Besant Tally Course Syllabus is framed byTally certified experts which will help you to understand how to perform Accounting , Inventory and Basic Taxation (GST , TDS ) from the basic to advanced level . This tally erp syllabus makes you expert in Accounting and Finance domain from the scratch.
BASIC OF ACCOUNTING
• Introduction
• Types of Accounts
• Accounting Principles or Concepts
• Mode of Accounting
• Rules of Accounting
• Double –entry system of bookkeeping
INTRODUCTION :-
Accounting is a means by which necessary financial information about business enterprise is communicated and is also called the language of business.
TYPES OF ACCOUNTS :-
Here's an overview of some common accounting types a business may need: Financial accounting. Managerial accounting.
• Financial accounting.
• Managerial accounting.
• Cost accounting.
• Tax accounting.
• Auditing.
ACCOUNTING PRINCIPLES OR CONCEPTS :-
Accounting principles and concepts determine income, expenses, assets and liabilities for financial reporting. Companies implement these principles while preparing financial statements to make them consistent and complete. These properly formulated financial statements help investors in analyzing useful information.
MODE OF ACCOUNTING :-
There are different types of accounting which are as follows:
• Cost Accounting. Cost accounting aims to record the total production cost of a business
• Financial Accounting
• Managerial Accounting
• Tax Accounting
• Forensic Accounting
• Helps to Create Budget
• To Obtain Loans From Banks
• Decision Making
RULES OF ACCOUNTING :-
• Revenue Recognition Principle. When you are recording information about your business, you need to consider the revenue recognition principle.
• Cost Principle.
• Matching Principle.
• Full Disclosure Principle.
• Objectivity Principle.
DOUBLE – ENTRY SYSTEM OF BOOKKEEPING :-
Double-entry bookkeeping is a method of recording transactions where for every business transaction, an entry is recorded in at least two accounts as a debit or credit. In a double-entry system, the amounts recorded as debits must be equal to the amounts recorded as credits.
FUNDAMENTALS OF TALLY. ERP 9
• Company Features
• Configuration
• Getting functions with Tally. ERP9
• Creation / setting up of company in Tally. ERP9
Accounting Masters in Tally. ERP9
• Chart of Groups
• Groups
• Multiple Groups
• Ledger
• Multiple Ledgers
GROUPS :-
ERP 9 provides you with 28 pre-defined Groups . Of these 15 are Primary Groups and 13 are Sub-Groups . You can also create your own groups, either as Sub-groups or Primary groups . Groups can be sub-classified to an unlimited level to give a virtual accounting tree.
LEDGER :-
Ledger is the actual account head to identify your transactions and are used in all accounting vouchers. For example, purchase, payments, sales, receipts, and others accounts heads are ledger accounts. Without a ledger, you cannot record any transaction.
Inventory Masters In Tally.ERP9
• Stock Groups
• Multiple Stock Groups
• Stock Categories
• Multiple Stock Categories
• Units of Measure
• Stock Items
STOCK GROUPS :-
Stock Groups in Inventory are similar to Groups in Accounting Masters. They are helpful in the classification of Stock Items. You can group Stock Items under different Stock Groups to reflect their classification based on some common features such as brand name, product type, quality, and so on.
UNITS OF MEASURE :-
The quantity in turn is measured by units. In such cases, it is necessary to create the Unit of Measure. The Units of Measure can either be simple or compound. Examples of simple units are: nos., metres, kilograms, pieces etc.
STOCK ITEMS :-
Stock Item refers to goods that you manufacture or trade. It is the primary inventory entity and is the lowest level of information on your inventory. You have to create a Stock Item in Tally.
VOUCHERS ENTRIES IN TALLY.ERP9
• Introduction
• Types of Vouchers
• Chart of Vouchers
• Accounting Vouchers
• Inventory Vouchers
• Invoicing
INTRODUCTION :-
A voucher is a document that contains details of a financial transaction and is required for recording the same into the books of accounts. For every transaction, you can use the appropriate Tally voucher to enter the details into the ledgers and update the financial position of the company.
TYPES OF VOUCHERS :-
There are broadly Nine voucher types in tally.
