Tally Note nc

History

Tally Solutions, then known as Peutronics, was co-founded in 1986 by Shyam Sunder Goenka and his son Bharat Goenka.  Shyam Sundar Goenka was running a company that supplied raw materials and machine parts to plants and textile mills in southern and eastern India. Unable to find software that could manage his books of accounts, he asked his son, Bharat Goenka, 23, a Maths graduate[4] to create a software application that would handle financial accounts for his business.[ The first version of the accounting software was launched as an MS-DOS application. It had only basic accounting functions, and was named Peutronics Financial Accountant.

• In 1999, the company formally changed its name to Tally Solutions.
• In 2006, Tally launched Tally 8.1, a concurrent multi-lingual version, and also Tally 9.
• In 2009, the company released Tally.ERP 9, a business management solution[
• In 2015, the company launched a program called Vriddhi to certify and classify its business partners.] Also in 2015, Tally Solutions announced the launch of Tally.ERP 9 Release 5.0 with taxation and compliance features.
• As of 2016, the company had 1 million customers.
• In 2016, Tally Solutions was shortlisted as a GST Suvidha Provider to provide interface between the new Goods and Services Tax (GST) server and taxpayers, and in 2017, the company launched its updated GST compliance software

Types of Accounts

1. Personal-JolQmut vftf_ - related with person or organization , bank , firm , company

such as ram a/c , abc company a/c , nucleus bank a/c, Manita a/c

2. Real -j:t'ut vftf_- related with goods which you can feel , see , touch

such as purchase a/c , cash a/c , computer a/c  , furniture a/c , building a/c

3. Nominal-cjf:tljs vftf_ -all the business  expenses and incomes such as wages ,

Meaning of Debit :- Should to write for name.

If we give some goods to anybody in credit we should to put his name directly in debit .

Meaning of Credit : Deposit money should to give . Credit .

If somebody give us money we should to make it Cr. (Credit)

Golden rule of Accounting :-

Personal :- Debit the receiver , credit the giver

Real :- Debit what comes in , Credit what goes out

Nominal : Debit all the expenses , Credit all the incomes

Basic entires for practice

1. Mrs Manita Start business with 20000 cash . (real a/c and nominal a/c)  

Cash A/c Dr                                              20000

                  to capital A/c              20000

2. Purchase good of 5000 (Real a/c )

Purchase a/c dr                             5000

                   to cash a/c                  5000

3. Good purchased from Sohan 2000 . (real a/c and personal a/c)

Purchase a/c dr                             2000

                  to sohan a/c                 2000

4.Returned goods of 5000 to Sohan . (good related a/c should to write in purchase and  personal a/c and nominal a/c )

Sohan a/c dr                                  5000

             to purchase return                        5000

4. We sold goods of 10000 to Sagar (personal a/c and nominal a/c )

Sagar a/c Dr                                  10000

        to sales a/c                            10000

5. Sagar return goods of 5000  (nominal a/c and personal a/c)

Sales return a/c Dr.                       5000

                  To Sagar a/c                5000

6. Cash recievd from Sagar 5000 . (real a/c and personal a/c)

Cash a/c Dr.                                  5000

                  to ravi                         5000

7. Bank deposit with 5000 (personal a/c and real a/c)

Bank a/c                Dr.                   5000

                  to cash                         5000

8. Withdraw from bank Rs. 2000 (real a/c  and personal a/c)

Cash a/c dr                                                2000

                  to Bank a/c                  2000

9. purchase furniture for cash Rs. 7000

Furniture a/c Dr                            7000

                  to cash a/c                   7000

Books of accouts

journal -ledger- subsidiary book - trial balance - Final account

Ledger - Journal-subsidiary book-trial balance -fianl account

Ledger

nacademy.com.np

Nucleus Academy, Koshi Nepal

Nepal Cement Trading Company Bhojpur Nepal

To create Ledger you have to just put right spelling and right group :

Note: Cash a/c and Proft and loss a/c nfO{ n]h/df gof agfO{/fVg' h?/L 5}g . lsgsL lo b'O{ Psfp06x? l8kmN6 ?kdf ag]sf] x'G5 .

ca xfdL dflysf] 8f6fsf] cfwf/df n]h/ agfpg yfNg]5f} .

