1
IICS COMPUTER EDUCATION
IICS COMPUTER EDUCATION
TALLY ASSIGNMENT
UNIT -1
UNIT-1
2
IICS COMPUTER EDUCATION
Unit 1
Index
Company creation
Ledger creation
Company creation
UNIT-1
3
IICS COMPUTER EDUCATION
Ledger Creation
Assignment 1
S.NO LEDGER UNDER
1 Bank over Drafts A/c Bank OD A/c
2 SBI BANK ACCOUNT BANK ACCOUNT
3 PNB BANK ACCOUNT BANK ACCOUNT
4 ICICI BANK ACCOUNT BANK ACCOUNT
5 HDFC BANK ACCOUNT BANK ACCOUNT
6 AXIS BANK ACCOUNT BANK ACCOUNT
7 BANK OF BARODA ACCOUNT BANK ACCOUNT
8 UNION BANK ACCOUNT BANK ACCOUNT
9 THE-VAISH-CO -OP BANK ACCOUNT BANK ACCOUNT
10 ALLAHABAD BANK ACCOUNT BANK ACCOUNT
11 CANERA BANK ACCOUNT BANK ACCOUNT
12 DRAWING CAPITAL ACCOUNT
13 PETTY CASH CASH IN HAND
14 GOOD WILL CURRENT ASSET
15 OUTSTANDING CURRENT LIBILITIES
16 ADVANCE CURRENT LIBILITIES
17 WAGES DIRECT EXPENSES
18 FURNITURE FIXED ASSET
19 MACHINARY FIXED ASSET
20 COMPUTER FIXED ASSET
21 AIR CONDITION FIXED ASSET
22 CHAIR FIXED ASSET
23 BUILDING FIXED ASSET
24 VEHICLE FIXED ASSET
25 Scooter FIXED ASSET
26 Refrigerator FIXED ASSET
27 PRINTER FIXED ASSET
28 Photo State Machine Exp INDIRECT EXPENSES
29 Postage & Stamp Exp. INDIRECT EXPENSES
30 Maintenance of Computer System Exp. INDIRECT EXPENSES
31 SHOP RENT INDIRECT EXPENSES
UNIT-1
4
IICS COMPUTER EDUCATION
32 OFFICE RENT INDIRECT EXPENSES
33 COMMISION PAID INDIRECT EXPENSES
34 GENERAL EXPENSES INDIRECT EXPENSES
35 INSURANCE INDIRECT EXPENSES
36 SALARIES INDIRECT EXPENSES
37 FUEL AND POWER INDIRECT EXPENSES
38 COMMISION PAID INDIRECT EXPENSES
39 TELEPHONE BILL INDIRECT EXPENSES
40 ELECTRICITY INDIRECT EXPENSES
41 COMPANY TRAVELLING ACCOUNT INDIRECT EXPENSES
42 DEPRICIATION INDIRECT EXPENSES
43 VEHICLE REPAIR INDIRECT EXPENSES
44 Tea or Coffee Expenses INDIRECT EXPENSES
45 Stationery INDIRECT EXPENSES
46 Provision for Bad Debts INDIRECT EXPENSES
47 Donation INDIRECT EXPENSES
48 ADVERTISMENT INDIRECT EXPENSES
49 FACTORY INSURANCE INDIRECT EXPENSES
50 OFFICE LIGTING. INDIRECT EXPENSES
51 DONATION & CHARITY INDIRECT EXPENSES
52 INTEREST ON FIX DEPOSITS INDIRECT INCOME
53 RENT RECEIVED INDIRECT INCOME
54 COMISSION RECEIVED INDIRECT INCOME
55 INTREST RECEIVED INDIRECT INCOME
56 Shares / Bonds INVESTMENT
57 PURCHASE PURCHASE ACCOUNT
58 SALE SALE ACCOUNT
59 STOCK STOCK IN HAND
60 SUNDRY CREDITOR SUNDRY CREDITOR
61 SUNDRY DEBTOR SUNDRY CREDITOR
UNIT-1
5
IICS COMPUTER EDUCATION
Company Features
In Tally.ERP 9, you can enable and use the available features as required for your company. F11:
Features, when enabled or disabled, will apply to the current company only.
To enable company features
1. Go to Gateway of Tally > click F11: Features.
2. Select the required features in the Company Features menu.
3. Enable the required features.
4. Press Ctrl+A to accept.
Accounting Features
Using the Accounting Features, you can enable various options required for making transactions in
your business.
To enable the accounting features
1. Go to Gateway of Tally > F11: Features > F1: Accounts. The Company Operations Alteration
screen appears as shown below:
2. Enable the required options.
UNIT-1
6
IICS COMPUTER EDUCATION
3. Press Ctrl+A to accept.
If inventory vouchers and features are not appearing for your company, set the option Maintain accounts
only to No, to use the Inventory features.
General Accounting Features
Option Functionality Additional Information
Maintain accounts Enable this option if you do not
only? have any inventory transactions.
