TallyEssential

Overview of the course

This book from the house of Tally, India’s leading business management software solution company,
is a comprehensive book for the TallyEssential certification program. The content is created in our
new product ‘TallyPrime’ with the objectives of Simplify the Simplest, Greater Flexibility and New
Look and Feel.
TallyEssential is the Basic to Intermediate level certification with 3 levels and certifies a learner's skill
in Computerized Accounting on TallyPrime. This certification assists learners to become job-ready
and opens up multiple career options. Learners with these certificates will be recognized as being
proficient in the principles of accounting through TallyPrime and are recommended for learners who
aspire to build a successful career in Computerised Accounting, Finance and Administration.

Release Notes for Product Release 4.1

Product Version: 4.1
Launch Month/Year: April 2024
TallyPrime Release 4.1

Always upgrade to the latest release of content to enjoy the benefits of updated content.

Highlights
a) This book is updated to TallyPrime Release 4.1 with an addendum in TallyEssential Level 1,
TallyEssential Level 2, TallyEssential Level 3, and TallyEssential Comprehensive.
b) This update is available only in Digital Content, not in the Physical Book.
c) The provision to update the MSME Udyam number for a company and its MSME suppliers is
introduced in TallyPrime Release 4.1.

Table of Content
TallyEssential Level 1 35 Hours
Chapter 1: Fundamentals of Accounting 4
Chapter 2: Introduction to TallyPrime 3
Chapter 3: Maintaining Chart of Accounts 5
Chapter 4: Recording and Maintaining Accounting Transactions 6
Chapter 5: Banking 6
Chapter 6: Generating Financial Statements and MIS Reports 2
Chapter 7: Data Security 2
Chapter 8: Company Data Management 2
Chapter 9: Goods and Services Tax 3
Addendum to TallyPrime Release 3.0 1
Addendum to TallyPrime Release 4.0 1
Addendum to TallyPrime Release 4.1 1
1.1 Getting Started with Registered MSME Businesses

1
 TallyEssential Level 2 35 Hours
Chapter 1: Storage and Classification of Inventory 4
Chapter 2: Accounts Receivable and Payable Management 6
Chapter 3: Purchase and Sales Order Management 6
Chapter 4: Tracking Additional Costs of Purchase 2
Chapter 5: Cost/Profit Centres Management 4
Chapter 6: Budgets and Scenarios 4
Chapter 7: Generating and Printing Reports 4
Chapter 8: Goods and Services Tax 3
Addendum to TallyPrime Release 4.1 1
1.1 Getting Started with Registered MSME Businesses

TallyEssential Level 3 36
Chapter 1: Goods and Services Tax 14
Chapter 2: Tax Deducted at Source 10
Chapter 3: Management of Business Data 4
Chapter 4: Moving to the Next Financial Year 4
TallyEssential Addendum on Release 1.1.4 1
TallyEssential Addendum on Release 2.0 1
Addendum to TallyPrime Release 3.0 1
Addendum to TallyPrime Release 4.0 1
Addendum to TallyPrime Release 4.1 1
Getting Started with Registered MSME Businesses

------------------------------------------------------*********-------------------------------------------------------------

Release Notes for Product Release 4.0

Product Version: 4.0
Launch Month/Year: December 2023
TallyPrime Release 4.0

Always upgrade to the latest release of content to enjoy the benefits of updated content.

Highlights
d) This book is updated to TallyPrime Release 4.0 with an addendum in TallyEssential Level 1,
TallyEssential Level 3, and TallyEssential Comprehensive.
e) This update is available only in Digital Content, not in the Physical Book.
f) Introduced Intuitive and Powerful Company Dashboard (Analyze Business Information and
Data Trends), Import Excel Data to TallyPrime (Including Masters and Transactions), and
TallyPrime with WhatsApp for Business ( To send documents and invoices).

