AN ORGANISATIONAL STUDY AT

STANDARD CHEMICALS

Submitted To
CHITKARA BUSINESS SCHOOL
In partial fulfillment of the requirements for the award of degree of
Bachelor of Commerce 2021-2022

Submitted By: Supervised By:

Pritam Sharma Miss Baljinder Kaur
2120991568 Chitkara University
B.Com Hons. (Z)
 INTERNSHIP OFFER LETTER

Addressed Chitkara business school of Administration

Internship Offer Letter
Mr. Pritam Sharma (Name of student) and University Roll Number 2120991568 is a S/0/D/o of Pavan
Sharma B .com(H) Chikara business school, Chitkara university, has been offered internship/on the
job training in our company for a duration of 7 weeks. The student has been assigned the role and
reporting as follows:
Duration from - 09 May, 2022 to 30 June, 2022
* Reporting manager Mr. Shaym Kumar
Roles and Responsibilities
• Purchase and Sales Bill
• E- Way Bill
• Ledger Maintains
➢ Location of work – Dera Bassi
➢ Stiped/Incentive offered : Unpaid

Company HR/Manager
 INTERNSHIP COMPLETION CERTIFICATE

This is to certify that Mr. Pritam Sharma and 2120991568, S/o Pawan Sharma, a student of B. Com
(Honours) Batch 2021-24 in Chitkara Business School, Chitkara University, has been on internship/on the job training
under my guidance & supervision.

His/her performance report is as follows:

- Duration of Internship: From 9-May-2022 to 30-June-2022

* Department under which student worked: Finance department

• Role/designation Assigned.
• Purchase and Sales Bill
• E- Way Bill
• Ledger Maintains
* Results : Satisfactory

Brief write up - Pritam Sharma is confident and self-learning individual. He performed well with tasks assigned and
was able to take multiple responsibilities He worked directly with founder of the firm and showed a good potential
for leadership skills

* Final Rating of the Intern outstanding

CEO OF THE FIRM

Date: 01/July/2022
 DECLARATION ON AUTHENTICITY OF REPORT

I, Pritam Sharma, hereby declare that the work presented herein is genuine work done
originally by me and has not published or Submitted elsewhere. Experience is accurate and that I
worked in the company for the duration given in the certificate. Any literature, data or work done
by others and cited in the report has been given due acknowledgement and listed in the reference
section.

PRITAM SHARMA

20209911568
 ACKNOWLEDGEMENT

I thank to the management of Standard Chemicals Company for allowing me to take internship
program in their organization. I express my sincere gratitude to my project guide Miss Baljinder
Kaur who has been very kind and considerate by providing me an opportunity to get comments
with the company. I am very thankful to be learning and mutually beneficial experience has
helped me immensely in completing my project successfully.

I express my humble regard to hon'ble Dean of Chitkara Business School. Through this
internship I get to know about various types of people and got to learn many innovative things.

I would also thank my internship guide Miss Baljinder Kaur who was always ready to support
me in every matter.
 TABLE OF CONTENT

➢ Introduction
➢ Features of tally prime
➢ Tally prime benefits
➢ Creation of company
➢ Entries of purchase bill
➢ Entries of sales bill
➢ How To Generate E-way- bill
➢ Conclusion
 INTRODUCTION

Tally is powerful accounting software, which is driven by a technology called concurrent multi-
lingual accelerated technology engine. It is easy to use software and is designed to simply
complex day to day activities associated in an enterprise. Tally provides comprehensive solution
around accounting principles, inventory and data integrity. Tally also has feature encompassing
global business. Tally software comes with easy to use interface thus making it operationally
simple.

Tally accounting software provides a solution around inventory management, stock management,
invoicing, purchase order management, discounting, stock valuation methodology, etc.

Tally is user-friendly accounting software that facilitates various kinds of accounting solutions in
a simplified format. It was developed by late S.S. Goenka in 1986 and launched by
Bharat Goenka in 1988. Tally’s use is to record daily business transactions like sales, purchases,
received payments, taxation, etc. It is a product of Peutronics Pvt. ltd, now known as Tally
solutions. Pvt. Ltd. This company is an Indian multinational company and specializes in
Enterprise Resource Planning (ERP) software. The location of the headquarter of the company in
Bengaluru, Karnataka. By far, it is serving as the best accounting package software. Almost
every industry and enterprise are using Tally for the management of their account. The company
keeps improvising and updating the previous versions and launches the new versions of Tally. 

