Project Report

SUBMITTED
IN FULFILMENT OF THE REQUIREMENTS FOR

100 Hours Information Technology Train

THE INSTITUTE OF CHARTERED ACCOUNTANTS OF

INDIA
 Batch 2
Group members
ROLL NO. NAME ICAI REG.NO
 22 ABHISHEK JAIN NRO0276716
 23 ANJALI AGGARWAL NRO0285971
 24 KUSH LUTHRA NRO 0282238
 25 ABISHEK JAIN NRO 0277260
 26 CHARU NRO 0277589
 27 DEEPAK KUMAR NRO 0262635
 28 SHIKHA VERMA NRO 0287217
 29 HEMANT JAIN NRO 0274466
 30 NAINA NRO 0281464
 31 SAURABH NRO 0274997
 32 AANCHAL NRO 0282374
 33 PARAS NRO 0280126
 Contents
 Intro of brief comparison b/w
various version of tally
 TALLY 6.3 OVER OLDER VERSION
TALLY 5.4
 NEW FEATURES TALLY 7.2 OVER
OLDER VERSION TALLY 6.3
 NEW FEATURES OF TALLY 8.1 OVER
TALLY 7.2
 NEW FEATURES OF TALLY 9 OVER
TALLY 8.1
 New features in tally erp 9 over tally
9
BRIEF COMPARISON BETWEEN VARIOUS VERSION OF TALLY
Tally 4.5
Tally was started with is first version of Tally 4.5, which was a
DOS based program. This program was very light weight and very
fast in operation.
Tally 5.4
The next version was 5.4 which was graphic interface version. It
became popular in the masses. Its pirated copy made it most
popular accounting software.
Tally 6.3
Next version was tally 6.3 which was truly windows based version
which could support fast printing and with VAT implemented. Tally
6.3 came with water tight security in terms of piracy. With its
dongle it was almost impossible to crack. Although crack of
software were available but Tally's policy of frequent upgrades and
newer releases does the trick.
 Brief Comparison between various
version of tally(continued)
 Tally 7.2
Next version of Tally was Tally 7.2. It was also fast version with lots
of new feature like statutory compliant versions. Different VAT rules
for different states was achieved with this version.
 Tally 8.1
Tally 8.1 was developed with new data structure of Tally. A module
of POS and Payroll was added to it. It could not live up to the
expectations with the people and marred by bugs. Company
rectified many but the version could not become popular and
company has to abort it before time and launch new version.
 Tally 9
This is the latest version of Tally which has maximum features. All
other versions have been declared end of life period by Tally
company. Tally 9 has advance features like Excise for Dealers,
Payroll, FBT, TDS, e-TDS filing facility etc along wit its regular
features related to accounting and inventory management.
TALLY 6.3 OVER OLDER VERSION TALLY
5.4

Release
The RELEAS Release 1.9 NEW
Release FEATUR
Extended E 1 NEW 1.1 new
1.2 new ES
Enterprise FEATUR feature
ES features
System s
 The Extended Enterprise System

The new Tally ees 6.3 comes with breakthroughs in

collaborative technology that extend your
company's capability of managing information
across your software applications and your offices,
with your business partners and your managers-on-
the-move. All this leads to accurate decisions for
improved profits.
 tally 6.3
NEW FEATURES RELEASE 1
Reorder
Levels

E-
capabilities Aged Stock
Analysis

Scenario
Tally ODBC
Management
 tally 6.3
RELEASE 1Reorder Levels
 Reorder level is that quantity in hand for a stock item, reaching which, you
should order your supplies. The importance of reorder level arises from
the desire to have sufficient stocks to service customer orders and at the
same time not to have unnecessarily high stocks. Therefore, the points to
be considered in deciding reorder levels are the lead time for suppliers to
deliver stock , the delivery time specified by the customer, and the stock in
hand to satisfy orders in the meantime. In simple mode, Tally accepts your
specified quantities only. In advanced, Tally considers past consumption
patterns to suggest reorder levels. You can however, give your own levels.
You may also specify the minimum quantity that is to be placed for each
order in either simple or advanced mode.
 The purpose of specifying reorder levels is to obtain a report that indicates
the stocks that need to be ordered. Hence, we will first specify and then
obtain the report.
 More:
 Specifying Reorder Levels
 Obtain Reorder Status and Quantities to order
 Alter Reorder Levels and minimum quantities
 tally6.3
RELEASE 1 Aged Stock Analysis (Ageing Analysis)
 A very important function of Working Capital
management is monitoring stocks. Money locked
up in stocks can adversely affect the liquidity of
a company and every company strives or should
strive to reduce stock levels to the optimum.
Every business (except perhaps the liquor and
antiques dealers) would prefer to dispose of
older stocks as they might deteriorate with time,
go out of fashion, or simply get forgotten. Tally's
aged stock analysis or Stock ageing enables you
to know the age of stocks in hand according to
when they were received and the purchase
value.
 tally6.3
How to view Ageing Analysis

