Comprehensive Tally Coaching with Experienced Faculty

Syllabus of Tally Prime With GST

1. Fundamentals of Accounting

↦ Introduction

↦ Terminologies used in accounting.

↦ Concepts of Accounting.

↦ Double Entry System of Accounting.

↦ Golden Rules of Accounting

↦ Recording of Business Transactions

↦ Trial Balance

↦ Financial Statements

↦ Subsidiary Books & Control Accounts

↦ Depreciation

↦ Computerised Accounting

2. Introduction to Tally Prime

↦ Introduction & Feature of Tally Prime

↦ Downloading and Installation of Tally Prime

↦ Types of Licenses in Tally Prime

↦ Activate New License, Reactivate License in Tally Prime

↦ Working Tally Prime in Educational Mode

↦ Company Creation and Setting up Company Features in Tally Prime

↦ Getting Started with Tally Prime

↦ F12 Configuration, Alter Company & Shut the Company

3. Maintaining Chart of Accounts

↦ Chart of Accounts

↦ Creation of Masters in Tally Prime

i. Creation of Masters in Tally Prime

↦ Alteration & Deletion of Masters in Tally Prime

↦ Multi-Masters Creation and Display of Chart of Accounts

i. Multi Groups & Ledger Creation

ii. Multi Stock Groups, Stock Items Creation

4. Recording & Maintaining Accounting Transactions

↦ Introduction

↦ Recording Transactions in Tally

↦ Recording Accounting Vouchers in Tally Prime

5. Banking

↦ Banking Payments

↦ Cheque Printing

i. Single Cheque Printing

ii. Multi Cheque Printing

↦ Deposit Slip

i. Cheque Deposit Slip & Cash Deposit Slip

↦ Payment Advice

↦ Bank Reconciliation

i. Manual Bank Reconciliation

ii. Auto Bank Reconciliation

6. Generating Financial Statements and MIS Reports

↦ Concept of GST

i. Trial Balance, Profit and Loss Account

ii. Balance Sheet

iii. Cash Flow & Fund Flow Analysis Report

↦ MIS Reports in Tally

i. Stock Summary Analysis

ii. Day Book

iii. Cash and Bank Book

iv. Purchase, Sales & journal Register

↦ Bird’s eye view/Drill down display from anywhere to anywhere

7. Data Security

↦ Security Control

↦ Activation of Security Control

↦ Creation of Users and Passwords for Company

↦ Accessing the company using Security Levels

↦ Auto Login & Tally Vault

8. Goods & Service Tax

↦ Introduction to GST

↦ GST in Tally Prime

↦ Creation of GST at Company Level

↦ Processing Basic Payroll

↦ Recording Transactions in GST

↦ GST Tax Payment

9. Introduction to Inventory System

↦ Inventory management

↦ Inventory masters in Tally Prime

↦ Creation of Masters in tally Prime

↦ Types of Suppliers

↦ Accounting Advanced Reciept & Sales Invoices

↦ Mixed Supply of GST Rates

↦ Compositre Supply of Good

↦ Accounting of Service Transactions

↦ Working on GST Reports

Tally Essential Level 2

1. Storage and Classification of Inventory

i. Supply Chain

↦ Inventory Management

i. Terms Used in Inventory Management.

ii. Inventory Masters in Tally Prime

iii. Company Creation in Tally Prime

↦ Tracking of Movements of Goods in Batches/Lots

i. Activation of Batches/Lots for Stock Items

ii. Batch Reports

↦ Price Levels and Price Lists

↦ Activating Price Lists and Defining of Price Levels

↦ Creation of Price List

↦ Price Level &Price List usage in Sales Voucher

↦ Revise Price List

2. Accounts Receivable and Payable Management

↦ Maintain Bill-wise Entry

↦ Activation of Bill-wise Entry

i. Usage of Bill-wise entry in Purchase and Payment Voucher

ii. Usage of Bill-wise entry in Sales and Receipt Voucher

iii. Usage of Bill-wise entry in Payment and Receipt Voucher

iv. Usage of Bill-wise entry - On Account

↦ Specifying of Credit Limit for Parties

i. Specifying Credit Limit for Individual Ledger

ii. Specifying Credit Limit for Multiple Ledger

iii. Sales Voucher Restriction Based on Credit Limit

↦ Splitting of Credit Sale into Multiple Bills

↦ Payment Performance of Debtors

↦ Bills Payable and Receivable Reports in Tally Prime

i. Bills Receivable & Ageing Analysis of Outstanding

ii. Generating Reminder Letter in Tally Prime

iii. Generating Confirmation of Accounts in Tally Prime

iv. Bills Settlement& Bills Payables

3. Purchase and Sales Order Management

↦ Purchase Order Processing

i. Recording of Purchase Order & Receipt Note Voucher

ii. Recording Rejections Out Voucher & Purchase Voucher

iii. Recording Debit Note & Payment Voucher

↦ Sales Order Processing

i. Recording of Sales Order & Sales Voucher in Tally Prime

ii. Recording Delivery Note & Receipt Voucher

iii. Recording Rejections In Voucher

↦ Order Out standings

i. Sales Order & Purchase Order Outstanding

ii. Pre-Closure of Orders

↦ Reorder Level

i. Display Reorder Status

↦ Godown Transfer in Tally Prime

4. Recording & Maintaining Accounting Transactions

↦ Cost Centre and Cost Categories

i. Activation of Cost Centre

ii. Allocation of Expenses and Incomes using Cost Centre

iii. Cost Centre Classes (Automatic Allocation)

iv. Allocation of Expenses to Multiple Cost Centres and Cost Categories

↦ Cost Centre Reports

i. Category Summary

ii. Cost Centre Break-up

iii. Ledger Break-up

iv. Group Break-up

5. Banking

↦ Creation of Budget

↦ Recording Transactions

↦ Display Budgets and Variances Reports for Group Budget

↦ Scenario Management

i. Creation of Scenario

ii. Temporary Inclusion of Reversing Journal Voucher In the Reports.

