Transcript
UNIT 8: ACCOUNTING PACKAGE (Tally.ERP 9)
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Accounting Software
• It is a system that carries out mechanical operations in accounting process.
• It does not have any accounting knowledge.
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What is buying a software ?
• We actually never buy a software• Demo copy of all software is available free• We buy license to use the software
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Legal/Demo/Pirated Software
• Legal software - Full functional software without any restrictions.
• Demo Software - Used for demo purpose with all major features but with a very few restrictions.
• Pirated software - Cracked software, nearly full functional, but damaged.
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Demo / Educational Version
• This is a full functional software except a very few restrictions.
• This can be very well used for learning purpose.
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Software License
• License to use is to bought at the time of buying a software.
• This includes a unique Serial No. and a key for that particular serial number.
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Software Versions
• Version are used to differentiate same software according to stages of development.
• This is a totally new software with some major changes.
• E.g. Tally 4.5, 5.4, 6.3, 7.2, 8.1, 9, ERP9
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Software Release
• Releases are like editions of a book.• Software of same version with a new release
will be having minor changes.• Changes / updations are made in every software
on continuous basis. • Updations may be related to rectification of
mistakes, addition of new features, statutory changes, etc.
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Types of Licenses
• Single User • Multi User • In case of Tally, there is no limit on
number of users. • In some cases, licensing may be
according to the number of user, i.e. for every five users, or per user, etc.
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Comparison of software's pricesSoftware Single User
Rs. Multiuser
Rs.
Busy 11,880 29,770(Unlimited Users)
Miracle 13,500 27,000(Unlimited Users)
Focus 33,000 2,500 per user
Tally 13,500 40,500(Unlimited Users)
Wings 15,000 25,000 (five user)Rs. 10,000/five
users
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Classification of Features
• Compatibility Features• Operational Features• Accounting Features • Technical Features • MIS & Control Features
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What is Accounting Data ?
• Masters • Vouchers
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Masters
• Heads that are to be set only once. • This is the standing data. • Not expected to change frequently• Forms integral part of accounting data.
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Vouchers
• This is a place where transactions are recorded.
• This will contain links to masters.• This may include other information like
date, narration, quantitative details, reference, etc.
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How data is stored ?
• In masters, independently • In vouchers along with link to masters
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Types of Masters
• Accounting Masters • Inventory Masters • Payroll Masters • Statutory Masters
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Basic Menu Style
• Masters • Transactions • Reports • Configurations/Settings
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Masters
• Creation• Alteration – Group, Name, Contact
Details, • Deletion
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Vouchers
• Used only for entering transactions in software.
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Reports
• For viewing information• For alteration of transactions • For printing
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Accounting for Software
• Income • Expenditure
LiabilityLiability AssetAsset
DebitDebit CreditCredit
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Types of Accounts
• Personal
• Real
• Nominal
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Personal Accounts
Accounts representing persons or group of Accounts representing persons or group of personspersons
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Real Accounts
Accounts related with real things in Accounts related with real things in this world.this world.
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Nominal Accounts
All Income and Expenses Accounts
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Rules of Accounting
Type of Account Type of Account Debit Debit CreditCredit
Personal Personal The Receiver The Receiver The GiverThe Giver
Real Real What Comes InWhat Comes In What goes out What goes out
Nominal Nominal All Expenses & All Expenses & LossesLosses
All Incomes & All Incomes & Gains Gains
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Basic Question
• What do you mean by Debit ?
Any Guess ?
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Basic Question
• What do you mean by Debit ?
Left hand Side of a Ledger Account
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Flow of Accounting Understanding the Transaction
VoucherVoucher Entry Entry
Posting Posting
BalancingBalancing
Trial BalanceTrial Balance
P & L AccountP & L Account Balance SheetBalance Sheet29
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Structure of Accounting
Ledger Accounts
Income Income
CreditCredit DebitDebit
Liability Liability AssetAssetExpenditure Expenditure
Balance Sheet Balance Sheet
P & L AccountP & L Account
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Ledger Grouping
• Income Groups
• Liability Group
• Expenditure Groups
• Asset Group
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Profit & Loss Account Group
• Income :– Direct Income – Indirect Income – Sales Accounts
• Expenditure :– Direct Expenses– Indirect Expenses– Purchase Accounts
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Balance Sheet Group • Liabilities :
– Capital – Bank OCC/Bank OD– Current Liabilities– Duties & Taxes– Loans (Liability)– Provisions– Reserves & Surplus – Retained Earnings – Secured Loans– Sundry Creditors – Suspense– Unsecured Loans
• Assets :– Bank Accounts – Cash in Hand – Current Assets – Deposit (Assets)– Fixed Assets – Investments – Loans & Advances (Asset)– Misc. Expenses (Asset)– Sundry Debtors
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Why to learn Tally only ?
