CONFIGURATION TALLY - EBA

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Tabeed Malpani
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  • M.VijayKumar
    AsstProf
    M.E.SInstitute ofManagement
    UNITIV
    CONFIGURATIONTALLY
    CONFIGURINGTALLY(F12)
    ConfigurationinTallyappliesforthecompany.Theyare
    1)GENERAL:Ingeneralconfiguration,itcontainsthedetailsofCountry,
    Stylesofnamesappearing,Numberconfiguration,tableconfiguration,
    Import/Exportoptions.Thesearetheoptionswhichcanbeoperated
    accordinglytotherequirement.

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  • 2)NUMBERSYMBOL/NUMERICALSYMBOL:Thisoptionisonlyforthe
    numberstylesandprefix/suffixtobeuseandsymbolsfordebit&credit
    amounts.
    3)ACCOUNTS/INVENTORYINFOMENU:thisoptionallowstheAccounts
    andinventorytousetheaddressandcontactdetailsorgodowndetails
    anddescription,remarksofthestocks.

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  • 4)VOUCHERENTRY: Twooptionsalwaystobeactivated
    a)UseSingleEntrymodeforpayment/receipt/contra:NO
    b)UseCr/DrinsteadofTo/Byduringanentry :YES
    OtheroptionsinVoucherentrycanbeactivatedaspertherequirement
    ofacustomer.
    5)INVOICEORORDERENTRY: ThisoptionisusedonlywhentheInvoice
    orderisbeenneeded

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  • WORKINGINTALLY
    ToworkwithTallyFundamentalknowledgeisrequired.Onemustknow the
    goldenrulesofaccountingforpreparationofFinalAccounts.Inearlytimes
    manualsystem ofaccounting was required formaintaining the Books of
    AccountssuchasJournal,Cashbook,Specialpurposebook,Ledgerandsoon.
    SuchlengthyprocessofpreparingAccountsisbeensimplifiedintally.InIndia,
    TallyERP9IsthemostpopularandreliablebusinesssoftwareforFinance,
    Accounting,inventory and Payrollmanagement.Tally professionals having
    expertiseincomputerAccounting,Taxation,PayrollAccounting,Excise,VATand
    ServiceTaxarehighlydemanded.
    TheprocessofaccountingofTallyisgivenbelow:
    1)CreationofCompanyinTally
    2)IdentifythegroupsandLedgerstobecreatedrespectivelyforthespecific
    transaction
    3)Identifythe monetarytransaction with thehelp ofgivenvoucheror
    Invoices
    4)Know theparticularledgertobeDebitorCreditwiththehelpofthe
    transactiongiven
    5)Inadditionaltothevoucherentries,Costcenter,Costcategoriesarealso

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  • beencreatedforaccountingpurposeandStockitems,stockcategories,
    andunitsofmeasurementwillbecreatedfortheInventoryinformation.
    6)Onenteringallthetransactions,reportswillbeautomaticallygenerated
    GROUPCREATION
    AGroupisacollectionofledgerswhichhavesimilartransactions.Forexample,
    allaccountheadsrelatingtofixedassetsofthecompanyaregroupedunderthe
    fixedassetsprimarygroupinTally.ERP9.Usingthisclassification,onecan
    generate reports thatare meaningfulas wellas compliantwith statutory
    requirements.
    TallyERP(providesasetof28Pre-definedgroupsunderwhichledgerscanbe
    classifiedi.e,15Primarygroupsand13-SubGroups.Outofthe15Pre-defied
    primarygroups,9primarygroupsareofCapital(WhichappearinBalanceSheet)
    and6Primarygroupsarerevenuenature(whichappearinProfit&LossAccount).
    All13Sub-groupsareclassifiedunderthenineprimarygroupsthatarecapitalin
    natureandappearintheBalancesheet.
    15PrimaryGroups
    13SubGroups
    Branch/Divisions
    BankAccounts
    CapitalAccount
    BankODA/c
    CurrentAssets
    Cash-in-hand
    CurrentLiabilities
    Deposits(Asset)
    DirectExpenses
    Duties&Taxes
    DirectIncomes
    Loans&Advances(Asset)
    FixedAssets
    Provisions
    IndirectExpenses
    Reserves&Surplus
    IndirectIncomes
    SecuredLoans
    Investments
    Stock-in-hand
    Loans(Liability)
    SundryCreditors
    Misc.Expenses(ASSET)
    SundryDebtors
    PurchaseAccounts
    UnsecuredLoans
    SalesAccounts
    SuspenseA/c

