PRACTICAL FILE

OF
COMPUTERIZED ACCOUNTING SOFTWARE
BCOM(H)-III
Submitted in partial fulfillment of the requirements
of
BCOM(H)
Batch 2020-2023

SUBMITTED TO SUBMITTED BY
Ms. Surbhi Gupta TEJASVI
Assistant professor (Management) BCOM(H)-III
04215188820

Meri Educational and Research Institute

An ISO 9001-2015 Certified institute (Approved by Govt. of NCT of Delhi
Affiliated to Guru Gobind Singh Indraprastha University, Delhi)

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 INDEX
SNO. DATE PARTICULARS PAGE NO.

1. Introduction about tally 1

2. Creation of company 9

3. Creation of ledger 14

4. Creation of voucher 28

5. Creation of inventory 43

6. Some basic terms 52

7. Practical questions 53

8. Short cut keys in Tally 67

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INTRODUCTION
ABOUT
TALLY
INTRODUCTION
Tally is powerful accounting software, which is driven by a technology called
concurrent multi-lingual accelerated technology engine. Tally is an on-premise
accounting solution that caters primarily to small and midsize businesses across several
industries. It provides business functionalities including accounting, finance, inventory, sales,
purchase, point-of-sales, manufacturing, job costing, payroll and branch management.

The accounting module enables support tasks such as voucher management, reminder letters
and bank reconciliation and provides a dashboard to track business ratios. The sales module
tracks orders, records receivables/payables and generate bills and invoices. 

Cash flow can be managed through the MIS reporting module to facilitate decisions
regarding bank loans, credit limits and capital investments. Tally's inventory capabilities can
support manufacturers, distributors and traders in stock accounting. The payroll management
feature handles payslip generation, salary revision and arrears calculation.

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.

Tally accounting software can seamlessly connect with various Microsoft applications.

Definition of Tally ERP 9 Software

o Tally is an ERP accounting software package used for recording day to day business
data of a company.
o Tally ERP 9 Software is one of the most financial accounting systems used in India.
For small and medium enterprises, it is complete enterprise software. It is a GST
software with an ideal combination of function, control, and inbuilt customisability.
o Tally.ERP 9 is one best accounting software that can integrated with other business
applications such as Sales, finance, Purchasing, Payroll, Inventory, etc.
o Tally software is used for storing all the business transactions of each account in
detail. Tally has made calculations simple. Tally has become part of all businesses.
o Tally is cost-effective and time-saving. It also ensures accuracy in business
management. It enables the digitalization of bills and signatures, thus staying up-to-
date with the latest technology.
o Using the Tally ERP 9 Training, the owner of a small shop can also manage his store,
keep records of customer bills, and manage financial transactions efficiently.
o Manual calculations are time-consuming; that's why all the organizations use Tally.
o Because of Tally, the chances of error are reduced to a great extent. The Tally
software can learn at home or designated institutes. It is self-explanatory and easy to
learn.
 o

History and Versions of Tally:

Tally 4.5: This version MS-DOS support financial accounting system. It takes care of
accounting activities only such as Ledgers Classification Vouchers Entry. It provides simple
financial reports and bill wise analysis of debtors and creditors in the business.

Tally 5.0: This version MS-DOS support financial accounting system. It takes care of
accounting activities only such as Ledgers Classification Vouchers Entry. It provides simple
financial reports and bill wise analysis of debtors and creditors in the business. This is an
upgraded version to tally 4.5 and it works in windows operating system. Inventory modules
are introduced in this version, which involves detailed inventory, structure invoicing and
integrating accounting and Inventory records.

Tally 5.4: This version is an improved module over the version 5.0 where it is capable of
converting earlier data formats in to the current data format. This is possible though Import of
Data Facility.

Tally 6.3: Tally 6.3 is extended enterprise systems whereby it interacts with other system
through ODBC (Open Data Base Connectivity) you and e-mail uploads your financial
records form tally.

Tally 7.2: This version is an integrated enterprise system provides different kind of taxes like
VAT, TDS & TCS and Service Tax modules is introduced in this version.

Tally 8.1: Tally 8.1 is multi language support software. It supports 10 Languages includes is
introduced in this version.

