Voucher is a document containing the details of financial transactions. There are many types of vouchers in tally prime to enter the business transactions like sales, payment, contra, purchase, Receipt, debit note, etc. Types Of Vouchers In Tally Prime Accounting 1. Accounting Voucher – for accounting Entries 2. Inventory Voucher – for inventory entries 3. …
The ultimate goal of accounting is to prepare financial statements that provide a clear picture of a business’s financial health. The two primary financial statements are: A balance sheet provides a snapshot of a business’s financial position at a specific point in time. It lists assets, liabilities, and equity. Assets are what the business owns (e.g., …
The Profit and Loss Account shows the operational results over a given period. It lists out the Incomes and Expenditures based on the Primary Groups of Tally and the Profit & Loss Account in Tally is updated instantly with every transaction voucher that is entered and saved. Step 1 Click on Profit & Loss A/c here …
When a business has more than one place to store goods (like shops, warehouses, or branches), it becomes important to track stock location-wise. In TallyPrime, this is done using Godowns. A Godown in TallyPrime is a place or location where stock is stored.It can be: A warehouse A retail shop A branch office A …
If you run a business, you buy and sell products. These products are called Stock Items in Tally. TallyPrime helps you to manage your stock/inventory, so you always know how much quantity you have, what is the rate, and how much profit you are making. 📦 For example: A shoe shop sells Shoes – …
What is Stock Item and How to Create It in Tally? Read More »
If you’re learning TallyPrime for inventory management, one of the first things you need to understand is the Unit of Measure (UOM). It’s a small but very important part of stock and inventory handling in Tally. In simple words, Unit of Measure refers to how you count or measure a stock item. Stock Items are …
What is Unit of Measure (UOM) in TallyPrime & How to Create Read More »
A Stock Category in TallyPrime helps to classify items across different Stock Groups based on common features. Stock categories is the categorization of the stock items of similar features belonging to different stock groups. Eg: If the company is dealing with Smartphones. The company’s inventory might consist of Smartphones of different brands like Samsung, …
A Stock Group in TallyPrime is used to classify similar stock items under a common category. Just like Ledger Groups for accounts, Stock Groups are for inventory items. Example: Let’s say you run a computer accessories store. You can group stock items like this: Stock Group: Keyboards Stock Items: Dell Keyboard, Logitech Keyboard …
What is Stock Group in TallyPrime? How to Create a Stock Group Read More »
Deleting a ledger in Tally Prime is a simple process, but it should be done with caution as deleting a ledger will also delete all the transactions associated with it. 1. Open Tally Prime and go to the Gateway of Tally. 2. Click “Alter” and then select “Ledgers.” 3. Select the ledger that you want …
Alter a Ledger” in TallyPrime means editing, correcting, or updating any existing ledger after it has been created. You can: Change the name of the ledger Correct the group under which it was created Add or edit the opening balance Update the GST number, PAN, or bank details Add a mobile number, address, or …
