What you'll learn
Tally is accounting software used to manage financial transactions, record business data, and generate reports. It is a comprehensive business management solution for tasks like invoicing, inventory management, payroll, and tax compliance, designed to simplify and automate business operations. Popular among small and medium-sized businesses, Tally software helps users maintain accurate financial records and make informed business decisions.
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Course Syllabus
Foundational concepts
- Accounting fundamentals: Introduction to accounting, types of accounts, rules of accounting, and ledger creation.
- Company creation: Setting up a company, security controls, and other basic configurations.
- Inventory management: Creating stock groups, stock categories, stock items, and managing godowns (warehouses).
Core Tally operations
- Voucher entries: Recording transactions using various accounting and inventory vouchers.
- Bank reconciliation: Reconciling bank statements and using features like deposit slips.
- Billing: Generating invoices and using debit/credit notes.
Taxation
- GST: Enabling GST, creating GST ledgers, recording GST-compliant transactions, and generating GST returns.
- TDS/TCS: Understanding and calculating TDS (Tax Deducted at Source) and TCS (Tax Collected at Source), and filing TDS returns.
- Other taxes: Concepts of VAT and Excise Duty can also be included.
Advanced features
- Advanced accounting: Bill-wise details, cost centers and cost categories, interest calculations, and budgeting.
- Advanced inventory: Order processing, price lists, and Point of Sale (POS) transactions.
- Payroll management: Employee creation, attendance, salary processing, and statutory deductions like PF, ESI, and professional tax.
Reporting and data management
- Financial reports: Generating and interpreting financial statements like the Balance Sheet and Profit & Loss account.
- Data management: Backup and restore, data synchronization, splitting company data, and using security and audit features.
- Other reports: Accessing inventory reports, payroll reports, and statutory reports.
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