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Create Multiple ledger in tally|tally tips

An Accounting software is useful when it provides some facility to work with easy, accuracy and speedy or offers its users some short cuts to save item and resources.

Fortunately, in Tally.ERP 9 there is  a lot of some additional features are available out of which we have already discussed. One such tally tip is creating multiple ledgers in tally in one go. Multiple ledger creations in the software save your time by creating many ledgers in one go without any need to create a ledger one by one.You may select different ledger group for each different ledger under multi-ledger creation.

tips and tricks in tally

today, I will let you know one more useful feature of tally.erp 9 that is creating multiple ledgers in one go.This facility is very important when you are creating a new company in tally and pulling your opening balance from other accounting software or a

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How to set voucher class for auto duty calculation

Tally.erp 9 allows to set voucher class for auto duty calculation. Auto duty calculation voucher class saves time for posting sales/purchase entries as it captures the applicable ledger name and duty amount automatically. Auto duty calculation voucher class also saves you from posting to wrong accounting head or charging  wrong duty.

Recently, one member  of tally nine face book fan club posted a query that by mistake they have charged CST @4% instead of 2% in sales invoice.

This kind of erroneously mistake create problems in accounts and increase work load such as raising debit/credit note or modification of original bill which again always not possible. The best solutions to avoid such kind of mistake is to make purchase and sales entry through a voucher class.

Setting up a voucher class help in speedy and error free entry for duty calculation for purchase and sales voucher entry.I will explain

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Why you should renew your tally.net subscription

“A genuine and Professional business can’t afford to use an outdated and pirated accounting software”

Renewal of tally.net subscription help to get the updated tally.erp 9 software as well as many other feature like remote edit, managing your subscription, and many other facilities which will not be available if you don’t renew your tally.net subscription.

Government policies are subject to frequent  change due to so many Socio Eco factors and it is more true regarding taxation policies and rules. We all are witness of constant and major changes relating to rules and rates of Vat,TDS,Excise service tax etc etc

As and whenever there is such changes which affect accounts, the user needs to change the accounting software immediately. During last 3-4 years, I am a witness of all the updates made by the tally solutions to assist its users to meet the statutory compliance required by the various government department.This

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Bad Debt: Accounting entry in tally

One of tally nine reader Mr. Mohammad Saleem  requested me to write about bad debt and accounting of bad debt in tally.

In business bad debt is common in view of accounts and a business unit has always fear of bad debt when goods are being sold on credit period. High bad debt reflects poor sales management and lack of managerial control over the business and over the passage of time, units having high debt in accounts turns to bankruptcy.

bad debt is generally refers to the amount which is doubtful to receive from your debtors. It is also known as bad and doubtful debt.  Bad debt arise under following circumstances:

What is Bad Debt

  • 1) When there is no possibility to recover an amount from you debtor.
    2) Your debtors become insolvent or run away.
    3) All your efforts becomes fruitless to recover the amount.
    4) There is a

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Journal entry for pre paid expenses

Sometimes ago, I have written about how to prepare balance sheet in tally. If you read my old post, then you will know about some basics of accountancy which as accountant you must know. Accounting of journal entry of prepaid expenses is  a must for preparation and finalization of accounting statements as well as to find out the actual profit/loss during the time by the entity

Proper accounting of prepaid expenses is such a basic accounting feature which an accountant must know and understand the same. So you must know what expenses should be  determined as prepaid expenses for journal entry purpose.

In a computerize accounting software like tally, preparing a balance sheet is not as easy as ABC or just pressing certain keys of the key board. However it will be a half-cooked  balance sheet as an accountant should be needed  to pass several journal entry before he generate

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How to do payroll entry in tally

Tally supports payroll processing with quite easy navigation and it covers almost every important feature of a perfect professional payroll processing software. Payroll in tally is most favorite feature and I love this.

We have already gone through following basic configuration and master ledger creation for payroll in tally

Activation of payroll and employee creation

employee attendance in tally

creation of pay head

Now we will go a further and important step. today I will let you know how to create salary details for an employee and how to pass an automated payroll entry in tally.

From main menu of tally Press L or Payroll Info

Now select create to create salary structure of an employee for the first time.This is a one time setup requirement

You will find the list of all the employees as shown below. you have to create salary structure step by step for each every

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How to learn tally free ?

Tally education is always in a boom for last 15 years. At any period of time, student always love to learn tally.
However getting a professional education through tally authorised academy or professional classes is not everybody’s cup of tea.

If you are looking for a software to learn tally, then You are just a silly person because tally in itself is a software. Many readers request me to suggest them a software to learn tally. I only can feel pity for all such readers.

If you think that you can learn tally within couple of days or without understanding basic accounting and without doing some practical work on tally then again you are on a wrong ship in the sea and you will never find your destination.

I am trying to provide free education on Accountancy, legal matter and Tally software to the extent within my capacity.

For legal

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Branch Accounting in Tally |how to do ?

When you have a branch in a different state, then how you will prepare accounts for branch ?

A head office and branch office accounts must be separated however at the year end and for assessment purpose, the branch Accounts are required to be incorporated into the Head Office Account.

A branch is required to issue Form F towards stock transfer from HO to Branch

First of all you must understand what is a branch. A branch is a distinct entity from its Head Office having separate TIN CST number. It may or may not have separate bank accounts.The head office and Branch accounting transactions are required to be recorded separately and you can’t club both the transactions.

Suppose a branch office incur an expenses of Rs. 5000 towards consultancy fees to an advocate and the same is being paid by the Head office bank account, then the entry will

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Journal entry for payroll processing

Tally.erp 9 offers free payroll processing software with its erp series release. However If you are not using tally’s payroll processing, then you might interested how to pass journal entry for payroll processing.

Though tally.erp 9’s payroll processing  feature is  working excellent and serves a complete payroll processing software for totally free. All you need is to be familiar with the entire system.but even in case you are not familiar with this, then you should understand journal entry for payroll processing.

I have posted some articles about payroll processing in tally for employee creation and attendance creation and creating Payhead

However there are many users who do not use the tally’s automated payroll module also users of earlier version i.e. tally 7.2, 6.3 etc have no access to this facility. So, today, I am writing for them how to process payroll manually and how to pass necessary journal entry with

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