tally inventory practical assignment

How To Easily Learn Tally Online With Practical Assignments

Every business needs accounting since it’s essential for everything from tracking expenses to choosing investments to calculating profits. we can say that learning tally is a terrific skill to have in the job market. even there’s no need to be physically present in the class to learn tally. nowadays, thanks to the internet you can learn tally online. this article has included how to learn tally online and everything you need to know about tally. there are so many institutes that provide tally courses online. so, let’s get started..

What is Tally?

• Tally stands for Transaction Allowed in Linear Line Yards.
• It is an accounting and inventory management application software.
• It which can record daily business transactions or accounting works like sales, purchases, payments received, banking or taxation, etc.
• The most popular way we can say that Tally is an Accounting Software.
• It is designed and developed by Tally Solutions which is a Bangalore-based IT Solution Company.
• In 1986, S.S Goenka was the founding chairperson of Tally Solutions Private Limited.
• Developed based on Accounting principles and Mercantile Law.
• It is simple yet powerful software.
• It is a window-based software.
• It is a stand-alone application.
• It is developed using the Tally Definition Language (TDL).
• It supports,

-Bookkeeping

-MIS report

Versions of Tally Software 

Other features of tally software.

• User-friendly accounting software
• Multi-lingual
• Excellent backup provisions
• Easy exit to an operating system
• Tally can maintain books of account either with inventory or without inventory.
• It can work with multiple company accounts simultaneously.
• Tally can get offline and online support.
• It can be installed on any version of Windows OS like NT, 2000, ME, 95, 98, XP, 7 Ultimate, Vista, and Windows 8. Etc.
• Many computerized accounting software requires numeric codes to maintain the account. But Tally pioneered that no accounting codes were needed.

Skills required in Tally

Career and scope in tally.

Having the skill set of Tally software may help you land your chosen job path quickly if you are someone wishing to start a futuristic career in the accounting field. It is because Tally is extensively used across all business sizes, from small to large across all sectors. 

90% of companies and businesses are said to use Tally software for their daily accounting tasks.

Additionally, the top MNCs and Retail businesses of all kinds, financial institutions, financial organizations (NGOs), hospitals, BPO and KPO sectors, and chartered accountant companies are among the many different industries that use Tally software.

You can have so many career choices in Tally. Such as-

• Inventory Manager
• Data Entry Operator
• Billing Executive
• Tally freelancers
• Tally Course Benefits
• Scope of Tally Courses in India

Job Profiles and Salary in Tally

The common job profiles offered in the organizations for accountants with Tally skill sets are-

Many students who are looking for Diploma Courses after 10th/12th or after graduation and planning to look for career opportunities in computer accounting can learn tally.

The purpose of the tally training course is to teach students the fundamentals of accounting and how to integrate such concepts with the tally platform. Although it’s easy to learn, for ways of operation one must grasp how the software works as well as be familiar with its applications.

Tally Jobs in India

Requirements for Learning Tally Online.

• Any student who wants to learn tally software online should have a computer or laptop with an internet connection.
• Nowadays it has become very easy to learn any software or anything from home.
• There are so many courses with certification and placement assistance in Tally you can opt for.
• Here we have listed some of the best Tally courses you can learn online.
• All of these courses are completely online, so there’s no need to show up to a classroom in person.
• You can access your lectures, readings, and assignments from reputable institutes anytime and anywhere via the web or your mobile device.

More Professional Courses from IIM SKILLS

• Digital Marketing Course
• Technical Writing Course
• Content Writing Course
• Investment Banking Course
• Business Accounting And Taxation Course
• CAT Coaching

Learn Tally Online: IIM SKILLS

IIM SKILLS is one of the global leading institutes that provides professional courses in various subjects including writing, marketing, accounting, etc.

The tally master course by IIM SKILLS is one of the best for getting hands-on experience. It is a comprehensive training program that covers all of Tally’s topics and features. Students learn precisely how to manage and maintain accounts, inventory, GST, and payroll at Tally in the course modules. The training module is particularly informative because it starts from the basics, providing a foundation for your understanding of Tally. Also, a variety of practical assignments and tasks are included to ensure that students grasp the subject well. IIM SKILL’s professional guidance allows one to interact, clear doubts and learn more effectively.

Course Name: Tally Course

Duration of the Course: 18 Hours of Self Learning, 20 Hours of Lecture

Mode of the Course: Online

Fees: Rs.2, 900 + 18% GST

Course Syllabus:

Course offerings:.