The first-ever launched version of Tally was- Peutronics Financial Accountant, an MS-DOS
application that served only the essential functions of Accounting. In contrast, the latest version
is Tally Prime, which has many features to offer a growing business. Tally Prime is a new era
tool to handle Accounting, Inventory Management, Manufacturing Process, Payroll and
Statutory Compliance, Budgets and Scenarios, Point of Sale, MIS Reports, and Audit.

Tally accounting software also comes with drill down options, which can track every detail of
transaction. It helps in maintaining simple classification of accounts, general ledger, accounts
receivable and payable, bank reconciliation, etc.
The technology employed by tally makes data reliable and secure. Tally software supports all the
major types of file transfer protocols. This helps in connecting files across multiple office
locations.

Tally accounting software is capable of undertaking financial analysis and financial management.
It provides information around receivables turnover, cash flow statement, activity consolidation
and even branch accounting.

Tally accounting software is east to set up and simple to use. A single connection can support
multiple users. It can be easily used in conjunction with the Internet making possible to publish
global financial reports.

Tally accounting software can seamlessly connect with various Microsoft applications.
 FEATURES OF TALLY PRIME
Tally Prime is becoming essential in the companies for the features and benefits it offers. It is a
fast, reliable, flexible, and simple software that makes you more efficient and your work
manageable. The features of Tally Prime are:

Generation of Invoice– With Tally Prime, one can generate GST invoices like tax invoices or e-
way bills. Not only this, one can add the company logo to the invoice, print it, and email it.

Multiple Formats for Billing: Tally now has various formats for keeping records and
generation of bills. One can choose the one suitable for the company out of the different
formats.

Change view option: This option helps in viewing a single report in other alternative ways. This
gives us related and better insights into the report.

The Go-To feature: A new feature is now available in the top menu. This “Go-To” feature helps
in navigating the required data or report.

Special reports: This option has a list of reports that stand out in the data and require immediate
attention.

Multiple Price Level: The price reports are available at different levels, e.g., Wholesaler,
customer, etc. Moreover, one can add the information about the discount applied in the price
lists.

Multiple addresses: The company can add different addresses (Branch address or factory
address) for mailing and ledgers. The company can use these addresses later on according to the
requirement.
 TALLY PRIME BENEFITS

Easier Navigation: The new Go-To feature helps in getting more comfortable access to the
business data. It works like the search feature of any other web page.

Multi-tasking made easier: The top menu has options like Import, Export, Email, and Print.
These options help in performing other operations without leaving the task in progress.

Insightful report Generation: It is now easier to generate reports according to the needs as
more actions are available against each report. One can get access and print the report
accordingly.

Simplified Data Management: The addition of details in any report can be done by clicking of
“More Details” option, thus making the work precise and less time-consuming.

Secure and Fast Payments: Tally Prime enables e-payments to the banks, which is much more
comfortable and safer than the traditional payment method.

Easy Migration from the Previous Version: Tally Prime allows easy migration of data and
reports from the Tally ERP 9. All you need is an update of the License.
Ease of Usage: Along with better multi-tasking, Tally Prime provides the functionality of global
keys like Ctrl+C and Ctrl+V for the functions.

Maintaining your business transactions on a day-to-day basis is critical to your business. To keep
a record of all your business transactions, you need to first create a company in TallyPrime.
Through the company, you can also view and update all your transaction entries, as needed, and
go through the financial reports based on the transactions that you maintain.
CREATE COMPANY
To create the company, just enter the company name, address and other details, such as financial
year, security, and base currency information. Once you have created your company, based on
your business preferences, you can use the accounting, inventory, payroll, and taxation features.
You can also specify the tax registration details as applicable, such as GST, VAT, Excise, TCS,
or TDS, which can be accounted for your transactions.

Security: All the business transactions that you maintain in the company remain safe. You can
enable additional security options for your company to prevent unauthorised access to your
transaction records.

If you have more than one user accessing your company, you can set up security for each user
based on their roles.

You can create an account in TallyPrime for each user. Based on the user’s roles, you can access
to the tasks the user can perform. For more information, click here.