Gateway of Tally > Display > Inventory Books > Ageing

Analysis
Select the Group of Stock Items to be analyzed
Ageing Analysis report produces a default ageing period of
<45 days, 45-90 days, 90-180 days and >180 days. You can
change the setting by using F6. The default report also
gives stock values based on Actual Purchase. Use Hide
Amount to view the report without values as has been
done above.
Since Negative Stocks cannot be aged, they are shown in a
separate column.
 Tally6.3
RELEASE 1Scenario Management
 Scenario management is a management tool that
enables different views of your information, both
accounts and inventory related, by selectively
including certain types of vouchers without affecting
the base data. This is useful in reports with
provisional figures without actually putting the
entries through the main books. It is also useful for
forecasting by entering forecast figures in
provisional vouchers and including them to get
forecasted figures.
 The vouchers that are used in Scenario Management
are:
 Optional Vouchers
 Memorandum Vouchers
 Reversing Journals
 tally6.3
RELEASE 1Tally ODBC
Tally uses ODBC to connect to other programs and exchange data dynamically.
 Outward Connectivity
 Inward Connectivity
 Outward Connectivity
Pick up data from Tally directly into other programs like Microsoft Excel or Word without
any programming! Print labels for greeting cards from the ledger addresses stored in
Tally! Even create templates for the likes of Audit Reports and Schedule VI forms and
plug in data from Tally. Tally's database is now open for use in most popular programs
to give you the unlimited flexibility of creating your own reports using up-to-date data
from Tally.
 Inward Connectivity
On the other hand, Tally ies 7.2 is capable of being programmed by TallyExperts to use
data from other systems much more easily. This permits you to continue using other
systems and use some of their data in Tally as if they were parts of one integrated
system. For example, a customer contact management program may contain various
details like status of an order and last contact made. Bring in that data into Tally to
merge into a report containing outstanding balances. Any changes in the other data
will be immediately reflected in Tally.
 Tally6.3
RELEASE 1 E-capabilities AND Release 1.1 new features

