jFounder of Tally: - SS Goenka In 1986

Type of Account

Personal Impersonal
Account Account

Real Nominal
Account Account

Assets Expenses/ Income

Account Account

Fixed Current Direct Indirect

Assets Assets Expenses / Expenses /
Income Income
Rules of Account
1. Personal Account
➢ Debit the Receiver
➢ Credit the giver
Eg. Municipal Learning Ltd, Sate Bank of India, RBS, Drawing, Debtor,
Buyers.
2. Real Account
➢ Debit what comes in
➢ Credit what goes out
Eg. Furniture, Cash, loan, Machinery, Car, Building.
3. Nominal Account
➢ Debit the Expense & losses
➢ Credit All Incomes & Gains
Eg. Salary, Wages, Commission, Discount.

Account Basic
Accounting is a language of business which involves identifying,
measuring & presenting, economy information about business. In which a way
that the users of the information can from option about the business, judge it’s
performers and take certain decisions. Accounting is summarized recording
monetary transactions.
Types of Account’s

1. Personal Account :
Personal account is accounting dealing with an individual, firm, or
instructions which are recognized as person in business dealing.

Eg. Customer’s owners, creditor, Debtor, Bank, firm, capital, Education,

Institutes, Trusts, Government, organization, clubs, etc.
2.
Impersonal Account’s :
Impersonal account is accounting dealing with a fixed assets,
expenses & income in business dealing.

A. Real Account’s :
Account where properties & possessions are recorded, like fixed are
current assets are termed as real account current assets are termed as real
account.
The Balances in this account showed the worth of the asset’s as on a
particular date.

Eg. Furniture, computers & machinery.

B. Nominal Account’s
Nominal Account is dealing with expense, losses and income gains.
Eg. In a Business, Rent paid for landlord, commission to salesman, salary
to employees etc.
Debtors & Creditors
1. Debtors :
A person that woes money to the business is called debtors he is a
customer to whom goods are sold on credit.

2. Creditors :
Any personal who gives credit is creditors. He is a supplier. Who sells
well’s on creditors.

Transitions:
1. Single Entry :
System or single entry accounting system is method of book keeping
replying on a one side accounting entry to maintain financial information.
2. Double Entry :
System is set of rules for recording financial accounting system in which
every transactions or event changes at least two different nominal ledger accounts
one side of the transaction being called a debit and the other side credit.
 GROUP
Sr.no Under Group

1 Bank Account
2 Bank OCC A/c
3 Branch / Division
4 Capital Account
5 Cash-In-Hand
6 Current Assets
7 Deposit Assets
8 Expenses (Direct)
9 Expenses (Indirect)
10 Fixed Assets
11 Income (Direct)
12 Income (Indirect)
13 Investment
14 Loans & Advances (Assets)
15 Loans (Liability)
16 Misc. Expenses (Assets)
17 Provisional
18 Purchase Account
19 Reserve & Surplus
20 Retained Earnings
21 Sales Account
22 Secured Loan
23 Stock-In-Hand
24 Sundry Creditors
25 Sundry Debtors
26 Suspense Account
27 Unsecured Loan
 Ledger
Sr.no Name Of Ledger Under Group
1 Cash Cash-In-Hand
2 Bank Bank Account
3 Capital Capital Account
4 Stock Stock-In-Hand
5 Purchase Purchase Account
6 Sales Sales Account
7 Person Name (Creditor) Sundry Creditors
8 Person Name (Debtor) Sundry Debtors
9 Bank Of Maharashtra Bank Account
10 Fix Deposit with Indian Bank Deposit (Assets)
11 Irfan Khan Capital Account
12 Loan From Megha Unsecured / Loan (Liability)
13 Loan From SBI Secured Loan
14 Office Expense Indirect Expense
15 Office Premises Fixed Assets
16 Petty Cash Cash-In-Hand
17 Salary Account Indirect Expenses /Income
18 Wages Account Indirect Expenses /Income
19 Depreciation Account Indirect Expenses
20 Sales Return Sales Account
21 Purchase Return Purchase Account
22 Furniture Account Fixed Assets
23 Machinery Account Fixed Assets
24 Car Account Fixed Assets
25 Commission Payable Indirect Expense
26 Commission Receivable Indirect Income
27 Paid Interest Account Indirect Expense
28 Receive Interest Account Indirect Income
29 Chair Account Fixed Asset’s
30 Rent Account Indirect Expense
Sr.no Name Of Ledger Under Group