Multiple companies: Do you have more than one business? If yes, you can create multiple
companies in TallyPrime, maintain transactions separately for each business, and also manage
the returns for each company accordingly.

Group company: If you are maintaining multiple companies, you can get a consolidated view of
such business reports by using the Group Company feature. Viewing the financial reports
separately for each business and consolidating the accounts manually can be a tedious task.

Once you have set up your company in TallyPrime based on your business requirements, you can
record and manage your day-to-day transactions, and track them – even remotely.
CREATE A COMPANY TO RECORD BUSINESS TRANSACTIONS

You need to create a company to keep record of all your business transactions and view related
financial reports. To create the company, just enter the company name and address and update
other details, such as contact and financial year information.

In this section

Create a company

➢ Set Company Features

➢ Load the company
➢ Create a company
➢ On launching TallyPrime, select Create Company.

If you already have one company open and would like to create another
company, press Alt+K (Company) > Create.
PROVIDE THE COMPANY DETAILS

Enter the Name, Mailing name, and Address. For more information, click here.

Note: By default, your company data will be saved in the location specified under Company Data
Path, which is the same as the folder where TallyPrime is installed. For more information on
configuring your data path, refer to Manage Your Company Data.

Enter the State, Country, and other contact details. A sample image is shown below. These
details can be printed on your invoices, if needed. For more information, click here.

Accept the screen. As always, you can press Ctrl+A to save the details and create the company.
You can set up the remaining company details (steps 3 and 4 below) anytime later.

Note: The name of new union territory Dadra & Nagar Haveli and Daman & Diu is provided in
Release 6.6.3. All masters with Daman & Diu and Dadra & Nagar Haveli are automatically
updated with the name of new union territory. The state/union territory name before merger is
captured in State (before reorganisation) field. Retaining the pre-merger state/union territory
name helps in managing transactions and tax returns from that period.
SET UP FINANCIAL YEAR DETAILS AND SECURITY OPTIONS

Financial year beginning from: TallyPrime pre-fills this field based on the date settings of your
computer and the Country selected in the Company Creation screen. For more information,
click here.

Books beginning from: By default, TallyPrime fills this field with the Financial year beginning
from date. You can update this, as needed. Say you started your business and have maintained all
business transactions since 1-Oct-2020. You can update the Books beginning from date to 1-Oct-
2020, while the financial year will be 1-Apr-2020.

Security: This is optional. You can enable security features such as TallyVault and User controls
for your company anytime later.

If you do not see the Security option, press F12 (Configure): > set the following options to Yes:

USE TALLY VAULT PASSWORD TO ENCRYPT COMAPNY DATA

User Access Control

For more information, click here .

Specify the Base Currency Information .
You can set up the base currency depending on the currency used in your business to record
transactions.

To view all the options related to base currency, press F12 (Configure) > set Provide Additional
Base Currency details to Yes.

If your business includes transactions in multiple currencies, refer to the Multi-currency topic.

Accept the Company Creation screen. As always, you can press Ctrl+A to save.

Saving the company takes you to the Company Features screen, which displays that the company
is created successfully.
 Generate Purchase Bills
Record a cash bill or invoice when you make an instant payment to the supplier, using cash or
any other mode like cheque or credit/debit card. If it is purchase on credit, record a credit
purchase by using the supplier ledger. There are also situations when you want your supplier to
deliver goods to a specific location that is different from your billing address. TallyPrime
handles all such needs of recording purchases and more.

Open The Purchase Voucher Screen.

Gateway of Tally > Vouchers > press F9 (Purchase).

Alternatively, press Alt+G (Go To) > Create Voucher > press F9 (Purchase).

Press Ctrl+H (Change Mode) to select the required voucher mode (Item Invoice, in this case).
Specify The Supplier Details.

Supplier Invoice No. and Date: The invoice number and date should be the same as given in
the corresponding sales bill.

Party A/c name: Select Cash or Bank for cash purchases. For credit purchases, select the
supplier ledger.

Party Details: Enter the supplier’s name and address, if needed.

If you do not see the Party Details screen, press F12 (Configure), and set Provide Receipt,
Order, and Import details to Yes.
Note: You may want to maintain specific details about your suppliers, such as address with
landmark, alternative contact number, and so on, in the invoices. In such cases, you can
create party ledgers with the required details. In the Suppliers field of Party Details screen,
select the required ledger.

