TITLE OF THE PROJECT

COMPUTARISED ACCOUNTING AND TALLY

(Submitted for the Degree of B.Com. General in Accounting & Finance under the University of Calcutta)

SUBMITTED BY
NAME OF THE CANDIDATE : ARANI NATH
SECTION : B.COM(GENERAL)
SUBJECT : Computerized Accounting System
REGISTRATION NO : 144-1111-1376-20
ROLL NO : 201144-22-0044
COLLEGE ROLL NO : B0066

SUPERVISED BY
NAME OF THE SUPERVISIOR : Debasis Biswas, Dipika Das
NAME OF THE COLLEGE : Bangabasi Morning College

MONTH AND YEAR OF SUBMISSION

3RD May2023
 SUPERVISOR’S CERTIFICATE
This is to certify that Mr Arani Nath a student of B.com General
in Accounting & Finance of Bangabasi Morning College under
University of Calcutta has worked under my supervision and
guidance for the title TALLY which he is submitting. His Genuine
and original work to the best of my knowledge.

Place : Kolkata
Signature:
Date:
Name: Debasis Biswas, Dipika Das
Name of College: Bangabasi Morning College
 STUDENT DECLARATION
I hereby declare that this project TALLY submitted by me for
the partial fulfillment of the degree B.Com general in
accounting and finance under University of Calcutta is my
original work and has not been submitted earlier under any
other University or institution for fulfillment the requirement of
other course of study. I also declared that no chapter of this
manuscript or part has been incorporated in this report from
any earlier work done by others or by me. However, extracts of
any literature which has been used for this report has been
duly acknowledge providing details of search literature in this
reference.

Place : Kolkata
Signature:
Date: NAME ARANI NATH
SEC: COMMERCE
SUB :B.COM GENERAL
UNIVERSITY ROLL NO :201144-22-0044
UNIVERSITY REGISTRATION NO:144-1111-1376-20
COLLEGE ROLL NO:B0066
 INDEX: MS TALLY
SLNO CONTENTS PAGE NO

1 INTRODUCTION

2 VERSION OF TALLY

3 BASICS OF TALLY ADVANTAGES OF TALLY

DISADVANTAGES OF TALLY

4 ANSWER TO THE QUERIES

5 SHORTCUT KEYS

6 PROBLEM

7 SOLUTION

8 BIBLIOGRAPHY
 INTRODUCTION
Tally is powerful accounting software, which is driven by a technology
called concurrent multi-lingual accelerated technology engine. It is easy
to use software and is designed to simply complex day to day activities
associated in an enterprise. Tally provides comprehensive solution
around accounting principles, inventory and data integrity. Tally also has
feature encompassing global business. Tally software comes with easy to
use interface thus making it operationally simple. Tally accounting
software provides a solution around inventory management,
stock management, invoicing, purchase order management, discounting,
stock valuation methodology, etc. Tally accounting software also comes
with drill down options, which can track every detail of transaction. It
helps in maintaining simple classification of accounts, general ledger,
accounts receivable and payable, bank reconciliation, Etc