• Access to Learning Management System (LMS)
• Self-Paced Learning
• Software Tools
• 60+ Hours Practical Assignment
• Internship Opportunities
• Dedicated Placement Cell
• Govt. of India Recognized Certification

Certificate Availability: Yes

Contact Information:

Email ID: [email protected]

Phone Number: +91 9580 740 740

Learn Tally Online: Tally Training

In-depth information is covered in the Tally ERP9 online course with GST to match the industry’s accounting standards. With the use of real-world examples and tally entries, Tally Training not only explain the principles but also show you how to practically apply them in your day-to-day accounting process.

Course Name: Tally ERP9 Expert Course

Duration of the Course: 1 or 2 Months

Fees: Rs.1800

Couse Syllabus:

• Learning in Hing-lish language
• DVD(Videos + eBook PDF)

Contact Information

Phone Number: +91 9081211174

Learn Tally Online: Vskills

Intelligent Communication Systems India Limited (ICSIL), a department of the Indian government, manages the skills certification programs.

Their certification programs help students measure and exhibit the skills that have high demand and business value. Vskills Tally ERP9 course provides students with a clear understanding of accounting as well as the necessary practical aspects. Thanks to their self-paced training, even newbies can gain from the course’s worthwhile teaching.

Course Name: Certificate in Tally ERP9

Duration of the Course: 19 Hours

Fees: Rs.3, 499

Couse Syllabus: 

• Introduction to Tally ERP9
• Stock and Godwon in Tally
• Groups, Ledgers, Vouchers and, others
• Reports in Tally ERP9
• Back and Restore in Tally ERP9
• Tally.NET in Tally ERP9
• Government Certification
• Lifelong e-learning access

Phone Number: +011 4734 4723

Recommend Read,

• Advanced Tally Courses
• Tally ERP 9 Certificate
• Learn Online Tally
• Tally Training Benefit
• Tally Courses Uses
• Tally Course Eligibility

Learn Tally Online: LearnVern

LearnVern teaches students in the user’s native language. You can learn their Tally courses in Hindi.

Their method of instruction encourages critical thinking, learning by doing, and teaching by example. To help students in remembering the subject better, their Tally course material is enhanced with graphics, animations and, photos. LearnVern also gives practical training through assignments and tests.

Phone Number: +91 88490 04643

Learn Tally Online: UDEMY

Udemy is one of the best online platforms that provide various Tally certification courses. All of these courses are accessible from anywhere at affordable prices. Here we’ve listed three courses among others with the highest rating. You will learn how to use the tally program for payroll, audit, TDS, and GST accounting of any organization.  Their tally course provides students the chance to work on real-time projects in addition to assignments.

• Assignments
• Access on Mobile and TV
• Full Lifetime Access

Please, go to their official website for further details.

Learn Tally Online: Coursera

Students who want to build a career in bookkeeping or want to learn how to manage their account books, Coursera offers the best Tally Bookkeeper professional certificate course.

In their unique 4-month Tally Book Keeper Professional Certificate program, three separate Tally software-related courses are offered. It comprises most of the theoretical and instructional modules. You have to take the course in the specific order listed because the content builds on the previous session.

Program Name: Tally Bookkeeper Professional Certificate

Fees: You can enroll for free.

• Interview Prep

Learn Tally Online: InternShala Trainings

InternShala is an Ed-tech company that provides live, interactive learning in digital format.

Their Online Tally course has covered all the accounting-related concepts. They also provide quizzes and assignments after completing every module to revise your knowledge. 

Duration of the Course: 6 Weeks, 1hr/day (Flexible Schedule)

Fees: Rs.4499

• Basic Concepts of Accounting
• The world of Tally
• Accounting process in Tally
• Bank reconciliation statement
• Tax Deducted at source (TDS) & Collected at Source (TCS) accounting in Tally
• Payroll in Tally
• Goods and Service Tax (GST) accounting in Tally
• Data extraction from Tally
• Some extra topics
• Final training project
• Placement Assistance
• Learn in Hindi
• 1:1 Doubt Solving
• Hands-On-Practice

Learn Tally Online: FITA Academy

Tally Online courses at FITA Academy offer comprehensive instruction in the tally ERP9 software from Journal Entries to finalizing accounts, including managing GST and other taxation. 

