WORKSHOP ONDepartment of Management Studies

8th &9th January 2014By Dr.K.Senthil & Mr.R. Rajasekar

Definition of AccountingThe individual record of Person, Firm, Asset, abilities, Expenses or Income is called as Account.Book Keeping means maintaining the record of business transaction in a systematic manner.

TransactionAn exchange of money or moneys worth between two parties is called a transaction. Type of Transaction 1. Cash Transaction 2. Credit Transaction

Objective Of Book KeepingTo know the profit or loss of business during a particular period. To know the capital invested in the business on any particular day. To know the total assets and liabilities of the business on a particular date. To know the total debtors and creditors of the business. To find out the total incomes and total expenditure of the business.

Basic Accounting & TallyBusiness Entity Concept-Business is different from Business OwnerGoing Concern Concept-Business continues over a period of timeMatching Concept-Classification of transactions into income ,expense etc and matching themMoney Measurement All transactions in terms of money.Historical concept- Cost or market price whichever is less

Type of AccountsReal Account Building, Furniture, Cash and etc.,Personal Account Suppliers, Customers and etc.,Nominal Account Sales, Salary, Cost of Goods sold and etc.,

Accounting - Manual

Journal Book ManualIt is a book of accounts where the transactions are recorded for the first time

Ledger Book -ManualLedger contains accounts of several persons, assets, expenses, incomes, profits, etc. A ledger is a book of accounts where the transactions are transferred from the journal book

Trail Balance -ManualThe list or the statement of balances of ledger accounts on a particular date is known as Trial Balance.Trial Balance of xyz company as on 1st April,2002

Trading & Profit & Loss AccountIt is an account which shows the net Profit / Net Loss of a business for certain periodTrading & Profit & Loss A/CFor the year ended 31st March 2003

Balance Sheet - ManualThe Balance Sheet is a statement showing the financial position of the business as on a particular day.

InventoryAvailable stock at Factory site.Types of Inventory :- * Raw Inventory * Processing Inventory * Finished Inventory

Procedure of Inventory ControlSalesSales Order Delivery Note Rejection In Sales Invoice Sales Voucher Receipt VoucherPurchase Purchase Order Receipt Note Rejection Out Purchase Invoice Purchase Voucher Payment Voucher

Simplicity Simplicity is the power of Tally.Erp 9 it is simple, easy to setup and use. It also allows easy Keyboard operations. It requires basic knowledge of Accounts and English to use it.

Speed Tally.ERP 9 provides the capability to generate instant and accurate reports, which assists the management to take timely and correct decisions for the overall productivity and growth of the company.

Power Tally.ERP 9 allows the user to maintain multiple companies and with unlimited levels of classification & grouping capabilities. It also allows drill down facility from report level to transaction level

Flexibility Tally.ERP 9 provides flexiblity to generate instant reports for any given period (month/year) or at any point of time besides providing the facility to toggle between Accounting & Inventory reports of the same company or between companies

Multi-lingual capability Tally. ERP 9 offers you the exclusive capability of maintaining your accounts in any national language, viewing them in another language and printing them in yet another language Immediate posting & updating of books of accounts as soon as the transactions are entered, thereby facilitating instant statements & Reports. It also facilities real-time multi-user environment.

Complete Book Keeping Tally.ERP 9 maintains all books of accounts starting from record of vouchers to ledgers etc. You can use different types of vouchers like payment, receipt, sales, purchases, receipt notes, delivery notes and adjustment entry vouchers like journals, debit & credit notes. Tally.ERP 9 inherits the principle of double entry system of book keeping and thus reduces possibilities of errors during voucher entry.

Tally Features

Ledgers & GroupsAll Financial entries are made using ledger account heads. Ledgers that have transactions of the same nature are classified under one groupTally Provide a set of 28 Pre-defined groups15 - Primary Groups, 13- Sub GroupsAmong 15 Primary Groups 9 are appeared in Balance sheet, which are capital in nature. 6 groups appear in the Profit and Loss Account which are revenue in nature

Flexible Chart of Accounts Books & Register Tally.ERP 9 provides you capability to generate various books and registers for any specific period viz., month, date, and year and as on date. In Tally.ERP 9, once voucher entry is made, the transactions are automatically & immediately in the Day Book and other Books of Accounts without any additional effort.

Tally.ERP 9 allows you to maintain and generate all primary books of accounts and registers like Cash Book Bank Book Purchase Register Sales Register Journal Register Debit Note Register Credit Note Register General Ledger

Tally.ERP 9 provides you the capability to generate various financial statements and Management Information system reports, thereby facilitating better management, effective control and well-informed decisions. Following are the some of salient features, which makes Tally.ERP 9 best for basic financial management.

