SUBMITTED

IN FULFILMENT OF THE REQUIREMENTS FOR

100 Hours Information Technology

Training

THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA

Project Report

PROJECPROJECTT

NAMENAME :: Ashish Ashish MathurMathurROLL NOROLL NO.. :: 3232BATCHBATCH :: 33TIMINGSTIMINGS :: 03.00Pm - 03.00Pm - 07.00Pm07.00Pm

CONTENTSIntroduction of TallyPrinciples of AccountingVersion of TallyCreation Of CompanySelection Of CompanyVoucher entry'sConfiguration features(F11 AND F12)Books of Accounts----ReportsOther ReportsHow to Import Data?

INTRODUCTION

accounting transactions. Its GUI, provided by Windows.

Tally is a complete Accounting Packageused for entering

PRINCIPLES OF PRINCIPLES OF ACCOUNTINGACCOUNTING

It’s the art of systematic It’s the art of systematic recordingrecording, , classifyingclassifying, , summarizing summarizing in a significant manner and in a significant manner and in terms in terms of moneyof money, transactions, and events which are, in , transactions, and events which are, in part at least, of financial character, and part at least, of financial character, and interpreting the results thereof.interpreting the results thereof.

Only financial aspects are considered, which Only financial aspects are considered, which brings some change in financial position of a brings some change in financial position of a business.business.

VERSIONS OF VERSIONS OF TALLYTALLY4.5 : DOS based, Accounts only.4.5 : DOS based, Accounts only.5.4 : Window based accounts with inventory.5.4 : Window based accounts with inventory.6.3 : 5.4 with online finalization, auditing 6.3 : 5.4 with online finalization, auditing and and

import and export feature.import and export feature.7.2 : 6.3 with VAT, TDS and service tax.7.2 : 6.3 with VAT, TDS and service tax.8.1 : 7.2 with FBT and excise duty.8.1 : 7.2 with FBT and excise duty.9.0 : 8.1 with Excise for Dealers, Payroll, 9.0 : 8.1 with Excise for Dealers, Payroll, FBT, FBT,

TDS, e-TDS filing facilityTDS, e-TDS filing facility multi language multi language and extra formatting feature.and extra formatting feature.

Steps to start Steps to start TALLYTALLY

Create CompanyCreate Company

Master Creation : ledgers and Master Creation : ledgers and vouchers creation.vouchers creation.

TransactionTransaction : entry of voucher. : entry of voucher.

Reports : auto created by tally.Reports : auto created by tally.

Import : data import from excel Import : data import from excel to tally.to tally.

Creating a New Creating a New CompanyCompany

• Company Information Menu

• The right half of the Gateway of Tally area displays the company info. Menu

• This menu has following five options:

Select Company Create Company Back up Restore Quit

Fields• Name• Mailing name,

address• Email address• Income tax

number, sales tax number local/interstate)

• Currency symbol• Maintain

( accounts only/inventory only/both)

• Financial year • Books beginning

from• Tally vault

password• Security control• Base currency

information• Accept/reject

Alteration : A created company’s detail can be modified at a later time through keys Alt+[F3] or choosing the Alter option from gateway of tally. A company has been successfully created with the above information

Selection Of Period

The period in which user Wants to work

Setting up account heads

• You have to setup an accounting chart for the company.Creating Master Accounts, you can create master for both accounts and inventory by providing information regarding both accounts and inventory. We will start from creating account masters.

• Account Information In order to work on the master of accounts of a company, first activate the desired company then Gateway of Tally menu appear on the screen.

Select Accounts Info Select Accounts Info from the Menufrom the Menu

GROUPS

During manual accounting the accounts (ledger) are grouped upon preparation of Trial Balance to prepare Profit & Loss account and Balance Sheet which reflect the final accounts of the company. In tally the concept remains analogous. Following screen will appears when you select Group option.

Single Group option is useful when you wish to work on one group at a time. Multiple saves time and labour and is useful to work on sub-groups.

LEDGER PREPARATION

TALLY VOUCHERS Recording and analyzing

are easy for different types of transactions.

Tally by default provides 16 types of predefined vouchers are unable to fulfill requirements then Tally also gives you a provision to alter these existing types according to you need.

They pertain to both accounting and inventory.

Some vouchers can be used differently according to the situation.

Different vouchers are created for data entry purpose.

It can be customize as per the requirement.

Tally’s Voucher Types

CREATE VOUCHER

Accounting Vouchers in tally is the most visited area Accounting Vouchers in tally is the most visited area by the user and is key to all business information.by the user and is key to all business information.

A voucher A voucher ((also called a journalalso called a journal) ) is a document is a document containing the details of transaction. containing the details of transaction.

For every transaction, you enter a voucher in Tally. For every transaction, you enter a voucher in Tally.

The option at the Gateway of Tally Accounting The option at the Gateway of Tally Accounting Vouchers enables you to make your day-to-day Vouchers enables you to make your day-to-day entries.entries.

On the left hand side of the screen a menu will On the left hand side of the screen a menu will display, from which you can change type of voucher.display, from which you can change type of voucher.

Cr the giverVat value

Purchase Voucher

Change of voucher date

Click F2 to change voucher date.

Payment Voucher

•Press F11 and select yes for the required options

By using key F12 i.e. configuration By using key F12 i.e. configuration setting one can customize the voucher setting one can customize the voucher

entryentry

Tally - Books of Accounts Tally - Books of Accounts ReportsReports

1. Trading and Profit & loss statement

2. Balance sheet3. Cash flow statement4. Ratio analysis5. Funds flow statement

1. Trading and Profit and loss account

22. . Balance sheetBalance sheet

3. Cash Flow Statement

44. . Ratio analysisRatio analysis

55. . Funds flow Funds flow StatementStatement

Other Reports# Sales Register# Purchase Register# Day Book

SALES REGISTERSALES REGISTER

PURCHASE REGISTER

Day Book

Import of data from one company to another created within tally happens

seamlessly.

IMPORTING DATA

THANKING YOU