2
Table of Content
TallyEssential Level 1 35 Hours
Chapter 1: Fundamentals of Accounting 4
Chapter 2: Introduction to TallyPrime 3
Chapter 3: Maintaining Chart of Accounts 5
Chapter 4: Recording and Maintaining Accounting Transactions 6
Chapter 5: Banking 6
Chapter 6: Generating Financial Statements and MIS Reports 2
Chapter 7: Data Security 2
Chapter 8: Company Data Management 2
Chapter 9: Goods and Services Tax 3
Addendum to TallyPrime Release 3.0 1
Addendum to TallyPrime Release 4.0 1
1.2 Intuitive and Powerful Company Dashboard

TallyEssential Level 3 36
Chapter 1: Goods and Services Tax 14
Chapter 2: Tax Deducted at Source 10
Chapter 3: Management of Business Data 4
Chapter 4: Moving to the Next Financial Year 4
TallyEssential Addendum on Release 1.1.4 1
TallyEssential Addendum on Release 2.0 1
Addendum to TallyPrime Release 3.0 1
Addendum to TallyPrime Release 4.0 1
1.1 Intuitive and Powerful Company Dashboard
1.2 Import Excel Data to TallyPrime
1.3 TallyPrime with WhatsApp for Business

------------------------------------------------------*********-------------------------------------------------------------

Release Notes for Product Release 3.1

Product Version: 3.1
Launch Month/Year: August 2023
TallyPrime Release 3.0.1

Always upgrade to the latest release of content to enjoy the benefits of updated content.

Highlights
a) This book is updated with changes threshold limit changes on GST e-Invoice in TallyEssential
Level 3.
b) The new date of mandatory implementation of e-invoice for annual turnover 5 Crore
effective from 1st August 2023 is updated.
c) This update is available only in Digital Content, not in the Physical Book.

------------------------------------------------------*********-------------------------------------------------------------

3
Release Notes for Product Release 3.0
Product Version: 3.0
Launch Month/Year: June 2023
TallyPrime Release 3.0

Always upgrade to the latest release of content to enjoy the benefits of updated content.

Highlights
g) This book is updated to TallyPrime Release 3.0 with an addendum in TallyEssential Level 1
and TallyEssential Level 3.
h) This update is available only in Digital Content, not in the Physical Book.
i) Introduced Payment Requests through Payment Gateways, Report Filters to Quickly Access
Business Information, Data Migration, Handling Multiple GST Registrations in a Single
Company, and GSTR Reports Reconciliation.

Table of Content
TallyEssential Level 1 35 Hours
Chapter 1: Fundamentals of Accounting 5
Chapter 2: Introduction to TallyPrime 3
Chapter 3: Maintaining Chart of Accounts 5
Chapter 4: Recording and Maintaining Accounting Transactions 6
Chapter 5: Banking 6
Chapter 6: Generating Financial Statements and MIS Reports 2
Chapter 7: Data Security 2
Chapter 8: Company Data Management 2
Chapter 9: Goods and Services Tax 3
Addendum to TallyPrime Release 3.0 1
1.1 Payment Request through Payment Gateways
1.2 Report Filters to Quickly Access Business Information
1.3 Data Migration

TallyEssential Level 3 36
Recap of Level 2 1
Chapter 1: Goods and Services Tax 14
Chapter 2: Tax Deducted at Source 10
Chapter 3: Management of Business Data 4
Chapter 4: Moving to the Next Financial Year 4
TallyEssential Addendum on Release 1.1.4 1
TallyEssential Addendum on Release 2.0 1
1.1 Connected and Complete E-Way bill System in TallyPrime
1.2 Save View of Business Reports in TallyPrime
Addendum to TallyPrime Release 3.0 1
1.1 Handling Multiple GST Registrations in a Single Company
1.2 GSTR Reports Reconciliation

------------------------------------------------------*********-------------------------------------------------------------

4
Release Notes for Product Release 2.3
Product Version: 2.3
Launch Month/Year: October 2022
TallyPrime Release 2.1
Always upgrade to the latest release of content to enjoy the benefits of updated content.