Accounts	Groups	Account	Group
Ak Sharma capital a/c
PN Bank Accounts	Bank Account	Furniture and Fixtrue a/c	Fixed Asset
Ram wood Works a/c	Sundry Creditors	computer a/c	Fixed Assest
HP Ltd. A/c	sundry Creditors	Advertisement Exp A/c	Indirect Expenses
Rent a/c	Indirect Expenses	Staff Salary a/c	Indirect Expenses
Tea Exp a/c	Indirect Expenses
Purchase a/c	Purchase	ACC LTd	Sundry creditors
JK White Cement Ltd a/c	Sundry Creditors	Sales a/c	sales
Deepak Kumar a/c	Sundry Debtor

Some important things for Tally for vocher entries

F2 :- Change the date of vocher

f4 Contra :- Deposit cash deposit in bank , cash withdraw from bank , loan from bank , loan repayment to bank (Don't entry related with bank cheque only entry with cash "

F5 Payment Vocher : - If we paying money for our business using cheque or cash . such as salary ,

F6 :- Reciept Vouchar :-  When you received money or cheque you have to use this vochare .. 

F7  Journal voucher :- If there is no coming cash or bank in the journal entries then you have to use this voucher , such as purchase return , sales return , 

F8 Sales Vocher :- When you sales good in credit then you have this voucher . (If there is no coming Dr or Cr Then press Ctrl +V to change in accounting mode . from invoice mode )

F9 Purchase Voucher :-   When you purchase goods in credit then you have to use this purchase voucher .

Adjustment entries :- Where The Dr and cr will not come in journal entries , It is known as adjustment entries . it will prepared in end of financial year or in the end of the month .

Purchase return -  We  purchase good from suresh of rs 5000 and return 1000 .

Sales Return (Expenses ) - Eg. Ramesh return Rs. 2000 of goods .

Credit purchase :- We purchase computer from ABC computer for use .

Donation :-  if we give a good as a donation but not cash you should to put in  journal vocher  such as " We give a computer cost of 2000 as a charity / donation  to blind organization . but for the cash you should use payment voucher . charity a/c dr to purchase .

Only goods withdraw for personal use :- If we use any kinds of good from our business for business use . Drawing a/c dr to Purchase a/c

Goods Distriibutes as free sample :-  Free sample a/c dr to purchase

Loss by fire : Money loose by fire of Rs. 1000 . Loss by fire a/c dr to purchase

Insurance company claim accepted but not paid the cash :- Insurance company dr to Loss by fire a/c

Depreciation :-  Depreciation a/c dr to computer a/c

We need to entries all the Prepaid Expenses , Outstanding Income , Provision for debt , Outsanding expenses , Depreciation  should be put in the end of the year .

Discount Related entries :- (Reciept and Payment Vochers should be use )

Discount Types (i) Cash Discount (CD)(II) Trade discount

Cash Discount is that kinds of discount which is given in Cash but not allicapble in credit transaction  . It have also two types . 1: Discount Received (Profit)  Eg. Good purchase on 10%CD Then entries should be Purchase a/c dr , to cash a/c  , To Discount received  2) Discount Paid (Loss) Eg. Good sold on 10% Cd Then the entries should be  cash a/c dr , Cash discount a/c dr To sales .

II) Trade Discount (TD)  should count directly , should not entry separately like CD eg. Good purchase in  10000 with discount of 10% TD . The entries should be Purchase a/c Dr 9000 to cash a/c 9000 in Payment  vocher . another Eg . Good sold on 10000 with 10% TD  Then the entries should be cash a/c dr to sales a/c in receipt voucher . but if good sold to Ramesh with 10% Td  Then you should to use the F8 Sales Voucher .

