Introduction to Tally. ERP 9

 Introduction of Tally:

Tally. ERP 9 is the world's fastest and most powerful concurrent multi - lingual business accounting and inventory management software. Tally. ERP 9 , designed exclusively to meet the needs of small and medium businesses, is a fully integrated, affordable and highly reliable software. It is easy to buy, quick to install, and easy to learn and use. Tally. ERP 9 is designed to automate and integrate all your business operations, such as sales, finance, purchasing, inventory, and manufacturing. With Tally. ERP 9 , accurate, up-to-date business information is literally at your fingertips anywhere. The powerful new features and blazing speed and power of Tally. ERP 9 combine with enhanced MIS, Multi - lingual, Data Synchronization and Remote capabilities help you simplify all your business processes easily and cost-effectively. 

Silent Features of Tally:

The Tally. ERP 9 encompasses the following salient features : 

Simplicity: Tally. ERP 9 is simple, easy to setup and use. It also allows easy keyboard operations. It requires basic knowledge of Accounts and English to use it. 

Speed: Tally. ERP 9 provides the capability to generate instant and accurate reports, which assists the management to take timely and correct decisions for the overall productivity and growth of the company. 

Power: Tally. ERP 9 allows the user to maintain multiple companies and with unlimited levels of classification and grouping capabilities. It also allows drill down facility from report level to transaction level. 

Flexibility: Tally. ERP 9 provides flexibility to generate instant reports for any given period ( month/year ) or at any point of time besides providing the facility to toggle between Accounting and Inventory reports of the same company or between companies. 

Scalability: Tally. ERP 9 suits to any style of business needs and eliminates the necessity for a business to change its style of operation, in order to adapt to the application. 

Concurrent multi-lingual capability: Tally. ERP 9 offers you the exclusive capability of maintaining your accounts in any indian language, viewing them in another language and printing them in yet another indian language. 

Real time processing: Immediate posting and updating of books of accounts as soon as the transactions are entered, thereby facilitating instant statements and reports. It is also facilities real-time multi-user environment. 

Accounting without codes: Tally. ERP 9 allows accounting with the regular names ( the way you spell them or use in normal  parlance ) without any account codes. 

Technical support: Timely support is available from our experts at the Tally Service Partners ( TSPs ) 

Online Help: The Tally. ERP 9 Online Help ( Alt+H ) provides instant assistance on basic and advanced features or any other relevant topics of Tally. ERP 9.

Tally. Net: is an enabling framework which establishes a connection through which the remote user can access the Client's data without copying / transferring the data. 

Accounting Features of Tally:

Accounting without CODES - let you define unlimited levels of classification, with regular names ( no more inconvenient account codes ), so that you can manage the most complex ledgers with ease. 

Unified Ledgers - integrates your general, sales and purchase ledgers into a single ledger,organized in groups, for easy management. 

Complete Bookkeeping - enable you to record all types of transactions including receipts, payments, income and expenses, sales and purchases, debit notes, credit notes, adjustment journals, memorandum journals and reversing journals. 

Comprehensive Accounting - lets you instantly obtain your balance sheets, profit and loss statements, case and funds flows, trial balances, and others. 

Multi-currency Accounting - offers you flexibility of multiple currencies in the same transaction and allows viewing of all reports in one or more currency. Tally. ERP 9 meets the fundamental criteria set out for EMU handling. 

Receivables and Payable - enables you to dynamically allocate payments against invoices with reference to due dates; get reports that are classified, grouped, and aged to your definitions; generate customisable reminders for overdue. 

Payment Performance of Debtors - helps you identify troublesome debtors and persistent late players, thereby helping you make the right decision. 

Ratio Analysis - offers you a Bird's eye view of your company, through a single sheet performance analysis, based on a range of sky performance ratios. 

Quotations, Orders, Invoice, Voucher and Printing - ensure real-time linking of accounts and inventory besides enabling instantaneous generation of documents, which can either be printed and mailed directly to the recipient. 

Budgeting - gives you unlimited budgets and periods. For example: original and revised budgets. 

Security Control - enables you to define security levels for access control. 

