Introduction

Tally is powerful accounting software, which is driven by a technology called concurrent multi-

lingual accelerated technology engine. It is easy to use software and is designed to simply

complex day to day activities associated in an enterprise.Tally provides comprehensive solution

around accounting principles, inventory and data integrity. Tally also has feature encompassing

global business. Tally software comes with easy to use interface thus making it operationally

simple.Tally accounting software provides a solution around inventory management, stock

management, invoicing, purchase order management, discounting, stock valuation methodology,

etc.Tally accounting software also comes with drill down options, which can track every detail of

transaction.It helps in maintaining simple classification of accounts, general ledger, accounts

receivable and payable, bank reconciliation, etc.The technology employed by tally makes data

reliable and secure.

History of Tally

Tally Solutions was co-founded in 1986 by Shyam Sunder Goenka and his son Bharat Goenka

after the family's cotton business was destroyed by fire. It began as Peutronics Financial

Accountant, an accounting software application. The company was incorporated in 1991 and was

renamed Tally Solutions in 1999.Shyam Sundar Goenka was running a company that supplied

raw materials and machine parts to plants and textile mills in southern and eastern India. Unable

to find software that could manage his books of accounts, he asked his son, Bharat Goenka, 23, a

Maths graduate to create a software application that would handle financial accounts for his

business. The first version of the accounting software was launched as an MS-DOS application.

It had only basic accounting functions, and was named Peutronics Financial Accountant.Tally

Solutions sells enterprise resource software and business management software to SMEs (small
and medium-sized business enterprises.The company's flagship product, Tally.ERP 9, was

replaced by TallyPrime in 2020. In 2022, they worked with more than 28,000 partners.Tally

Solutions has collaborated with Amazon Web Services to make TallyPrime available on the

AWS. Products also include Shoper 9, which is a retail management software .

 Creating a company in Tally

In order to crate the company in Tally first:

 Launch the Tally Prime software on your computer.

 You will be on the “Gateway of Tally” screen.

 In the Gateway of Tally, look for” Company Info” or a similar option. This is usually

locate in the top of horizontal menu.

 Under "Company Info," look for an option to "Create Company" or "Alter Company."

Select the option to create a new company.

 You will be prompted to enter various details about the company, such as the company

name, address, financial year, and other relevant information. Provide the required

details.

 Specify the beginning and ending dates of the financial year.

 After entering all the necessary information, there should be an option to save the

company details. Save the information, and you will be prompted to Accept yes or

no .Click on yes if all the information provided are correct.

 After clicking yes you will be redirected to the prompt saying company created

successfully.

 Various other features of Tally

 SHUT A Company:
 Shut a company means to unload it. It does not mean that you have
deleted it. Simply select it again to load and work on it again.
 Choose Shut Company from the company info menu then Press Enter Key
or Press H.
 Select Company Name then Press Enter key.

 LOAD A Company OR Select Company:

 When the company is created it gets loaded automatically the first time.
However, you must select the company to load it.
 Choose select company from the company info menu then press Enter
Key or Press S.
 Select company name then press Enter key.
 Type Password & User Name. If required.

 ALTER a Company:
 You can modify, at any time any information given while creating the
company.
 First open your company Name.
 Choose Alter from the company info menu then press Enter key or
PressA.
 Select company name then press Enter Key.
 Modify company details as per your requirements.
 Press Ctrl+A to Save.

 DELETE a Company:
 To Delete an existing company first you load company in alter mode then
press Alt+D. A conformation message will appear.
 First open your company name.
 Choose Alter from the company info menu then press Enter key or
PressA.
 Select company name then Press Enter Key.
 Press Alt+D to Delete.
 Press Y.
 Process to create a voucher in Tally

 Launch the Tally Prime software on your computer.

 Choose the company for which you want to create a voucher.

 Go to the Gateway of Tally.

 From the Gateway, go to the "Vouchers" section.

 Select the appropriate voucher type based on the type of transaction you want to record

(e.g., Payment Voucher, Receipt Voucher, Sales Voucher, Purchase Voucher, etc.).
  In the voucher entry screen, enter the relevant details such as date, ledger accounts,

amounts, and any other necessary information.

 After entering all the required details, press A to save the voucher.

 If needed, you can print the voucher by selecting the "Print" option.

 After saving you can exit the voucher screen.

 Creating a ledger account in Tally prime

Creating a ledger account in Tally Prime involves defining a financial or non-financial entity for

which you want to maintain transactions. Here's a general guide on how to create a ledger

account in Tally Prime:

 Launch the Tally Prime software on your computer.

 Choose the company for which you want to create a ledger account.

 From the Gateway of Tally, go to create in Masters and then select "Ledgers."
 In the ledger creation screen, enter the necessary details for the new ledger account. This

may include:

 Name: Enter the name of the ledger.

 Alias: You can provide an alias if needed.

 Under: Choose the group under which the ledger falls (e.g., Sundry Debtors,

Sundry Creditors, etc.).

 GST Applicability: Set GST details if applicable.

 Opening Balance: Enter the opening balance if there is any.

  After entering the details, press Ctrl + A to save the ledger.

 After saving the ledger, you can exit the ledger creation screen.

 Recording a entry in Tally prime

In order to record a entry in tally prime follow the following instructions:

 Launch Tally Prime on your computer.

 Choose the company for which you want to record the entry. If you haven't created a

company yet, you need to create one before proceeding.

 On the Tally Prime screen, go to the "Gateway of Tally" by clicking on the button or

pressing the "G" key.

 Tally uses voucher types to record different types of transactions (e.g., payment, receipt,

sales, purchase). Choose the relevant voucher type for your transaction. Common

voucher types include:

 F9: Purchase Voucher

 F8: Sales Voucher

 F5: Payment Voucher

 F6: Receipt Voucher

 Enter the date of the transaction in the Voucher Entry screen.

 Specify the name of the party involved in the transaction. You can select it from the list

of ledger accounts or create a new one if needed.

 Fill in the relevant details such as the amount, ledger accounts, and any additional

information required for the transaction.

 After entering all the necessary details, save the entry by pressing "Ctrl+A" or clicking on

the "Accept" button.

 If you want to review the entered transactions, you can go to the "Display" menu and

select "Account Books" and then "Voucher Register" to view a list of all transactions

 If necessary, you can print the voucher or export it to a different format using the options

available in Tally Prime.

  Steps for opening List of ledger
On Gateway of Tally Click on Chart of Accounts.

List of Masters will open .Click on ledger.

List of ledger will open as shown below: