Tally.ERP9 is one of the best accounting software applications in India. It is useful for all types of organisations to record their business transactions. It is a complete Enterprise Resource Planning system with excellent features of accounting, inventory, taxation, payroll management, cost centre and cost category and budgets and scenarios management.
General
Outstanding Management
Cost/Profit Centres Management
Invoicing
Budgets and Scenarios Management
Banking Features
Other Features
General
Storage and Classification
Order Processing
Invoicing
Purchase Management
Sales Management
Other Features
Goods and Service Tax (GST)
Value Added Tax
Excise
Service Tax
Tax Deducted at Source (TDS)
Tax Collected at Source (TCS)
Payroll Statutory
Cash Account
Profit and Loss Account
Sales ledger
Purchase ledger
Income ledger
Expense ledger
Party Ledger (Sundry Debtors or Sundry Creditors)
Bank Account
Current assets
Current Liabilities
Tax Ledger
Similar nature of ledgers are classified under a particular group. You can create number of groups based on requirement.
Example
Group: Telephone Charges (Indirect Expenses)
Ledgers: Airtel Telephone Charges
Idea Telephone Charges
BSNL Telephone Charges
Vodafone Telephone Charges
A ledger is the account head to identify the transaction and you can use ledgers in all accounting vouchers like, sales, purchase, receipt, payment, contra and journal.
Contra voucher (F4)
Payment voucher (F5)
Receipt voucher (F6)
Journal voucher (F7)
Sales voucher (F8)
Purchase voucher (F9)
Debit note voucher (Cntrl+F9)
Credit note voucher (Cntrl+F8)
Reversing journals (F10)
Memo voucher (Cntrl+F10)
Cash A/c Dr
To Bank A/c
Customer A/c Dr
To Sales A/c
To CGST A/c
To SGST A/c
Depreciation A/c Dr
To Accumulated Depreciation A/c
Computers A/c Dr
CGST A/c Dr
SGST A/c Dr
To Vendor A/c
The short cut to recall the narration is Alt+R
You can use short cut key Ctrl+Alt+C to copy text and Ctrl+Alt+V to paste text
Bank reconciliation is a process and it indicates the difference on a specified date or particular period between balance shown in pass book (bank statement) and balance shown in bank ledger (Tally). By preparing the bank reconciliation statement will find the causes of difference between the bank ledger and bank statement.
Trail Balance is summary of all the ledger balances for the particular period, the total of all debit balances and credit balances should be equal.
Path to view trail balance: Gateway of Tally -> Display -> Trail Balance
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