 E-capabilities
 E-mail
 Internet Publishing
 Web-browser
 Release 1.1 new features
 Optional Vouchers by default
 Item Invoice & Account Invoice
 Common Ledger A/c for Item Allocation
 Credit Period details in Ledger Master
 Use Defaults for Bill Allocation
 Accept Supplementary Details
 Single Entry Mode for Payment / Receipt
/ Contra
 tally 6.3
Release 1.9 NEW FEATURES
 Proxy Server Configuration
 A new configuration option has been added in the F12:
Configure menu.
A new configuration option has been
added in the F12: Configure menu.
From this release onwards, Proxy
server configuration is required for
those users who are behind a proxy
server and use Synchronization
feature of Tally as a Client. If
TallyClient accesses a TallyServer
through a proxy server then proxy
server details must be provided in this
option. Tally no longer depends on
Internet Explorer for proxy settings.
 tally 6.3
Release 1.9 new features
 Rejection In and Rejection Out
In Stock Vouchers sub-screen of Stock Item/Group monthly
summary reports, Rejection Out would be shown as Negative (-)
quantity in Inward Column, and Rejection In as Negative (-)
quantity in the Outward Column. In the event of Rejection In
(Material Inward but considered as (-) Outward), the Rate at which
the Item has been returned, will not affect the value of Closing
Stock and the value of material would be debited to respective
sales account only. In case of Rejection Out (Material Outward but
considered as (-) Inward), the Rate at which the Item is returned
will change the rate of Item for the balance Closing Stock.
 Synchronization
Modification in Op. Balance of a Debtor or partial adjustment of the
same against multiple receipts were not getting synchronized to
the server data. The same has been corrected in this release. In
case of change in the Op. Balance (In case of carrying forward the
balances to next year) the user must modify one of the existing
vouchers in order to synchronize the modified Ledger account.
 tally 6.3
Release 2.1 new features
 Tally Link Server
Tally Connected customers get access to a range of connected
services known as Tally Internet Services. Tally Link
Server is one of the services available as a part of Tally
Internet Services. It enables two instances of Tally to
communicate with each other without the requirement of
a fixed IP address in the server. Tally Connected customers
can synchronize their data using the Tally Link Server.
 Import/Export Snapshot --Helpful to setup
synchronization when both the companies participating in
synchronization have large no. of transactions
 Ability to Import any XML files of any size
 Option to compress data during Synchronization
 Insert Failure Voucher ID Error > Resolved
 TALLY 6.3
Release 3.14 - 3.15 NEW FEATURES
 The new licensing feature enables you to
register Tally even if you do not have a direct
Internet connection. You need to do this only once
and not monthly.
 If you are an Offline user, you can take a request
file to a computer with an Internet connection and
activate your copy of Tally easily.
 The license is now linked to a computer. However,
you can use the same Tally license on another
computer, by surrendering your license on the
first computer and reactivating it on any other.
NEW FEATURES TALLY 7.2 OVER OLDER VERSION
TALLY 6.3

Single User
Release 1 Salient
TDS in Licensing
New features of
Tally 7.2 ,Multi User
Features Tally VAT 1
Licensing
 Tally 7.3
Release 1 new features
 Integrated Enterprise Solution
 Tally 7.2 version has the latest taxation
structure integrated in it. These integrated
features in Tally will make it simple to manage
myriad issues that will arise due to the
complexities of taxation in your day-to-day
activities. Licensing has been simplified for
single-users and multi-users.

 New Features
 complete Value Added Tax (VAT)
 Tax Deducted at Source (TDS)
 Licensing
 tally 7.2
Release 1 Salient features of Tally VAT
 Salient features of Tally VAT
VAT is completely integrated with Tally 7.2. The VAT
functionality in Tally 7.2 supports the following
features, making it easier for computation:
 Quick & easy setup
 Fast & error-free voucher entry
 Pre-defined list of sales & purchase classifications
 Complete tracking of each transaction till annual returns
 Printing of Tax invoice
 VAT computation report
 Better VAT-returns management
 Monthly Return
 Tally7.2
Release 1,VAT Computation screen

 shows as follows:
 tally 7.2
Release 1 TDS in Tally ies7.2
 TDS (Tax Deducted at Source) in Tally ies 7.2 provides an easy-
to-use interface with complete flexibility. It helps you to handle
any intricate cases and to calculate the tax amount payable to the
Income Tax Department.
 Features of TDS in Tally ies 7.2
 The TDS functionality in Tally ies 7.2 supports the following
features:
 Simple and User-friendly
 Quick and Easy to set up and use
 Partial/Full payment of Tax deducted
 Auto and Manual calculation of TDS amount
 Generates TDS Challan and Exception reports
 Complete tracking of each transaction from deduction to payment
 Challan management and printing ensures prompt and accurate filing of
Tax
 The Auto allocation feature prevents error-prone data entry and helps
to track the transactions faster
Release 1Creating Tax Ledger

Gateway of Tally > Accounts Info

> Ledgers > Create
Name
Enter the name of the Tax Ledger
Under
Select the group as Duties and
Taxes from the list. On the
selection of group Duties and
Taxes, you will get the option to
select type of Duty/Tax.
Type of Duty/Tax
Select TDS tax type from the list
Nature of Payment
 Tally 7.2
Release 1--Single User Licensing ,Multi User Licensing
 Tally Silver for Single-User
 The single-user Licensing allows the deployment of Tally on ONLY ONE
computer with an option of activating it Online or Offline.
 However, you can use the same Tally license on another computer, by
surrendering the license activated on the first and reactivating it on the
other. If you are an Offline user, you can take a request file to a computer,
which has Internet connectivity and activate your copy of Tally easily.
 Tally Gold for Multi-User
 The multi-user Licensing feature facilitates the use of Tally on ANY NUMBER of
computers connected to a local area network (LAN) with a provision of
activating the license Online or Offline.
 However, the method of activation is no different from the one followed in
Single User Licensing system.
 After the successful installation of multi-user license on the License server, you
can have Tally start when Windows starts and run as a service in the
background. The License clients may install and use Tally later
NEW FEATURES OF TALLY 8.1 OVER
TALLY 7.2

