A budget is a plan to prepared for the flow of funds / money in an organization. It contains financial guidelines for the future plan of action for a selected period of time. By creating budgets for income, expenses, and specific projects, and comparing the actual performance with the budgeted figures, businesses can make better […]
Budget & Control in Tally Prime Read More »
“Manufacturing” is a broader concept that refers to the process of creating / producing goods through the transformation of raw materials or components into finished products. Bill of Materials (BOM): Tally Prime allows you to create and manage Bill of Materials, which is a detailed list of all the components, raw materials, and sub-assemblies required
Manufacturing Voucher or Bill of Materials (BOM) in TallyPrime Read More »
Interest calculation in TallyPrime means calculating interest automatically on outstanding receivables or payables (like overdue invoices, loans, advances). Interest can be calculated on the basis of Simple or Compound Interest , In TallyPrime, you can calculate Simple Interest easily, which is one of the simplest methods for interest calculation. You can calculate interest: Party-wise (Customer/Supplier)Â
How to Calculate Interest in TallyPrime: A Step-by-Step Guide Read More »
A Cost Center is a unit or part of your business (like a department, employee, branch, or project) where you want to track income and expenses. If your business has different departments, branches, or projects, you need a smart way to track the expenses and incomes for each one separately. Cost Center helps you know which
Cost Center Maintenance in TallyPrime: A Step-by-Step Guide Read More »
POS (Point of Sales) is a feature through which we can create an Invoice at a point of sales, and collect the payment from the customers in various method. POS (Point of Sale) means the place where a customer makes payment for goods or services at a store. it can be a reception counter
Point of Sale (POS) in TallyPrime: A Simplified Guide Read More »
A Zero Value Entry refers to any transaction in TallyPrime where the monetary value of the item or transaction is zero, i.e., no amount is paid or received, but the movement of stock, asset, or document is recorded. Zero value transaction is used when you want to pass the entry without any amount, for example
How to Record Zero Value Entries & Blank Cheque Entries in TallyPrime Read More »
Price List is a feature in Tally where you can fix the rate of an item for different groups or occasions. In business, you may want to sell the same item at different prices to different types of customers like wholesalers, retailers, or regular customers. TallyPrime offers an excellent feature to manage different pricing for
Price List and Price Level in TallyPrime: Simplified Guide Read More »
Promotional offers like “Buy One Get One Free” (BOGO) are common in sales, and managing such transactions in accounting, there are 3 important concepts to understand: Billing Quantity and Actual Quantity. These help you record sales accurately while ensuring proper stock management. Actual Quantity: This refers to the total physical quantity of the items being
Multi-Currency means the ability to record transactions in more than one currency (like Rupees, Dollars, Euros). Managing international transactions is a part of modern business. If you are buying or selling in other countries, you’ll deal with foreign currencies like USD, EUR, etc. Many businesses deal with international clients and vendors, making it essential to
Multi-Currency in TallyPrime: A Step-by-Step Guide Read More »
Purchasing items with discounts is a common transaction in business. In TallyPrime, you can enter purchase transactions while applying discounts on individual items. Discount is a reduction in the price of an item or total invoice amount. In TallyPrime, you can apply discounts in several ways: Discount entry in TallyPrime refers to recording purchases/ sales
Discount on Purchase / Sales Entries in TallyPrime? Read More »
