Tally erp 9 notes

TALLY ERP -9
BUSINESS – Business is an innovative
human activity directed to exchange
Of wealth by buying & selling of
Goods & Services in order to earn
profit.
Types of Business – (According to
Ownership )
1. SOLE PROPEITORSHIP
2. PARTNERSHIP
3. JOINT-STOCK COMPANY
ACCOUNT -
 Summary of Transaction
 Account is a Statement where
Business transaction are recorded

TRANSACTION –
 Each & every activity of business
which can be expressed in terms
of money is call Transaction.
Types of Account –
1. PERSONAL ACCOUNT
2. REAL ACCOUNT
3. NOMINAL ACCOUNT
1.PERSONAL ACCOUNT-
Account related to a Natural Person
& Artificial Person /Organization is
known as Personal account .
Ex- RAM A/C , HARI A/C , SBI A/C ,
GMU A/C
A. NATURAL PERSON –

RAM A/C , SHYAM A/C & OTHER
NATURAL PERSON
B. ARTIFICIAL/ORGANIZATIONAL
PERSON
DOEACC A/C , SBI BANK A/C , GMU
A/C , OTHER ARIFICIAL PERSON
REPRESENTATIVE PERSON
PERSONAL ACCOUNT –
Representative person is a natural
person which is appointed to
represent to an organization
artificial person , it takes
responsibilities & bear all the risk
of the organization .
2. REAL ACCOUNT –

Account related to PROPERTY or
ASSETS of business are known as
Real account.
EX- Machinery A/c , Land A/c,
Building A/c , Cash A/c , Furniture
A/c , Purchase A/c
3. NOMINAL ACCOUNT –
Account related to Expenses or
Losses & Incomes or Gain are known
as Nominal Account.
1. Expenses & Losses –
 Salary Account
 Wages Account
 Tax Payable Account
 Telephone Bill Account
 Rent Paid Account
 Postage & Stamps Account
 Drawing Account

 Stationery Account
2. Incomes & Gain
 Rent received
 Commission received
 Interest received
PETTY CASH –
The Particular amount of money
which transfer from main cash to
as petty cash in advance to meet
daily expenses or un-important
expenses of the business.
ACCOUNTING –
Accounting is an art of Recording ,
Classifying, Summarising,
Annalysis of Results of Operation
to Balance at the end .
 Recording – JOURNAL

 Classifying – LEDGER
 Summarising – TRIAL BALANCE
 Annalysis –
 Results of Operation – PROFIT
& LOSS ACCOUNT
 Balance at the end – BALANCE
SHEET
TALLY – TOTAL ACCOUNTING
LEADING LIST YEAR
 It is an accounting application
software which is used for
accounting .
ACCOUNING CONCEPTS :

Accounting concepts are certain
assumption on which accounting
are based on .
1. ACCOUNTING ENTITY/ BUSINESS
ENTITY :
Business & proprietor are two
different person . Accounting is
maintain for the business not for
the proprietor .
2. GOING CONCERN CONCEPT :
Business will be going on future
with out any interruption.
3. ACCONTING PERIOD CONCEPT :
Business will be maintain for a
specified period like : 365 days, 6
months, 1months.

4. MONEY MEASUREMENT
CONCEPT:
Transaction which are measure
with money , only those are able
to be recorded in account.
5. ACCURAL CONCEPT :
Anything which is purchased or
sold in credit in the business ,
those are recorded in account as
credit transaction .
6. REVENUE REALIASATION
CONCEPT :
Business is confirm to receive the
money , the transaction is not
recorded in account till, money
has not been realized by the
business.

7. MATCHING CONCEPT :
Revenue will be matched with the
cost.
DOUBLE ENTRY SYSTEM :
DEBIT – DR (RECEIVED)
CREDIT – CR (PAID)
GOLDEN RULE OF ACCOUNTING :
Invent by LUCASS PACCIOLI
(GERMAN) in 1494
World first ACCOUNTING BOOK –
DE-COMPUTIS-ET-SCRIPTURES
1. PERSONAL ACCOUNT :
DR – The Receiver
CR – The Giver
EX- Ram pays Hari R.S 10000

DR – Hari A/c 10000
CR- Ram A/c 10000
2. REAL ACCOUNT :
DR – What Comes in
CR- What Goes out
EX – Purchase a Computer of
R.S 30000 by paying Cash
DR- COMPUTER A/c 30000
CR- CASH A/c 30000
Sold old Furniture of R.s 20000
through Cash
DR – Cash A/c 20000
CR- Furniture A/c 20000
3. NOMINAL ACCOUNT :
DR – Expenses or Losses
CR – Income or Gains
EX – Received Commission of
R.S 1500 by Cash