Tally 9.0: This version is an improved model over the version 8.1. It supports 13 Languages
(Includes Foreign Languages). Payroll, POS (Point of Sales) modules is introduced in this
version.

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Features of Tally
1. Tally ERP 9 supports multi languages, so it is called as multi-lingual tally software.
Accounts can be maintained in one language and reports can be viewed in another
language.
2. Tally software is used to handle financial and inventory management, invoicing, sales
and purchase management, reporting, and MIS.
3. Tally has feature of synchronization, the transactions maintained in multiple
locations offices can be automatically updated.
4. Tally can manage single or multiple groups.
5. Using the Tally, you can create and maintain the accounts up to 99,999 companies
6. Using the feature of payroll, you can automate the employee records management.
7. The feature of Tally customization makes the software suitable for distinctive
business functions.
8. Generate consolidated financial statements as per requirements of company
9. Tally’s superior audit capabilities enable the user to have unlimited periods and
budgets. With the help of this feature, the user can track changes and make corrections
at ease.
10. The software enables the user to track the bills of trading and non-trading accounts.
The user can track the new bills, receipts, payments and adjustments made against the
bills without any hassles.

Advantages of Tally
The advantages of Tally are as follows:

Data reliability and security: In Tally, the entered data is reliable and secure. There is no
scope of entering the data, after being entered into the software.

Payroll management: Several calculations that need to be made while disbursing salary to

employees. Tally is used to maintain the financial record of the company that includes net
deduction, net payment, bonuses, and taxes.

Management in the banking sector: Banks use Tally to manage various user accounts, and
also calculate interests on deposits. Tally support ensures ease in the calculation and makes
banking simpler. Tally Support can make the calculation easy and banking simpler.

Regulation of data across geographical locations: Tally software is used to manage the

data of an organization globally. Tally can bring together all branches of the company and

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makes the common calculation for it at large. So no matter which location a company's
employee has access, it will be uniform throughout.

Ease of maintaining a budget: Tally is used to maintain the budget. Tally is used to help the
companies to work and manage expenses by keeping in mind the total budget which is being
allotted.

Simple tax returns filing: Tax GST is used to ensure that the company complies with all
GST norms. Tax GST takes care of service tax returns, excise tax, VAT filing, TDS return,
and profit and loss statement for all small businesses.

Audit tool for compliance: It acts as an audit tool. It is used to carry out regular audits of
companies. It does a thorough compliance check towards the financial year beginning and
ensures that all the monetary transactions are smoothly being carried out.

Remote Access of Data: In Tally, employees can access the financial data using the unique
User ID and password. The logging and access of data can be done by sitting at the comforts
of one's office or house.

Quick Access to Documents: Tally can save all invoices, receipts, bills, vouchers in its
archive folder. Using the Tally, we can quickly access any of the previously stored
documents. We can immediately retrieve all the billing related files.

Disadvantages of Tally 
1. Not User-Friendly: Tally fails to be an user friendly software. It does not help you
use it with ease. It is of course a simple software but not everyone can grasp the
knowledge of accounting soon after installing. Hence it fails to guide its users in a
simple way on how to use it when you do not know have much knowledge about
accounting.

2. Single window software: It does not allow to open the same transaction screen from
multiple computers. Therefore it becomes time consuming unlike other software that
allows you to work on more than one ledger at a time. Tally allows only one ledger at
a time which makes it difficult for the user to view other things in it at once.

3. No Central Support: The support system of this software is still lagging behind and
that makes it difficult for the users to find support when there is any issue with the
software. It makes the users find even more difficult in operating it as there are no
good supports from the other side to help them out with the training on how to use it.

4.  Low Security: You have to be very careful with the password as well. Once you lose
or forget the user password the retrieving of data is very difficult and quite time

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 consuming. Also there is a alarming possibility of losing the data in case of a virus or
hard disk crash.

5. Bad Integration of Invoicing Modules: Tally does not have any modules that you
can call as an extra feature that results automatically when using a feature that already
exists independently. So it does not provide account payable, receivable, etc; unlike
quickbook and other software.

