Tally Prime Mastery

Introduction to TallyPrime

• Overview of Tally and its features
• Understanding the Tally Interface

Setting Up Tally for First Use

• Installing TallyPrime
• Navigating the Tally Gateway

Creating a New Company

• Steps to create a company in Tally
• Understanding required company details
• Single vs. Multi-User Mode

Configuring Company Features

• Enabling and disabling features (F11: Features)
• Configuring accounting, inventory, and taxation settings
• Security and user controls

Company Alteration and Deletion

• Altering company information
• Backing up and restoring company data
• Deleting a company

Company Data Management

• Opening and shutting companies
• Exporting and importing company data
• Company data path and folder structure

Security and User Access Configuration

• Creating users and setting roles
• Enabling Tally Vault and Tally Audit

Practical Exercises

• Hands-on practice: Creating multiple companies
• Configuring different business types (trading, service, manufacturing)

Common Errors and Troubleshooting

• Resolving startup and configuration errors
• Handling corrupted company data

Introduction to Tally

• What is Tally / Tally Prime?
• Features and Uses of Tally
• Basic Accounting Terminologies

Introduction to Groups in Tally

• What are Groups?
• Default Groups in Tally
• Primary Groups vs Sub-Groups
• List of Predefined Groups
• Purpose of Grouping Accounts

Creating and Managing Groups

• Creating a New Group (Manual & Multiple Creation)
• ltering and Deleting Groups
• Group Classification: Capital, Revenue, Purchase, Sales, etc.
• Practical Examples of Grouping

Introduction to Ledgers

• What is a Ledger?
• Importance of Ledger in Accounting
• Ledger vs Group

Creating Ledgers in Tally

• Single Ledger Creation
• Multiple Ledger Creation
• Assigning Ledgers to Correct Groups
• Naming Conventions and Best Practices

Altering and Displaying Ledgers

• How to Modify Existing Ledgers
• How to Display and Search Ledgers
• Ledger Deletion (with Caution)

Practical Ledger Examples

• Ledgers for a Trading Business (Sales, Purchases, etc.)
• Ledgers for Service Businesses
• Bank, Cash, Capital, and Expense Ledgers

Reports and Validation

• Trial Balance and Group Summary Reports
• Verifying Grouping Errors
• Using Display → Statements of Accounts

Shortcut Keys and Efficiency Tips

• Tally Shortcut Keys for Ledger/Group Creation
• Navigating Quickly in Tally

Practice Exercises & Quiz

• Hands-on Practice Tasks
• Ledger Creation Assignment
• Group Mapping Task
• Quiz & Answer Review

Introduction to Vouchers

• Purpose of vouchers in Tally
• Types: Payment, Receipt, Sales, Purchase, etc.

Voucher Configuration

• Enabling voucher types
• Entry modes: Single & Double entry

Payment Voucher

• For paying expenses and creditors
• Cash & Bank payments

Receipt Voucher

• For receiving income and payments
• From customers, loans, etc.

Contra Voucher

• Cash deposit, ATM withdrawal
• Bank-to-bank or cash-to-bank entries

Journal Voucher

• Adjustment entries (e.g. depreciation, provisions)
• Non-cash entries

Sales Voucher

• Cash or credit sales
• GST and stock item inclusion

Purchase Voucher

• Cash or credit purchases
• Recording suppliers and GST

Credit & Debit Notes

• Sales/purchase returns
• Adjusting previous invoices

Voucher Reports

• Day Book
• Filtering and reviewing vouchers

Practice & Shortcuts

• Keyboard shortcuts
• Practice scenarios & quiz

Introduction to Inventory

• Importance of inventory in Tally
• Integration with accounting

Stock Groups

• What are stock groups?
• Primary vs sub-groups
• Creating, altering, and deleting groups

Stock Items

• Definition and purpose
• Creating stock items
• Assigning items to groups
• Opening balances

Units of Measure

• Types: Simple (pcs, kg) & Compound (dozen, box of 12)
• Creating, editing, and assigning units

Godowns (Optional)

• Managing multiple locations
• Stock tracking per godown

Stock Categories (Advanced)

• Alternative classification
• Example: Brand, Size, Type

Inventory Reports

• Stock Summary
• Movement Analysis
• Item-wise and group-wise reports

Practice & Shortcuts

• Create groups, items, units
• Use shortcut keys
• Solve practical exercises

Introduction to GST

• What is GST?
• GST types: CGST, SGST, IGST, UTGST
• Applicability in Tally

Enabling GST in Tally

• Activate GST in Company Features
• Set GST details (registration type, GSTIN, state)

Creating GST Ledgers

• GST duty ledgers (CGST, SGST, IGST)
• Tax rate settings
• RCM (Reverse Charge) ledger (if applicable)