31 Light Bill Indirect Expense

32 Phone Bill Indirect Expense

33 Export Account Sales Account

34 Import Account Purchase Account

35 Sales @ Vat 0% Sales Account

36 Purchase @ Vat 0% Purchase Account
37 Output @ Vat 0% Duties & Taxes

38 Input @ Vat 0% Duties & Taxes

39 Vat Payable Provisional

40 Gift Voucher Fixed Assets

41 Marketing Direct Expense

42 Other Expense Direct expense

43 Internal Audit Expense Indirect Expense

44 TDS on Internal Audit Duties & Taxes

45 TCS @ 1% Duties & Taxes

46 A1 Tours & Travels Indirect Expense

47 FBT Payable Duties & Taxes

48 Purchase Adv. Services Purchase Account

49 Sales Adv. Service Sales Account

50 Service Tax Duties & Taxes

51 Education Cess on Service Tax Duties & Taxes

52 Secondary Education Cess. Duties & Taxes

53 Education Cess. Duties & Taxes

54 State Bank of India Bank Account

Company Creation
Open the tally erp.9

Press Alt+ F1

Create Company (Create your company below instruction)

ERP Full Form: - Enterprises Resource Planning

Alteration of Company

Open the tally erp.9

Press Alt+ F1

Select your Company

Open your company

Press Alt + F3 (Company info)

Select Alter → Enter → Enter

Change the Name

Accept complete

See the Name

Delete of Company on Alter Option

Open your company

Press Alt + F3 (Company info)

Select Alter → Enter → Enter

Press Alt +D (Delete)

Press Alt+ F1

Select your Company

Delete of Company on Path
Open your company → see the path

Computer → Local Disk C→ User → Public → Tally ERP 9 → Data → Example: 10047

Delete the file → See the file in tally

Shut Company
Open your company

Press Alt + F3 (Company info)

Select company → Enter → Enter

Open three company

Press Alt + F3 (Company info)

Shut Company

(Shut the company in your choice)

Password of Company
Open the tally erp.9

Press Alt+ F1

Create Company

Tally vault password (if any) → Type Password

Add Password → 123
Repeat Password → 123
 → Accept

Security with Password of Company

Open the tally erp.9

Press Alt+ F1

Create Company

Use Security control → Yes

Name of Administrator → Megha

Password → 123
Repeat Password → 123 → Accept
 Shortcut Key’s
F1 : Select Company
Alt + F1 : Create Company / Select Company / Shut Company
F2 : Changing Date
Alt +F2 : Changing Period
Alt+ F3 : Select Company / Create Company / Alter
F4 : Contra
(All Bank Entries eg. Bank of Maharashtra, India)
F5 : Payment
(All Paid Entire but cash eg. Salary, wages, in. expense)
F6 : Receipt
(All Receive Entire but cash eg. capital, Income)
F7 : Journal
(All Deprecation & sales & purchase Return Entries)
F8 : Sales
(All Sales Entries but Debit with party name)
F9 : Purchase
(All Purchase Entries but Credit with party Name)
F10 : Memo
F11 : Features
F12 : Configure
Alt +D : Delete Entry
Alt + C : Direct Creation
Ctrl +A : Direct Accept Company
 Trial Balances
Account Info→ Ledger → Create →

Particular Groups Debit Credit

Active Computers Sundry Creditors - 18,450/-
Nikita Computers Sundry Creditors - 14,125/-
Bank Of Maharashtra Bank Account 1,73,282/- -
Cash Cash-In-Hand 7,500/- -
Fixed Deposit with Indian Bank Deposit Assets 25,000/- -
Furniture & Machinery Fixed Assets 45,000/- -
I-Com Computers Sundry Creditors - 28960/-
Irfan Khan Capital Account - 2,50,000/-
Loan From Vijay Unsecured Loan - 50,000/-
Loan From SBI Secured Loan - 2,00,000/-
Matrix Computer Sundry Debitor 1,78,993/- -
Nidhi Enterprises Sundry Debitor 14,375/- -
Office Enterprises Sundry Debitor 1,50,000/- -
Petty Cash Cash-In-Hand 4,300/- -
PNS Computer Sundry Creditor - 9,898/-
Multiple Ledger Creation – Gateway of tally —> Account Info—> Ledgers—>Create
(Multiple)
Amit Computers Sundry Debtor’s 5,425 -
Khan Computers Sundry Debtor’s 12,350/- -
Suchi Computers Sundry Debtor’s 8,875/- -
Ledger Creation → Gateway of tally→ Account Info→ Ledgers→ Create (single)
Stock Stock-In-Hand 3,20,400/- -
Prasad Juvekar Capital Account - 2,50,000/-
`Vikas Enterprises Sundry Creditor - 24,067/-
Total 8,45,500/- 8,45,500/-