You will learn the ins and outs of accounting and finance-related Tally. The modules are covered from both basic and advanced standpoints to help student comprehension of the subject better. Their online Tally course also includes real-world assignments to meet industry standards.

Course Name: Online Tally Course

Duration of the Course:

• Tally-Advanced accounting professional-basics in financial accounting
• Introduction to Tally
• Configuring Tally ERP9
• Company Management
• Master- Ledgers and Groups
• Understanding Vouchers in Tally
• Tally ERP9 reports
• Inventory configuration in Tally ERP9
• Managing inventory using Tally ERP9
• Goods and Service Tax (GST)
• Purchase and Sales reports
• GST reports and returns
• Using tally to manage point of sales (POS)
• Bank reconciliation
• Tally-expert accounting professional
• Payroll accounting
• More advanced topic
• Live Projects
• Instructor-led Live Class
• Flexibility
• Placement Support

Phone Number: 93450 45466

Learn Tally Online: Frequently Asked Questions

Q. can i learn to tally online through a laptop.

Answer: Yes, Students who wish to study tally software online should have access to a computer or laptop with an internet connection.

Q. Which Tally is best for beginners?

Answer: The latest version of Tally Prime is easy to learn. There is no longer a need for prior expertise or specialized training in Tally. You can easily use Tally Prime for your regular accounting tasks with only a simple installation and setup.

Q. Can learning Tally online is difficult?

Answer: Beginners have the choice of enrolling in expert courses provided by reputable institutions or learning the program on their own with the help of blogs and videos that are easily available online.

Q. Where can I practice Tally?

Answer: The Tally Software Education version is available on  www.tallysolution.com  website. You may practice it by downloading it for free.

Q. Which industries can one enter after completing the Tally course?

Answer: The private and public sectors provide a ton of options. Banking, finance, business manufacturing, IT industries, and so on. You can also work in sales, marketing, insurance, and HR.

Learn Tally Online: Conclusion

That’s all about how to learn tally online. In this article, we have focused on tally software, its feature, also the scope and career opportunities in tally. And institutions that provide tally training online. We hope this might have helped to get some insights about tally.  If you plan to learn tally online, you can get in touch with the experts of this institute that will provide you with the information and exposure you need in this area.

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How to Maintain inventory in tally ERP 9 (Part I): Stock Groups

Posted on Last updated: September 27, 2021

Inventory management is one of the toughest business activities for small and growing businesses. Not only do you need to physically care for the stuff, but you also have to make sure that you don’t run out of some items or have too much of some other items.

Now the good news …

Tally provides outstanding features that make inventory management a lot easy. With not too much effort, you can probably get your inventory management system up and running.

As you record sales and purchases, Tally will keep track of your inventory, just as the point-of-sale system at the supermarket does when it scan items.

In this Tally Tutorials, you’ll learn how to maintain inventory in Tally using inventory masters such as stock categories , stock groups, and stock items.

Setting Inventory features in Tally ERP 9

Before you can track your inventory, first, of course, you need to tell Tally that you want to track inventory by enabling the inventory features. By default, most settings in Tally pertaining to inventory are set to No. You, therefore, have to set them to Yes before you can be able to work with Tally inventory features.

Turning on inventory features in Tally

To turn on the inventory features just follow the below steps:

• Whilst in the Gateway of Tally window, press F12 or click F12: Configure to display the Company Features menu. See screenshot:

From this menu, double-click Accounting Features (or press A on your keyboard for the same effect). Your screen should look remarkably similar to the one below:

• As seen in the above picture, under the General Category, set Maintain accounts only to No and press Ctrl+A to save the settings. You should now be able to see the Inventory Info. option from the Gateway of Tally under Masters. See screenshot:

Inventory Masters

When you click the Inventory Info. menu from the Gateway of Tally, the program opens up a menu called Inventory info. as in the picture below:

This menu contains items called Inventory Masters which collectively makes inventory management a lot simple. These items include Stock Groups, Stock Categories, Stock Items, Units of measure, Voucher Types, and Copy Allocation Details. But for beginners, our main focus will be on the first four items, Groups, Categories, Items, and Units of Measure.

Let’s now look at these inventory masters one after the other to get them all clarified.

Stock Groups in Tally ERP 9

Stock groups in Inventory masters are similar to that of Accounting masters. Groups are very helpful when it comes to classifying stock items. It enables you to locate stock items easily and report their details in statements.

