Tribhuvan University

Triton International College

Subidhanagar-Tinkune, Kathmandu

Accounting Lab Report

CAAC-152
Submitted By: Submitted To:
Name: Mahendra Singh Mahara Name: Hari
Roll No: 15 Triton International college
Year/Semester: - BCA ~ I/II By Tribhuvan University
Signature: Signature:

Date Of Submitted: March 25, 2022

DECLARATION

I hereby declare that the project work entitled “Tally” is a general concept of
accounting, original work done by me, and this project work is submitted in the
requirements for the award of the degree of Bachelor Second Semester. The results
enrolled in the report have not been submitted to any other university or institute for
the award of degree of BCA. I attest that all data presented in this report is accurate
and was obtained through experimentation conducted by me or under my direct
supervision.
Furthermore, I confirm that all sources used in the preparation of this report have
been appropriately cited and referenced in accordance with the guidelines provided
by the instructor. Any assistance received from individuals or sources has been
acknowledged in this report.
I understand that any act of academic misconduct, including plagiarism, will not be
tolerated and may result in severe penalties, including but not limited to, loss of
marks or course failure.
I take full responsibility for the content of this report and acknowledge that I have
read and understood the guidelines provided by the instructor.

Signed: Mahendra Singh Mahara

Date: 25-March-2023
Table of Contents

Introduction to Tally……....................................................... 1
Creation of Company……...................................................... 2
Important Features of Tally…………………….…………… 4
Ledger……............................................................................. 5
Creation of Ledger…….......................................................... 5
List of Ledger…….................................................................. 6
Posting into the Journals……................................................. 6
Receipts……........................................................................... 7
Payments……......................................................................... 8
Contra…….............................................................................. 9
Purchase……........................................................................... 9
Sales……................................................................................ 10
Trial balance…….................................................................... 11
Profit and loss account……..................................................... 11
Balance Sheet……………………………………………..…. 12
Solved Questions using Tally……........................................... 13
 Introduction to Tally software
Tally software is a popular accounting software that is widely used by businesses
and individuals for financial management. Developed by Tally Solutions Pvt Ltd, it
is a comprehensive business accounting and inventory management software that is
designed to simplify the process of financial management. Tally software was
invented by Mr. Bharat Goenka, an Indian businessman and the founder of Tally
Solutions Pvt Ltd. The company was founded in 1986 with the aim of developing
custom accounting software for businesses in India. Tally software was initially
developed as a simple accounting software, but over the years, it evolved to become
a comprehensive business accounting and inventory management software. Today,
Tally software is widely used by businesses and individuals in over 100 countries
around the world. Using Tally software can help businesses and individuals
streamline their financial management processes, increase productivity, and make
informed decisions based on accurate financial data. With its powerful accounting
and inventory management features, Tally software is an essential tool for businesses
looking to grow and succeed in today's competitive market.

1. Getting started with tally:

• Install Tally ERP 9 properly on your computer.
• Click on icon and open it.

2. Creating a company in Tally. ERP 9:

• Go to Gateway of Tally.
• In Company info we can see Create Company.
• Select it, Company creation window will appear.
• At last, the message Accept? Yes/ No will Displayed.
• Press Enter or Y to save the details.

3. Creating accounting Ledgers:

• Go to gateway of tally.
• Selects Account Info and Click on Create.
• Enter name of account and fill other data.

4. Voucher Entry:
In accounting terms, a voucher is a document containing the details of a financial transaction. For
example, a purchase invoice, a sales receipt, a petty cash docket, a bank interest statement and so

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 on. For every such transaction made, a voucher is used to enter details into the ledger to update the
financial position of the company.

5. Contra Voucher:
A Contra Entry is an entry in a business book of accounts, indicating transfer of funds from:
• Cash account to bank account
• Bank account to cash account
• One bank account to another bank account
• Go to Gateway of Tally > Accounting Vouchers> F4: Contra.

Creation of Company

Company Name: Nyaroi Company Pvt. Ltd

Mailing Address: Kathmandu Metro-32 Tinkune, Nepal
Contact No: 977-1234987605
Email: contact@nyaroi.com.np
Website: www.nyaroipvt.com.np

Steps to create company:

➢ Go to gateway of tally.
➢ Press Alt+F3 keys in keyboard.

➢ Select the options creates company in company info and enter.

➢ This display screen shows the creation section. Typing the name of
company, address, financial year begins and all other details asked by the
creation screen creates a company:

➢ You can type required information like this:

Company info

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 Select
Create Company
Alter
Change tally vault
Split company Data
Backup
Restore
Quit

➢ Finally Click Accept: “Yes” And Hit ‘Enter’.

If You Want to Create Next Company,

then Follow These Steps:

o Go to gateway of tally.

o Press ‘F3’ Button or, Click ‘Comp. Info’ Option.

o After entering company info, then you can show ‘create company’
option.

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 o Then click on it.

o After that you can easily able to create another company.

Important Features of Tally.

Alter:

One can reach alter options, pressing (Alt+F3) in the gateway of tally. This option
allows user to make modifications, change as per requirements.
Change Tally vault:

Tally vault is kind of security features built in Tally. It keeps up confidentially of

information by encrypting the data. Combinations of such formulas help to ensure
that Tally vault becomes one of the very most secure means of data storage. It also
changes password of selected company.
Split company data:

User can split company data into the time gaps by pressing (Alt+F3) in Gateway of
tally and choosing split option. This splits company data into multiple numbers of
years as per user demands. This increase flexibility in an accounting when data is
split, companies are created for respective split periods and full of data is retained in
the original company.
Backup:

Simplest way of reaching backup option is processing (Alt+F3) in gateway of tally.