Tally is like Amitabh Bachchan
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Tally & Amitabh Bachchan
• Most popular • Most user friendly • Most versatile• Most reliable• Most punctual • 100% Indian
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Tally Versions
• Tally 4• Tally 4.5• Tally 5• Tally 5.4• Tally 6.3• Tally 7.2• Tally 8.1• Tally 9• Tally.ERP 9
Basic Accounting Basic Accounting Basic Accounting Basic Accounting Window Based Window Based Inventory Inventory Hardware LockHardware Lock VAT, Service Tax, TDSVAT, Service Tax, TDS Multilanguage, FBT, ExciseMultilanguage, FBT, Excise International Taxation, PayrollInternational Taxation, Payroll Excise for Manufacturers, Excise for Manufacturers,
Remote Login Remote Login 36
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Operating Systems
• Upto Tally 4.5, it was using DOS. • From Tally 5 onwards, all versions are
windows based.
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DOS & Windows
Feature DOS Windows
Speed More Less
Printing Cost More Less
Reliability More Less
User Friendliness Less More
Presentation Poor Excellent
Facilities Less More
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Software Giants in India
• TCS • Infosys • Wipro• Satyam
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Leaders in Generalised Accounting Softwares
• Tally (Tally India Pvt. Ltd., Bangalore)• Busy (Busy Infotech Pvt. Ltd., New Delhi)• Wings (Wings Infonet Ltd., Hyderabad)• Focus (Softline Software Services Pvt. Ltd.,
Hyderabad)• Miracle (R.K. Softwares, Rajkot)
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Company
• “Company” in Tally means any accounting unit.• It includes Limited Company, Partnership Firm,
Trust, Society, College, School, Proprietorship, etc.
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Voucher Types in Tally
• F4 : Contra• F5 : Payment • F6 : Receipt • F7 : Journal • F8 : Sales • F9 : Purchases
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F4 : Contra
• Cash deposited in bank • Cash withdrawn from bank• Cash to cash transfer• Bank to bank transfer
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F5 : Payment
• All types of payments are entered through this voucher type. (Cash and Bank)
• Debit item of a payment voucher shall be either Cash or Bank Account only.
• There can be two modes, Single Entry Mode or Double Entry Mode.
• Voucher can be with Dr. and Cr. or with To and By as prefixes.
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F6 : Receipt • There can be only two types of receipts. • Cash Receipt and Bank Receipt.• Both these receipts has to be entered here.• Debit item of Receipt Voucher will always be
either Bank or Cash• There can be two modes, Single Entry Mode
or Double Entry Mode.• Voucher can be with Dr. and Cr. or with To and
By as prefixes 45
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F7 : Journal
• This voucher is used for non cash transactions.• E.g. Depreciation, provisions, trasnfer entries,
purchase of fixed assets on credit. • Journal voucher should not be used for credit
sales or credit purchases.
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F8 : Sales
• This is used for cash sales as well as credit sales.
• There can be two modes, “As Invoice” or “As Voucher”.
• Party’s A/c Name means ledger to be Debited, write Cash in case of Cash Sales
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F9 : Purchases
• This voucher type is used for both types of purchases, Credit as well as Cash
• There can be two modes, “As Invoice” or “As Voucher”.
• Party’s A/c Name means ledger to be credited, Write Cash in case of Cash Purchases.
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Reports in Tally
• Balance Sheet • Profit & Loss Account • Ratio Analysis • Display
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Display
• Trial Balance • Day Book • Accounts Books• Statements of Accounts • Inventory Books • Statement of Inventory • Cash Flow • List of Accounts • Exception Reports
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Inventory Accounting in Tally
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What is Inventory ?
• Stock of items intended for sale in normal course of business.
• It includes Raw Material, WIP and Finished Goods
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What is Inventory Accounting ?
• Accounting of inventory related transactions.
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Need for Inventory Accounting
• Accounting Reason • Business Reason • Statutory Reason
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Types of transactions
• There can be two types of transactions in inventory accounting in any software.
• This includes inwards and outwards for any reasons.
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Concepts in Inventory Accounting
• Stock Item • Stock Group • Units of Measure • No. of Decimals • Godowns
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Stock Item
• Item of stock • Intended for sale or consumption in normal
course
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Stock Group
• Group of similar stock items • Cannot be sold or consumed
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Units of measure
• The unit in which stock item is to be measured
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Decimal Places
• Decimal places to be used along with a particular unit of measure.
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Godown
• Place where stock items are stored
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Warning !
• Units of measures once set, cannot be altered later on.
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Why units of measures cannot be altered later on?
Opening Stock
Add : Inwards
Less : Outwards
Closing Stock
10.00 Kg. 2.00 Ltr.
3.00 Km.
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How to select unit of measure ?
• Nature of stock item • Style of business
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Reports Available • Stock Item Transactions • Stock Group Summary• Stock Transfer Journal• Physical Stock Register • Sales Order Book• Purchase Order Book • Godown wise Stock • Category wise Stock
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Report Available ……..
• Movement Analysis– Stock Group Analysis – Stock Item Analysis – Group Analysis – Ledger Analysis– Transfer Analysis
• Ageing Analysis • Stock Query
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Reports Available ……….
• Cost Estimation • Sales Order Summary• Purchase Order Summaty• Reorder Status
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