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2 UNIT I Introduction, Features Basic concept of computerized accounting and Inventory system Accounts organization & types of accounts, account statements Purchases & sales credit & debit transaction, invoice, voucher, order, cost & stock income & expenses Inventory control. 2

3 COMPUTERISED ACCOUNTING The transactions and events are recorded by means of computers. It provides for real time data entry High speed processing, Efficient data storage and Timely preparation of MIS Reports and Financial Statements. 3

4 Systems of accounting For example, where salary is due at the end of a month, it is recorded as an expense of that particular month, though cash is paid in the subsequent month. 4

5 Accounting Process 5

6 Classification of Accounts 6

7 Accounting Equation-Debits And Credits 7

8 Effects Of Debits And Credits On Assets: Debit increases and Credit decreases Asset A/c s balance. Asset accounts will usually have debit balance. On Liabilities and Capital: Debit decreases and Credit increases Liabilities A/c and Capital A/c s balance. Liability accounts and Capital account usually have credit balance. On Expenses: Debit increases and Credit decreases Expenses A/c s balance. Expense accounts will usually have debit balance. On Income: Debit decreases and Credit increases Income A/c s balance. Income account usually have credit balance. 8

9 TRIAL BALANCE Total Debits = Total Credits 9

10 Profit and Loss Accounts Revenue and Expenses 10

11 Balance sheet-assets = Liabilities 11

12 Company Creation 12

13 Gateway of Tally 13

14 Accounting Vouchers 14

15 Inventory Vouchers 15


17 Important questions Discuss the role of computers in accounting. Brief about the accounting softwares. What are the features of tally? Write short notes on Tally and inventory management. Tally security features What are the steps involved in creating a new company? 17

18 Unit II Masters, creation of Accounts Master Ledger, cost Group, Budgets Voucher & Inventory creation of Inventory Master Stock Item Group & Unit measurement. Creation of Masters Creation of Ledgers Creation of inventories 18


20 Types of Groups 20

21 Creation of Ledger 21

22 Creation of Units of Measurement Gateway of Tally- Inventory info Units of measurement - create 22

23 Creation of stock group 23

24 Creation of Primary group 24

25 Primary Groups of Capital and Revenue nature 25

26 Creation, Modifying, Displaying, Deleting a group 26

27 Creation of Sub-groups 27

28 Creation of Stock Item Gateway of Tally-Inventory Info-Single stock-create 28

29 Modification and Deletion of Stock Item 29

30 Important questions What is a group? Distinguish between primary and secondary group? Groups of revenue and capital nature. Discuss the procedure involved in the creation, alteration and deletion of ledger accounts in tally. 30

31 UNIT III VOUCHER Transactions, Accounts vouchers entry, receipt payment journal debit & credit notes sales, purchase option and post-date vouchers. Inventory voucher entry types delivery Chelan Goods Receipt Note, Sales & Purchase returns Invoice Stock Transfer Bill of Material Physical Stock Voucher. 31

32 voucher A voucher is documentary evidence in support of business transactions. the first and foremost process is recording transactions, we call it as Journal entry. Vouchers in Tally are classified into accounting voucher, inventory voucher, payroll voucher and non-accounting vouchers. 32

33 PRE-DEFINED VOUCHERS 8 Accounting Vouchers 2 Non-Accounting vouchers 6 Inventory vouchers 2 Non-Inventory vouchers 2 Payroll vouchers 33

34 Accounting Vouchers Voucher Name Keyboard Shortcut Purpose of Voucher Contra F4 Bank Transaction and Internal Cash Transactions Payment F5 Payments for Suppliers, Expences and Outstanding etc. By Cash or Cheque Receipt F6 Received cash or Cheque from Customers, Income and Outstanding etc. Journal F7 This is Adjustment Voucher for any kind posted entries and we can raise bills without any transactions. Sales F8 Sales of Current Asset and Fixed Assets Purchase F9 Purchase of Current Assets and Fixed Assets 34

35 Accounting Voucher - Contra 35

36 Accounting Voucher- Reversing Journal 36

37 Sales Voucher 37

38 Accounting Voucher - Purchase 38

39 Accounting Voucher - Receipt 39

40 Accounting Voucher - Payment 40

41 Accounting Voucher- Journal 41

42 Accounting Voucher Sales Return 42

43 Accounting Voucher Sales Return 43

44 Inventory voucher orderposition Voucher-Type-&-Voucher-Classes-l 44

45 DELETE A VOUCHER Gateway of Tally / Display / Statement of Accounts / Statistics / Change the period / (Ex to ) / Now we can see all vouchers types / select the type of voucher to delete / press enter again / press Alt+D / Yes or No / Press Y or press enter. 45