The technology employed by tally makes data reliable and secure. Tally
software supports all the major types of file transfer protocols. This
helps in connecting files across multiple office locations.
Tally accounting software is capable of undertaking financial analysis and
financial management. It provides information around receivables
turnover, cash flow statement, activity consolidation and even branch
accounting. Tally accounting software is east to set up and simple to use.
A single connection can support multiple users. It can be easily used in
conjunction with the Internet making possible to publish global financial
reports.
VERSION OF TALLY
• Tally 4.5 was the first version of Tally. It was released in 1990. This
software is based on MS-Dos.
• Tally 5.4 was the second version of Tally. It was released in 1996. It was
a
graphic interface version.
• Tally 6.3 was the third version of Tally. It was released in 2001. This
version was window based. It supports printing and implementing with
VAT (Value Added Tax). Tally 7.2 was the next version of Tally. It was
released in 2005. It was added with new features of the Statutory
complimentary version and VAT rules as par state wise.
• Tally 8.1 was the next version of Tally. It was developed with a new
data
structure. It was added with new features of Point of Sale (POS) and
Payroll.
• The next version was Tally 9. It was released in 2006. This version was
released due to bugs and errors. This version has maximum features
such as TDS, FBT, Payroll, E-TDS filling, etc.
6• The new version of Tally is ERP 9. It was released in 2009. Tally ERP 9
package is offering maximum features for small to large business
industries. It also updates with new features of (Goods & Services Tax)
GST.
• The latest version of Tally is Tally Prime. It was released in 2020 Prime
package is offering maximum features for small to large business
industries. It also updates with new features of (goods and service tax)
GST.
Basics of Tally
It is a package that offers maximum features for all kinds
of business industries, from small to large enterprises. It
also has updates related to the new features of GST
(Goods & Services Tax). The software is an all-in-one
business management solution and GST software with
combined functions, control, and in-built customizability
features. The computerised accounting software follows
the double-entry accounting system that helps in
eliminating and rectifying possible errors.

Advantages of Tally
1)Tally has saved all paper works, it means the cost of all paper work = Zero = It
means before tally, we had to all work on papers and sometime paper work cost was
more than the benefit of information in small business type organization . But after
tally using, most benefit is gotten by small scale business organizations.
2)In one tally software, you can keep records of unlimited companies. In manual
accounting, it is not possible that a single accountant can keep the record of 20
companies. But, in my contacts, there are many professional accountants of Mumbai
and Delhi who are tracking all records of more than 20 companies in tally. Billions
Rupees transactions of more than 20 companies and just one tally software. Take
idea what is the efficiency and what are the benefits of tally software.
3)After coming tally, it has made simple system of recording and calculation of all tax
responsibility. Different tax responsibilities like VAT, FBT, Service tax, Excise Mod
VAT, Custom duty, TDS, Advance tax, etc. can easily calculate and record in tally.
Now, companies are demanding tally professional in first eligibility because they are
keeping all records in tally and without knowledge of tally , an MBA is also fail to
enter in Company as Account Manager.
4)Tally provides some exceptional reports which are not possible to make in manual
accounting. In these exceptional reports, you can find negative stock, negative ledger,
overdue receivables, overdue payables, Memorandum vouchers. These reports are
very useful, if you know its benefit. These reports are also used to find out frauds and
check by spot internal auditors. Many accountants did not know that tally can be easy
use to track accounting of foreign business. Because in tally’s configuration makes
suitable tally for providing the information export shipping details, nos. of containers
and kinds of packages use in export option. These in formations are very useful for
exporters. For activate these options, you have to click configuration, then click
invoices, delivery notes and orders. Here you can yes different exporter’s options.
5)There are few accountants who know that when we make the voucher entries of
payroll, at that time we also create cost allocation by only writing yes in voucher entry
configuration in the front of (Allow cost center allocation in payroll vouchers.)
6)One of the best advantages of tally that in tally we can see any report by filtering
rang option. If you know to use excel, you can better understand what is filtering and
what is rang. But, here I am telling you that it is just option. Suppose if you see cash
flow statement greater than Rs. 100000 on all items then you can check cash inflow
and cash outflow more than Rs. 100000 each items.
7)With tally accounting software we can synchronize data over multiple locations.
Data synchronize is simple, cost effective and just few minutes we can apply it . With
synchronizing option of tally, we can easy share or collaborates all accounting
information more than one branch of company.
8)With the help of tally, accountants can generate all type of VAT through e-return
files.
9)Tally can be operated in 13 languages, if you are businessman and prefer to use
tally in your local language, tally is providing support to record your transactions in
your own language .You can also print and view reports another languag