6. Risk of Data Loss and intrusion: As it is an offline software therefore it has no

backup in case your system crash or some mishap takes place. Therefore you have to
separately back up your data which gives birth to extra work.

How to start Tally

When we successfully installed Tally on Windows or Mac OS, we can start Tally ERP 9 by
using one of the following methods.

Now, double click on Tally ERP 9 icon from the computer as follows:

When we login into Tally, the welcome screen of Tally ERP 9 will display on the system.

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The following options will appear on the startup screen:

1. Licensing Operations: To activate our license, we will press A from our keyword.
2. Login as remote Tally.Net user: If we enter a valid Tally.Net User id and Password
of a company that is currently connected, we can login as remotely.
3. Work in Education Mode: For practice purposes, we use work in education mode.
This method is used to work with tally without buying the license with some
restrictions.
4. Quite: To close the Tally, click on the "Quite" option.

After loading the Tally software on our system, the gateway of tally displays on the screen as
follows:

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From the above screen, we are allowed to work with Tally ERP 9 Software.

Tally Screen Components

Title Bar: This is used to display the Tally software that we are using.

Horizontal Button Bar: It helps to choose Keyboard settings, support centre, Language,
Control centre, and Help.

Close Button: Click on this close button or use ctrl+m to close the Tally window.

Task Bar: It is used to display the task of Tally ERP 9.

Gateway of Tally: It is used to display the menu, screen, reports.

Info Panel: Information panel is used to display the license details, configuration details, and
tally version.

Calculation Area: It is used for calculation functions.

Buttons Tool Bar: It is used to display the buttons that enable for immediate interaction with
Tally. It can display only the buttons that are applicable to the current task.

Date and Time: It is used to display the current date and time.

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How to close Tally ERP 9 Software
After working with Tally ERP 9, we can quit the Tally ERP 9 screen. But we have to close
all the screens before shut down the Tally ERP 9.

To quit Tally software, we can use one of the following methods as follows:

1. We should Press ESC key from our keyword until we see the confirmation message
QUIT: YES/NO. To Quit Tally ERP 9, Press Y from our keyword.
2. To quit Tally ERP 9 without a confirmation message, we should
press Ctrl+Q buttons from Gateway of Tally.

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 CREATION
OF
COMPANY

How to create a company in Tally

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We have some steps for making company in tally. Steps follows are:
STEP 1: Go to the gateway of tally and click the “company info” option

STEP 2: Then select the “create company” option.

Gateway of Tally → Company Info → Create Company

STEP 3: The showed screen is opened:

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STEP 4: Then on this stage, fill the all-company details as shown below:

STEP 5: After this, we accept our entry.

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SELECTING THE COMPANY
For selecting the company we follow these steps:
STEP 1: Gateway of Tally → Press Alt+F3 → select company

STEP 2: Then select your required company.

ALTER/SHUT COMPANY
STEP 1: Select the required option

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For deleting the company we use” shut company” option and for making changes in
company’s information we select “alter” option.

CREATION
OF
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 LEDGER

A ledger is a book containing accounts in which the classified and summarized

information from the journals is posted as debits and credits. It is also called the second
book of entry.

Create Single Ledger in Tally ERP 9

STEP 1: Go to gateway of tally and selecting the accounts info option.

Gateway of Tally → Accounts Info

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STEP 2: Gateway of Tally → Accounts Info → Ledgers

STEP 3: Gateway of Tally → Accounts Info → Ledgers → Single Ledger → Choose

Create

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STEP 4: Update the following details on Ledger creation screen.

Name: Specify the unique name of the ledger account.

Under: Under List of Groups, choose the group name that pertains to the ledger account.

For example: create the ledger of capital account

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then accept the entry

Creation of capital a/c ledger is complete.

As similar we make many accounts like: fixed assets, bank, debtor, creditor etc.

How to Display Single Ledger in Tally

In Tally, after the creation of a single ledger account, we can view the details of the ledger by
choosing the display option.

Refer the following steps to show how to display single ledger:

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Step 1: Use the following path to display the single ledger in Tally

Gateway of Tally → Accounts Info → Ledgers → Single Ledger → Choose Display

Step 2: Under List of Ledgers, choose the ledger account.

