Tally tutor 2

TallyTally

Accounting PackageAccounting Package

UNIT UNIT -- 22

Objectives of this sessionObjectives of this session

�� Creating AccountsCreating Accounts

�� Gateway of TallyGateway of Tally

�� GroupsGroups

�� LedgersLedgers

�� Exercise Exercise

Creating AccountsCreating Accounts

Once the company has been created the next step is to Once the company has been created the next step is to

open the accounts. This can be done as follows:open the accounts. This can be done as follows:

�� Select a company from the list of companies created Select a company from the list of companies created

above.above.

�� Gateway of Tally window appears Gateway of Tally window appears

Creating AccountsCreating AccountsGGateway of Tally window appears as shown below:ateway of Tally window appears as shown below:

The above listed options can be chosen either by mouse click or The above listed options can be chosen either by mouse click or by pressing Bold and Capital Key of respective field such as if by pressing Bold and Capital Key of respective field such as if you you wants to choose Balance Sheet from Report Section only press B wants to choose Balance Sheet from Report Section only press B from your key board. from your key board.

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Gateway of TallyGateway of TallySelect Select Account InfoAccount Info option from the gateway of Tally. option from the gateway of Tally.

The The ‘‘Account InfoAccount Info’’ option available under the title option available under the title

‘‘Gateway of TallyGateway of Tally’’. The . The ‘‘Account InfoAccount Info’’ window contain window contain

the options :the options :

1. Groups, 2. Ledgers, and 3. Voucher Types1. Groups, 2. Ledgers, and 3. Voucher Types. .

Account Info Account Info -- GroupGroupIt creates a group for accounts. It creates a group for accounts.

Go for the following steps to create a group.Go for the following steps to create a group.

�� Press Press GroupsGroups to create group for accounts to create group for accounts

�� Select Select CreateCreate and press and press EnterEnter. .

Create Create -- GroupGroupTally has 28 preTally has 28 pre--defined Groups available for us, which defined Groups available for us, which

cannot be altered. Out of the 28 Groups 15 are primary cannot be altered. Out of the 28 Groups 15 are primary

and 13 are secondary or suband 13 are secondary or sub--groups. We can create groups. We can create

Groups of our choice also.Groups of our choice also.

Create Create -- GroupGroup

These groups would be shown to you at the time of These groups would be shown to you at the time of creating an account to ask you under which Group the creating an account to ask you under which Group the new account would be listed.new account would be listed.

Option Option DisplayDisplay helps the user in displaying (only) any helps the user in displaying (only) any Group on the screen.Group on the screen.

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To change any information in Group, select the option To change any information in Group, select the option ‘‘Alter Alter ’’. It can change the name of any Reserved Group. . It can change the name of any Reserved Group. But its characteristics will remain the same. But its characteristics will remain the same.

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To delete a group, only press To delete a group, only press ‘‘ Alt+DAlt+D ’’. .

Your confirmation would be sought from you before Your confirmation would be sought from you before permanent deletion. permanent deletion.

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LedgerLedger

These are actual account heads to which the transactions These are actual account heads to which the transactions are identified. are identified.

All voucher entries are made in this account. All voucher entries are made in this account.

But all ledgers must be grouped.But all ledgers must be grouped.

Creating a LedgerCreating a Ledger

Select Select ‘‘LedgersLedgers’’ of the of the ‘‘Account InfoAccount Info’’ from the from the ‘‘Gateway Gateway of Tallyof Tally’’. .


Select Select ‘‘CreateCreate’’. .

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Fill all the required information such as: Fill all the required information such as:

�� NameName

�� Alias (Second Optional Name of the Ledger)Alias (Second Optional Name of the Ledger)

�� Under (Group Name)Under (Group Name)

�� Opening Balance (will be Zero for new company)Opening Balance (will be Zero for new company)

�� Mailing & Related Details Mailing & Related Details

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You can display any ledger account on the screen by You can display any ledger account on the screen by selecting selecting ‘‘ Display Display ’’ from the menu. from the menu.

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‘‘AlterationAlteration’’ of Account allows you to change information of Account allows you to change information in account format. You can also change the name of any in account format. You can also change the name of any group, but cannot change its characteristics.group, but cannot change its characteristics.

