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12/06/2015

What Does Tally 9 Offer?

Single-User Edition (TallySilver)
Multi-User Edition (TallyGold).
Best suited for small business at amazingly attractive prices!
Tally 9 - Best For Business Accounting

Complete Book-keeping
Books, Registers and Statements of Accounts
General Ledger
Outstandings Management, including Credit Limits
Accounts Receivables and Accounts Payables
Flexible Voucher Numbering
Flexible Classification of Account Heads
Drill Down Display
Date based Reporting
Voucher and Cheque Printing
Columnar Reports
Bank Reconciliation
Tally 9 - Best For Business Financial Management

Funds Flows
Receivables Turnover (Payment Performance of
Debtors)
Branch Accounting
Flexible Period Accounting
Consolidation of Companies
Budgeting and Control
Cost Centres & Profit Centres, with Multiple Cost Categories
Variance Analysis
Ratio Analysis
Scenario Management including Reversing Journals and Optional Vouchers
Tally 9 - Best For Statutory Returns

VAT Statutory Returns
VAT Composition Returns
Service Tax
Tax Deducted at Source (TDS)
Fringe Benefit Tax (FBT)
Excise for Traders
What Makes Tally 9 The Best?

Simplicity in usage
Speed in navigation
Power of information management
Flexibility in adapting to your business
Concurrent multi-lingual capability
No codes for convenience
Real-time reporting
Online help for user friendly experience
Tally 9 - Best For Advanced Business Financial Management

Multiple Companies
Multi Currency Accounting
Multiple Financial Years
Comparison of Data using Multi-Columnar Reporting
Memo Vouchers
Post-dated Vouchers
User-defined Voucher Types
Sales and Purchase Extracts
Cash Flows
Daily Balances & Transaction Values
Interest Calculations
Percentage based Reporting
Tally 9 allows you to get the information you require in the format you need. Just create your format in any ODBC compliant software like MS-Word or MS-Excel, and pull data from Tally. To create any report you want. Like Audit Reports and Schedule VI forms. Or internal reports. You can even generate your export documentation by pulling data from Tally.

• MailTally Harness the power of the Internet! Tally 9 uses the SMTP protocol for e-mail. Now, e-mail invoices to your customer. Or your purchase order. In fact, e-mail any Tally report or document as easily as you print! Even reminder letters and statement of accounts need not be printed and posted. Simply e-mail them. It is not only postage cost that you save, you save on so much of your valuable time.

• E-Tally You can improve your company's efficiency by sharing information with your extended enterprise: your customers, your bankers, your business partners and other associates. Now publish all reports and documents from Tally 9 to a secure part of your website, using either FTP, HTTP or secure HTTP protocols, in HTML format. You can use this feature to inform customers the new price-range and stocks available for sale. Or publish reports that your CEO can access, while traveling, using any internet browser.

• XML Tally Tally 9 enables you to exchange information with non-Tally systems, using XML. You can now share data across locations, amongst business associates and partners, and make your workflow seamless. You can now collaborate with others and share information like never before.

• On-line Help Tally 9 has built in Context Sensitive Help. Press the Help button while in Tally, and it will bring up the relevant topic.

• "Scenario" management The new "Scenario" Management capability allows you to plan, as well as analyse your business performance, under varying assumptions. You can get different views of your accounts and inventory information by selectively including Optional Vouchers and/or Reversing Journals and Memos. Use this feature for forecasting and planning. Prepare reports including provisional figures without affecting actual accounts using reversing journals that automatically reverse. This is useful for reporting interim statements.

