TALLY ACCOUNTING (TALLY ERP 9)
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Course Duration : 3 Months
ATHMOJYOTI CONSULTANCY SERVICES
Month 1: Introduction to Tally & Basic Accounting Concepts
Week 1-2: Introduction to Accounting & Tally
Basic Accounting Principles
Definition and importance of accounting.
Types of accounts: Personal, Real, and Nominal Accounts.
Basic accounting equation: Assets = Liabilities + Capital.
Debit and Credit rules.
Introduction to Tally ERP 9
Overview of Tally software and its features.
Installation and configuration of Tally.
Navigating the Tally interface: Gateway of Tally, Menu Bar, Reports.
Understanding the Tally screen layout.
Company Creation in Tally
Creating a new company: Company name, financial year, and base currency.
Setting up firm details and configuring the chart of accounts.
Week 3-4: Creating Ledgers & Recording Transactions
Creating and Managing Ledgers
Types of Ledgers: Cash, Bank, Sales, Purchase, Expense, Income, etc.
Creating Primary, Secondary, and Group ledgers.
Understanding ledger classification: Assets, Liabilities, Income, and Expenses.
Voucher Entry in Tally
Different types of vouchers in Tally: Payment, Receipt, Contra, Sales, Purchase, and Journal vouchers.
Recording basic transactions:
Cash transactions: Payment and Receipt vouchers.
Bank transactions: Contra and Bank Receipt/Payment vouchers.
Sales and Purchases: Sales and Purchase vouchers.
Basic Accounting Entries
Recording sales and purchase invoices.
Receipt and payment for bank transactions.
Understanding GST (if applicable): basic GST rates, GST on purchase, and sales transactions.
Month 2: Advanced Features of Tally ERP 9
Week 5-6: Inventory Management
Stock Management in Tally
Enabling Inventory Management in Tally.
Creating stock items: product name, unit of measure, and opening stock.
Stock groups and stock categories.
Managing Stock Transactions
Recording purchase and sales transactions with stock items.
Using Stock Journal for stock adjustments.
Tracking inventory: stock reports (e.g., Stock Summary, Stock Item-wise Report).
Inventory Valuation Methods
Overview of FIFO (First In, First Out) and LIFO (Last In, First Out).
Stock valuation: How Tally calculates stock value.
Batch-wise/Serial Number Tracking in Tally.
Week 7-8: Advanced Vouchers & Reporting
Advanced Voucher Entries
Recording Credit Sales and Credit Purchases.
Handling contra and journal entries.
Purchase and Sales Returns: creating and managing returns entries.
GST and Taxation
Setting up GST in Tally (GST rates, GST ledgers).
Generating GST reports: GST summary, GST return filing.
Recording TDS (Tax Deducted at Source) entries and reporting.
Working with Reports
Trial Balance: Understanding the trial balance report.
Profit & Loss Statement: Generating and analyzing the P&L report.
Balance Sheet: Understanding assets, liabilities, and equity.
Cash Flow and Funds Flow reports.
Month 3: Practical Application & Finalizing Accounts
Week 9-10: Payroll & Employee Management
Setting up Payroll in Tally
Creating payroll units: Company, Employee, Payhead.
Configuring salary details: Basic Salary, Deductions, Bonus, etc.
Recording salary payments and statutory deductions (PF, ESI, etc.).
Generating Payroll Reports
Pay Slip: Generating pay slips for employees.
Employee-wise Salary Report and Payroll Summary.
Week 11-12: Year-End Procedures & Final Accounts
Finalizing Accounts
Understanding the concept of year-end closing.
Balance Sheet adjustments at the end of the financial year.
Bank Reconciliation: Reconciling bank statements with Tally entries.
Closing Stock Entries: Accounting for closing stock.
Preparing Financial Statements
Finalizing Profit and Loss Statement.
Preparing Balance Sheet and Cash Flow for the financial year.
GST Returns: Filing returns for GST, GSTR-1, GSTR-3B, etc.
Backup and Restore in Tally
Creating backups of your data.
Restoring company data when needed.
Final Project and Evaluation
Practical Project: Set up a company and carry out full accounting, including:
Creation of ledgers and vouchers.
Recording of transactions.
Generation of accounting and tax reports.
Year-end procedures and finalization of accounts.
Evaluation: Practical test covering all aspects learned during the course.
Additional Skills and Resources
Tally Customization: Introduction to Tally customization (e.g., altering voucher formats, customizing reports).
Online Tally Resources: Exploring online tutorials, forums, and communities for continuous learning.
Tally Certification: Preparing for Tally certification exams (optional).
Module 1: Introduction to Tally ERP 9
1.1 Overview of Tally ERP 9
What is Tally?
Tally ERP 9 is accounting software that is used for managing finances, accounting, inventory, and taxation. It is widely used by small, medium, and large businesses.
Features of Tally
Accounting: Supports multiple accounts, ledgers, and advanced reporting.
Inventory Management: Tracks stock and inventory.
GST Compliance: Calculates and generates GST reports.
Payroll: Manages employee salary details and generates payroll reports.
Multi-currency support: Works with multiple currencies.
Tally Interface
The Gateway of Tally is the first screen where you can access all the features of Tally.
Example:
After launching Tally, the screen will show options like Company Info, Accounting Vouchers, Inventory Vouchers, Reports, etc.
