SSC STUDY

Category: Tally Prime Notes

  • Create Stock Item in Tally Prime Notes for Practice

    How to create Stock Group, Unit, Godown and stock item in Tally Prime. Step by Step Notes with practice assignment for Computer Training Institute and Self Study of learners.

    Create a New Company for Practice the creation of Stock Group, Godown, Unit and Stock Item
    F3  : (Company) > Create Company

    Accounting :
                Maintain Account                            :Yes
                Enable bil wise entry                      : Yes 
Inventory
                Maintain Inventory                         : Yes
                Integrate Accounts with Inventory : Yes 
Taxation :
                Enable GST                                  : No

    Create Stock Group in Tally Prime

    Gateway of Tally > Masters > Create > Inventory Masters > Stock Group

    Stock GroupUnder
    SystemPrimary
    PartsPrimary
    Mother BoardParts
    CD RomParts
    Eight SpeedCD Rom
    Ten SpeedCD Rom
    SoftwarePrimary
    AceSoftware
    KingSoftware
    QueenSoftware

    Create Godown / Location

    Gateway of Tally > Masters > Create > Inventory Masters > Godown
    Main Location exists by default.  Create following new Godown

    GodownUnder
    OnsidePrimary
    Ware HousePrimary

    Create Unit

    Gateway of Tally > Masters > Create > Inventory Masters >Unit

    SymbolFormal Name
    NosNumber

    Type: Simple

    Create Stock Item in Tally Prime

    Gateway of Tally > Masters > Create > Inventory Masters >Stock item
    F12 : Configure  > Show More Configuration : Yes
    Inventory details :
    Provide Standard Buying and Selling Rates :  (Yes)

    During creation of following items use
    Units: Nos
    Set Standard Rates (Yes) : Provide Rate of respective item from below table.
    Opening Balance : Quantity of item
    Godown : Onside and Warehouse, as mentioned below (Do’t fill rate here)

    Item NameUnderStandard Cost RateSelling Price RateQuantityOnsideWarehouseAmount
    P086 MXSystem7509408716000
    P092 MXSystem90011301521313500
    P110 MXSystem103012901221012360
    MBP 133Parts240320220480
    MBP 150Parts2853806601710
    MBP 166Parts335450101003350
    Gold 8Eight Speed456022090
    Silver 8Eight Speed5570440220
    Brown 8Eight Speed6080440240
    Gold 10Ten Speed75100252501875
    Silver 10Ten Speed95130202001900
    Data Base AAce175250101001750
    Speed Short AAce155220151502325
    Data Base KKing100150770700
    Speed Short KKing1402008801120
    Data Base QQueen210306101002100
    Speed Short QQueen70100440280
    Create Stock Item in Tally Prime

    Go To (Alt+G) : Stock Query  : To check individual items
    Go To (Alt+G) : Stock Summary >F5 (stock Item wise)

    Download PDF : Tally Prime Stock Inventory and Bill wise Entry

  • Voucher Entry in Tally Prime Notes

    Voucher Entry in Tally Prime : Computer Training Notes with exercise / assignment for practice. Sample entry for Self study and computer coaching Classes.

    Create New Company  : Super_Voucher : As per the procedure mentioned in Introduction of Tally Prime Notes

    Voucher in Tally Prime

    All entries which you made in these given accounting vouchers are effect on your current accounting of your business.

    • F4: Contra : Cash deposited into bank and cash withdrawn from bank entries.
    • F5: Payment : Cash and cheque payment including cash and bank purchase entries.
    • F6: Receipt : Cash and cheque received including cash and bank sales entries.
    • F7: Journal : All non-cash transactions entries.
    • F8: Sales : Only credit sales entries.
    • F9: Purchases : Only credit purchase entries.
    • Alter + F7: Stock Journal : Stock transferred and production entries.

    Gateway of Tally > Transactions > vouchers

    Vouchers Mode Entries

    Mode Change for Purchase and Sales voucher
    Ctrl +L           : Accounting Invoice       :As voucher