Financial Management Fund Flows Receivables Turnover (Payment performance of debtors)Branch Accounting Flexible Period Accounting Budgeting and Control Cost centers / Profit centers with multiple Cost CategoriesRatio Analysis Scenario Management

Tally.ERP 9 provides you the capability to generate numerous advanced and critical Management Information system reports and analytical tools, thereby facilitating better management, effective control and well-informed decisions. Following are the some of salient features, which makes Tally.ERP 9 best for advanced financial management.

Multiple companies Multi-Currency Multiple Financial year Multi-columnar reporting Memo Vouchers Post dated Vouchers User defined Vouchers Sales and Purchase extracts Cash Flows Daily Balance & Transaction Values Interest calculations Percentage Based Reporting

Sales and Purchase extracts Cash Flows Daily Balance & Transaction Values Interest calculations Percentage Based Reporting

Tally.ERP 9 provides you the capability to record inventory transactions without changing the way you do your business. It provides numerous predefined Inventory vouchers to suit your business requirements and flexibility to create unlimited stock items, use simple to complex conversion units and generate invoices with the required information and dimensions. Following are the some of salient features, which makes Tally.ERP 9 best for basic inventory man-agement.

Inventory Management Flexible units of Measure Flexible Invoicing Unlimited Grouping & Categorization of Stock itemsVoucher Classes to expedite voucher Entry

Inventory Management

Separate Actual and Billed Quantities Gross Profits and Consumption Report Use Stock Item Names and / or Part Numbers POS Invoicing

Advance Inventory Management you do your business. It provides predefined Inventory vouchers to suit your business requirements besides allowing you to create user defined voucher types and flexibility to track your inventory at any point/stage/process and numerous other features.

Advance Inventory Management Following are the some of salient features, which makes Tally.ERP 9 best for advanced inventory management. Stock Query Multiple Warehouses / Locations: Sub-Godowns Stock transfers to Godowns Multiple Stock Valuation

Advance Inventory Management

Bill of Materials Tracking Additional Cost of Manufacturing Job Costing Multiple Stock ValuationBatch-wise / Lot-wise & Expiry Date Handling Sales and Purchase Order Processing

Advance Inventory Management Tracking Inventory Rejection In and Rejection Out Additional Costs Incurred on Purchase Unlimited Stock Item Classification Stock Ageing Analysis Batch Related Stock Ageing Price List with Multi Price levels

Advance Inventory Management Batch-wise / Lot-wise & Expiry Date Handling Sales and Purchase Order Processing Tracking Inventory Rejection In and Rejection Out Additional Costs Incurred on Purchase Unlimited Stock Item Classification

Advance Inventory Management Tracking Inventory Rejection In and Rejection Out Additional Costs Incurred on Purchase Unlimited Stock Item Classification Stock Ageing Analysis Batch Related Stock Ageing Price List with Multi Price levels

Button Bar Calculator Pan Information pan

To create the company you would click at Create Company option A new window will appear with various items on the screen.

Type the name of the company you want to create

You can type some other mailing name of the company.

Type mailing address of the company.

In Tally accounts can be maintained in a two different ways:.

This option provides security control to your company accounts

Company Creation

This option permits you to load any company, which was created earlier, from the list of companies listed.

It allows you to exit, from the companies not in use, from the dialog box

It allows you to change the information of an existing company filled at the time of creation of the company

To change the password, given earlier at the time of creating the company

Split the companies to form two companies out of the existing one; after the data specify by the user.

This option allows the user to take a backup either on local hard disk or on any external media..

This option allows the user return to original, usable and functional condition. Restore data from one storage to another

Purchase Voucher -Shortcut Key (F9)

Purchase VoucherDescriptionRecords all Credit & Cash purchasesVoucher EntryAccountAmountAmountSuppliers ledger account( Sundry Creditors )CreditPurchases ( Purchase A/C)Sales Tax on purchasesDebit

Debit

Payment Voucher - Shortcut Key (F5)

Payment VoucherDescriptionRecords all bank and cash paymentsVoucher EntryAccountAmountAmountledger account( Sundry Creditors)DebitBank or cash account,Credit

Sales Voucher - Shortcut Key (F8)

Sales VoucherDescriptionRecords all credit & Cash salesVoucher EntryAccountAmountAmountBuyers ledger account( Sundry Debtors )DebitSales ( Sales Accounts)Sales TaxCreditCredit

