cost.

Tally.ERP 9 has outgrown from the concept of just  accounting software  to managing statutory compliance by updating statutory files available at Tally solution website. Today one can operate Tally remotely using Tally.net features, process payroll and many more features are updating regularly by Tally solutions. The most recent improvement is GST) with compatibility from version Tally.ERP 9 release 6.

Watch video on how to create a company in TallyPrime

To create a company in Tally.ERP 9,

Details to be filled in company creation screen

It is nothing but the data storage location. The tally directory will store all data you entered in Tally ERP 9. Anyway, by default, the data storage will be inside the installation folder.

In this field, we are required to type the name of the company, for example. XYZ INC.

Primary mailing details

Mailing name.

In this data field, we are required to enter the address of the company.

Here we are required to select the country from the list in which the business Operates.

In this data field, we have to select the state in which we would comply with statutory laws

Pincode of the location where the office exists.

Contact details

Enter the Company contact number which we would like to display on Invoices

Enter the Contact number of Managing Person to whom any queries related to Invoicing or Delivery of product, complaint in the product could be reached to

Enter the Fax number to which any confirmation statements, ledger copies etc., could be sent and received

Enter the company’s email address to which any product inquiry and other communications could be made.

Enter the company’s web address if any

Books and financial year details

Financial year begins from.

In this data field, you have to type the financial year in which you want to create a company. Suppose you may be starting company on December 01 2018, you should enter the financial year from as 01.04.2018.

Book beginning from

• Starting in the middle of the financial year.
• Companies which are migrating from Manual Accounting to Tally ERP 9 in the middle of the financial year.

Security control

Tally vault password (if any).

This data filed is for security purpose. By enabling this field, Tally ERP 9 Convert tally data into an encrypted format. To encrypt means convert data from recognised format to unrecognised format.

By entering the Tally Vault password we can prevent unauthorized access of company data. Now in Latest Tally ERP 9, There is a password strength indicator, which will help you to set a strong password. Red colour indicates a weak password whereas peach-orange colour: fair, Yellow is good and Green colour indicates a strong password.

CAUTION: FORGETTING TALLY VAULT PASSWORD WILL RENDER THE DATA INACCESSIBLE

Use security control?

Enabling this data field, we will get complete control over the data, we can assign users for specific purposes, for example :

• We can assign data entry operators who can access only voucher entry screens.
• We can assign billing clerks who can access only Sales invoice voucher
• We can assign Financial managers who can access financial data’s and reports as the administrator control his access.

In this data field, we will be asked the administrator name and password.

Base currency information

Base currency symbol .

In this data field, the currency symbol of the country is auto selected based on the country of origin fed by you in the previous data field. There is no need to change this data field if you are using the same currency for accounting.

Formal name

This is the formal name of the currency selected in the previous field

Suffix symbol to amount?

This data field will ask you whether currency symbol is required for example: prior to amount like  $ 4,500

Add space between amount and symbol?

This data field is like  $ 4,500 space in between currency symbol and amount.

Show amount in millions?

If we set this data field to Yes, Tally will display the amount in millions that are in the Balance sheet or other reports. Amount for example 100,00,000 will be shown as 10. [One million equals 10,00,000].

Number of decimal places

It is a general practice to use 2 decimal places, for example :

• for using Paisa in Indian currency we use 2 decimal place.
• for using cents in American dollar currency we use 2 decimal places

Word representing amount after decimal

This data field is used in printing, in Indian currency decimal portion is said to be Paisa. Set this field as per your formal name of the decimal value in your currency. For USD it is cents. Hundred cents make one dollar.

Number of decimal places for amount in words

If we set this data field to 1 decimal places in Indian currency, then while printing 75 Paisa. Will print as seventy Paisa, if we set this to 2 decimal places, then it will print the second fraction like seventy-five Paisa.

To save the details entered in company creation screen

If you have entered all the details and after verifying it seems to be right, then you have to accept the screen by pressing Enter and again Enter to accept and save the details.

Note: If we have enabled the Tally Vault password, then in the next screen it will ask the Name of the user and Password details. After entering these details, Tally ERP 9 will create a company and direct you to the Menu Gateway of Tally Where you can create masters and enter transactions.

Watch Video on How to Create Company in TallyPrime

Tally solutions | nov-20-2019.

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Home » Business & Management » What is Tally?

What is Tally? Features, Types, Uses, and Advantages

Tally is one of the most popular accounting software in the world and is used by more than 20 lakh businesses across 100 countries today. It helps companies record their day-to-day transactions and helps to analyze business-related data. This financial software is a product of ERP (Enterprise Resource Planning) and is used for various financial accounting purposes. 

Tally software is provided by the company Tally Solutions Private Limited, which is an Indian technology company, where the word ‘Tally’ means to keep records. So today, let’s understand what is Tally, its definition, history, uses, and more.

Table of Contents

Tally Definition

Tally is an ERP accounting software. It provides business solutions, GST software, and in-built features which makes it popular among enterprises around the world. 

It is very different from manual accounting where there are high chances of human error. When you are using the Tally software, you just have to input all your data and tell the software how you want the data to be processed, and the software does all the calculations for you. This data can then be backed up for future use and will be available to check at the click of a button. 

