Practice Exercise in Tally.ERP9

Practice Exercise in Tally.ERP9

Notice that Indus Enterprises is highlighted This indicates that it is the currently selected company from the list of open companies.


You can now practice selecting, closing and altering company information. Practice Exercise

(N.B-while working with Tally.ERP 9 you can press Esc to exit from any screen before the changes you have made take effect)

Practice Exercise

1. Select a Company 
2. Shut a Company 
3. Alter a Company                                                                                                                                                                                                                                                                                                                                                                                                                                 

To Select a Company 

1. Go to the Gateway of Tally>Alt + F3 > Company Info. > Select Company OR Press F1 Tally ERP 9 displays the List of Companies screen. All the companies created are displayed in an alphabetical order. Select the company name from the list given. Practice Exercise

2. In case two or more companies are loaded (like National Traders and Indus Enterprises), click on the company which you need to work on so that the selected company will be highlighted and will appear on top of the list. 

To Shut a Company 
Go to the Gateway of Tally>Alt+ F3> Company Info. > Shut Company. Select the Company which you need to shut from the List of Companies. You can also use Alt F1 to shut Company from the Gateway of Tally screen. Practice Exercise

To Alter Company 
Details Go to the Gateway of Tally > Alt+ F3 Company Info. > Alter. Select the company which you need to alter from the List of Companies and press Enter to view the Company Alteration screen. Alter the company details as required and accept the screen. Practice Exercise

Working with Multiple Companies in Tally erp9

Working with Multiple Companies in Tally erp9

2.3.3 Working with Multiple Companies 

For a group of companies, you can maintain the details of each company separately. You can select the company to work with and close the company when it is not required. However, you can also open many companies at the same time and switch between companies without closing the application. Working with Multiple Companies 

2.3.4 Exercise to Create another Company 

Before looking at how to view and amend company details, let us create another company to experiment with. Name your company as Indus Enterprises, Financial Year as 1 April 2009 & Book beginning from 1 April 2009 and you may enter the company details as you like, Working with Multiple Companies  

To create Indus Enterprises follow this procedure:

1. From the buttons bar select Alt+ F3: Create Cmp or simply press Alt + F3 to bring up the Company Info. Menu .
2. Select Create Company from the menu to bring up the Company Creation screen .
3. Enter Indus Enterprises in the Name field and experiment with entering other data of your choice (for example, the address details) 
4. When you have finished, Press Y or Enter to accept the scree

Base Currency Information in Tally ERP 9

2.3.2 Base Currency Information 


Tally.ERP 9 need to know the default currency for the company and how amounts should be shown on the screen and in the reports.

Base currency information 

Fields                                                                               Description      

Base currency symbol  Pre-set as a default currency -Rs. (as specified earlier) 

Formal name
Complete name for the currency symbol By default, this is set to Indian Rupees. 

Number of decimal places

By default, this is set to 2. 

Is symbol suffixed to amounts?
By default, this is set to No For example in India, we place the Rs symbol in front of amounts. 

Symbol for Decimal portion
Enter the decimal portion for the currency mentioned Enter Paise.

Show amounts?
Tally ERP 9 caters to currencies where the different parts of large amounts are called by special names By default, this s set to No.

Put a space between amounts and symbol?
By defoult, this is set to Yes. 


Decimal Places for Printing Amounts in words
You can specify the number of decimal places to print the amount in words. This number should be equal to or lesser than the number specified in Number of Decimal places field   



Let us create a company in Tally.ERP 9 taking the example of National Traders who purchases customers. Create a Computer equipment, components and software and sells it to other companies and to the direct customers. Create a Company as per information provided below:


Go to the Gateway of tally >Company Info>Create Company
Enter the following information to create a company:

• Press Y or Enter to accept the screen.                                           

The Gateway of Tally screen will appear as shown below:

Wichh Menu Appears After Starting Tally For The Fast Time in Tally ERP 9

2.3 Creation/ Setting up of in Tally.ERP 9

Wichh Menu Appears After Starting Tally For The Fast Time The fast step towards understanding Tally.ERP 9 is to create a company in Tally.ERP 9 Create a company using the Company Creation screen. Starting Tally For The Fast Time 

2.3.1 Creation of a Company 

Go to Gateway of Tally. >Creation Company 

The Company Creation screen displays as shown.