• Print Preview This facility he

02/05/2015

Haryana me tally operator /accountant ke requirement hai to post kere

31/03/2015

Interest Calculation in Advance Mode
The advanced parameters are particularly useful where
interest rates change from time to time.
Go to Gateway of Tally> F11: Features > Accounting
Features > Set Activate Interest Calculation to Yes. >
Set Use Advanced Parameters to Yes .
The Interest Parameters sub-screen is displayed
For Ledgers created under the Group Sundry Debtors/
Sundry Creditors, the Interest Parameters sub-screen is
displayed as shown below:
Set Calculate Interest Transaction-by-Transaction to
Yes , if you want to calculate interest for each
transaction.
Set Override Parameters for each Transaction to Yes ,
if you want to override the interest rates and
parameters set here during voucher entry.
Enter the interest rate in the Rate field.
Select the interest rate calculation period from the
Interest Style list in the Per field.
Select the choice of balances for which the interest
has to be calculated from the Interest Balances list in
the On field. The balances are All Balances, Credit
Balances only and Debit balances only. Interest can be
calculated on all outstanding balances, whether debit
or credit. You would like to select only credit balances
in case of accounts like Bank accounts, if you want to
know the interest that the bank might charge on
overdrawn balances.
Select the rounding method applicable from the
Rounding Methods list. The amount can be rounded off
normally or upward or downward. If you do not want
any rounding method, select Not Applicable.
For Ledgers created under the Group Bank Accounts , or
if the option Calculate Interest Transaction by
Transaction is set to No , then the Interest Parameters
sub-screen is displayed as shown below.
Enter the interest rate in the Rate field.
Select the interest rate calculation period from the
Interest Style list in the Per field.
Select the choice of balances for which the interest
has to be calculated from the Interest Balances list in
the On field. The balances are All Balances, Credit
Balances only and Debit balances only. Interest can be
calculated on all outstanding balances, whether debit
or credit. You would like to select only credit balances
in case of accounts like Bank accounts, if you want to
know the interest that the bank might charge on
overdrawn balances.
Specify the interest rate applicable period from the
Applicable From: and To: fields.
Select the rounding method applicable from the
Rounding Methods list. The amount can be rounded off
normally or upward or downward. If you do not want
any rounding method, select Not Applicable.
Display Report – Interest on Outstanding Balances
To view the report on Outstanding balances:
Go to Gateway of Tally> Display> Statements of
Accounts.> Interest Calculations> Ledgers> XY Bank
Advanced Parameters - Interest calculation transaction
by transaction
Activate and specify interest calculations in ledger
masters.
The following extra options now become available:
You can now have Multiple Rates of Interest.
You can Override Advanced Parameters during voucher
entry. Hence, each entry could have different
parameters.
Choice of Balances – All Balances, Credit Balances
only, Debit Balances only.
Applicability - This actually applies to the viewing of
the statement and not the levy of interest.
Calculate from - You can decide whether interest is to
be levied from the Due Date or from the Effective Date
of the transaction (or the voucher date if effective date
is not activated) or even Date ranges specified during
Voucher Entry.
Choice of methods for Rounding off of interest
amounts.
Note: To obtain the option Calculate from Date
Specified during Entry, you must have Override
advanced parameters set to Yes. The option is required
if you want to specify interest to be calculated at
different rates for different periods. If you choose to
override parameters then information would be asked
during voucher/invoice entry. The interest information
is required after the bill-wise details have been
entered.
Report on Interest Calculated on outstanding
transactions/bills
Go to Gateway of Tally> Display> Statements of
Accounts> Interest Calculations> Ledger> CP Ltd
Press the button F1: Detailed on the Button bar to see
the calculation and the period. Previous transactions
are calculated from Effective date of Transaction as
default. Date Specified during Entry has not been used.
Note: Part monies received have been accounted for
and interest calculated on the balance.
A look at Calculate From Dates Specified during
Voucher Entry
You have set up the Interest Parameters for CP Ltd to
calculate on Dates specified during Voucher Entry.
We will take one invoice and put in the interest
information.
To view the interest amount :
Go to Gateway of Tally> Display> Statements of
Accounts> Interest Calculations> Ledger> CP Ltd
Book Entries and adjustment of interest
We have seen the reports on interest amounts
calculated in different ways but these have not been
brought into books! They simply give you the interest
implications. You must book them now.
How to enter the calculated interest amounts?
Use Debit Notes and Credit Notes with Voucher
Classes
Use Debit notes for Interest receivable and Credit
Notes for Interest Payabl e. Interest is calculated on
Simple or Compound basis and separate classes should
be used for them.
Set-up Debit/Credit Note Classes for interest entries
Set up Debit Notes . Credit Notes will behave the same
way.
Go to Gateway of Tally> Accounts Info.> Voucher
Types> Create/Alter
Alter the Voucher Type Debit Note.
Tab down to the field Class .
Type the name of the Class .
Type Interest - Simple
Likewise, create a Class – Compound Interest and set
Yes to Amounts to be treated as Compound Interest.
Accept the Voucher Type and return to the Gateway of
Tally . Create a ledger account Interest Received under
Group Indirect Income.
Voucher Entry for booking Interest
1. Go to Gateway of Tally> Accounting Voucher
2. Select Ctrl+F9: Debit Note
3. There are two situations for interest adjustment:-
Simple Interest – Interest amounts are not debited
onto the same bills. Create a fresh reference for it.
Compound Interest – Amounts are auto-debited to the
selected bills. Bill-wise details will not appear in this
case.
Interest on balances only
Bill-wise interest entry
Debit CP Ltd
Credit Interest Received
When you debit the party account, a list of bills for
which interest is applicable pops up. Select the bills to
adjust. Note that even cleared bills appear.
Select the respective interest bills from the list . The
debit amount is filled up with the total. Select New Ref
in the bill-wise allocation. In the interest sub-screen ,
ensure that the rate of interest is 0. Now, Credit
Interest Received. The amount is already filled in.
Your voucher will resemble the one below:
Entries for compound interest are exactly the same as
for Simple Interest where all you do is select the
Voucher Class Compound Interest. Also the Bill-wise
details popup sub-screen does not come up as the
amounts are added onto the bills.
Select the required bill from the list and complete a
Debit Note.
Now display Outstandings for CP Ltd
The Bill reference CP/00466993 is the invoice onto
which interest has been compounded.
A new Reference no 2 has been created for Simple
Interest due from CP Ltd.
Entries for Interest on Balances only
Again, the issues are Simple and Compound Interest
Compound Interest
Make the following entries in a Debit note with
Compound Interest Voucher Class
Debit Bank Ltd (the amount is automatically filled up
with the calculated interest)
Credit Interest Received
And nothing needs to be done! The Bank Account has
been increased by the amount of interest due and the
Income account of Interest Received also credited.
Simple Interest
Make the same entry as above.
However, since it has the effect of increasing the Bank
Ltd account with the amount due (compound effect),
you must make a journal entry to reverse it. The
reversal entry would be something like this:
Debit Interest Receivable (a current asset account)
Credit Bank Ltd
Use a normal Journal voucher for this entry.
We have to necessary go this route to take advantage
of the auto filling of the interest amount which can
appear only when we use the Bank Ltd account in
Debit Note in the first place.

