Q&A for How to Use Tally

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Question

What is an accounting voucher?

Community Answer

An accounting voucher is a document that contains the details of financial transactions.

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Question

What is a balance sheet?

Community Answer

A balance sheet contain both assets and liabilities. It shows the current status of the business.

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Question

What are the first steps for creating a company in Tally?

Community Answer

In the opening menu, select "Create Company".

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Question

How can I delete a company completely from my programs?

Subramanyam Gaddam

Community Answer

Go to Company Info > Alter > select the company you want to delete and press Alt+D to delete the company.

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Question

How can I make another company on Tally?

Community Answer

Open Tally Software. The option shows to create a new company, so click and create it.

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Question

How do I check for all sales transactions posted?

Community Answer

Open Tally 1) Gateway of tally. 2) Select display. 3) Day book.

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Question

How can I create a stock entry?

Neha Soni

Community Answer

Open Tally software, then go to Gateway of Tally. Select the option of inventory info, and you can create the entries of stock.

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Question

How do I create a ledger?

Community Answer

Firstly open Tally, then go to Gateway of Tally, and then click on Accounting Vouchers. The option to create a new ledger will be shown there.

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Question

I have a sale bill that shows freight outward that was charged, but the freight was paid by the customer, and the bill shows a credit balance in the trial balance. Is the freight an indirect expense or indirect income?

Community Answer

Freight is a direct expenses only when it's given for the purpose of manufacturing the goods. In no way, it is income.

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Question

How to I type the password with a lowercase letter as the first letter?

Community Answer

Type your password regularly, then delete the first letter and type it again.

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Question

How long does it take to learn the basics of Tally?

Community Answer

If you are seriously dedicated to learning it, it will take a month or two to become familiar with it.

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Question

How do I view a payment voucher that was already entered?

Community Answer

Navigate to Gateway Tally, Reports, and Account Books. Then, select Cash and Bank Books, Bank Accounts, and finally Payment Entry.

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Question

Where do I enter the payment transactions and the amount?

Community Answer

Open the Tally software, then go to "Gateway of Tally." Select the option of "Accounting voucher," and press F5. Then, you can create the entries of payment.

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Question

How do I change the voucher date?

Community Answer

Press the F2 key. A box will appear with a space for you to write your desired date.

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Question

How do I delete a sales entry for my company?

Community Answer

Select Company, then enter a/c info. Go to display and enter day book, select sales, press enter, select entry, press Alt+D and then enter.

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Question

What is meant by "accounts with inventory?"

Community Answer

Accounts with Inventory means the maintaining of firm transactions with stock.

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Question

How can I print from Tally in sales accounting mode?

Community Answer

After creating an accounting voucher, click the PAGEUP button; your previously created sales voucher will be displayed. In the left corner of the menu bar, you'll see that the first option is "Print." Click that option to print the page. (The shortcut to print is ALT+P.)

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Question

What do I enter into a purchase ledger box?

Community Answer

Cash and credit purchases are recorded in the purchase ledger. Credit purchases are first recorded in the purchase book and then are transferred to the purchase ledger.

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Question

Can a non-medical student learn Tally?

Community Answer

Yes! The software has applications not directly related to the medical field, and if you feel that you could use it to your benefit, you should try to learn it! Also, there are medical certifications available, if you're looking for a more comprehensive learning approach with possible professional opportunities.

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Question

Is Tally software available free of cost?

Community Answer

No. You can use a trial version for 30 days for free, then you have to purchase it.

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Question

How do I use Tally for a private micro finance bank?

Community Answer

Basically, a micro finance bank is all about receiving money for deposits and lending money as loans. You create all customers on Tally as a chart of accounts such that all transactions relating to every customer are recorded. You can generate an account statement for every customer. Tally will really help you to do this.

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Question

What is a financial year?

Community Answer

A financial (or fiscal) year is a specified annual period of time during which particular financial transactions have occurred. A financial year is not always the same across the board -- for example, individual businesses can have their own financial years. The US government has a financial year that begins on October 1st and ends on September 30th of the following year.

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Question

What are two predefined ledger accounts in Tally ERP 9?

Community Answer

There are two predefined ledger accounts in Tally ERP: Cash Account and Profit and Loss Account.

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Question

What are the disadvantages of using Tally?

Community Answer

A journal voucher cannot be amended or deleted once created, it is not user-friendly, it is expensive, the support system is not good and if the user password is lost then the data retrieval is very difficult and time consuming.

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Question

What is the Support Center in Tally?

Community Answer

The Support Center displays the list of queries raised by the user in the last seven days. By default, the page size is set to 10 rows. The Support Center allows you to post query or issues on the functional and technical aspects of the product.

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Question

How do I create a paid bill when using Tally?

Community Answer

Open Tally, go to accounting vouchers and use the option ALT-F9. You'll get a screen called Debit Note; that's how you can create a paid bill.

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Question

How do I create a supplier's account when using Tally?

Community Answer

From the Tally main menu, select Accounts Info. From the options, select Ledgers, then Create.

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Question

How can I complete a name if there are more characters than are allowed?

Community Answer

Shorten the name to the first initial, middle initial and last name. If you want to keep your first name, shorten the middle and last name to initials.

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Question

How do I use a Tally for multiple restaurants? Can I maintain a single account?

Community Answer

It is easy to use single user Tally in multiple computers with the remote access facility. The latest version of Tally ERP 9 silver license can be installed on multiple computers on a LAN Network but will work only on any one systems at a time.

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