Each field in the Company Creation screen is explained below. To navigate between the fields, use the enter key or the tab key or arrow keys or the mouse. Wichh Menu Appears After Starting Tally For The Fast Time

  

Field                                                     Description                            

Directory

Tally.ERP 9 assumes that the company is to be created in the data path given in the Tally.INI file, which displayed by default. This field is skipped by default. This field is skipped by default. However, you can change this path, if you want by using the backspace key, so that Tally.ERP 9 saves the data to a directory specified by you.

Name

This specifies the name of company as it appears in Tally.ERP 9. If you have several companies to create with similar names, you will have to distinguish between them to provide a unique name for Tally.ERP 9 . Starting Tally For The Fast  

  
Mailing NameThe company name given in the Name fled automatically appears in this field. This can be changed according to your requirements The correct name of the company for mailing purposes should be entered.

Address

The address of the company (The mailing name and address details are picked from tere for any report such as balance sheet and statement of accounts). 

Statutory Compliance for
Select India from the list of countries. Starting Tally For The Fast 

State
Select the appropriate State from the list of States. 

Pin Code
Enter the PIN code of the specified address. 

Telephone No.
Enter the telephone number of the company. 

E-Mail
E-mail address will be used to e-mail documents, reports and data from Tally ERP 9.

Mobil No
Enter the mobile number of the company. Starting Tally For The Fast. 

Currency Symbol
This refers to the currency symbol Tally ERP 9 will use for monetary values By default, Tally.ERP g displays Rs. 

Maintain 
Select the nature of the company i.e, Accounts only or Accounts with Inventory. 

Financial Year From
Specify the Financial Year (FY) for the company. Tally .ERP considers 12 months from the date you give here as the Financial Year. For example, if you give 1st April 2009, your FY will be April March-in this case, ending with 31st March 2010. 

Books Beginning From

The date given for Financial Year From is automatically displayed. However, we can specify the actual date on which the books accounts start. In case our accounts are opened mid-way during the financial year specified, we can enter the required date and start the books of accounts accordingly. Starting Tally For The Fast 

TallyVault Password

TallyVault is an enhanced security feature ulil company data in an encrypted form by means of a Password. The TailyVault password entered ensures that the data is maintained permanently in an encrypted form without retaining information of the password used. Data is not accessible without the TallyVault password. Remember to keep this password private and known only to those who need to know. If the passworc is lost, ycur data cannot be recovered 

Use Security Control

Tally ERP 9 has a range of security controls , which can define the authority of various users to access the information and to enterl alter/celete the vouchers. Starting Tally For The Fast Time 

Tally.ERP 9 Screen Components

2.2.2 Tally.ERP 9 Screen Components 

   

• Title bar: Displays the Tally.ERP 9 version number.

• Horizontal button bar: Selection of Language key, Keyboard Language and Tally.ERP 9 help.

• Close button bar: Performs the Windows Operating Systems function (Windows 95 onward) allowing you to minimize Tally.ERP 9 and work on other applications. To restore Tally.ERP 9  click the Tally.ERP 9 icon on the taskbar. 

• Gateway of Tally : Displays menus, screens reports and choices and options which you select to view data as required. 

• Buttons toolbar: Displays buttons which provide quick interaction with Tally.ERP 9 . Only buttons relevant to the current task are visible.

• Calculator Area: Used for Calculator functions. 

• Info Panel: Displays Version number, License details, Configuration details.     

2.2.3 Mouse/Keyboard Conventions

While working with Tally.ERP 9 , use the following conventions.
                                   