Release 1.0 new features

Release 1.0 Major Changes and

Enhancements

Release 1.1 new features

 Tally8.1
Release 1.0 new features
 Tally 8.1 - A Multilingual Business Accounting &
Inventory Management Software provides
support for Fringe Benefit Tax computation
and VAT Composition returns generation in
addition to its language capabilities.
 New Features
 •Multilingual Support
 •Fringe Benefit Tax
 •VAT Composition Returns
 •Excise for Dealers
 tally8.1 Release 1.0 new features
 Multilingual Support
Tally 8.1 is so technologically advanced that it can operate in all Indian
languages concurrently! That means, you maintain accounts in any Indian
language view it in another and print it in yet another language of your
choice…. at the same time
 Fringe Benefit Tax
FBT (Fringe Benefit Tax) is a one time, easy to enable configuration. Tally
provides the complete tracking of expenses covered under FBT. It computes
FBT based on the eligibility criterion and generates FBT Challan and returns.
 VAT Composition Returns
VAT Composition Returns provides fast and error-free voucher entry with
complete tracking of each transaction. The Composition Rate of VAT is
automatically recognised based on the turnover. It prints VAT Composition
Returns for VAT enabled states. The tax payable is calculated automatically and
displays in the Return Form.
 Excise for Dealers
Excise for Dealers provides complete tracking of duty credit availed and
passed on.
 tally8.1
Release 1.0 Major Changes and Enhancements
 LIFO and FIFO valuation method
 Std Cost and Std Price Valuation method
 If you have not set Set Standard Rates? in Stock Item masters
but have set Costing Method to Std Cost and Market
Valuation Method to Std. Price. In Tally 7.2, the First Purchase
cost was taken into consideration for the Std Cost Valuation
and the First Sale price for Std Price valuation methods.
 However, Tally 8.1 accurately considers the Last Purchase cost
for Std Cost Valuation and the Last Sale Price for Std Price
valuation
 On Account values were being taken as
'overdue' in Ratio Analysis in 7.2
 In Tally 7.2, On Account values were taken into consideration
while calculating values for Due till today in Ratio Analysis.
 Tally 8.1 has resolved this and displays only the outstanding
values in Due till today. (for Sundry Debtors and Creditors)
 Tally8.1
Release 1.0 Major Changes and Enhancements
 Average Cost
 When Multiple Sales and Purchases are made against Receipt and Delivery Notes at a
rate different from that specified in the Receipt and Delivery notes
 For Example: Let us assume you have passed a Receipt Note for 100 nos. of an item
@ Rs. 100 per item. Subsequently you pass a Purchase Invoice for 30 nos of the item
@ Rs. 120 against the above Receipt Note. This means that some items are still
pending against the tracking number.
 In Tally 7.2, the difference in the rates would be incorrectly included in the original
value The balance sheet viewed with Avg. Cost valuation method displays closing
stock values at Rs. 10,600.
 This has been resolved in the new Tally 8.1, which accurately displays the Avg. Cost
closing stock valuation in the balance sheet as Rs. 10,000.
 Pending Tracking number values were approximate, even
though quantities were accurate (causing few Paise
difference depending on context)
 Tally 7.2 used to display pending Delivery/Receipt with approximate values, causing
a small difference in the values.
 Tally 8.1 has resolved this and displays the pending Delivery/Receipt Notes values
accurately.
 Tally8.1 Release 1.1 new features
 E-Mail Authentication
 Multi-accounting Allocation When you rewrite a company, the vouchers
with multiple accounting allocations will be retained if Use Common
Ledger A/c for Item Allocation is set to No.
 Synchronization of Altered Transactions Synchronization is possible even
when data migrated from Tally 7.2 consists of cancelled vouchers.
 Cost Centre Class in Stock Journal In Tally 8.1 you cannot select Cost centre
class while creating Stock Journals as it is not applicable.
 Migration The process of Migrating Data to Tally 8.1 is now effectively
enhanced.
 Migrating Currencies Multiple currencies can now be easily migrated to
Tally 8.1.
 Forex Gain Loss Calculations Tally 8.1 displays
accurate Debit and Credit amounts in the Ledger Forex Gain/Loss report
unlike Tally 7.2 in which Debit amounts were displayed asCredit and vice
versa.
 NEW FEATURES OF TALLY 9
OVER TALLY 8.1

