Unit-5
Fundamentals of Accounting
(Tally ERP 9)
Topics: Computerized Accounting Systems (Tally.ERP 9): Creating a Company;
Configure and Features settings; Creating Accounting Ledgers and Groups; Stock
Items and Groups; Vouchers Entry including GST; Generating Reports - Cash Book,
Ledger Accounts, Trial Balance, Profit and Loss Account, Balance Sheet, Selecting
and shutting a Company; Backup, and Restore data of a Company
1. What are the Features of Tally? Explain (Or) Explain Tally Technology.
Tally 9 has powerful, in-built features that are designed to meet the complex needs of
a growing business. These features will help you speed up your business processes,
take quicker decisions and enhance your productivity.
Simple and rapid installation: Tally has a simple, menu-driven installation procedure.
The user can install the program files on any drive if the hard disk has partitions. The
user can also specify the name and directory location of the program files. Tally uses
minimum hard disk space in the local drive. Its installation on the local disk takes just a
few seconds.
Unlimited multi-user support: A multi-user version of tally can be installe3d on a
network, having any number of computers with different operating systems such as
Win 95, 98, NT, 2000, XP and Linux.
Internal backup/restore: Tally has an in-built, user-friendly ‘backup and restore’
option. It helps the user to take a backup of one or more companies or all companies,
in a single directory, in the local hard disk, or in any external media.
Data reliability: Tally offers reliable data. It uses a flexi-field, flexi-length, self
indexed, weighted file structure for an extremely compact and fast database. Tally is
robust and even if there is a power failure or the computer is incorrectly shut down,
data is not lost. Tally uses signaling quality data integrity checks, at regular levels, to
ensure the complete reliability of data.
Data security: Tally’s data integrity checks ensure that there are no external changes
to
the data. Tally also uses a binary encoding format of storage to prevent devious
grouping of information.
User-defined security levels: Tally offers high level of security. Users can define
multiple levels of security according to their requirements. Every authorized user in the
company can have an individual password, with rights to use specific features only.
The user with the administrator level password will password will have full access and
can set controls for other users.
Tally audit: The Tally audit feature provides the user with administrator rights and the
capability to check the entries made by the authorized users and alter these entries, if
necessary. Once the entries are audited the entry, and the date and time of the
alteration.
, Multi-directory for company management: The user can create multiple directories to
store data. The data stored in these directories can be accessed directly in Tally, by
specifying the path.
Import/Export of data: Any transaction can be exported and imported to other
software after suitably altering the current structures to accept the Tally data
structure. Data can also be imported to Tally by writing a TDL (Tally Definition
Language) program. The data which is to be exported from Tally can be in XML,
HTML or ASCII format.
Graphical analysis of data: Tally provides graphical analysis of data which helps the
user to perform deeper analysis. The user can generate graphical analysis reports
such as sales register, purchase register, ledgers, funds flow, cash flow, stock item
registers and so on.
ODBC (Open Database Connectivity) compliance: It allows other programs to use
data from tally, directly. Thus any program such as Ms-Excel or Oracle, which is
ODBC compliant, can use data from Tally. Data connectivity is dynamic, which means
that any udate in Tally is reflected in real time in other ODBC compliant software.
Protocol support: Tally provides protocol support for HTTP, FTP, SMTP, ODBC and
raw sockets with data interchange formats such as XML, HTML with XML islands, can
be put into or taken from Tally. Formats refer to the standard for information to be
generated from tally or from other applications which can be exchange data with tally.
Direct web browser access: While working on Tally, the user can directly log on to the
Tally website, provided he/she has access to the Internet. The website lists details of
all the facilities offered by Tally. The user can also download the latest release of tally
as and when it is available. The Tally website also offers Tally Chat by which a user
can communicate with a Tally representative and get required information.
E-mail facility: Tally facilitates the mailing of any Tally report or document.
Multilingual capability: Tally is the world’s first accounting and inventory software
with multilingual capability. Currently, Tally 9’s multilingual capability extends to 12
languages which include nine Indian languages(Hindi, Gujarat, Punjabi, Tamil, Telugu,
Marathi, Kannada, Malayalam and Bengali), Bahasa Melayu and Bahasa Indonesia.
Ability to preview and publish reports and documents on the Internet: Companies
which want to publish reports and price lists on their website can do so directly from
tally.
, 2. Explain components of Tally screen. (Or) Explain parts of Tally screen.