19/01/2015

Question Base [F.A.Q.]- Value
Added Tax (VAT) @ Tally.ERP 9
1. Enabling Value Added Tax (VAT)

2. Creating Master Ledgers that are affected by VAT
The ledgers that are affected by VA T are:
‡ Purchase Ledger
‡ Sales Ledger
‡ Input VAT Ledger
‡ Output V AT Ledger
# Party Ledger

3. Creating Purchase Voucher without Inventory
On 1-6-09, Universal Traders purchased from Sujan Ltd.,
Bangalore, Surya Lamps 20 nos at Rs. 300 each & Philips
lamps 30 nos at Rs. 500 each. (Input VA T - 840.)

4. Creating Purchase Voucher with default VAT Class
On 3-6-09, Universal Traders purchased from Sujan Ltd.
Bangalore, Surya Lamps 30 Nos. at Rs. 300 each. VAT @
4% was charged additionally.

5. Creating Purchase Invoice with Selection of VAT
Class during Entry
On 3-6-09, Universal Traders purchased from Sujan Ltd.
Bangalore, Philips lamps 10 Nos. at Rs. 300 each. VA T
@ 4% was charged additionall y .

6. Creating Purchase Invoice with Multiple VAT Rates
Item Quantity Rate VA T %
GE Lamp 15 Nos 100 12.5
Bajaj Lamp 5 Nos 150 4

7. Creating Sales Voucher without Inventory
On 8-6-09, Universal Traders sold to Chahak Traders,
Bangalore, Surya lamps 10 Nos. at Rs.350 each. VAT @
4% was charged additionally.

8. Creating Sales Voucher with Default VAT Class
On 15-6-09, Universal Traders sold to Somi T elicomm,
Bangalore, Surya lamps 8 Nos. at Rs. 350 each and
Philips lamps 5 Nos. at Rs. 550 each. VA T @ 4% was
charged addition- ally.

9. Printing Sales Invoice

10. Creating Sales Invoice with selection of VAT Class
during Entry
On 16-6-09, Universal Traders sold to Chahak Traders,
Bangalore, Philips lamps 3 Nos. at Rs. 550 each. VAT @
4% was charged additionall y

11. Creating Sales Invoice with Multiple VAT Rates
Sales Item Quantity Rate VA T %
GE Lamp 10 Nos 150 12.5
Bajaj Lamp 5 Nos 150 4
You can use multiple ledgers pre-defined with a
different VA T rate, or choose to select each rate at
the time of voucher entry

12. Creating Sales Invoice using Voucher Class
On 20-6-09, Universal Traders sold 1 Surya lamp at Rs.
350 to Chahak Traders. The goods are taxable @ 4%
VA T.