46 Important questions What is a Voucher? Explain the creation and alteration of new voucher types Explain the methods of numbering What is a credit note? What is journal voucher? 46

47 UNIT IV REPORT Accounting Report Trial Balance Profit & Loss account Balance -Sheet & Stock Statement Account Books Cash & Bank Books Ledger summaries Bills Receivable & Payable Statements. 47

48 TRIAL BALANCE Gateway of Tally Display ->Trial Balance Press (Alt+F1) Details Press Alt+F2 Current Period Accounting Year( 1 /4/2017 to 31/3/2018) 48

49 49

50 Profit and loss A/c Gateway of Tally Report- Profit and Loss A/c Press (Alt+F1) Details Press Alt+F2 Current Period Accounting Year (1/4/2016 to 31/3/2017) 50

51 Trading, Profit & Loss a/c 51

52 Profit & Loss A/C- Sample 52

53 Balance sheet Gateway of Tally >Report->Balance Sheet Press (Alt+F1) Details Press Alt+F2 Current Period Accounting Year (1/4/2016 to 31/3/2017) 53

54 Balance Sheet - Sample 54

55 Stock Entry To Active F11 Feature Integrate accounts and inventory No To Enter the Stock Value 55

56 Sales return and Purchase return Credit Note and Debit Note Used for Sales return and Purchase return entry in tally Voucher To active Credit and Debit Note (Setup) To active (Fll Feature Key Press) Use Debite Note and Credit Note Yes 56

57 Closing stock Closing Stock Enter in Profit & Loss A/c Active (F11) Features Integrate Accounts & Inventory No Enter Stock Value 57

58 Bill of Material and Manufacturing Journal Create a Company ABC Company -> Accounts with Inventory (Financial Year: to ). Gateway of Tally -> F12 -> Accounts Inv Info -> Allow component list details (Bill of Materials) and allow standard rate to Yes. Create a new voucher type called Manufacturing Journal under stock journal. Gateway of Tally -> Accounts Information -> Voucher Type -> Create -> Name: Manfacturing Journal -> Type of Voucher: Stock Journal -> Use as a Manufacturing Journal? -> Yes Remaining as Default 58

59 Stock summary report /Reports/Registers-Ledgers/Display-Cash-Book Gateway of Tally->Stock Summary->Enter Gateway of Tally > Display > Account Books > Cash/Bank Book(s) 59

60 Bills Receivable and Bills Payable Stock-Re-Order-Level Receivables and payables 60

61 Important questions Explain auto column, range in balance sheet Detail option in the balance sheet Groups under asset and liability side of balance sheet. Explain about cash and bank books. Explain the format of trial balance and stock statement in tally 61

62 UNIT V REPORTS Inventory Report - Stock Summary Sales Order Summary Purchase Order Summary Printing Tally full tutorial Reports 62

63 PRINTING CONFIGURATION Step 1: Tally Create Company To active FI 1 Configuration Enabling Cheque Printing 1. Go to Gateway of Tally > FI 1: Features > Accounting Features 2. Set Enable Cheque Printing and Set/Alter Cheque Printing Configuration to Yes. 63

64 CHEQUE PRINTING Gateway of Tally -> Accounting Vouchers -> F5 payment vouchers After entering payment voucher (Say Vinayakan A/c Dr, Bank of India A/c Cr) Enter the Name on Cheque -> Cross Cheque using? (A/c Payee) After accepting the voucher, Tally immediately prompts you to print the cheque. Click on the button Print Preview accept it If the printer is on we can get the printed cheque. 64

65 Accounting Voucher- Cheque printing 65

66 Stock Summary 66

67 Stock Summary Gross Profit - Printing 67

68 Printing Purchase order summary- Alt P 68

69 Sales order summary 69

70 Order Summary - Printing 70

71 Continued 71

72 Inventory Report Purchase Order 72

73 Inventory Report Sales order 73

74 Inventory Report Delivery Note 74

75 Inventory Report- stock summary 75

76 Report printing Receipts and payments purchase order summary 76

77 Important questions How many inventory vouchers are there in tally? What is stock journal, purchase order, rejection out, receipt note? What are the different non-inventory vouchers? What are the buying and selling activities? 77