With Tally stock groups, you can group stock items base on some common features such as the product type, the product brand, etc. For example, you can group stock items in a structure like this:

Thus, the above group structure can help you to locate items easily as well as produce reports on each of the groups, such as reports on Laptop computers or report on Desktop computers.

Creating a single Stock Group

To illustrate this very well, we’ll create a stock group called Lenovo Computers using the single stock group creation option. To create single Stock Groups in Tally ERP 9:

• Go to Gateway of Tally →Inventory Info. → Stock Groups → Create (Under Single Stock Group)

• Enter the necessary information as follows:

Name: Provide the name of the stock group you are creating. Example Lenovo Computers.

Alias: Enter another name for this group apart from the name you provide under the name field. You can use a numerical code for the alias name for easy access. This field is optional though.

Under: The under field lets you specify whether to create a primary group or a sub-group under another group.

While in the Under field, if you want to make the group a sub-group under another group, say Computers, which doesn’t exist in the List of Groups, you can press Alt+C to create a parent group.

Should Quantities of items be added? : This field is concern about the units of measurements for the items you will place under this group. All items to be placed under a particular group should have the same measurement units before their quantities can be added. For example, you cannot add quantities in liters to quantities in kgs. Thus, if the stock items that will fall under the group have different units of measurements, then quantities of items should not be added.

• Now press Ctrl+A to save the stock group

NOTE: If you specify Primary when filling the Under field, it means that you are creating a main group. But if you specify another group in the Under field, then you are creating a sub-group.

Creating Multiple Stock Group

Maybe you have more than one stock groups you need to create. Tally lets you create several stock groups all in one window.

To illustrate multiple stock group creation, let’s create the following main stock groups (under Primary):

• Dell computers
• HP computers
• Acer Computers
• Go to Gateway of Tally → Inventory Info. → Stock Groups → Create (Under the Multiple Stock Groups)

After selecting the CReate option, you should see a screen similar to the one below:

• Provide the details of the Stock Groups as follows:

Under Group: Specifying this field depends on the stock groups you are about to create. Are they main groups or sub-groups? And if they are sub-groups, are they under the same group? Or does each one of them fall under a different group of its own?

If they are all main groups or sub-groups but fall under different parent groups, then All Items should be chosen as it allows you the option to select different groups for different stocks. If they are not main groups but fall under one group as sub-groups, then the group they all fall under should be selected in the Under Group field.

In our case, we want to create all three groups under Primary. Thus we need to select All Items to enable us the option to specify the group.

S.No.: This is the serial number column that is generated automatically. Thus, you don’t need to specify the serial number. Tally will not even give you the chance.

Name of Stock Group: This is the column to list the names of the stock groups you wish to create. As you can see, you don’t have the option to give a second (or Alias) name for your stock group under the multiple stock group creation sections. However, you can do that by altering the ledger under a single ledger.

Under: This column depends on what you select in the under group field at the initial stage. If you select All items, it means you didn’t specify any parent group for your stock group, Tally will, therefore, allow you the chance to do so. But if you already select a group in the Under Group field, that group will be used as the parent group for all the stock groups and will be entered automatically for you in the Under column.

You can also create new parent Stock Groups from this field by pressing Alt+C simultaneously on your keyboard.

Should Quantities of Items be Added: This option has been explained under the single ledger creation. This option is concern about the units of measurements for the items you will place under this group. All items to be placed under a particular group should have the same measurement units before their quantities can be added. This way, you can know the total number of items under Dell Computers, HP Computers or Acer Computers.

For example, you cannot add quantities in litres to quantities in kgs. Thus, if the stock items that will fall under the group have different units of measurements, then quantities of items should not be added and can be set to NO . But if they have the same measuring units, this option may be set to Yes . (see screenshot)

• After providing all the relevant details, press Ctrl+A to finalize the multiple ledger creation.

Display and Alter Stock Groups

After the stock groups have been created, you may need to peek at all the stock groups to check for accuracy and maybe make some changes to some of them. Tally can help with that as it allows you the option to Display and Alter stock groups, both under Single and Multiple options.

Displaying Stock Groups

• To display stock groups, go to Gateway of Tally → Inventory Info. → Stock Groups → Display (You can either choose to display under the single stock group or multiple stock group)

• Tally will prompt you a List of Stock Groups. Select the group you want to display. If you are displaying under the Multiple Stock Group, you’ll have to select All Items from the list of stock groups to be able to display all available stock groups. Below is a picture of multiple stock groups in display mode:

Note: you cannot make changes to stock groups whilst in the display mode. To make any changes you need to use the Alter feature.

