TallyTallyAccounting Accounting

PackagePackageUNIT - 2UNIT - 2

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 Once the company has been created the next step is to open the the next step is to open the accounts. This can be done as accounts. This can be done as follows:follows:

Select a company from the list of Select a company from the list of companies created above.companies created above.

Gateway of Tally window appears Gateway of Tally window appears

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

The above listed options can be chosen either by The above listed options can be chosen either by mouse click or by pressing Bold and Capital Key of mouse click or by pressing Bold and Capital Key of respective field such as if you wants to choose respective field such as if you wants to choose Balance Sheet from Report Section only press B 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 option from the gateway of Tally. The ‘Account Info’ option available under Tally. The ‘Account Info’ option available under the title ‘the title ‘Gateway of TallyGateway of Tally’. The ‘Account Info’ ’. The ‘Account Info’ window contain the options :window contain the options :

1. Groups, 2. Ledgers, and 3. Voucher 1. Groups, 2. Ledgers, and 3. Voucher TypesTypes. .

Account Info - GroupAccount Info - GroupIt 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 to create group for

accounts accounts Select Select CreateCreate and press and press EnterEnter. .

Create - GroupCreate - GroupTally has 28 pre-defined Groups available for Tally has 28 pre-defined Groups available for us, which cannot be altered. Out of the 28 us, which cannot be altered. Out of the 28 Groups 15 are primary and 13 are secondary or Groups 15 are primary and 13 are secondary or sub-groups. We can create Groups of our sub-groups. We can create Groups of our choice also.choice also.

Create - GroupCreate - Group

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

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

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Create - GroupCreate - Group

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

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Create - GroupCreate - Group

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

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

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LedgerLedger

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

All voucher entries are made in this All voucher entries are made in this account. 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 of TallyGateway of Tally’. ’.

Creating a LedgerCreating a Ledger

Select ‘Select ‘CreateCreate’. ’.

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Creating a LedgerCreating a Ledger

Fill all the required information such as: Fill all the required information such as: NameName Alias (Second Optional Name of the Alias (Second Optional Name of the

Ledger)Ledger) Under (Group Name)Under (Group Name) Opening Balance (will be Zero for new Opening Balance (will be Zero for new

company)company) Mailing & Related Details Mailing & Related Details

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Creating a LedgerCreating a Ledger

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

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Creating a LedgerCreating a Ledger

‘‘AlterationAlteration’ of Account allows you to ’ of Account allows you to change information in account format. You change information in account format. You can also change the name of any group, can also change the name of any group, but cannot change its characteristics.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 AlterationLedger Alteration’ screen. ’ screen. Your confirmation would be sought before Your confirmation would be sought before permanent deletion.permanent deletion.

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ExerciseExerciseLet us create the ledger of the following Let us create the ledger of the following transactions. transactions. 20042004 ParticularsParticulars Amount Amount

(Rs.)(Rs.)

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

-- 2-- 2 Deposit in the BankDeposit in the Bank 500500

-- 3-- 3 Furniture purchased for Cash Furniture purchased for Cash 200200

-- 5-- 5 Purchased goods for CashPurchased goods for Cash 400400

-- 8-- 8 Purchased goods from M/s Ram Purchased goods from M/s Ram Narain on credit Narain on credit

10001000

-- 16-- 16 Goods sold to M/s Ram & Co. for cashGoods sold to M/s Ram & Co. for cash 600600

-- 24-- 24 Goods sold on credit to RameshGoods sold on credit to Ramesh 300300

-- 28-- 28 Received cash from RameshReceived cash from Ramesh 300300

-- 30-- 30 Paid Rent Paid Rent 100100

-- 30-- 30 Paid Salary Paid Salary 200200

ExerciseExercise

In the first transaction we have two In the first transaction we have two

accounts - one is Real, Cash Account, and accounts - one is Real, Cash Account, and

the other is Personal, Ram’s Capital the other is Personal, Ram’s Capital

Account, so there is a need to open two Account, so there is a need to open two

ledgers but the cash ledger is already ledgers but the cash ledger is already

available by default, so now there is a need available by default, so now there is a need

only to open second ledger.only to open second ledger.