Action	Particulars
Click	Press the left mouse button
Double-click	Press and release the left mouse button twice without moving moving then mouse
	pointer off the item.
Choose	Position the mouse pointer on the item and click the left mouse button.
Select	Position the mouse pointer on the item and double click the left mouse button.
Press	Use the keys on the keyboard in the combination shown.
Fn	Press the function key.
Fn	Press ALT + function key.
Fn	Press CTRL + function key.

   

2.2.4 Switching betwen Screen Areas   

When Tally.ERP 9 first loads the Gateway of Tally screen displays. To toggle between this screen and the Calculator/ODBC server area at the bottom of the screen, press Ctrl+N or Ctrl+M as indicated on the screen. A green bar highlights the active area of the screen. 

2.2.5 Quitting Tally.ERP 9

You can exit the program from any Tall.ERP 9 screen, but Tally. ERP 9 requires all screens to be closed before it shuts down.

To quit working on Tally.ERP 9,

• Press Esc until you see the message Quit? Yes or No ? Press Enter or Y, or click Yes to quit Tally.ERP 9.
• Alternatively, to exit without confirmation, press Ctrl+Q from Gateway of Tally.
• You can also press Enter while the option Quit is selected from Gateway of Tally.

Types of Payroll Attendance Disable in Tally ERP 9

2.1.4 Payroll

Taly ERP 9 Payroll is integrated with Accounting and benefits the user by simplifying Payroll processing and accounting,. Tally ERP 9 Payroll enables users to set up and implement salary structures, ranging from simple to complex, as per the organisation's requirements. The user can also align and automate payroll processes directly integrate them with main stream account ing applications. Tally ERP 9 Payroll also supports configurable formats for payslip printing flexible salary/wage, attendance , leave and overtime registers: gratuity and expat reports. Types of Payroll 

2.1.5 Data Migration Capability 

Tally ERP 9 has the ideal solution for those who have their data in Tally 72 and now want to use Tally.ERP 9. Tally ERP 9 provides a migration tool which helps the sour to migrate the data essay version and continue with day-to-day transactions. Tally 6.3 users can also use the tool which will rewrite the version to Tally 7.2 and then migrate the data to Tally.ERP 9 Tailly 8.1 users and Tally 9 Release 2.14 users can rewrite the version of their data to Tally ERP9 he latest. Types of Payroll

2.1.6 Features pertaining to Duties and Taxes 

• The all-new package provides statutory reporting capability for VAT (Value Added Tax) Composite VAT, CST (Central Sales Tax). TDS (Tax Deducted at Source), ST (Service tax), TCS (Tax Collected at Source), FBT (Fringe Benefit Tax) 

• State-specific statutory VAT returns and Annexes 
• Various CST related reports 
• Returns and charlatans for Service Tax 
• TCS enabled with e-TCS capability, with facility for printing certificates Callahan 
• Composition Monthly VAT Return 
• Quarterly Return Form II, in the case of Excise Dealer 
• Periodic FBT Callahan and Returns. Types of Payroll 

2.2 Getting Functional with Tally.ERP 9 
2.2.1 Tally.ERP 9 Start-up 
Tally ERP 9 can be started in any of the following ways : 

• Click on Start > Programs> Tally.ERP 9> Taily.ERP 9 or double click on the Tally.ERP 9 icon on your desktop 

The welcome screen Tally.ERP 9 Power of Simplicity appears while the software loads. You will be ready to explore Tally ERP 9, the moment the Tally ERP 9 start up screen appears. Types of Payroll

The Tally.ERP 9 Start-up Screen appears as shown below:

Technology Advantages-02

  
TallyVault 

Tally ERP 9 offers a data encryption option called Tally Vault. Without the valid Tally Vault password, the date cannot be accessed. Tally.ERP 9 follows the DES (Data Encryption Standard) encryption method to safeguard the data. 

