TALLY AUDIT FEATURES

USING TALLY The following are the various features that can be utilised for Tax Audit, Company Audit, Transfer Pricing Audit and VAT Audit Data Entry Before data entry create Company, activate the features, and configure the tally for using your data entry and reporting Activate multi currency option if you have transactions in foreign currencies. The success of using the various features will depend upon the accuracy of data entry made. ever pass consolidated entry li!e depreciation, petty cash payment, ban! payment or receipts The reason being it will give reports which C.A."s mind will not accept #pen $edger account which will give its features and flavour of its character %elect an appropriate group for the account and change the group from time to time on change in debit or credit balance change. Activate re&uired stoc! features to have &uantitative reports 'nter from time to time the Ban! statement in tally to have ban! reconciliation missing entries. VAT TRANSACTIONS %ee that VAT option is activated in your tally and enter your T( and effective date %ee that the accounts are created in purchase, sales, expenses, fixed assets transactions considering VAT set off rules Foreign Exchange Transactions 'nter the (mport bills in foreign exchange 'nter the 'xport Bills in foreign exchange 'nter the )eceipts in foreign exchange

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TALLY AUDIT FEATURES

'nter the payments in foreign exchange Stock Va !ation Tally has got in built stoc! valuation features *ou can value stoc! by any method regularly followed and accurate entries are made for purchase and sales transactions #therwise you can dis+integrate the stoc! and value as per your own wor!ing too. Interest Ca c! ation Activate in features and Activation while creating a ledger account or latter on as per your re&uirement. Provide the rate of interest ,ode of calculation i.e. month or -./ days and advance features are available Foreign Exchange Di""erence 0hen there are two currencies active the Balance sheet will show unad1usted foreign gain or loss for which entries are to be made periodically if not made at the time of settlement of transaction. Amount in asset side shows loss and gain on liability side Re#orting in Ta y Apart from %tatement of affairs and Profit and loss2 (ncome and 'xpenditure account, Boo!s of Accounts, (nventory registers, stoc! statement the following additional reports can be generated %tatements in )upees and 3oreign Currency

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TALLY AUDIT FEATURES

$!antitati%e state&ents "or 'CD %toc! valuation by using earlier years method and current years method of stoc! valuation Payment above )s.45,5552+ Payment2Bills above )s./,5552+, 45,5552+ or consolidated )s./5,5552+ for T6% purposes ,aximum balance outstanding during the year for loans etc. 6elayed payment of T6%, P3, '%(C, Profession Tax etc. 75A8498b9 reports egative Cash balance Checking interest #ay&ents an( recei#ts )eports under TP Audit %ales to Associated 'nterprises Purchase from Associated 'nterprises :ross Profit ratio of transactions with A' and others Co&#any A!(its Transaction above certain limit with parties listed in register u2s -5; of the Companies Act, ;</. Provident 3und and '%(C payment verification 3ixed Assets )egister (nventory records in otes to Accounts 6ebts more than six months %egment reporting )egion Product 'tc. 6uplicate payments and 6uplicate Bills $edger %crutiny Audit papers and audit trail

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)IS Re#orting #ver due payments =ighest and lowest Cash balance and Ban! balance for utilisation of fund %toc! reports 'xport of data in >$ and #6BC 3or further analysis and reporting There are certain pac!age data of which is compatible with tally data base and can be imported in tally i.e. sales affected at certain counters can be merged in tally. And there are various agencies, they give additional features and pac!ages compatible with tally so tally can be used as ')P pac!age.

