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Employee Salary Calculation — Formulas, Pay-Heads & Worked Example

Why salary structure matters A well-planned salary structure does three big things: Statutory compliance – meets laws on PF, ESI, income-tax, professional-tax, gratuity, bonus, etc. Tax optimisation – splits pay into taxable and tax-free/reimbursable heads so employees take home more without raising company cost. Cost transparency – breaks “Cost-to-Company (CTC)” into fixed, variable and long-term …

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TallyPrime Assignment 4: Inventory Master Create

This assignment is designed to help you understand the Inventory Module of TallyPrime. You will learn how to manage stock by creating stock groups, categories, units, godowns, and stock items. Proper inventory setup is crucial for businesses involved in trading, manufacturing, and distribution.   Inventory Tasks Overview In this assignment, you will complete the following: …

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TallyPrime Assignment 3: Journal Entries in Accounting

A Journal Entry is the first step in the accounting cycle. It records all financial transactions in the books of accounts in chronological order using the double-entry system. Each transaction has: At least one Debit At least one Credit Equal amounts on both sides   Golden Rules of Accounting Journal entries follow these three Golden …

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TallyPrime Assignment No 2 – Ledger Master Creation with Example

In this assignment, you will learn how to create various types of Ledgers in TallyPrime, which are essential for recording transactions. You will create 30 ledger accounts with correct group classifications and mention whether the amount is Debit (Dr) or Credit (Cr). This practical exercise will help you understand how to categorize ledger entries properly …

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TallyPrime Assignment No. 1 – How to Create, Alter, and Delete Company in Tally

Overview This is the first assignment for students learning Accounting and TallyPrime. In this task, you will learn how to create, alter, delete, and select companies in TallyPrime. These are the foundational skills every accountant must master to work efficiently with TallyPrime software. This assignment is designed and provided by Ankit IT Solutions – a …

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500+ MCQs Questions and Answers on Accounting & TallyPrime with Highlighted Answers

100+ MCQs Questions and Answers on Accounting & TallyPrime with Highlighted Answers 1.Which of the following is an example of an asset? A. Accounts Payable B. Capital C. Cash D. Sales 2.Which account is a personal account? A. Debtors B. Rent C. Machinery D. Wages 3.Which of the following is shown on the credit side …

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How to Alter Group of Ledgers in TallyPrime?

In TallyPrime, Ledger Groups help organize accounts properly. Sometimes after creating groups, you may need to edit or correct them. That process is called altering group of ledgers. Alter Group of Ledgers” means to edit, rename, or change any details of an existing ledger group in TallyPrime. You may want to change: The group name …

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Purchase Voucher with Stock Item – TallyPrime Purchase Voucher

Purchase with Stock Item   Step 1- Click on Create Create Required Ledger for Make Voucher Entry like Party Name, Purchase or Other If Already done that’s great – for create new click on ledger Enter your your ledger information like name, under group and related info   Now Create inventory master like stock group, …

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