6. Generating and Printing Reports

↦ On the Fly Reporting

i. Bird’s eye View/Drill Down Display

ii. Drill Down Display

iii. Date/Period Based Reporting & Comparing

↦ Inventory Reports

i. Stock Summary

ii. Godown-wise Stock Availability

iii. Movement Analysis

iv. Stock Query

↦ Financial Reports

i. Balance Sheet

ii. Profit & Loss A/c

↦ Books & Registers

i. Sales Register

ii. Purchase Register

↦ Printing of Invoice and Report

Tally Essential Level 3

Chapter 1: Goods and Services Tax

1.1 Introduction to GST

Why GST, GST Tax Structure & Determination of Tax, GST Registration, Managing HSN CODE/SAC,GST Rate Structure, Supply of Goods and Services, Invoicing, Debit Note, Credit Note/Supplementary Invoice, Receipt Voucher, Input Tax Credit

1.2 E-Way Bill

Components of E-Way Bill, who must generate E-Way Bill, Validity of E-Way Bill, E-Way Bill Process Flow

1.3 GST e-Invoicing

Benefits of e-invoice to the businesses, Date of implementing GST e-invoicing, Entities exempted for e-invoices, Generating E-Way bill with e-Invoice, Modification of e-Invoice, Role of e-Invoice in GST Returns, Various modes of generating e-invoice, Role of IRP in e-Invoice, the practice of Generating GST e-Invoice, E-invoice Details, Invoice Reference Number (IRN)

1.4 GST in Tally Prime

Creation of Company and Activating GST, Introducing Capital into the Business, Creation of Masters in Tally Prime

1.5 Hierarchy of Calculating Tax in Transactions

Defining GST Rates at Company Level, Stock Group Level, Stock Item Level, Accounting Group Level,Ledger Level, Transaction Level

1.6 Recording GST compliant transactions

Accounting Intrastate & Interstate Supply of Goods & Services, Purchase and Sales Returns of Goods with GST, Supplies Inclusive of Tax

1.7 E-Way Bill Report in Tally

Creation of Company and Activating GST, Introducing Capital into the Business, Creation of Masters in Tally Prime

1.8 GST Tax Payment

Export for e-Way Bill Report, Exporting Bulk or Consolidated e-Way Bill invoices, Update e-Way Bill Information, Input Tax Credit Set Off against Liability

1.9 Generating GST Returns for Regular Dealer in Tally

GSTR-1, GSTR-3B, GSTR-9 – GST Annual Computation

1.10 Filing GST Returns in Tally

Filing GSTR-1, 3B, 9 Returns & Annual Computation

1.11 Generating e-Invoice in Tally Prime

Recording Outward Supply and Generating e-Invoice with & without e-Way Bill, E-Invoice Report

1.12 Quarterly Return Monthly Payment Scheme

Creation of Company and Activating GST in Tally Prime, Accounting Intrastate Supply of Goods & Services, Input Tax Credit Set Off against Liability and Tax Payment, Invoice Furnishing Facility(IFF) in QRMP scheme

1.13 Composition Dealer under GST Regime

Introduction & Conditions to be satisfied under the scheme, Accounting Intrastate and Interstate Supply of Goods, Generating GST Returns for Composition Dealer in Tally, GST Tax Payment

Chapter 2: Tax Deducted at Source

2.1 Introduction & Basic Concepts of TDS

2.2 TDS Process & Activation of TDS in Tally Prime

2.3 TDS Statutory Masters

2.4 Configuration of TDS at Different levels

Configuration of TDS at Group level & Ledger Level

2.5 Recording TDS Compliant Transactions in Tally Prime

Expenses Partly Subject to TDS, Booking Expenses and TDS deduction on crossing Exemption Limit,Accounting Multiple Expenses and Deducting TDS later, TDS on Expenses at Lower and Zero Rate, TDS on Expenses at Higher Rate & Recording Transaction when TDS Exemption limit is not crossed

2.6 TDS Payment to Department

Resolving Uncertain Transactions, TDS Outstanding, Payment of Tax to the Income Tax Department,Generating TDS Challan (ITNS 281), Interest Payment to Income Tax, Department on Delayed Tax Payment

2.7 TDS Report

Challan Reconciliation, Form 26Q, E-Return

2.11 Changes in TDS rates from 1st April 2021

Chapter 3: Management of Business Data

3.1 Exporting of data in available formats

3.2 Export and Import of Data

Export and Import of Masters & Transactions from one company to another in XML format, Exporting Reports to MS Excel, Exporting Reports to PDF

3.3 Open Database Connectivity (ODBC)

3.4 Printing of Company Logo on Vouchers, Invoices & Reports

Chapter 4: Moving to the Next Financial Year

4.1 Changing Current Period and continue voucher entry in the same company data

4.2 Company data handling through Export and Import of data

4.3 Split Company Data

4.4 Create a new company and maintain books of accounts for the new financial year

4.5 Creating Group Company Data

4.6 Comparative Final Accounts Reports of Two Companies