ExerciseExerciseSteps:Steps:

1.1. Come to ‘Gateway of Tally’Come to ‘Gateway of Tally’2.2. Select ‘Accounts Info’Select ‘Accounts Info’3.3. Select LedgersSelect Ledgers4.4. Select CreateSelect Create5.5. Type ‘Ram’s Capital Account’Type ‘Ram’s Capital Account’6.6. Press <Enter>Press <Enter>7.7. Select Capital account option from the Select Capital account option from the

‘List of Groups’ under option ‘Under’.‘List of Groups’ under option ‘Under’.8.8. Press <Enter> and select No as the Press <Enter> and select No as the

capital never affect inventory.capital never affect inventory.9.9. Press ‘Y’ for acceptance.Press ‘Y’ for acceptance.

ExerciseExercise

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

ExerciseExercise

In the second transaction, we have two In the second transaction, we have two

accounts one is Real, Cash Account, and accounts one is Real, Cash Account, and

the other is Personal, Bank Account, so the other is Personal, Bank Account, so

there is a need to open only one ledger there is a need to open only one ledger

named Bank. named Bank.

ExerciseExerciseSteps:Steps:1.1. Come to ‘Gateway of Tally’Come to ‘Gateway of Tally’2.2. Select ‘Accounts Info’Select ‘Accounts Info’3.3. Select ‘Ledgers’Select ‘Ledgers’4.4. Select ‘Create’Select ‘Create’5.5. Type ‘Bank’Type ‘Bank’6.6. Press <Enter>Press <Enter>7.7. Select Bank Account option from the ‘List of Select Bank Account option from the ‘List of

Groups’ under option ‘Under’.Groups’ under option ‘Under’.8.8. Press <Enter> and select No as it will never Press <Enter> and select No as it will never

affect Inventory.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 Bank11.11. Press ‘Y’ for acceptance.Press ‘Y’ for acceptance.

ExerciseExercise

Ledger Bank Account created.Ledger Bank Account created.

ExerciseExercise

In the third transaction we have two In the third transaction we have two

Real accounts, one is Cash Account and Real accounts, one is Cash Account and

other is Furniture Account, so there is a other is Furniture Account, so there is a

need to open only one ledger named need to open only one ledger named

Furniture. Furniture.

ExerciseExerciseSteps:Steps:1.1. Come to ‘Gateway of Tally’Come to ‘Gateway of Tally’2.2. Select ‘Accounts Info’Select ‘Accounts Info’3.3. Select LedgersSelect Ledgers4.4. Select CreateSelect Create5.5. Type ‘Furniture’Type ‘Furniture’6.6. Press <Enter>Press <Enter>7.7. Select Fixed Assets option from the Select Fixed Assets option from the

‘List of Groups’ under option ‘Under’.‘List of Groups’ under option ‘Under’.8.8. Press <Enter> and select Yes as it will Press <Enter> and select Yes as it will

affect inventory.affect inventory.9.9. Press ‘Y’ for acceptance.Press ‘Y’ for acceptance.

ExerciseExercise

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

two Real accounts, one is Cash Account two Real accounts, one is Cash Account

and the other is Purchase Account and one and the other is Purchase Account and one

Personal account, M/s.Ram Narain, so Personal account, M/s.Ram Narain, so

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

Purchase AccountPurchase Account

M/s Ram Narain AccountM/s Ram Narain Account

ExerciseExerciseSteps:Steps:

1.1. Come to ‘Gateway of Tally’Come to ‘Gateway of Tally’2.2. Select ‘Accounts Info’Select ‘Accounts Info’3.3. Select LedgersSelect Ledgers4.4. Select CreateSelect Create5.5. Type ‘Purchase’Type ‘Purchase’6.6. Press <Enter>Press <Enter>7.7. Select Purchase Account option from the ‘List of Groups’ Select Purchase Account option from the ‘List of Groups’

under option ‘Under’.under option ‘Under’.8.8. Press <enter> and select Yes as it will affect inventory.Press <enter> and select Yes as it will affect inventory.9.9. Press ‘Y’ for acceptance.Press ‘Y’ for acceptance.10.10. Press < enter> a new empty window of ledger creation will Press < enter> a new empty window of ledger creation will

appearappear11.11. Type M/s. Ram NarainType M/s. Ram Narain12.12. Press <Enter>Press <Enter>13.13. Select Sundry Creditors Account option from the ‘List of Select Sundry Creditors Account option from the ‘List of