Release Release Release

Release Release
1.1,Maj 1.2 1.3
1.0 New 1.31
or NEW NEW
Feature Enhanc
Enhanc FEATUR FEATUR
s ements
ements ES ES
 Tally9
Release 1.0 new features
 New Features:
•Payroll
•POS Invoicing
•Multilingual Support
•Statutory and Taxation
 Payroll
 It has been integrated with accounts, in order to simplify Payroll
processing. Payroll can be configured to suit the requirements of
various types of organization.
 You can now configure, align and automate simple to complex
payroll processes. You can print pay slips, maintain
salary/wages and attendance/ leave/ overtime registers, and
generate Gratuity and Expat reports. You can also configure Payroll
Data with cost centre reports for business analysis.
 The enhanced Payroll in Tally 9 is now simple and allows you to
generate a Pay slip four easy steps.
 Tally9
Release 1.0 new features
 POS Invoicing
POS Invoicing in Tally is equipped with ease of
use and advanced capability to simplify your retail
operations. It efficiently automates the ‘check-out’
process, and allows you to create invoices and
collect payments from customers, in a matter of
moments.
 Multilingual Support
Tally 9 now provides the language interface
support in;
Bahasa Melayu; and
Bahasa
Indonesia
.
 Tally9
Release 1.0 new features
 Statutory Compliance and Taxation
 Tally 9 now provides you with
compliance of VAT for different
states in India. It also provides you
 Service Tax for Malaysia
 Sales Tax for Malaysia
 VAT for Indonesia.
 Tally9
Release 1.1,MajorEnhancements
 New Attributes in Tally.ini
Tally 9 introduces three new attributes to the Tally.ini
file.
•Optimize Network
•Load Buffering
•Flush File
 FIFO Perpetual --Tally introduces a new method of
inventory valuation FIFO Perpetual, which is
similar to LIFO Perpetual. The Normal FIFO treats
the opening balance of the financial year as the
terminating rate to apply for residual stock. FIFO
Perpetual takes all existing past data. Both LIFO and
FIFO Perpetual are capable of changing the
valuation when the company is split unlike
 Tally9
Release 1.1 Major Enhancements
 Abatement in Service Tax Tally now offers you the
flexibility of entering the desired percentage of abatement in
service tax.
 Sales Invoice Printing You can now print any number of
sales invoices, with the appropriate print title.
 Option to Print Invoices as Excise or VAT Invoice Tally
now offers you the option Print as Commercial Invoice at
the Print Configuration screen. Set it to Yes/No to print an
Invoice either in the Commercial (VAT) or Excise invoice
format.
 Performance and Data Migration in Tally 9 tally 9 comes
with enhanced performance and improved stability over the
previous versions. The data migration tool has also been
enhanced resulting in more accurate and
speedier migration of data.
 Tally9
Release 1.2 NEW FEATURES
 Excise Opening Stock
 Calculation of Secondary Education Cess
 Calculation of CVD (On Import)
 Start of new Financial Year
 VAT Payment Vouchers – For India Only
 VAT Declaration in Excise Sales Invoice
 Education Cess on CVD in Excise Sales Invoice
 Duty Heads for Customs and Excise
 Actual Billed Quantity
 Designation of Signing Authority
 Interest Parameters
 Interest Calculation
 Formal Receipt
 Cheque Printing
 Foreign Exchange
 Multi Column Cash/Bank
 Tracking Consignee
 Tally9 Release 1.3 NEW FEATURES
 Godowns The address entered in the Godown creation screen appears
legible.
 Bank Reconciliation The Bank Reconciliation statement displays
appropriate entries as configured in F12: Configure.
 Stock Journal The value in the rate field of a Stock Journal (Transfer of
Materials) appears appropriately.
 Rejection In/ Out Vouchers--The Rejection Inward/ Outward vouchers
display the customer details as entered in the Mailing Details section of the
Customer ledger creation.
 Inventory Report--The Godown – wise Inventory reports now displays
accurate balance values whereas multiple Godowns are maintained.
 Price Level--Creating a Price Level, using Alt+C from the Price List screen
will display the same in the Price Level field spontaneously.
 Security Control--Tally provides access to the features/ options as
specified in the Security Levels screen.