How to see the final account in tally ?

Final Account Respresent the company Financial position . Final account made by company transaction and company business type .

Types of final account

1. Trading account 2. Profit and losst account 3 Balance sheet

How to see the trading account ?

The section above indirect expenses and Gross profit is known as a Trading account . If you want to see in detail you have to press ALT+F1 , 

In the head section there is date . You can see there which period or which fiscal year account is this ?

Dr side - All the expenses which is necessary to run your business .  Such purchase , Direct expenses , wages ,  rent , power bill , electricity bill and many more

Note: The opening stock always display in Dr side of trading account .

Cr. side :-  all the incomes of your business could display in the Cr side . such as Sales , Sales return .

Note:- closing stock will be display in CR side .

Computer will show our  the gross profit after deduction of all the expenses in dr side with income side (CR side)

Gross profit (GP)= Income - expenses

How to see the P/L account ?

In the PL account Dr side , it will show all the indirect expenses . which is related offices expenses , The all the expesense to operate your offices . These kinds of expenses will be shown on this side .  such as bank charges , charity , dis paid , free sample , light fee , loss by fire , salary .

In the PL account CR Side , it will show all the indirect incomes , which you will received without selling goods such as commission receive , Dis. Received , bad debt recovered , interest received kinds of ledger .

Total of PL account CR =  GP + Indirect incomes

Net profit (NP)= Totalof PL a/c - Indirect Expenses

another important note :- sometime power bill and wages will be shown in PL account Indirect expenses cause of putting in wrong groups . Power bill and wages should be put in always should be direct expenses .

 How to see the final  account ?

Too see the detail of balance sheet , You have to press like before ALT+F1 too see all the period ALT+F2 .

In the liabialities ,

Capital - investment by owner

Drawing - it will shown after less

loan- it is the liabalities because you have to pay

Sundry crediter :- You purchase some goods with your crediter .

In the asset it wil shown Fixed assest , Investments (mutual funds , shares ) and current assests . a

Note : if you want to see detail of any topic you have to go in related topic and you have press in the enter .

Shortcut keys for tally

F1	To open Accounting VoucherMenu , Gateway of Tally>Inventory Voucher	At the Inventory,Payroll, order voucher creation or alteration screen.
Alt+F1	To open Inventory vouchers entry Menu ,Gateway of Tally> Inventory Voucher Menu	,,
Ctrl+F1	To open Payroll VoucherMenu, Gateway Of Tally > Payroll Voucher	,,
Ctrl+F2	To open order voucherGateway of Tally > Order Voucher	,,
	ACCOUNTING VOUCHER SHORTCUT KEYS
Ctrl + F10	To open Memorandum voucher	At Accounting / Inventory Voucher creation and alteration screen
CTRL+F9	To open Debit Note voucher	,,
CTRL+F8	To open Credit Note voucher	,,
F10	To open Reversing Journal voucher	,,
F9	To open the Purchase voucher	,,
F8	To open the sales voucher	,,
F7	To open  Journal voucher	,,
F6	To open Receipt voucher	,,
F5	To enter Payment voucher	,,
F4	Open Contra voucher Entry	,,
	ORDER VOUCHER SHORTCUTS
ALT + F4	To open the Purchase Order VoucherType	At Accounting / Inventory/Payroll Voucher creation and alteration screens
ALT + F5	To open the Sales Order Voucher	,,
ALT + J	To open Job Work out order	,,
ALT + W	To open Job Work in order	,,
	INVENTORY VOUCHER SHORT CUTS
CTRL + W	You can open the new voucher type Material In	These shortcuts are available when you are creating or editing Accounting vouchers, inventory vouchers , payroll vouchers, order vouchers
ALT +F6	You can access Rejection Outvoucher	,,
CTRL + F6	To access Rejection in voucher	,,
ALT + F7	This will open Stock journal voucher	,,
ALT + F8	To open the Delivery Note Voucher Type	,,
ALT + F9	To open the Receipt Note Voucher Type	,,
ALT + F10	To open the Physical Stock Voucher Type	,,

