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The Best Tally Interview Questions & Answers (UPDATED - 2019)
The Best Tally Interview Questions & Answers (UPDATED - 2019)
If you're looking for Tally Interview Questions for Experienced or Freshers, you are at right
place. There are lot of opportunities from many reputed companies in the world. According
to research, an average Salary figures for an Tally ERP will be $46,912 - $69,761. So, You still
have opportunity to move ahead in your career in Tally. Mindmajix offers
Advanced Tally Interview Questions 2019 that helps you in cracking your interview & acquire
dream career as Tally.
Warehouse Yes No
Management
4. Filing of tax return, profit and loss statement, preparation of balance sheets, GST, trial balance, Fund
flow statement, etc.
Tally is a solution that integrates the essential functions related to accounting, reporting and
inventory in any organizations. Tally ERP has included many features including Payroll
management, TDS and other tax parameters.
2. Accounting Voucher: Unique ID to each voucher which also ensures that the voucher are numbered
sequentially.
4. Credit Limits: The Credit Limit control set for a dealer will not be applied on sales order. An alert will
be notified of the credit limit, whereas the user can save the voucher
5. GST: GST form details are entered in the invoice in its simplest form & will get printed
6. Excise for Manufacturers: Details of buyers and suppliers is exhibited on the voucher including daily
stock maintenance, according to date, types and Tariff wise
7. Payroll: TALLY ERP 9, enables the giving out salary, according to the National Pension Scheme
8. Tax Audit: Updated with form like 3CB, 3CD and 3CA as per the requirements of the CBDT
9. XBRL: Constrained only for those organizations, having the nature of the report sent to consolidated.
The TDS facilities are the latest feature over the entire scale of TDS related processes,
right from the creation of a TDS liability to discharge and creating the e-file for the same.
In the latest version of this software, the TDS feature has been totally modified with new
features being integrated.
The ability to deduct TDS and also record the liability (as a result of purchase of services)
in a single voucher
We can also opt for creating the TDS liability on a periodic basis.
Nowadays we don’t need to create different ledgers for payments associated or not
associated to TDS, as the same ledger are being used for both transactions.
1. Cash: Under the group Cash-in-hand, cash ledger is created, where the opening balance can be
entered as the books begins from.
2. Profit and Loss Account: This ledger is created under Primary, where previous year’s profit or loss is
entered as the opening balance.
Q: Mention the types of the ledger that can be made in Tally ERP 9.
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1. Generating sales/purchase ledger.
Q: Mention what is the shortcuts for Voucher Creation and Alteration Screen in Tally ERP 9?
Tally ERP 9, allows to create master (ledger, stock item) on the voucher by the shortcut
Alt+C.
To modify any master item on a voucher, we have to select the specific ledger on the sales
voucher screen and press Ctrl+Enter.
Group is a compilation of ledgers of same nature. In any organization, operating costs like
electric bills, telephone bill, conveyance, etc. are commonly included in groups. Ledger based
on these expenses can be created to be used while accounting vouchers are entered. There
are 28 Groups by default in Tally. ERP 9, out of which 15 are Primary Groups and 13 are
subgroups.
Q: Mention the types of vouchers? Also give the shortcut for creating these vouchers?
Contra Voucher - (F4): It points the transfer of funds from a bank account to the cash
account or cash account to a bank account, or in a different bank account of different
banks.
Payment Voucher - (F5): It explains the historical payments on each account like payment
of salary, rental, etc.
Receipt Voucher - (F6): Describes the transactions that relate to payments received.
Journal Voucher - (F7): It maintains the expenses to maintain the organization’s running
costs.
Sales/Invoice Voucher - (F8): This voucher describes the sales made, it displays the sale
invoice
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Credit Note Voucher - (Cntrl+F8): Entry to this voucher is made when a customer returns
the products which wasn’t correctly dispensed.
Purchase Voucher - (F9): Voucher made for items purchased for running the business like
raw materials, etc.
Debit Note Voucher - (Cntrl+F9): Voucher for keeping records when goods are returned
to suppliers due to damage goods.
Reversing Journals - F10: It is a special entry that gets automatically reversed after the
date of the issue.
