1. what are vouchers and types in tally prime?

In Tally Prime, vouchers are used to record various financial transactions

such as sales, purchases, payments, receipts, journal entries, and more. They
serve as a record of the financial transactions that have taken place in the
organization. A voucher contains important information such as the date of
the transaction, the parties involved, the amount of the transaction, and the
accounts affected by the transaction. Tally Prime offers different types of
vouchers that cater to various financial transactions.

Here are the different types of vouchers in Tally Prime:

1. Sales Voucher: Sales vouchers are used to record all sales made by the
organization. This voucher type is used to record invoices issued to
customers for goods sold or services rendered. It also helps in tracking the
inventory level and calculating the amount of tax payable.
2. Purchase Voucher: Purchase vouchers are used to record all purchases
made by the organization. This voucher type is used to record invoices
received from suppliers for goods or services purchased. It also helps in
tracking the inventory level and calculating the amount of tax payable.
3. Payment Voucher: Payment vouchers are used to record all payments made
by the organization. This voucher type is used to record payments made to
suppliers, employees, and other parties. It also helps in tracking the
outstanding payments and managing cash flow.
4. Receipt Voucher: Receipt vouchers are used to record all receipts received
by the organization. This voucher type is used to record receipts from
customers, loans, and other sources. It also helps in tracking the
outstanding receipts and managing cash flow.
5. Journal Voucher: Journal vouchers are used to record all non-cash
transactions such as depreciation, transfer of funds, and adjustments. This
voucher type is used to record adjustments made to accounts, which
cannot be recorded in other voucher types.
6. Contra Voucher: Contra vouchers are used to record all transactions that
involve both cash and bank accounts. This voucher type is used to record
transactions such as bank transfers, cash withdrawals, and cash deposits.
7. Debit Note Voucher: Debit note vouchers are used to record all transactions
where the organization has received goods or services, but the invoice
 received is for a higher amount than what was agreed upon. This voucher
type is used to record the difference amount as a debit note.
8. Credit Note Voucher: Credit note vouchers are used to record all
transactions where the organization has supplied goods or services, but the
invoice issued is for a higher amount than what was agreed upon. This
voucher type is used to record the difference amount as a credit note.

Explain in detail 4 vouchers

1. Sales Voucher: A Sales Voucher is a financial document used to record all

sales made by the organization. This voucher type is used to record invoices
issued to customers for goods sold or services rendered. In Tally Prime, to
create a Sales Voucher, you need to select 'F8: Sales' from the 'Gateway of
Tally' screen.

In the Sales Voucher, you need to enter details such as the Date, Party
Name, Item Details, Quantity, Rate, and other relevant information. The
voucher will also calculate the tax amount based on the tax configuration
set up in Tally Prime. You can also print or email the Sales Invoice to the
customer from within Tally Prime.

2. Purchase Voucher: A Purchase Voucher is a financial document used to

record all purchases made by the organization. This voucher type is used to
record invoices received from suppliers for goods or services purchased. In
Tally Prime, to create a Purchase Voucher, you need to select 'F9: Purchase'
from the 'Gateway of Tally' screen.

In the Purchase Voucher, you need to enter details such as the Date, Party
Name, Item Details, Quantity, Rate, and other relevant information. The
voucher will also calculate the tax amount based on the tax configuration
set up in Tally Prime. You can also print or email the Purchase Invoice to the
supplier from within Tally Prime.

3. Payment Voucher: A Payment Voucher is a financial document used to

record all payments made by the organization. This voucher type is used to
record payments made to suppliers, employees, and other parties. In Tally
 Prime, to create a Payment Voucher, you need to select 'F5: Payment' from
the 'Gateway of Tally' screen.

In the Payment Voucher, you need to enter details such as the Date, Party
Name, Bank Account, Amount, and other relevant information. You can also
attach supporting documents such as Cheque, DD, or NEFT challan to the
voucher. Tally Prime also provides the facility to print a Payment Advice for
the payment made.