Display:
Display → Trial Balances: 8, 45,500/-
 Trial Balances

Particular Groups Debit Credit

Add Gel Pen India Ltd. Sundry Creditors - 19,000/-

Ajanta Emporium Sundry Creditors - 9060/-
HDFC Bank Bank Account 35,000/- -
Land & Building Fi xed Asset’s 6500/- -
Office Equipment Fixed Assets 25,000/- -
Wage’s Direct Expense 10,000/- -
Mr. Bajaj Capital Account - 2,50,000/-
Ramesh & company Sundry Creditors - 20,000/-
Mutual Trust loan Loan (Liability) - 80,000/-
Salary Indirect Expense 23,000/- -
Office Expense Indirect Expense 4,500/- -
Advertisement Indirect Expense 20,000/- -
Bank Charges Indirect Expense 1,500/- -
Traveling Expense Indirect Expense 3,500/- -
Flair Corporation Sundry Debtor 8,560/- -
Purchase Account Purchase Account 1,30,000/- -
Computer System Sales Sales Account - 80,000/-
Software Sale’s Sales Account - 76,000/-
Computer System Sale’s Sales Account - 66,000/-
Mr. Khan Capital Account - 2,00,000/-
Shyam Pvt. Ltd Sundry Debtor 9,750/- -
Mr. Karan Capital Account - 2,00,000/-
Sony Pvt. Ltd Sundry Creditors - 1,50,000/-
SP Computers Sales & Service Sundry Debtor 50,000/- -
Nokia Sundry Creditors - 99,750/-
Explore Computer Sundry Debtor 1,00,000/- -
Angel Mobile Sales Sundry Debtor 2,50,000/- -
 Stock Entry
Stock item available in stores (Godowns) for sale or processing as on a
day. There are used stock group, stock categories and unit of measurement.
Gateway of tally→ Inventory info → stock Group
❖ Groups:
Mouse Keyboard Speakers CPU (System)
Gateway of tally → inventory info →
❖ Unit Of Measurement :
Symbol: No Formal Name: Number

Sr.no Name Of Item Stock Groups Qty Price Value

1 PS/2 10 No 150 1500

Mouse

2 USB 20 No 170 3400

3 Multimedia Keyboard 20 No 300 6000

Keyboard
4 Normal Keyboard 15 No 200 3000

2.0 Multimedia Speakers 14 No 500 7000

5

6 4.1 Multimedia Speakers Speakers 05 No 1500 7500

7 Normal Speakers 12 No 350 4200

8 Dual Core System 11 No 12000 1,32,000

CPU (System)
9 P4 System 04 No 8000 32000

Total 111 No 1,96,600/-

Gateway of tally → Stock Summary

Maintain Stock Category & Godowns
Step 1
Press F11→ Inventory Features →
Maintain Stock Category → Yes
Maintain Multiple Godowns→ Yes
Step 2
Inventory info→ Stock Group → Create
Name: Monitor
Step 3
Inventory info → Stock Category → Create
Name: Acer Accept
Name: Samsung Accept
Name: Intext Accept
Step 4
Inventory info → Godowns → Create →
Name: Virar Accept
Name: Vasai Accept (Main Location is already created) `zz

Step 5
Inventory info → Stock Item → Crate
Create a below table in stock item with Qty, Rate, Category, group, Godowns.