Highlights
a) This book is updated with an addendum on GST e-invoice in TallyEssential Level 3.
b) The new date of mandatory implementation of e-invoice for annual turnover 10 Crore
effective from 1st October 2022 is updated as an addendum.
c) This addendum includes business scenarios for generating GST e-invoices in a business.
d) This update is available only in Digital Content, not in the Physical Book.

------------------------------------------------------*********-------------------------------------------------------------

Release Notes for Product Release 2.2

Product Version: 2.2
Launch Month/Year: April 2022
TallyPrime Release 2.0

Always upgrade to the latest release of content to enjoy the benefits of updated content.

Highlights
a) This book is updated with an update on GST e-Invoice in TallyEssential Level 3.
b) The new date of mandatory implementation of e-invoice for annual turnover 20 Crore
effective from 1st April 2022 is updated as a Note.
c) This update is available only in Digital Content, not in the Physical Book.

------------------------------------------------------*********-------------------------------------------------------------

Release Notes for Product Release 2.1

Product Version: 2.1
Launch Month/Year: October 2021
TallyPrime Release 2.0

Highlights
a) TallyEssential Level 1 is created with 9 chapters adding GST basics.
b) TallyEssential Level 2 is created with 8 chapters adding GST basics.
c) TallyEssential Level 2 is updated with minor changes received through market feedback.

Table of Content
TallyEssential Level 1 35 Hours
Chapter 1: Fundamentals of Accounting 5
Chapter 2: Introduction to TallyPrime 3
Chapter 3: Maintaining Chart of Accounts 5

5
 Chapter 4: Recording and Maintaining Accounting Transactions 6
Chapter 5: Banking 6
Chapter 6: Generating Financial Statements and MIS Reports 2
Chapter 7: Data Security 2
Chapter 8: Company Data Management 2
Chapter 9: Goods and Services Tax 3
Business Case Studies-1 1

TallyEssential Level 2 35 Hours

Recap of Level 1 1
Chapter 1: Storage and Classification of Inventory 4
Chapter 2: Accounts Receivable and Payable Management 6
Chapter 3: Purchase and Sales Order Management 6
Chapter 4: Tracking Additional Costs of Purchase 2
Chapter 5: Cost/Profit Centres Management 4
Chapter 6: Budgets and Scenarios 4
Chapter 7: Generating and Printing Reports 4
Chapter 8: Goods and Services Tax 3
Business Case Studies-2 1

TallyEssential Level 3 36
Recap of Level 2 1
Chapter 1: Goods and Services Tax 14
Chapter 2: Tax Deducted at Source 10
Chapter 3: Management of Business Data 4
Chapter 4: Moving to the Next Financial Year 4
TallyEssential Addendum on Release 1.1.4 1
TallyEssential Addendum on Release 2.0 1
Business Case Studies-3 1

------------------------------------------------------*********-------------------------------------------------------------

Release Notes for Product Release 2.0

Product Version: 2.0
Launch Month/Year: July 2021
TallyPrime Release 2.0

Highlights
a) This book is updated to TallyPrime Release 2.0 with an addendum in TallyEssential Level 3.
b) This update is available only in Digital Content, not in the Physical Book.
c) Introduced Connected and Complete E-Way bill System mechanism in TallyPrime, and Save
View of Business Reports.

