Tally is the most popular and Highly Effective accounting tool which makes the life of an accountant easier. Anyone who is looking to enter in the field of accounting or wishes to lead a successful career in accounting must learn Tally. ERP 9 as the benefits of using Tally. ERP 9 are more for both small and medium-sized businesses. Moreover the simplicity is the driving force which allures the users of financial information to actively use Tally as the ERP solution for their businesses.
How To Use Tally. Tally Solutions Updated on: August 24, What is Tally. ERP 9? How to use Tally. Conclusion What is Tally. The entire thing could be pictured as the installation of any machinery in the workplace.
Process 1: Installation : Buying a machine, we first install it for using it Tally software can be purchased and downloaded from the Tally website. Process 3: Create a Company : After we get some idea about the machine, we set the program for it to work To use Tally, we will first need to create a company in the program. Even when we are not using tally professionally, we still need to create a company using the following steps : Step 1: In the opening menu, select "Create Company" Step 2: Enter Company details : Enter the company name as it appears on banking records Enter the company address, statutory compliance, telephone number, and email Step 3: Turn on "Auto Backup" to ensure that a copy of all your work is saved in case something happens to the original.
Step 4: Choose your currency Step 5: If you are using Tally to just manage your accounts, then select "Accounts only" in the Maintain menu and If you are using Tally for inventory management as well, select "Accounts with inventory". Step 6: Enter the start of your financial year and the start date for the books Process 4 : Usage: Now since we were going to use the machine, it becomes important to first learn about the machine's usage Operations How to use Tally.
Choosing the right group is important, as it will affect how numbers and sales are totalled later Step 3: Give the ledger a name. Enter a name for your ledger to know what the ledger contains in it without having to open it Step 4: Enter an opening balance if any.
If you are starting a ledger for the amount owed to a Vendor, the amount you owe would be the starting balance Creating Vouchers Understand the purpose of vouchers: It is a document that contains the details of a financial transaction. F5: Payment This voucher is used for payments made by the business. F6: Receipts For recording any income earned by the company sales, rent, interest, etc. F7: Journal For recording all adjustment or due entries such as prepaid expense, accrued income etc.
ERP 9 software from the official Tally website. There is a day trial version that you can opt for to better understand how the Tally software works before purchasing a premium package. Another option for how to use Tally is using it in the Educational mode. This, however, comes with restricted features. Here, it is important to note that in Tally, everything has a keyboard shortcut.
The key is usually displayed next to the option, and learning about these short-cuts will help you to boost efficiency and productivity. A ledger helps you to record all the transactions of different accounts. You can create a separate ledger for different accounts that you do business with. This will provide more clarity if you need information on transactions of a particular account in the future.
Step 3 — After creating a ledger, you also need to choose which group a particular ledger will be assigned to. Step 4 — Also, for easy identification, always enter a name for your ledger so you know what it contains. Step 5 — Lastly, enter the opening balance. For a bank account, the opening balance in the ledger would be the current amount in your account. For an amount owed to you by a client or a contractor, the starting amount would be what they owe you.
One of the perks of using Tally. ERP 9 is that it comes with several pre-configured types of vouchers. A voucher is a document that records the details of a financial transaction and is used by businesses for multiple purposes such as sales, deposits, everyday expenses, etc. Step 2 — Next, from the right-hand-side menu, select a voucher option from the available list.
Step 3 — Lastly, you need to fill the required details based on the type of voucher you created. You also need to choose which ledger the voucher will be attached to. Plus, enter the names of the parties involved as well as the date. This sums up how to use the Tally software. This was a brief Tally. ERP 9 introduction for beginners that just skims on important features. There are many more features that are part of the Tally.
ERP 9 software that one can use based on their business needs. Thus, we hope this how to use Tally. ERP 9 step-by-step guide was helpful and if you need help with setting up a Tally software for your business, then feel free to get in touch with us.
We also provide you with a user manual and feature list with screenshots to get you started. If you need more hands-on support, just give us a call or drop an email. ERP 9 itself. Continue focusing on your business, and let Tally take care of all your compliance needs. ERP 9 supports all industry-standard data formats. You will face no data integration or migration issues.
Get an unmatched experience of simplicity, reliability, speed and flexibility while using Tally. ERP 9. Focus on growing your business and let Tally manage your business and VAT compliance. Visit TallyHelp to explore more. How to Use Tally. Tally Solutions Updated on: February 3, Get started with Tally.
Select Country. Don't forget to select your Emirate if you are from the UAE. You can name the ledger as per your preference. For example: VAT Ledger. Enter remaining details as required.
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