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TALLY AUDIT FEATURES

Tax A!(it Re#ort in For& No* 'CD ;. ,ethod of %toc! Valuation and effect of change in the valuation a9 To use this feature, we need to activate first (ntegrate Accounts and (nventory option to *es in 3eatures 8press 3; ;9 b9 ow go to Balance %heet. *ou will see #ption in the right hand side panel 3?@ Valuation. Press 3? and select the method you desire c9 To add a new column with another method of valuation, select ew Column or press Alt A C and ma!e the selection of another column. d9 This will help you to disclose the effect of change in the method of valuation of stoc! 4. 3inding out any expenses paid by way of penalty. fine. club or advertisement expenses a9 :o to Profit B $oss A2c. b9 %elect option 3;4 @ Value by pressing Ctr + F,c9 %elect voucher having Penalty d9 This will give you the information about any expenses paid by way of penalty or fine under any head of expenses. e9 Please ma!e it sure by selecting appropriate vouchers that it is really expenses in the nature of penalty or fine arration Containing 3ine or voucher having narration Containing

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TALLY AUDIT FEATURES

f9 The above procedure may be used for getting advertisement expenditure -. 'xpenditure in cash above )s.45,555 in cash a9 :o to ledger of cash A2c. 8either selecting by pressing 'nter Cey from Balance %heet, Current Assets, Cash+in+=and and Cash A2c. or 6isplay + Account Boo!s + Cash or Ban! Boo! D6AC; and %elect Cash A2c. b9 :o list of payment Vouchers 6isplay + %tatements of Accounts + %tatistics 86%%(, %elect Type of Vouchers + Payment c9 'nter any month and Press Alt A 34 for selecting period from 5;257 to -;25Press A t + F,- @ )ange + Voucher having $edger Amount greater than 45555 This will give the list of all the payments above )s.45,555 But if the payment of )s.45,555 has been split into vouchers below vouchers where we have )s.45,555 and recorded on the same day, the same will not get reflected in the above list. %imilarly, it may give list of made payment for issue of 6emand 6raft. This may be re&uires case to case basis different approach. 7. Particulars of $oans and 6eposits above )s.45,555 a9 *ou have activate 3eature (nterest Calculations by pressing 3;; 3eatures and activate interest calculation to yes b9 3or the individual ledger accounts, you have to select the option of (nterest Calculation c9 :o to Balance %heet + $oans $iabilities d9 %elect 3;@ 6etailed e9 %elect 3;4 @ Configure and set options #pening Balance, Transaction to *es f9 %elect (ndividual $edger Account

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TALLY AUDIT FEATURES

g9 Press 3E @ #ther )eport and %elect (nterest Calculation h9 %elect option Contact by pressing Alt A C. This will give details of the party li!e address as well as PA i9 %imilarly we can also chec! interest calculations. To give interest calculation parameters press CtrI + Enter on the individual ledger account and activate interest calculation parameter to yes and give the re&uired details. 19 To find out maximum balance outstanding during the year, press 'nter on (ndividual $edger Account, then press 3;4 @ Configure and %et option =igh2$ow 6etails to *es /. 6etails of T6% and Provident 3und Contributions. a9 3irst Activate F, @ 3eatures and set following options to *es ,aintain Billwise 6etails *es 8for non trading A2c. Also9 *es Activate (nterest Calculation *es 8use advance parameters9 *es b9 (n the ledger account of T6% A2c. or P3F A2c. 8 Accounts (nfo. + Ledger + Alter9 8ALA9 and select the ledger account. %et the following parameters to *es + ,aintain bill+by+bill *es Activate interest calculation *es c9 (n interest parameters specify@ Calculate (nterest Transaction by Transaction to *es )ate @ ; G per -./ days ye on credit balances only Applicability Always Calculate from 6ue 6ate of (nvoice )ounding ot Applicable d9 0hile entering the transaction give the details and references with correct due dates