Today, Tally software is part of small, medium, and large enterprises alike. Tally ERP 9 was released in the year 2009, and it is one of the most used accounting software. Tally has recently released a new version of Tally ERP 9 software in the year 2020. This software is called Tally Prime and it offers more advanced features.

Uses Of Tally

Tally is like a digital accounting book where you can enter your debits or credits without manually writing them and calculating them in a physical book. You can enter your entries in the same way digitally. Here are the various uses of Tally software:

You can create ledgers in Tally for all your financial transactions.. You can also create separate ledgers for each business or client account. For example – You can start a ledger for your bank account or a ledger for how much a client owes you in Tally. 

There are two types of ledger accounts in Tally:

• Profit and Loss Account

These ledgers are already included in the Tally ERP 9. You can create and add more ledgers according to your requirements.

2. Vouchers

Vouchers are documents that consist of all the details regarding a financial transaction. This software comes with several types of vouchers such as:

• Contra Vouchers: These are transactions that record the inflows of cash from the bank and vice versa. 
• Payment Vouchers: These vouchers record transactions that are made to a third party.
• Receipt Vouchers: These vouchers help to record the flow of cash within an organization.

Advantages of Tally

Tally has made complex calculations easy and reduced error rates. It can be customized depending on your organization’s needs to give accurate solutions. The following are some of the advantages of Tally for your business: 

• Tally offers exceptional safety and security features. This means people will not be able to tamper with your data.
• Tally helps you in calculating the salaries of employees of your organization by including net deductions, bonuses, and tax deductions. 
• Tally software is used in the banking industry to calculate the interest on loans or deposits. The software makes complex calculations easier and makes banking much simpler. 
• The software ensures that data entered across all geographical locations remains accurate and consistent. This means organizations that are spread globally, will see uniform data in the software in all countries. 
• Tally ensures that small companies work within a budget. It helps you ensure that your company stays within the allocated budget. 
• The software helps companies file tax returns every year ensuring it complies with the updated GST norms. 
• Employees of an organization from anywhere in the world can access the data on this software with their unique User ID and password which makes using the software flexible. 
• You can find all your old documents in the archive folder of Tally. It saves all your bills, vouchers, and receipts which can be easily retrieved if needed. 
• It is cost-effective software that ensures that all financial transactions are running smoothly. 
• With the latest version of Tally software, you can digitize your signature and bills.

In this blog, we have talked about what is tally, its history, and its features. Technically it has become a part of almost every business today. In 2022, the company even started working with Amazon web services on its cloud computing platform. It has made calculations easier, helps to save a lot of time, and ensures that businesses run smoothly. It has also reduced the chances of human error significantly.

Tally was first introduced in 1986 by Shyam Sundar Goenka and Bharat Goenka.

There are two types of Tally- Single-Use Tally software and Multi-Use Tally software.

The first version of Tally is Tally 4.5 which was released in 1990.

Tally is a well-known accounting program that employs its own database known as Tally Database. Tally Database is a binary file-based database system built exclusively for Tally software.

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Payal Dang is the brains behind Internshala’s financial prowess. She is the Assistant Vice President of Finance at Internshala. With over 10 years of experience, Payal excels at financial operations including budgeting, forecasting, and financial reporting. She is a domain expert who completed the coveted FAFD course from ICAI on her first attempt.

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False reports of explosives found in a car near a Trump rally spread online

Nassau County Police scan buildings surrounding Nassau Coliseum before the start of a rally featuring Republican presidential nominee former President Donald Trump, Wednesday, Sept. 18, 2024, in Uniondale, N.Y. (AP Photo/Ted Shaffrey)

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NEW YORK (AP) — Law enforcement officials on Long Island worked quickly on Wednesday to publicly knock down social media posts falsely reporting that explosives had been found in a car near former President Donald Trump’s planned rally in New York.

The false reports of an explosive began circulating hours before the Republican presidential nominee’s campaign event at Nassau Coliseum in Uniondale, just days after he was apparently the target of a second possible assassination attempt .

Nassau County Police Commissioner Patrick Ryder said police questioned and detained a person who “may have been training a bomb detection dog,” near the site of the rally and “falsely reported explosives being found.”

Lt. Scott Skrynecki, a spokesperson for the county police, said in follow-up messages that the person, who police have not yet identified, was a civilian and not a member of a law enforcement agency.

He also said the person was not working at or affiliated with the event, which is expected to draw thousands of Trump supporters to the arena that was formerly the home of the NHL’s New York Islanders.

The rally is Trump’s first on Long Island, a suburban area just east of New York City, since 2017.

In 2020, President Joe Biden defeated Trump by a roughly 4% margin on Long Island, besting him in Nassau County by about 60,000 votes, though Trump carried neighboring Suffolk County by more than 200 votes.

Earlier Wednesday, Skrynecki and other county officials responded swiftly to knock down the online line claims, which appear to have started with a post from a reporter citing unnamed sources in the local police department.

The claims were then shared widely on X, formerly Twitter, by a number of prominent accounts, including that of the company’s owner, Elon Musk, which has nearly 200 million followers. Spokespersons for X didn’t immediately respond to an email seeking comment.

“False,” Skrynecki texted the AP as the claims spread.

“No. Ridiculous. Zero validity,” said Christopher Boyle, spokesperson for Nassau County Executive Bruce Blakeman.