6
Table of Content
TallyEssential Level 3 36
Recap of Level 2 1
Chapter 1: Goods and Services Tax 14
Chapter 2: Tax Deducted at Source 10
Chapter 3: Management of Business Data 4
Chapter 4: Moving to the Next Financial Year 4
TallyEssential Addendum on Release 1.1.4 1
TallyEssential Addendum on Release 2.0 1
1.1 Connected and Complete E-Way bill System in TallyPrime
1.2 Save View of Business Reports in TallyPrime
Business Case Studies-3 1

------------------------------------------------------*********-------------------------------------------------------------

Release Notes for Product Release 1.1

Product Version: 1.1
Launch Month/Year: May 2021
TallyPrime Release 1.1.4

Highlights
a) This book is updated to TallyPrime Release 1.1.4 with an addendum in TallyEssential Level 3.
b) This update is available only in Digital Content, not in the Physical Book.
c) Introduced e-Invoice Sandbox experience in the content, easy access to Tax Analysis and
Stock Query, Print and export changes, and day-wise breakup view in ledger reports.

Table of Content
TallyEssential Level 3 36
Recap of Level 2 1
Chapter 1: Goods and Services Tax 14
Chapter 2: Tax Deducted at Source 10
Chapter 3: Management of Business Data 4
Chapter 4: Moving to the Next Financial Year 4
TallyEssential Addendum on Release 1.1.4 1
1.1 Introduction to e-Invoice Sandbox Experience
1.2 Quick access to Tax Analysis and Stock Query
1.3 Enhanced Print, and Export Experience
1.4 Day-Wise Breakup for Ledgers
Business Case Studies-3 2

------------------------------------------------------*********-------------------------------------------------------------

7
Release Notes for Product Release 1.0
Product Version: 1.0
Launch Month/Year: February 2021
TallyPrime Release 1.1.1
Always upgrade to the latest release of content to enjoy the benefits of updated content.

The content is created in our new product ‘TallyPrime’ with the objectives of Simplify the Simplest,
Greater Flexibility and New Look and Feel. The book is enriched with numerous real business
scenarios, screenshots, observations, solved illustrations, and practice scenarios to help the learners
experience the simplicity and the power of technology in working on TallyPrime. Upon solving these
live business scenarios, the learner will be able to understand the intricacies of business operations
and be equipped to easily handle such transactions in the daily work environment.

Highlights
a) This book is developed in TallyPrime Release 1.1.1
b) Helps you perform basic to Intermediate accounting, inventory and basic taxation (GST, TDS)
and simplify company books of account.
c) TallyEssential Level 1 is created for the job role of Accounts Executive (Recording &
Reporting) with 8 chapters.
d) TallyEssential Level 2 is created for the job role of Accounts Executive (Accounts Payable and
Receivable) with 7 chapters.
e) TallyEssential Level 3 is created for the job role of Accounts Assistant ( GST), and Accounts
Executive (Statutory Compliance) with 4 chapters which include GST and TDS.

Table of Content
TallyEssential Level 1 35 Hours
Chapter 1: Fundamentals of Accounting 5
Chapter 2: Introduction to TallyPrime 3
Chapter 3: Maintaining Chart of Accounts 5
Chapter 4: Recording and Maintaining Accounting Transactions 6
Chapter 5: Banking 6
Chapter 6: Generating Financial Statements and MIS Reports 2
Chapter 7: Data Security 2
Chapter 8: Company Data Management 2
Business Case Studies-1 4

TallyEssential Level 2 35 Hours

Recap of Level 1 1
Chapter 1: Storage and Classification of Inventory 4
Chapter 2: Accounts Receivable and Payable Management 6
Chapter 3: Purchase and Sales Order Management 6
Chapter 4: Tracking Additional Costs of Purchase 2
Chapter 5: Cost/Profit Centres Management 4
Chapter 6: Budgets and Scenarios 4
Chapter 7: Generating and Printing Reports 4
Business Case Studies-2 4

8
 TallyEssential Level 3 36
Recap of Level 2 1
Chapter 1: Goods and Services Tax 14
Chapter 2: Tax Deducted at Source 10
Chapter 3: Management of Business Data 4
Chapter 4: Moving to the Next Financial Year 4
Business Case Studies-3 3

------------------------------------------------------*********-------------------------------------------------------------