Stock Value
Stock Name Category Qty Godowns Rate
Groups

Acer 15.6” LCD 2 No Virar 4,200 8,400

Acer
Acer 18.5” LCD 2 No Vasai 6,500 13,000

SAM 15.0” TFT 2 No 3,000 6,000

Main
Monitors Samsung
Location
SAM 22.0” LED 3 No 10,500 31,500

Intex 18.5” LED 2 No Vasai 6,200 12,400

Intex
Intex 22.0” LED 5 No Virar 10,500 52,500

Total 3,20,400

Stock Summary
 STOCK CATEGORY

Product Name Qty Price Value

Category – Stationery Group: Ruler
Plastic Ruler 998 2.00 1996.00
Steel Ruler 566 12.00 6792.00
Group: Pencil
Natraj 1200 1.50 1800.00
+---Star 2000 1.00 2000.00
Group : Notebook
100 Pages 750 6.50 4875.00
200 Pages 346 12.50 4325.00
400 Pages 125 22.00 2750.00
Group : School Bag
Small Bag 15 250.00 3750.00
Large Bag 11 380.00 4780.00
Group : School Bag
 (PO) Purchase Order
Purchase order: [Alt + F4] purchase order entry is exactly like the sales order Entry.
Place purchase order of the goods to the suppliers.
Step 1
Press F11 → Inventory Feature → Order Processing → Enable Purchase Order
Processing → Yes
Step 2
Accounting Voucher → Alt + F4 (Purchase Order)

Party Name → Navneet Stores

(Create Ledger Press Alt+C under group Sundry Creditor)
Order No → PO12345

Purchase Ledger → Purchase order

(Create Ledger Press Alt+C Under group Purchase Account)
Name of Item → Press Alt +C

Name → Note Book

Under → Stationery (Create Group Alt +C)

Unit → Nos (Create Unit of measurement Alt +C)

Quantity → 100
Rate Per → 20
Amount → 2000
Narration → Being Goods order

Note: Create 5 Entry Different Party Name & Different Item Name

Check → Display → Statement of account → Statics

 (Invoice) Purchase voucher
Purchase Voucher [F9] : Purchasing refer to a business or organization attempting
for acquiring goods or services. Purchase voucher Entry is record all entries related to
purchase including cash & credit.

Step 1
Accounting Voucher → F9 (Purchase)

Supplier invoice no. : - Bill No.0111

Party Name → Navneet Stores
Order No → PO12345

Purchase Ledger → Purchase

(Create Ledger Press Alt+C Under group Purchase Account)
Name of Item Qty Rate Amount

Note Book 100 20 2000

Narration → Being Goods Purchase

See the result Press Alt+ P (With Print Preview)

Note: Create 5 Entry above order processing in purchase

Check → Display → Statement of account → Statics

 Payment Voucher
Payment voucher record all the payment mode bank and cash. It is also used for
payment of fixed assets, purchases, dues to creditors, loan and advantages given,
payment of loans and advances given to you earlier.

[Tally configuration (F12) -> Use single Entry Mode: No

Use Dr/ Cr during Entry: Yes]

Step 1
Gateway of tally → Accounting Voucher → Press F5 Payment

Account: Cash / Bank

Particular Amount

Navneet Stores 2000

Narration: - Being paid by cash / Cheque

Note: Make a payment to creating above 5 entry

 Debit note Voucher
Debit Note: [Ctrl + F9]
A document used by a purchaser to inform a vendor of the quantity and dollar
amount of goods being returned, and requesting that the dollar amount be returned to
purchaser. A debit note is often used to return goods on credit. The vendor then issues
a credit note to the purchaser indicating that the goods have been received

Step 1
Press F11 → Accounting feature / Inventory Features →
Use debit & credit note → Yes
Record debit note on invoice mode → Yes

Step 2
Press ctrl+ F9 Debit Note
Original Invoice No: - Bill No-0111
Party Name: - Navneet Stores
Purchase Ledger: - Purchase Return
Name of Item Qty Rate Amount
Notebook 20 20 400
Narration: - Being goods return

Check: - Stock Summery

 Sales Order
Sales order: [Alt + F5] the sales order, sometimes abbreviated as SO, is an order
issued by a business to a customer. A sales order may be for products and / or services.
Given the wide variety of business, this means that the orders that the orders can be
fulfilled in several ways.

Step 1

Press F11 → Inventory Feature → Order Processing → Enable Sales Order Processing
→ Yes
Step 2
Accounting Voucher → Alt + F5 (Sales Order)
Party Name → Rahul Mishra
(Create Ledger Press Alt+C under group Sundry Debitor)

Order No → SO7891
se Ledger → Sales order
(Create Ledger Press Alt+C Under group Sales Account)

Name of Item →
Name → Note Book
Quantity → 80

Rate Per → 30
Amount → 2400
Narration → Being Goods order

Note: Create 5 Entry Different Party Name & Different Item Name

Check → Display → Statement of account → Statics

 Sales Voucher
Sales Voucher [F8]
A sale is the act of selling a product or service in return for money or other
compensation. It is an act of completion of a commercial activity. Sales voucher Entry
is records all entries related to sales including cash & credit.

