Tally - ERP 9 at A Glance - Book6 PDF

Why is Tally the best?
3.7 User defined Vouchers

Tally.ERP 9 provides 18 predefined vouchers and also allows you to create new Accounting as
well as Inventory vouchers types, as per your requirements. For example, you can further classify
payment vouchers by creating vouchers by the name Bank Payment and Cash Payment
Vouchers. You can also set the voucher numbering as per your needs, which can be either
automatic numbering or manual numbering or have no numbering at all. Further, you can also
assign Prefix and Suffix for voucher numbers and choose to restart numbering either from
beginning of the year or month and so on.
To create a new Voucher Type,

Go to Gateway of Tally > Accounts Info. > Voucher Types > Create
Enter the voucher name, type, specify the method of numbering, activate or deactivate the
other functions as per needs.
3.8 Sales and Purchase extracts

In Tally.ERP 9, you can generate extract of the report on Sales and Purchase Registers. The
extract report provides you consolidated figures for both debit and credit balances for all groups
and ledgers. With this report you get the complete Sales / Purchase Turnover figures for any
period.
To generate Extract of Purchase Register,

Go to Gateway of Tally > Display > Accounts Books > Purchase Register
Select any month
Click F6: Extract
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Figure 3.5 Purchase Extract Report
To generate day-wise extract of Purchase, in F12: Configure of the

Purchase Register screen, set Periodicity to use to Daily.
3.9 Cash Flows

Tally.ERP 9 provides you with a cash flow statement to track the movement of cash flow i.e. cash
inflows as well as cash outflows (both cash & bank included) of your business. The report also
displays a net flow for any period.
To View Cash Flow Summary,
Go to Gateway of Tally > Display > Cash/Funds Flow > Cash Flow
Select a month
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Figure 3.6 Cash Flow Summary
To generate Daily Cash Flow Statement, press F4.

To view informaton on the average cash inflow/out flow for any period,
in F12: Configure, activate average details.
3.10 Daily Balance & Transaction Values

You can view cash/ bank books and ledgers on a day-wise basis to get information on the total
transaction value and closing balances. You can also view daily average details as well as high
and low details for the month in the same report.
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To View Daily Break Up of Cash/Bank Books or Ledger,
Go to Gateway of Tally > Display > Accounts Books > Cash/Bank Books or Ledger
Select the ledger account (Bank/Cash or any other ledger)
From the Ledger Monthly Summary report, select a particular month and press Enter
In the Ledger Vouchers screen
Click F6: Dly Brk-up
Click F12: Configure, set Show Average Details and Show High/Low Details to Yes
Figure 3.7 Daily Breakup of Ledger
Tally.ERP 9 displays a screen showing the Average as well as High and Low details for the
selected ledger. From the above report, you can also drill down to voucher level for any kind of
verification/alteration.
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3.11 Interest Calculations

Tally.ERP 9 provides a powerful capability to calculate interest on outstanding balance amounts
and oustanding bills/invoices/ transactions (Receivables and payables) or on any delayed
payments so on.
You can view the impact of interest accumulated against each ledger and also against each trans-
action. Although, Tally.ERP 9 provides exhaustive information on interest implications, the interest
amounts are not brought into books. You may choose to book the interest calculated as per your
requirements. Interest is calculated either on simple or compound basis and accounted into the
books, by using debit notes for interest receivables and credit notes for interest payable.
The Activate Interest Calculation field is displayed in the Ledger Creation screen only, if
Activate Interest Calculations is set to Yes in F11: Accounting Features. Set this field to Yes
for each specific ledger account for which interest is to be calculated.
Step 1: Enable Interest Calculation

In F11: Accounting Features, set parameter Activate Interest Calculation (use
advanced parameters) to Yes
Step 2: Enable Ledger for Interest Calculation

Go to Gateway of Tally > Accounts Info->Ledger-> Alter.
Select a ledger for which interest calculation has to be activated.
Set Activate Interest Calculation to Yes (Set this field to Yes for each specific ledger
account for which interest is to be calculated.
Specify information regarding Rate of interest (%) and Style as per requirements
Figure 3.8 Interest Calculation Parameters
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Tally.ERP 9 automatically calculates interest for ledgers for which interest calculations option is
activated.
To view Interest Calculation Report,