Purchase ledger: Select the accounting ledger to allocate the stock items.
If you do not see this field on the screen, press F12 (Configure) and set Select common
Ledger Account for Item Allocation to Yes. In Accounting Invoice, you can select the

purchase ledger under Particulars .

Provide The Stock Item Or Service Details.

As in other transactions, you can create the item or ledger on the fly by pressing Alt+C.
In Item Invoice, select the stock item, enter the Quantity. The Rate will be auto-filled, if
available for the stock item. However, you may choose to enter the Rate or Amount.
In Accounting Invoice, select the service ledger and enter the Amount.

Select additional ledgers, like transportation charges, insurance, or discount, if any.

Provide Narration, if needed, and accept the screen. As always, you can press Ctrl+A to save.

What you see on the screen can vary based on your choices. Press F12 (Configure) to change
the options and F11 (Features) to enable or disable features.

Print The Invoice.

Press Alt+P (Print) > press Enter on Current.

Press I (Preview) to check the invoice before printing, if needed.

Press P (Print) to print.

The following is a sample preview screen of the purchase invoice.

Generate sales bills: Record a cash bill or invoice when the buyer makes an instant payment
using cash or any other mode, like cheque or credit/debit card. If it is sales on credit, record a
credit sale by including the party.

Print invoices: For each sales transaction, the buyer will require a copy of the invoice. At times,
you may want to include specific item or service details when you print the invoice, such as
configuration of a laptop, motor capacity of an appliance, warranty offered on the item, and so
on. Additionally, the buyer may ask for delivery of goods to a specific location. Therefore, you
will need to print the delivery address separately on the invoice. TallyPrime handles all such
invoicing needs and more.

Record additional charges, discounts, and free items: Your sales transaction may also include
additional expenses, such as transportation charges, insurance, discounts, and taxes. Depending
on your business practice, you may need to apply discounts on each item or on the total invoice
amount. Similarly, if you give free items to your buyers at times, or send samples to a customer,
all of these can be recorded and tracked in TallyPrime.

Reports: You can track all the sales bills recorded in TallyPrime using different reports, such as
Sales Register, Day Book, and so on. You can view your sales across different periods, filter the
data for specific details, configure the reports to view more sales-related details and more.
Record Sales of Goods

For recording sales of goods, you can select cash or bank for cash sales and party ledger for
credit sales. You can record sales of goods or items using the Item Invoice mode. TallyPrime
provides other modes such as Accounting Invoice mode and As Voucher mode for recording
sales of goods or services. You can use the other modes of the voucher interchangeably for
recording sales, based on the requirement.

As per your business practice, you can print all the invoices with the necessary details.

Open the sales voucher screen.

Gateway of Tally > Vouchers > F8 (Sales).

Alternatively, press Alt+G (Go To) > Create Voucher > press F8 (Sales).

Ensure that the voucher mode is set to Item Invoice mode by pressing Ctrl+H (Change Mode), or
you can also confirm the same if you see Name of Item on the voucher screen.

If you want to enter the Reference No. and Date for the invoice, press F12 (Configure), and
set Provide Reference No. and Date to Yes.

If you do not see this option, set Show more configurations to Yes.
Specify the buyer details.

Party A/c name: Select Cash or Bank for cash sales. For credit sales, select the party name.

Party Details: If you need Dispatch, Order, or Buyer details to be part of your invoice, provide
the relevant details.

If you do not see the Party Details screen, press F12 (Configure), and set Provide Dispatch,
Order, and Export details to Yes.

Dispatch & Order Details: You can print these details in the invoice for the buyer’s reference. If
you already have a Delivery Note or a Sales Order, the Delivery Note Number and the Order
Number are pre-filled.

Buyer’s Details: In the case of cash sales, specify the buyer’s details as needed in the printed
invoice.

Note: Your regular customers may need specific details, such as address with landmark,
alternative contact number, and so on, to appear in the invoices they receive. In such cases, you
can create party ledgers with the required details, such as Address, State, and so on. In the
Buyers field, select the required ledger.

As always, you can press Ctrl+A to save and proceed.

Select the accounting ledger to allocate the stock items.