Step 1
Accounting Voucher → F8 (Sales)
Party Name → Rahul Sharma Bill No-0222

Order No → SO7891
Purchase Ledger → Sales
(Create Ledger Press Alt+C Under group Sales Account)

Name of Item Qty Rate Amount

Note Book 80 30 2400
Narration → Being Goods Sold

Note: Create 5 Entry above order processing in purchase

Check → Display → Statement of account → Statics

 Receipt Voucher
Receipt (F6):
Receipt voucher is record all receipt into bank or cash or cash accounts.
Such receipt from Debtors income refund of loans or advances given earlier,
sales of fixed assets, etc.

[Tally configuration (F12) -> Use single Entry Mode: No

Use Dr/ Cr during Entry: Yes]

Step 1
Gateway of tally → Accounting Voucher → Press F6 receipt

Account: Cash / Bank

Particular Amount

Rahul Sharma 2400/-

Narration: - Being receive by cash / Cheque

Note: receive a payment to creating above 5 entry

 Credit Note Voucher
Credit Note: [Ctrl + F8]:
A credit note or credit memorandum (memo) is a commercial document issued by
seller to a buyer. The seller usually issues a credit Memo for the same or lower amount than
the invoice, and then repays the money to the buyer or sets it off against a balances due from
other transactions.
Step 1

Press F11 → Accounting feature →

Use debit & credit note → Yes

Record credit note on invoice mode → Yes

Step 2

Accounting Voucher → Press ctrl+ F8 Debit Note

Original Invoice No: - Bill No-0222

Party Name: - Rahul Sharma

Purchase Ledger: - Sales Return

Name of Item Qty Rate Amount

Notebook 10 30 300

Narration: - Being goods return

Check: - Stock Summery

 Contra (F4)
Contra entry refers to entry passed for the transaction which affects both bank &
cash Ledger and the entry should be posted to both cash and bank.

Opening Balances worth Rs.7, 500/- in cash

Bank of Maharashtra Rs.173282/-

1. Cash Deposited
2. Cash withdraw
3. Cash Transfer Same Bank
4. Cash Transfer other bank
Step 1
Ledger under Groups
Bank of Maharashtra : Bank account - 173282/-

Cash : Cash-In-Hand - 7500/-

Petty Cash : Cash-In-Hand
State Bank of India : Bank Account
Day Book

Date Particular Voch. Type Debit Credit

01-04-23 Cr. Cash Contra -- 5000

Dr. Bank of Maharashtra 5000 --
Narration: Being Cash Deposited
01-04-23 Cr. Bank of Maharashtra Contra -- 3000
Dr. cash 3000 --
Narration: Being Cash Withdraw
01-04-23 Cr. Bank of Maharashtra Contra -- 1000
Dr. bank Of Maharashtra 1000 -
Narration: Being cash Transfer to same bank
01-04-23 Cr. Bank of Maharashtra Contra -- 3000
Dr. State Bank of India 3000 --
Narration: Being cash transfer to other bank
 Journal (F7)
Journal voucher entry is used for adjustment any two ledgers. No outside parties, like
Debtors, Creditors, Branches / Divisions are involved. There are for rectification entries in which any kind
of adjustment for non-cash or bank truncation are recorded here.

Ledgers under Groups

Deprecation : Suspense Account

Sales Return : Sales Account

Purchase Return : Purchase Account

Amit Computers : Sundry Debtor

Furniture & Machinery : Fixed Assets 45,000/-

Commission Payable : Direct Expenses

Mr. Rahul Shah : Sundry Creditor

Active Computers : Sundry Creditor

1. Depreciation
2. Commission Payable
3. Purchase Return
4. Sales Return

Day Book

Date Particular Voch Type Debit Credit

31-03 Dr. Deprecation Journal 4500/- -

Cr. Furniture & Machinery - 4500/-
(Press Alt+C = 45000*10%= 4500)

31-03 Dr. Commission Payable Journal 2450/- -

Cr. Mr. Rahul Shah - 2450/-

02-11 Dr. Sales Return Journal 480/- -

Cr. Amit Computers - 480/-

02-01 Dr. Active computer Journal 420/- -

Cr. Purchase Return - 420/-
 Cost Centre
A cost centres is any unit of an origination to which transaction can be allowed. When only costs or
expenses are allocated to these units, they are referred to as Cost Centers. When profits are also allocated of
each profit are also allocated to these units, they become profit Centers. You can now obtain a profit and
loss account of each profit Centre.

