Computer Tally is an accounting software application package which is used by various companies to record their day to day business activities. It provides various tools and features to automate all business operations such as sales, record, inventory, manufacturing, finance, etc. Let us know more about tally latest version in this article.
What is Tally ERP?
Computer Tally is an accounting software application used to record various business operations such as purchasing, finance, sales, inventory, etc. It is used by small and medium enterprises which provides various functions and inbuilt controls to manage different business applications.
Highlights:
- Tally ERP 9: Released in 2006, Tally ERP 9 is the latest version of the software, offering a comprehensive suite of tools to manage various business operations such as inventory, sales, accounting, finance management, and more.
- Evolution of Tally Versions: Starting from Tally 4.5 in 1990 to Tally ERP 9 in 2009, the software has undergone significant evolution, transitioning from MS-DOS to Windows-based platforms, and introducing new features like payroll and Point of Sales along the way.
- Features of Computer Tally: Computer Tally offers a wide range of features including inventory management, finance management, cost and profit centers, job costing, taxes, and more. It automates business operations, reduces errors, enhances reliability, and simplifies calculations.
- Function Keys in Tally ERP: Tally ERP utilizes various function keys for different operations, such as F1 for context-sensitive help, F4 for toggling between voucher types, F8 for generating financial reports, and Ctrl + A for accepting a form, among others.
- Learning Opportunities: Individuals can enroll in Tally Prime Courses to learn the fundamentals and advanced aspects of Tally, including GST calculations. These courses offer recorded lectures, practice exercises, community support, and certificates upon completion, facilitating job roles like account assistant, junior accountant, and more.
Features of Computer Tally
Some of the major features of computer tally are given below.
- Tally ERP 9 is the latest version available which was released in 2006.
- Tally is an accounting software application used to manage various business applications.
- It manages different operations such as inventory, sales, accounting, record, manufacturing, etc
- It also manages accounting, finance management, inventory accounting, payables, BoM-based manufacturing inventory, cost and profit centres, job costing, taxes, and other operations.
- It can be used to store all business transactions and help to make calculations simple.Â
- It automate all business operations and help to carry out efficient transactions and saves a lot of time.
- It provide reliability in various business operations.
- The chances of error with the help of Tally software is reduced by a great extent.Â
- It is easy to learn and can easily be implemented.
- Small shops can also easily manage records like customer bills and other transactions easily.
Versions of Computer Tally
Some of the versions of computer tally are given below.
- Tally 4.5: It was the first version of Tally ERP software. It was released in the year 1990 and was based on MS-DOS.
- Tally 5.4: It is the second version of Tally software. It was released in 1996. This version of tally was based on a graphic interface mainly.
- Tally 6.3: It was the third version of Tally ERP software. It was released in the year 2001. This was the first Windows based version of Tally.
- Tally 7.2: It was the fourth version of Tally software and was released in the year 2005.Â
- Tally 8.1: It was the fifth version of tally. It was loaded with new features such as payroll, and Point of Sales.
- Tally 9: It was released in the year 2006 and fixed many bugs and errors. It consists of many features such as FBT, Payroll, E-TDS filing, etc.
- Tally ERP 9: It was released in the year 2009 and offers many automated features based on small and large business. It consists of many updated and latest features.
Steps to Install Computer TallyÂ
Check the steps given below to download the computer tally given below.
- Visit the official Tally website and download the Tally software. Students can get tally software free for learning purposes.Â
- Create your company by giving it a unique name with many options in the menu bar.
- Enter the information, choose currency, and mark the financial year.
- Tally is based on function keys and you must know about major function keys to execute different operations in computer tally.
- There are two different options, if handling ‘accounting only’ then manage only your account and ‘for inventories management’ account with tally inventory are used.
Basic Function Keys of Computer TallyÂ
Some of the basic function keys used in Computer Tally ERP are given below.
|
Accounting and Tally: Shortcut Keys |
|
| Key | Description |
| F1 | Accesses context-sensitive help. |
| F2 | Renames or alters masters, or changes the date. |
| F3 | Accesses the Company menu to select different companies. |
| F4 | Toggles between voucher types or selects a voucher type. |
| F5 | Accesses various reporting options for generating reports. |
| F6 | Accesses the List of Accounts or List of Groups. |
| F7 | Creates or navigates to journal vouchers. |
| F8 | Generates financial reports such as balance sheets. |
| F9 | Allows for transaction entry or detailed entry screens. |
| F10 | Configures GST details, company settings, or Payroll. |
| Ctrl + A | Accepts a form. |
| Ctrl + B | Inserts a voucher or masters. |
| Ctrl + E | Exits Tally. |
| Ctrl + N | Creates a new company. |
| Ctrl + Q | Aborts a form. |
| Ctrl + LÂ | Select the ledger |
| Ctrl + I | To select the inventory items. |
| Ctrl + R | Retrieves the last line which is deleted using the Alt + R or Alt + D. |
| Ctrl + T | Selects the first item in a voucher, master, report, or list. |
| Ctrl + Enter | Selects the last item in a voucher, master, report, or list. |
| Ctrl + P | Prints the report or document. |
| Create Ledger | ALC |
| Alt + E | Export |
| Ctrl + Enter | Change Ladder |
| Alt +U | To retrieve the last line deleted |
| Alt + V | It brings stock journal screen |
| Alt + R | For tally register |
| Alt+ W | To view the tally browser |
| Alt + X | To cancel a voucher |
| Alt + D | To delete the voucher |
| PgUP | Display previous voucher during voucher alter |
| PgDn | Display next voucher |
| Shift + Enter | It collapse next level crucial details |
| Esc | Cancels a form or exits a screen. |
Learn Tally with PW Skills
Enroll in our Tally Prime Course to learn fundamentals of tally. Also learn advanced accounting and GST calculations. Learn Tally with the experienced mentor and get various job roles such as account assistant, stock maintainer, junior accountant, accountant executive, etc.Â
Get recorded lectures, practice exercises, access to community channel, support, and certificates upon completion of course only at pwskills.com
Computer Tally FAQs
What is a computer tally?
Computer Tally is an accounting software application package which is used by various companies to record their day to day business activities. It provides various tools and features to automate all business operations such as sales, record, inventory, manufacturing, finance, etc.
Which software is tally?
Tally ERP is a business management software released and managed by Tally solutions Pvt. Ltd in India. It is used to manage different financial and accounting operations in businesses.
Is tally easy to learn?
Tally is easy to learn if you have knowledge of accounting. Also you can join a good course to receive good mentorship to learn tally easily.