    1. Started Business with cash Rs500000                           (Receipt.F6)
    2. Open bank account in PNB bank with cash Rs 25000  (Contra.F4)
    3. Purchased goods for cash of Rs 50000                         (Payment.F5)
    4. Purchased Machinery for Cash Rs 100000                    (Payment.F5)
    5. Purchase goods on credit from Mr. Pawan Kumar Rs 60000 (Purchase. F9)
    6. Paid discount Rs 2000                                                   (Payment.F5)
    7. Sold goods on credit to Mr. SameerAlamRs 72000      (Sales. F8)
    8. Purchase goods on credit from Super Pvt. Ltd. Rs 16000  (Purchase. F9)
    9. Received cash from Mr. SameerAlamRs 72000              (Receipt. F6)           
    10. Paid cash to Mr. Pawan KumarRs 60000                        (Payment.F5)
    11. Commission received Rs 5000                                       (Receipt. F6)
    12. Electricity bill paid Rs 1000                                            (Payment.F5)
    13. Purchased goods on credit from Sona Enterprise Rs 14000  (Purchase. F9)
    14. Purchased computer for cash Rs 21000                         (Payment.F5)
    15. Deposited cash into PNB bank Rs 10000                       (Contra.F4)
    16. Sold goods for cash Rs 80000                                        (Receipt.F6)
    17. Paid cash to Sona Enterprise Rs 14000                          (Payment.F5)
    18. Depreciation on 10% for Machinery Rs 5000                 (Journal.F7)
    19. Interest paid cash on loan Rs 1000                                 (Payment.F5)
    20. Withdraw cash into PNB bank Rs 25000                         (Contra.F4)
    21. Received Service Charge Rs 18000                                (Receipt.F6)
    22. Paid cash to Super Pvt. Ltd. Rs 16000                             (Payment.F5)

    Voucher Entry in Tally: Step by Step

    Create the required Ledger directly

    Press Alt+C after reaching in the entry box below Particulars.
    Example : Create Capital Ledger under Capital Account Group
    PNB Bank Ledger under Bank Account and so on.

    (Receipt.F6)

    Cr Capital500000Capital Accounts
    Dr Cash         500000Cash in Hand

    (Contra.F4)

    Cr Cash25000Cash in Hand
    Dr PNB Bank         25000Bank Accounts

    (Payment.F5)

    Dr Purchase50000Purchase Accounts
    Cr Cash         50000Cash in Hand

    (Payment.F5)

    Dr Machinery100000Fixed Assets
    Cr Cash         100000Cash in Hand

    (Purchase. F9)    

    Cr Pawan Kumar60000Sundry Creditors
    Dr Purchase         60000Purchase Accounts

    (Payment.F5)

    Dr Discount2000Indirect Expenses
    Cr Cash         2000Cash in Hand

    (Sales. F8)

    Dr SameerAlam72000Sundry Debtors
    Cr Sales         72000Sales Accounts

    (Purchase. F9)  

    Cr Super Pvt Ltd16000Sundry Creditors
    Dr Purchase         16000Purchase Accounts

    (Receipt.F6)

    Cr Sameer Alam72000Sundry Debtors
    Dr Cash         72000Cash in Hand

    (Payment.F5)

    Dr Pawan Kumar60000Sundry Creditors
    Cr Cash         60000Cash in Hand

    (Receipt. F6)

    Cr Commission5000Indirect Incomes
    Dr Cash         5000Cash in Hand

    (Payment.F5)

    Cr Cash1000Cash in Hand
    Dr Electricity Bill         1000Indirect Expenses

    (Purchase. F9)

    Cr Sona Enterprise14000Sundry Creditors
    Dr Purchase         14000Purchase Accounts

    (Payment.F5)

    Cr Cash21000Cash in Hand
    Dr Computer         21000Fixed Assets

    (Contra.F4)

    Cr Cash10000Cash in Hand
    Dr PNB Bank         10000Bank Accounts

    (Receipt.F6)

    Cr Sales80000Sales Accounts
    Dr Cash         80000Cash in Hand

    (Payment.F5)

    Cr Cash14000Cash in Hand
    Dr Sona Enterprise         14000Sundry Creditors

    (Journal.F7)

    Dr Depreciation5000Indirect Expenses
    Cr Machinery         5000Fixed Assets

    (Payment.F5)

    Cr Cash1000Cash in Hand
    Dr Interest on Loan         1000Indirect Expenses

     (Contra.F4)

    Cr PNB Bank25000Bank Accounts
    Dr Cash         25000Cash in Hand

     (Receipt.F6)

    Cr Commission18000Indirect Income
    Dr Cash         18000Cash in Hand

     (Payment.F5)

    Cr Cash16000Cash in Hand
    Dr Super Pvt Ltd         16000Sundry Creditors

    Balance Sheet : Gateway of Tally > Reports > Balance Sheet

    Cash in Hand400000
    Bank Accounts10000
    Net Profit26000
    Balance Sheet526000

    Show all Vouchers Entries : Gateway of Tally> Transaction  > Day Book

    Download PDF : Tally Accounts, Introduction and voucher Entry Notes

    Thanks for study the Notes of Voucher Entry in Tally Prime

  • Groups and Ledgers in Tally Prime Notes

    Groups and Ledgers in Tally Prime computer training class Notes. Pre defined Groups and Ledgers, Create New, Alter, Credit and Debit amount. Step by Step Notes for Tally training.

