Page 315 - DMGT104_FINANCIAL_ACCOUNTING

Unit 14: Introduction to Tally

Self Assessment Notes

5. …………………… generates a report giving the details of Assets and Liabilities in vertical/
horizontal form.
6. To view Balance Sheet use the …………………… command and your screen will show the
Balance Sheet in the desired format.

14.6 Summary

 Tally is complete Accounting system. It handles different types of vouchers, for example,
Payments, Receipts, Journals, Debit Notes, Sales, Purchase, Delivery note, etc.
 Tally allows the user to define account heads as per his requirements. Tally offers 28
predefined widely used Groups.
 Tally allows users to select any report for a particular date or for any range of dates. Once
you have selected a Report, press F2 (F2 in case of Day Book) and specify the date range
(From and to).
 To create a company uses the command: Gateway of Tally > Company Info. > Create

 To create a Sales ledger: Go to Gateway of Tally > Accounts Info > Ledger > Create
 To create an input VAT ledger: Go to Gateway of Tally > Accounts Info. > Ledgers > Create
 To create a ledger for the Supplier: Go to Gateway of Tally > Accounts Info > Ledgers >
Create
 To create a balance sheet use: Gateway of Tally > Balance Sheet > Enter

14.7 Keywords

Balance Sheet: Balance Sheet generates a report giving the details of Assets and Liabilities in
vertical/horizontal form.
Shut A Company: Shut a company means to unload it without deleting it. Simply select it again
to load and work on it again.
Tally: Tally is versatile and massive software package. It is used by various types of trade and
industry.
VAT: It is multi point sales tax with get off for tax paid on purchase.

14.8 Review Questions

1. “Tally 9 is also concurrently multilingual communication”. Comment.
2. Briefly explain the meaning of tally? Write down the salient feature of VAT in Tally ERP 9.
3. Briefly discuss the Starting the Tally.
4. What is Balance Sheet? Write down the Gateway of Tally.

Answers: Self Assessment

1. Tally 2. Vouchers
3. Create 4. Company creation

5. Balance Sheet 6. Gateway of Tally > Balance Sheet > Enter

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