Stock Group Alteration

To Alter stock groups in Tally, go to Gateway of Tally → Inventory Info. → Stock Groups → Alter (You can either choose to Alter under the single stock group or multiple stock group)

• Tally will prompt you a List of Stock Groups. Select the group you want to Alter. If you are Altering under the Multiple Stock Group, you’ll have to select All Items from the list of stock groups to be able to Alter all available stock groups. Below is a picture of multiple stock groups in the Alteration mode:

• After making all the necessary alteration to the Stock Groups, press Ctrl+A to save the changes.

Deleting Stock Groups

You can also delete any stock group provided the following conditions are met:

• If the Stock group is not used by any sub-group or stock items.

Thus to delete a stock group, first, of course, delete the stock items and subgroups that fall under that group.

After deleting the stock items and subgroups, go to the alteration page of that group. Whilst in the alteration mode for that particular stock group, press Alt+D.

Tally will prompt you for confirmation to delete the stock group. Once you accept to delete, it will be deleted completely forever.

Next step: Inventory Management Part 2

My attempt to explain the concepts into details has called for a lengthy tutorial. That’s why I need to break this article into several parts.

In the next parts of this guide, you’ll learn how to manage stock units of measurement, stock categories , and stock items.

manish mani tiwari

Wednesday 8th of January 2020

how to maintain petroal pump accounting with inventory in tally erp 9

Mathan kumar

Monday 29th of March 2021

This is one of the indirect expenses in accounts.

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• Inventory Management in Tally Prime: Practice Questions and Solutions

• Ramesh started business with cash - 25,000
• Purchased furniture for office use - 5,000
• Open a bank account in HDFC bank with cash - 10,000
• Purchased machine for office use in cash - 9,000
• Paid rent - 4,500
• a) 20 nos Iron (M1200) of Philips @ 900/nos
• b) 15 nos Juicer mixer (K1910) of LG @ 2000/nos
• a) 40 nos TV(32 Inch P9800) of samsung @ 15,000 /nos
• b) 25 nos Fridge(200LTR R880) of whirlpool @ 21,000/nos
• c) 16 nos Wrist watch(T3120) of Titan @ 1,200/nos
• and paid to ghanshayam electronics rs 4,00,000 in cash
• paid taxi fare in cash - 500
• withdraw cash for personal use - 2,000
• a) 4 nos wrist watch (T3120) @ 1,500 /nos
• b) 1 nos iron (M1200) @ 1,100/nos
• paid carriage expense - 150
• a) 22 nos TV(16 inch u88) of LG
• b) 40 nos DTH of Tata sky @ 800/nos
• c) 10 Nos AC(2 Ton - Q2100) of voltas @ 22,000/nos
• d) 50 nos Iron (K8845) of whirlpool @ 660/nos
• e) 60 nos Cooler (Y5T) of shymphony @ 800/nos
• a) 8 nos Juicer mixer(K1910) @ 2,200/NOS
• b) 4 nos Fridge (200LTR r880) @ 22,000/NOS
• c) 2 nos AC (2 ton-q2100) @ 25,000 /Nos
• d) 10 nos TV(32 inch P9800) @ 16,000/nos
• e) 10 nos TV(16 inch u88) @ 6,200/nos
• f) 4 nos DTH @ 1,000/nos
• Paid to ghanshyam electronics in cash - 2,00,000
• Paid to harish electronics from hdfc bank - 2,000
• Received amount from dheeraj verma in hdfc bank account - 1,00,000
• Paid for salary in cash - 15,000 & paid electricity bill in cash - 4,000
• Paid rent from bank account - 8,000
• Paid water bill expense - 600
• Deposit cash into hdfc bank account - 10,000
• Manage Companies in Tally Prime: Create, Edit, and Delete | Step-by-Step Guide
• Create Ledgers with Group Names for Transactions in Tally Prime | Ledger Creation Examples
• Journal voucher and examples for practice
• Inventory Purchase and Sale: Examples and Techniques
• Inventory based exercise for practise

Create Stock Item in Tally Prime Notes for Practice

How to create Stock Group, Unit, Godown and stock item in Tally Prime. Step by Step Notes with practice assignment for Computer Training Institute and Self Study of learners.

