Creation of ledger by the help of group

Group : bunch of similar type (nature ) ledgers

 Already 28 groups available in tally for creation of ledgers.

 These 28 groups are divided in 2 parts
o Primary group : 15 groups : real groups
o Secondary : 13 group : group in group basis
 For checking of group in tally go to GOT (gateway of tally ) > charts of accounts > groups > single > (alt + h)
multiple > display
 Some main group :

o Groups Ledger
o Capital Capital / drawings
o fixed assets Furniture , building , machinery
o sales Sales / sales return
o purchase Purchase / purchase ret
o indirect income Rent received , commission received , discount received
o indirect exp Rent , stationery , salary , any type of exp
o sundry debtors Credit salesperson , money due for receiving
o sundry creditors Credit supplier , liability to pay
 ledger creation in tally
o already 2 ledgers are available in tally
 cash
 P/L
o For creation of ledgers
o Single ledger
 GOT > create
 Single > use for complete detailing
o Multi ledger
 GOT > charts of Accounts
 Ledger
 Alt + H
 Create multiple ledger
o

 Journal Entry creation in tally

 Some specific accounting vouchers :
o Contra voucher :F4 : use for cash deposit and withdraw by bank
o Payment voucher :F5 : use
for all types of payment
except cash purchase of
goods
o Receipt voucher :F6 : use for
all types of payment except
cash sales
o Sales voucher :F8 : use for
cash and credit sales of
goods
 o Purchase voucher :F9 : use
for cash and credit purchase
of goods

Inventory working in tally

Stock group : use for create similar nature / brand / type of groups and products(items)

Unit of measure : stock item measurement unit

 Kg , dozen , nos , lt

Stock item : saleable products

 Samsung pro
 Samsumg black

Godown / location : stock storing place

Category : similar categorize on the basis of nature / feature

Creating inventory master

Creating steps :

Group : GOT > Inventory info > groups > single / multiple

 For detail creation : single

 For quick detail creation : multiple

Unit of measure :GOT > Inventory info > UOM >create

 Simple > unit with no explanation > kg, lt , number, pcs

 Compound > with explanation
o 1 doz= 12nos
o 1 box = 100 nos

Stock item : GOT > Inventory info > stock item > single / multiple

 For detail creation : single

 For quick detail creation : multiple

Enabling godownin tally : F 11 + F2 > inventory feature

 Maintain multiple godowns / location : yes

 GOT > Inventory info >godowns> create
 Recording all transaction in related vouchers
Accounting vouchers
o Contra voucher :F4 : use for cash deposit and withdraw by bank
o Payment voucher :F5: use for all types of payment except cash purchase of goods
o Receipt voucher :F6 : use for all types of payment except cash sales

Modes of payment / receipt / contra voucher

 Single entry mode

 Journal or double entry mode
o For switch these mode use configuration key : F12
 Use single entry mode : yes
 Types of journal entries : single ( nrml ) entries , compound entries
 Purchase voucher F9
o Use for purchase of goods on debit and credit mode
o Purchase voucher have 2 modes
 Journal entry mode
Ctrl + V
 Invoice mode
 TRADING INVOICE (ITEM INVOICE)
ALT + I
 NON TRADING (SERVICE / ACCOUNTING)
 SIMILAR classification as purchase voucher used in
 sale F8
 debit note (ctrl + f9)(purchase ret )
 credit note (sales ret)(ctrl + f8)
 sale voucher F8
o Use for sale purchase of goods on debit and credit mode
 Debit note voucher ctrl + F9
o Use for purchase return of goods
o Enabling steps for debit note
o GOT > F11 > F2/F1 >invoice group > use debit and credit note : yes > use debit mode in invoice : yes
 Credit note voucher ctrl + F8
o Use for sales return of goods
o Enabling steps for credit note
o GOT > F11 > F2/F1 > invoice group > use debit and credit note : yes > use credit debit mode in
invoice : yes