DISADVANTAGE OF TALLY
• Initial cost – Tally is a software that requires an initial purchase or
subscription fee, which may not be feasible for all users.
• Limited features – Tally may not offer all the features that some users
require for their specific financial management needs.
• Complexity – Tally may have a steep learning curve for some users,
requiring time and effort to master its various functions.
• Dependence on technology – Tally requires a computer or other device
with an internet connection to function, which may not always be
available or reliable.
• Vulnerability to cyber threats – Tally, like all software, is vulnerable to
cyber attacks, which could compromise the security of financial
information.
ANSWER TO THE QUESTIONS
(1) What is Tally?
Tally is a popular accounting software used in many countries, including
India. Tally is a digital accounting format, and the entries are maintained
similarly to the manual book of accounts. ERP 9 (release 6.6) is the latest
release version, which will be replaced by the new version Tally
Prime.Tally is financial accounting software that helps you to
computerize your manual accounting system. In other words, the
tally is accounting software. It is software of keeping all kind of
business transaction. It used POST TRANSATION system. It
means, that the information that is being fed into TALLY as
voucher, has been already executed. E.G. in POST
TRANSACTION SYSTEM the payment is first made based on
your exiting methods (i.e.) against a cash bill, against a voucher,
etc.) & that information is fed into the program. In other word
POST TANSACTION means after the completion of the
transaction. In tally there are two main accounts namely account
only and account with inventory. Account only deals with
account like sale and purchased of goods whereas account with
inventory includes sale and purchase of goods and also the
quantity of stock item, which help us in maintain complete
information of particular transaction.

(2) How to open tally software?

Downloading the application setup from the Tally Solutions website is
the first step in starting Tally Prime. Once you download Tally Prime
setup files, you can install the application on your computer. Installation
steps remain the same regardless of the Tally ERP 9 edition you have
purchased.
You can install Tally ERP 9 on any computer with 64-bit edition of
Microsoft Windows 7 or later. For further details, refer to the
topic Recommended System Configuration for Tally Prime.
1. Download the setup files.
a. Go to: https://tallysolutions.com/download/.
b. Click Download.
The exe will get downloaded in the Downloads folder.
You can copy and paste it to any folder, if needed.
2. Install Tally Prime.
a. Double-click setup.exe.
b. Double-click Install New.
c. Configure Application Path, if needed.
By default, the application will be installed
at C:Program Files Tally ERP 9.

• Click Configure.
• Double-click Application Path.9
• Click … and change the path as needed.
• Close the List of Configurations window.
d. Click Install. The application gets installed, and the
following window opens.
e. Click Start Tally ERP 9 to launch Tally ERP 9. You can activate
the license, and thereafter, you can start using Tally ERP 9.
3) Create Company
How to Create Company:
 Open Tally.
 Go to Company Info Screen (by pressing Alt + F3 Key if
other screen appear).
 Choose Create.
 Fill the given Form.
You Need to fill following:
❑ Company Name.
❑ Address.
❑ Email.
❑ Currency Symbol.
❑ Maintain (Accounts only or Accounts with inventory).
❑ Financial Year beginning date.
❑ Book Beginning date.
❑ Tally Vault Password ·
❑ Security control Password ·
❑ And other details.
Press Enter to accept data or to save data when tally
gives option
save data yes/no.
(4) How to select a existing company from
list of a company?
Just keep the mouse pointer over a Company name, with which you
want to work on and press the Left Mouse Button. If you want to load a
company which is not there, hold the Alt Key and select the F3 Key using
the Keyboard.

5) Select company:
This command is use to select company which is already
created. It is required when you are maintaining more than
one company's account in the same computer.
➢ Go to company info (press ALT + F3).
➢ Choose Select company and press Enter.
➢ Choose your company from the appeared list and
press Enter.
➢ Choose Select company and press Enter.

Shut Company:
This option is use to close the company
you are working.
 Go to Company info.
 Choose Shut Company and Press Enter.
 Choose the company you want to Shut then Press Enter.
How to delete a exiting company?
If you no longer need the group company, you can easily delete it
without affecting the data of the member companies.
• Press Alt+K (Company) > Alter, and select the group company.
• In the Group Company Alteration screen, press Alt+D to delete the
company.
• Press Enter to confirm the deletion.
• After you delete the group company, you can continue to use the
member companies without any difficulties

Alter Company:
This option is use to modify the company which is already
created.
❖ Go to Company Info Screen.
❖ Choose Alter Company.
❖ Select the company you want to modify
then Press Enter.
❖ Modify the required information.
❖ Press Enter until you accept data.
How to display the list of companies already
created?
From menu choose select company option then you will find the list of
companies, which are created using the create company option under
the company info.

