Tally Note

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