TallyPrime is a powerful and easy-to-use business accounting software developed by Tally Solutions Pvt. Ltd. It is designed to manage everything from accounting, inventory, taxation, payroll, banking, invoicing, and more — all in one place. TallyPrime is the latest version of Tally ERP 9 with enhanced features and a more user-friendly experience. It simplifies accounting, …
Bank interest is a common part of accounting, and understanding how to calculate it and record it properly in accounting software like TallyPrime is essential for accurate financial tracking. Bank interest is the money you earn from the bank when you deposit funds into an interest-bearing account (like savings or fixed deposit accounts). Banks pay …
How to Calculate Bank Interest and Record It in TallyPrime Read More »
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 For instance, when cash is deposited into the bank or withdrawn from the bank to cash. This assignment focuses on understanding and practicing the Contra Voucher Entry in TallyPrime. Bank Details Name : HDFC Bank A/c No …
Banking Transaction Assignment – TallyPrime Tutorial Read More »
Backing up your company data in TallyPrime is an essential practice to ensure the safety of your financial records. Regular backups protect your data from unexpected issues like system crashes, corruption, or accidental deletions. By following this guide, you can ensure that your data is secure and recoverable in case of any unforeseen issues. Make …
The Gateway of Tally is the main screen that appears when you open TallyPrime. It acts as a control center, allowing users to navigate various functions such as accounting, inventory management, payroll, and GST filing. Masters: The “Masters” section in Tally is where you create and manage master data. Master data refers to the …
Gateway of Tally Explained – TallyPrime Tutorials Read More »
GST registration is mandatory for most businesses in India. It involves obtaining a unique Goods and Services Tax Identification Number (GSTIN) from the tax authorities. Once registered, businesses can legally collect GST from customers, claim Input Tax Credit (ITC), and file GST returns Why is GST Registration Important? Legal Requirement: Businesses with a certain …
GSTR-2, or the Goods and Services Tax Return-2, is a report that businesses in India need to file under the GST (Goods and Services Tax) regime. Unlike GSTR-1, which focuses on outward supplies made by a registered taxpayer, GSTR-2 deals with inward supplies, i.e., purchases made by the taxpayer during a specific tax period. …
GST R1 Return is an important filing under the Goods and Services Tax (GST) system in India. If you are a business owner registered under GST, you must file this return to report your sales (outward supplies) every month or quarter. GSTR 1 is a monthly, or quarterly GST returns filing form that all taxpayers …
What is GSTR-1? GSTR1 Return Filing in TallyPrime Read More »
Round Off in TallyPrime is used to adjust small decimal differences in the invoice total. It helps in making the final amount whole or clean, especially when tax and discount calculations lead to amounts like ₹10,542.53. For example: Invoice Total = ₹10,542.53 Rounded Off = ₹10,543.00 Round Off Amount = ₹+0.47 (automatically adjusted by …
A Post-Dated Voucher is a voucher (like Payment, Receipt, Journal, etc.) that is entered today but is dated for a future date. It does not affect your books of accounts or reports until that future date arrives. Post-dated vouchers help you plan and schedule transactions for future periods, making it easier to manage your finances, and they are typically associated with cheques, payments, …
