Khadar Sainagar, Anantapur

T LY AL

STEP 1: CREATE company

On gateway of tally press Alt + F3. You got company information menu select create company option. You get one form. Fill the form and at last accept. If you maintain inventory in business put business type as Accounts with Inventory. If you dont maintain inventory put business type as Accounts only. Inventory means Commodities or Articles purchased by the trader for the purpose of resale. If any thing purchased by trader and resale then that is inventory. Inventory purchased by trader for the purpose of resale.

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Khadar Sainagar, Anantapur

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Khadar Sainagar, Anantapur

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Khadar Sainagar, Anantapur

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the nature of the accounts involved.
Figure 1

See

Gateway of tally Accounts Info. Ledger

Khadar Sainagar, Anantapur

Single creation Create You get ledger creation form. Write the name of Ledger in name column and decide the group concerned to Ledger. There are predefined groups in the tally.

Ledger Name
Purchase Account Purchase Return A/c Carriage In Words (Carriage on Purchase) Duty and Clearing Charges Direct, Productive or Manufacturing Wages Factory Rent & insurance Motive Power Coal, Gas, Water Factory Lighting` Factory Expense Manine insurance Dock Expense Sales Account Sales Return Account

Group
Purchase Account Purchase Account Direct Expense Direct Expense Direct Expense Direct Expense Direct Expense Direct Expense Direct Expense Direct Expense Direct Expense Direct Expense Sales Account Sales Account Indirect Expenses Indirect Expenses Indirect Expenses Indirect Expenses Indirect Expenses

Administrative Expense
Office Salaries Office Rent, Rates, Taxes Office Lighting Office Insurance Printing & Stationary

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Khadar Sainagar, Anantapur

Postage and Telegram Legal Expenses Audit Fees General Expenses Repairs & Renewals Bank Charges and Commission Telephone Charges Staff Expenses Selling and distribution expenses Godown Rent and Insurance Packing Expense Advertising Bad Debits Traveling Expenses Discount allowed Brokerage Free Samples Carriage Outwards (Carriage on Sale) Delivery expenses Packing Expenses Subscription Travelers Salary Financial Expenses Discount Allowed Interest on Capital Interest on loan Maintance & Depreciation Repairs to buildings Repairs to Furniture Repairs to Machinery Depreciation Account Provisions Provisions for Resure for Doubtful debts Provisions for Discount on Debits Any Administrative or Provisions Income Discount Received

Indirect Expenses Indirect Expenses Indirect Expenses Indirect Expenses Indirect Expenses Indirect Expenses Indirect Expenses Indirect Expenses Indirect Expenses Indirect Expenses Indirect Expenses Indirect Expenses Indirect Expenses Indirect Expenses Indirect Expenses Indirect Expenses Indirect Expenses Indirect Expenses Indirect Expenses Indirect Expenses Indirect Expenses Indirect Expenses Indirect Expenses Indirect Expenses Indirect Expenses Indirect Expenses Indirect Expenses Indirect Expenses Indirect Expenses Indirect Expenses Indirect Expenses Indirect Expenses Indirect Income
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Khadar Sainagar, Anantapur

Commission Received Interest Received Rent Received Dividends Received Income from Investments Discount on Creditors Bad Debts Recovered Appreciation Account Profit on Sale of Assets Sundry income or recurring Land & Buildings Machinery Furniture & Fixture Sundry Debtors Bill Receivable Good Will, Patents, Trade mark Security Deposit (Given) Deposit Received Loan given Loan Taken Advance Salary Telephone Deposit Accrued Interest Capital Account Sales Tax & excise duty Any expense payable Drawings Income Received in Advance INVENTORY INFORMATION:

Indirect Income Indirect Income Indirect Income Indirect Income Indirect Income Indirect Income Indirect Income Indirect Income Indirect Income Indirect Income Fixed Assets Fixed Assets Fixed Assets Sundry Debtors Current Asset Intangible Assets (Fixed Asset) Deposit (Assets),(Current Asset) Current Liabilities Current Liabilities Loans & advances (Current Asset) Loans & Advances (Current Asset) Deposit (Asset) Current Asset Capital Account Duties and Taxes Current Liability Capital Account Current Liability

Inventory or Goods: It refers to Commodities, articles or things in which a trader deals. Goods refer to Commodities or things intended for resale. Unsold goods lying in a business concern on any given date are called Stock. Inventory are the goods which are purchased by the trader for the purpose of resale. Gateway of Tally

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Khadar Sainagar, Anantapur

Inventory information Step 1 Stock group Name : Finished goods Under : Primary Accept Inventory info Step 2 Units of measure Symbol: Nos. Formal Name: Numbers Accept
Inventory info

Step 3 Inventory name: Washing Machine Under Group : Finished goods Units :Nos. Accept Given opening balance if any.

Voucher Entry F2 Date: To give the date of voucher F4 Contra: This voucher is used for below transactions 1. Deposited cash in Bank
By bank a/c Dr. To Cash a/c 2. Withdraw cash from bank for office use By Cash a/c Dr. To Bank a/c

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3. Opening Bank account in SBH By SBH a/c Dr. To Cash a/c F5 Payment: This voucher is used to give payment 1. Paid Direct Expenses or Indirect Exp. 2. Paid to Sundry creditor 3. Given loans & advances to somebody, When cash is getting amount from business this voucher is used. Cash account should be credited and opposite a/c should be debited purchase or fixed assets on cash basis also considered. F6 Receipt: This voucher is used to take receipts. 1. Received Direct and indirect income 2. Received from sundry debtors. 3. Taken loan / advances from somebody. When cash is getting into business this voucher is used cash account should be debited and opposite account should be credited. Selling of fixed assets on cash also considered. F8 Sales: This voucher is used to sale only inventories. Whether the inventory sale on credit or cash basis. Assets on cash / credit should not be taken in this voucher. If Inventory sale on cash basis then cash account should be Debited or else on credit party account / Sundry Debtor account should be debited. In this voucher sales account always credited. 1. Inventory sale on cash basis By cash a/c Dr. To Sales a/c 2. Inventory sale on credit basis

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Khadar Sainagar, Anantapur

By Party name a/c Dr. To Sales a/c F9 Purchase: This voucher is used to purchase only Inventories whether on Cash basis / Credit basis. If inventory purchase on cash basis then Cash account should be credited or else party account / Sundry creditor account should be credited. In this voucher purchase account always Debited. Fixed assets purchased on cash / credit basis should not be taken in this voucher. 1. Purchase inventory on cash basis By Purchase a/c Dr. To cash a/c 2. Purchase inventory on credit basis By Purchase a/c Dr. To Party a/c or Creditor a/c F7 Journal: In this voucher below transactions are taken 1. Opening Entries 2. Closing Entries 3. Rectification Entries 4. Adjustment Entries 5. Asset purchased on credit. 6. Cancellation Entries

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Khadar Sainagar, Anantapur

INVENTORY INFORMATION:

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