Unit 1:

Unit – 1: BASICS OF ACCOUNTING & INTRODUCTION TO TALLY

INTRODUCTION:

In all activities and in all organizations, money and other economic resources are required.
Accounting is required to account for these resources. In other words, wherever money is
involved, accounting is required to account for it. Accounting is often called the language of
business. The basic function of any language is to serve as a means of communication.
Accounting also serves this function.

MEANING AND DEFINITION OF BOOK-KEEPING:

Meaning of Book-Keeping:

Book-keeping includes recording of journal, posting in ledgers and balancing of accounts. All
the records before the preparation of trail balance are the whole subject matter of
book - keeping.

MEANING AND DEFINITION OF ACCOUNTING:

Meaning of Accounting:

Accounting, as an information system is the process of identifying, measuring and

communicating the economic information of an organization to its users who need the
information for decision making. It identifies transactions and events of a specific entity.
A transaction is an exchange in which each participant receives or sacrifices value (e.g.
purchase of raw material).

METHODS OF ACCOUNTING:

Business transactions are recorded in two different ways.

1. Single Entry
2. Double Entry

1. Single Entry:

It is incomplete system of recording business transactions. The business organization

maintains only cash book and personal accounts of debtors and creditors.

2. Double Entry:

In this system every business transaction is having a twofold effect of benefits giving
and benefits receiving aspects. The recording is made on the basis of both these aspects.
Double Entry is an accounting system that records the Effects of transactions and other
events in atleast two accounts with equal debits and credits.

Steps involved in Double entry system:

(a) Preparation of Journal: Journal is called the book of original entry. It records the effect
of all transactions for the first time. Here the job of recording takes place.

(b) Preparation of Ledger: Ledger is the collection of all accounts used by a business. Here
the grouping of accounts is performed. Journal is posted to ledger.

(c) Trial Balance preparation: Summarizing. It is a summary of ledger balances prepared in

the form of a list.

(d) Preparation of Final Account: At the end of the accounting period to know the
achievements of the organization and its financial state of affairs, the final accounts are
prepared.

Meaning of Debit and Credit:

The term ‘debit’ is supposed to have derived from ‘debit’ and the term ‘credit’ from
‘creditable’. For convenience ‘Dr’ is used for debit and ‘Cr’ is used for credit. Recording of
transactions require a thorough understanding of the rules of debit and c r e d i t r e lating to
accounts. Both debit and credit may represent either increase or decrease, depending upon the
nature of account.

Types of Accounts:

The object of book -keeping is to keep a complete record of all the transactions t h a t
p l a ce in the business. To achieve this object, business transactions have been classified into
three categories:

(i) Transactions relating to persons: The accounts falling under this heading are known as
‘Personal Accounts’.

(ii) Transactions relating to properties and assets: The accounts falling under this heading
are known as ‘Real Accounts’.

(iii) Transactions relating to incomes and expenses: The accounts falling under this
heading are called ‘Nominal Accounts’.

Rules of Accounting:

1. Personal Accounts: Accounts recording transactions with a person or group of

persons are known as personal accounts. These accounts are necessary, in particular, to
record credit transactions.

The rule for personal accounts is: Debit the receiver

Credit the giver
2. Real Accounts: Accounts relating to properties or assets are known as ‘Real Accounts’, A
s e p a r a t e a c c ount is maintained for each asset e.g., Cash Machinery, Building, etc.,

The rule for Real accounts is: Debit what comes in

Credit what goes out

3. Nominal Accounts: Accounts relating to income, revenue, gain expenses and losses are
termed as nominal accounts. A separate account is maintained for each head or expense
or loss and gain or income. Wages account, Rent account C o m m i s s i o n account,
Interest received account are some examples of nominal account.

The rule for Nominal accounts is: Debit all expenses and losses
Credit all incomes and gains

MODES OF ACCOUNTING:

The Modes of accounting are:

i) Financial accounting
ii) Cost accounting
iii) Management accounting

Now, let us understand these terms.

1. Financial Accounting: The accounting system concerned only with the financial state of
affairs and financial results of operations is known as Financial Accounting.

2. Cost Accounting: In view of the limitations of financial accounting in respect of

information relating to the cost of individual products, cost accounting was developed.

3. Management Accounting: It is an accounting for the management i.e., accounting which

provides necessary information to the management for discharging its functions.