Menu from the list choose any one of the

companies.

Group & Ledger Creation:

 Group:
Group is head category, or it is base of ledger creation. We can simply take
an example from you day to day field. Suppose you have taken commerce
subject and it can also divide into management theory, accounts, business
moths and economics. So, Main group is commerce and all other are called
ledger accounts but under this commerce group. Same will apply in
accounting in tally, we can create several groups under single ledger.
 Create group:
a) Go to account info from Gateway of Tally.
b) Choose Group.
c) Choose Create from Single Group.
d) Type Group Name.
e) Choose Account Type on under option.
f) Set other details if required.
g) Accept Data.
 Ledger:
Ledger accounts represent the assorted, summarized and
balanced transaction of similar nature. For example: the ledger account
conveyance represents the set of transactions related to conveyance
expenses and their summarized net figure. All accounting transactions are
linked to ledger account.
 CREATE LEDGER:
1. Go to account info from Gateway of Tally.
2. Choose Ledger.
3. Choose Create from Single Ledger.
4. Type Ledger Name.
5. Choose Account Type.
6. Set other details if required.
7. Set Opening balance if any.
8. Accept Data
How to enter vouchers entries in tally?
1. Go to Gateway of Tally > Accounts Info. or Inventory
Info. > Voucher Type > Create .
2. Enter the Name of the voucher.
3. Select the type of voucher as Sales .
4. Enter the abbreviation in the Abbreviation field, if required.
5. Select the Method of voucher numbering from the Methods
of Numbering list, which appears as shown below:

7. Enable Use effective dates for vouchers to enter effective

dates for vouchers. Note: Select this option if you have a transaction
under consideration for overdue/ageing analysis recorded currently but
will come into another effect on date. If the effective date is entered,
the overdue/ageing will be considered from the effective date and
not from voucher date.
8. Enable Make this voucher type 'Optional' by default to set
your voucher to optional voucher by default.
Note: For Memorandum and Reversing Journal voucher the
option Make this voucher type 'Optional' by default is not
available.
9. Enable Allow narration in voucher to give a common narration
for voucher. A common narration screen for voucher appears as shown
below:
10.Enable Provide narration for each ledger in voucher? If
you want to give a separate narration for each entry of a voucher. This
would be applicable for a multiple entry voucher where you want
separate details for each entry. The narrations for each entry appears as
shown below:

For Delivery Note, Receipt Note, Sales order, Purchase order, Physical
Stock, Stock Journal, Rejection In and Rejection Out, the option Provide
narration for each ledger in voucher? Is not available.
11.Enable Print voucher after saving to print every voucher after
entering it.
Note: Depending on the Type of Voucher selected to create or alter,
different printing features appear in this field. For example, if you
select Receipt as Type of Voucher, the option Print Formal
Receipt after saving will be displayed.
12. Set Use for POS invoicing to Yes to use the sales invoice as
POS invoice.
13. Set the Default title to print on invoice to print the same
title for POS invoice.
Note: Default print Title option will appear only in Sales Voucher Type.
14. Select the bank in Default bank option to print the default bank
ledger when the option Print Bank Details is enabled in a Sales
voucher.
15. Enter the Default jurisdiction to be printed on the invoice, if
required.
16. Create a voucher class in the Name of Class field, if required.
The completed Voucher Type Creation screen appears as shown
below:
BIBLIOGRAPHY
The study material to complete this project it takes from the books
provided by
the University of Calcutta.
Sources:
Learn Tally Prime
• www.tallysolution.com
• www.ebiztehnix.com
• www.aspringyouths.com
• www.javatpoint.com
• www.simplilearn.com