How to Create Points to Remember | Tally erp9

Points to Remember 

• F11: Feature are company-specific. You are allowed to specify options that are specific to the selected company only.               
• The Accounting Features helps the user to create Budgets & Se D  Scenarios, Currencies, Cost Categories etc. in addition to Groups and Ledgers.                       
• The Inventory Features helps the user to create Stock categories Multiple Godowns, Use Tracking Numbers, Order Processing, Price levels etc. in addition to Stock Groups, Stock ltems and Units of measure.                                            
• The Statutory & Taxation Features helps the user to enable v Added Tax (VAT), Excise, Service Tax, Tax deducted at Source(TDS Tax Collected at Source (TCS), Excise Duty along with Tax in such as Local Sales Tax Number, Inter-state Sales Tax Number, PAN Income -Tax Number.                 
• F12: Configuration options are applicable to all the companies in the same data directory.                                         
• All financial entries are performed using ledgers or account heads.                           
• Group is a collection of Ledgers of the same nature.                                       
• You can delete a ledger by pressing Alt+D in the Ledger Alteration screen.

How to Create other Ledgers given in the Trial Balance | Tally Course

Create other Ledgers given in the Trial Balance 

1.Remember you have already input the ledger details for the two Sundry Debtors, the Trust Loan and Petty Cash 
2.Work from the Trial Balance, referring to the Chart of Accounts for the group to select, and ate the ledgers using the single or multiple options, depending on the number of ledgers create. 
3.For the ledgers under Sales Accounts and Purchase Accounts, set Inventory values affected? to No. Reset it to Yes when you start Inventory Vouchers. 
4.Please enter on the ledger names as per the Trial Balance 
5.Sundry Creditors should be set up using the multiple options in the same way au the Sundry Debtors, except that the opening balances will be credits.
6.Watch the debits and credits on the two accumulated depreciation ledgers as, Tally ERP assumes it to be a debit balance (Dr). You need to change this to Cr 
7. Creste a ledger for Bank Interest even though its balance is zero 

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Verify the Ledgers and Opening Balances 

In practical situations, that is all you have, the Chart of Accounts and the Trial Balance You need to match the Trial Balance ledger accounts with the Chart of Accounts. You might put the opening balance figures in the chart of accounts itself. Tally ERP 9 needs to know the Group under which each account falls at the time you are creating the ledger account 
To ease your waik-through, the following Multi Ledger Alteration screen is taken from Tally ERP 9 after entering the data. You can use them to verify your ledger accounts 

Go to the Gateway of Tally> Accounts Info. > Ledgers > Multiple Alteration > Select All Items.

Multi-ALedger Alteration Screen

Press Y or Enter to accept the screen.

Altering Groups/Altering and Displaying Ledgers /Ledger Creation

The Group Creation Screen appears as :

Group Creation

10. Press Y or Enter to accept the screen.

Altering Groups.
Once created , groups can be altered by selecting the Alter option for single or multiple groups. The procedure is the same as used earlier to display groups, except that, here the data can be altered.



Deleting Groups 
You can delete a group via the Group Alteration (Single Mode) screen by pressing Alt+D However, you cannot delete Tally ERP 9's pre-defined groups, or groups with sub-groups or groups containing ledgers. The lowest level must be deleted first.  

Tally.ERP 9 walk through to create National Traders ledgers with opening balances 

Go to the Gateway of Tally >Accounts Info. >Ledgers> Create 

Adding Single Ledgers 
1. Name: IPPW Society Loan 
2. Alias: Skip this field 
3. Under: Secured Loans 
4. Inventory values are affected ?: No 
5. Opening Balance (on 1-April-2010): 50000 Cr

Ledger Creation

however, you can chaage t to debt (Dr) t roquired Al nohe Du Taly ERP 9 crrently dinpinys running total of the aiernco i the balancos have beon entered 

6. Press Y or Enter to accept the screen. 

Adding Multiple Ledgers 

• Under Group: Sundry Debtor 
• Name of Ledger Data Link Technologies 
• Opening Balance: 26000 Dr 
• Name of Ledger: Spectrum Computers 
• Opening Balance 12400 Dr 
• Name of Ledger Supreme Computers 
• Opening Balance 13500 Dr 
• Press Y or Enter to accept the screen. 