Create a New Company for Practice the creation of Stock Group, Godown, Unit and Stock Item F3  : (Company) > Create Company

Create Stock Group in Tally Prime

Gateway of Tally > Masters > Create > Inventory Masters > Stock Group

Create Godown / Location

Gateway of Tally > Masters > Create > Inventory Masters > Godown Main Location exists by default.  Create following new Godown

Create Unit

Gateway of Tally > Masters > Create > Inventory Masters >Unit

Type: Simple

Create Stock Item in Tally Prime

Gateway of Tally > Masters > Create > Inventory Masters >Stock item F12 : Configure  > Show More Configuration : Yes Inventory details : Provide Standard Buying and Selling Rates :  ( Yes )

During creation of following items use Units : Nos Set Standard Rates ( Yes ) : Provide Rate of respective item from below table. Opening Balance : Quantity of item Godown : Onside and Warehouse, as mentioned below (Do’t fill rate here)

Go To (Alt+G) : Stock Query  : To check individual items Go To (Alt+G) : Stock Summary >F5 (stock Item wise)

Related Posts

Fundamental of accounting and tally prime notes, introduction of tally prime notes, groups and ledgers in tally prime notes, voucher entry in tally prime notes, leave a comment.

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Inventory Management in TallyPrime

TallyPrime supports tracking inventory in your business, from purchase order to sales. Stock tracking can be across godowns/locations, or different stages of processing.

Inventory tracking covers stock changes due to purchase and sales processes, delivery or receipt as samples, movements across godowns, all adjustment entries including those caused by physical verification, and so on. You can also use batch details for items, if applicable. You can do item cost tracking and costing for jobs/projects, if needed. Various reports are available to help you track all your inventory transactions.

Inventory Transactions refers to the records you maintain about all inventory movements, including new purchases and sales, that are part of your daily business. You can use the corresponding voucher type in TallyPrime for different transactions. You can also use Stock Journal to record different types of stock movements, like those between your own godowns/locations, or adjustments due to leakage or damage. Tracking of additional cost or expenses incurred due to transfer of goods is also possible. TallyPrime provides specialised voucher types, along with the flexibility to assign different numbering styles for vouchers.

What’s more!

If you have opted for Edit Log, then you can track changes made in the Stock Items and inventory entries.

When your business needs to do a stock take or physical verification of available items, and record the findings, you can use the corresponding voucher types. Any discrepancy can be updated using adjustment entries as per your business processes.

Stock Management options in TallyPrime provides the flexibility to define your stock items, group them if needed, and record transactions as per your needs. Stock item details that you can store in TallyPrime includes the name of the item to the different units of measurements used in transactions, taxability of items, and prices. You can group items based on any identified feature for ease of management using Stock Groups. For analysis purposes you can use a parallel grouping method called Stock Category, when Stock Groups are already used for one type of grouping.

Inventory Reports is a basic tool to run your business successfully. TallyPrime provides reports like Stock Summary, Movement Analysis, Aging Analysis, Inventory Reorder Status, Godown Summary, and so on, with real-time data.

Tracking Item Cost enables you to analyse the running cost and profitability of the item being tracked through manufacturing, sales, purchase, and so on. It starts with accumulation of costs and revenue for a quantity of the stock item across various transactions. It helps you to ascertain various costs associated with production and distribution, and thus determine the sale price of finished goods and overall profitability.

Godowns/Locations in TallyPrime enables you to manage tracking your inventory storage and transactions from different physical godowns/locations, cabinets, racks, or bins used in your business. You can track the inventory for your projects, and different manufacturing stages, including that of scrap and byproducts. Stock moving in or out of your business premises for consignment sale or job work is another aspect that you can track.

Batches feature in TallyPrime helps in better management of stock items with limited shelf life or perishable goods. You can track items based on manufacturing and expiry dates, as per your needs.

Manufacturing & Job Work transactions can be recorded using the different inventory vouchers in TallyPrime. You can define Bill of Material (BOM) as needed and use in inventory transactions.

Job Costing option allows you to track the cost of individual projects. You can track the inventory allocation to each project, periodically evaluate the usage, and arrive at the cost.