• Sales Voucher.
• Purchase Voucher.
• Payment Voucher.
• Receipt Voucher.
• Contra Voucher.
• Journal Voucher.
• Credit Note Voucher.
• Debit Note Voucher.
SALE VOUCHER :-
Whenever you sell a product or service, you record sales entries. In tally, the sales are recorded through the sales voucher. It is one of the most widely used accounting vouchers in tally. There are two modes for accounting in sales vouchers- Invoice mode and Voucher mode. You can use either of them. You can print the copy of your invoice to the party in Invoice mode. In Voucher mode, you can record the transaction for statutory purposes where you don’t need to print the invoice document.
PURCHASE VOUCHER :-
Whenever you purchase a product or service, you record the purchase entry. In tally, this is recorded through the purchase voucher. It is also one of the most widely used vouchers in tally. There are two modes for accounting in purchase vouchers- Invoice mode and Voucher mode, as mentioned in the sales voucher. You can use either as you see fit. You can print the copy of your invoice to the party in Invoice mode. Whereas in Voucher mode, you can record the transaction for statutory purposes, and you don’t need to print the invoice document. You can also change the mode of transaction like in the sales voucher in Tally.
PAYMENT VOUCHER :-
All the functions of a payment transaction are available in Tally. You can have all the necessary details like instrument number, Bank name, balance available, etc. After passing the entry in the payment voucher, you can also print the cheque. You can look at the list of cheques that need to be printed by going to Banking and clicking on Cheque Printing. Tally.ERP 9 supports around 500 banks from both India and foreign countries. After the payment is made, you can generate and share the payment receipt with your supplier and keep them updated regarding payments.
RECEIPT VOUCHER :-
When you receive payment, you can record that transaction in the receipt voucher. You will even get a prompt for the pending payments from your customers. You can record transactions when you receive the payment and select the correct mode to receive the payment- cash, cheque or other modes- and mention the relevant instrument number. With receipt vouchers, now you can maintain transparency of your sales with your clients effectively.
CONTRA VOUCHER :-
Contra Voucher is used when either side of the entry has cash, bank or multiple banks involved. Generally, any cash deposit, withdrawal, transfer amongst different accounts are recorded in a contra voucher. You can also generate a cash deposit slip and mention the denominations of the currency involved in such a transaction.
JOURNAL VOUCHER :-
This voucher can be used for multiple reasons. Some use it for sales, purchases, depreciation; any adjustment entry can also be done using this voucher in Tally. This voucher is available in both accounting and inventory vouchers in Tally. In inventory mode, the entry relating to the movement of goods can be passed.
CREDIT NOTE VOUCHER :-
Credit Note entry is passed when there is a sales return transaction. This voucher usually remains deactivated by default. You can activate it by pressing F11 and configuring features in invoicing. You can refer to the original sales invoice against which this entry is passed to keep track of such transactions. When a party is selected, you will come across the list of invoices against which this credit note voucher is used. Credit notes can also be used either in invoice mode or as voucher mode as could be used in Sales Voucher.
To Activate the Credit Note and Debit Note feature, you can select F11 and activate the credit and debit note feature as under.
DEBIT NOTE VOUCHER :-
Debit Note entry is passed when there is a purchase return transaction. This voucher is deactivated by default. You can activate it by pressing F11 and configuring its features. You can refer to the original purchase invoice against which this entry is passed for maintaining track of such transactions. When a party is selected, you will come across the list of invoices against which this Debit note voucher is used. Debit notes can also be used either in invoice mode or voucher mode as utilised in Purchase Voucher.
INVOICING :-
Invoice mode is suitable to when you are billing inventory. Accounting invoice' is suitable for recording service bills and 'As voucher' to record the transactions in “Dr CR” mode. Based on the comfort or business use, you can change the format that suits you.
Advance Accounting In Tally.ERP9
• Bill Wise details
• Cost centres and Cost Categories
• Multiple Currencies
• Interest calculations
• Budget and controls
• Scenario management
• Bank Reconciliation
BILL WISE DETAILS :-
'Bill wise Details' hence can be used to track the details of any already made or due payments and also to generate payables or receivables reports with minimum effort. How to activate: Go to Gateway of Tally > Press - F11: Accounting Features > Set 'Yes' to 'Maintain Bill wise Details (for Non-Trading A/c s also).