Altering and Displaying Ledgers 
The procedures for altering and displaying ledgers are similar to those of groups.Now try this out on National Traders by altering the Tally ERP 9 pre-defined ledger for Cash to Petty Cash and anteing the opening balance. 

• Select Alter from the Single Ledger option 
• Select Cash from the List of Ledgers 
• Change the Name from Cash to Petty Cash 
• Enter the Opening Balance of 500 Dr 
• Press Y or Enter to accept the screen. 

if you use Display in Single Ledger now, you will see that the List of Ledgers shows Petty Cash instead of Cash 

Deleting Ledgers 
You can delete a ledger,by pressing All+D in the Ledger Alteration screen. 
You will not be able to delete a ledger, once the financial transactions (vouchers) have entered (excluding the Opening Balance).If there is a need to delete a ledger with any financial transactions the lowest level must be deleted first by pressing Alt+D

How to Create Group ~ Tally erp9

We can access all the configuration options for the Masters from the Gateway of Tally > F12 Configure>Accts/Inventory Info 

Go to the Gateway of Tally>Accounts Info. > Groups> Create (Single Group) 

Click on F12: Configure button and set Yes to: 

• Allow ALIASES along with Names 
• Allow Language ALIASES along with Names 
• Allow ADVANCED entries in Masters 

Accept the configuration screen and Tally.ERP 9 displays the Group Creation Screen in which you will notice additional information like: 
1. Alias -This is a simple mechanism of identifying an account by another name. 

2.Group behaves like a Sub-Ledger -The group behaves like a Control Account for the ledg- ers it contains when set to Yes. Only the group balance will be displayed, not the individual edger balances. It is useful for groups such as Sundry Debtors and Sundry Creditors (which are pre-set to Yes) where there can be numerous ledger items 

3. Nett Debit/Credit Balances for Reporting-By setting this to Yes, amounts will be displayed as a net figure instead of separate debit and credit balances in reports. 

Create Group 
1. Name: Depreciation 
2. (alias): Type Deprn and press Enter. This allows you to refer to the group by either name. You will notice that there is a field to enter a second alias if required. If you enter a name here, another alias field will be displayed, and so on. Tally uses the main name on all displays and reports, but this multiple alias facility is extremely useful for data entry. 
3. Under: Select Primary from the list of Groups 
4. Nature of Group: Select Expenses 

N.B:-
Nature of Group is displayed when the new Group is created under a Primary Group. It helps to distinguish whether the group is a part of assets, liabilities, income or expenses, to identify the correct group for the Balance Sheet or Profit& Loss A/c 

5. Does it affect Gross Profits?: No Since these are Expenses (and the same is true for Income) which affect the Profit & Loss A/c, Tally.ERP 9 needs to know if the group affects the gross profit. This field will not appear if you are adding a group to an existing group.

N.B:-

• For Primary Income and Expenses Groups, the field Does it affect Gross Profit? tells Tally ERP 9 whether the item is above or below the line in the Profit& Loss A/c in terms of its effect on the gross or net profit. Direct items are pre-set to Yes and indirect items to No. 

6. Group behaves like a Sub-Ledger: No 
7. Nett Debit/Credit Balances for Reporting: No. 
8. Used for Calculation (eg. Taxes, Discounts): No 
9. Method to Allocate when used in Purchase Invoice: Not Applicable

LIABILITIES/Chart of Accounts in Balance Sheet Liabilities /Incomes | Tally erp9

LIABILITIES 

Current Liabilities (P) 
Duties &Taxes (P) 

• Sales Tax (L) 

Sundry Creditors (P) 

• Challenger Systems (L 
• Horizon Enterprises (L.) 
• Silverplus Computers (L) 
• Tax Deducted at Source (L) 

Loans (Liability) (P) 
Secured Loans (P) 

• Mutual Trust Loan (L) 

Capital Account (P)

• Equity Capital (L)                                                                                                                                                                                 Chart of Accounts in Balance Sheet Liabilities 