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  • CreatingaGroup
    InTally.ERP9therearetwooptionsforcreatingGroups:
    SingleGroupWecancreateonlyoneGroupbyusingSingleGroupcreation
    screen.
    MultipleGroups WecancreatemultipleGroupsbyusingMultipleGroup
    Creationscreen.
    CreatingaSingleGroup
    GroupisacollectionofLedgersofthesamenature,Tally.ERP9allowsyouto
    creategroupsasperyourrequirements.
    GotoGatewayofTally>AccountsInfo.>Groups>CreateunderSingleGroup
    TheGroupCreationscreenisdisplayedasshown:
    NameofGroup: EnterthenameoftheGrouptobecreated.
    ForexampleAdministrativeExpensesinthenamefield.

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  • Alias: Enteranaliasnametoallow accesstothegroupusingtheAliasin
    additiontoitsnameorleaveitblank.Forexample,forAdministrativeexpenses,
    youcanenterOfficeExpenseorevenanalphanumericcode,sayE001,asan
    alias
    Under:Specifyunderwhichexisting(Parent)groupthesub-classificationis
    required.
    Pre-definedGroupsinTally.ERP9
    Bydefault,Tally.ERP9providesalistofGroupscalledpre-definedgroups.The
    usercancreateanynumberofPrimaryGroupsandSubGroupswhichareagain
    groupedunderaPrimaryGroup/SubGroup.
    .
    CREATINGALEDGER
    GotoGatewayofTally>AccountsInfo.>Ledgers
    YoucancreateeitherSingleorMultipleLedgers.
    Debtor/CreditorClassification
    1.PlacingindividualpartyaccountsunderSalesorPurchaseAccountsgroups:
    Accountsofpartieswithwhom yourcompanyhastraderelationshipmustbe
    openedunderoneofthefollowinggroups(orsub-groupsunderthem)only:
    SundryDebtors

