Tally Accounting from Basics to Advanced: Company Setup, Ledger, Vouchers & Reports

Learning Tally Accounting starts with understanding its development, features, and role in accounting activities. Tally has evolved through different versions, with new capabilities introduced over time. These include inventory, auditing, import and export features, VAT, TDS, Service Tax, payroll, multilingual features, and remote access.

Tally ERP 9 offers features such as simplicity, speed, remote access, backup and restore, multilingual support, and support for multiple protocols. It can also generate accurate reports, while Tally.NET enables remote users to access data without copying or transferring it. The Support Centre allows users to post queries related to functional and technical aspects of the product.

Tally Accounting - Overview

Tally Accounting provides a foundation for understanding accounting software, its development, and the features available in Tally ERP 9. Tally has progressed through several versions, with capabilities added for inventory, auditing, import and export, taxation, payroll, multilingual use, and remote access.

Tally ERP 9 also includes features such as backup and restore, remote access, reporting, Tally.NET, and Support Centre. It is designed to be simple to set up and requires basic accounting knowledge to use.

What Is Tally Accounting and Why Is It Used?

Tally is accounting software that has evolved through several versions, with Tally ERP 9 offering features designed to make accounting work simpler and more efficient. It is easy to set up and requires basic accounting knowledge to use. Tally ERP 9 can also generate accurate reports that can support management in making appropriate decisions.

Key Features and Benefits of Tally

Tally ERP 9 includes several features that support accounting and data management. Its key features include:

• Simplicity: Tally ERP 9 is easy to set up and use with basic accounting knowledge.

• Speed: It can generate accurate reports to support management decisions.

• Remote Access: Users can access data remotely from anywhere and anytime.

• Backup and Restore: Built-in backup and restore allow company data to be backed up in a single directory.

• Multilingual Support: Tally supports multiple languages, including nine Indian languages.

• Protocol Support: It supports protocols such as HTTP, HTTPS, FTP, SMTP and ODBC.

Tally Versions and Evolution

Tally has evolved through several versions, with each version introducing additional features and capabilities. The progression started with DOS-based accounting and inventory and gradually expanded to include auditing, import and export, taxation, payroll, multilingual features, and remote access.

Evolution from Tally 4.5 to Tally ERP 9

The major Tally versions and the features associated with them are:

Key Improvements Across Tally Versions

The development of Tally added new capabilities at different stages. These included inventory and auditing features, import and export functions, taxation-related features, payroll, multilingual support, and remote access. This progression expanded the range of functions available across the different Tally versions.

How to Get Started with Tally?

Getting started with Tally means understanding its basic options and frequently used shortcut keys. These shortcuts make it easier to access important functions such as company selection, the Gateway of Tally, calculator, and date and period settings.

Essential Tally Shortcut Keys

The commonly used shortcuts include:

Creating Company Setup, Ledger, Vouchers and Reports in Tally

Company creation, ledger creation, voucher entry, and reports are important areas of working with Tally. The following sections cover the information supported for each topic.

1. How to Create a Company in Tally?

The specific details and step-by-step process for company creation in Tally are not covered. Tally provides shortcut keys for basic company-related functions. F1 is used to select a company, Alt+F1 to shut a company, and F3 for the company option.

2. How to Create a Ledger in Tally?

Specific information about ledger creation in Tally, including groups, ledgers, and the creation process, is not covered.

3. How to Enter Vouchers in Tally?

A Credit Note Voucher can be selected using Ctrl+F8. However, the detailed voucher-entry process and complete list of voucher types are not covered.

4. Tally Reports: How to View Accounting Information

Tally ERP 9 can generate accurate reports that can help management make appropriate decisions. Specific report types and detailed steps for viewing individual reports are not covered.

Advanced Tally Features

Tally ERP 9 includes several features for managing and accessing company data. These include backup and restore, remote access, Tally.NET, and Support Centre.

Backup, Remote Access and Support

• Backup and Restore: Tally ERP 9 has built-in backup and restore, allowing company data to be backed up in a single directory on a local system disk.

• Remote Access: Tally provides capabilities to access data from anywhere and anytime.

• Tally.NET: It establishes a connection that allows remote users to access data without copying or transferring it.

• Support Centre: It allows users to post queries related to functional and technical aspects of the product.
  Tally also has some limitations. These include low security, risk of data loss and intrusion, lack of flexibility, and limitations for multi-branch use.