Powerful Audit Capabilities - allows you to track mala field changes, while making genuine corrections with unparalleled ease. 

"Scenario" management - help you with your business forecasting and planning. You can use optional, reversing journals and memorandum vouchers, to aid in recording provisional entries that are useful for interim reports. For example, you can use optional vouchers to record provisional sales and compare with actual. Using automatic reversing journals, you can prepare reports that include provisional figures, without affecting actuall accounts. 

Unlimited Cost/Profit Centres with power project oriented reporting - gives you multi-dimensional analysis and comparisons, with an unlimited classification of analysis criteria. 

Interest Calculation - enable you to calculate interest on dues, loans etc., based on certain set criteria or specified dates and time periods. You can also customise the calculation of interest to change after a certain time period, or based on other predefined conditions. 

Create a Company in Tally. ERP 9:

In Tally, all accounting information is stored under a single name. This name is known as company. In Tally, company creation is the first task and only then user can work with accounting items like ledgers, vouchers, balance sheet, etc. A company holds common information like name of the company, mailing address, telephone number, etc. In this simulation, we will learn the steps to create a company and put necessary information in it. 

Go to Gateway of Tally > Company Info > Create Company

                        Company Info. 

                

                     Select Company

                  

                     Login as Remote user

                 

                     Create Company

                     Backup

                     Restore

                     Quit

The company creation screen displays as shown. 

(Tap on image to see clearly) 

Select a Company in Tally. ERP 9 :

  Select Company option allows you to load another company from the list of companies listed which you may have created earlier. 

Press Enter on Select Company Or use the button F1: Select Cmp. Tally. ERP 9 displays the following screen:

                     Select Company

Directory     : C:\User\Public\Tally.ERP9\Data

Name           :

                        List of Companies

XYZ Traders         (10000) 1-Apr-2020 to 31-                                      Mar-2021

XYZ Traders         (10001) 1-Apr-2020 to 31-                                      Mar-2021

Tally. ERP 9 displays:

1. Company Name (All the companies created are displayed in an alphabetical order) 
2. System-generated code for each company displayed
3. The Financial Year information relating to the number of years data present in the company

Select the required company from the list given to go to the Getaway of Tally for that company. In case two or more companies are loaded, click on the company which you need to work on wo that the selected company will be highlighted and will appear on top of the list. 

NOTE: The system-generated code for each company is displayed to assist you in identifying which company you wish to work on in case you have multiple companies with the same name (as displayed in the above screen).

Shut a Company in Tally. ERP 9 :

  Shut a Company is to unload it. It does not mean that you have deleted it. Simply select it again to load and work on it again. 

You can shut a company in two ways - either use the button F1: Shut Cmp (Alt+F1) or pressing Enter on Shut Company menu option on the Company Info. Menu. 

The screen appears as shown below:

                        Shut Company

                         XYZ Traders

                    List of Companies

XYZ Traders                                 (10000) 

Select the company to be shut from the List of Primary Companies. 

Alter a Company in Tally. ERP 9:

  This option allows you to alter information about the existing company, you can modify any information at any time that is set while creating a company. 

Go to Gateway of Tally

1. Select F3: Cmp Info. (Alt+F3) from the button bar
2. Select Alter and press Enter and the screen appears as shown below                           Name of Company                                    XYZ Traders                                                             List of Companies                                 XYZ Traders                   (10000) 
3. Select the company from the List of Companies and press Enter to view the Company Alteration screen. 
4. Make the necessary changes in the required field and accept the screen.

 Delete a company in Tally. ERP 9:

This option allows you to delete an existing company. 

To delete a company, you have to load the company first. 

1. Select F3:Cmp Info. (Alt+F3) from the Gateway of Tally. 

2. Select Alter and press Enter. 

3. Select the company to be deleted. The Company Alteration screen is displayed. 

4. Use Alt+D to delete. Tally. ERP 9 will prompt for a conformation on deleting the company. 

                         Delete? 

        Yes                                 No

5. Press Enter to delete the company. 

Note : Deletion of a company is irreversible

The company is permanently deleted from the system.