8 9 2 3
1
7 6 4 5
Fundamentals of Accounting
(Tally ERP 9)
Topics: Computerized Accounting Systems (Tally.ERP 9): Creating a Company;
Configure and Features settings; Creating Accounting Ledgers and Groups; Stock
Items and Groups; Vouchers Entry including GST; Generating Reports - Cash Book,
Ledger Accounts, Trial Balance, Profit and Loss Account, Balance Sheet, Selecting
and shutting a Company; Backup, and Restore data of a Company
1. What are the Features of Tally? Explain (Or) Explain Tally Technology.
Tally 9 has powerful, in-built features that are designed to meet the complex needs of
a growing business. These features will help you speed up your business processes,
take quicker decisions and enhance your productivity.
Simple and rapid installation: Tally has a simple, menu-driven installation procedure.
The user can install the program files on any drive if the hard disk has partitions. The
user can also specify the name and directory location of the program files. Tally uses
minimum hard disk space in the local drive. Its installation on the local disk takes just a
few seconds.
Unlimited multi-user support: A multi-user version of tally can be installe3d on a
network, having any number of computers with different operating systems such as
Win 95, 98, NT, 2000, XP and Linux.
Internal backup/restore: Tally has an in-built, user-friendly ‘backup and restore’
option. It helps the user to take a backup of one or more companies or all companies,
in a single directory, in the local hard disk, or in any external media.
Data reliability: Tally offers reliable data. It uses a flexi-field, flexi-length, self
indexed, weighted file structure for an extremely compact and fast database. Tally is
robust and even if there is a power failure or the computer is incorrectly shut down,
data is not lost. Tally uses signaling quality data integrity checks, at regular levels, to
ensure the complete reliability of data.
Data security: Tally’s data integrity checks ensure that there are no external changes
to
the data. Tally also uses a binary encoding format of storage to prevent devious
grouping of information.
User-defined security levels: Tally offers high level of security. Users can define
multiple levels of security according to their requirements. Every authorized user in the
company can have an individual password, with rights to use specific features only.
The user with the administrator level password will password will have full access and
can set controls for other users.
Tally audit: The Tally audit feature provides the user with administrator rights and the
capability to check the entries made by the authorized users and alter these entries, if
necessary. Once the entries are audited the entry, and the date and time of the
alteration.
, Multi-directory for company management: The user can create multiple directories to
store data. The data stored in these directories can be accessed directly in Tally, by
specifying the path.
Import/Export of data: Any transaction can be exported and imported to other
software after suitably altering the current structures to accept the Tally data
structure. Data can also be imported to Tally by writing a TDL (Tally Definition
Language) program. The data which is to be exported from Tally can be in XML,
HTML or ASCII format.
Graphical analysis of data: Tally provides graphical analysis of data which helps the
user to perform deeper analysis. The user can generate graphical analysis reports
such as sales register, purchase register, ledgers, funds flow, cash flow, stock item
registers and so on.
ODBC (Open Database Connectivity) compliance: It allows other programs to use
data from tally, directly. Thus any program such as Ms-Excel or Oracle, which is
ODBC compliant, can use data from Tally. Data connectivity is dynamic, which means
that any udate in Tally is reflected in real time in other ODBC compliant software.
Protocol support: Tally provides protocol support for HTTP, FTP, SMTP, ODBC and
raw sockets with data interchange formats such as XML, HTML with XML islands, can
be put into or taken from Tally. Formats refer to the standard for information to be
generated from tally or from other applications which can be exchange data with tally.
Direct web browser access: While working on Tally, the user can directly log on to the
Tally website, provided he/she has access to the Internet. The website lists details of
all the facilities offered by Tally. The user can also download the latest release of tally
as and when it is available. The Tally website also offers Tally Chat by which a user
can communicate with a Tally representative and get required information.
E-mail facility: Tally facilitates the mailing of any Tally report or document.
Multilingual capability: Tally is the world’s first accounting and inventory software
with multilingual capability. Currently, Tally 9’s multilingual capability extends to 12
languages which include nine Indian languages(Hindi, Gujarat, Punjabi, Tamil, Telugu,
Marathi, Kannada, Malayalam and Bengali), Bahasa Melayu and Bahasa Indonesia.
Ability to preview and publish reports and documents on the Internet: Companies
which want to publish reports and price lists on their website can do so directly from
tally.
, 2. Explain components of Tally screen. (Or) Explain parts of Tally screen.
8 9 2 3
1
7 6 4 5