Enable this option to include the
stock or inventory balance from
the inventory records.
Stock records often contain
Provides a drill down to the compensating errors caused by wrong
Integrate accounts
stock registers from balance allocation to items. This feature enables
and inventory?
sheet. finalization of financial books without
waiting for the reconciliation of stocks.
Disable this option to maintain
accounts and inventory
separately.
Enable this option to display
Use Income and Income and expenses statements are
income and expenses a/c as the
Expenses A/c generally used for non-trading accounts
menu item instead of profit and
instead of Profit and profit and loss a/c are used for
loss a/c in the Gateway of
and Loss A/c? trading accounts.
Tally menu.
Enable this option to enable
Enable multi-
working with multiple
currency
currencies.
Outstanding Management Features
Option Functionality Additional Information
Enable this option to display the The reference number can then be
Maintain bill- option Maintain balances bill by bill in used to allocate payments to the
wise details? all ledgers created under sundry debtors correct invoice to maintain an
and creditors. accurate account of outstanding.
UNIT-1
7
IICS COMPUTER EDUCATION
When you enter details of sales and Bill wise details for non-trading
purchases with the bill wise option accounts is useful when one needs to
activated, Tally.ERP 9 prompts you to track either an installment to be paid
identify the invoice with an appropriate or a loan amount to be received over
reference number. a certain period of time.
The advanced parameters are useful
Activate Enable this option to calculate interest
when interest rates change from time
interest automatically based on the interest rate
to time. Set this option to Yes to
calculation? and style of calculation specified.
enable this function.
Cost/Profit Centres Management Features
Option Functionality
Enable this option to maintain payroll information in Tally.ERP 9 for
Maintain payroll?
the selected company.
Maintain cost centres? Enable this option to maintain and allocate expenses to cost centres.
Use cost center for job
Enable this option to track all income and expenses.
costing?
Maintain more than one
Enable this option to create more than one Payroll or Cost Category.
payroll or cost category?
Use pre-defined cost centre
Enable this option to define Cost Centre Allocations.
allocations in transactions?
Enable this option to display the opening balance in Cost Centre
Show opening balance for
report for the cost centres which are allocated to the ledgers, grouped
revenue items in reports?
under Income and Expenses Group.
Invoicing Features
Option Functionality
Enable this option to create Sales and Purchase vouchers in the
Enable invoicing?
invoice format.
Record purchases in invoice Enable this option to enable voucher class option in purchase
UNIT-1
8
IICS COMPUTER EDUCATION
mode? voucher type.
Enable this option to use the debit note and credit note voucher
Use debit and credit notes?
types.
Record credit notes in invoice
Enable this option to create credit notes in invoice mode.
mode?
Record debit notes in invoice
Enable this option to create debit notes in invoice mode.
mode?
Budgets & Scenario Management Features
Option Functionality
Maintain budgets Enable this option to create multiple budgets. The Budgets menu option is
and controls? displayed in Gateway of Tally > Masters Info. > Accounts Info. menu.
Use reversing Enable this option to display the Scenario option in Accounts Info menu.
journals and You can create and alter scenarios. You can record Reversing Journal and
optional vouchers? make it Optional for the entries to not affect the books.
Banking Features
Option Functionality
Enable cheque printing? Enable this option to use cheque printing.
Edit banking features? Enable this option to alter banking features.
Set/alter post-dated transaction Enable this option to record post-dated transactions and view
features? related reports.
Other Features
Option Functionality
Enable zero-valued
Enable this option to allow zero valued transactions in vouchers.
transactions?
Maintain multiple Enable this option to maintain multiple mailing details for
mailing details for your company and ledgers.
UNIT-1
9
IICS COMPUTER EDUCATION
company and ledgers?
Set/alter company
Enable this option to create or alter Address Types.
mailing details?
Enable this option to print the company logo on the selected vouchers,
reports, and invoices.
Specify the path of the logo image file in the field Location of logo. For
example, C:\Tally.ERP9\CompLogo.bmp. The company logo is printed
Enable company logo? on the top left of the respective voucher, report, or an invoice.
It is mandatory to save the logo as Bitmap or JPEG image file. Ensure
that the extensions.bmp / .jpg is specified while providing the location of
logo. The recommended size for logo image is 96 x 80 (Width x
Height) pixels.
Inventory Features
Using the Inventory Features , you can enable various options required for making transactions in your
business.
To enable the inventory features
1. Go to Gateway of Tally > F11: Features > F1: Inventory . The Company Operations
Alteration screen appears as shown below:
UNIT-1
10
IICS COMPUTER EDUCATION
2. Enable the required options.
3. Press Ctrl+A to accept.
General
Option Functionality Additional Information
Enable this option to
include the stock or
inventory balance from the
inventory records.
Stock records often contain compensating
Integrate
Provides a drill down to errors caused by wrong allocation to items. This
accounts and
the stock registers from feature enables finalization of financial books
inventory?
balance sheet. without waiting for the reconciliation of stocks.