How to Alter Single ledger in Tally

Step 1: Use the following path to alter the single ledger in Tally

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Gateway of Tally → Accounts Info → Ledgers → Single Ledger → Choose Alter

Step 2: Under the List of Ledgers, choose the ledger account option.

Create Multiple Ledgers in Tally

STEP 1: Gateway of Tally → Accounts Info → Ledgers → Multiple ledger

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STEP 2: enter the following details:

STEP 3: accept the following entry:

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How to Display Multiple Ledgers in Tally

Step 1: Use the following path to display multiple ledgers.

Gateway of Tally → Accounts Info → Ledgers → Multiple Ledgers (Display)

Step 2: Under the List of Groups, choose the group name:

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How to Alter Multi Ledgers in Tally

Step 1: Using the following path, we can alter the change the details as per the requirements:

Gateway of Tally -> Accounts Info -> Ledgers -> Multiple Ledgers -> Choose Alter

Step 2: Choose the required group name under the list of the groups.

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In Tally, to save the details, press Enter and then Accept.

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QUES: Karishma @automobiles and create the following ledger:

Capital A/c Electricity bill A/c

Building A/c Salary A/c
Air conditioner A/c Depreciation A/c
Furniture & Fixtures A/c Commission received A/c
Vehicles A/c Rent received A/c
Computer A/c SBI A/c
Machine A/c PNB A/c
Telephone bill A/c

Ans. Step 1: select the ledgers option :

Step 2: create the different ledgers in tally:

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Creation of single ledger

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Creation of multi ledger:

Step 3: accept the all items.

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CREATION
OF
VOUCHER

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A voucher is a document that contains details of a financial transaction and is required
for recording the same into the books of accounts. For every transaction, you can use
the appropriate. Tally voucher to enter the details into the ledgers and update the
financial position of the company.

Create vouchers in Tally ERP 9

STEP 1: Go to gateway of tally and selecting the accounting voucher option.

Gateway of Tally → Accounting vouchers

Creation of receipt voucher

All received payments against debtors, sales and all type of amount received
transactions are recorded into receipt voucher.

Step: Go to gateway to tally→ Accounting vouchers→ receipt voucher(F6)

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Example: Business commenced with cash Rs. 500000

Step 1: creation of ledger

o Capital a/c

o Cash a/c ( already exist by default)

Step 2: creation of receipt voucher

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Step 3: accept the entry and entry is done in receipt voucher.

Creation of contra voucher

Any transactions involving a transfer of cash between one cash a/c to another or one cash a/c
to another bank a/c or one bank account to another is called as a contra entry.

Step 1: Go to gateway to tally→ Accounting vouchers→ contra voucher(F4)

Example: Deposited cash into bank Rs. 50,000

Step 1: Creation of leger
o Bank a/c ledger

o Cash a/c ledger (by default already exist)

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Step 2: creation of contra voucher(F4)

Step 3: accept the entry and contra entry is done.

Creation of payment voucher

Payment voucher is used to account all the payments made by the company by way of
Cash/Bank.

Step 1: Go to gateway to tally→ Accounting vouchers→ payment voucher(F5)

Example: machinery purchased by cash in Rs. 100000

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Step 1: creation of ledger

o Furniture a/c

o Cash a/c (already exist)

Step 2: creation of payment voucher

Step 3: accept the entry and payment voucher is done.

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Creation of purchase voucher

Purchase Vouchers is used when you have to purchase some goods from any party and you
get an invoice against cash or credit purchase from the party. Tally provides the facility to
create purchase and credit purchase entries from Purchase voucher.

Step 1: Go to gateway to tally→ Accounting vouchers→ purchase voucher(F9)

Example: Purchase goods of Rs. 10000 by HDFC Bank.

Step 1: creation of ledger

o Purchases a/c

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 o HDFC bank a/c (already exist)

Step 2: creation of purchase voucher(F9)

Step 3: accept the entry and purchase voucher entry is done.

Creation of sales voucher

A sales voucher is a form of a receipt or documentation commonly given to a buyer of

supplies or goods. It typically serves as proof of purchase when a provider must order or
deliver the goods at a later point.