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TALLY AUDIT FEATURES

c9 To get the details of delayed payments and also interest payable :o to relevant ledger account Display + Account Boo!s + Ledger .DAL/ and type name of the ledger account and press 'nter Press F- Period and type 5;257 To -;25Press F0 #ther )eport + %elect (nterest Calculations This will now show interest at specified rates where the payment has been delayed. To get further details, press F,@ 6etailed and it will give all details, date of credit, due date, date of payment and delay in no. of days .. Huantitative 6etails To get these details, first &uantitative details of stoc! should be maintained by activating various features. a9 Press F'1 Cmp (nfo b9 %elect Alter c9 %elect the name of the company to alter d9 :o to option no. ;5 + ,aintain and %elect Accounts with (nvento e9 :o to option of Inventory (nfo and create various stoc! groups, stoc! items and units of measurement f9 To get &uantitative information, go to Stoc! %ummary g9 To get itemiIed details of all items, press F, @ 6etailed h9 To get other details, li!e opening balance, inwards and outwards, press F,-1 Configure and select following options to yes %how #pening Balance *es %how :oods (nwards *es %how :oods outwards *es ?. )atios + There are various ratios as per predefined formulas calculated by the Tally. %elect Ratio Analysis and you will get various ratios calculated with details of formulas used.

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TALLY AUDIT FEATURES

E. Transactions with related parties Re#ort !n(er Co&#anies Act Acco!nting Stan(ar( as 2e as CARO ;.$oans from interested parties )efer item o. 7 above. 4 )elated party transactions -.Timely payment of Provident 3und 6ues )efer item o. / above. 7. ,aintenance of 3ixed Assets )egister and calculation of 6epreciation a9 3irst Activate F, @ 3eatures and set following options to *es ,aintain Billwise 6etails *es 8for non trading A2c. Also9 *es Activate (nterest Calculation *es 8use advance parameters9 *es b9 (n the ledger account of 3ixed Assets 8 Accounts (nfo. + Ledger + Alter98ALA9 and select the ledger account. %et the following parameters to *es + ,aintain bill+byJbill *es Activate interest calculation *es c9 (n interest parameters specify@ Calculate (nterest Transaction by Transaction to *es )ate @ +45 G per -./ days year on 6ebit balances only Applicability Always Calculate from 6ate of (nvoice )ounding ot Applicable d9 0hile entering the transaction give the details and references e9 0hile providing depreciation, give credit to the respective assets references To get the details of 3ixed Assets and also depreciation provided over the years

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TALLY AUDIT FEATURES

:o to relevant ledger account Display + Account Boo!s + Ledger 8DAL9 and type name of the ledger account and press 'nter Press F- @ Period and type 5;257 To -;25Press F0 @ #ther )eport + %elect Billwise 6etails To get further details, press F,@ 6etailed and it will give all details, date of purchase, depreciation provided every year Press F0 @ #ther )eport + %elect (nterest Calculations This will now show amount of depreciation to be charged under written down value method To get further details, press F,@ 6etailed and it will give all details, date of purchase, rate of depreciation and use in no. of days /. ,aintenance of (nventory )ecords )efer item o. . above .. Audit features B Trail useful for internal control 2 security 3irst we need to activate the feature in the company master Press A t + F'@ Comp (nfo %elect Alter %elect the name of the company to alter %et the last option + Kse %ecurity Control to *es Then its as!s for user name and password Kse Tally Audit 3eatures @ *es Then %ave the changes by pressing Ctr + A Press 'sc Then you have another option %Ecurity Control =ere you can create different types of securities by which you can restrict tile access to various options as per re&uirements To tic! mar! the vouchers and ledger which have been chec!ed and find out which are still to be vouched and chec!,

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TALLY AUDIT FEATURES

:o to Display + Statements of Accounts + Tally Audit 8DST9 This has to options for view, Vouchers and $edgers, Press appropriate option and it will give list of unchec!ed items. As you chec! the ledger or voucher, you can tic! mar! it by pressing F3@ Accept #ne. By pressing F,- @ Configure, it will give further details of person entering and altering the vouchers details ?. E. Cost Centers useful for segment reporting :roup Company useful for consolidation To create :roup Company, we need to first open two companies Then press A t + F'@ Comp (nfo The option of Create Group Company will get highlighted ow you can create group company by giving all the details. 0hen the group company is opened, it also opens the members of the group company Feat!res !se"! in A!(iting ;. 6ebit balance in the 6irectors Account which will be considered as deemed dividend a. b. #pen the directors ledger account To find out whether he has debit balance any time during the year Press F,- @ Configure and %et option =igh2$ow 6etails to *es c9 (f there is any debit balance, it will be shown in the details at the bottom 4. :ross profit feature +