4. Receipt Voucher: A Receipt Voucher is a financial document used to record

all receipts received by the organization. This voucher type is used to
record receipts from customers, loans, and other sources. In Tally Prime, to
create a Receipt Voucher, you need to select 'F6: Receipt' from the
'Gateway of Tally' screen.

In the Receipt Voucher, you need to enter details such as the Date, Party
Name, Bank Account, Amount, and other relevant information. You can also
attach supporting documents such as Cheque, DD, or NEFT challan to the
voucher. Tally Prime also provides the facility to print a Receipt Advice for
the receipt made.

5. Journal Voucher: A Journal Voucher is a financial document used to record

all non-cash transactions such as depreciation, transfer of funds, and
adjustments. This voucher type is used to record adjustments made to
accounts, which cannot be recorded in other voucher types. In Tally Prime,
to create a Journal Voucher, you need to select 'F7: Journal' from the
'Gateway of Tally' screen.

In the Journal Voucher, you need to enter details such as the Date,
Accounts affected, Amount, and other relevant information. You can also
attach supporting documents to the voucher. Tally Prime also provides the
facility to view the Journal Register, which shows all the Journal Vouchers
entered in Tally Prime.

In conclusion, Tally Prime provides various types of vouchers that cater to

different financial transactions. By using these voucher types, organizations
can efficiently record and manage their financial transactions
 2. How tally prime is effectively used in inventory management

Tally Prime is a popular accounting software that is widely used for

inventory management by businesses of all sizes. The software provides
a comprehensive set of features that allow users to effectively manage
their inventory and streamline their business operations. In this article,
we will discuss how Tally Prime is effectively used in inventory
management.

Flexible units of measure

Handling real-time complexities like 'the requirement to buy in one unit and sell in
another', 'Stock Items required to be quantified in more than one unit', 'measuring
the unit of stock item with floating conversions' etc. is no more a tedious task with
TallyPrime. The flexible units of measure in TallyPrime allows you to manage and
quantify the stock the way you want.

Manufacturing journal
Record the entire cycle of manufacturing activity using TallyPrime. Record raw
materials involved, track godowns from where the raw material is dispatched and
their purchase costs. Record the details of finished goods, by-products and scrap
yielded.

Bill of material
The comprehensive Bill of Material (BoM) feature in TallyPrime allows you to
define the raw materials, assemblies, parts and components, along with quantities
of each inventory, needed to manufacture a finished product. You can also define
the by-products, co-products and scrap in BOM of finished products.

Re-order level
Reorder level feature in TallyPrime ensures you never run out of stock. In real-
time, get to know the stock that must be replenished along with the right quantities.
You can set reorder and minimum order levels and automatically generate the
report that helps you know the shortfall and quantities to be ordered.
 Multiple stock valuation
TallyPrime lets you value your closing stock using different stock valuation
methods. The flexible stock valuation method allows you to set different stock
valuation method for each item based on your requirement. TallyPrime supports
the following stock valuation methods.

 Average Cost
 FIFO
 FIFO Perpetual
 Last Purchase Cost
 LIFO Annual

 LIFO Perpetual
 Std. Cost
 Monthly Avg. Cost
 At Zero Cost

Job work
With TallyPrime's powerful Job work feature, you can manage job work process
both as principal manufacturer and job worker. You can record material issues,
receipts, consumption of materials supported by job work reports to give complete
visibility of job status and material status.

Manufacture and expiry date management

Manufacture and expiry date management is crucial for business dealing with
products having defined shelf life or short durability. With TallyPrime, you can
maintain stock in batches with manufacturing and expiry dates and get a complete
visibility of batch details such mfg date, expiry date, no of days till expiry etc..

