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Introduction Tally 9.
Tally Solutions has released a new version of its Tally 9 software. It is most popular software for accounts and inventory management. It offers different feature for maintaining accounts. Tally 9 is integrated with a lot of advanced feature like better data migrating, fast data speed, payroll management, TDS, TCS, job costing and point- of sale invoicing etc.
Tally 9, a synchronized multilingual integrated business accounting software, enables to maintain accounts in any Indian language, view it in other and print it in yet other language of their choice. Targeted at SMBs, Tally 9 offers greater reliability, scalability, accuracy and speed. It supports Unicode data which helps companies maintain data in any of the Unicode supported languages.
Tally 9 program also has features including tax compliance features for value added tax (VAT), service tax and excise for traders.
FEATURES IN TALLY 9
1. Easy calculation of TDS (Tax Deducted at Source)
Using Tally 9 you can calculate TDS appropriately.
2. Negative Stock Warning in Journal Voucher
Create a stock item with an opening balance of considerable units and pass a delivery note against it. using a Journal Voucher to record a sales transaction tracking the delivery note would display a warning message of negative stock even through a considerable amount of stock was left over. The same has been addressed appropriately in Journal voucher.
3. Performance in Networking Environment
Tally 9 can work efficiently in a networking environment, if the Server has Windows XP and Clients have Windows 98 as the operating system, Tally performs efficiently with improved data stability.
4. Interest calculation in Forex
Chapter
A Sales transaction created using Forex currency and Interest calculation, calculates the Outstanding Forex Interest accurately.
5. Ledger Account
Tally now prints the address of the Sundry Debtor/ Creditor ledgers, while printing a ledger account.
6. Ratio Analysis
If the Net Profit is lesser than the Return on Investment% or Return on Working Capital, Tally displays the values with a negative sign.
7. Maintain balances bill by bill
Altering a ledger created under Sundry Debtors or Sundry Creditors, by setting Maintain balances bill to Yes affects only the selected ledger and not the Group.
8. Migration Tool
Users may now migrate data to Tally 9, using the Tally Data Migration Tool on Tablet PCs and Desktop computers of higher processor speed.
9. Stock Journal
The value in the rate field of a Stock Journal (Transfer of Materials) appears appropriately.
10. Purchase/Sales Order
The list of Party or Customer ledgers is displayed appropriately, while creating a Purchase/ Sales order respectively.
11. Inventory Report
The Godown – wise Inventory reports mow displays accurate balance values whereas multiple Godowns are maintained.
12. VAT (Value Added Tax)
You can calculate value added tax in tally 9.
13. FIFO Perpetual
Processor Intel Pentium IV and higher or equivalent
Memory 256 MB RAM or more Free Hard Disk Space 40 MB Minimum (excluding the data)_
Monitor Resolution Recommended 1024*768 or higher
Note: For better performance Tally Multilingual needs more memory (about 40MB of Free Hard Disk Space)
To install Tally in Windows NT/2000/XP/2003/XP SP2/VISTA Workstation,
- You need to have administrator/all rights (to create, write, update, modify and delete) on the Application. Data, Configuration and Language directory.
- Ensure that the Operating System you use supports Tally for Multilingual support.
You can install Tally using one of the given methods.
Method 1:
- Double click install.exe form the CD.
Method 2:
- Click START from Windows.
- Select RUN.
- TYPE:/INSTALL.
- Press ENTER key.
Follow the instructions on your screen to install Tally.
- The Tally Setup Wizard is displayed.
- Click Next to continue
- The Installation wizard displays the License Agreement. Read the license agreement before you proceed. Click I Agree to continue. Click I Decline to stop setup or click Back to go to the pervious screen.
Language Directory
Tally Language files (.dct) reside in this directory.
Specify the path of the directory where the Language files will be maintained. It is usually the same path as that of the Application Directory.
Note: If you are a multi-License User, select the Run Tally License Server at Windows Startup check box.
During installation, you are prompted to specify the path and the OS files to install the Indic languages.
- Click Install Operating System Language Support to enable Language Support.
- Select your Country name is Country Selection.
- Select the Initial Startup Language from the list. When you start Tally for the first time, Tally will appear in the language selected as the Initial Startup Language (screen).
- Once you select the Initial Startup Language, Click Install to proceed with the installation.
- The installation progress startup is displayed as shown below.
- Insert Windows CD to install language or Browse for the i386 folder in your system.
Note: You will be prompted to install the i386 language support folder only if it is not available in your system.
- Click Finish to complete Setup.
After completing installation, double click Tally icon on the desktop to start working on Tally.
MULTILINGUAL FEATURE IN TALLY
Company Information
The first step to get started in Tally, is to Create a Company. The initial screen appears as shown:
The Gateway of Tally screen is separated into six sections, namely Title Area, Horizontal Button Bar, Main Area (Ctrl + M), calculator Area (Ctrl + N), Button Bar and the Bottom Pane.
The elements of the Gateway of Tally screen are explained below:
Title Area
Title Area contains the Tally Cop0ytight and Tally website link. You can access the Tally website directly from the Tally screen. You must have access to the Internet and Internet Explorer Web browser installed on your computer.
Click on the http://www.tallysolutions.com link on the top frame of the screen to enter our website. The link appears in all screen of Tally.
The Product type (Tally Gold, Tally Sliver, Tally Bronze or Educational) and Tally Serial Number appears on the upper-right corner. The software serial number is usually a unique number.
Horizontal Button Bar
The Button, Print (Alt + P), Export (Alt + M), Upload (Alt + O), Language (Ctrl + L), Keyboard (Ctrl + K) and Help (Alt + H) can be seen in the Horizontal Button Bar.