 Cost Centre--Set the option Show Cost Centre Details also to Yes in
the Multi Account Printing for Group of Accounts to print the Cost Centre
details.
New features in tally erp 9 over tally 9
 Tally.NET
 Auditor’s Edition of Tally.ERP 9
 Payroll in Tally.ERP 9
 Automatic data replication/exchange with
synchronization
 Security Management
 Tally Audit
 Tally Vault
 Removal of data into separate company
 Extensibility (TDL - Tally Definition Language)
 Internal Backup / Restore
 Import / Export of Data
 Graphical Analysis of Data
 Statutory Compliance Capabilities
 tally erp 9
Tally.NET
 Meaning of tally net:
Tally.NET is an enabling framework which establishes a
connection through which the remote user can access
the Client's data without copying / transferring the
data. In other words, the remote user can access the
company data, provided the Company is open and
connected on Tally.NET
 Tally.NET Features:
Tally.NET is a default feature available in the product and
provides a host of capabilities. Register and Connect
companies from Tally.ERP 9 Create and maintain
Remote Users 􀂇 Remote access of data by any user
(including BAP users) 􀂇 Remote availability of
Auditors' Edition of Tally License 􀂇 Synchronization
of data (via Tally.NET)
 Tally erp 9
Auditor’s Edition of Tally.ERP 9
 Tally.ERP 9 offers a special Auditors' Edition of
Tally.ERP 9, which provides auditing and compliance
capabilities exclusively for Chartered Accountants.
The Audit capabilities provided in Auditors' Edition
are available by default, regardless of Tally.NET
subscription. Using Tally.NET features,
 Tally.ERP 9 provides the capability to Chartered
Accountants to Audit in following scenarios :
 Audit at CA's office by accessing local data
 Audit at Client's place by accessing local data
 Audit at his place by accessing Client's data
remotely
 Payroll in Tally.ERP 9
 Payroll refers to a series of accounting transactions
involved in the process of paying employees for
services rendered after taking into account all
statutory and non-statutory deductions. The efficient
payroll system in Tally facilitates error-free, accurate
and timely employee payments while ensuring that the
employment is well within the valid work permit.
 Payroll in Tally.ERP 9 handles all the functional,
accounting and statutory requirements of the payroll
department. It provides you with the flexibility to
define earning & deduction heads and supports the
computation and deduction of ESI, EPF, Gratuity, etc. It
supports user defined production units like
attendance, production, time based remuneration, and
other methods of calculating payroll. Comprehensive
reports based on cost centers and employee wise cost
can be generated.
 tally erp9
Automatic data replication/exchange with
synchronization
Synchronization refers to the process of Tally data being replicated between two or
more locations. This enables a branch office to send its data to the head office over
the Internet or a private network.
 tally erp9
Security Management
 Data Security Tally.ERP 9 use of data integrity checks
ensures that no external change to your data can affect
it. It uses a binary encoding format of storage to
prevent devious grouping of information. It also offers
access to your database thru an ODBC layer, which is
fully activated.
 User-defined Security Levels
Tally.ERP 9 offers you high levels of security. You can
define multiple levels of security as per requirements
and authorize users with individual passwords and
rights to access specific functionality only. User with
Administrator level password will have full access to all
features and will set access controls for other users.
 tally erp9
Tally Audit
 Tally audit feature provides you with
Administrator rights:
 a capability for you to check the accuracy and
correctness of the entries made by authorized
users.
 It allows you to alter the entries if required. Once
you audit the entries,
 Tally.ERP 9 displays for you all altered entries
with the user's name who altered the entry, the
date and time of alteration.
 The audit trail is also available in the day book
where the administrator can view the alterations
made.
THANK YOU