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Step 1: Go to gateway to tally→ Accounting vouchers→ sales voucher(F8)

Example: Goods sold to Gift house for Rs. 40000.

Step 1: creation of ledger

o Gift house a/c

o Sales a/c

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Step 2: creation of sales voucher

Step 3: accept the entry and sales voucher entry is done.

Creation of journal voucher

Journal voucher in Tally is an important voucher which is used to make all kind of

adjustment entries, credit purchases or sales, fixed assets purchase entries.

Step 1: Go to gateway to tally→ Accounting vouchers→ journal voucher(F7)

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Example: depreciation allowed on furniture Rs. 5000.

Step 1: creation of ledger

o Depreciation a/c

o Furniture a/c (already exist).

Step 2: creation of journal voucher

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Step 3: accept the entry and journal voucher entry is done.

Creation of credit note voucher

Credit Note Voucher (Ctrl + F8) – Sales Return Voucher in Tally. ERP9. Credit Note is a

document issued to a party stating that you are crediting their Account in your Books of
Accounts for the stated reason or vice versa. It is commonly used in case of Sales Returns.

Step 1: Go to gateway to tally→ Accounting vouchers→ credit note voucher(ctrl+F8)

Example: goods are returned by gift house for Rs. 5000.

Step 1: creation of ledger

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 o Purchases return

o Gift house (already exist)

Step 2: creation of credit note voucher

Step 3: accept the entry and credit note voucher entry is done.

Creation of debit note voucher

Debit Note is a document issued to a party stating that you are debiting their Account in your
Books of Accounts for the stated reason or vise versa.   It is commonly used in case of
Purchase Returns.

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Step 1: Go to gateway to tally→ Accounting vouchers→ debit note voucher(ctrl+F9)

Example: goods returned for rs.2000

Step 1: creation of ledger

o Purchases return a/c

o HDFC bank a/c (already exist)

Step 2: creation of debit note voucher

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Step 3: accept the entry and debit note voucher entry is done.

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CREATION
OF
INVENTORY

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Inventory is the total amount of goods and/or materials contained in a store or factory
at any given time. Store owners need to know the precise number of items on their
shelves and storage areas in order to place orders or control losses.

Some important features available in the Inventory module are:

 
 Multi-location Stock Control: Use Tally ERP 9 to keep track of your stock at a
single or multiple locations.

 Comprehensive Recording of Stock Movement: Record inventory transactions

easily and comprehensively using Goods Receipt Notes, Delivery Notes, Stock
Transfer Journals, Manufacturing Journals as well as Physical Stock Journals. All
stock movements are fully recorded and maintained in Stock Registers.

 Management Reports: The Movement Analysis report gives the party-wise

details of goods bought and sold and helps identify good and bad business
partners. Stock Query is a unique single sheet report that gives information on
stocks at different locations as well as total stock-in-hand.

 Aging stock Analysis: This report identifies old stocks to aid in decisions relating
to their quick disposal.

 Batch-wise or lot-wise Inventory with Expiry: You can use the concept of

Batches or Lots to track stock at the batch level, with expiry date support.

 Re-Order Levels: Know your stock order position with the comprehensive Order
Status reports in Tally ERP 9. Specify reorder levels and minimum reorder
quantity in absolute quantities or based on previous consumption.

Inventory info menu

1.Stock group: create your group here for example: raw materials, work in progress, finished
goods etc.

2. Stock items: create your stock items here, for example: TV, sound system, VCD etc.

3. Voucher types: create your vouchers.

4. Units of measurement: create your measurement unit for items, for example: LTR, MTR,
PCS, BOX etc.

5. Quit: exit from the menu.

Create inventory in tally erp 9

Step 1: Go to Gateway of Tally > Inventory Info.

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 Step 2: Go to Gateway of Tally > Inventory Info. > Stock group > Create (under Single
Stock group).

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Go to Gateway of Tally > Inventory Info. > Stock Group > Create (under Multiple
Stock group).

Step 3: Go to Gateway of Tally > Inventory Info. > Stock Item > Create (under Single

Stock Item).