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TALLY AUDIT FEATURES

This feature gives amount of gross profit earned from the transaction or series of transaction. A9 :o to Stoc! %ummary and press F3@ %how Profit This will show the profit earned each stoc! groupwise. To get further details stoc! itemwise, press 3;@ 6etailed B9 To get the details of profit earned each sale voucher wise :o to %ales )egister + Display + Accounts Boo!s + Sales )egister 86A%9 'nter on any month and press F3@ %how Profit This will give the profit each sale bill wise. The above gross profit is disclosed on the basis of method of valuation of stoc! as default. To !now the profit as per all other different methods of valuation available in Tally Accounting Pac!age press, A t + N for activating Auto Column (t will give various options. #ut of which, one of the options is %toc! Valuation ,ethods. #n selecting this option, it will provide details under various stoc! valuation methods. To get the details only by one or some of the methods of your choice, press A t + C for activating ew Column. -. Agewise analysis of stoc! + useful to comment on write off :o to Display + Inventory Boo!s +Ageing Analysis 8DIA9 To change the ageing periods, press F4 @ Ageing Period which allows you to specify the different ageing periods. 7. Consolidated 6ebtors $ist of two or more

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3irst, we will have to !eep more than one companies simultaneously. Then, go to 6ebtors $ist from the Balance %heet + Current Assets + 6ebtors To simultaneously view the details of debtors of another company, A t + C for activating ew Column. %elect the another company for which, you want to see the details of 6ebtors /. (nternal ,(% reports useful for audit purpose

There are various predefined ,(% reports called as '>ception )eports. To view those reports, press Display + '5ception )eports 8D59. .. (nterest calculation + This function we have used to get the details of delay in various payments

as well as for maintaining fixed asset register. The same is also useful for finding out or chec!ing the amount of interest charged or paid on various loans. The same is available in various reports by pressing F0 1 #ther )eport. ?. )eport of different items + turnover with particular debtors B creditors Display + Inventory Boo!s + )ovement Analysis + Ledger Analysis .DI)L/ This will generate the report specifying the details of sales or purchase to a particular party item wise giving details of &uantity, rate and amount E. )eport of :roups2$edgers + payment performance

This report helps in identifying the payment performance of particular ledger or group. (n any particular ledger account of group display, press F0@ #ther )eport and this option is available. <. %toc! %ummery B ,ovement Analysis

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This option is available for ma!ing comparison of prices of purchase and sale partywise alongwith total &uantity. This feature enables to compare the rates as well as identifying ma1or suppliers or customers for particular item of stoc!. This feature will also be useful on commenting whether the transactions with related parties are at reasonable rates.

AUDIT AREA1 6 INVENTORY O78ECTIVE1 6 Risks To eliminate the ris! of (nventory records may not be complete To eliminate the ris! of (nventory transactions may be processed in the wrong period To eliminate the ris! of (nventory items may not exist To eliminate the ris! of (nventory carrying values may not be realiIable

Using Ta y* ,* Location 2ise ist can 9e o9taine( "or #hysica %eri"ication o" in%entories* - Activate integrate accounts B inventory by press F,,. - Activate maintain multiple location by typing yes under inventory features. - Create Various $ocations. In%entory In"o6Location6Create* - 0hile entering purchase bills we can enter the locations. - 0e can also give various bin numbers to the locations under a ias. - (nventors lying at our location, which belongs to other company, can be clearly identified by this feature. By using this feature physical count of inventories is very much possible.