Disable this option to
maintain accounts and
inventory separately.
Enable zero- Enable this option to allow
valued zero-valued transactions in
UNIT-1
11
IICS COMPUTER EDUCATION
transactions? Inventory vouchers.
Storage and Classification
Option Functionality
Maintain multiple Enable this option if you have more than one stock storage locations or
Godowns / Excise Units? godowns, and you want to track stock movement across these Locations.
Maintain stock
Enable this option to create and maintain stock categories
categories?
Enable this option to maintain batch information pertaining to Stock
Maintain batch-wise
Items. A new field Maintain in Batches is displayed in the Stock Item
details?
Creation screen.
Set expiry dates for Enable this option to set expiry dates for the batches. This displays an
batches? additional field Use Expiry Dates in the Stock Item Creation screen.
Use separate actual and Enable this option to specify quantities, that are different from those
billed quantity columns? delivered/ received, when invoicing.
Order Processing
Option Functionality
Enable purchase order Enable this option to create purchase orders. This feature can also be
processing? used for pre-closure of purchase order.
Enable sales order
Enable this option to create sales orders.
processing?
Enable job order
Enable this option to create job work out or in orders.
processing?
Invoicing
Option Functionality
Enable this option to create Sales and Purchase vouchers in the
Enable invoicing?
invoice format.
Record purchases in invoice Enable this option to enable voucher class option in purchase
UNIT-1
12
IICS COMPUTER EDUCATION
mode? voucher type.
Enable this option to use the debit note and credit note voucher
Use debit and credit notes?
types.
Record credit notes in invoice
Enable this option to create credit notes in invoice mode.
mode?
Record debit notes in invoice
Enable this option to create debit notes in invoice mode.
mode?
Purchase Management
Option Functionality
Track additional costs Enable this option to obtain a break-up of purchase costs, without the
of purchase? need to separately debit ledger accounts for expenses.
Sales Management
Option Functionality
Use multiple price levels? Enable this option to create multiple price levels.
Other Features
Option Functionality
Enable this option to use tracking numbers to maintain the
Use tracking numbers (enables
relation between delivery notes and invoices. This is available
delivery and receipt notes)?
for both purchases and sales.
Use rejection inward and Enable this option to record rejection of goods separately and
outward notes? not through a common debit note or credit note.
Enable this option to record transfer of item quantity towards
Use material in and out
the party and transfer material from one Godown (Location) to
vouchers?
the other.
Use cost tracking for stock item? Enable this option to create credit notes in invoice mode.
Record debit notes in invoice Enable this option to analyse the cost involved for an item.
UNIT-1
13
IICS COMPUTER EDUCATION
mode?
Statutory & Taxation Features
This feature enables you to set the Statutory Features required for the Company
Operations. This option is enabled only if a country is selected from the list of
countries under the field Statutory Compliance for in the Company Creation
screen..
Go to Gateway of Tally.ERP> F11: Features > F3: Statutory & Taxation
The following features are available on selecting India in the Company Creation
screen.
1. Enable Dealer – Excise (Set/Alter Dealer – Excise Details)
Set these options to Yes, to enable/alter the Excise for Dealers feature. Refer
Excise for Dealers for further information.
Follow Excise rules for Invoicing
Set this option to Yes, to follow Excise rules for invoicing. The Company Excise
Details screen is displayed as shown:
Provide the above Excise information, for it to be printed on invoices and Accept,
UNIT-1
14
IICS COMPUTER EDUCATION
Yes to save.
2. Enable Value Added Tax (VAT)
Set/Alter VAT Details
Set these option to Yes, to enable the VAT features for the company. Refer Value
Added Tax for more details.
3. Enable Service Tax
Set/Alter Service Tax Details
Set these option to Yes to enable the Service Tax features for the company. Refer
Service Tax for further details.
4. Enable Tax Deducted at Source (TDS)
Enable TDS: This is one of the unique features of Tally.ERP 9. This facility will
allow you to deduct Income Tax at source (TDS) on behalf of the government as
per specified rates in the IT Act on specified types of services, Incomes, gains and
would deposit it into the accounts of respective authorities on behalf of the
service provider.
Example: If your Company paid Rs.2,00,000 /- as Professional and Technical Fees
to N.Jatania& Co for their consultancy services, it is your duty to deduct the Income
Tax and pay the collected tax to the respective authorities. If you record the
transaction the entry will appear as shown below :
(before carrying on with this transaction you should know the Income Tax Rules as
to where TDS will be deducted and at what rate.)
5. Enable Tax Collected at Source (TCS)
Set/Alter TCS Details
Set these option to Yes to enable the TCS features for the company. Refer TCS for
further details.
6. Enable Fringe Benefit Tax (FBT)
UNIT-1
15
IICS COMPUTER EDUCATION
Set/Alter FBT Details
Set these option to Yes to enable the FBT features for the company. Refer FBT for
further details.
UNIT-1