Revenue Accounts appearing in the Profit & Loss Account 

INCOME 
Sales Accounts (P) 

• Computer Sales (L) 
• Component Sales (L)
• Printer Sales (L) 

Indirect incomes (P) 

• Bank Interest (L)

EXPENSES

Purchase Accounts (P) 

• Computer Purchase (L) 
• Pinter Purchase (L) 
• Purchase (L) 

Direct Expenses (P) 

• Wages (L) 
• Freight Charges (L) 

Indirect Expenses (P) 

• Salary (L) 
• Office Costs (L) 

Depreciation (NPG) 

Chart of Accounts in Profit& Loss account Expenses 

Tally.ERP 9 Walk-through to Create Group Names for National 

Traders.Check the following: 
1. Check whether the Current Date is April 1, 2010. To change the Current Date, click F2: Date on the button bar.Note that Tally ERP 9 increments the date assuming that you want to change to the next day.You can accept it or change it.Type 1-4-2010 and press Enter to accept.
2.Press Esc, if you do not have the Gateway of Tally menu displayed.Let us now get familiar with Tally.ERP 9's Display functions.

Displaying groups in Single Group and Multiple Group in the chart of accounts. 
Go to the Gateway of Tally >Accounts Info.> Groups > Display (Single Group) Bank Accounts. 

You can now use the Page Up and Page Down keys to view different groups.  

N.B,

• The Groups. in Tally ERP 9, serve to both classify and identify Account heads (ledger accounts) according to their nature. This enables a presentation of summarized information.                        
• The Groups have a hierarchical organisation. At the top of the to hierarchy are Primary Groups where accounts are classified in capital or revenue, more specifically into assets, liabilities, income and expenditure to determine the entire accounting and their presentation ie, whether a ledger affects Profit & Loss Account (as a revenue item) or goes into the Balance Sheet.                                                                
• Tally ERP 9 provides a set of reserved groups, based on mercantile accounting principles, and allows you to modify their names or create sub-groups and primary groups. 

Let us now view the List of Groups in the Multiple Display Mode. Go to the Gateway of Tally > Accounts Info. > Groups Display (Multiple Groups) > Seled All Items

Trial Balance of National Traders/Chart of Accounts of National Traders | Tally erp9

Given below is Trial Balance of National Traders extracted from the Books of Accounts at the close business on March 31, 2010.


                                      Trial Balance

Particulars		Debit	Credit
Bank Account		35000
Deposit Account		40000
Petty Cash		500
Opening Stock		286150
Sundry Dedtors(Total)		57300
Compu Care Systems	5400
Data Link Technologies	26000
Spectrum Computers	12400
Supreme Computers	13500
Buildings		75000
Buildings Accum Deprm			8000
Office Equipment		25000
Office equip Accum Deprn			4500
Tax D educted at Source			4780
Sales tax			13600
Sundry Creditors(Total)			156000
Challenger Systems	65650
Horizon Enterprises	44750
Silveplus Computers	45600
Mutual Trust Loan
Equity Cap0ital
Pofil & Loss A/c
Total		518950	518950

The Chart of Accounts to be prepared is based on the above Trial Balance of  National Traders. This is assist you in understanding the classification of ledgers. To help you, each account has been marked as: 

• P - Pre-defined Tally.ERP 9 Group(no action)
• L - Ledger account required
• NG - New Group required
• NPG - NEW Primary Group required

Chart of Accounts of National Traders 
1. Capital Accounts as appearing in the Balance Sheet: 

i) ASSETS 

• Current Assets (P)  
• Bank Accounts (P) 
• Bank Account (L) 
• Deposit Account (L) 
• Cash-in-Hand (P) 
• Petty Cash (L)  
• Stock-in-Hand (P) 
• Stock (L)
• Sundry Debtors (P) 
• Compu Care Systems (L) 
• Data Link Technologies (L)
• Spectrum Computers (L) 
• Supreme Computers (L) 

ii) Fixed Assets (P) 

• Buildings (NG) 
• Buildings (L)
• Building Accum. Deprn (L) 
• Office Equipment (NG) 
• Office Equipment (L) 
• Office Equip.
• Accum. Deprn (L)