The concept of employee categories in tally is used to classify employees based on certain criteria or characteristics. Employee categories are created to group employees together for easier management and to define common payroll parameters for a specific group of employees. You can create employee categories based on your organization’s requirements. For example, you might […]
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Payroll is one of the most critical components of Human Resource Management (HRM). It refers to the process of calculating and distributing wages and salaries to employees for their work during a specific period. A Payroll Master is a comprehensive system or database that stores all the necessary employee-related information required for salary calculation. Once
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A blank cheque is one where the payee and amount fields are left empty by the drawer. Recording such cheques is crucial for tracking and ensuring transparency in your accounting records. Issuing cheques for payments or receiving them as part of your transactions, keeping a record of cheques, especially blank cheques, in your accounting
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Bank Reconciliation Statement also known as BRS. Bank reconciliation is a process of matching entries (e.g. customer payments, receipt, bank fees etc.) on the company’s tally books with the corresponding data on its bank statements. Using BRS companies can confirm that the company’s records are correct or not. Bank reconciliation is a vital accounting process for
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This assignment focuses on understanding and practicing the Contra Voucher Entry in TallyPrime. Contra vouchers are used when there is a transfer of cash or bank funds between two accounts. For instance, when cash is deposited into the bank or withdrawn from the bank to cash. Assignment No 1Â Bank Details Name : HDFC Bank
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Recording and maintaining cancelled cheque details in TallyPrime is essential for accurate financial management. Whether cancelling an already issued cheque or maintaining records for voided cheques during issuance, TallyPrime offers a straightforward approach to handle these tasks. In business operations, it’s common to cancel cheques due to errors, void transactions, or other reasons. TallyPrime allows
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Printing cheques directly from TallyPrime can save a lot of manual effort and reduce the risk of errors in writing cheque details. Whether you are issuing payments to suppliers, employees, or other parties, TallyPrime’s cheque printing feature makes the process quick, accurate, and professional. Happy accounting with TallyPrime! Create Ledger Click on Vouchers Payment
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 Bank ledgers can be used to record bank deposits, withdrawals, transfers, and other bank transactions. By maintaining a bank ledger, businesses can keep track of their cash flow and reconcile their bank statements. In Tally Prime, a bank ledger is a master record that is used to record all financial transactions related to
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A Credit Note Voucher is used to record transactions where a business gives credit to a customer, which helps record returns or adjustments when goods are returned by customers, discounts are given, or any other credit adjustment is required. In TallyPrime, Credit Notes help record sales returns or adjustments in receivables from customers. Credit note
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A Receipt Voucher in TallyPrime is used when you receive money from customers, banks, or any other source. It helps record cash, cheque, or online transactions accurately. Receipts are an official record that represents proof of a financial transaction or purchase. Receipts are also important for tax purposes as proof of certain expenses. TallyPrime is a powerful accounting
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