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TALLY AUDIT FEATURES

The above+mentioned feature can be used for the locating wrong entry and frauds. 'g@+ 0hile creating location we can mention capacity in brac!et with the name of location. Then we can chec! the actual storage of goods in locations for that particular location record. (f the &ty stored is more then the capacity then there may be a recording problem or there is some thing serious matter to loo! in. -* Deter&ination o" s o2 &o%ing ite&s* ;. 0e can do age wise analysis of inventory items. Dis# ay6In%entory 7ooks6Age Ana ysis* 4. Press F4 to change aging periods* -. By using above functions we can determine movements of inventory items. '*:ro#er Acco!nting o" Trans"er;Iss!e o" &ateria "ro& one ocation to another ocation* Gate2ay o" Ta y < In%entory Vo!chers6 Stock 8o!rna .F 3/* By using this options all material re&uisitions of the production department can be accounted for. All goods transferred from one location to another can be also traced out properly. =* Entering #hysica y %eri"ie( stock an( ascertaining shortages an( excess1 Gate2ay o" Ta y < In%entory Vo!chers6 :hysica Stock Veri"ication* .F ,>/* By using this option, we can enter physical stoc! verified in the boo!s. After going to each of the stoc! items individually, we are able to view the excess on physical verification 8shown as inwards without value9 and shortage 8shown as outwards without value9. ?* Fixing o" Reor(er e%e an( &ini&!& e%e "or #!rchase o" in%entories* There may be some material, which may carry huge inventory cost. (f proper planning not done by maintaining the stoc! level this may amount huge bloc!age of funds for such items. Gate2ay o" Ta y < In%entory In"o6 Reor(er Le%e *

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4* Vario!s (etai s regar(ing stock ite&s Gate2ay o" Ta y < Dis# ay < State&ent o" In%entory < Stock $!ery This gives various details as item name, group, part no., category, closing stoc! 8&uantity, cost, value, standard selling price, location wise stoc!9, last purchase 8date, party, &uantity and cost9 as well as last sale 8date, party, &uantity and price9 3* )o%e&ent ana ysis < Gate2ay o" Ta y < Dis# ay < In%entory 7ooks < )o%e&ent Ana ysis This gives information about purchase and sale of stoc! items partywise giving details of &uantity and cost2price. This feature is very much useful for analyIing pattern of purchases and sales.

0* Gross :ro"it Feat!re Gate2ay o" Ta y < Stock S!&&ary < F3 Sho2 :ro"it This will show profit groupwise. To get details further details groupwise and itemwise press Alt A 3;. This feature gives information based on costing method and valuation method employed. 0ith help of this information, it is easier to identify profit itemwise and loo! into the details wherever re&uired. *ou can have further details of profit for various different time intervals as per choice given or your own choice by either pressing Auto Column or ew Column or right hand panel. @* :rocessing o" Sa es A :!rchase or(er* - 0e have facility of entering %ales #rder B purchase order with respective due dates. - Pending %ales #rder L Gate2ay o" Ta y < Dis# ay6State&ent o" In%entory < Sa es Or(er S!&&ary6:ress F 3* =ere we can get os. of sale order received and sales order pending for execution.

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- Pending Purchase+ Gate2ay o" Ta y < Dis# ay6State&ent o" In%entory < :!rchase Or(er S!&&ary6:ress F 3* =ere we can get os. of purcahse order received and purchase order pending for execution.

AUDIT AREA1 6 SUNDRY RECEIVA7LES;:AY7LES O78ECTIVE1 6 Risks The accounts receivable listing or individual balances may be inaccurate Accounts receivable balances may not exist Accounts receivable may not be collectible Bad debts write+offs may not be valid %ales transactions may be processed in the wrong period Using Ta y* ,*Fixing cre(it i&it to res#ecti%e c!sto&ers;s!## ier* Cre(it Li&it 6 A&o!nt* #nce if we fix credit limit to a customer then after crossing credit limit tally does not allows entering any sales in that $edger a2c. Gate2ay o" Ta y < Acco!nts In"o < Le(gers6Cre(it i&its6 S!n(ry De9tors; S!n(ry Cre(itors6 Enter A&o!nts in cre(it i&it co !&n*