ACCOUNTING PRINCIPLES, CONCEPTS AND CONVENTIONS:

Accounting principles are basic guidelines that provide standards for scientific accounting
practices and procedures. They guide as to how the transactions are to be recorded and
reported. They assure uniformity and understandability.

Accounting concepts lay down the foundation for accounting principles. They are ideas
essentially at mental level and are self-evident. These concepts ensure recording of financial
facts on sound bases and logical considerations.

Accounting conventions are methods or procedures that are widely accepted. When
transactions are recorded or interpreted, they follow the conventions. Many times, however,
the terms-principles, concepts and conventions are used interchangeably.

ACCOUNTING TERMINOLOGY:
It is necessary to understand some basic accounting terms which are daily in business world.
These terms are called accounting terminology.
1. Transaction: “An event the recognition of which gives rise to an entry i n
a c c o u n t i n g records. It is an event which results in change in the balance sheet equation.
2. Debtor: A person who owes money to the firm mostly on account of credit sales of goods
is called a debtor.
3. Creditor: A person to whom money is owing by the firm is called creditor.
4. Capital: It means the amount (in terms of money or assets having money value) which
the proprietor has invested in the firm or can claim from the firm.
Capital = Assets-Liabilities.
5. Liability: It means the amount which the firm owes to outsiders that is, excepting the
proprietors.
6. Asset: Any physical thing or right owned that has a money value is an asset
7. Goods: It is a general term used for the articles in which the business deals; that is, only
those articles which are bought for resale for profit are known as Goods.
8. Revenue: It means the amount which, as a result of operations, is added to the capital.
9. Expense: The terms ‘expense’ refers to the amount incurred in the process of earning
revenue.
10. Expenditure: Expenditure takes place when an asset or service is acquired.
11. Purchases
12. Sales: When the goods purchased are sold out, it is known as sales. Here, the possession
and the ownership right over the goods are transferred to the buyer.
13. Stock: The goods purchased are for selling, if the goods are not sold out fully,
a part of the total goods purchased is kept with the trader unlit it is sold out, it is said to be a
stock.
14. Drawings: It is the amount of money or the value of goods which the proprietor takes
for his domestic or personal use. It is usually subtracted from capital.
1 5 . L o s s e s : Loss really means something against which the firm receives no benefit. It
r e p r e s e nts money given up without any return. It may be noted that expense leads to
revenue but losses do not. (e.g.) loss due to fire, theft and damages payable to others,
16. Account: It is a statement of the various dealings which occur between a customer and
the firm
17. Invoice: While making a sale, the seller prepares a statement giving the particulars such
as the quantity, price per unit, the total amount payable, any deductions made and shows the
net amount payable by the buyer. Such a statement is called an invoice.
18. Voucher: A voucher is a written document in support of a transaction. It is a proof that a
particular transaction has taken place for the value stated in the voucher
19. Proprietor: The person who makes the investment and bears all the risks connected with
the business is known as proprietor.
20. Discount: When customers are allowed any type of deduction in the prices of goods by
the businessman that is called discount.
21. Solvent: A person who has assets with realizable values which exceeds his liabilities is
insolvent.
22. Insolvent: A person whose liabilities are more than the realizable values of his assets is
called an insolvent.

JOURNAL AND LEDGER:

Journal:
 When the business transactions take place, the first step is to record the same in the books of
original entry or subsidiary books or books of prime or journal.
Ledger:
Ledger is a main book of account in which various accounts of personal, real and nominal
nature, are opened and maintained. In journal, as all the business transactions are recorded
chronologically, it is very difficult to obtain all the transactions pertaining to one head of
account together at one place.
Format of Trading Account
Particulars Amount Amount Particulars Amount Amount

To Opening stock xxx By Sales xxxx

To Purchases xxxx Less: Sales returns xxxx xxx
Less: Purchase returns xxx xxx By closing stock xxx
To Cartage xxx By Gross Loss
To Carriage inwards xxx transferred to Profit and
To Freight xxx Loss Account)
To Wages xxx
To Water charges(Factory) xxx
To Electricity (Factory) xxx
To Packaging xxx
To Gross Profit (Gross profit xxx
transferred to profit & loss
account)

xxxx xxxx

Format of Profit & Loss Account

Particulars Amount Particulars Amount

(
To Gross loss (Transferred from xxx By Gross Profit (Transferred from xxx
Trading Account) Trading Account)
To Salaries xxx By Rent received xxx
To Rent, rates and taxes xxx By Commission received xxx
To Office lighting and heating xxx By Cash Discount earned xxx
To Insurance xxx By Bad debts recovered xxx
To Printing and stationery xxx
To Postage and telegrams xxx
To Interest paid xxx
To Discount allowed xxx
To Bad debts xxx
To Repairs xxx
To Depreciation xxx
To Commission paid xxx
To Carriage outwards xxx
To Travelling expenses xxx
 To Interest on loan xxx
To Net profit (Transferred to capital xxxx
account)
xxxx xxxx

Format of Balance sheet

Balance Sheet as on 31st March 2021
Liabilities Amount Amount Assets Amount Amount

1. Capital 1. Fixed Assets

Less: Drawings xxx Goodwill xxx
Less: Net loss xxx Patents xxx
Copyrights xxx
2. Long term Liability Land & Building xxx
Long term loan xxx Plant and machinery xxx
Long term deposits xxx Motor vehicles xxx
received
xxx Furniture and fixtures xxx
Bank Overdraft
xxx Loose tools xxx
3. Current Liability
xxx 2.LongTerm Investments xxx
Income received in
advance xxx 3.Current Assets

Liabilities for expenses xxx Short term investments xxx

Sundry creditors xxx Outstanding incomes xxx

Bills Payable xxx Prepaid expenses xxx

Short term loans xxx Closing stock xxx

Sundry debtors xxx
Bills Receivables xxx
Cash at Bank xxx
Cash in Hand xxx

xxxx xxxx

List of Different Ledgers and their groups in Trading Account

Ledger Name Tally Head

Sale Return Sales

 Sale Sales

Purchase Return Purchase

Purchase Purchase

Carriage Direct Expenses

Freight & Cartage Direct Expenses

Import duty Direct Expenses

Rent (Dr) Direct Expenses

Royalty Direct Expenses

Wages Direct Expenses

List of Tally Ledgers for Profit & Loss Account

Ledger Name Tally Head Ledger Name Ledger Name

Advertisement Indirect Expenses Postage & courier Indirect Expenses

Bank charges Indirect Expenses Printing & stationery Indirect Expenses

Bill drawn Indirect Expenses Rent (cr) Indirect Expenses

Carriage Indirect Expenses Repair charge Indirect Expenses

 Commission allowed Indirect Expenses Salary Indirect Expenses

Discount allowed Indirect Expenses Sale tax Indirect Expenses

Donation & charity Indirect Expenses Taxi fire Indirect Expenses

Free sample Indirect Expenses Telephone charge Indirect Expenses

Insurance premium Indirect Expenses Trade account Indirect Expenses

Interest on loan Indirect Expenses Travelling expenses Indirect Expenses

Legal charge Indirect Expenses Suspense Suspense a/c

Loss by fire Indirect Expenses Miscellaneous exp. Miscellaneous exp.

Office lighting Indirect Expenses Depreciation Indirect Expenses

Petty cashier Indirect Expenses Commission Received Indirect Income

Bed Debts Recovered Indirect Income Discount Received Indirect Income

Interest on Drawing Indirect Income Interest on Investment Indirect Income

List of Tally Ledgers for Balance Sheet

Ledger
Tally Head Ledger Name (Assets) Tally Head
Name(Liabilities)

Capital Capital Furniture Fixed asset

Drawing Capital Goods Fixed asset

Income Tax Capital Land & Building Fixed asset

Life insurance Capital Long term investment Fixed asset

Reserves & Surplus Reserves & Surplus Machinery & plant Fixed asset

Advance Current Liabilities Bank Cash at bank

Bank Overdraft Current Liabilities Cash Cash in hand

Bill Payable Current Liabilities Stock Stock in Hand

Outstanding expenses Current Liabilities Debitor name Sundry Debtors

Salary payable Current Liabilities Bad debtor Sundry Debtors

Creditor name Sundry Creditors Bill receivable Current Assets

Loan Loan Liabilities Goodwill Current Assets

Branch in division Branch in division National plant Current Assets

Accrued expenses Current Liabilities Prepaid expenses Current Assets

Short Term Investment Current Assets

Accrued income Current Assets

Prepaid rent Misc. Exp.- asset

Loss on theft Stock in Hand

EXERCISE NO.1

Question: Journalise the following transactions in the books of Shankar & Co.

1998 Rs.
June 1 Started business with a capital of 60,000
June 2 Paid into bank 30,000
June 4 Purchased goods from Kamal on credit 10,000
June 6 Paid to Shiram 4,920
June 6 Discount allowed by him 80
June 8 Cash Sales 20,000
June 12 Sold to Hameed 5,000
June 15 Purchased goods from Bharat on credit 7,500
June 18 Paid Salaries 4,000
June 20 Received from Prem 2,480
June 20 Allowed him discount 20
June 25 Withdrew from bank for office use 5,000
June 28 Withdraw for personal use 1,000
June 30 Paid Hanif by cheque 3,000

Solution:

Journal entries In the books of Shankar & Co.

Date Particulars L.F. Dr. Cr.

Rs. Rs.
1998
June 1 Cash A/c Dr. 60,000
To Capital A/c 60,000
(Capital brought into the business)
Voucher: F6: Receipt

June 2 Bank A/c Dr. 30,000

To Cash A/c 30,000
(Cash paid into bank)

Voucher: F4: Contra

June 4 Purchases A/c Dr. 10,000

To Kamal’s A/c 10,000
(Purchased goods from Kamal on credit)

Voucher: F9: Purchase

June 6 Shriram’s A/c Dr. 4,920

To Discount received A/c 80
To Cash A/c 4,840
(Cash paid to Shriram)
Voucher: F5: Payment

June 8 Cash A/c Dr. 20,000

To Sales A/c 20,000
(Cash sales effected)
Voucher: F6: Receipt

June 12 Hameed’s A/c Dr. 5,000

To Sales A/c 5,000
(Goods sold to Hameed)
Voucher: F8: Sales

June 15 Purchases A/c Dr. 7,500

To Bharat’s A/c 7,500
(Purchased goods from Bharat)
Voucher: F9: Purchase

June 18 Salaries A/c Dr. 4,000

To Cash A/c 4,000
(salaries paid)
Voucher: F5: Payment

June 20 Cash A/c Dr. 2,480

Discount Allowed A/c 20
To Prem’s A/c 2,500
(Cash received from Prem)
Voucher: F6: Receipt

June 25 Cash A/c Dr. 5,000

To Bank A/c 5,000
(Cash withdrawn from bank)
Voucher: F4: Contra

June 28 Drawings A/c Dr. 1,000

 To Cash A/c 1,000
(Cash withdrawn from bank for personal use
Voucher: F5: Payment

June 30 Hanif’s A/c Dr. 3,000

To Bank A/c 3,000
(Paid to Hanif by cheques)
Voucher: F5: Payment
Manual Accounting Vs Computerized Accounting

BASIS FOR MANUAL COMPUTERIZED

COMPARISON ACCOUNTING ACCOUNTING
Meaning Manual Accounting is a Computerized Accounting is an
system of accounting that accounting system that uses
uses physical registers and accounting software, for recording
account books, for keeping financial transactions
financial records. electronically.
Recording Recording is possible Data content is recorded in
through book of original customized database.
entry.
Calculation All the calculation is Only data input is required, the
performed manually. calculations are performed by
computer system.
Speed Slow Comparatively faster.
Adjusting entries It is made for rectification It cannot be made for rectification
of errors. of errors.
Backup Not possible Entries of transactions can be
saved and backed up
Trial Balance Prepared when necessary. Instant trial balance is provided on
daily basis.
Financial Statement It is prepared at the end of It is provided at the click of
the period, or quarter. button.

FINANCIAL STATEMENTS:

A financial statement is a written record of the position and financial activity of a business.

Financial statements are formal records of the financial activities and position of a business,
person, or other entity.

TYPES OF FINANCIAL STATEMENTS:

 Balance sheet
 Profit and loss account
 Cash flow statements (CFS)
  Balance sheet:
 Profit and loss account:
 Cash flow statements:

HOW TO PREPARE FINANCIAL STATEMENTS:

All the financial statements are prepared using the accounting transactions recorded in the
books of the accounts. Preparing financial statements is one of the outcomes of accounting
i.e. analyzing and interpreting the business transactions.

The following are the steps to prepare a financial statement:

 Recording transactions in a journal book

 Preparing ledger accounts
 Preparing trial balance summarizing the closing balance of ledger accounts
 Using trial balance, you need to prepare profit and loss account and balance sheet.

TRANSACTIONS:

A transaction in the business world refers to any event that can have an impact on the
finances of the companies involved.

FUNDAMENTALS OF TALLY
INTRODUCTION:

Tally is Accounting software, which is used in many types of Industries in the World. It is
developed by PEUTRONICS COMPANY INDIA PVT LTD, Which is situated in Bangalore,
India.

Tally is versatile (flexible) and massive (huge) software package. It is used by various types
of trade and industry. Tally Software business was set up in 1986 by late S.S. Goenkar, who
was the founder of the company Peutronics Private Limited, Bangalore. Tally is user friendly
software used to solve all the complicated accounting structure.

SALIENT FEATURES OF TALLY.ERP 9

1. Simple and Flexible: Tally.ERP 9 is simple to learn and flexible to use. It allows both
keyboard and mouse conventions for smooth and easy data entry.

2. Codeless Accounting: Tally.ERP 9 pioneered the ‘no accounting codes’ concept which
allows the user to maintain data in plain English (natural language interface).

3. Complete Business Solution: Tally.ERP 9 provides an integrated business solution for

accounting, inventory, sales, finance, purchasing, manufacturing, exercise and payroll extensive
with features to record, extract, display and print information effectively.

4. Integrated Accounting and Inventory: Tally.ERP 9 provides the facility to integrate

accounting and inventory information at any point of time for consolidated book keeping.

5. Speed and Power: Tally.ERP 9 is robust software which provides tremendous capability
to maintain multiple companies with unlimited levels of classification, generate reports with
high speed and accuracy and drill down to the transaction level at any point of time.

6. Concurrent multilingual Capability: Tally.ERP 9 allows you to record, view and print
information in any Indian languages.

7. Real time processing: Tally.ERP 9 helps to generate numerous reports and statements
instantly upon entering the transactions.

8. Versatility: Tally.ERP 9 is designed to handle multiple companies for multiple accounting

periods with multiple locations/branches.

9. Multiplatform Support: Tally.ERP 9 operates on various operating systems such as Windows

98/ME/NT/2000/2003/2008/XP and Windows 7.

10. Online help: Tally.ERP 9 is in built with online help mechanism which provides context
sensitive help on numerous product features and functionality.

11. Remote Access: Tally.ERP 9 provides the facility to remotely access the data from anywhere
anytime.
12. Central Account Management: Tally.ERP 9 allows you to centrally manage and configure
Tally.ERP 9 licenses at different locations, create and manage user information, create, publish jobs,
shortlist candidates and conduct recruitment test directly from the product interface.

TECHNOLOGICAL ADVANTAGES:
Main Advantages of Tally Accounting Software:

1. Good speed and reliability: It runs very fast at low configured system also. More than
70% of small businesses run this accounting software. It shows its reliability and quality.

2. Simple to use and operate: It is very easy to use Tally accounting software and it can be
used to increase productivity of an organization.

3. Tally 9 is featured for multi lingual platform and object oriented database: Tally's
support for the high power database, enables it to be used on multi user platform and make
easy transactions at multi user levels.

4. Complete business support: There are many features of Tally, which makes it very
strong software for supporting a business organization. You can have amazing control over
the data synchronization and multi-lingual features.

5. Navigation is easy: In Tally the module and forms can be viewed through drill down
display, where you can track the link between different modules and get the exact picture of
data flow.

GETTING FUNCTIONAL WITH TALLY.ERP 9

TALLY.ERP 9 START-UP:

Start Tally.ERP 9 using the following approaches:

 Click on Start - Programs - Tally.ERP 9 - Tally.ERP 9 icon.
 Double Click on the Tally.ERP 9 icon on the desktop.