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Go to Gateway of Tally > Inventory Info. > Stock Item > Create (under Multiple Stock
Items).

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Step 4: Go to gateway of tally > Inventory info > units of measure

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Ques: Create the stock records as on 1-4-2020 with the information provided below:-

stock cost warehous onsite Total qty Total Retail

e value price

COMPUTERS
HCL PIV 17500 1 4 5 NOS 87500 21500
IBM PIV 17100 0 4 4 NOS 68400 24785
PERIPHERALS
Accessories
CD ROM Disks 450 0 5 5 BOX 2250 500
100s
Dust covers 35 2 8 10 NOS 350 40
USB pen drives 1250 0 10 10 NOS 12500 1600
64MB
Wireless 490 10 15 25 NOS 12250 700
keyboard
Wireless mouse 250 10 10 20 NOS 5000 430
Printers
HP laserjet 8200 0 7 7 NOS 57400 9500
1010series
Samsung laserjet 8100 0 5 5 NOS 40500 9850
TOTAL 2,86,150

Ans: step 1: create stock groups

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Step 2: create units of measure

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Step 3: create stock items:

Step 4: accept all entries and the items are recorded.

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SOME BASIC TERMS
Balance sheet

A balance sheet is a financial statement that reports a company's assets, liabilities and
shareholders' equity at a specific point in time, and provides a basis for computing rates of
return and evaluating its capital structure. It is a financial statement that provides a snapshot
of what a company owns and owes, as well as the amount invested by shareholders.

The balance sheet is used alongside other important financial statements such as the income
statement and statement of cash flows in conducting fundamental analysis or calculating
financial ratios.

Profit & loss A/c

The profit and loss (P&L) statement is a financial statement that summarizes the revenues,
costs, and expenses incurred during a specified period, usually a fiscal quarter or year. The
P&L statement is synonymous with the income statement. These records provide information
about a company's ability or inability to generate profit by increasing revenue, reducing costs,
or both. Some refer to the P&L statement as a statement of profit and loss, income
statement, statement of operations, statement of financial results or income, earnings
statement or expense statement.

Trial Balance

A trial balance is a bookkeeping worksheet in which the balance of all ledgers are compiled

into debit and credit account column totals that are equal. A company prepares a trial balance
periodically, usually at the end of every reporting period. The general purpose of producing a
trial balance is to ensure the entries in a company's bookkeeping system are mathematically
correct.

Ratio analysis

Ratio analysis is a quantitative method of gaining insight into a company's liquidity,

operational efficiency, and profitability by studying its financial statements such as the
balance sheet and income statement.

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PRACTICAL
QUESTIONS

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Ques 1: Recording financial transactions in books of accounts:

Journalize the following transactions in the books of Karishma Pvt. Ltd in the
financial year 2019-2020

Date Entries
1.4.2019 Commenced business with Rs.20000, Paid into the bank Rs.
10000.
1.5.2019 Bought furniture for Rs. 900.
31.5.2019 Bought goods from Krishan for Rs. 4000 for cash
1.6.2019 Sold goods for Rs.1700.
1.7.2019 Paid telephone expenses Rs. 400
2.8.2019 Purchases goods for Rs. 1000 from Gupta & sons.
1.9.2019 Paid Rs. 100 for Advertisement by cheque.
1.10.2019 Purchased a typewriter for Rs. 8000 on credit from Yogesh.
1.11.2019 Sold goods to Raghav for Rs.2900.
1.12.2019 Withdrew Rs. 350 from the bank for private use.
31.12.201 Sold goods to Ram for Rs. 900 for cash.
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1.1.2020 Received cash from Raghav Rs.2850, discount allowed Rs.50/-.
31.1.2020 Paid into the bank Rs. 2500.
1.2.2020 Issued a cheque for Rs. 300 in favor of the landlord for rent for
the month of April.
1.3.2020 Issued a cheque in favor of Gupta &sons for Rs. 950 in full
settlement of their account.
31.3.2020 Paid salaries to staff Rs. 2000.