Removal of data into a separate company 

Tally ERP 9 allows users to maintain a com- pant for any number of financial years. Once the books of accounts have been competed for hie snarling financial years, the under can split the company data into multiple companies as per financial periods required. Tally ERP 9 also hes a feature to split company data. The user can specify the date from which the company has to be split and Tally ERP 9 will split the company to form two companies as per periods specified rice the data has been split, the closing balance of the first period (first company) becomes the opening balance for the next period (second company) 

Multi-directory for company management. 

The user can create multiple directories to store data. The data stored in here directories can be accessed directly in Tally ERP 9, by specifying the path a n 

Import/ Export of data: 

Any transaction can be exported and imported to other software after suitably altering the current structures to accept the Tally ERP 9 data structure. Data can also be imported to Tally ERP 9 by writing a TDL program. The data which is to be exported from Tally ERP 9 can be in XML, HTML or ASCIl format 

Tally ERP 9 Synchronization:

Synchronization is the process of exchanging Tally ERP 9 data between two or more locations. This process enables a branch office to send its data o the head office, over the Internet or a private network 

Graphical analysis of data: 

Tally ERP 9 provides graphical analysis of data which helps the user o perform deeper analysis. The user can generate graphical analysis reports such as Sales register, Purchase register, Ledgers, Funds flow, Cash flow, Stock Item registers and so on This helps the management to quickly judge performance and be better pre- pared for difficult tines 

ODBC (Open Database Connectivity) compliance: 

It allows other programs to use data from Tally ERP 9, directly. Thus, any program such as MS-Excel Oracle, which is ODBC compliant, can use data from Tally ERP 9. Data connectivity is dynamic, which mares that s reflected in real time in other y update it user can also extract data from Tally ERP 9 and design his/ her own report formats in other ODBC compliant software 

Protocol support:

Tally ERP 9 provides protocol support for HTTP. HTTPS, FTP, SMTP ODBC and raw sockets with data interchange formats such as XML, HTML with XML islands, SOAP and related fonats. Protocol refers to a mechanism by which information (data) can be put into or taken from Tally ERP 9. Formats refer to the standard for informa- tion to be generated from Tally ERP 9 or from other applicatiors which can exchange data with Tally ERP 9 

Direct web browser access: 

While working on Tally ERP 9, the user can directly log on to the Tally website, provided he/ she has access to the Internet The website lists details of all the facilities offered by Tally.ERP 9. The user can also download the latest release of Tally ERP 9 as and when t is available. The Tally website also offers Tally Chat by which a user can communicate with a Tally representative and get required information. 

Ability to preview and publish reports and documents on the Internet. 
Companies which want to punish reports and price lists on their website can do so directly from Tally ERP 9. 

E-mail Facility.

Tally ERP 9 facilitates the malign of any Tally ERP 9 report or document. 

Multilingual capability 
Tally is the words first accounting and inventory software with multilingual capability. Currently, Tally ERP 9s multilingual capability extends to 12 languages which include nine Indian languages (Hind, Gujarat, Punjabi, Tamil, Telugu, Mar ath Kannada, Malayalam and Bengali). Bahasa Melange and Bahasa Indonesia Tally ERP 9 enables you to enter data in one language and have it transliterated into different languages You can generate invoices, purchase orders or delivery notes in the language of the phonetic keyboard allows you to spell the term phonetically based on how it sounds and Tally ERP 9 displays the data in the language your choice after entering data for the same in any of the nine specified languages.  Also selected after transliteration 

Point of Sale (POS): 

POS is an acronym for Point of sale Point of Sale can be a real out- other location where a sales transaction takes let, a check out counter ina shop, or any place. It is a computerized cash register which adds up the sales totals, calculates the balance to be returned to buyer and automatically adjusts the inventory level to reflect the quantity sold. The equipment required for PGS to work effectively are cash registers, card readers, bar-code scanners and so on. 