Bottom Pane
The Bottom Pane contains the Version number, Release details (every ti8me a new release of Tally is made, it is identified with a different release name like Release 3.14) and the Current Date (the date configured in the computer). The name of the day, date, month and year is displayed in DD, MM and YYYY format on the right- hand side.
System time (the time configured in the computer) appears on the lower-right corner in Hour: Seconds: Minutes (HH/MM/SS) format.
The Pate appears in the lower left corner in the Bottom pane.
Close Button
The Close Button in the upper right corner functions similar to the use of ‘Esc’ in Tally. It brings you to back to the Gateway of Tally from any screen.
Minimise Button
The Minimise button performs the standard Windows Operating System’s function (windows 95onwords), allowing you to minimize Tally and work on other applications. To restore Tally, click on the Tally icon on the taskbar.
Main Area (Gateway of Tally)
The Main Area is separated into two:
Button where a character or function key is double underlined indicates, you have to press the character or the function key along with [CTR;] key.
- F1: Press the shortcut function key [E1] to select a company.
- F1: Press [ALT +F1] to shut a company
- F8: Press [CTRL + F8] to select the Credit Note voucher
- Ctrl + M: Press Ctrl + M to access the Gateway of Tally.
- Ctrl + N: Press Ctrl + N to access the Calculator/ODBC Server frame.
Country Specific Configuration
The options available are Country Details, Style of Names, Style of Dates, Configuration of Numbers and Other Options.
Go to Gateway of Tally > F12: Configure> General
The configuration settings of Country Details, Style of Name, Style of Dates and Configuration of Numbers are self-explanatory. The prime differences are in the use of terms like VAT in Europe and Sales Tax in Asia and American that have to be configured before creating a company.
CREATING A COMPANY
Creating a Company involves providing basic information about the company whose books of accounts are to maintained in Tally.
Go to Gateway of Tally > (Alt + F3) Company info. > Create Company
Above is displayed an International Company Creation Screen. Note that the State and PIN Code fields are not available.
The screen for India/SAARC would be:
Tally does NOT restrict the number of lines for the address details. Tally accommodates all the entered information and vertically compresses the same.
Note:
- In the space provided for the Address details, observe the vertical compression as compared to the Mailing Name field where there is horizontal compression.
- You can specify any length for the mailing name and you are permitted to give any number of lines for the address. The information is completely visible.
- Tally handles compressed information correctly while printing. It adjusts the reports accordingly.
Statutory compliance for
Select the Country from the List of Countries. The Statutory Features and Base Currency Symbol are enabled in accordance with the country selected. For example, if the accounts belong to a company in India, the base currency would be Indian Rupees. The Base Currency will appear with respect to the Country selected.
Selecting India from the List of Countries brings up a State, pin code and Telephone No. field.
State
You can select the appropriate state from the predefined list.
PIN Code
Specify the PIN Code (Postal Index Number) of the specified address.
Telephone
Enter the Telephone number.
E-mail Address
Enter the E-mail address that will be used to e-mail documents, reports and data from Tally.
Currency
Currency symbol is the symbol of the base currency, that is, the currency that will be used to maintain the books of account.
The symbol Rs. appears by default for India/SAARC Companies and the field is left blank for International Companies.
Maintain
Tally displays a drop down for the Type of Company with two options Accounts only and Accounts with Inventory.
Select Accounts only if you do not have any inventory transactions (suitable for professionals and corporate offices).
However, at a later data (if required) you can choose to alter the information as Accounts–with–Inventory. Select Accounts– with – Inventory, to maintain both financial accounts and inventory.
Financial Year From
In most countries, the books of accounts of a company are maintained for a stipulated period liked, 12 months, 15 months, and so on. This stipulated period is referred to as the Financial Year.
The stipulated period of the financial year is 12 months in most countries. Tally automatically considers 12 months from the date you give here as the Financial Year.
For example, if you enter April 1, 2005 as the date, the Financial Year will be from April to March ending with March 31, 2006. If you enter October 1, 2005 as the Financial Year From then the financial year will be from October 2005 to September 2006 ending with 30 th^ of September every year.
Tally allows you to maintain data for multiple years by changing the period (Alt + F2) at the Gateway of Tally. In addition, you can also specify the date of actual establishment of th company (date of incorporation )
Books Beginning From
Name of Administrator, Password, Repeat
Assuming the Tally Vault Password and Use Security Control is set to Yes enter the Name of Administrator, Password and Repeat in the respective fields.
Use Tally Audit Features
Tally Audit allows the administrator or an auditor profile user to track changes in accounting information. If you wish to use this facility, select Yes. Tally Audit will be available only to the administrator/auditor, through Display of Statements of Accounts. It will be discussed in greater detail under the Security Control section in Administer Tally.
On accepting the company creation screen, if you have specified Tally Vault password, Tally prompts you to enter the Tally Vault password as appears:
Then Tally prompts you to enter the Name of User and Password (if any).
After verification Tally imports the latest statutory masters. Wait till the screen shows that 100% of import is complete.
This completes the Company Creation process in Tally
An explanation on the field on the bottom of the Company creation screen follows.
Base Currency Information
The Base Currency Information is found in the bottom frame of the Company creation Screen. Base Currency is the currency in which your accounts would be maintained. Financial statements are prepared in the base currency by default and these are normally required to be submitted to local statutory authorities. The Base Currency information in Tally varies with the country selected for Statutory Compliance.
You can recode transactions and raise invoices in foreign currency; and also maintain bank accounts or ledgers in foreign exchange, exchange, when required.
Base Currency Symbol
The currency symbol given earlier in the Company Creation screen is displayed here automatically.