Go to Gateway of Tally > Display > Statements of Accounts > Interest Calculations >
Receivables / Payables/Ledger
To specify or change the rate of interest at the time of entering the transac-
tion, set Override Parameters for each Transaction to Yes in the Ledger
creation mode.
3.12 Percentage Based Reporting

In Tally.ERP 9, you can generate percentage based reporting for financial statements like Balance
Sheet, Profit & Loss, Cash Flow, Sales register etc. For example, to view percentages for all
groups in the Balance Sheet, set Show Percentages to Yes in F12:Configure.
50
Figure 3.9 Balance Sheet with Percentages
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Lesson 4: Why Tally is best for basic Inventory
Management ?
Tally.ERP 9 provides you the capability to record inventory transactions without changing the way
you do your business. It provides numerous predefined Inventory vouchers to suit your business
requirements and flexibility to create unlimited stock items, use simple to complex conversion
units and generate invoices with the required information and dimensions.
Following are the some of salient features, which makes Tally.ERP 9 best for basic inventory man-
agement.
Flexible units of Measure
Flexible Invoicing
Unlimited Grouping & Categorization of Stock items
Voucher Classes to expedite voucher Entry
Separate Actual and Billed Quantities
Gross Profits and Consumption Report
Use Stock Item Names and / or Part Numbers
POS Invoicing
4.1 Flexible units of Measure

The instances of stock items being measured in different Units of Measure are common. In
Tally.ERP 9 you can define multiple units as per your requirements. It is also possible that an item
could be transacted in one or more units of measure, for e.g. Sugar is purchased in tons and sold
in either kgs or packets. Tally.ERP 9 allows you to transact in all the three units of measure for the
same item. This configuration allows you to maintain stock items in both Main Units as well as
Alternate Units.
Tally.ERP 9 allows creation of compound as well as alternate units for a stock item. You can
define a Compound unit as a relation between of two simple Units, for e.g. create a compound
unit namely, Ton of 100 kgs. You can view Stock Summary report in Tail Units also (here in this
case, kgs)
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To create Units of Measure,

Go to Gateway of Tally > Inventory Info. > Units of Measure > Create
Select Unit Type
Specify Unit name
To activate and create Alternate Units,

Go to Gateway of Tally > Inventory Info. > Inventory Info > Stock Item > Create
Press F12: Configure (Inventory Info.) and activate Use ALTERNATE UNITS for Stock
Items
Enter Alternate Units
To create Compound Units, create two simple units of measure (as mentioned earlier) and then
Go to Gateway of Tally > Inventory Info. > Units of Measure->Create.
Select Unit Type as Compound
Select First Unit and enter Conversion units
Select the Second Unit
To view Reports in Alternative Units,

Go to Gateway of Tally > Stock Summary
Press F12: Configure, set Show Opening balance, Goods Inwards, Goods Outwards
and Closing Balance to Yes
Set Show using Alternate Units to Yes
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Figure 4.1 Stock Summary with Alternate Units
4.1.1 Tail Units

Go to Gateway of Tally > Stock Summary
Press F12: Configure and set Show Tail Units of Compound Units to Yes. Now,
Tally.ERP 9 displays compound units of stock items in Tail units.
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Why is Tally the best?

3.7 User defined Vouchers

To create a new Voucher Type,

3.8 Sales and Purchase extracts

To generate Extract of Purchase Register,

Figure 3.5 Purchase Extract Report

To generate day-wise extract of Purchase, in F12: Configure of the

3.9 Cash Flows

Figure 3.6 Cash Flow Summary

To generate Daily Cash Flow Statement, press F4.

3.10 Daily Balance & Transaction Values

To View Daily Break Up of Cash/Bank Books or Ledger,

Figure 3.7 Daily Breakup of Ledger

3.11 Interest Calculations

Step 1: Enable Interest Calculation

Step 2: Enable Ledger for Interest Calculation

Figure 3.8 Interest Calculation Parameters

To view Interest Calculation Report,

3.12 Percentage Based Reporting

Figure 3.9 Balance Sheet with Percentages

4.1 Flexible units of Measure

To create Units of Measure,

To activate and create Alternate Units,

To view Reports in Alternative Units,

Figure 4.1 Stock Summary with Alternate Units

4.1.1 Tail Units

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