13. VAT Reports
In Tall y .ERP 9, you can generate V A T Reports &
statutory returns in prescribed format. In this lesson,
we will discuss about the books of accounts, reports
and registers related to VAT.
VAT Computation Report
VAT Returns

14. VAT Accounting for Return of Goods ( Debit /
Credit Note )
In a business, customers may return goods due to
numerous reasons such defectiveness, expired or short
delivered and so on. Similarly , even the defective
goods may also be returned to the vendors.
In this section, we will look into the entries of such
transactions through Credit Notes and Debit Notes
affecting VAT in Tally.ERP 9

15. Rate Difference in Purchase / Sales
In course of business, price variations may arise in
respect of the prices of commodities due to inflation
or deflation in the market or competition, proper
accounting of such transactions is essential for
accurate computation of tax liability and outstanding
receivables or payables from the customer / vendors
respectively .
Debit/ Credit Notes can be used in case of changes in
rates after the purchase and sales transac- tions

16. Inter-State Purchase
Inter-state Purchases attract Central Sales Tax (CST),
which is not set-off against Output VA T on sales
within the state or Output CST in inter-state sales. The
CST paid is treated as a part of pro- curement cost.
Create the following purchase voucher for the Inter-
state Purchase transaction
Date Party Item Quantity Rate T ax
24-06-09 Saarthak Enterprises
(Kerala)
Surya Lamps 50 Nos 200 CST 4%

17. Inter-State Sales
In the case of Inter-state Sales, Input VA T can be
adjusted against Output CS T . Place the Output
CST Ledger under the group – Duties & Taxes and
classify as CST for auto-computation.
Create the following Sales voucher for the Inter-state
Sales transaction
Date Party Item Quantity Rate T ax
26-6-09 Business Automation Surya Lamps 25 Nos 350 CST 4%

18. Exempted Purchase under VAT
Under the VA T Act, few commodities comprising of
natural and unprocessed products, which are produced
in the unorganized sectors, and legally barred from
taxation, are placed under the Exempted goods list.
Transactions for these items do not carry any VAT
charge. The list of exempt goods vary from state to
state.
Date Party Books Quantity Rate
27-6-09 Anil Book Depot World of Cutting T ools
World Book Encyclopedia
8 Nos
25 Nos
480
50

19. Exempted Sales under VAT
Consider the following sales transaction of Universal
T raders
Date Party Books Quantity Rate
27-06-09 J.K. Associates World of Cutting T ools 5 Nos 500

20. Purchase from Unregistered Dealer Under VAT
A dealer whose turnover is below a certain threshold
can be called as an unregistered dealer . Unregistered
dealers cannot issue a T ax Invoice required for
claiming the Input Credit.
Thus, purchases from unregistered dealers, are not
entitled for input credit and have to be recorded
separatel y .
Consider the following transaction:
On 29-6-09, Universal Traders purchased Surya Lamps,
10 nos. at Rs.150 each from an unregistered dealer
Payal Travels

21. Claiming ITC on Capital Goods under VAT
Under VA T laws, the Input T ax Credit is allowed on
capital goods from the date of its commercial
production. The extent of credit is at the discretion of
the Assessing Officer and is deferred over
12 months.
Consider the following transaction:
On 29-6-09, Universal Traders purchased a Laser
marking machine at Rs. 15,00,000 + VAT @ 4% from
Pandit Engineering. On 30-6-09 the Tax authorities
allowed a tax credit of Rs. 30000 to be set-off in 12
monthly instalments.

22. Inter-State Branch Transfer
Inter-state Branch transfers do not attract any tax.
The Input Credit on stocks transferred outside the state
is allowed only to the manufacturers. However , to put
stock transfers and inter-state trade broadly on the
same competitive level, 4% of the Input Credit on stock
transfer is disal- lowed.
Branch T ransfer transactions can be both Transfer
Inwards and Transfer Outwards. T all y .ERP 9 provides
specific V AT classes for these transactions.
(A) Branch Transfer Outword
(B) Branch Transfer Inword

23. Practical EXERCISE !
Create a new company called Aman Motors , an
Automobile dealer and also a manufacturer of
Automobile S pare parts. Create the following masters
and V AT related transactions:

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