Groups’ under option ‘Under’.Groups’ under option ‘Under’.14.14. Press <enter> and select No as the capital never affect Press <enter> and select No as the capital never affect

inventory.inventory.15.15. Enter Name and Address of the M/s. Ram Narain.Enter Name and Address of the M/s. Ram Narain.16.16. Press ‘Y’ for acceptance.Press ‘Y’ for acceptance.

ExerciseExercise

In the sixth and seventh transactions we In the sixth and seventh transactions we

have two Personal accounts, one is M/s. have two Personal accounts, one is M/s.

Ram and Company and the other is Ram and Company and the other is

Ramesh, and one Real account, cash, so Ramesh, and one Real account, cash, so

there is a need to open only two Ledgers there is a need to open only two Ledgers

of Personal Accounts. of Personal Accounts.

ExerciseExerciseSteps:Steps:1.1. Come to ‘Gateway of Tally’Come to ‘Gateway of Tally’2.2. Select ‘Accounts Info’Select ‘Accounts Info’3.3. Select LedgersSelect Ledgers4.4. Select CreateSelect Create5.5. Type ‘M/s. Ram and Company’Type ‘M/s. Ram and Company’6.6. Press <Enter>Press <Enter>7.7. Select Sundry Debtors option from the ‘List of Groups’ under Select Sundry Debtors option from the ‘List of Groups’ under

option ‘Under’.option ‘Under’.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 Ramesh.Enter Name and Address of Ramesh.10.10. Press ‘Y’ for acceptance.Press ‘Y’ for acceptance.11.11. Press < enter> a new empty window of ledger creation will Press < enter> a new empty window of ledger creation will

appearappear12.12. Type RameshType Ramesh13.13. Press <Enter>Press <Enter>14.14. Select Sundry Debtors option from the ‘List of Groups’ under Select Sundry Debtors option from the ‘List of Groups’ under

option ‘Under’.option ‘Under’.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 Ramesh.Enter Name and Address of the Ramesh.17.17. Press ‘Y’ for acceptance.Press ‘Y’ for acceptance.

ExerciseExercise

Ledger Ramesh Account created.Ledger Ramesh Account created.

ExerciseExercise

In the eighth transaction we have one In the eighth transaction we have one

Personal accounts, Ramesh Account, Personal accounts, Ramesh Account,

and one Real account, cash.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 In the ninth and tenth transactions we

have two Nominal Accounts, Rent have two Nominal Accounts, Rent

Account and Salary Account, and one Account and Salary Account, and one

Real Account, Cash Account, so there is Real Account, Cash Account, so there is

a need to open only two Ledgers of a need to open only two Ledgers of

Nominal Accounts. Nominal Accounts.

ExerciseExerciseSteps:Steps:1.1. Come to ‘Gateway of Tally’Come to ‘Gateway of Tally’2.2. Select ‘Accounts Info’Select ‘Accounts Info’3.3. Select LedgersSelect Ledgers4.4. Select CreateSelect Create5.5. Type ‘Rent’Type ‘Rent’6.6. Press <Enter>Press <Enter>7.7. Select Indirect Expenses option from the Select Indirect Expenses option from the

‘List of Groups’ under option ‘Under’.‘List of Groups’ under option ‘Under’.8.8. Press <Enter> and select No as it will Press <Enter> and select No as it will

never affect inventory.never affect inventory.9.9. Press ‘Y’ for acceptance.Press ‘Y’ for acceptance.

ExerciseExercise

Ledger Rent Account created.Ledger Rent Account created.

ExerciseExerciseSteps:Steps:

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

2.2. Type SalaryType Salary

3.3. Press <Enter>Press <Enter>

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

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

6.6. Press ‘Y’ for acceptance.Press ‘Y’ for acceptance.

ExerciseExercise

Ledger Salary Account created.Ledger Salary Account created.

Thank YouThank You

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