Page 294 - DMGT104_FINANCIAL_ACCOUNTING

Financial Accounting

Notes

You can select a menu in either of the following mode:
 Press the highlighted character. Example, to select create Company, Press C (the highlighted
character). This is the easy way of selection.

 Move highlight bar on the option with up/Down arrow key in keyboard and press
Enter
 Double click the option (Click twice, fast in left button in mouse)

Tally provides predefined vouchers and also allows defining different types of vouchers as per
trade nature. The integrated system ensures real-time linking of accounts and inventory, resulting
in accurate tracking of information. Blazing speed ensures quick data entry and retrieval of
information. A Tally user can maintain ‘Outstanding Reports’ along with Age Wise analysis.
Credit Limits can be given ‘amount wise’ as well as ‘period wise’. Once Credit limits are set for
a Party, then the user cannot bill the particular Party beyond the specified limit. Only the
authorized user can alter the Credit Limits. This helps to monitor as well as control any potential
slow collection and warns about the potential bad debts.

Did u know? Using the function key F11 and configuration key F12 we set these type of
limitation for accounting and inventory transaction.

14.2 VAT Features in Tally ERP 9

The salient features provided for VAT in Tally.ERP 9 are as follows:
 Quick, easy to setup and use.
 Predefined VAT/Tax Classifications for Purchase and Sale of goods

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