Prepared By: Uday Shah (HOD -IT) -
Ruparel Education Pvt. Ltd. - Junagadh
Tally Prime Topic Details
1. Company Create
Company Create is the first step in Tally where a new
business profile is created. It stores company details such as name, address,
financial year, and currency symbol. Every accounting transaction is recorded
inside the company. It helps in maintaining organized business records.
Multiple companies can also be created in Tally.
2. Company Shut
Company Shut means closing the currently opened company in
Tally. It is used when the user wants to stop working on a company safely. This
option protects company data from unauthorized access. It does not delete the
company data. The company can be reopened later whenever required.
3. Company Alter
Company Alter is used to modify existing company details in
Tally. Users can change company name, address, financial year, and other
settings. It helps in updating business information whenever needed. This
feature is useful when company details change over time. Only authorized users
should alter company data.
4. Company Delete
Company Delete is used to permanently remove a company from
Tally. All accounting and inventory records of that company are deleted. This
option should be used carefully because deleted data cannot be recovered
easily. Generally, it is used for duplicate or unused companies. Backup should
be taken before deleting.
5. Ledger Create
Ledger Create is used to create accounts for parties,
expenses, income, assets, and liabilities. Every transaction in Tally is
recorded through ledgers. It helps in maintaining proper accounting records.
Examples include Cash Account, Salary Account, and Purchase Account. Correct
ledger creation ensures accurate financial reports.
6. Voucher Entry
Voucher Entry is used to record daily business transactions
in Tally. Different vouchers are available such as Payment, Receipt, Sales, and
Purchase. It helps in maintaining proper accounting records. Voucher entry is
the main working area in Tally. Accurate voucher entries generate correct
reports.
7. Stock Maintain
Stock Maintain is used to manage inventory items in Tally.
It records stock quantity, stock value, and movement of goods. Businesses can
track available products easily. It helps in avoiding stock shortages and
excess stock. Inventory management becomes faster and more accurate.
8. Budget
Budget in Tally is used to set financial targets for income
and expenses. It helps businesses compare actual performance with planned
performance. Budgeting improves financial planning and control. Users can
create monthly or yearly budgets. It helps management make better business
decisions.
9. Credit Limit
Credit Limit is used to define the maximum credit allowed to
customers. It helps businesses control outstanding payments from parties. Tally
gives warnings when the credit limit exceeds. This feature improves payment
management and reduces bad debts. It is useful for maintaining financial
discipline.
10. Alternate Unit
Alternate Unit is used when a product is measured in more
than one unit. For example, goods may be sold in pieces and boxes. It helps
businesses manage inventory accurately. Tally automatically converts one unit
into another. This feature is useful in trading and manufacturing businesses.
11. Cost Center
Cost Center is used to track expenses and income
department-wise or project-wise. It helps management analyze business
performance in detail. Expenses can be allocated to different departments. This
improves cost control and decision-making. It is widely used in large
organizations.
12. Bill Wise Details
Bill Wise Details are used to track pending bills and
payments party-wise. It helps businesses manage receivables and payables
efficiently. Users can view outstanding bills easily. This feature improves
payment tracking and follow-up. It is useful for credit transactions.
13. Batch Wise Details
Batch Wise Details are used to maintain stock according to
batch numbers. It is useful for products with expiry dates like medicines and
food items. Businesses can track manufacturing and expiry dates easily. It
improves inventory control and product tracking. This feature is important for
quality management.
14. Interest Calculation
Interest Calculation in Tally is used to calculate interest
on outstanding amounts automatically. It helps businesses manage delayed
payments. Interest can be calculated on receivables and payables. This reduces
manual calculation work. It ensures accurate financial records.
15. Integrate Account and Inventory
This feature combines accounting and inventory management
together. Stock transactions automatically affect accounting records. It
reduces duplicate data entry work. Businesses can generate complete financial
and stock reports together. It improves accuracy and efficiency.
16. Multiple Price Level
Multiple Price Level is used to maintain different selling
prices for different customers. Wholesale and retail customers can have
separate prices. It helps businesses manage flexible pricing policies. Tally
automatically applies the correct price level. This feature improves sales
management.
17. Discount Column in Invoice
Discount Column in Invoice is used to provide discounts
directly during billing. It helps businesses offer trade or promotional
discounts to customers. Discounts are automatically adjusted in invoice totals.
This feature improves billing accuracy. It also enhances customer satisfaction.
18. Multiple Address
Multiple Address feature allows storing different addresses
for the same party. Businesses can maintain billing and shipping addresses
separately. It helps in accurate delivery and communication. Users can select
the required address during invoice generation. This feature is useful for
companies with branches.
19. Configuration
Configuration in Tally is used to customize software
settings according to business needs. Users can enable or disable various
features. It improves usability and business efficiency. Configuration includes
voucher settings, printing, security, and inventory options. Proper
configuration ensures smooth working.
20. Non Accounting
Non Accounting Voucher is used to record inventory
transactions without affecting accounting entries. Examples include Delivery
Note and Receipt Note. It helps businesses track stock movement separately.
