Tally ERP 9 Overview and Setup

Overview

This lecture provides a comprehensive one-shot tutorial on Tally ERP 9, covering installation, company creation, voucher entries, inventory management, GST, payroll, and important Tally features—essential for practical accounting and business management tasks.

Installation & Setup

• Download Tally ERP 9 from the official Tally Solutions website.
• Install the setup, choose directory, and complete installation to begin.
• Tally can be used in three modes: Licensed, Remote User, and Educational (free for learning).

Creating & Managing Companies

• To work in Tally, create a new company with business name, address, and financial year details.
• Use shortcut keys (like Alt+F3) to access company info for creating, altering, or deleting companies.
• Set a Tally Vault password for company data security.
• Backup company data to external drives and restore when needed.

Ledgers & Groups

• Ledgers represent accounts for transactions (e.g., expenses, income, customers).
• Groups categorize ledgers (e.g., Bank Accounts, Current Assets, Creditors, Debtors).
• Create, alter, or delete ledgers via Accounts Info.
• Correct under-groups are essential for accurate financial records.

Voucher Entries (Transactions)

• Voucher types: Purchase (F9), Sales (F8), Payment (F5), Receipt (F6), Contra (F4), Journal (F7), Debit/Credit Note.
• Enter purchases, sales, payments, and receipts in accounting or inventory mode.
• Debit is for the receiver, credit is for the giver; use correct groups.
• Use bill-wise details for outstanding management (new reference, against, advance, on account).

Inventory Management

• Create stock groups (brands), stock categories (types of items), items (models), and units (pcs, nos, kg).
• Maintain multiple warehouses (go-downs) and transfer stock between them.
• Enter inventory vouchers for purchase, sales, and transfer including quantities and rates.
• Discounts can be item-wise (enabled via F11) or on the invoice total (as a negative ledger entry).

Features & Configuration

• Use F11 for Company Features: enable GST, multi-currency, cost centers, payroll.
• Use F12 for Configuration: voucher entry settings, single/double entry mode, and print configurations.
• Printing invoices: configure layouts, include company details, and add a company logo (JPG/BMP format).

GST Accounting

• Enable GST via F11 > F3 (Statutory & Taxation).
• Create GST ledgers: IGST (interstate), CGST, and SGST (intrastate).
• GST rates: commonly 0%, 5%, 12%, 18%, 28%; CGST/SGST split within state, IGST for out-of-state.
• GST collected on sales, paid on purchases, file returns monthly or quarterly.

Payroll Management

• Enable payroll in F11; payroll info appears in the gateway.
• Create units (month, day, hour), attendance/production types (present, absent, overtime).
• Define pay heads: (earnings like basic, HRA, DA; deductions like PF, ESI).
• Assign employees to categories (e.g., HR, Manager), define salary structures, and record monthly attendance.
• Payroll vouchers calculate net salary; generate and print payslips.

Key Terms & Definitions

• Ledger — An account for individual transactions (e.g., cash, sales).
• Group — Category under which ledgers are organized (e.g., Current Assets).
• Voucher — Document for recording a business transaction.
• Inventory — Record of stocked items with quantities, rates, and locations.
• Go-down — A warehouse or storage location within Tally.
• GST (Goods and Services Tax) — Indirect tax on goods and services, at specified rates.
• F11/F12 — Feature and configuration shortcuts in Tally.
• Payroll — Module for salary calculation, attendance, deductions, and payslip generation.
• Cost Center/Category — Used to allocate expenses/income to different departments or persons.

Action Items / Next Steps

• Practice installing Tally ERP 9 and explore the application in Educational Mode.
• Create sample companies, ledgers, and vouchers for hands-on experience.
• Enable and configure GST; enter sample GST-compliant transactions.
• Set up payroll, create sample employees, and process salary slips.
• Review related Tally videos for in-depth topics mentioned (e.g., groups, GST, payroll).