How to Use Tally

Tally 9 ERP is an accounting software that enables you to monitor and manage all your accounts, revenue, debts, and everything related to your business operations. While primarily used in India, Tally also offers a free trial. With Tally, you can track all your expenses with just a few keystrokes.

Install Tally Software. Tally 9 ERP can be purchased and downloaded from the software's official website. A 30-day trial version is available if you're unsure about long-term use. Tally 9 is only available for Windows. You can also launch Tally in Educational Mode to learn how to use the software without registering. Some features will be limited in this mode.

Navigating Tally. Tally is designed to be operated using keyboard shortcuts. While you can click on any available option, all actions in Tally come with preset keyboard shortcuts. Typically, the key combination will be displayed next to the corresponding option. Once you master the keyboard shortcuts, your productivity will increase significantly.

Creating a Company. To start using Tally, you must create a company in the program. Even if you’re not using Tally professionally, creating a company is necessary. In the initial menu, select 'Create Company'. The Company Creation screen will appear, allowing you to input the company details.

• Enter the company name as listed on the bank records.
• Provide the company address, legal structure, phone number, and email.
• Enable 'Auto Backup' to ensure all your work is saved in case of issues with the original file.
• Select the currency type.
• If you're using Tally only for account management, choose 'Accounts info' from the Maintain menu. If you're using Tally for inventory tracking, select 'Accounts with inventory'.
• Enter the first financial year and the account start date.

Understanding the purpose of a ledger. A ledger records all transactions for a particular account. You need to create a ledger for each account you manage. There are two types of ledgers: 'Cash' and 'Profit and Loss Account'. You can create multiple ledgers as needed.

• When creating accounts for other entities in the Sales or Purchase sections, the information should be categorized as Sundry Debtors, Sundry Creditors, or Branch/Divisions. You must assign the entity to the most appropriate group. For instance, a party you sell to more than buy from should be categorized as Sundry Debtors.

Opening the Create Ledger Window. Select 'Accounts Info' from the Gateway menu, then click on 'Ledgers'. You can choose to create one or multiple ledgers.

Choosing the Group. When setting up a ledger, the first task is to select the appropriate group to assign the ledger to. Picking the right group is vital because it will affect the overall totals and sales in the future. You can find the available group list on the right side of the screen.

Naming the Ledger. Enter a name for the ledger that allows you to easily identify its contents without having to open it.

Entering the Opening Balance. When setting up a ledger, you need to specify the opening balance for the account. If you are creating a ledger for a bank account, this will be the current available balance. For a ledger tracking contractor dues, the amount owed will be entered as the opening balance.

Understanding the purpose of an accounting voucher. A voucher is a document that provides detailed information about a financial transaction. Vouchers are used in all aspects of business, from sales to deposits. Tally incorporates the most commonly used voucher types, which are pre-configured for ease of use.

Open the Vouchers Page. From the Gateway menu, select "Accounting Vouchers" to access the voucher section.

Select the voucher type you want to create. A list of available vouchers will appear in the menu on the right. Choose the voucher that best fits your needs.

• Contra Voucher (F4) - Used for deposits/withdrawals at the bank or transfers between two accounts within the same company.
• Payment Voucher (F5) - Used for payments made by the business.
• Receipt Voucher (F6) - Used for all income received by the company (sales, rentals, interest, etc.).
• Journal Voucher (F7) - Used for transactions unrelated to sales/purchases, cash, or other income, mainly for adjustments or to open/close balances.
• Sales Voucher/Invoice (F8) - Used for all sales transactions conducted by the company.
• Purchase Voucher (F9) - Used for purchasing assets for the company.

Enter the required details. The information you need to fill out will vary depending on the type of voucher you are creating. Typically, you will need to specify the ledger the voucher will be linked to, along with the date and name of any involved parties.

• If you are entering purchased or sold products, Tally will automatically calculate the total based on the quantity selected.