Shortcut Key for Voucher entry

The below mentioned shortcuts are very important for a data entry operator of tally, This will help you in speed up voucher entry. These includes duplicating an entry  insert a voucher in between lines of a report, creating ledgers, stock item ,units, groups during voucher entry, basic operation like canceling and deleting of vouchers. etc

Shortcut Key	Usage of key	Available at
ESC	To remove what you typed into a field	All data entry or typing field
ALT + D	To delete a master	All the reports screen which can be viewed in columnar format
ALT+C	To go to calculator from any amount field in any voucher entry screen	At all voucher entry screens in the Amount field
ALT + X	To cancel a voucher in Day Book/List of Vouchers	At all voucher screens
CTRL + A	To accept a form – wherever you use this key combination, that screen or report gets accepted as it is. This is a quick save option.	,,
CTRL + V	To toggle between invoice and voucher mode	At creation of Sales/Purchase Voucher screen
ALT+ V	From Invoice screen to bring Stock Journal screen	At Invoice screen > Quantity Field > Press Alt + V to select the Stock Journal.
ALT + I	To insert a voucher	At List of Vouchers – inserts a voucher before the one where you positioned the cursor and used this key combination.
ALT + A	To Add a voucher just after the cursor placed in a list of vouchers	At List of Vouchers – Like in day book, ledgers, sales registers to adds a voucher after the one where you positioned the cursor and used this key combination.
ALT + I	Toggle between the item & accounting invoice	At purchase and sale voucher entry screen
ALT + 2	Shortcut to duplicate a voucher	At sales ledger, day book, ledgers, place the cursor on the entry and press this shortcut key to duplicate the voucher.
ALT + D	To delete a voucher	At Single Voucher and Master alteration screens. Masters can be deleted subject to conditions, like no entry has been posted with that masters.
CTRL + L	To mark a Voucher as Optional	At the creation and alteration of Vouchers
CTRL + ENTER	To alter a master while making an entry or viewing a report	At voucher entry and alteration screens
ALT+C	To create a master at a voucher entry screen	At voucher entry and alteration screens, at a field where you have to select a master from a list. If the necessary account has not been created already, use this key combination to create the master without quitting from the voucher screen. Like ledger, stock unit,stock item, category,groups etc.
Alt + S	To view Stock Query report	At all Voucher Creation and Alteration screens where inventory is applicable except Contra, Reversing Journal, Memorandum and Physical Stock  Voucher

Company specific Shortcut keys

The company specific key board shortcuts are generally applicable to companies basic operation like opening & shutting     period changing,  rewriting of company data etc. these keys are very helpful for a faster data entry in tally.

Keyboard Shortcut	Function of keys	How & where to use
F3	To change existing company while you work with tally	This shortcut key active only if you loaded multiple companies, available in almost all screens
F3	To select Company Statutory & Taxation features, where you can activate TDS, GST TCS and other statutory features	At F11: Features screen
F2	To select company inventory features	At the F11: Features screen
F2	To change the current date	At almost all screens in TALLY.ERP 9
F12	To get configuration screen of particular screen	Almost all screens in tally, this shortcut key is screen specific, help you to get additional options of the screen.
F11	Features Screen, To access Accounts, Inventory, Statutory & taxation ,TSS and addon features.	This is available for almost all screens.
F1	To select the accounting features	At the F11 Features screen.
F1	Selection of company already created	At all masters menu screen, In reports and voucher entry screens this tally shortcut key is not available
CTRL + Q	To abandon a form – wherever you use this key combination, it quits that screen without making any changes to it.	At almost all screens in TALLY.ERP 9.
CTRL + K	To Login as Remote Tally.NET User	,,
CTRL + H	To access Support Centre. Wherein you can directly post your queries on the functional and technical aspects of Tally.ERP9, Shoper and Tally.Developer.	,,
CTRL + Alt + R	Rewrite data for a Company	From Gateway of Tally screen
CTRL + ALT + F12	Advanced Table Configuration	At Gateway of Tally
CTRL + ALT + B	To check the Tally erp 9 versions built details displayed at calculator	At all the menu screens
ALT + O	To upload the report at your website	At all reports screens of tally
ALT + K	To select the Keyboard Configuration	At almost all screens
ALT + H	To access context sensitive help	At all screens
ALT + G	To change the Language at Configuration screen	At almost all screens in TALLY.ERP 9
ALT + F3	To select the company info menu To create/alter/shut a Company	Almost all menus
ALT + F2	To change the period	At almost all screens in TALLY.ERP 9
ALT + F1	You can close the company using this shortcut key	Almost all menus screens of tally