The Tally.ERP 9 Start-up screen appears as:

Tally.ERP 9 Screen Components
 Title bar: Displays the version number, system date, time and the Tally.ERP 9 serial
Number.
 Gateway of Tally.ERP 9: Displays menus, screens, reports and accepts the choices and
options you select to view data as required.
 Calculator / ODBC server: Used for calculator functions and ODBC server functionality.
 Buttons toolbar: Displays buttons that provides quick interaction with Tally.ERP. Only
buttons relevant to current task will be visible.
 Minimize Buttons: Allowing you to minimize Tally.ERP and work on other applications.
 Switching between Screen Areas.
 When Tally.ERP 9 first loads, the Gateway of Tally.ERP 9 screen is displayed. To toggle
between this and the Calculator/ODBC server area at the bottom of the screen, press Ctrl +
N or Ctrl + M as indicated on the screen.

MOUSE / KEYBOARD CONVENTIONS:

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

MOUSE / KEYBOARD CONVENTIONS

Actions Particulars
Click Press the left mouse button.
Double-Click Press and release the left mouse button twice, without moving the
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 Position the mouse pointer on the item and double-click the left mouse
button.
Fn Press the function key
Fn Press ALT + function key
Fn Press CTRL + function key

The Tally.ERP Clock: While Tally.ERP processes data, a clock appears on the screen. It
indicates that the request being processed. Once this Clock disappears, perform the next
action.

Quitting Tally.ERP 9: To Quit working on Tally.ERP

 Press Esc until you see the message ‘Quit ? Yes or No’ ? Press Enter or Y, or click
on Yes to quit Tally.ERP.
 Alternatively, to exit without confirmation, press Ctrl+Q in the Gateway of Tally.ERP.
 You can also press Enter or Quit in the Gateway of Tally.ERP.

TALLY SCREEN COMPONENTS

The Gateway of Tally screen can be divided into 4 parts.

(1) Product Info (2) Work Area (3) Button Bar (4) Calculator

1. PRODUCT INFORMATION:
Product info displays information about Software Version & Release, Developer Company,
System Day and Date, Product brand Name, Single or multi user indicator, Software serial
number, and System time.
2. WORK AREA:

The work area at Gateway is broadly separated into two sections. The right hand side
contains the menu, where you would select your instructions to Tally and left hand side
displays List of Selected Companies, Current Period and Current Date you are working with
tally screen.

3. BUTTON BAR:

Button Bar consisting of numerous buttons appears at right of the screen. Buttons provide
quick access to different options, which varies from screen to screen. Active buttons are
shown in solid colour and inactive buttons are showed in grayed colour.

Invoking Buttons:

Alt : (Press Alt Key & character/function key with single underline)
Ctrl : (Press Ctrl key & character/function key with double underline)

4. CALCULATOR:

Working with Tally, at any moment you can either work at Work Area (where menu, reports
and entry screens etc appear) or with Calculator. By default work Area becomes active and
Calculator remains inactive. Press Ctrl+N to activate Calculator, to return to Work Area,
press Ctrl+M.

SELECTION OF MENU OPTION:

You can select a menu in either by pressing the highlighted character or up / Down arrow
key or Double click the mouse.

SETTING UP OF COMPANY

For each entity you create a profile which is termed as “COMPANY” in Tally.

CREATION OF COMPANY:

To create a company, select Create company option from company info menu that brings
company creation screen.

Now we are creating a company in Tally as follows –

Go to the Gateway of Tally > Company Info. > Create Company

Now company creation windows will appears. Type here the detailed Company Information
in the respective fields as displayed.

SELECTING PARTICULAR COMPANY:

In the button bar area you have the option F1: Select Cmp. button. Choose which company
you want to work.
 DELETE A PARTICULAR COMPANY:

To delete a company, press < Alt > + < D > in Alteration Mode (Company info, Alter), a
confirmation would be sought (Delete? Yes or No) click yes or press ‘Y’. As there is no
Undo process to revive the data.

SHUT A PARTICULAR COMPANY:

Shut company is the reverse process of Select Company. That means unloads the company
from memory using F1: Shut Cmp.

F11 & F12: FEATURES AND CONFIGURATION

F11: Features:

Different features of a company can be selected or modified by using the F11:

Features button. This button is available in almost all the screens of Tally.ERP 9 enabling
the user to modify it as and when your requirements change. F11: Company Features is
specific to the current company only. Therefore, each company may have different active
features.

F12: Configuration:

Configuration options affects all companies maintained in the same Tally.ERP 9 directory
and setting the configuration for one company will affect the configuration of other
companies in that particular data directory.
Go to Gateway of Tally > F11: Features & F12: Configuration