Configuring GST for Stock Items

• HSN codes
• Tax rates (5%, 12%, 18%, etc.)
• Taxability: Taxable, Exempt, Nil-rated

Party Ledger Configuration

• GST registration types: Regular, Composition, Unregistered
• Assigning GSTIN and state

GST Transactions

• GST Sales entry
• GST Purchase entry
• Intra-state vs Inter-state
• Reverse charge transactions

GST Returns and Reports

• GSTR-1, GSTR-2A, GSTR-3B overview
• Viewing GST reports in Tally
• Exporting returns

Practice & Troubleshooting

• Sample transactions
• Error correction tips
• Adding validations to forms
• Common GST mistakes in Tally

TDS Setup

• Enable TDS in Company Features
• Enter TAN, deductor details

TDS Master Creation

• Create TDS Nature of Payment (e.g., Contractor, Rent)
• Set deduction rates

Ledger Creation for TDS

• TDS ledger (under Duties & Taxes)
• Party ledger with PAN & TDS settings
• Expense ledger linking to TDS

TDS Transactions

• Booking expense with TDS deduction
• TDS payment to government
• TDS journal entries

TDS Reports

• TDS Outstanding
• Form 26Q
• TDS Challan generation

TCS Setup

• Enable TCS in Company Features
• Set collector details

TCS Master Creation

• Define Nature of Goods for TCS
• Set collection rates

Ledger Creation for TCS

• TCS ledger (under Duties & Taxes)
• Customer ledger with PAN
• Sales ledger linked to TCS

TCS Transactions

• Sales entry with TCS applied
• Collecting and depositing TCS

TCS Reports

• TCS Summary
• Form 27EQ
• TCS Challan print/export

Practice & Review

• Sample TDS & TCS entries
• Troubleshooting errors
• Monthly compliance checklist

Introduction to Bank Reconciliation

• What is Bank Reconciliation?
• Why is it important?
• Difference between passbook & cashbook

Pre-Requisites

• Create a bank ledger (under Bank Accounts)
• Record all bank-related transactions (Receipts, Payments, Contra)

Performing Bank Reconciliation

• Enter cheque dates / clearance dates
• Match bank entries with statement
• Identify unreconciled transactions

Auto Bank Reconciliation (Tally Prime)

• Import bank statement (Excel/CSV format)
• Auto-match transactions
• Manually match pending entries

Bank Reconciliation Report

• View reconciled & unreconciled entries
• Export and print reconciliation statement
• Rectify mismatches

Practice & Tips

• Real-life reconciliation example
• Common errors (e.g., wrong date, duplicate entry)
• Best practices for monthly closing

Introduction to Payroll

• What is Payroll?
• Benefits of using Payroll in Tally
• Payroll vs Manual Salary Management

Enabling Payroll in Tally

• Activate Payroll in Company Features
• Basic setup requirements

Employee Master Creation

• Creating employee groups
• Adding individual employee details (name, gender, PAN, etc.)

Payroll Units

• Define units (e.g., Days, Hours, Pieces)
• Link to attendance and pay calculation

Pay Heads Setup

• Types: Earnings, Deductions, Bonuses, Loans
• Examples: Basic Pay, HRA, PF, ESI, Income Tax

Salary Structure Creation

• Create salary structure for different employee groups
• Auto calculations based on formula or fixed values

Attendance & Production Types

• Define attendance types: Present, Absent, Leave
• Link to salary calculation

Payroll Vouchers

• Record monthly salary using Payroll Voucher
• Bonus, gratuity, or arrears entries

Statutory Compliance (Optional)

• PF, ESI, PT, TDS deduction setup
• Form 12A, ECR file generation, etc.

Payroll Reports

• Pay Sheet
• Payslip generation
• Employee Ledger
• Salary Statement

Practice & Review

• Create sample employee setup
• Record payroll for a month
• Generate payslip and reports

Introduction

• What are Cost Centres & Cost Categories?
• What is Budgeting in accounting?
• Importance in business analysis

Enabling Features in Tally

• Activate Cost Centres & Budgets in Company Features
• Navigate: F11 → Accounting Features

Cost Centres

• Create Cost Centres (e.g., Branch, Department, Project)
• Assign to transactions (sales, salaries, etc.)

Cost Categories (Optional Advanced)

• Multiple cost tracking (e.g., Location-wise + Department-wise)
• Create and link multiple categories

Recording Transactions

• Tag cost centres in voucher entries
• Use for income, expenses, and stock entries

Cost Centre Reports

• Cost Centre Breakup
• Ledger Cost Allocation
• Profitability by Centre

Budgeting in Tally

• Create Budgets for Ledgers and Cost Centres
• Define budget periods and limits

Budget Variance Reports

• Compare actual vs budgeted
• Identify overspending or shortfalls
• Generate Budget Analysis Report

Practice & Review

• Create sample cost centres & budgets
• Record and review budget-based transactions
• Generate reports and interpret data

Introduction

• Purpose of reports
• Types: Profit & Loss, Balance Sheet, etc.

Profit & Loss Account

• View income & expenses
• Period selection (monthly, yearly)
• Drill down to ledger level

Balance Sheet

• View assets & liabilities
• Understand closing balances
• Adjust display settings (Schedule VI, horizontal view)

Trial Balance

• Check ledger balances
• Identify errors in entries
• Opening, closing, and net balance view

Cash/Bank Book

• View daily cash and bank transactions
• Filter by date or ledger
• Useful for cash flow tracking

Day Book

• View all voucher entries in one place
• Filter by voucher type, ledger, or date

Ratio Analysis (Tally Prime)

• Business health overview
• Liquidity, profitability, and turnover ratios

Stock Summary

• View item-wise stock position
• Opening, inward, outward, and closing balance

GST Reports (if enabled)

• GSTR-1, GSTR-3B
• View taxable sales/purchases and returns

Exporting & Printing Reports

• Export reports to PDF/Excel
• Customize headers, columns, periods
• Print with or without schedules

Practice & Case Study

• Generate reports for a sample company
• Review financial health
• Interpret business performance

Introduction

• What are MIS (Management Information System) reports?
• Importance for decision-making
• Types of business insights Tally provides

Types of MIS Reports in Tally

• Cash Flow / Fund Flow
• Receivables & Payables
• Stock Movement / Item-wise Profitability
• Cost Centre Reports
• Ledger Analysis

Generating MIS Reports

• Navigate to Display More Reports
• Use filters (date, ledger, group, item, etc.)
• Drill down to vouchers and ledgers

Customizing Reports

• Set columns for comparison (Monthly, Quarterly, Yearly)
• Add formulas and ratios
• Rearrange and configure views

Analysis & Interpretation

• Compare actual vs budget
• Identify growth trends and cost leakages
• Evaluate party performance or stock turnover

Exporting & Sharing

• Export reports in Excel or PDF format
• Email directly from Tally
• Schedule regular MIS reviews

Practice Session

• Generate a set of MIS reports
• Identify business insights
• Present findings like a manager

Introduction

• Why security is important in Tally
• Overview of user roles and access control

Enabling Security Control

• Activate security control in Company Features
• Set Admin username & password

Creating Users

• Add multiple users with login IDs
• Assign different security levels (e.g., Data Entry, Manager)

User Roles & Permissions

• Default roles: Owner, Accounts Manager, Data Entry, Auditor
• Custom roles: Create based on specific needs
• Restrict access to vouchers, reports, settings

Password Policies

• Set strong passwords
• Change/reset passwords
• Enable expiry or change alerts

Audit & Activity Tracking

• View who made changes in Tally
• Use Tally audit feature for Admin review

Tally Vault (Data Encryption)

• Encrypt company data with a vault password
• Prevent unauthorized data access

Remote Access (Optional)

• Access Tally data remotely with secure login (Tally.NET)
• Prevent unauthorized data access

Best Practices

• Keep admin login safe
• Assign limited access to users
• Regularly review user activity

Practice Task

• Create 2–3 users with different roles
• Test login restrictions and access
• Review changes using audit feature

Introduction to Data Management

• Importance of data backup and security
• Overview of backup, restore, and migration features

Understanding Tally Data Files

• Company data structure and storage locations

Data Backup Process

• Step-by-step backup procedure
• Choosing backup destinations (local/external/cloud)

Data Restore Process

• Restoring backup files
• Validating restored company data

Data Migration

• Migrating from older Tally versions to Tally Prime
• Introduction to Tally Data Migration Tool

Tally Vault & Data Security

• Encrypting data using Tally Vault
• Password protection and user control

Backup Best Practices

• Regular backup schedules
• Safe storage recommendations

Troubleshooting

• Common backup, restore, and migration issues
• Quick fixes and preventive measures

Hands-on Practice

• Backup, delete, restore, and migrate sample company data
• Verify data accuracy after each step

Introduction

• Importance of sharing and documenting reports
• Overview of printing and exporting options in Tally

Printing Reports

• Printing vouchers, ledgers, and financial statements
• Single and multi-voucher printing
• Printer setup and page settings

Exporting Reports

• Export to formats: Excel, PDF, JPEG, XML
• Setting export location and file name
• Exporting single and batch reports

Emailing Reports

• Directly email reports from Tally
• Configure email settings
• Attach and send reports securely

Report Customization

• Adjust columns, date ranges, and filters before printing/exporting
• Set headers, footers, and company details

Practical Session

• Print a Balance Sheet and Ledger
• Export a Sales Report to Excel and PDF
• Email a Profit & Loss Report

Best Practices

• Review reports before sharing
• Use proper naming and file organization
• Secure sensitive financial data when exporting