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Ans. Step 1: create company
@karishma Pvt. Ltd
Step 2: create ledger

Step 3: Recording the entries in vouchers:

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Step 4: show the balance sheet:

Show the P&L statement:

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Show Trial balance:

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Ques 2: A business started in name of karishma Saxena ltd with capital of 20000 and 30000
respectively.
Follow entries:
a) Goods purchased
 Mohan 100000- credit
 Sohan 5000- cash
 Shyam 15000-cash

b) Sales
 Cash sales -130000
 Ankit- 50000, credit sale
c) Machinery purchased cash 20000
d) Furniture purchased 15000 from godrej ltd.
e) Provide depreciation @10% on machinery
f) Cash received from Ankit 10000
g) Loan taken from Anil 50000
h) Expenses
 Wages 4000
 Salaries 10000
 Insurance 5000
 Travelling 3000
i) Rent received 20000
j) Provide int. on loan @10%
k) Cash deposited into bank 30000.

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Ans. Step 1: create company
@karishma Saxena ltd.
Step 2: create ledgers

Step 3: recording the entries in vouchers

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Step 3: show Balance sheet:

Show P&L statement:

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Show Trial balance:

Show Ratio analysis:

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62
Ques 3: Recording the financial transaction in books of accounts:
Sr. No. Entries
1. Balance of cash in hand Rs.1400 , Overdraft Rs. 5000
2. Invested further capital of Rs. 10000 out of which Rs. 6000 was deposited in
the bank.
3. Sold goods for cash Rs.3000
4. Collected from debtors of last year Rs. 8000, discount allowed to them Rs.
200
5. Purchased goods for cash Rs. 5500
6. Paid Ram, a creditor Rs.2500 , discount allowed Rs.65
7. Commission paid to an agent Rs.530
8. Office furniture purchased from AK Rs. 200
9. Rent paid Rs.50
10. Electricity charges paid Rs.10
11. Drew cheque for personal use Rs.700
12. Cash sales Rs.2500
13. Collection from Atul Rs.4000, deposited in the bank next day
14. Drew from bank for office use Rs.500
15. Drew a cheque for petty cash Rs.150
16. Dividend received by cheque Rs.50, deposited in the bank same day
17. Commission received by cheque Rs. 230
18. Drew from the bank for salary of the office staff Rs.1500 and salaries paid
19. Paid the salary of the manager by cheque Rs.500
20. Deposited cash in the bank Rs.10000

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Ans. Step 1: create the company
@karishma Saxena Pvt. ltd
Step 2: create ledgers:

Step 3: recording the transactions in vouchers:

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Step 4: show Balance sheet:

Show P&L statement:

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Show Trial balance:

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SHORTCUT KEYS IN TALLY: -

Windows Functionality Availability

F1 To select a company At all Masters menu screen
To select Account Button At the Accounting/Inventory
and Inventory Button vouchers creation and
alteration screen
F2 To change the menu To change the menu period
F3 To select the company To change the menu period
F4 To select the Contra At accounting / Inventory
voucher voucher creation and
alteration screen
F5 To select the Payment At accounting / Inventory
voucher voucher creation and
alteration screen
F6 To select the Receipt At accounting / Inventory
voucher voucher creation and
alteration screen
F7 To select Journal voucher At accounting / Inventory
voucher creation and
alteration screen
F8 To select the Sales voucher At accounting / Inventory
voucher creation and
alteration screen

Cntrl+F8 To select the credit note At accounting / Inventory

voucher voucher creation and
alteration screen
F9 To select the purchase At accounting / Inventory
voucher voucher creation and
alteration screen
Cntrl+F9 To select the Debit note At accounting / Inventory
voucher voucher creation and

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 alteration screen
F10 To select the Reversing At accounting / Inventory
Journal Voucher voucher creation and
alteration screen
F11 To select the Functions and At almost all screen in
features screen TALLY
F12 To select the Configure At almost all screen in
screen TALLY
Alt+12 To Duplicate a voucher At List of Voucher - Create
a voucher similar to the one
where you Positioned the
cursor and used this key
combination
Alt+A To Add a voucher At List of Voucher — adds a
voucher after the one where
you positioned the cursor
and used this key
combination

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