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Cre(it Li&it < :erio(* ;. To activate credit limit period for a particular supplier or customers account. 0e have to activate )aintain 7i Bise Detai s option. Press F,,6 under accounting feature type Yes to )aintain 7i Bise Detai s* 4. Then while creating new ledger account of supplier or customer we have to activate )aintain 9a ances 9i 9y 9i and then activate De"a! t Cre(it :erio( 9y s#eci"ying No* o" (ays* This option will maintain bill wise due date for specified supplier or customer. #nce if we fix credit limit to a customer then after crossing credit limit tally does not allows entering any sales in that $edger a2c. Gate2ay o" Ta y < Acco!nts In"o < Le(gers6Cre(it i&its6 S!n(ry De9tors; S!n(ry Cre(itors6 Enter A&o!nts in cre(it i&it co !&n* -* Vie2 o" ist o" o%er (!e 9i s* $ist of over due bills can be obtained by using #ver 6ue )eceivables B Payable Gate2ay o" Ta y < Dis# ay < Exce#tion Re#ort6O%er D!e Recei%a9 es; :aya9 es* This option can be better used for ledger scrutiny and payment performance of a customer. '*Age 2ise ana ysis o" as sing e e(ger acco!nt* (f you are not already in the receivables screen@ Gate2ay o" Ta y 6C Dis# ay 6C State&ents o" Acco!nts 6C O!tstan(ing6CLe(ger %elect the e(ger acco!nt* %elect 8clic!9 Age6Bise* %elect one of the two ,ethods of Ageing@ 7y 7i Date or 7y D!e Date %et the age periods re&uired for the report. An earlier setting is given and can be accepted as it is or modified.

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The aged bills report is produced accordingly. *ou can drill down to &uery the individual invoices.

=*O%er a %eri"ication o" recor(ing o" sa es 9i in case 2here the sa es 9i Nos* are entere( &an!a y in ta y 4*'* Ste# ,* :o to %ales )egister+ Gate2ay o" Ta y <Dis# ay6Acco!nt 7ook6 Sa es Register* Ste# -* %elect the period for which we want to chec! the recording. Ste# '* :ress F? to covert the sales register into columnar format. Activate only Sho2 Vo!cher N!&9er option by pressing YES* And for all other option it should be NO so that we can get the re&uired data. Knder type of column option %elect L En( o" the List option. At this stage we can get the sales register in columnar format so that we get only re&uired data. Ste# =* Ex#ort the co !&nar sa es register in exce ,*Clic!+Ex#ort+ Press Y6 this exported file will either go to your tally data folder or it may be on your des!top. #pen this file in excel. 4.0hen you open this file in excel there appears a text import wiIard + clic! on (e i&ite( L clic! on Next 6 on next screen clic! on L ta9D se&ico on A co&&a o#tion clic! on Next and the Finish* After this steps we find our columnar sales register exported in excel. -. %ave this file into .xls format. 7.#n screen we find / columns i.e i. ii. iii. iv. 6ate of sale bill. ame of Customer. %ale bill o. %ales bill Amount.

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A9 Between column C B 6 we have insert two columns. B9 ow we find column 6 B ' blan!.

C9 (nsert umber of the bills serially in column o. 6 69 )educe value of column C form value of column 6. '9 (f we find the value in column ' M5" the is seems that there is not no problem in the bills entered. 39 (f any value found in column ' either negative of positive then we have to investigate in to the matter.

?* In%estigating a9nor&a entries in S!n(ry De9tors Acco!nts;S!n(ry Cre(itors Acco!nt* '.g. Payment made to %undry debtors and payments received from sundry creditors. Gate2ay o" Ta y6State&ent o" Acco!nts < Statistics6 :ay&ents6 Se ect :erio(6 :ress F,-6In Range o" in"or&ation <Vo!chers ha%ing6 Le(gers6 2ith Gro!# Na&e6 2ith Na&e < Containing6 S!n(ry De9tor; S!n(ry Cre(itors* 0e can get all lists of entries where sundry debtors have been made payments. Then we can restrict our en&uiry to that level only.