Shortcut Keys for Tally Reports

These are report specific shortcut keys, These keys enhance the way you view and print the report of tally erp 9. You can view detailed as well as condensed reports, View in columnar mode, removing a line or lines in the report , to view a line with all details of data entered etc. These are very useful keys.

Shortcut Keys	Function of the short cut	Where you can find
SHIFT+ENTER	To explode a line into its details	all reports , in a group, stock group, cost category, godowns, stock category – displays sub-groups and ledgers,stock items,cost centers,secondary godowns,secondary stock categories In a voucher – displays its entries and narration In a stock item- displays its godowns and batch details In the Voucher Register screen – displays the next level details In Trial Balance – displays the next level details
ALT+N		To view the report in automatic columns
ALT+M	To Email the report	At all reports screens
ALT + P	To print the report	,,
ALT+E	To export the report in ASCII, Excel, HTML OR XML format	,,
ALT+F1	To view detailed report	,,
ALT + F12	To filter the information based on monetary value	,,
SPACE	To select the line to delete/hide	,,
CTRL + SPACE	To select all the line at one instance to delete/hide	,,
CTRL + ALT+ A	To select all the line at one instance to delete/hide	,,
ALT+F5	To view monthly and quarterly report	,,
ALT+C	Adds a new column to the report	At balance sheet
ALT + D	To delete a column in any columnar report	at columnar report
Alt + Enter	To view the Voucher display	At Day Book and almost all Voucher Reports
ALT + F8	To view the Columnar report	At Ledger Voucher screen
CTRL + S	Allows you to alter Stock Item master	At Stock Voucher Report and Godown Voucher Report
AT+F7	To accept all the Audit lists	At Tally Audit Listing screen
SHIFT + ENTER	Collapse next level details	At Voucher Register screen and Trial Balance report
ALT + S	To bring back a line you removed using ALT + R	In all reports
ALT + U	To retrieve the last line which is deleted using Alt + R	,,
ENTER	To get a report with further details of an item in a report	,,
Alt+F1	Toggle between detailed or condensed report	,,

Tally master related shortcut keys

These are related to master creation alteration, like ledgers, groups  cost centers, go downs

