Meaning of Tally Prime 4.1 :- Tally is accounting software where we store our acoustic generates reports which provide by tally academic company into tally program .
In tally account package input accounts/ledger , Stock, budget, cost center and accounting voucher only all other process i.e ( pasting into ledger, preparing final account and other reports ) automatic generates and finally some options we should compose/ set.
Contents of Tally Notes :
- Accounting:
- Double Entry System
- Rules of Double Entry System
Few basic terms:
- Journal:
- Ledger:
- Trial balance:
- Balance sheet:
Profit and loss A/c:
- Assets:
- Liabilities:
- Advantages and Dis Advantages of Tally
- How to open Tally?
- How to create company?
- Gateway of tally
- Inventory Info.
- Account voucher entry:
- Voucher alteration and deletion
- Types of voucher
- VAT (value added tax):
Practice:
- Shortcut keys:
- Assignment for practice
- Assignment 1 to 7
Vouchers
- Purchased voucher:
- Receipt voucher:
- Payment voucher
- Balance sheet as
- Stock as per schedule on
Accounting:
The main purpose of accounting is to ascertain profit or loss during a specified period, to show financial condition of the business on a particular date and to have the control over the firm‟s property. In other words an account is a systematic record of all transaction relating to a person, an asset, a liability, an expense or an income. Account is also called A/C. such accounting records are required to be maintained to measure the income of the business, communicate the information. So that it may be used by manager, owners and other parties.
Double Entry System:
We have seen earlier that every business transaction has two aspects, i.e., when we received something we give. Something else in return. For Example, when we purchased goods for cash, we received goods and give cash in return, similarly in a credit sale of goods, goods are given to the customer and customer becomes debtor for the amount of goods sold to him. This method of writing every transaction in two accounts is known as Double Entry System Of Accounting of the two accounts, one account is given debit while the other account is given credit with an equal amount. Thus, on any date, the total of all debits must be equal to the total of all credit because every debit has a corresponding credit.
Rules of Double Entry System/Golden Rule Of Accounting:
There are separate rules of the double entry system in respect of personal, real, and nominal accounts which are discussed below……
- Personal account: These accounts record a business dealing with persons or firms. The person receiving something is given debit and the person giving something is given credit. In other word personal account recording transaction with person or firm.
Personal Account Rule
DEBIT THE RECEIVER
CREDIT THE GIVER