4* Le(ger :er"or&ance <

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Gate2ay o" Ta y < Dis# ay < Acco!nt 7ooks < Le(ger an( se ect in(i%i(!a e(ger acco!nt* Then #ress F3 "or )onth y 7reak!#* :ress F0 an( se ect Le(ger Ana ysis This will give the information about items purchased and sold to the party alongwith &uantity, rate and value. The same report can be generated for periodic interval as per choice available or as per re&uirement as mentioned in the above feature. AUDIT AREA1 6 CASE A 7ANF

;.Veri"ication o" negati%eD highest A o2est cash 9a ance* Gate2ay o" Ta y6Dis# ay6Acco!nt 7ook6 Le(ger6Cash6:ress F4 8for daily brea!up9+ :ress F,-+ to Sho2 high; o2 9a ances L 'nter Yes in option. By functioning above options we can verify the highestD o2est and a%erage cash 9a ance. 0hich may help the management to chec! the 9 ockage an( shortage of fund at various locations. 4.Veri"ication o" negati%e e(gers an( stock Gate2ay o" Ta y6Dis# ay6Exce#tion Re#orts6Negati%e Stock.Le(gers/ For %ie2ing on (ai y;2eek y;&onth y;G!arter y 9asis <C ick on A!to Co !&n an( se ect the a##ro#riate o#tion -.Veri"ication ; Co&#arison o" Cash F o2* Gate2ay o" Ta y6Dis# ay6Cash F o26 c ick < Ne2 Co !&n O#tion6 Enter the #erio( "or co&#arison*

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By functioning the above option we can compare the cash flows and get the information about the changes in are of cash receipts and cash payments.

T=A C *#K CA VA 6A A 6#6=(A Contact o. #ffice 544+ 4E<E/<<4, mobile @ <E4554<4E; 'mail @ VanduNcaOyahoo.co.in CA Camlesh $. 6oshi, Contact o. #ffice 544 + ./5E?7E5 'mail L l!doshiOgmail.com

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TALLY AUDIT FEATURES

USING TALLY DATA FOR FURTEER ANALYSIS The data and various reports generated by Tally can be exported to 'xcel 0or!sheet for further analysis. There are two different methods of exporting data L ;9 'xport of data 49 Connecting through #6BC 8#pen 6ata Base Connectivity9 ,/ Ex#ort o" (ata 6 (n all the reports generated by Tally, on right hand corner panel, you will find an option to export the report. #n pressing that option, it will as! whether to export or not. (f any displayed parameters are to be changed, then so no and change the displayed parameters. %o saying no, it goes to option #utput 3ile ame, press Bac!space twice to go to option of different formats L a9 A%C(( 8Comma 6elimited9 b9 =T,$ 80eb+Publishing9 c9 %63 83ixed 0idth9 d9 >,$ 86ata (nterchange9 Knder A%C(( 8Comma 6elimited9 format, the data is exported without column headings. The data is separated by comma. The =T,$ format can be used for putting information on the internet. %imilarly, the file exported in this format has all the headings, sub+headings, etc. The said generated report can be opened in excel also and can be modified. The data exported by %63 format is li!e the '+T6% returns generated, each column have fixed width, thus increasing the siIe of the file. >,$ format is used for transferring data in another pac!age or program accepting such data. -/ Connecting thro!gh OD7C

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The exported data as mentioned above has a limitation that on modification of data made in the Tally does not ma!e corresponding change automatically in 'xcel %heet. 0hereas, the data exported through #6BC, gets automatically updated in 'xcel %heet. Eo2 to !se OD7C (n tally, select a company. Then press Ctrl A to activate #6BC %erver. #n activation, it can be observed that the bottom screen of tally gets highlighted. ow, go to excel wor!sheet. :o to 6ata L :et 'xternal 6ata L ew 6atabase Huery L Choose Tally #6BC 6atabase. ow it will give option to select the columns available in different tables for which data is re&uired. $i!e for getting Trial Balance, we re&uire from $edger Table following items, Closing Balance, ame and Parent. After selection of columns, it will lead to further options, ma!e the selection and finally it will return the data to 'xcel 0or!sheet. Thereafter, we can ma!e analysis of data. The said data gets automatically updated with the option )efresh 6ata in the 6ata Toolbar. Than!s, )T

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