    Groups in Tally Prime

    Pre-Defined Group

    Gateway of Tally  > Chart of Account > List of Masters >Groups

    There are 28 predefined groups in Tally

    15 groups are Primary Groups and the remaining 13 groups are Sub-Groups

    1. Branch / Divisions (P)15. Direct Expense (P)
    2. Capital Account (P)16. Direct Incomes (P)
    3. Reserves & Surplus17. Fixed Assets (P)
    4. Current Assets (P)18. Indirect Expenses (P)
    5. Bank Accounts19. Indirect Incomes (P)
    6. Cash-in-Hand20. Investments (P)
    7. Deposits (Asset)21. Loans (Liability) (P)
    8. Loans & Advances (Asset)22. Bank OD A/c
    9. Stock-in-Hand23. Secured Loans
    10. Sundry Debtors24. Unsecured Loans
    11. Current Liabilities (P)25. Misc. Expenses (Asset) (P)
    12. Duties & Taxes26. Purchase Accounts(P)
    13. Provisions27. Sales Accounts (P)
    14. Sundry Creditors28. Suspense A/c (P)

    Creating Group

    Gateway of Tally > Masters > Create > Accounting Masters > Group  

    Group NameUnderNature of Group
    BuildingFixed Assets—
    Office EquipmentPrimaryAssets
    DeprecationPrimaryExpenses

    Check on Gateway of Tally > Chart of Account> Groups

    Ledgers

    Creating Ledger

    By default there is two ledgers

    1. Cash
    2. Profit and Loss A/c

    Check the default ledgers Gateway of Tally>Charts of Accounts>Ledgers

    Groups and Ledgers in Tally Prime

    Gateway of Tally > Masters  > Create >Ledger

    Ledger NameGroup Under
    Punjab National BankBank Account
    State Bank of IndiaBank Account
    Petty CashCash in Hand
    Opening StockStock in Hand
    Suresh SinghSundry Debtors
    National Pvt. Ltd.Sundry Debtors
    Building CostBuilding (Fixed Assets)
    Building Accrued DepBuilding (Fixed Assets)
    Office Equipment CostOffice Equipment (Assets)
    Office Equipment DepOffice Equipment
    Sales TaxDuties & Taxes
    T.D.SDuties & Taxes
    Shivam KumarSundry Creditors
    Sona EnterpriseSundry Creditors
    Education Loan Secured Loan
    Bill ReceivableCurrent Assets
    Computer SalesSales Accounts
    Software SalesSales Accounts
    Parts SalesSales Accounts
    Bank InterestIndirect Incomes
    PurchasePurchase Accounts
    WagesDirect Expenses
    FreightDirect Expenses
    SalariesIndirect Expenses
    Office ExpensesIndirect Expenses
    AdvertisementsIndirect Expenses
    Bank ChargesIndirect Expenses
    Building DeprecationDeprecation
    Office Equipment Accrued DepDeprecation

    Ledger Alteration

    Gateway of Tally > Masters  > Alter >Ledger

    ParticularsDebitCredit
    Punjab National Bank35000 
    State Bank of India40000 
    Petty Cash500 
    Opening Stock50000 
    Suresh Singh15000 
    National Pvt. Ltd.5000 
    Building Cost75000 
    Building Accrued Dep 6000
    Office Equipment Cost25000 
    Office Equipment Dep1000 
    Sales Tax 9000
    T.D.S 4500
    Shivam Kumar 32000
    Sona Enterprise 20000
    Education Loan 60000
    Bill Receivable 14000
    Computer Sales 72000
    Software Sales 75000
    Parts Sales 35000
    Bank Interest  
    Purchase120000 
    Wages10000 
    Freight500 
    Salaries20000 
    Office Expenses3500 
    Advertisements2000 
    Bank Charges2500 
    Building Deprecation2500 
    Office Equipment Accrued Dep 80000
      Total  407500  407500

    Trial Balance

    Gateway of Tally > Display more Reports> Trial Balance > Press F5 (Ledger wise and Group wise)

    Download PDF : Tally Accounts, Introduction and voucher Entry Notes

    Thanks for study the Notes on Groups and Ledgers in Tally Prime

  • Introduction of Tally Prime Notes

    Introduction of Tally Prime : Training Notes with Practical Assignment for Self study of Tally and computer Coaching Classes. Step by Step tally training study material.

    Tally Prime is accounting software, used in business to record, summarize and maintain business transactions. Tally was developed in 1984 by Shyam Sunder Goenka in Bangalore.