Step 1

Press F11 → Accounting Feature

Maintain Cost Centre Yes

Use cost center Job Costing Yes

More Than One Payroll / Cost Category Yes

Step 2

Gateway of Tally→ Account Info →

Job Categories

1. Accountant

2. Sales Man

3. Engineer

Gateway of tally Account Info ' Job Center

1. Accountant

a. Cashier b. Chief Officer

2. Sales Man

a. Sales Man 1 b. Sales man 2 c. Sales man 3

3. Engineer

a. Sr. Engineer b. Jr. Engineer

Step 3

Gateway of Tally ' Account info ' ledger' create'

Name: Salary Exp: Under: Indirect Expenses

Cost center are applicable: Yes

Name: SBI Under: Bank account Balances:-500000

Cost center are applicable: No

Step 4

Gateway of tally' Account voucher →

Payment (F5)

Account: SBI

Particular Amount

Salary Exp: 30000 /-

Accountant

Cashier 15000 /-

Chief Officer 15000 /-

Sales Man

Sales Man 1 8500 /-

Sales Man 2 12000 /-

Sales Man 3 9500/-

Engineer

Sr. Engg. 18000/-

Jr. Eng 12000/-

Check → Display → Statement of account → cost centre → category summery

 Stock journal
Stock journal voucher is used to record stock transfers from one location to another.

Step I

Gateway of tally

Inventory information → press F11→ maintain multiple Godowns → yes

Stock item → create →

Name: Books Group: Note Book

Qty: 10 Godowns: main location Rate:150

Step II
Inventory Voucher → stock journal (Alt + F7)

Source one side

Name of item Godowns Qty Rate

Books Main Location 5 150

Designation next side

Name of item Godowns Qty Rate

Books Virar 5 150

Narration: Being goods transfer

Check → gateway of tally → stock summery

Physical stock
This allows recording of physical stock in hand as distinct from computed stock figures.

Gateway of tally→ inventory voucher → press Alt+F10

Physical stock

Name of item Godowns qty

Bags Nsp 4

Virar 2

Books Main Location 3

Nsp 4

Narration: being goods verify

Check → gateway of tally→ stock summery

Gateway of tally → Display → Statement of account → Cost Center→ Cost Summery

Bill wise Details

Bill wise details will learn how to maintain details of bills specify periods and obtain receivable and
payable reports. Business usually wish to maintain details of their creditor and debtor at the invoice level
and, in tally this called Bill Wise Details accounting entry.
Step 1
Active Bill Wise Details →Company features (F11)
Accounting Features →
Maintain Bill Wise details → yes
& (For non-trading A/c Also)? → Yes

Step 2
Gateway of tally → Account info→ Ledger → create
1. Name: I-com Computers
Under: Sundry Creditor
Maintain Balances Bill by Bill? → Yes
Credit Period → 30 Days
2. Name: Mr. Gopal
Under: Sundry Debtor
Maintain Balances Bill by Bill? → Yes
Credit Period → 15 Days
3. Name: Khan computers
Under: Sundry Debtor
Maintain Balances Bill by Bill? → Yes
Credit Period → 0 Days
4. Name: Sales A/c
Under: Sales A/c
5. Name: Purchase A/c
Under: purchase A/c
Step 3
Gateway of Tally
Accounting Voucher Press F6 Receipt
1. Advances
2. Angst Ref.
3. New Ref.
4. On Account
 Interest calculation
Interest Payable
Interest is a legitimate return on money invested and chargeable in the business world on loans and
lost delayed payments. Interest can be calculated on the simple or compound interest

Step I

Press F11 Features → Accounting Features

Active interest calculation → Company features (F11)→ accounting features → Active interest calculation?
→ Yes.