This feature is useful before actual invoicing. It improves inventory
monitoring.
21. Multi Currency
Multi Currency feature allows transactions in different
foreign currencies. Businesses dealing internationally can record foreign
payments and receipts. Tally automatically converts currency values. It helps
maintain accurate exchange calculations. This feature is useful for
import-export businesses.
22. GST
GST in Tally is used to manage Goods and Services Tax
transactions. It automatically calculates CGST, SGST, and IGST. Businesses can
generate GST invoices and reports easily. It helps in tax compliance and return
filing. This feature reduces manual tax calculation errors.
23. TDS
TDS stands for Tax Deducted at Source. Tally helps
businesses deduct and manage TDS automatically during payments. It generates
TDS reports and certificates. This feature ensures compliance with government
tax rules. It reduces calculation errors and saves time.
24. TCS
TCS stands for Tax Collected at Source. It is collected by
the seller from the buyer during specified transactions. Tally automatically
calculates and records TCS entries. It helps businesses comply with taxation
laws. Proper TCS management avoids legal issues.
25. Manufacturing
Manufacturing feature in Tally is used to manage production
activities. It records raw materials, production process, and finished goods.
Businesses can calculate production cost accurately. It improves inventory and
production management. This feature is useful for manufacturing industries.
26. Stock Transfer
Stock Transfer is used to move stock from one location or
godown to another. It helps businesses maintain proper stock records. Tally
updates inventory automatically after transfer. This feature improves warehouse
management. It is useful for businesses with multiple branches.
27. Voucher Class
Voucher Class is used to automate accounting allocations in
vouchers. It reduces manual entry work and improves accuracy. Businesses can
predefine accounting rules. This feature speeds up voucher entry. It is useful
for repetitive transactions.
28. Job Costing
Job Costing is used to calculate the cost of a specific
project or job. It helps businesses track expenses and profitability
project-wise. Materials, labor, and other costs can be recorded separately.
This feature improves cost control. It is useful in construction and service
industries.
29. Cost Tracking
Cost Tracking helps businesses monitor expenses and income
efficiently. It provides detailed cost analysis for projects or departments.
Businesses can identify unnecessary expenses easily. This feature improves
budgeting and financial planning. It supports better management decisions.
30. POS Point of Sale
POS in Tally is used for retail billing and sales
management. It generates quick invoices with barcode support. Businesses can
manage daily sales efficiently. It improves billing speed and customer service.
POS is commonly used in shops and supermarkets.
31. Banking
Banking feature in Tally helps manage bank transactions and
reconciliation. Users can record deposits, withdrawals, and cheque
transactions. It supports online banking features as well. Bank reconciliation
improves accuracy of financial records. This feature simplifies banking
operations.
32. Backup Restore Data
Backup is used to save company data safely for future
recovery. Restore is used to recover backed-up data when needed. It protects
business records from accidental loss or system failure. Regular backups
improve data security. This feature is very important in accounting systems.
33. Import Export Data
Import and Export Data feature allows transferring data
between Tally and other software. Businesses can import ledgers, stock items,
and vouchers. Data can also be exported to Excel or XML format. This feature
saves time and improves data sharing. It supports better business integration.
34. Split Company Data
Split Company Data is used to divide company records based
on financial years. It helps maintain smaller and faster databases. Old data is
stored separately while new data continues normally. This improves software
performance. It is useful for large businesses with long-term records.
35. Shortcut Keys
Shortcut Keys in Tally help users work quickly and
efficiently. They reduce the time required for navigation and data entry.
Common functions can be accessed instantly through keyboard commands. This
improves productivity and user experience. Learning shortcut keys increases
working speed.
36. Reporting
Reporting in Tally provides financial and inventory reports
automatically. Users can generate Balance Sheet, Profit & Loss, Stock
Summary, and other reports. Reports help management analyze business
performance. Accurate reports support decision-making. Reporting is one of the
most important features of Tally.
37. Help Menu
Help Menu in Tally provides guidance and support for users.
It contains information about features, shortcuts, and troubleshooting.
Beginners can learn Tally functions easily through help options. It improves
understanding of the software. Users can quickly solve common problems.
38. Online Browser Access
Online Browser Access allows users to access Tally data
through internet browsers. Business owners can view reports remotely from any
location. It improves flexibility and remote working. Data can be monitored in
real time. This feature is useful for modern businesses.
39. Security Level
Security Level in Tally is used to control user access and
permissions. Different users can have different rights according to their
roles. It protects company data from unauthorized changes. Password protection
improves data security. This feature is important for confidential business
records.
40. Tally Vault Password
Tally Vault Password provides advanced security for company
data. It encrypts company information and prevents unauthorized access. Even if
someone copies the data, it cannot be opened without the password. This feature
ensures high data protection. It is useful for confidential business
information.
41. TallySolutions Site Information
TallySolutions website provides official information,
updates, and support for Tally software. Users can download updates, learn new
features, and access training materials. It also provides customer support and
solutions. Businesses can stay updated with latest Tally versions. The site is
helpful for students and professionals.