Memo Voucher - Cntrl+F10: This voucher marks the unknown expense at a moment of
time which can be converted to actual sale voucher, or can be deleted.
Q: Mention the shortcut to retrieve the last line which is removed in Tally ERP 9?
Directory of Tally ERP 9 stores the path to the folder where the data will be stored.
Q: Mention what is the shortcut to recall the last narration saved for the first ledger in the
voucher?
The short cut to recall the last narration stored for the first ledger in the voucher is Alt+R.
Q: Explain the setup process for an employee in Tally ERP 9 for their payroll?
For smooth processing of employees’ salaries, Tally ERP 9 give facility to create the required
groups and classify into different categories like—Employee category, Employee groups and
Employees.
Under employee group creation screen-> Select Primary Cost Category as the Category
Name the employee’s group as “Sales”
Select the group as “Primary”and then click on accept to finish with employee group creation
This is the way for Employee Group Selection.
Under employee master we can incorporate the information about the employees like
constitutional details, passport & Visa, Appomitments Letters, etc.
Q: Explain trial balance and the process to check the trial balance in Tally ERP 9?
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Trial Balance is mainly a synopsis of all the ledger balances and checks whether the
mathematical accuracy and the information is right and balanced. It is a way to verify that the
journal entries are correctly posted in the general ledger. In trial balance, the total of all debt
balances should be equal the total of all the credit balances.
Q: Explain the default configuration of Tally ERP 9 provided for Balance Sheet?
Balance Sheet in Tally ERP 9 displays two different columns with Liabilities and Assets. The
balance sheet also displays the closing balances of all the primary groups and capital
accounts along with the net profit for the specified period as required by the organization.
To view the Books of Accounts on Tally ERP 9, we should press D at the entry of Tally ERP 9
to pull the Display menu.
On the display menu, we have to press A to bring up the Accounts Books menu.
Q: Mention the options available in the Account Books Menu in Tally ERP 9?
3. Ledger
4. Group Summary
5. Sales Register
6. Purchase Register
7. Journal Register
Q: Explain how you can view profit and loss statement in Tally ERP 9?
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To view the profit and loss statement, we should press F1: Detailed which will display the data
based on the default primary groups. With every transaction/voucher that has been entered
instantly.
Q: How can schedule VI profit & loss account be generated using an auditors edition of Tally
ERP 9?
For generating the schedule - VI balance sheet using an auditor’s edition of Tally ERP 9, we
need to go to the gateway of Tally - Audit & Compliance - Financial Statements - Profit & Loss
account. Then, we should Press Ctrl+3 to load the previous year’s company to generate the
Schedule VI profit & loss account with two year’s data.
Tally ERP 9 has a very useful feature of remote connectivity for which we need to have the
following system: -
A licensed version of Tally ERP 9 with a Tally.NET A licensed version of Tally ERP 9
subscription
Q: What is the shortcut to select the credit not voucher in Tally ERP 9?
We should key in F8 (Cntrl+F8), which will enable us to select the credit note voucher in Tally
ERP 9.
Q: What is the shortcut to duplicate a voucher and to add a voucher in Tally ERP 9?
Q: What is the short cut to cancel a day book or list of vouchers in Tally ERP 9?
The short cut to cancel a day book or list of vouchers is ALT+X In Tally ERP 9.
Q: What is the short cut to filter the data based on the monetary value of almost all the
report screens in Tally ERP 9?
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To filter the data based on the monetary value on Tally ERP 9, we should use the short cut
Alt+F12.
Q: Explain the features you can use to convert data to encrypted form in Tally ERP 9?
To convert data in encrypted form to Tally ERP 9, we can use the function of Tally Vault. To
use Tally Vault we should go to the gateway of Tally and key in F3, then we can select the
company for which we want to encrypt the data. Data will be decrypted to only those
systems having valid password and persons can view those encrypted data.
Q: Mention what is the shortcut to select the purchase order voucher type?
Shortcut ALT+F4 is used to select the purchase order voucher type, at accounting and
inventory voucher creation and alteration screens.
We can use the shortcut Ctrl+Alt+C to copy text and shortcut Ctrl+Alt+V to paste the copied
text.
We can use the shortcut Ctrl+Alt+B to check statutory details from any screen.
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