Step II-

Account Info→ Ledger → Create →

1. Loan From Megha→ Loan (liability)

2. Interest Payable→ indirect expenses
Interest Parameters

Rate : 5% Per: 30 Days Months On : All Balances

Available from : 1Apr 2015 To 1 May 2015

Step III→

Account voucher →

Press F6 (receipt)

Cr . Loan from Megha 50000

Dr. Cash 50000

Check the Interest:

Display → Statement of account → interest Payable → press Alt + F2 → Date Change → Date: 01-4-2015
to 01-05-2015

Step IV →

Gateway of tally→ accounting voucher

Press F5 payment

Dr. Loan from Vijay 50000

Dr. Interest Payable 2500

Cr. Cash 52500

Narration: Being Paid cash with interest 5%

Check the Interest:

Display → Statement of account → interest Payable → press Alt + F2 → Date Change → Date: 01-4-2015
to 01-05-2015
 Interest Receivable
Interest is a legitimate return on money unvested and chargeable in the business
word on loans and lost delayed receipt. Interest can be calculated on the simple
or compound interest.
Step I –
Active interest calculation →Company features (F11)→ Accounting features →
Active interest calculation? → Yes.

Step II-
Account Info→ Ledger → Create →
1. Loan From Disha→ Loan (liability)
2. Interest receivable → Indirect income

Interest Parameters
Rate : 5% Per: 30 Days Months On : All Balances
Available from : 1Apr 2015 To 1 May 2015

Step III→
Account voucher →
Press F5 (payment)
Dr . Loan from Disha 50000
Cr. Cash 50000

Check the Interest:

Display → Statement of account → interest receivable → press Alt + F2 → Date
Change → Date: 01-4-2015 to 01-05-2015
Step IV →
Gateway of tally→ accounting voucher →
Press F6 Receipt
Cr. Loan from Disha 50000
Cr. Interest Receivable 2500
Dr. Cash 52500
Narration: Being receive cash with interest 5%
Check the Interest:

Display → Statement of account → interest receivable → press Alt + F2 → Date

Change → Date: 01-4-2015 to 01-05-2015
 VAT
VALUE ADDED TAX
The essences of VAT providing set-off for input tax and this
applied through the concept of input credit/rebate. This input
credit in relation to any period means setting off the amount
of income tax by registered dealer against the amount of his
output vat. VAT is based on the value addition to the goods,
and the related VAT liability of the dealer is calculated by
deducting the input credit from the collected on the sales
during the payment period.
Step I
Gateway of tally Press F11 inventory feature enable value
added tax yes
Set/alter vat details yes
State – Maharashtra
Type of dealer regular
Regular Application 01-04-2015

Step II
Gateway of tally account Info ledger create
• Name : Purchase @ 4%
Under: Purchase account
 Used in vat return yes
Purchase @ 4%
• Name : Sales @ 4%
Under: sales account
Used in vat return: yes
Sales @ 4%
• Name : input vat @ 4%
Under: Duties & Taxes
Used in vat return: yes
Input vat @ 4%

• Name : output vat @ 4%

Under: Duties & Taxes
Used in vat –return: yes
Output vat @ 4%
• Name : A computer
Under: Sundry Creditor
• Name : D computer
Under: Sundry Debtor

Step III
Gateway of tally inventory info stock Item create
Name of Item : Bags
Unit of measurement : no
Rate of Vat : 4%

Step IV
Gateway of tally → accounting voucher
Press F9 Purchase
Party Name: A computer
Ledger Name: Purchase @ 4%
Name of Item: Bags
Qty: 5 Rate: 200 Amount: 1000
Enter Two Time
Input vat @ 4% Enter
Narration: Being goods purchase with input vat 4%

Step V
Press F8 Sales
Party Name: D computer
Ledger Name: Sales @ 4%
Name of Item: Bags
Qty: 5 Rate: 300 Amount: 1500
Enter Two Time
Out
Put vat @ 4% Enter
Narration: Being goods sales with input vat 4%

Display→ Statuary report→ VAT→Vat computation

 Center Sale Tax

CST is a tax on sales levied by center government under the provisions of CST

tax Act 1957. As per the provisions of this Act, any movement of goods from one

state to another on account of sale/purchase or transfer of document Title of

goods between two separate parties is a considered as interstate Sale/Purchase.

Active CST Features

Step 1

F11→ Statutory and Taxation

Set Enable Value Added Tax (VAT) : Yes

Set/ Alter VAT Details: Yes

Type of Dealer

Step 2

Account Info → Ledger → Create

Name Group VAT Return VAT / TAX Class

Inter –State purchase Purchase Yes Interstate

 GST
Government Service Tax
Introduction