Additional inventory management features in TallyPrime

 Flexible inventory management system to handle exceptions so that no crucial
information stays outside the system and help you make informed decisions
 Variety of inventory reports such as stock summary, aging analysis report, item-wise
profitability etc. help you to keep a watch on stock movement and manage your
inventory more efficiently
 Using Job costing feature in TallyPrime you can track cost and revenue information like
material, labour, and overhead for each job, down to the smallest detail
 Effectively track and ascertain the procurement cost, landing costs, manufacturing or
production costs, order cost or profit, and job cost or profit, using item cost tracking
feature in TallyPrime
 3. Discuss the procedure of using tally prime in pay roll accounting

Tally Prime is a popular accounting software that is widely used by

businesses for various accounting purposes, including payroll
accounting. Tally Prime provides a comprehensive set of features that
allow users to effectively manage their payroll processes. In this article,
we will discuss the procedure of using Tally Prime in payroll accounting.

Multiple employee grouping

Using TallyPrime, you can classify employees based on different parameters, such
as their job function, department, location, cadre/designation, and so on. You can
also define salary structures at the employee group level and copy the same salary
structure for entire department such as Marketing, R&D, Sales, etc.

Flexible attendance/production types

Attendance/production types are used to compute the employee pay and track their
presence/productivity. Using TallyPrime, you can create multiple attendance types
such as days which are paid (Present, Sick Leave, EL, CL etc.), unpaid (absent
LOP), on production (piece work) and so on.

Statutory compliance in payroll

TallyPrime generates statutory reports with regard to provident fund(PF),
employee state insurances(ESI), professional tax, gratuity and income tax. The tax
computation report displays employee-wise income tax details to manage payroll
related compliance easily.

Even more, features to manage payroll and

related compliance
 Easy to define and process fixed and flexible pay-outs to the employees
 Multiple Calendar type such as fixed days, as per calendar etc. to suit your
requirements
 Generate Monthly Returns, Annual Forms and Statements for PF, ESI,
Professional Tax and Income Tax
 4. What are the various operational areas in which tally erp 9 is used?

Tally ERP 9 is a popular accounting software that is widely used by

businesses of all sizes for various operational areas. The software provides a
comprehensive set of features that allow users to manage their business
operations effectively. In this article, we will discuss the various operational
areas in which Tally ERP 9 is used extensively.

1. Accounting and Financial Management: Tally ERP 9 is primarily used for

accounting and financial management. The software provides a range of
features for managing financial transactions such as creating and
maintaining ledgers, recording transactions, generating financial reports,
and tracking account balances.
2. Inventory Management: Tally ERP 9 is widely used for inventory
management. The software provides features such as creating and
maintaining stock items, recording inventory transactions, managing stock
levels, and generating inventory reports.
3. Payroll Management: Tally ERP 9 is also extensively used for payroll
management. The software provides features such as creating and
maintaining employee masters, recording attendance and leave data,
calculating salaries, generating pay slips, and managing payroll compliance.
4. Tax Compliance: Tally ERP 9 is widely used for tax compliance. The software
provides features for managing various taxes such as GST, TDS, and TCS. It
also provides features for generating tax invoices, filing tax returns, and
maintaining tax-related records.
5. Budgeting and Financial Planning: Tally ERP 9 is also used for budgeting
and financial planning. The software provides features for creating and
maintaining budgets, tracking budget variances, and generating budget
reports.
6. Sales and Purchase Management: Tally ERP 9 is used extensively for sales
and purchase management. The software provides features for creating and
maintaining sales and purchase orders, recording sales and purchase
transactions, managing inventory levels, and generating sales and purchase
reports.
7. Project Management: Tally ERP 9 is also used for project management. The
software provides features for creating and maintaining project masters,
 tracking project expenses, generating project reports, and monitoring
project profitability.
8. Statutory Compliance: Tally ERP 9 is also extensively used for statutory
compliance. The software provides features for managing compliance with
various laws such as the Companies Act, labor laws, and environmental
laws.
9. Bank Reconciliation: Tally ERP 9 is widely used for bank reconciliation. The
software provides features for reconciling bank statements with the
company's books of accounts, identifying discrepancies, and generating
reconciliation reports.

