ASSIGNMENT ON TALLY

Introduction
Every business has no. of financial transactions, as a human being we could not remember all of them. To overcome this problem we used to record all business transactions in books. As technology is developing we are using computers in every area. Tally is an application package which is used to record and analyze all business transactions in computer. To work with this package we need Windows operating System in our computer. To record transactions in Tally, first we need to create Companies for whose transactions to be entered. Suppose as a consultant if want to maintain number of companies data, we need to create separate companies. 1) To create a company we have to follow the steps giving hereunder: 2) By Double clicking the Tally Icon on desktop, it opens the Tally screen. 3) The gateway of Tally Screen divides into four areas a. Title area : Shows version No. Date, Time etc., b. The main area : List of selected Companies etc., c. Calculator Area : To done mathematical calculations d. Button bar : Displays Commands to be used The names of the companies already created will displays on the main areas left part. In the right part of the main area there is a menu called Company Info. The names of the companies already created will displays on the main areas left part. In the right part of the main area there is a menu called Company Info. Click on Create Company. It will display a dialog box We have to fill the required fields After entering all the information it will display Accept Yes or No? dialog box. Click on Yes Button to save all the information and it will creates the company

4) 5) 6) 7) 8) 9)

The Following are the various details required to create a company

Directory
Companys data will be saved in a directory, for this it is required to give the path of the Data directory. Path is the location of the directory. By default Tally creates its data directory at C:\Tally\data. We can the change the default path by pressing backspace key and enter a new path. Internally Tally Names its directories like 001, 002.

Name
Here we have to give the name of the company for whose books are to be opened. For E.g. XYZ Company Ltd.,

Mailing Name and Address

Here we can enter the mailing address of the company. It can be entered in multiple lines also.

E-mail Address
This is optional; if we want we can enter it.

Local Sales Tax Number

Here we have to enter the Sales tax number allotted to the company by the state Govt.( if available)

Interstate Tax Number

Type the number if available which was allotted by Central Govt

Income tax Number

Type the number allotted by the Central Govt to the company if it available.

Currency Symbol
Type the base currency symbol like Rs. $ etc. In India it will be Rs.

Maintain
We can maintain two types of Accounts

Accounts Only
To maintain Accounts Transactions only

Accounts-cum-Inventory
To maintain the Inventory transaction as well as Accounts transactions

Financial Year from

Type the Financial Year of the country for E.g.: 2005-06

Books beginning from

Tally assumes that this period will be the same as Financial Year; if we want we can change it. Suppose a company book begins from July 2006, then the date will be 01-07-2006.

Tally Vault Password

To avoid unauthorized persons to operate/enter and view our company transactions we can maintain data in encrypted form (Unrecognizable form). By typing the password authorized persons only can view and record/enter the information. As administrator we have give the Password for it

Use Security Control

We can define and maintain security control layers by classifying the Supervisor rights and normal user rights. Type yes to maintain Security control, otherwise Type No.

Basic Currency Info

In this area we have to enter currency formal name, Decimal Points etc., information.