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  • SundryCreditors
    Branch/Divisions
    SalesandPurchaseaccountgroupsaremeantforrevenueaccountsandwould
    bereflectedintheProfit&LossAccount.Ifyouopenpartyaccountsunderthese
    groups,youwillfinditdifficulttopasssalesorpurchasevouchertransactions.
    Forexample,inasalesvouchertransactionentry,youmustdebitanaccount
    whichisasundrydebtor,branch/divisionorevenasundrycreditor(whya
    creditor?-itwillbeexplainedsoon).Moreover,otherfacilitieslikebill-wise
    allocationandtrackingwillnotbeavailableunlesstheaccountsbelongtooneof
    thesegroups.
    2.Openingtwoaccountsofthesameparty
    ForconvenienceTally.ERP9hasseparatelyclassifieddebtors,creditorsand
    branch/divisions.Thereisnooperationaldistinctionexceptforthepurposeof
    keepingtheaccountsofaparticulargrouptogetherduringdisplaysandanalysis.
    Youcanpassbothsalesandpurchaseentriesforapartyaccountplacedunder
    SundryDebtors.
    Werecommendthatyouusetheclassificationdependingonthemostnatural
    groupfortheparty.Forexample,partiesfrom whom youbuymorefrequently
    thenyouselltocanbeplacedunderSundryCreditors,asthatwouldbethe
    naturalplaceforyoutolookforhisaccount.
    Tally.ERP9doesnotrestricttheaccountsfromhavingobversebalances.Thus,a
    SundryDebtorcanhaveacreditbalancedependingonthestateofhisaccount.
    Note:Youneednotopentwoaccountsofthesameparty-oneunder
    SundryDebtorsandanotherunderSundryCreditors.
    Remember,Tally.ERP9restrictsyoufromopeningtwoidenticalledgeraccounts.
    Ofcourse,youmaydecidetocircumventbymarkingoneaccountasA&Co-
    S/DrandanotherA&Co-S/Cr.Doingthiswouldallowyoutohavetwoaccounts
    ofthesamepartyundertwogroups,butyouwouldlosetheadvantageof
    analyzinghisnetpositionatoneinstance.Werecommendthatyoumaintaina
    singleaccounttoobtainbestresults.
    3.PlacingexpenditureitemsunderaLiabilitiesgroup,e.g.,theexpenditureitem
    'Rates&Taxes'underthegroup'DutiesandTaxes'.
    ThegroupDutiesandTaxesisspecificallymeanttohandletaxationliabilitiesof
    yourcompany.Rates&Taxesandotherstatutoryexpensesshouldbeplaced
    underIndirectExpenses.
    Pre-definedLedgersinTally.ERP9
    Therearetwopre-definedledgersavailableinTally.ERP9,theyare:
    Cash ThisLedgeriscreatedundertheGroupCash-in-hand.Youcan
    entertheopeningbalanceasonthedateofbooksbeginningfrom.You
    canalsoalterthenameandevendeletetheLedger.
    ProfitandLossAccount This Ledgeris created underthe Group
    Primary.PreviousyearsProfitorLossisenteredastheopeningbalance
    forthisledger.Thebalanceenteredhereistreatedastheopening
    profit/lossandshownintheBalanceSheetasopeningbalanceofProfit

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  • andLossaccountintheLiabilitiesside.
    Youcannotdeletethisledger,butyoucanmodifythesame.
    CreatingaSingleLedger
    Bydefault,Tally.ERP 9containstwoLedgeraccountsnamely,Cash(Under
    Cash-in-Hand)andProfitandLossAccount(directPrimaryAccount).Youneed
    tocreateallotheraccountsheads.TherearenorestrictionsinLedgercreation
    exceptthatyoucannotcreateanotherProfit&LossA/c.AnynumberofCash
    Accountsmaybecreatedinanyothernameforex:PettyCash.
    GotoGatewayofTally>AccountsInfo>Ledgers>Create
    LedgerscanbecreatedinNormalmodeorinAdvancemode.
    CreatingLedgerinNormalMode
    ThecreationofaLedgerdependsonthefeaturesyouhaveselectedunderF11:
    FeaturesofyourcompanyandF12:Configure.Youcancreateasingleledger
    accountwiththedefaultoptionsenabled.
    GotoGatewayofTally>AccountsInfo>Ledgers>SingleLedger>Create

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  • Name: EntertheNameoftheaccount.Youcanprovidethefullnameof
    theaccount.Tally.ERP9fitsitallin.PressEntertomovetothenextfield.
    Tally.ERP9doesnotallowtheentryofduplicatenames.Theuniqueness
    checkismadehereitself.
    NOTEthatthepunctuationandothernon-relevantinformationareignoredby
    Tally.ERP9initsrecognitionofaname.Thus,CST,C.S.T.andC.S.T.areall
    consideredassame.
    Tally.ERP9convertsthefirstletterofallrelevantwordstouppercase,which
    helpsyou;speedupdataentry.
    Alias: Enteranaliasnameifrequired.YoucanaccesstheLedgers
    usingtheoriginalnameorthealiasname.
    Under: AllaccountsmustbeclassifiedundertheirappropriateGroups.
    SelecttheGroupunderwhichtheLedgeriscreatedfrom theListof

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