Tally Payroll is integrated with Accounting to give the user the benefits of simplified Payroll processing and accounting. Tally Payroll enables users to set up and implement salary structures, ranging from simple to complex, as per the organization’s requirements. Yes can also align and automate payroll processes and directly integrate them with main stream accounting […]
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TEX DEDUCTED AT SOURCE (TDS) Tax Deducted at Source (TDS) is one of the modes of collecting income tax. The buyer (Deductor) deducts the tax from the payment made to the seller (Deductee) and remits the tax to the Income Tax Department within the stipulated time. The buyers (Corporate and Non-Corporate) make payment (such as […]
Tally’s Display of information is designed to allow a user get the maximum benefit of the data that is entered. A user gets a holistic picture of the data and is also able to present information using different options. The purpose of compiling data is present it in comprehensible accounting reports. On entering the vouchers, […]
A Voucher is a document that contains details of a financial transaction. For every transaction, you can use appropriate Tally Voucher to enter the details into the ledgers and update the financial position of the company. Mainly there are two types of Voucher Entry: Accounting Vouchers Inventory Vouchers You can set the configuration for entry […]
The Inventory Info menu lists the masters, through which you can provide Tally the details of your company’s inventory. Go to Gateway of Tally > Inventory Info. Note: The Inventory Info menu is displayed in Gateway of Tally, only select Maintain Accounts with Inventory forma the Type of Company list in the Company Creation screen. […]
Many Organizations have transactions in more than one currency. Such transactions have to be recorded either in the base (home) currency or in the foreign currency. If the transactions are recorded in home currency, the rate at which the foreign currency is exchanged should be recorded as well. At times you need to record the […]
A voucher is the primary online document for recording transactions. Transactions recording and analysis are greatly facilitated by having specific formats for different types of transactions. Tally provides 16 different predefined voucher formats or what it calls predefined types of vouchers. These are used for recording various transactions. A payment voucher is used for all […]
A budget is a plan prepared for the flow of funds in an organization. It contains financial guidelines for the future plan of action for a selected period of time. A budget helps to refine goals and use funds efficiently. It provides accurate information for evaluation of financial activities, aids in decision making and provides […]
A Cost Centre is any unit of an organization to which transactions (generally, revenue) can be allocated. When only costs or expenses are allocated to these units, they are referred to as Cost Centres. When profits are also allocated to these units, they become Profit Centres. You can now obtain a Profit and Loss account […]
Accounts Info menu lists the masters through which you can provide Tally the details of your company’s accounts. You can also manage Groups, Ledger and Vouchers from this menu. Go to Gateway of Tally > Accounts Info. INTRODUCTION TO GROUPS Tally follows the modern way of managing accounts called ‘Single Ledger’ concept of accounting. This […]