Technology Advantages-01

2.1.3 Technology Advantages

Simple and rapid installation:

Tally. ERP 9 has a simple, menu- driven installation procedure The user can install tho program files on any drive if the hard disk has partition % user can also specify the name and directory location of the program firs Tally ERP. 9 Ifs a few seconds

Unlimited multi-user support

A mult-user version of Tally ERP 9 can be instated on a network, having any number of computers with different operating such as Win a 95, 98, NT 2000, XP and Linux.

Internal backup/restore:

Tally ERP 9 has an in-built user friendly backup and restore option. It helps the to take a backup of one or more companies or all companies es single directory, in the local hard disk, or in any external media.

Data reliability: 

Tally ERP 9 offers reliable data. It uses a flexi-field, flexi-length, self indexed, weighted file structure for an extremely compact and fast database. Tally ERP 9 is robust and even if there is a power failure or the computer is incorrectly shut down, data s not lost. Tally ERP 9 uses signalling quality data integrity checks, at regular levels. ensure the complete to ensure the complete reliability of data. 

User-defined security levels: 

Tally ERP 9 offers high levels of security, Users can multiple levels of security according to their requirements. Every authorized user n company can user with the administrator level password will have full access and can set other individual password, will rights to use specific features only .The use with the administrator level password will have full access and can set controls for other users. 

Data security: 

Tally.ERP 9  data integrity checks ensure that there are no external changes to the data. Tally ERP 9 also uses a binary encoding format of storage to prevent devious grouping of information 

Tally audit: 

The Tally ERP 9 audit feature provides the user with administrator righ and the capability to check the entries made by the authorized users and alter these necessary Once the entries are audited, Tally ERP 9 displays the altered entries along with the narr of the ushr, who has altered the entry, and the date and time of the alteration

Functional Features of Tally.

Functional Features of Tally. ERP 9 

ADVANCED ACCOUNTING	ADVANCED INVENTORY
Multiple companies	Stock items classified as raw materials, work in process, finished goods
Multi-currency	Bill Material with auto-adjustment of stocks
Multiple financial years	job-rowing concepts, including sub-con-tracting
Comparison of data using multi-columnar reporting	Additional cost of manufacturing with notional valua and percentage
Memo vouchers	Cenvat support
Post-dated vouchers	Reorder levels
Userdefined voucher types	Stock ageing analysis
Sales and purchase extracts	Batch related stock reports
Cash flow statement	point of Sale (POS)
Daily balances and transaction values/interest calculations	Excise/VAT/Central Sales Tax (CST) TAX collected at Source (TCS) related Inventory transactions and report
Percentage-based reporting  Ration analysis Value Added Taxn(VAT) Service Tax (ST) Fringe Benefit Tax (TCS) Tax deducted at Source(TCS) Excise (Trading & Manufacturing ) Payroll

Functional Features of Tally .ERP 9

2.1.2 Functional Features of Tally .ERP 9   

BASIC ACCOUNTING	BASIC INVENTORY
Complete book keeping Books	Stock Categories
Books, registers and statements of accounts	Stock query by stock group or stock category.
General ledgers	Multiple go downs
Accounts receivable and accounts payable	Stock transfers to go-downs and branches
Flexible voucher numbering	Multiple stock valuation methods
Flexible classification of account heads	Batch-wise/Lot-wise, including expiry date handling
Panoramic view	Alternate units of measure and tail units.
Drill-down display	Tracking thorough receipt notes/ delivery notes/reactions inwards/rejections out wards
Database reporting	Additional costs incurred on purchase
Voucher and cheque printing	Movement/ Profitability analysis Party wise/Item-wise/Stock Group wise
Columnar reports	Customisable sales invoices using price lists with multiple prices
Bank reconciliation	Sales and purchase order processes

Fundamentals of Tally.ERP 9

Lesson 2: Fundamentals of Tally.ERP 9 

Lesson Objectives

 On completion of this lesson, you will be able to understand  

• Salient Features of Tally ERP 9 
• Key Components of Tally ERP 9
• How to start and exit Tally ERP 9 
• Setting up a company in Tall ERP 9
• Working with.companies in Taly ERP9.

2.1 Introduction 

Tally ERP 9 is the worlds fastest and most powerful concurrent Multilingual business Accounting and Inventory Management software. Tally ERP 9, designed excursively to meet the needs of small and medium businesses, is a fully integrated, affordable and highly reliable software Tally. ERP 9 is easy to buy, quick to install, and easy to learn and use. Tally ERP 9 is designed to automate and integrate all your business operations, such as sales, finance, purchasing, inventory, and manufacturing. With Tally ERP 9, accurate, up-todate business information is literally at your fingertips anywhere. The powerful new features and blazing speed and power of Tally ERP 9 combined with enhanced MIS, Multi-lingual, Data Synchronization and Remote capacities help you simplify all your business processes easily and cost-effectively. 


2.1.1 Salient Features of Tally. ERP 9 

• A leading accounting package: The first version of Tally was released in 1988 and through continuous development, is now recognized as one of the leading accounting packages across the world, with over a quarter million customers. Tally's market share is more than 90 % . 

• No accounting codes: Unlike other computerized accounting packages which require numeric codes, Tally ERP 9 pioneered the 'no accounting codes concept. Tally ERP 9 users have the freedom to allocate meaningful names in plain English to their data items the system.

Complete business solution:

Tally ERP 9 provides a comprehensive solution to the accounting and inventory needs of a business. The package comprises financial accounting, book-keeping and inventory accounting. It also has various tools to extract, interpret and present data. 

Iecratedl Non-integrated accounting and inventory:

With Tally ERP 9, the user is to choose between accounting and accounting with inventory. If accounting with inventory is opted for, the user can choose wetter it should be integrated or not. 

Flexible and easy to use:

Tally ERP 9 is very flexible. It mimics the human thought process, which means that Tally ERP 9 can adapt to any business need. Tally ERP 9 users need not change the way their business is run to adapt to the package.

Speed

Tally. ERP 9 provides the capability to generate instant and accurate reports which assists the management to take timely and correct decisions for the overall productivity and growth of the company.   

Power:

Tally ERP 9 allows the use to maintain multiple companies and with unlimited levels of classification & grouping capabilities. It also allows drill down-facility  from report which level to transaction level.  

Flexibility

Tally.ERP 9 provides  flexibility to generate instant reports for any given period (month/year) or at any point of time besides providing the facility to toggle between accounting & inventory reports of the same company or between companies.    

Concurrent multi-lingual capability 

Tally. ERP 9 offers you the exclusive capability of maintaining your accounts in any Indian language, viewing them in another language and printing them in yet another Indian language. 

Real time processing 

Immediate posting & updation  of books of accounts as soon as the transactions are entered, thereby facilitating instant statements & Reports. It also facilitates real time multi user environment. 

Versatility 

Tally. ERP 9 is suitable for a range of organisations, from small grocery stores to large corporations with international locations. 

Multi-platform availability 

Tally.ERP 9 is available on Windows 95, 98,ME,2000 and NT. It runs on a single PC or on a network. On a network, it supports access via any combination of platforms.   

Online Help

The Tally.ERP 9 online help (Alt+H) provides instant assistance on basic and advanced features or any other relevant topics of Tally.ERP 9.  

Tally.NET

is an enabling framework which establishes a connection through which the remote use can access the. Client's data without copying / transferring the data. 

Remote Access 

Tally.ERP 9 provides remote capabilities to access the data frm anywhere and anytime.

Control Center 

works as an interface between the user and Tally.ERP 9 installed at different sites and enables the use to centrally configure and administer Site/User belonging to an account.

Support Center

allows a user to directly post his support queries on the functional and technical aspects of the Product. 

Auditor's Edition 

Tally.ERP 9 office a special Auditors'Edition of Tally.ERP 9, which provides auditing and compliance exclusively for Chartered Accountants.