1. Introduction to Tally Prime
Tally Prime is a modern business management software used for accounting, inventory
management, payroll, taxation (including GST), and more. It is the upgraded version of
Tally.ERP 9 with a new interface and user-friendly features.
Features:
Simpler navigation
Multi-tasking ability
Easy company creation and management
GST compliance
Reporting dashboard
🔹 2. Company Creation and Management
Creating a company is the first step in using Tally Prime.
Steps:
Gateway of Tally → Create Company
Fill in details like Company Name, Financial Year Start, Currency, GST Details (if
applicable)
Important Terms:
Books Beginning From: The actual date when accounting entries start.
Financial Year From: The fiscal year (usually April 1st to March 31st in India).
🔹 3. Ledger and Group Creation
Ledgers are accounts like Cash, Bank, Sales, Purchase, etc.
Common Ledgers:
Capital Account
Cash/Bank Account
Sales Account
Purchase Account
Expenses/Income Accounts
Groups:
Tally categorizes accounts into groups such as:
Primary (Assets, Liabilities, Income, Expenses)
Subgroups (Current Assets, Direct Expenses, etc.)
🔹 4. Voucher Entry and Transactions
Vouchers are documents used to record transactions in Tally.
Main Types:
1. Payment Voucher (F5) – Records all types of payments.
2. Receipt Voucher (F6) – Used for incoming payments.
3. Contra Voucher (F4) – For cash-to-bank and vice versa.
Tally Prime is a modern business management software used for accounting, inventory
management, payroll, taxation (including GST), and more. It is the upgraded version of
Tally.ERP 9 with a new interface and user-friendly features.
Features:
Simpler navigation
Multi-tasking ability
Easy company creation and management
GST compliance
Reporting dashboard
🔹 2. Company Creation and Management
Creating a company is the first step in using Tally Prime.
Steps:
Gateway of Tally → Create Company
Fill in details like Company Name, Financial Year Start, Currency, GST Details (if
applicable)
Important Terms:
Books Beginning From: The actual date when accounting entries start.
Financial Year From: The fiscal year (usually April 1st to March 31st in India).
🔹 3. Ledger and Group Creation
Ledgers are accounts like Cash, Bank, Sales, Purchase, etc.
Common Ledgers:
Capital Account
Cash/Bank Account
Sales Account
Purchase Account
Expenses/Income Accounts
Groups:
Tally categorizes accounts into groups such as:
Primary (Assets, Liabilities, Income, Expenses)
Subgroups (Current Assets, Direct Expenses, etc.)
🔹 4. Voucher Entry and Transactions
Vouchers are documents used to record transactions in Tally.
Main Types:
1. Payment Voucher (F5) – Records all types of payments.
2. Receipt Voucher (F6) – Used for incoming payments.
3. Contra Voucher (F4) – For cash-to-bank and vice versa.
