Tally ERP9 Online version

Fundamentals of Tally.ERP 9
1 Introduction
Tally.ERP 9 is the world's fastest and most power
ful 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 int
egrated, affordable and highly reliable software.
Tally.ERP 9 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, inven-
tory, and manufacturing. With Tally.ERP 9, accurate, up-todate business information is literally at
your fingertips anywhere. The powerful new features and blazing speed and power of Tally.ERP 9
combined with enhanced MIS, Multi-lingual, Data Synchronization and Remote capabilities help
you simplify all your business pr
ocesses easily and cost-effectively.
2.1.1 Salient Features of Tally.ERP 9
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A leading accounting package
: The first version of Tally was released in 1988 and,
through continuous development, is now recogn
ised as one of the leading accounting
packages across the world, with over a quarte
r million customers. Tally’s market share is
more than 90%.
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No accounting codes
: Unlike other computerised accounting packages which require
numeric codes, Tally.ERP 9 pioneered the ‘n
o accounting codes’ concept. Tally.ERP 9
users have the freedom to allocate meaningful nam
es in plain English to their data items in
the system.
Lesson Objectives
On completion of this lesson,
you will be able to understand
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Salient Features of Tally.ERP 9
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Key Components of Tally.ERP 9
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How to start and exit Tally.ERP 9
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Setting up a company in Tally.ERP 9
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Working with companies in Tally.ERP 9
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Fundamentals of Tally.ERP 9
12
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Complete business solution
: Tally.ERP 9 provides a comprehensive solution to the
accounting and inventory needs of a business. The package comprises financial account-
ing, book-keeping and inventory
accounting. It also has various tools to extract, interpret
and present data.
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Integrated/ Non-integrated accounting and inventory
:
With Tally.ERP 9, the user is able
to choose between accounting and accounting with
inventory. If accounting with inventory
is opted for, the user can choose w
hether it should be integrated or not.
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Flexible and easy to use
: Tally.ERP 9 is very flexible
. It mimics the human thought proc-
ess, which means that Tally.ERP 9 can ada
pt to any business need. Tally.ERP 9 users
need not change the way their business is run to adapt to the package.
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Speed
: Tally.ERP 9 provides the capability to generate instant and accurate reports, which
assists the management to take timely and corre
ct decisions for the overall productivity and
growth of the company.
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Power
: Tally.ERP 9 allows the user to maintain multiple companies and with unlimited lev-
els of classification & grouping capabilities. It
also allows drill downfacility from report level
to transaction level.
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Flexibility
: Tally.ERP 9 provides flexiblity to generate instant reports for any given period
(month/year) or at any point of time besid
es providing the facility to toggle between
Accounting & Inventory reports of the same company or between companies.
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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.
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Real time processing
: Immediate posting & updation of books of accounts as soon as the
transactions are entered, thereby facilitating instant statements & Reports. It also faciliaties
real-time multi-user environment.
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Versatility
: Tally.ERP 9 is suitable for a range of organisations, from small grocery stores
to large corporations with international locations and operations.
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Multi-platform availability
: Tally.ERP 9 is available on Windows 95, 98, ME, 2000 and NT.
It runs on a single PC or on a network. On a network, it supports access via any com-
bination of platforms.
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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.
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Tally.NET
: is an enabling framework which esta
blishes a connection through which the
remote user can access the Client's dat
a without copying / transferring the data.
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Remote Access
: Tally.ERP 9 provides remote capabi
lities to access the data from any-
where and anytime.
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Control Centre
: works as an interface between the user and Tally.ERP 9 installed at differ-
ent sites and enables the user to centrally co
nfigure and administer Site/User belonging to
an account.
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Support Centre
: allows a user to directly post his support queries on the functional and
technical aspects of the Product.
Fundamentals of Tally.ERP 9
13
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Auditor's Edition
: Tally.ERP 9 offers a special Auditors' Edition of Tally.ERP 9, which pro-
vides auditing and compliance capabilities
exclusively for Chartered Accountants.
2.1.2 Functional Feat
ures of Tally.ERP 9
BASIC ACCOUNTING
BASIC INVENTORY
Complete book-keeping
Stock categories
Books, registers and statements of accounts
Stock query by stock group, or stock cate-
gory
General ledgers
Multiple godowns
Accounts receivable and accounts payable
Stock transfers to godowns and branches
Flexible voucher numbering
Multiple stock valuation methods
Flexible classification of account heads
Batch-wise/ Lot-wise, including expiry
date handling
Panoramic view
Alternate units of measure and tail units.
Drill-down display
Tracking through receipt notes/ delivery
notes/ rejections inwards/ rejections out-
wards
Database reporting
Additional costs incurred on purchase
Voucher and cheque printing
Movemen
t/ Profitability analysis Party-
wise/ Item-wise/ Stock Group-wise
Columnar reports
Customisable sales invoices using price
lists with multiple prices
Bank reconciliation
Sales an
d purchase order processing
ADVANCED ACCOUNTING
ADVANCED INVENTORY
Multiple companies
Stock items classified as raw materials,
work-in-process, finished goods
Multi-currency
Bill of Material with auto-adjustment of
stocks
Multiple financial years
Job-working concepts, including sub-con-
tracting
Comparison of data using multi-columnar
reporting.