Shortcut keys	Function	Available at
CTRL + C	Cost center creation screen	at voucher type ,group, ledger ,cost centers, cost categories, budget,scenarios creation alteration screen
CTRL +O	To access employee group creation screen	,,
CTRL + E	To access pay head creation screen	,,
CTRL + P	To access Employees creation screen	,,
CTRL + T	To access attendance / production type creation screen	,,
CTRL + B	To select the Budget	At Groups/Ledgers/Cost Centers/ Budgets/Scenarios/Voucher Types/ Currencies (Accounts Info) creation and alteration screen
CTRL + B	To select the Cost Centre creation screen.	At Groups/Ledgers/Cost Center/ Budgets/Scenarios/Voucher Types/ Currencies (Accounts Info) creation and alteration screen & At Stock Groups/ Stock Categories/ Stock Items/ Reorder Levels/ Godowns/ Voucher Types / Units of Measure ( Inventory Info) creation/alteration screen
CTRL + G	To select the Group creation screen	At Groups/Ledgers/Cost Centres/ Budgets/Scenarios/Voucher Types/ Currencies (Accounts Info) creation and alteration screen
CTRL + I	To select the Stock Items	At Stock Group/ Stock Categories/ Stock Items/ Reorder Levels/ Godowns/ Voucher Types / Units of Measure ( Inventory Info)  creation/alteration screen
Ctrl + Alt + I	To import statutory masters	At all menu screens
CTRL + L	To select the Ledger	At Groups/Ledgers/Cost Centres/ Budgets/Scenarios/Voucher Types/ Currencies (Accounts Info) creation and alteration screen
CTRL + O	To select the Godowns	At Stock Group/ Stock Categories/ Stock Items/ Reorder Levels/ Godowns/ Voucher Types / Units of Measure ( Inventory Info)  creation/alteration screen
CTRL + V	To select the Voucher Types	At Groups/Ledgers/Cost Centres/ Budgets/Scenarios/Voucher Types/ Currencies (Accounts Info) creation and alteration screen
ESC	To indicate you do not want to accept a voucher or master	At master creation screen, and voucher entry screen

Narration Related shortcut keys

There are few shortcut keys which will help you in typing narrations. This will save your time.

Shortcut keys	Functions	Where you can find
ALT + R	To repeat the narration in different voucher type	At all Vouchers
CTRL + R	To repeat narration in the same voucher type	At creation/alteration of voucher screen
CTRL + ENTER	To get a line break in the narration field, if you want to start from the second line after few words, hit this key	At narration field of tally
ALT + CTRL+ C	To copy narration in tally	any existing narration field
ALT + CTRL+ V	To paste any texts copied from narration field or any other windows text editor	at narration filed or text field like terms and conditions of tally

Printing & Navigation related Shortcut keys in tally

Here are some of the shortcut keys related to printing & navigation. Navigation is most important as far as a user is considered, he can move through tally with ease. Printing related shortcut keys helps you in printing invoices reports, vouchers quickly.

Shortcut keys	Function	Available at
	NAVIGATION SHORTCUT KEYS
ESC	To come out of a screen	In all menus and reports
ENTER	To accept a voucher or master	At the receivables report – press Enter at a pending bill to get transactions relating to this bill (e.g., original sale bill, receipts and payments against this bill, etc)
ENTER	To accept anything you type into a field.	You have to use this key at most areas in TALLY.ERP 9
PgDn	Display next voucher during voucher entry/alter	At voucher entry and alteration screens
PgUp	Display previous voucher during voucher entry/alter	At voucher entry and alteration screens
	PRINTING SHORTCUTS
ALT + N	To select auto column for printing	At printing configuration screen after you click on print button or ALT+ P of a report, voucher etc
ALT + S	To select printer for printing	,,
ALT + C	To select the number of copies to be printed	,,
ALT +F	To select the format of printing	,,
ALT + R	Toggle between printing on plain paper and pre- printed material	,,
CTRL + G	To select the page range for printing	,,
ALT + T	Titling of a report	,,
ALT + I	Toggle between No preview and with preview	,,
ALT + L	Printing languages	,,
Alt + Z	To zoom in to the print preview to 100% screen	At all print preview screens that appear on pressing Alt+P with the option I: With Preview enabled
+	To zoom in to the print preview	At all print preview screens that appear after pressing Alt+Z
–	To zoom out of the print preview	,,
CTRL + Scroll wheel (Mouse Wheel)	To zoom in to the print preview	,,
SHIFT + Scroll wheel (Mouse Wheel)	To scroll horizontally – left to right or right to left	,,
SHIFT + Right or Left arrow	To scroll horizontally – left to right or right to left	,,

Example number one

s.n.	Ledger	Group head
1.	capital a/c	capital account
2.	vehicle a/c	fixed assests
3.	furniture a/c	fixed asset
4.	bank of Nepal	bank account
5.	purchase account	purchase account
6.	sales a./c	sales a/c
7.	sujit a/c	sundry debtor
8.	Telephone bil a/c	indirect expenses
9.	commission Received a/c	indirect expenses
10.	Himanshu sales a/c	sundry creditors
11.	purchase return a/c	purchase a/c
12.	salary a/c	indirect expenses
13.	janta bank a/c	loan(liabili8ty)
14.	advertisement expenses a/c	indirect expenses
15.	office rent a/c	indirect expenses
16.	Dhiraj a/c	sundry debtors
17.	sales return a/c	sales
18.	electricity bill a/c	indirect expenses
19.	vehicle depreciation a/c	depreciation
20.	furniture depreciation	depreciation
21.	bills receivable a/c	current assests
22.	kishor a/c	sundry creditor
23.	bills payable a/c	current liability
24.	mandar a/c	sundry debtor
25	sum microsystem a/c	sundry debtor

Example number two

S.N.	ledger name	group head
1.	ram a/c	sundry creditors
2.	manoj a/c	sundry creditors
3.	ravi a/c	sundry debtor
4.	raju a/c	sundry debtor
5.	century bank a/c	bank
6.	computer a/c	fixed assest
7.	printer a/c	fixed asset
8.	furniture a/c	fixed assests
9.	land a/c	fixed assest
10.	machinery a/c	fixed asset
11.	income tax	liabilities
12.	wages payable	liabilities
13.	accounts payable	liabilities
14.	salarys payable	liabilites
15.	raw materials a/c	current assest
16.	inventory a/c	current asset
16.	prepaid insurance	current asset
17.	prepaid expenses	current assest

Stock with inverntory

Important things :- Before  working start with stock with inventory ,  we should to create some ledger , such as  sales a/c , sales return , purchase , purchase return , ram sundry debtor , shyam sundry creditor , from account info.

Stock group : Means Types of business , example if you are running a business of clothe , furniture , computer , restaurant etc . if you are doing business of clothe , clothe will be the stock group , if you are doing the business of furniture then furniture will be the stock group .

Stock items :  Which things you will sell and buy that is known as stock item .

in this session we are  maintaining of  shoes inventory stock

So today we wil learn to manage stock with accounting . Today we will learn how to handle stock , unit of measure , how to see stock summary , what is inward and outward and how to see the closing balance .

Important ledger we should to create before starting

1.      Sundry debtor (Eg , Ram Shyam etc)

2.      Sundry creditor (Eg, Hari , Kiran etc)

3.      Sales

4.      sales return

5.      purchase

6.      purchase return

First of all we should to create some stock group .

In this practice session we will make Shikhar shoes , Goldstar shoes , Magic chapple

Now we should to come back with esc and start to input stock items (Which goods are for sales and purchase , known as a stock items) When you will create some stock item the tally will ask you to make choose unit . In that time you have to press ctrl +C for the shoes we will put the number (NOS) unit . then we will save it . Now we don't have any opening balance so we will not enter any kinds of number and we will leave it blank .

Now we will start our some new journal entries here and some rules will be different with account only . because we are working in account with inventory .

Note: We should to entry every purchase entry even in credit should to entry in purchase .

Now we should to work in Invoice mode . In the invoice mode there is no more Dr and cr . Now we should to enter the bill number in Ref. if you are purchase in cash you should to choose the cash in party name . Now  if you want to fill some suppliers detail you can fill here . Now you should to choose the purchase group . Then you should to press Ctrl + A to save it . same rule apply in other account also like purchase a/c

Bill wise Acconting :

We will do bill wise accounting when your suppliers gives you a bill or when you sell goods to somebody and you will give them bill . Then we will use this Bill wise accounting . This types of accounting only works in account with inventory ,.