Module 2: Setting up Tally and Company Creation
2.1 Creating a New Company in Tally
Steps to create a company:
From the Gateway of Tally, go to Create Company.
Fill in details like Company Name, Address, Country, State, Financial Year, Base Currency, and Enable GST (if applicable).
Example:
o Company Name: ABC Traders
o Financial Year: 2025-2026
o Base Currency: INR
2.2 Configuring Company Details
Once the company is created, you can configure additional settings such as:
F11: Features: Enable or disable features like inventory, GST, and TDS.
F12: Configure: Configure voucher types, printing preferences, etc.
Module 3: Creating Ledgers and Voucher Entries
3.1 Creating Ledgers
Ledgers are the individual accounts where business transactions are recorded.
Types of Ledgers:
Personal Ledgers: For customers, suppliers, etc.
Impersonal Ledgers: For assets, liabilities, expenses, and income.
Example:
Cash Ledger: Name: Cash, Type: Asset (under Current Assets).
Sales Ledger: Name: Sales, Type: Revenue (under Sales Accounts).
3.2 Recording Transactions with Vouchers
Vouchers are used to record business transactions in Tally.
Payment Voucher: Used to record payments (cash or bank).
Receipt Voucher: Used to record receipts (cash or bank).
Sales Voucher: Used to record sales transactions.
Purchase Voucher: Used to record purchase transactions.
Example:
Payment Voucher:
Date: 01/05/2025
Paid to Supplier ABC ₹10,000 for office supplies (Cash Payment).
Sales Voucher:
Date: 05/05/2025
Sold goods worth ₹5,000 to Customer XYZ.
Module 4: Inventory Management
4.1 Enabling Inventory Management
To track inventory, you need to enable Inventory Features.
Go to F11: Features and enable Inventory Management.
4.2 Creating Stock Items
Stock Items are the goods or products you deal with.
Example:
Stock Item Name: Mobile Phone
Stock Group: Electronics
4.3 Managing Stock Vouchers
Purchase Voucher: To record the purchase of stock items.
Example:
Purchase 10 Mobile Phones @ ₹5,000 each.
Sales Voucher: To record the sale of stock items.
Example:
Sold 5 Mobile Phones @ ₹7,000 each.
4.4 Stock Reports
Stock Summary: Displays the summary of stock on hand and stock valuation.
Stock Item-wise Report: Provides details about individual stock items, including quantity and value.
Module 5: Advanced Voucher Entries
5.1 Recording Credit Sales and Purchases
Credit Sales: When goods are sold on credit, record a Sales Voucher.
Example:
Sold goods worth ₹50,000 to Customer ABC on credit.
Credit Purchases: When goods are purchased on credit, record a Purchase Voucher.
Example:
Purchased goods worth ₹30,000 from Supplier XYZ on credit.
5.2 Purchase and Sales Returns
Purchase Return: When goods purchased are returned, record a Purchase Return Voucher.
Example:
Returned goods worth ₹5,000 to Supplier XYZ.
Sales Return: When goods sold are returned, record a Sales Return Voucher.
Example:
Returned goods worth ₹3,000 from Customer ABC.
Module 6: Taxation in Tally (GST, TDS)
6.1 Setting up GST in Tally
Go to F11: Features and enable GST.
Create GST Ledgers for different tax categories like SGST, CGST, IGST, etc.
Example:
Sales Ledger: Sales @ 18% GST
GST Output Ledger: CGST 9%, SGST 9%
6.2 Recording GST Transactions
When recording sales, apply the appropriate GST rates.
Sales Example:
Sold goods worth ₹10,000 plus 18% GST (₹1,800) = ₹11,800.
6.3 Generating GST Reports
GSTR-1: Sales details report for GST filing.
GSTR-3B: Summary of outward and inward GST for the period.
Module 7: Payroll Management
7.1 Enabling Payroll Features
Go to F11: Features and enable Payroll.
7.2 Creating Payroll Masters
Employee Creation: Create an employee master with details such as name, designation, salary, and statutory deductions (PF, ESI, etc.).
Example:
Employee Name: John Doe, Designation: Manager, Salary: ₹50,000.
7.3 Processing Payroll
Record Salary payments via Payroll Voucher.
Salary Example:
Paid ₹50,000 salary to John Doe after deductions.
7.4 Generating Payroll Reports
Pay Slip: Generates the employee pay slip.
Payroll Summary: Provides a summary of salaries, deductions, and payments.
Module 8: Financial Statements and Reports
8.1 Trial Balance and Balance Sheet
Trial Balance: Ensures that total debits equal total credits.
Example:
Assets = Liabilities + Equity
Balance Sheet: Displays the company’s assets, liabilities, and owner’s equity.
8.2 Profit & Loss Account
Displays the company’s income and expenses to calculate profit or loss.
8.3 Cash Flow and Funds Flow Reports
Cash Flow: Shows the movement of cash in and out of the business.
Funds Flow: Shows the sources and applications of funds in a company.
Module 9: Year-End Closing & Backup
9.1 Year-End Closing
Close the Books: Close the books of accounts by transferring balances to the Capital Account.
9.2 Backup and Restore
Backup: Creating a backup of the Tally data.
Restore: Restoring the backup in case of data loss.
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