Financial Accounts

Basic Financial Accounts

Company creation
Company in Tally Prime, Data Migration from Tally ERP 9 to Tally Prime, New Company creation in Tally prime, Company Selection, Company Alteration, Company Deletion, Shutting of Company, Company Features set up, Company creation – Key Points.

Gateway of Tally
Gateway of Tally (GoT). Components of GoT. Current Period & Date Setting, Tally Calculator, Closing & Exiting Tally, Gateway of Tally-Key Points  

Account Masters
Account Masters. Reserved Accounts Masters.  Reserved Accounts Characteristics, Account Masters Creation. Account Group, Account Ledger, Creation of new Parent Group, Ledger Opening Balance entry, Cash Ledger Account Opening Balance entry, Alteration / Deletion of Account Master, Common Ledger Accounts Creation, Account Master – Key Points.

Accounts Vouchers
Accounts Vouchers. Voucher TypesVoucher Entry. Contra Voucher. Payment Voucher. Receipt Voucher. Journal Voucher. Sales Voucher. Purchase Voucher. Debit / Credit Note Voucher. Components of Voucher Entry Screen. Voucher Alteration & Deletion. Dormant Vouchers. Voucher Type. Single Mode Voucher Entry. Account Voucher – Key Points.

Accounts Reports
Accounts Reports Menu. Reports Printing. Printing of selected Report, Current Report Printing Configuration. Accounts Reports – Key Points

Cash Bank Book
Cash / Bank Book Display.  Contents of Cash / Bank Book. Cash Bank Book Printing. Cash Bank Book – Key Points.

Journal Books
Journal Books. Journal Register. Sales Register. Purchase Register. Debit Note Register. Credit Note Register. Journal Book – Key Points.

Ledger Book
Ledger Book.  Ledger Book Display. Ledger Book Printing. Confirmation of Accounts. Ledger Book – Key Points.

Trial Balance
Trial Balance. Trial Balance Display. Trial Balance Printing. Extended Trial Balance. Ledger Opening Balance statement. Trial Balance – Key Points.

Closing Stock Value
Closing Stock Value concept in Tally, Closing Stock Value Entry,

P L Statement
Profit & Loss Account. Stock Ledger Account. Closing Stock Value entry. Profit & Loss Statement. Profit & Loss Statement display. Profit & Loss Statement Printing. Profit & Loss Statement – Key Points.

Balance Sheet
Balance Sheet. Balance Sheet Display.  Balance Sheet Printing. Ratio Analysis. Balance Sheet – Key Points.

New Year Accounts
Starting New Year Accounts, Creation of new Company, Creation of Account Masters, Ledger Opening Balance Entry

Advanced Financial Accounts

Company Configuration Set Up explains the various General options to customise and avail extended features of Financial Accounting to personalise and get more out of the System.

Advanced Company creation explains additional info for the Company & advanced features for storing data at desired places, Back Up, Data Security, Base Currency properties set up, Multiple addresses & about Group Companies.

Gateway of Tally Expanse  gives details of various tools and facilities that can be invoked from Gateway, the Tally Main Menu and Help System.

Chart of Accounts explains the hierarchy and properties of Reserved Groups & Ledgers, the Basic Structure of the Accounting System of Tally.

Accounts Masters  Advance set up covers advanced features and configuration options of Account Groups & Ledgers

Multiple Accounts Masters describes the alternate smarter way of creation & maintenance of Accounts Masters.

Voucher Types explains creation of peer Voucher Types and configuration of its components & properties.

Voucher Classes explains creation of Voucher Types with advanced capabilities, customising the Voucher Type properties based on user specified parameters

Voucher Entry describes the advanced features of voucher data entry process, customisation of contents and display of Voucher data.

Single Mode Voucher Entry describes an alternate & contemporary method of entry of Voucher data

Interest  elaborates the method of setting Interest Parameters for computation of Interest for Account Current. It also explains user specified multi rate over-riding Interest Computation methods.

Reports Display explains the process of Display of Reports on screen, drill down, trace back and sideways traversing through related reports links, Reports customisation, defining & creation of Columnar Reports with user specified columns.

Reports Printing explains menu options of Accounting Reports Printing Configuration, report preview on screen and printing on paper. It also covers process of continuous bulk printing in one shot.

Accounts Masters List covers display of Accounts Masters in hierarchical and list forms and all types of Accounts Masters operation from within Masters List.

Accounts Voucher Printing explains process of instant Voucher printing during Voucher creation, Accounts Voucher Printing Configuration to set Voucher Contents and layout, printing of Money Receipts & payment Advice, continuous bulk printing of multiple vouchers in one shot.

Account Voucher Lists shows detailed list of each Voucher, which can be accessed directly through Day Book and through successive drill down from Accounts Books, Accounts Registers and Accounts summaries,

Books of Accounts explains Display, Print, Configuration of regular Books of Accounts maintained by organisations, like Single &Multi Account Cash / Bank Books, Journal Book, Ledger Book. Continuous bulk printing Accounts Books in one shot.

Columnar Register explains creation of user defined Columnar and comparative Reports with columns for multiple period & multiple Companies. Printing of wide columnar repots in multiple split parts.

Accounts Summaries shows Summary reports of various Accounts Books

Extended Trial Balance shows Trial Balance with comprehensive summary of Opening Balance, Transactions and Closing Balance of Accounts Groups & Ledger Accounts.

Receipts & Payments shows the summary & details of Receipts and Payments and summaries for any specified period.

Profit & Loss Statement set up explains configuration options for display of P L Statement with various formats and contents.

Balance Sheet set up explains configuration options for display of Balance Sheet with various formats and contents.

Queries & Filters  gives results from Accounts data based on values and ranges.

Data Maintenance explains advanced aspects of Data Path set up, Data Back Up, data Restore, and Data repairs.

Moving to New Year Accounts explains novel process of carrying Data from end of current financial year to next financial year, without any need to enter data to start next year accounts.

Fixed Assets Accounts highlights various methods to maintain individual Fixed Accounts records,  entries related to purchase, sale / disposal/ scrapping of old assets and Fixed Asset Analysis Reports.

Accounts Receivables & Payables (AR/AP)

Party Ledger Accounts explains additional features & info for maintenance & control of Accounts Receivables & Payables.

Sale / Purchase Vouchers  explains the advanced features and entry of additional details in Sales & Purchase transactions.

Invoice Printing explains configuration of Invoice Formats and its contents as per specific needs and printing of Invoices on-line and post entry in bulk.

Bill Register explains printing of Sales, Purchase Transactions details (and Debit & Credit Notes) in various formats and contents

Columnar Bill Register explains printing of Sales, Purchase, Debit & Credit Notes particulars in compact columnar format  with user defined column parameters.

Sale Purchase Summary describes various summary reports derived from Sales & Purchase transactions for better management  control.

Accounts Receivables & Payables  explains Bill Reference, the unique identifier to track transactions trails for each distinct transaction.

Outstanding Bills Statements  explains various reports for control & tracking of Open Accounts, like Age Analysis, reminder letters for overdues, final settlement of multiple Open Accounts of a Party, etc

Overdue Interest explains computation of Interest on overdue bills. It vividly covers Interest computed on complex terms of Payment & varied Interest rates for each transaction, where open accounts are settled through multiple payments.

Confirmation of Accounts Printing explains printing of Confirmation of Accounts, showing the Party Leder in letter from, to reconcile  the transaction between the debtors and creditors and acceptance of  each other’s accounts as contained in Confirmation of Accounts, by both sides.

Banking & Bank Accounts

Banking explains activation and set up of Banking features, creation of Masters, design & printing of  Cheques, entry of Cheque details in voucher, entry & printing of Bank Deposit slips etc.

Bank Reconciliation explains matching / tagging of cleared bank transactions to get Bank Reconciliation  Statement.

Auto Bank Reconciliation  explains downloading the e-bank statements from the website of the Bank and  auto-matching / tagging  of cleared bank transactions to get Bank Reconciliation  Statement

Cost Centres

Cost Centres  are parallel analysis of Accounting Transactions, into Multi Level hierarchical structure to provide structured analytic reports.

Cost Categories  further allows another dimension in Cost Centre analysis by providing multiple sets of Cost Centres, to which the amounts can be independently allocated in multiple parallel ways, enabling the user to create a complex multi dimensional analytic system to review the financial status and operations  for better analysis.

Cost Centre Class  is pre defined set of parameters to auto allocate ledger accounts into multiple Cost Centres

Financial Management

Financial Management covers concepts of Financial Planning & use of Financial Management tools for an organistaion.

Financial Budgets are about  presentation of  various Budget Plans for overall and sectional Budgets, & Budget Variance Analysis, for management actions

Scenarios help you to model Business Scenarios in different conditions for evaluation.

Cost Centre Budget explains Cost & Revenue Budget Plans of the operational activities  of each Cost Centre

Cash Flow shows the periodical Cash inflow & outflow for better cash management plans

Funds Flow shows the net movement of Working Capital for better operational planning

Cash Flow Projections show adequacy of available liquid fund to meet the  Payment Liabilities (Payables) in time, to avoid liquidity crisis and better cash management

Performance Analysis highlights some key analytical values to measure & evaluate various conditions,  focusing on strengths  & weaknesses of the enterprises.

Foreign Currency Accounting

Foreign Currency explains activation of Foreign Currency features of the Company, creation of multiple Currencies, and their Exchange Rates, etc

Foreign Currency Transactions explains Voucher entry in Foreign Currency  Currency, Reports with Foreign Currency details, Party Ledger Account, Ledger Outstanding,

Forex Gain Loss explains accounting adjustment of Currency Exchange Gain / Loss

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