COST CENTRE AND COST CATERGORIES :-
In Tally. ERP 9, the cost centre could refer to an organizational unit to which costs or expenses can be allocated during transactions while the cost category is used to accumulate costs or profits for parallel sets of cost centres.
BANK RECONCILIATION :-
Bank Reconciliation Statement is an explanation of the difference between bank balance as per cash book and bank balance as per Passbook (Bank statement). Sometimes, the bank balance as per cash book and pass book do not tally with each other, then we can know the difference between them by preparing the bank reconciliation statement.
Advance Inventory In Tally.ERP9
• Order processing
• Recorder levels
• Batch –wise details
• Bill of materials
• Create a Company Logo
ORDER PROCESSING :-
In Tally. ERP 9, Order Processing is linked to Inventory. This allows tracking of the order position for a Stock Item. Using this you can track the arrival of goods ordered and whether the ordered Stock Item are delivered on time etc.
BATCH-WISE DETAILS :-
When you wish to maintain batch information for Stock Items , you need to set the option Maintain batch-wise details to Yes in F11: Features (F2: Inventory Features) . In the Item Allocation screen, set the option Maintain in Batches to Yes.
BILL OF MATERIALS :-
Bill of Material is a comprehensive list of raw materials, components, assemblies, sub-assemblies, parts, or anything which is required to manufacture the finished product.
Payroll Accounting In Tally.ERP :-
• Employee Creation
• Salary Define
• Employee Attendence Register
• Pay Heads Creation
• Salary Report
EMPLOYEE CREATION :-
Go to Gateway of Tally > F11: Features > F1: Accounting Features. Tab down to Cost/Profit Centers Management section. Set the option Maintain payroll to Yes. Set the option Maintain more than one payroll or cost category to Yes, to allocate employee cost by creating separate employee categories.
SALARY DEFINE :
• Go to Gateway of Tally > Accounting Vouchers > F5: Payment.
• Press F2 to change the Voucher Date.
• Click A : Payroll Auto Fill.
• Select the Salary in Process for field.
• Enter the From and To dates.
• Enter the required Voucher Date.
EMPLOYEE ATTENDENCE REGISTER :-
• Go to Gateway of Tally > Payroll Info. > Attendance/Production Types > Create.
• Enter the Name of the attendance type.
• Select Primary from the list for the field Under.
• Select the Attendance type as Attendance/Leave with Pay. The Period type appears automatically.
• Press Enter to save.
PAY HEADS CREATION :-
The salary components constituting an employee's pay structure is called a Pay Head. A Pay Head may be an earning to the employee, or a deduction, which is recovered from his/her salary. The value of these pay heads could be either fixed or variable, for each payroll period.
SALARY REPORT :-
The Salary Projection report provides the details of the Earnings and Deduction Pay Head values which are considered for Income Tax for a selected Employees. It provides the projection for twelve months and displays the actuals if payroll is already.
Generating Reports In Tally.ERP9
• Financial Statements
• Trading Account
• Profit & Loss Account
• Balance Sheet
• Accounts Books and Reports
• Inventory Books and Reports
• Exception Reports
• Statutory Reports
• Payroll Reports
• Trail balance
• Day book
• List of Account
• Stock Summary
• Outstanding Statement
• Batch wise Details
• Different Actual and Billed Quantities
• Price Lists
• Zero – Valued Entries
• Additonal cost Details
• POS
FINANCIAL STATEMENTS :-
The Salary Projection report provides the details of the Earnings and Deduction Pay Head values which are considered for Income Tax for a selected Employees. It provides the projection for twelve months and displays the actuals if payroll is already...
TRADING ACCOUNT :-
Opening stock details of raw material, semi-finished goods and finished goods. Closing stock details of raw material, semi-finished goods, and finished goods. Total purchases of goods fewer Purchase Returns. Total sales of goods fewer Sales Returns.
