Tally is a system of maintaining financial data.

Tally is an accounting package.

Earlier Versions of Tally were: -

Tally 4.5, 5.4, 6.3, 7.2, 8.1, 9, Tally.ERP 9

The File which we prepare in Tally is called as Company.

Prepare the Balance sheet items >>>

Gateway of Tally  Accounts Info  Ledgers  Create
Share Capital :- Capital Account 20,00,000
Loan from Directors :- Unsecured Loan 5,00,000
Prov. For Depreciation: - Provisions 25000
Loan from IDBI against Motor Car :- Secured Loan 3,00,000
O/s Electricity Charges :- Current Liabilities 50,000
O/s Telephone Charges :- Current Liabilities 5000
Deposits for Premises :- Deposits 10,00,000
Investment in Debentures @ 15% :- Investment 8,00,000
Motor Car :- Fixed Assets 7,00,000
Bank of India :- Bank Accounts 1,90,000
Closing Stock :- Stock in hand 1,80,000

Don’t prepare Cash A/c, but Alter that Cash a/c.

Gateway of Tally  Accounts Info  Ledgers  Alter
Select Cash a/c & only put the amount: -10,000

You can follow single or multi ledger accounting system.

Creditor = Supplier = Seller

Debtor = Customer = Buyer
Purchase Voucher: - Purchase on Credit
Sales Voucher: - Sales on Credit
Receipt Voucher: - Cash/ Cheque Received
Payment Voucher: - Cash/ Cheque Paid
Steps for Purchase Voucher Entry with GST: -

Example: -
Purchased 10 laptops from ABC InfoTech for Rs. 40,000/- each on
credit @18% GST.

Solution: -
Purchase A/c…………….Dr. 4,00,000
To ABC InfoTech A/c 4,00,000

(Being 10 laptops from ABC InfoTech on credit @18% GST)

Features F11: Statutory & Taxation:

Say Yes in above both the options.

Now Create the following Ledger A/cs: -

1. Purchase with GST @18% A/c under Purchase A/c.
2. Party’s A/c under Sundry Creditors
3. CGST @9% on Purchase under Duties & Taxes
4. SGST @9% on Purchase under Duties & Taxes
1. Prepare Purchase with GST @ 18% A/c under Purchase A/c.

2. Prepare Party’s A/c Under Sundry Creditors

3. Prepare CGST @ 9% on Purchase under Duties &
Taxes

4. Prepare SGST @ 9% on Purchase under Duties &

Taxes

Press Ctrl + A to save directly.

Now create Stock Item: - Laptop

Now pass the Purchase (F9) Voucher Entry: -

See the entry in Display  Daybook

Now pass the Payment (F5) Voucher Entry: -

Now pass the Sales (F8) Voucher Entry: -

First prepare Party’s A/c and Sales A/c.
Now pass the Receipt (F6) Voucher Entry: -

See the Balancesheet.