Receipt Voucher - Shortcut Key (F6)

Receipt VoucherDescriptionRecords all receipts into bank or cash accountsVoucher EntryAccountAmountAmountLedger account receiving,(Indirect Incomes)CreditBank or Cash accountDebit

Contra Voucher - Shortcut Key (F4)

Contra VoucherDescriptionRecords funds transfer between cash and bank accountsVoucher EntryAccountAmountAmountE.g. Bank-Bank Account(Bank Accounts)CreditE.g. Petty Cash (Cash-in-hand)Debit

Journal Voucher - Shortcut Key (F7)

Journal VoucherDescriptionRecords all adjustments between ledger accountsVoucher EntryAccountAmountAmountE.g. Advertising( Indirect Expenses )DebitE.g. Office Costs( Indirect Expenses )Credit

Click on Groups

Accounts Info

Click on Ledgers

Click on

Inventory Vouchers

Delivery NoteShortcut Key (Alt+F8)

Delivery NoteDescriptionRecords Delivery stock Details recordedRef., ledger a/c, suppliers name & Address, order details, name of stock item, stock Godown, Qty, Rate, Amount.

Rejections In Shortcut Key (Ctrl+F6)

Rejections In (Sales Returns)DescriptionRecords rejected stock details received from customersDetails recordedRef., ledger a/c, suppliers name & Address, order details, name of stock item, stock Godown, Qty, Rate, Amount.

Receipt Note :- Shortcut Key (Alt+F9)

Rejections Out :-Shortcut Key (Alt+F6)

Rejections Out (Purchase Returns)DescriptionRecords rejected stock details returned to suppliersDetails recordedRef., ledger a/c, suppliers name & Address, order details, name of stock item, stock Godown, Qty, Rate, Amount.

Stock Journal :-Shortcut Key(Alt+F7)

Stock Journal VoucherDescriptionEssentially records the transfer of stock from one Godown to anotherDetails recordedNames of from and to Godowns, name of stock item, Qty, Rate, Amount, Narration

Accountingvouchers

Debit Note Voucher :-Shortcut Key (Ctrl + F9)

Debit Note VoucherDescriptionRecords Debit note entry for purchase returns or overcharging by a supplierVoucher EntryAccountAmountAmountSuppliers a/cDebitPurchases ReturnsCredit

Credit Note Voucher :-Shortcut Key ( Ctrl+F8)

Credit Note VoucherDescriptionRecords Credit note entry for sales returns or customer overcharging Voucher EntryAccountAmountAmountSales ReturnsDebitCustomer A/cCredit

Reversing Journal Voucher :- Shortcut Key (F10)Reversing Journals are used for the purpose of Scenario Management reporting. Detailed explanation is available on in Volume Two.

Reversing Journal VoucherDescriptionRecords the voucher entries in a Reversing Journal Register, without affecting the ledger accounts and financial statementsVoucher EntryAccountAmountAmountledger accountDebitledger accountCredit

This is a non-accounting voucher and the entries made using it will not affect your accounts. That is, Tally does not post these entries to ledgers but stores them in a separate Memo Register.Memo Voucher :-Shortcut Key(F10)

Memo VoucherDescriptionRecords the voucher entries in a Memo Register, without affecting the ledger accounts and financial statementsVoucher EntryAccountAmountAmountledger accountDebitledger accountCredit

Optional Voucher :- This is another non-accounting voucher. However, it differs from the Memo voucher in two respects :Firstly, it is not a voucher type, all other voucher types can be marked Optional during voucher entry.Secondly, you have the option to bring this voucher into your accounts Temporarily and see its effect on financial reports.

Optional VoucherDescriptionRecords the voucher entries temporarily, to help visualise the effect on reports, without affectiong the ledger Voucher EntryAccountAmountAmountledger accountDebitledger accountCredit

Sales OrderPurchase OrderInventory Voucher

Sales Order :-Shortcut Key(Alt+F4)

Sales OrderDescriptionRecords Placing an order of new stock to CustomersDetails recordedRef., ledger a/c, suppliers name & Address, order details, name of stock item, stock Godown, Qty, Rate, Amount.

Purchase Order :-Shortcut Key (Alt+F4)

Purchase OrderDescriptionRecords Placing an order of new stock to suppliersDetails recordedRef., ledger a/c, suppliers name & Address, order details, name of stock item, stock Godown, Qty, Rate, Amount.

Click on

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