Refer to the following topics for detailed information:

• Inventory Only Entry
• Manage Your Stock Items
• Inventory Reports
• Track Item Cost
• Inventory Storage Using Godowns/Locations
• Manage Inventory Batch-wise
• Manage Inventory in Manufacturing
• Job Costing

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dVIDYA : e-learning | CA/CS/CMA Foundation | CBSE/ISCE/Boards- Class 11-12 | Competitive Exams

Practical Assignments : GST Accounts–Tally

The Practical Assignments-Tax Accounts- covers  Basic tasks of Maintaining GST Accounts, from set up, Data Entry to GST Reports, in Tally Prime Rel 3.x.  

This assignment is in continuation to Practical Assignments of Basic Financial Accounting & Basic Invoicing & Inventory Accounts. Maintain GST Accounts  in the same Company in which Basic Financial Accounts and Basic Invoicing &  Inventory Accounts Practical Assignments data were entered.  

Perform the operations for each Assignment as explained. Capture the screenshots (Prtscr) and paste it in MS Word file in 1×1 cell. Write the number and Name of screen shot as indicated. Explain the options and operational step.  

This way, capture the screenshots and place in MS Word file, in sequence. Don’t repeat same screenshot.  

After completing all assignments, take Back up of the data files. Now email to [email protected], attaching the Data Back Up file and screenshot zip file.       

GST Accounting – Practical Assignments

Continue in same Company after previous assignments

01-1 Company GST Features

[At Company >Click F11. At Company Features , under section Taxation , set Yes at Enable Goods & Services Tax (GST) . Next, At GST Details screen , under GST Registration Details section, enter the relevant details.]  

Capture Screenshot 1-1A : Company Features . 1-1B : Company GST Details set up  

For more details, visit

https://dvidya.com/goods-service-tax-gst/ https://dvidya.com/goods-services-tax-gst-set-up-composition-dealers-tally/ https://dvidya.com/goods-services-tax-gst-set-up-regular-dealers-tally/ https://youtu.be/STv3wbduT8A https://youtu.be/RwJJIYC6msE https://youtu.be/VSS48c_LZXY https://youtu.be/OjSvFYUJ_bI   https://youtu.be/mLrLyOeDX78 https://youtu.be/7wlTsturfks

02 GST Masters

02-1 Create SGST Ledger Account Master

[Select GoT>Create> Ledger. At Ledger Account creation , at Name , enter SGST; at Under , select Duties & Taxes ; at Tax Type , select SGST/UTGST ; At Inventory Values are affected , set No .  

Capture Screenshot 1-2 : SGST Ledger Account Creation.  

https://dvidya.com/gst-set-up-accounts-inventory-masters-tally/ https://youtu.be/x8VZLjVEeug https://youtu.be/XVZbi0-ufDY https://youtu.be/Uzsise4yZXg

02-2 Create CGST Ledger Account Master

[Select GoT>Create> Ledger. At Ledger Account creation , at Name , enter CGST; at Under , select Duties & Taxes ; at Tax Type. At Inventory Values are affected , set No .   Capture Screenshot 2-2 : CGST Ledger Account Creation.  

02-3 Create IGST Ledger Account Master

[Select GoT>Create> Ledger. At Ledger Account creation , at Name , enter IGST; at Under , select Duties & Taxes ; at Tax Type select I GST ; At Inventory Values are affected , set No .  

Capture Screenshot 2-3 : CGST Ledger Account Creation.  

https://youtu.be/XVZbi0-ufDY

02-4 UQC set up in UoM Master

Set UQC in UoM – Kilograms [Select GoT>Alter> Unit. Select Kilogram. At Unit Alteration , at Unit Quantity Code (UQC) , select KGS-Kilograms from the UQC list. Press Ctrl+A to save].  

Capture Screenshot 2-4 : UoM-UQC set up.  

https://youtu.be/KAKto78n9fQ

02-5 GST details set up in Stock Item Master

Set GST details in Stock Item Wheat, Select GoT>Alter> Item. Select Wheat, At Stock Item Alteration,  Under HSN/SAC & Related Details, at  HSN/SAC  Details , select Specify Details Here. At HSN Description – Food grains, HSN Code- 1234, At Description of Goods, select Specify Details Here , Under GST Rate and related Details, At GST Rate details, select Specify Details Here . At Taxability Type, select Taxable . At GST Rate, enter the GST Rate applicable for the Item. At Type of Supply, select Goods .  