For Item Invoice, select the Sales ledger.

If you do not see this field on the screen, press F12 (Configure) and set Select common Ledger
Account for Item Allocation to Yes.

Set this option is No, to allocate sale of each item to different accounting ledgers, if needed.

Provide stock item details.

As in other transactions, you can create the item or ledger on the fly by pressing Alt+C.

For Item Invoice, select the stock item, enter the Quantity. The Rate will be auto-filled, if
available for the stock item. However, you may choose to enter the Rate or Amount.

Select additional ledgers, like transportation charges, insurance, or discount, if any.

Provide Narration, if needed, and accept the screen. As always, you can press Ctrl+A to save.
Process of E-Way Bill

Step 1: Login to the eway bill system.

Enter the Username, password and Captcha code, Click on ‘Login’.

Step 2: Click on ‘Generate new’ under ‘E-waybill’ option appearing on the left-hand side of the
dashboard.

Step 3: Enter the following fields on the screen that appears:

1) Transaction Type: Select ‘Outward’ if you are a supplier of consignment Select ‘Inward’ if
you are a recipient of consignment.

2) Sub-type: Select the relevant sub-type applicable to you: If transaction type selected is
Outward, following subtypes appear:

If transaction type selected is Inward, following subtypes appear:

3) Document type: Select either of Invoice / Bill/ challan/ credit note/ Bill of entry or others if
not Listed

4) Document No. : Enter the document/invoice number

5) Document Date: Select the date of Invoice or challan or Document. Note: The system will not
allow the user to enter the future date.
6) From/ To Depending on whether you are a supplier or a recipient, enter the To / From section
details.

7) Item Details: Add the details of the consignment (HSN code-wise) in this section:

Product name

Description

HSN Code

Quantity,

Unit,

Value/Taxable value

Tax rates of CGST and SGST or IGST (in %)

Tax rate of Cess, if any charged (in %)

8) Transporter details: The mode of transport(Road/rail/ship/air) and the approximate distance

covered (in KM) needs to be compulsorily mentioned in this part. Apart from above, either of the
details can be mentioned:

Transporter name, transporter ID, transporter Doc. No. & Date.

Step 4: Click on ‘Submit’. The system validates data entered and throws up an error if any.

Otherwise, your request is processed and the eway bill in Form EWB-01 form with a unique 12
digit number is generated. The eway bill generated looks like this:

Print and carry the eway bill for transporting the goods in the selected mode of transport and the
selected conveyance.
You can print the E-way Bill anytime as follows:

Step-1: Click on ‘Print EWB’ sub-option under ‘e-Waybill’ option

Step-2: Enter the relevant eway bill number -12 digit number and click on ‘Go’

Step-3: Click on ‘Print’ or ‘detailed print’ button on the EWB that appears:

ClearTax offers a wide range of services in GST compliances such as Invoicing, Preparation and
filing of returns and the latest addition to this list is preparing and generating ‘E-Way
Bill’. ClearTax EWayBill helps you:

Avoid multiple login for separate States & Branch level Access control by providing users with a
centralised login for EWB generation

Accurately estimate distance for e-way bill validity via inbuilt distance calculator with an option
to edit also.

Bulk update Transporter details for the documents issued without punching data again

Avoid errors through in-built validations, improved User experience and Intelligent Reports.
 CONCLUSION

To reiterate this temporary job has been a splendid and compensating foundation. I have
had the alternative to meet and work with such countless people that I am sure it will help
in opportunities for me later on .

One essential worry that I have learned through this temporary job is time the load up
aptitudes just as self-motivation. When I recently started I didn't feel that I would have
been prepared to cause myself to sit in an office for eight hours consistently, five days
seven days. When I comprehended what I expected to do I formed my day and work with
the objective that I was not covering or wasting my hours. I found that I expected to b
dealt with and have questions arranged for when it was the perfect time to get analysis.
From this entry level position and time the administrators I expected to make sense of
how to influence myself through being in the working environment for such a noteworthy
number of hours. I thought of various suggestion and considerations that the association
is investigating its employments.
 REFERENCES: -

https://help.tallysolutions.com/article/Tally.ERP9/
https://docs.ewaybillgst.gov.in/
https://www.business-standard.com

https://www.google.co.in/imghp?hl=en&tab=wi&ogbl