You can delete a ledger by pressing You can delete a ledger by pressing ‘‘Alt+DAlt+D’’ in the in the ‘‘Ledger Ledger AlterationAlteration’’ screen. screen.

Your confirmation would be sought before permanent Your confirmation would be sought before permanent deletion.deletion.

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ExerciseExerciseLet us create the ledger of the following transactions. Let us create the ledger of the following transactions.

200200Paid Salary Paid Salary ---- 3030

100100Paid Rent Paid Rent ---- 3030

300300Received cash from Received cash from RameshRamesh---- 2828

300300Goods sold on credit to Goods sold on credit to RameshRamesh---- 2424

600600Goods sold to M/s Ram & Co. for cashGoods sold to M/s Ram & Co. for cash---- 1616

10001000Purchased goods from M/s Ram Purchased goods from M/s Ram NarainNarain on credit on credit ---- 88

400400Purchased goods for CashPurchased goods for Cash---- 55

200200Furniture purchased for Cash Furniture purchased for Cash ---- 33

500500Deposit in the BankDeposit in the Bank---- 22

50005000Mohan started business with CashMohan started business with CashApril 1April 1

Amount (Rs.)Amount (Rs.)ParticularsParticulars20042004

ExerciseExercise

In the first transaction we have two accounts In the first transaction we have two accounts -- one is Real, one is Real,

Cash Account, and the other is Personal, RamCash Account, and the other is Personal, Ram’’s Capital s Capital

Account, so there is a need to open two ledgers but the Account, so there is a need to open two ledgers but the

cash ledger is already available by default, so now there is cash ledger is already available by default, so now there is

a need only to open second ledger.a need only to open second ledger.

ExerciseExerciseSteps:Steps:

1.1. Come to Come to ‘‘Gateway of TallyGateway of Tally’’

2.2. Select Select ‘‘Accounts InfoAccounts Info’’

3.3. Select LedgersSelect Ledgers

4.4. Select CreateSelect Create

5.5. Type Type ‘‘RamRam’’s Capital Accounts Capital Account’’

6.6. Press <Enter>Press <Enter>

7.7. Select Capital account option from the Select Capital account option from the ‘‘List of GroupsList of Groups’’under option under option ‘‘UnderUnder’’..

8.8. Press <Enter> and select No as the capital never affect Press <Enter> and select No as the capital never affect inventory.inventory.

9.9. Press Press ‘‘YY’’ for acceptance.for acceptance.

ExerciseExercise

Ledger RamLedger Ram’’s Capital Account created.s Capital Account created.

ExerciseExercise

In the second transaction, we have two accounts one is In the second transaction, we have two accounts one is

Real, Cash Account, and the other is Personal, Bank Real, Cash Account, and the other is Personal, Bank

Account, so there is a need to open only one ledger Account, so there is a need to open only one ledger

named Bank. named Bank.




3.3. Select Select ‘‘LedgersLedgers’’

4.4. Select Select ‘‘CreateCreate’’

5.5. Type Type ‘‘BankBank’’


7.7. Select Bank Account option from the Select Bank Account option from the ‘‘List of GroupsList of Groups’’ under option under option ‘‘UnderUnder’’..

8.8. Press <Enter> and select No as it will never affect Inventory.Press <Enter> and select No as it will never affect Inventory.

9.9. Enter the Opening Balance of the bank.Enter the Opening Balance of the bank.

10.10. Enter Name and Address of the BankEnter Name and Address of the Bank


ExerciseExercise

Ledger Bank Account created.Ledger Bank Account created.

ExerciseExercise

In the third transaction we have two Real accounts, one is In the third transaction we have two Real accounts, one is

Cash Account and other is Furniture Account, so there is Cash Account and other is Furniture Account, so there is

a need to open only one ledger named Furniture. a need to open only one ledger named Furniture.






5.5. Type Type ‘‘FurnitureFurniture’’


7.7. Select Fixed Assets option from the Select Fixed Assets option from the ‘‘List of GroupsList of Groups’’under option under option ‘‘UnderUnder’’..