    Download Tally Prime

    Download Tally Prime from https://tallysolutions.com/download/

    Install in your PC / Laptop

    Use Educational Mode of Tally Prime : Free

    For Training purpose : Most of the computer training Institute use Educational Mode: It is free and work without license.

    Available Date in Tally Educational Version

    Tally Prime- educational mode work without a license, where you can input data only on the first, second, and last days of the month.

    Start Tally Software

    Open Tally > W: Work in Educational Mode

    Create a Company

    F3 :(Company) > Create Company

    Create Company in Tally prime

    Company Name : Super Traders
    Fill up : Address,  State and other optional details.
    Accept  

    Company Created Successfully,
    (Enable features as per your business need)

    Accounting
    Maintain Account                                      : Yes
                Enable bill wise entry                    : Yes

    Inventory                                                     : No
    Enable Goods and Service Tax (GST)    : No
    TDS                                                                 : No

    Accept

    Shut Company

    F3 > Company  > Shut Company

    Alter Company

    Go To > Select Company > Super Traders

    F3 : Company > Alter Company
    Change your address or any other data
     Accept

    Delete Company

    Go To> F3 (Company) > Alter Company > Alt + D

    Company Super Traders has been deleted

    Again Create Company Super Traders

    (Follow the steps mentioned in Create Company)

    Thanks for study the Introduction of Tally Prime Notes

    Tally Prime Notes Topic wise

    Download PDF : Tally Accounts, Introduction and voucher Entry Notes

  • Fundamental of Accounting and Tally Prime Notes

    Fundamental of Accounting and Tally Prime Notes for Self Study and Computer Coaching classes. Step by Step training Notes with Practice assignment.

    Definition of Accounting

    Accounting is the process of identifying, recording, classifying and reporting information on financial transactions in a systematic manner for the purpose of providing financial information for decision making.

    Types of Accounts

    There are basically three types of Accounts maintained for transactions

    • Personal Account
    • Real Account
    • Nominal Account

    Personal Account: Any individual person or any firms or any company or a bank is considered in a Personal account. For example:-   Rajesh Singh, Muna Enterprise,    Wipro Pvt Ltd, PNB Bank, Capital etc.

    Real Account: Account of any physical things. The cash account or goods account are examples of Real account. For example:-   Cash, Land, Building, Furniture, Computer etc.

    Nominal Account: Account of any invisible things that means that things are in terms of cash are examples of Nominal account. For example:-  Discount, Commission, Salary, Wages, Freight etc.

    Golden Rules of Accounting

    Personal Accounts

    The ReceiverDebit (Dr)
    The GiverCredit (Cr)

    Real Accounts

    What comes inDebit (Dr)
    What goes outCredit (Cr)

    Nominal Accounts

    All Expenses or LossesDebit (Dr)
    All Income or GainsCredit (Cr)

    Entries in Account Book

    1. Suresh started a business with cash Rs 1,80,000

    Cash a/c  Dr180000
    To Capital a/c           180000

    2. Cash deposited into PNB bank Rs 55000

    PNB bank a/c  Dr55000
    To Cash a/c        55000

    3. Purchase goods for cash Rs 22000

    Purchase a/c Dr22000
    To Cash a/c        22000

    4. Bought goods fromSona Enterprise Rs 72000

    Purchase a/c Dr72000
    To Sona a/c        72000

    5. Sold goods for cash Rs 16200

    Cash a/c Dr16200
    To Sales a/c        16200

    6. Paid rent for the year by PNB bank chequeRs 6000

    Rent a/c Dr6000
    PNB bank a/c        6000

    7. Withdraw cash into PNB bank Rs 40000

    Cash a/c Dr40000
    To PNB bank a/c        40000

    8. Purchased furniture for cash Rs 5000

    Furniture a/c Dr5000
    To Cash a/c        5000

    9. Sold goods to SuperRs 12700

    Super a/c Dr12700
    To Sales a/c        12700

    10. Received cash from SuperRs 12446 and allowed him discount Rs 254

    Cash a/c Dr12446
    Discount allowed a/c    254
    To Super a/c             12700

    11. Paid wages Rs 1800

    Wages a/c Dr1800
    To Cash a/c        1800

    12. Paid cash for trade Expenses Rs 2000

    Trade Expenses a/c Dr2000
    To Cash a/c        2000

    13. Withdraw cash for private Expenses Rs 8000

    Drawings a/c Dr8000
    To Cash a/c        8000

    14. Depreciation on Machinery Rs 50000

    Depreciation a/c Dr50000
    To  Machinery a/c        50000

    Financial Year Start 1 April To 31 March

    Thanks for study the Fundamental of Accounting and Tally Prime Notes

    Download PDF : Tally Accounts, Introduction and voucher Entry Notes