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What is Tally
Tally is a financial accounting software package designed by Tally Solutions mainly for small
businesses and shops. It is a complete business accounting and inventory management software
that provides various facilities like Govt. supported formats, multilingual operations, online
functions and processing for small and medium businesses.
Features of Tally 9
Multilingual Support: Tally can be used in the language of our choice. It is available in
English, Hindi, Kannada, Bengali, Gujarati, Marathi, Tamil, Punjabi, Telugu, Malayalam.
Payroll: Payroll in Tally enables users to set up and implement salary structures. It also
supports formats for pay slip printing, attendance, leave.
VAT Composition Returns: VAT Composition Returns in Tally provides fast and error-free
voucher entry with complete tracking of each transaction.
Synchronization: It helps to transfer data between two or more locations.
E-mail facility: Tally facilitates the mailing of any tally reports and documents.
Print Capabilities: Print quotations, orders, invoices, vouchers and cheques through Tally.
Complete Bookkeeping Record all types of transactions including receipts, payments,
income and expenses, sales and purchases, debit notes, credit notes etc.
Comprehensive Accounting: Immediately obtain Balance Sheets, Profit & Loss Statements,
Cash and Funds Flows, Trial Balances and so on.
Interest Calculation: Tally has completely definable Interest Calculation methods.
Data Security: Tallys data integrity checks ensure that there are no external changes the
data.
Multi-currency Accounting Multiple currencies in the same transaction and viewing of all
reports in one or more currency.
Types of Accounts
The business transactions can be grouped under three types of accounts:
Personal Accounts: Personal accounts are the accounts of persons or firms that the
business deals with. Ex. DGS & ADITYA Co a/c, USHA a/c etc
Real Accounts: Real accounts are the accounts of the properties, assets and possessions of
a business. Ex. Furniture a/c, Building a/c, Cash a/c etc
Nominal Accounts: Nominal accounts are the accounts of each head of expense or
income of a business. Ex. Salary a/c, Rent a/c, Carriage a/c etc
Rules for Debit and Credit:
Personal accounts: Debit the receiver
Credit the giver
Real accounts:
Debit what comes in
Credit what goes out
Nominal accounts: Debit all expenses and losses
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Pre-defined groups
Tally provides a list of Groups called pre-defined groups. This list is automatically made by this software.
We can just display and use it but primary Group cannot be deleted. Pre-defined Groups in Tally, out of
which 15 are Primary Groups and 13 are Sub-Groups.
Trial balance is a list of ledger balances as on the last date of accounting period. If the total of
debit balances and that of credit balances are equal, then it is understood that recording are done
in all the books correctly and accurately.
Shortcut Keys in Tally
F1
To select a company
F2
To change the menu period
F3
To select the company
F4
To select the Contra voucher
F5
To select the Payment voucher
F6
To select the Receipt voucher
F7
To select the Journal voucher
F8
To select the Sales voucher
CTRL+F8
To select the Credit Note voucher
F9
To select the Purchase voucher
CTRL+F9
To select the Debit Note voucher
F11
To select the Functions and Features screen
F12
To select the Configure screen
ALT + A
To Add a voucher
ALT + D
To delete a voucher
ALT + I
To insert a voucher
ALT + P
To print the report
CTRL + A
To accept a form
ALT+ F2
To change the system period
ALT + F3
To select the company info menu