Tally Essential Level 1

Tally Essential Level 1

Chapter 1: Fundamentals Of Accounting 

 Introduction  

Meaning of Accounting

Terminologies Used In Accounting

Concepts of Accounting

Double Entry System Accounting

Uses of Debit and Credit

Rules of Debit and Credit

Golden Rules of Accounting

Recording Of Business Transaction

Journalising Transaction

Trial Balance

Financial Statements

Trading Account

Profit or Loss Account

Balance Sheet

Subsidiary Books & Control Accounts

Cash Book

Petty Cash Book

Purchase (Journal) Book

Purchase Return (Journal) Book

Sale Journal Book

Sale Return (Journal) Book

Journal Proper

Control Account

Depreciation

Methods for Depreciation

Preparation of Depreciation Schedule

Computerised Accounting

Advantages of Computerised Accounting

Accounting Structure for Computerised Accounting

Conclusion

Key Takeaways

Chapter 2: Introduction to Tally   

Introduction

Features of Tally Prime

Downloading and Installation of Tally Prime

Types of License in Tally Prime

Activate New License

Reactivate License in Tally Prime

Use License from Network in a Multiuser Environment

Working Tally Prime in Educational Mode

Company Creation and Setting up Company Features in Tally Prime

Getting Started With Tally Prime

Navigating From Any Where to Any Where In Tally Prime

F12 Configuration in Tally Prime

Alter Company Details

Shut the Company

Conclusion

Key Takeaways

Chapter 3: Maintaining Chart Of Accounts

Introduction

Chart of Accounts

Creation of Masters in Tally Prime

Accounting Masters

Inventory Masters

Alteration of Masters in Tally Prime

Deletion of Masters in Tally Prime

Multi-Masters Creation and Display of Chart Of Accounts

Multi Groups Creation

Multi Ledgers Creation

Multi Stock Groups Creation

Multi Stock Items Creation

Conclusion

Key Takeaways

Shortcut Keys

Chapter 4: Recording and Maintaining Accounting Transaction

Introduction

Recording Transactions in Tally 

Recording Accounting Vouchers in Tally Prime

Receipt Voucher (F6)

Contra Voucher (F4)

Payment Voucher (F5)

Purchase Voucher (F9)

Sales Voucher (F8)

Debit Note Voucher (Alt +F5)

Credit Note Voucher (Alt +F6)

Journal Voucher (F7)

Conclusion

Key Takeaways

Shortcut Keys

Chapter 5: Banking

Introduction

Banking Payments

Cheque Printing

Single Cheque Printing

Multi Cheque Printing

Deposit Slip

Cheque Deposit Slip

Cash Deposit Slip

Payment Advice

Bank Reconciliation

Manual Bank Reconciliation

Auto Bank Reconciliation

Conclusion

Key Takeaways

Shortcut Keys

Chapter  6: Generating Financial Statements And Mis Reports

Introduction

Final Accounts Reports In Tally

Trial Balance

Profit And Loss Account

Balance Sheet

Cash Flow & Fund Flow Analysis Report

Receipts and Payments

Mis Reports in Tally

Stock Summary Analysis

Day Book

Cash and Bank Book

Purchase Register

Sales Register

Journal Register

Bird’s Eye View/Drill down Display from Anywhere to Anywhere

Conclusion

Key Takeaways

Shortcut Keys

Chapter 7: Data Security

Introduction

Security Control

Activation of Security Control 

Creation of Security Levels (User Roles)

Creation of Users and Passwords for Company

Accessing the Company Using Security Levels

Auto Login

Tally Vault

Conclusion

Key Takeaways

Shortcut Keys

Chapter 8: Company Data Management

Introduction

Backup of Company Data

Restoring Of Company Data

Company Data Repair

Migration of Tally .Erp 9 Company Data To Tally Prime

Conclusion

Key Takeaways

Shortcut Keys

Chapter 9: Goods and Services Tax

Introduction

Why GST?

GST Tax Structure

Determination of Tax

GST Registration

Managing HSN CODE / SAC

GST Rate Structure

Supply of Goods and Services

Invoicing

Input Tax Credit

E Way Bill

GST in Tally Prime

Company and Activating GST at Company Level

Introducing Capital into the Business

Creation of Masters in Tally Prime

Recording GST Compliant Transactions

Accounting Intra State Supply of Goods

Accounting Inter State Supply of Goods

Input Tax Credit Set Off Against Liability

GST Tax Payment

Timeline for Payment of GST

Modes of Payment

Challan Reconciliation

Generating GST Returns for Regular Dealer in Tally

GSTR -1

GSTR -3B

GSTR -9 –GST Annual Computation

Conclusion

Key Takeaways

Shortcut Keys