2-5 : Capture Screenshot UoM-UQC set up.  

https://youtu.be/U7fuonC9dkI https://youtu.be/LK-df_Oh6Vk

02-6 Set GST details in Supplier Master

At Supplier Ledger Account, enter Tax related details [Select GoT>Alter>Ledger,  select ABC & Co. At Ledger Alteration, click F12:Configure. At Ledger Master Configuration screen, under Party Tax Registration details , set Yes at Provide GST Registration details . At Tax Registration details of Ledger Account Master, Enter Registration Type- Regular, GSTIN 19AAAC1234K1ZV. At Set Alter Additional Details, set Yes and then Place of Supply, select the State of the Party.  

Capture Screenshot : 2-6A: Ledger Account Master, 2-6B: Ledger Master Configuration screen,

https://youtu.be/1_jlZD8mXkI https://youtu.be/B6jEPMw26Tg  

03 GST Invoicing

3-1 Create GST Sales Invoice .

Create Sales Invoice for 10 kg of Wheat @25 per kg sold to ABC & Co on 1-5-21. [Select GoT>Vouchers. Click F8:Sales (or press F8). Select Sales Voucher type from List. Click Ctrl+H and select Item Invoice . Enter Voucher Date 1-5-21 . At Party A/c Name , select ABC & Co . At Sales Ledger, select Sales .  At Name of Item , select Wheat , At Quantity , enter 10 kg. at Rate , enter 25/kg. The amount 250 would be shown. In next line, select End of List . Next select SGST, the SGST amount (15.00) would be auto calculated. Next select CGST. the CGST amount (15.00) would be auto calculated. The total Invoice amount (250.00+15.00+15.00 = 280.00) is displayed. Press Ctrl+A to save the Voucher].  

Capture Screenshot : 3-1 GST Sales Invoice Entry ,

https://youtu.be/L57aR4Zb7GM https://youtu.be/S0y56oS7r1U

3-2 Print the Sales Voucher

Voucher dated 1-5-23 on ABC Co [Select GoT>Day Book . At Day Book display, press F2 and Date 1-5-23. Select the Sales Voucher from the list to get the Voucher Alteration. Press Ctrl+P to get the Print screen. Click I:Preview to View the  Print form of the Invoice on screen]    

Capture Screenshot : 3-2 GST Sales Invoice in Print ,

https://youtu.be/L57aR4Zb7GM https://youtu.be/S0y56oS7r1U  

03-03 GST Reports

• Display GSTR-1 for 1-4-23 to 31-7-23

[Select GoT>Display more reports>GST Reports>GSTR-1. Click F2:Period (or press F2) and enter Period from 1-4-23 to 31-7-23 to display GSTR-1 Report  

Capture Screenshot : 3-3 GSTR-1 Display, https://dvidya.com/gsrt-1-return-filing-tally/

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Tally.ERP9 Practical Work Book 1: Accounting & Inventory Management of Mobile and Computer shop with GST Kindle Edition

This book is specially prepared for beginners. Tally and GST Experts : Please note, this book is not suitable for you. So, kindly do not purchase it and poorly rate and badly review this book. Sorry friends, I have very bitter experience.

• Print length 129 pages
• Language English
• Publication date 15 October 2021
• File size 7748 KB
• Page Flip Enabled
• Word Wise Enabled
• Enhanced typesetting Enabled
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• ASIN ‏ : ‎ B09JM8XZBY
• Language ‏ : ‎ English
• File size ‏ : ‎ 7748 KB
• Text-to-Speech ‏ : ‎ Enabled
• Screen Reader ‏ : ‎ Supported
• Enhanced typesetting ‏ : ‎ Enabled
• X-Ray ‏ : ‎ Not Enabled
• Word Wise ‏ : ‎ Enabled
• Print length ‏ : ‎ 129 pages
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Tally Practical Questions and Answer PDF (Free Download)

Through today’s post, we are going to share Tally Practical Questions and Answer PDF with you, which you can download for free using direct download link given below in this post.

If you are studying Tally, then today’s notes can be very important for you, because in today’s notes, some important questions of Tally have been given along with their answers, with the help of which you can practice.

Tally Practical Questions and Answer PDF

Practical questions and answers of tally pdf.

If you are preparing for competitive exam of banking then study of tally becomes very important, because questions related to tally are also asked in the recruitment exam of banking.

Along with this, practical questions have also been given in this notes with their solutions, by solving which you can practice tally.

This PDF Notes can be very beneficial for you to practice Tally, that’s why must download it for free.

Download Tally Practical Questions and Answer PDF

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