Understand the concept of Tally

The first page of Tally which is divided into two parts left side you will get the detail of your Current working period, current month detail, Name of your loaded Company, and Date of your last entry.

Another side you will get "Gateway of Tally" which is divided into Four parts such as,

Masters
Transactions
 Utilities
 Reports


These four further divided into some parts,


1 Masters

·      Accounting info

·      Inventory info

2 Transactions

·      Accounting Vouchers

·      Inventory Vouchers

3 Utilities

·      Import data

·      Banking

4 Reports

·      Balance Sheet

·      Profit and Loss

·      Stock Summary

·      Ration Analysis

·      Display

Let’s understand each

Ø In Masers we do the Creation part,

"Accounting info" is use for the creation of ledgers like, Party ledger GST ledger, Income or Expense ledger, Bank ledger at all.


"Inventory info" is use for the Creation of Inventory like Stock, Units of measure at all.

Ø In Transactions we pass the entries

"Accounting Vouchers" we use it for the passing of Accounting entries like Sales, Purchase, Payment, Receipt, contra, Journals, Debit note, Credit note at ll.


"Inventory Vouchers" we use it for the passing of passing Inventories entries which is related to stock like, Stock transfer, Manufacturing, Production and Consumption, Delivery note, Receipt note, Stock journal, Material in or out, Rejection in or out etc.

Ø In Utility option we get two option

"Imports Data" it is use of import the data like Master and Transaction from one company to another, synchronization etc.


"Banking" there are many features which use for banking functions like Cheque printing, Cheque register, Bank reconciliation, Deposit slip, Payment advice etc.

Ø Reports

is the output of your input, in tally we get many reports related to accounting, inventory, and taxation


Examples:

Balance sheet, Profit and Loss, Stock Summary, Trail Balance, Day Book, Account Book, Inventory Book, Statement of Account, Statement of Inventory, Statutory and taxation reports etc.

                

·      After Loading the Company in Right hand side at the top you will get the option for Shut Company, select Company, act.

·      If you want to make any alteration in Company’s detail,

“Company info > alter > select Company > make changes > Accept”.