In conclusion, Tally ERP 9 is a versatile software that is widely used by

businesses for various operational areas such as accounting, inventory
management, payroll management, tax compliance, budgeting and
financial planning, sales and purchase management, project management,
statutory compliance, and bank reconciliation. The software provides a
comprehensive set of features that enable businesses to streamline their
operations, improve efficiency, and make informed decisions.
5. What is security conrol and what are the measures should be
initiated to ensure security control in operational areas of tally
prime?

Security control refers to the measures put in place to protect the data and
information stored in a system from unauthorized access, modification, or
destruction. Tally Prime is a software that stores sensitive business data
such as financial records, customer data, and employee information.
Therefore, it is essential to implement security controls to ensure that the
data is secure and protected from unauthorized access.

Here are some measures that should be initiated to ensure security control
in the operational areas of Tally Prime:

1. User Access Controls: User access control is a security measure that

ensures that only authorized users have access to the system and the data.
Tally Prime allows administrators to set up user accounts with specific
access privileges. For example, administrators can limit the access of users
to specific modules and functions of the software based on their role and
responsibility in the organization.

2. Password Policy: A strong password policy is crucial for ensuring security

in Tally Prime. The software allows administrators to set password policies
such as minimum length, complexity, and expiration. It is essential to
ensure that users create strong passwords and change them frequently to
prevent unauthorized access to the system.

3. Data Encryption: Data encryption is a security measure that ensures that

data is secure during transmission and storage. Tally Prime provides
encryption options for sensitive data, such as financial records and
customer information.
4. Backup and Recovery: Regular backups are crucial for ensuring that data
is recoverable in the event of a system failure or data loss. Tally Prime
allows users to schedule automatic backups and store them in a secure
location. It is essential to test the backup and recovery procedures regularly
to ensure that they are working correctly.

5. Audit Trail: An audit trail is a record of all system activities such as logins,
transactions, and modifications. Tally Prime provides an audit trail feature
that allows administrators to monitor and track system activities. This
feature enables users to identify any unauthorized access or activity and
take appropriate action.

6. Anti-Virus and Anti-Malware: It is essential to install anti-virus and anti-

malware software to protect the system from malicious software that can
compromise the security of the data stored in Tally Prime. It is important to
keep the software up-to-date to ensure that it can detect and prevent new
threats.

7. Physical Security: Physical security measures, such as securing servers

and workstations, restricting physical access to the system, and securing
network connections, are essential for ensuring security in Tally Prime.

In conclusion, ensuring security control in Tally Prime is essential for

protecting sensitive business data from unauthorized access and
modification. Implementing user access controls, a strong password policy,
data encryption, backup and recovery, audit trails, anti-virus and anti-
malware, and physical security measures can help ensure the security of the
data stored in Tally Prime. It is essential to regularly review and update
security controls to ensure that they are effective in protecting the system
and the data.
 6. How tally prime is highly effective in GST management

Tally Prime is a powerful accounting and business management software

that is highly effective in managing GST compliance for businesses. Here
are some ways in which Tally Prime is highly effective in GST management:

1. GST-Compliant Invoicing: Tally Prime enables businesses to generate GST-

compliant invoices with ease. It automatically calculates GST based on the
rates applicable for goods and services and generates invoices that comply
with GST regulations. This makes it easy for businesses to issue and manage
invoices and ensures that they are compliant with GST laws.
2. GST Returns Filing: Tally Prime simplifies the process of filing GST returns. It
generates GST returns based on the transactions recorded in the software
and enables businesses to file returns directly from the software. This saves
time and effort for businesses and ensures that they comply with GST
regulations.
3. GST Reconciliation: Tally Prime enables businesses to reconcile their GST
returns with the books of accounts. It provides a summary of the GST
returns filed and enables businesses to compare it with the data recorded
in the books of accounts. This helps businesses identify any discrepancies
and rectify them before filing their returns.
4. GST Compliance Dashboard: Tally Prime provides a GST compliance
dashboard that enables businesses to track their GST compliance status. It
provides a summary of GST returns filed, payment status, and any pending
actions. This helps businesses stay on top of their GST compliance and
avoid any penalties or fines.
5. Input Tax Credit (ITC) Management: Tally Prime enables businesses to
manage their input tax credit (ITC) effectively. It automatically calculates the
eligible ITC based on the transactions recorded in the software and enables
businesses to claim ITC while filing their GST returns. This helps businesses
reduce their tax liability and improve their cash flow.
6. E-Way Bill Management: Tally Prime simplifies the process of generating e-
way bills. It automatically generates e-way bills based on the invoices
recorded in the software and enables businesses to manage and track their
e-way bills. This helps businesses comply with GST regulations and avoid
any penalties or fines.
7. Audit Trail: Tally Prime provides an audit trail feature that enables
businesses to track all the transactions recorded in the software. This helps
businesses maintain transparency and comply with GST regulations that
require them to maintain accurate records.

In conclusion, Tally Prime is highly effective in managing GST compliance

for businesses. It simplifies the process of invoicing, returns filing,
reconciliation, ITC management, e-way bill management, and provides a
dashboard to track GST compliance status. This helps businesses comply
with GST regulations and avoid any penalties or fines. The audit trail feature
provides transparency and ensures that businesses maintain accurate
records.
 7. Tally in Auditing

Tally is a popular accounting software that is widely used by businesses of

all sizes for their accounting and financial management needs. Apart from
its primary role as an accounting software, Tally can also be effectively used
in auditing. Here are some ways in which Tally can be used in auditing:

1. Data Analysis: Tally enables auditors to analyze financial data quickly and
efficiently. Auditors can use various reports and statements generated by
Tally to identify irregularities and discrepancies in financial data. Tally also
provides various analytical tools and features that can be used to perform
data analysis.
2. Voucher Verification: Tally provides an audit trail that enables auditors to
trace the origin of each transaction. Auditors can use Tally to verify the
authenticity of vouchers and check if all transactions are properly recorded
and authorized. Tally also provides a digital signature feature that ensures
the authenticity and integrity of data.
3. Stock Verification: Tally provides a comprehensive inventory management
system that enables auditors to verify stock levels and reconcile them with
physical inventory. Auditors can use Tally to compare stock levels, perform
stock valuation, and identify discrepancies.
4. Compliance Verification: Tally enables auditors to verify compliance with
various laws and regulations. Auditors can use Tally to check if all financial
transactions are properly categorized and recorded according to the
applicable laws and regulations. Tally also provides various features that
help ensure compliance, such as GST compliance and TDS compliance.
5. Audit Trail: Tally provides a detailed audit trail that records all financial
transactions. Auditors can use Tally to trace the origin of each transaction,
verify the authenticity of vouchers, and ensure that all transactions are
properly recorded and authorized. Tally also provides a backup and restore
feature that ensures data integrity and helps auditors recover data in case
of any data loss or corruption.
6. Customization: Tally can be customized according to the specific needs of
auditors. Auditors can use Tally to generate custom reports, statements,
and vouchers that are tailored to their specific requirements. Tally also
provides various customization options, such as user-defined fields, that
enable auditors to add custom data fields and capture additional
information.
In conclusion, Tally can be effectively used in auditing to analyze financial
data, verify vouchers and transactions, perform stock verification, ensure
compliance, record audit trails, and customize reports. Tally provides
various features and tools that enable auditors to perform their tasks
efficiently and effectively. Auditors can use Tally to identify irregularities
and discrepancies in financial data and ensure compliance with various laws
and regulations. Tally's audit trail feature provides transparency and
ensures the authenticity and integrity of data. Overall, Tally is a powerful
tool that can greatly assist auditors in their work.
 8.What are the benefits of tally erp 9

Tally.ERP 9 is a widely used accounting software that offers a range of

benefits for businesses of all sizes. Here are some of the benefits of
Tally.ERP 9:

1. Simplified Accounting: Tally.ERP 9 simplifies accounting tasks such as

billing, invoicing, and inventory management. The software automates
repetitive tasks and allows businesses to streamline their accounting
processes.
2. GST Compliance: Tally.ERP 9 is fully compliant with GST regulations, making
it easy for businesses to file GST returns and comply with GST laws.
3. Accurate Financial Reports: Tally.ERP 9 provides accurate and reliable
financial reports that help businesses make informed decisions. The
software offers a range of reports such as balance sheets, profit and loss
statements, and cash flow statements that help businesses track their
financial performance.
4. Improved Efficiency: Tally.ERP 9 enables businesses to improve their
efficiency by automating tasks such as data entry, billing, and invoicing. The
software also offers features such as bank reconciliation and payroll
management, which further improve efficiency.
5. Cost Savings: Tally.ERP 9 helps businesses save costs by reducing manual
labor, eliminating errors, and improving accuracy. The software also helps
businesses reduce costs associated with compliance by simplifying the
compliance process.
6. Data Security: Tally.ERP 9 offers robust data security features that help
businesses protect their data from unauthorized access. The software
provides multiple layers of security such as password protection and user-
level access control.
7. Flexibility: Tally.ERP 9 is a highly flexible software that can be customized to
meet the specific needs of businesses. The software offers a range of
customization options such as user-defined fields and custom reports that
enable businesses to tailor the software to their specific requirements.
8. Easy Integration: Tally.ERP 9 can be easily integrated with other software
and applications such as CRM and inventory management software. This
enables businesses to streamline their operations and improve efficiency.
9. Real-Time Access: Tally.ERP 9 provides real-time access to financial data,
which enables businesses to make informed decisions based on up-to-date
information.
10.Easy to Learn and Use: Tally.ERP 9 is easy to learn and use, even for those
with no accounting background. The software offers a user-friendly
interface and provides step-by-step guidance on how to perform tasks.

In conclusion, Tally.ERP 9 offers a range of benefits for businesses of all

sizes, including simplified accounting, GST compliance, accurate financial
reports, improved efficiency, cost savings, data security, flexibility, easy
integration, real-time access to data, and ease of use. The software is a
powerful tool that can help businesses streamline their operations and
improve their financial performance.

9.Limitations of tally prime

Although Tally Prime is a popular accounting software with many benefits,

it also has some limitations that businesses should be aware of. Here are
some of the limitations of Tally Prime:

1. Limited Customization: Tally Prime has limited customization options, and it

may not be possible to customize the software to meet the specific needs
of certain businesses. This can be a disadvantage for businesses that
require highly specialized features.
2. User Interface: While Tally Prime has made significant improvements in its
user interface, some users may still find it complex and difficult to use,
particularly those with limited experience with accounting software.
3. Limited Reporting Capabilities: Tally Prime's reporting capabilities are
limited when compared to some other accounting software solutions. While
the software offers a range of standard reports, it may not be possible to
generate customized reports or to drill down into detailed information.
4. Limited Integrations: Tally Prime has limited integrations with other
software solutions, which can be a disadvantage for businesses that require
a more extensive range of integrations.
5. Limited Cloud Functionality: Tally Prime is a desktop-based software, and
although it offers cloud functionality, it may not be as robust as some
cloud-based accounting software solutions.
6. Limited Mobile Functionality: While Tally Prime offers mobile apps, the
functionality is limited, and it may not be possible to perform all accounting
tasks on mobile devices.
7. Limited International Functionality: Tally Prime is primarily designed for use
in India, and although it is used in other countries, it may not be as well-
suited to international accounting requirements as some other software
solutions.

In conclusion, while Tally Prime is a popular and effective accounting

software solution, it does have some limitations. Businesses should carefully
evaluate their accounting needs and determine whether Tally Prime is the
best solution for their requirements. It is important to consider both the
benefits and limitations of any accounting software solution before making
a decision.