PROFIT & LOSS ACCOUNT :-
Specified The Profit & Loss A/c is a periodic statement, which shows the net result of business operations for a period. All the expenses incurred and incomes earned during the reporting period are recorded here.
BALANCE SHEET :-
A balance sheet is a financial statement that reports a company's financial position. This report shows the balance between the assets and liabilities of a firm.
ACCOUNTS BOOKS AND REPORTS :-
In Tally.ERP 9, as soon as the transactions are entered they are immediately posted to the respective ledgers, books and registers thereby facilitating instant reporting and faster decision.
INVENTORY BOOKS AND REPORTS :-
The transactions entered in Tally.ERP 9 are immediately posted to the respective ledgers, books and registers. The inventory reports are generated based on these transactions.
STATUTORY REPORTS :-
In Tally, the features of statutory and taxation consist of configuration and functions related to statutory compliance for company. The features of statutory are related to country-specific and depend upon the country. The following features are available for statutory and taxation: Goods and Service Tax (GST).
PAYROLL REPORTS :-
An employee-wise payroll report gives the payroll details of each employee. They are employee-specific extracts of the company's payroll register, called the employee earnings report or a paystub. It gives a detailed calculator of the employee's wages, taxes, and deductions.
TRAIL BALANCE :-
A trial balance is a summary of all ledger balances, and helps in checking whether the transactions are correct and balanced.
View Trial Balance
• Go to Gateway of Tally > Display > Trial Balance.
• Press F12 to configure the Trial Balance , as required.
• Press Ctrl+A to accept.
DAY BOOK :-
ERP 9, the Day Book is by default displayed for the current date (as on the last date of voucher entry). However, you may specify the required period, as per your requirements.
Go to Gateway of Tally > Display > Daybook.
LIST OF ACCOUNTS :-
The three different types of accounts in accounting are Real, Personal and Nominal Account.
REAL ACCOUNT :- Real accounts are those accounts which are related to assets or properties or possessions. It includes both tangible and intangible.
i.e :- Plant and Machinery, Stock, Cash, Vehicle, Goodwill, Trademark, Patents & Copyrights, Intellectual Property Rights etc.
PERSONAL ACCOUNT :- This includes all accounts related persons consist of natural, artificial and representative accounts.
i.e :- Mr Ram’s a/c, A&B Bros trading a/c, salary payable etc.
NOMINAL ACCOUNT :- Nominal accounts are those accounts that are related to expenses or losses and incomes or gains.
i.e :- Wages, Salaries, Rent, Travelling Expenses, Commission received, Loss by fire etc.
STOCK SUMMARY :-
Press F12 (Configure) to change the options and F11 (Features) to enable or disable features. Press F4 (Item) and select a stock item to view the month-wise closing balance of the selected item. Press Alt + F5 to view item summary based on the period you choose - Monthly or Quarterly.
OUTSTANDING STATEMENT :-
The Outstanding Statement in Tally. ERP 9 displays the status of receivables and payables of the business concern. These are the two important components of the working capital of every business entity. Receivables form a major component of current assets whereas payables form a component of current liabilities.
Taxes In Tally. ERP9
• TDS
• TDS Reports
• TDS Online Payment
• TDS Returning filing
• TDS Certificate issuing
• 26AS Reconciliation
• TCS
• TCS Reports
• GST
• GST Returns
• EPF
• ESIC
• Professional Tax
TDS :-
TDS is basically a part of income tax. It has to be deducted by a person for certain payments made by them. In this article, we will discuss in detail the TDS provisions under the Income Tax Act.
TDS REPORT :-
The concept of TDS was introduced with an aim to collect tax from the very source of income. As per this concept, a person (deductor) who is liable to make payment of specified nature to any other person (deductee) shall deduct tax at source and remit the same into the account of the Central Government.
TDS ONLINE PAYMENT :-
Procedure for TDS Payment Online
• Login TIN NSDL Portal. To pay TDS online visit the website of income tax department.
• Select the Relevant Challan. There are different challans used for making various tax payments.
• Fill in the Challan Details.
• Confirm Challan Details.
• Make TDS Payment.
• Online Verification.