Additional cost of manufacturing with
notional value and percentage
Memo vouchers
CENVAT support
Post-dated vouchers
Reorder levels
User-defined voucher types
Stock ageing analysis
Sales and purchase extracts
Batch related stock reports
Cash flow statement
Point of Sale (POS)
Fundamentals of Tally.ERP 9
14
2.1.3 Technology Advantages
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Simple and rapid installation
: Tally.ERP 9 has a simple, menu-driven installation proce-
dure. The user can install the program files on any drive if the hard disk has partitions. The
user can also specify the name and directory
location of the program files. Tally.ERP 9
uses minimum hard disk space in the local drive. Its installation on the local disk takes just
a few seconds.
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Unlimited multi-user support
: A multi-user version of Tally.ERP 9 can be installed on a
network, having any number of computers with
different operating syst
ems such as Win 95,
98, NT, 2000, XP and Linux.
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Internal backup/ restore
: Tally.ERP 9 has an in-built, user-friendly ‘backup and restore’
option. It helps the user to take a backup of
one or more companies or all companies, in a
single directory, in the local hard
disk, or in any external media.
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Data reliability
:
Tally.ERP 9 offers reliable data. It uses
a flexi-field, flexi-length, self-
indexed, weighted file structure for an extrem
ely compact and fast database. Tally.ERP 9 is
robust and even if there is a power failure or the computer is incorrectly shut down, data is
not lost. Tally.ERP 9 uses signalling quality data
integrity checks, at regular levels, to
ensure the complete reliability of data.
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User-defined security levels
: Tally.ERP 9 offers high levels of security. Users can define
multiple levels of security according to t
heir requirements. Every authorised user in the
company can have an individual password, with rights to use specific features only. The
user with the administrator level password w
ill have full access and can set controls for
other users.
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Data security
:
Tally.ERP 9’s data integrity checks ensure that there are no external
changes to the data. Tally.ERP 9 also uses a binary encoding format of storage to prevent
devious grouping of information.
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Tally audit
:
The Tally.ERP 9 audit feature provides the user with administrator rights and
the capability to check the entries made by the authorised users and alter these entries, if
necessary. Once the entries are audited, Tally.ERP 9 displays the altered entries, if any,
Daily balances and transaction values/ Interest
calculations
Excise/ VAT/ Central Sales Tax (CST)/
Tax Collected at Source (TCS) related
Inventory transactions and reports
Percentage-based reporting
Ratio analysis
Value Added Tax (VAT)
Service Tax (ST)
Fringe Benefit Tax (FBT)
Tax Deducted at Source (TDS)
Tax Collected at Source (TCS)
Excise
Payroll
Fundamentals of Tally.ERP 9
15
along with the name of the user, who has altered the entry, and the date and time of the
alteration.
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TallyVault
: Tally.ERP 9 offers a data encryption option called TallyVault. Without the valid
TallyVault password, the data cannot be accessed. Tally.ERP 9 follows the DES (Data
Encryption Standard) encryption method to safeguard the data.
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Removal of data into a separate company
:
Tally.ERP 9 allows users to maintain a com-
pany for any number of financial years. Once the books of accounts have been completed
for the earlier financial years, the user can split the company data into multiple companies
as per financial periods required. Tally.ERP 9 also has a feature to split company data. The
user can specify the date from which the comp
any has to be split and Tally.ERP 9 will split
the company to form two companies as per periods specified. Once the data has been
split, the closing balance of the first perio
d (first company) becomes the opening balance
for the next period (second company).
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Multi-directory for company management
: The user can create multiple directories to
store data. The data stored in these directories can be accessed directly in Tally.ERP 9, by
specifying the path.
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Import/ Export of data
: Any transaction can be exported and imported to other software
after suitably altering the current structures to accept the Tally.ERP 9 data structure. Data
can also be imported to Tally.ERP 9 by writ
ing a TDL program. The data which is to be
exported from Tally.ERP 9 can be in XML, HTML or ASCII format.
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Tally.ERP 9 Synchronization
: Synchronization is the proce
ss of exchanging Tally.ERP 9
data between two or more locations. This proces
s enables a branch office to send its data
to the head office, over the Internet or a private network.
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Graphical analysis of data
: Tally.ERP 9 provides graphical analysis of data which helps
the user to perform deeper analysis. The user can generate graphical analysis reports such
as Sales register, Purchase register, Ledgers, Funds flow, Cash flow, Stock Item registers
and so on. This helps the management to quickly judge performance and be better pre-
pared for difficult times.
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ODBC (Open Database Connectivity) compliance
: It allows other programs to use data
from Tally.ERP 9, directly. Thus, any program such as MS-Excel or Oracle, which is ODBC
compliant, can use data from Tally.ERP 9. Data
connectivity is dynamic, which means that
any update in Tally.ERP 9 is reflected in real time in other ODBC compliant software. The
user can also extract data from Tally.ERP 9 and design his/ her own report formats in other
ODBC compliant software.
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Protocol support
: Tally.ERP 9 provides protocol
support for HTTP, HTTPS, FTP, SMTP,
ODBC and raw sockets with data interchange formats such as XML, HTML with XML
islands, SOAP and related formats. Protocol re
fers to a mechanism by which information
(data) can be put into or taken from Tally.ERP 9. Formats refer to the standard for informa-
tion to be generated from Tally.ERP 9 or from
other applications which can exchange data
with Tally.ERP 9.
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Direct web browser access
: While working on Tally.ERP 9, the user can directly log on to
the Tally website, provided he/ she has access
to the Internet. The website lists details of
all the facilities offered by Tally.ERP 9. The user can also download the latest release of
Fundamentals of Tally.ERP 9
16
Tally.ERP 9 as and when it is available. The Ta
lly website also offers Tally Chat, by which a
user can communicate with a Tally repr
esentative and get required information.
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Ability to preview and publish reports and documents on the Internet
: Companies
which want to publish reports and price lists on their website can do so directly from
Tally.ERP 9.
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E-mail Facility
:
Tally.ERP 9 facilitates the mailing of
any Tally.ERP 9 report or document.
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Multilingual capability
: Tally is the world's first account
ing and inventory software with
multilingual capability. Currently, Tally.ERP 9’s
multilingual capability extends to 12 lan-
guages which include nine Indian languages (Hin
di, Gujarati, Punjabi, Tamil, Telugu, Mar-
athi, Kannada, Malayalam and Bengali), Bahasa Melayu and Bahasa Indonesia. Tally.ERP
9 enables you to enter data in one language and have it transliterated into different lan-
guages. You can generate invoices, purchase or
ders or delivery notes in the language of
your choice after entering data for the same
in any of the nine specified languages. Also,
the phonetic keyboard allows you to spell the term phonetically based on how it sounds
and Tally.ERP 9 displays the data in the language selected after transliteration.
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Point of Sale (POS)
:
POS is an acronym for Point of sale. Point of Sale can be a retail out-
let, a check out counter ina shop, or any other location where a sales transaction takes
place. It is a computorised cash register which adds up the sales totals, calcutates the bal-
ance to be returned to buyer and automatically adjusts the inventory level to reflect the
quantity sold. The equipment required for POS to work effectively are cash registers, card
readers, bar-code scanners and so on.
2.1.4 Payroll
Tally.ERP 9 Payroll is integrated with Accounting and benefits the user by simplifying Payroll
processing and accounting. Tally.ERP 9 Payroll
enables users to set up and implement salary
structures, ranging from simple to complex, as per the organisation’s requirements. The user can
also align and automate payroll processes and directly integrate them with main stream account-
ing applications. Tally.ERP 9 Payr
oll also supports configurable formats for payslip printing;
flexible salary/wage, attendance, leave and over
time registers; gratuity and expat reports.
2.1.5 Data Migration Capability
Tally.ERP 9 has the ideal solution for those who have their data in Tally 7.2 and now want to use
Tally.ERP 9. Tally.ERP 9 provides a migration tool which helps the user to migrate the data easily
to the latest version and continue with day-to-da
y transactions. Tally 6.3
users can also use the
migration tool which will rewrite the version to Ta
lly 7.2 and then migrate the data to Tally.ERP 9.
Tally 8.1 users and Tally 9 Release 2.14 users can re
write the version of their data to Tally.ERP 9.
Fundamentals of Tally.ERP 9
17
2.1.6 Features pertaining to Duties and Taxes
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The all-new package provides statutory reporting capability for VAT (Value Added Tax),
Composite VAT, CST (Central Sales Tax), TDS (Tax Deducted at Source), ST (Service tax),
TCS (Tax Collected at Source), FBT (Fringe Benefit Tax).
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State-specific statutory VAT returns and Annexures
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Various CST related reports
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Returns and challans for Service Tax
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TCS enabled with e-TCS capability, with fa
cility for printing ce
rtificates/ challans
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Composition Monthly VAT Return
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Quarterly Return – Form II, in the case of Excise Dealer
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Periodic FBT Challans and Returns
2.2 Getting Functional with Tally.ERP 9
2.2.1 Tally.ERP 9 Start-up
Tally.ERP 9 can be started in any of the following ways :
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Click on
Start >
Programs
>
Tally.ERP 9
>
Tally.ERP 9
or double click on the
Tally.ERP 9
icon on your desktop
The welcome screen
Tally.ERP 9 – Power of Simplicity
appears while the software loads. You
will be ready to explore Tally.ERP 9, the moment the Tally.ERP 9 start up screen appears.
The
Tally.ERP 9
Start-up
Screen appears as shown below: