Gateway of Tally – Frequently Asked Questions

What is the difference between Current Period and Current Date?

Current Period

  • Current Period is the period for which you can perform any work from Tally. You may enter voucher and print reports within the current Period only. So re-set  it accordingly as required  during data entry and report printing.
  • At any Menu or GoT Click F2: Period button (or press Alt+F2) to get the Change Period screen and enter the Start & End Date to specify the Current Period.
  • If the financial year of the company is more than 12 months, you may extend the Current Period beyond 12 month Financial year, to keep several financial year data together in one Company, and enter voucher data for the extended Current Period

Current Date

  • Current Date  is carried as default Voucher Date during new voucher entry.  At any Menu or Voucher Entry screen (NOT at Report Display screen). Click F2: Date button (or press F2) and enter the Current Date (the next Date appears as default Current Date). The Current Date must be within the Current Period.

What is the difference between Current Period and  Report Period?

Though these periods may appear similar, they are, in fact, different.

Current Period

  • Current Period is the period for which you can perform any work from Tally. You may enter voucher and print reports within the current Period only.
  • Current Period  applies to all the selected Tally Companies. It is set through F2:Period Button (Alt+F2), at  GoT or at any Menu. 
  • Report Period: Report Period applies to the current  Display screen To set Report Period, at Display screen, press F2 function key (or click F2 :Period button), 

Both Current Period and Report Period are set through F2:Period button (Alt+F2 key). While Current Period is set at GoT or any Menu, Report Period is set at Display screen. The Current Period is carried as default to all currently selected Companies, while Report Period applies to specific Report for the current session only.

How you can perform Arithmetic Computation in Tally – Tally Calculator

At Calculator Area (press Ctrl+N to get Calculator Activated), type the arithmetic expression and press <enter>. The result will be shown in the next line. In arithmetic expression, you may use digits and parenthesis () only. Braces etc.,(like {}, [])  are not recognised by Tally (you will get error message).

The Calculation are done in BDMAS (Bracket, Division, Multiplication, Addition, Subtraction) order. So,

6/2*(1+2) =9, 6/2/2+1 = 2.5, 6/2*(1+2/3)=5. Find out how.

The history of past calculations are shown in the Calculator area, till the end of current session (till you exit Tally). You may move the cursor up & Down in the Calculator Area, select any calculation from the list, modify it and get result. Easy to use.

Click on the cross button at extreme right corner of Calculator pane to hide the Calculator. Press Ctrl+N to activate the Calculator pane. The earlier calculations will reappear, until you exit from the current session.

Tally Calculator can do only Basic Arithmetic Calculation. Functions like Index, Power, Factorial etc, cannot be done using Tally Calculator. So, Calculation for Compound Interest, Depreciation, Present Value, Future Value, Annuity, EMI etc, can not be performed through Tally Calculator. Rather than  creating its own Calculator, it would be better if Tally can call external Calculator  module, capable of doing all business computation, like other Financial Accounting Systems do.