How do tally work

You will face no data integration or migration issues. Get an unmatched experience of simplicity, reliability, speed and flexibility while using Tally. ERP 9. Focus on growing your business and let Tally manage your business and VAT compliance.

Visit TallyHelp to explore more. How to Use Tally. Tally Solutions Updated on: February 3, Get started with Tally. Select Country. Don't forget to select your Emirate if you are from the UAE. You can name the ledger as per your preference. For example: VAT Ledger. Enter remaining details as required. Do you maintain business and accounting information manually? Are you using Excel to record and maintain accounting and business information?

ERP 9 as mentioned in the above mentioned 4 steps. Are you already using accounting software and planning to try Tally.

Here we will be required to select as to which group the ledger will be assigned to. Choosing the right group is important, as it will affect how numbers and sales are totalled later.

Step 3: Give the ledger a name. Enter a name for your ledger to know what the ledger contains in it without having to open it. Step 4: Enter an opening balance if any. For Example: If you are creating a ledger for your bank account, this would be the amount currently in it. If you are starting a ledger for the amount owed to a Vendor, the amount you owe would be the starting balance.

Understand the purpose of vouchers: It is a document that contains the details of a financial transaction. These are used for all aspects of a business, from sales to deposits.

ERP 9 comes with several of the most popular types of vouchers pre-configured for usage. How to create different vouchers? Step 3: Enter the required information. The information needed to complete the voucher will vary depending on the type of voucher we want to create.

We will have to typically need to determine which ledger the voucher will be attached to, as well as enter the date and names of any involved parties.

Tally is the most popular and Highly Effective accounting tool which makes the life of an accountant easier. Anyone who is looking to enter in the field of accounting or wishes to lead a successful career in accounting must learn Tally. ERP 9 as the benefits of using Tally. ERP 9 are more for both small and medium-sized businesses.

Moreover the simplicity is the driving force which allures the users of financial information to actively use Tally as the ERP solution for their businesses. How To Use Tally. Tally Solutions Updated on: August 24, What is Tally. ERP 9? Yes No. Log in Social login does not work in incognito and private browsers.

Please log in with your username or email to continue. No account yet? Create an account. Edit this Article. We use cookies to make wikiHow great. By using our site, you agree to our cookie policy. Cookie Settings. Learn why people trust wikiHow. Download Article Explore this Article parts. Related Articles. Article Summary. Part 1. Install the Tally software. Tally 9 ERP can be purchased and downloaded from the Tally website. You can download a day trial version if you're not sure if you want to use it yet.

Tally 9 is for Windows only. You can also use Tally in Educational Mode, which allows you to learn how to use the software without having to purchase a license. Some features are restricted in this mode. Navigate Tally. Tally is designed to be navigated by using the keyboard.

While you can click any option you want, everything in Tally has a keyboard shortcut. Usually, the key is displayed next to each available option. Learning how to get around with the keyboard will increase your efficiency. Create a company. In order to use Tally, you will need to create a company in the program.

Even if you aren't using Tally professionally, you still need to create a company. In the opening menu, select "Create Company". This will take you to the Company Creation screen, which will allow you to enter in your company details. Enter in your company name as it appears on your banking records. Enter your company address, statutory compliance, telephone number, and email Turn on "Auto Backup" to ensure that a copy of all your work is saved in case something happens to the original.

Choose your currency. If you are using Tally to just manage your accounts, select "Accounts info" in the Maintain menu. If you are using Tally for inventory management as well, select "Accounts with inventory". Enter the start of your financial year and the start date for the books. Part 2. Understand what ledgers are for. Ledgers record all of the transactions for that account.

You will need to create a ledger for each account that you do business with. There are two ledgers included: "Cash" and "Profit and Loss Account". You can create as many other ledgers as you need.

Place the party in the group that they closest relate to. For example, A party that you sell more to than you buy from would be a Sundry Debtors account. Open the Create Ledger window. Select "Accounts Info" from the Gateway menu. Choose the "Ledgers" option. You can then choose to create a single ledger or create multiple ledgers.