For this You have to activate some features

Types of Bill adjustment .

1. New Ref. (New reference)
2. Agst Ref.(against Reference)
3. Advance
4. On demand

1. New Ref.

When you will give new bill to your customer or you will receive a new bill then you should to use this new reference adjustment .

Eg. Bill Num : 001 You purchase good from ram in 2018 april 8. of 2000.

Bill Num:002 – Again you purchase good from ram in 2018 april 9 of Rs. 10000.

Bill Num:005 – You purchase good from Kabita and sons in 2018 april 10 Rs. 10000.

Bill Num : 1 , You sold goods to Mr. Suresh of rs 5000.

Note:- You  can use this adjustment in only sales and purchase voucher .

2. Agst Ref. (Against Reference)

When you paid to some parties or you will receive some payment from  any parties should to use against reference . When you choose agst ref then you should to choose bill from name section . But some company use FIFO (First in First method ) or some company use LIFO(Last in First OUT method) its depends on company policy .

We can use this adjustment in purchase return and sales return also .

Eg. We are paying bill of mr. ram in 2018 april 11 Rupees. 2000.

We Return our goods to Mr. Ram in 2018 April 12 Rupess 5000.

Note: Don’t change the default bill type . agst ref only showed in payment and receipt and journal voucher .

3. Advance

You should to use this bill when you receive cash in advance or you will pay cash in advance in payment voucher ,. then you should to choose this option .

EG 2018 april 15  received money from Anjali Rs. 5000 in advance

Now you should to sell to mrs Anjali of rs Rs. 2000 in  same date

Note: you should to use only receipt or payment voucher only for this adjustment .

4. on account

We should to use this bill for only specific entry . Such as some party pays the bill in cash but this is dishonoured  or You are trying to charge some interest in some parties ledger you should to use this adjustment .

Today we will learn how to see the outstanding balance using tally of your customer. We will learn to check customer outstanding bill , customer dues amount , and how  can you print that report etc.

To see all the report we should to go in Display . Then we should to go In statements of accounts . When we give any goods , how amount is due we can check all the report from outstanding . and how amount remaining to pay then we can go in payable .

Debit Note / Credit Note

Today we will learn how can we use Debit note , Credit Node. When our business will increase , Our transaction will be more tough . When our business start to grow and transaction will be also increase then we should to use debit and credit note for sales return and purchase return statement. Before we are using journal voucher if there was no cash and check in cr and dr . To activate this feature , You have to go in tally then just make ' yes'  in use Debit/credit notes option.

Why we should to use Debit note / credit note ?

We can still use journal for sales return and purchase return but there is no option for invoice mode . If we want to  work in invoice mode then you should to use the debit and credit note .

IN which condition we should to use debit/ credit note?

First condition

When we purchase goods for any party , Then you will get some units is bad .Then you should to use sales return . For the purchase return you can use debit notes .  Example you purchase shoes from ram but some pair of shoes is not good condition . Then you should to use debit note.

Second condition :

If you ask some goods with your supplires . but some units of goods are  found as different quality . then you contact your supplier . Then you inform him  that you giving return some bad goods but your suppliers told you that not to return goods . And he give you offer ,; Don't return good but I will give you discount and sell them . In this condition you're recieveing some discount then you should to use debit note. But you have to entry dr/cr mode for this.  and you have enter suppliers a/c dr to discount received ledger . You  shouldn't work in invoice mode in this situation .

IN which condition we should  to use credit note ?

first condition

When we sold goods to any parties but he will return goods to us . Then we should use the credit note . We should to put the bill number in reference number then we should post our entry .

second  condition

When we sold goods to our customer and we issue a bill . When he received his bill and he inform that our goods are more expensive and he ask us discount . Then again we should to use again accounting mode (dr/cr mode) . to change invoice mode in accounting mode then we should to use press the ctrl +v. and we should to use discout paid .