DR- Cash A/c 1500
CR- Received Commission A/c
1500
Paid Rent of R.S 7000
through cheque of SBI
DR- Rent A/c 7000
CR- SBI Bank A/c 7000
ACCONTING TERMIOLOGY :
1. ASSETS : Anything which will
enable the firm to get back cash
or benefit .
A. Current Assets : (use with in 1
year)
 Cash in hand
 Cash at Bank

 Sundry Debtor
 Bills- Receivable
 Accrued Income ( due ut not
yet paid )
 Stocks
B. Fixed Assets : (use more than
one year )
 Land
 Vehicles
 Machinery
 Furniture
 Computer
2. LIABILITY :
The Amount which is liable to
pay Outsiders .

A. Current Liability : (payable with
in a Year)
 Sundry Creditors
 Bills –Payable
 Bank – Overdraft
 Short – Term Loans
 Outstanding Expenses ( due
but not yet paid )
B. Long – Term Liability : (payable
more than one year )
 Mortgage Loans
 Other Loans
3. CAPITAL :
Anything which is invested by
the Proprietor in its Business is
known as CAPITAL.

4. DRAWING :
Anything which is withdrawn by
the proprietor from its business
for PERSONAL USE is known as
Drawing.
5. Sundry Creditors :
Creditors are the Person or
Organization to whom Business
is liable to Pay .
6. Sundry Debtors :
Debtors may be a Person or
Organization whom business has
right to receive something .
7. Direct Expenses :

Expenses are Direct related to
before production of the product
.
8. In- Direct Expenses :
Expenses are related to after
production of the product .
BUSINESS :
A. PRODUCTION :
Gross Profit/Loss, Net
Profit/Loss (Direct expenses &
In direct Expenses )
B. TRADING :
Net Profit/Loss
9. STOCK :

Finished Goods of the
organization .
Closing stock will be opening stock
in next accounting period.
TALLY SHORT CUT KEYS :
Alt+F3 – To display “COMPANY
INFO “ Screen
Alt+F2 – To set/change Accounting
Period
F2 – To change the Date
F4 – Contra Voucher
F5 – Payment Voucher

F6 – Receipt Voucher
F7 – Journal Voucher
F8 – Sale Bill Voucher
F9 – Purchase Bill Voucher
Esc – Cancel the Action
Alt+c – Ledger Creation
 Backspace – Come to back /
change
TALLY – ERP(9.0)
 How to OPEN

a. Double click on TALLY
ICON which may be located
in desktop screen .
b. When it opens a welcome
screen showing you TALLY
POWER OF SIMPLICITY .
c. In this Software first you
have to create a company ,
creation will be available in
COMPANY INFO SCREEN .(
Alt + F3 )
d. Every recording & posting
will be done in GATE WAY
TALLY SCREEN .
ACCOUNTING VOUCHER :
1. CONTRA VOUCHER ( F4) :

In this voucher we record
transactions related to cash
deposit & withdraw from bank .
2. PAYMENT VOUCHER (F5) :
Payment voucher is a voucher
where cash & cheque Payments
are recorded . In this voucher
Cash& Bank a/c are always shown
in credit side .
3. RECEIPT VOUCHER (F6) :
We record transactions related to
Cash & cheques received by he
Business . In this voucher Cah &
Bank a/c are always shown in
Debit side .
4. JOURNAL VOUCHER (F7) :
All type of Non-Cash transactions
are recorded in journal voucher .
ACCONTING PERIOD (Alt + F2) :

Before to start record of
transactions we need to set or
change Accounting Period or
Financial Year . You have to
change the date daily by using F2 .
LEDGER :
CASH & PROFIT LOSS A/C Ledger
are previously available .
1. DIRECT PROCESS to CREATE
LEDGER :
GOT – ACCOUNT INFO – LEDGER –
CREATE
DISPLAY
ALTER
2. SHORT CUT PROCESS ( Alt + c) :
We also create Ledger by direct
use of (Alt + c ) key .

Undergroup :
BANK a/c , Capital a/c , Purchase
a/c , SALES a/c under group same
as account name .
COST CENTRE & COST CATEGORY :
ACTIVATE :
GOT-F11-COMPANY FEATURE -
ACCOUNTING FEATURE
STATUTORY FEATURE
MAINTAIN COST CENTRE
(YES)
MAINTAIN COST CATEGORY
(YES)

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