8.8. Press <Enter> and select Yes as it will affect inventory.Press <Enter> and select Yes as it will affect inventory.


ExerciseExercise

In the fourth and fifth transactions we have two Real In the fourth and fifth transactions we have two Real

accounts, one is Cash Account and the other is Purchase accounts, one is Cash Account and the other is Purchase

Account and one Personal account, M/Account and one Personal account, M/s.Rams.Ram NarainNarain, so , so

there is a need to open two ledgers :there is a need to open two ledgers :

�� Purchase AccountPurchase Account

�� M/s Ram M/s Ram NarainNarain AccountAccount






5.5. Type Type ‘‘PurchasePurchase’’


7.7. Select Purchase Account option from the Select Purchase Account option from the ‘‘List of GroupsList of Groups’’ under option under option ‘‘UnderUnder’’..

8.8. Press <enter> and select Yes as it will affect inventory.Press <enter> and select Yes as it will affect inventory.


10.10. Press < enter> a new empty window of ledger creation will appearPress < enter> a new empty window of ledger creation will appear

11.11. Type M/s. Ram Type M/s. Ram NarainNarain


13.13. Select Sundry Creditors Account option from the Select Sundry Creditors Account option from the ‘‘List of GroupsList of Groups’’ under option under option ‘‘UnderUnder’’..

14.14. Press <enter> and select No as the capital never affect inventorPress <enter> and select No as the capital never affect inventory.y.

15.15. Enter Name and Address of the M/s. Ram Enter Name and Address of the M/s. Ram NarainNarain..


ExerciseExercise

In the sixth and seventh transactions we have two In the sixth and seventh transactions we have two

Personal accounts, one is M/s. Ram and Company and Personal accounts, one is M/s. Ram and Company and

the other is the other is RameshRamesh, and one Real account, cash, so there , and one Real account, cash, so there

is a need to open only two Ledgers of Personal Accounts. is a need to open only two Ledgers of Personal Accounts.






5.5. Type Type ‘‘M/s. Ram and CompanyM/s. Ram and Company’’


7.7. Select Sundry Debtors option from the Select Sundry Debtors option from the ‘‘List of GroupsList of Groups’’ under option under option ‘‘UnderUnder’’..

8.8. Press <Enter> and select No as it will not affect inventory.Press <Enter> and select No as it will not affect inventory.

9.9. Enter Name and Address of Enter Name and Address of RameshRamesh..


11.11. Press < enter> a new empty window of ledger creation will appearPress < enter> a new empty window of ledger creation will appear

12.12. Type Type RameshRamesh


14.14. Select Sundry Debtors option from the Select Sundry Debtors option from the ‘‘List of GroupsList of Groups’’ under option under option ‘‘UnderUnder’’..

15.15. Press <Enter> and select No as it will not affect inventory.Press <Enter> and select No as it will not affect inventory.

16.16. Enter Name and Address of the Enter Name and Address of the RameshRamesh..


ExerciseExercise

Ledger Ledger RameshRamesh Account created.Account created.

ExerciseExercise

In the eighth transaction we have one Personal accounts, In the eighth transaction we have one Personal accounts,

RameshRamesh Account, and one Real account, cash.Account, and one Real account, cash.

Both the Ledgers are already created. Both the Ledgers are already created.

ExerciseExercise

In the ninth and tenth transactions we have two Nominal In the ninth and tenth transactions we have two Nominal

Accounts, Rent Account and Salary Account, and one Accounts, Rent Account and Salary Account, and one

Real Account, Cash Account, so there is a need to open Real Account, Cash Account, so there is a need to open

only two Ledgers of Nominal Accounts. only two Ledgers of Nominal Accounts.






5.5. Type Type ‘‘RentRent’’


7.7. Select Indirect Expenses option from the Select Indirect Expenses option from the ‘‘List of GroupsList of Groups’’under option under option ‘‘UnderUnder’’..

8.8. Press <Enter> and select No as it will never affect Press <Enter> and select No as it will never affect inventory.inventory.


ExerciseExercise

Ledger Rent Account created.Ledger Rent Account created.


1.1. Press < enter> a new empty window of ledger creation Press < enter> a new empty window of ledger creation

will appearwill appear

2.2. Type SalaryType Salary


4.4. Select Indirect expenses option from the Select Indirect expenses option from the ‘‘List of GroupsList of Groups’’

under option under option ‘‘UnderUnder’’..

5.5. Press <Enter> and select No as it will not affect Press <Enter> and select No as it will not affect

inventory.inventory.


ExerciseExercise

Ledger Salary Account created.Ledger Salary Account created.

Thank YouThank You

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Tally tutor 2

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