Backup is process of copying data from one location to other location. To avoid data
lost on tally, one should take backup of tally data. Tally backup take on auto route
to periodically safeguard business data from accidental loss, systems crash and even
it to remote location.
Restore:

This allows to restore data of companies for which backup is done. When current
data is lost or corrupted, one can restores last backup data restores options in
company info of tally.

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 Quit:

This option allows the user to close the tally windows pressing enter or ‘y’ in the
keyboard. Otherwise, you can press ‘esc’ button to close tally window…

Ledger.
A ledger is a book or a digital record-keeping system used to track financial transactions. It
contains a complete history of all financial transactions that occur in a business or organization,
including debits and credits to various accounts. The ledger serves as the foundation for creating
financial statements, such as balance sheets and income statements, and is an essential part of
accounting.

Creation of Ledger.
To create the ledger under the tally software. You must follow these steps:
➢ After creating company, you show the window ‘gateway of tally’.
➢ Then click on ‘Accounts Info’ or, press ‘A’ button from keyboard.
➢ Under accounts info, you show ‘ledgers option’ so click on it or press ‘L’ button
from your keyboard.
➢ After that, click on ‘create’ option or press ‘C’ button from your keyboard.
➢ Finally, you show ledger creation window.
➢ Otherwise, you can create ledger through ‘Alt+C’ shortcut key.

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 ➢ After that, you Can create required ledgers list like this:

List of Ledger.
If you want to check the list of ledgers you need to follow these steps:
➢ After creating ledger, you need to return back 1 step back by click ‘esc’ button.
➢ Then you see Ledger’s window and options.
➢ After that, click on ‘Display’ option or press ‘D’ button from your keyboard.
➢ Finally, you show created ledger’s list window.

Posting into the Journals.

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 To posting anything on journal, most follow these steps:

➢ Go to Gateway of Tally > Accounting Vouchers.

➢ Click on ‘F7: Journal’ on the Button Bar or press ‘F7’.
➢ Then you can post journal like this:
Note: before creating journal, we must be creating ledgers list…. Otherwise, tally does not work…

Receipts.
Receipts are an official record that represents proof of a financial transaction or purchase. To
posting anything on Receipts, most follow these steps:

➢ Go to Gateway of Tally > Accounting Vouchers.

➢ Click on ‘F6: Receipts’ on the Button Bar or press ‘F6’.
➢ Then you can post Receipts like this:
Note: before creating Receipts, we must be creating ledgers list…. Otherwise, tally does not
work…

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 Payments.
To posting anything on Payment, most follow these steps:

➢ Go to Gateway of Tally > Accounting Vouchers.

➢ Click on ‘F5: Payment’ on the Button Bar or press ‘F5’.
➢ Then you can post Payment like this:
Note: before creating Payment, we must be creating ledgers list…. Otherwise, tally does not
work…

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 Contra.
A contra account is used in a general ledger to reduce the value of a related account when the two
are netted together. To posting anything on contra, most follow these steps:
➢ Go to Gateway of Tally > Accounting Vouchers.
➢ Click on ‘F4: Contra’ on the Button Bar or press ‘F4’.
➢ Then you can post Contra like this:
Note: before creating Contra, we must be creating ledgers list…. Otherwise, tally does not work…

Purchase.
Purchase Vouchers is used when you have to purchase some goods from any party and you get an
invoice against cash or credit purchase from the party. To posting anything on purchase, most
follow these steps:
➢ Go to Gateway of Tally > Accounting Vouchers.
➢ Click on ‘F9: Purchase’ on the Button Bar or press ‘F9’.
➢ Then you can post purchase like this:
Note: before creating purchase, we must be creating ledgers list…. Otherwise, tally does not
work…

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 Sales.
A sales voucher is a record of a sales transaction. Historically, the sales voucher was often a carbon
copy of the sales invoice given to a customer. To posting anything on sales, most follow these
steps:
➢ Go to Gateway of Tally > Accounting Vouchers.
➢ Click on ‘F8: Sales’ on the Button Bar or press ‘F8’.
➢ Then you can record sales like this:
Note: before creating sales, we must be creating ledgers list…. Otherwise, tally does not work…

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 Trial balance.
A trial balance is a summary of all ledger balances, and helps in checking whether the transactions
are correct and balanced. To creating trial balance on tally, most follow these steps:
➢ Go to Gateway of Tally > Display.
➢ Click on ‘Trial Balance’ on the Button Bar or press ‘T’.
➢ The Trial Balance appears as shown below:

Profit and loss account.

The Profit & Loss A/c is a periodic statement, which shows the net result of business operations
for a specified period. All the expenses incurred and incomes earned during the reporting period
are recorded here. To creating ‘P/L Account’ on tally, most follow these steps:

➢ Go to Gateway of Tally.
➢ Click on ‘Profit and Loss A/C’ on the Button Bar or press ‘P’.
➢ The Profit and Loss A/C appears as shown below:
➢ Click F1: Detailed to view the Profit & Loss Account in detailed format.
➢ Press F2: Period to change the period as required.
➢ Click S: Schedule VI in the Schedule VI Profit & Loss A/c.

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 Balance Sheet.
A balance sheet is a financial statement that reports a company's financial position. This report
shows the balance between the assets and liabilities of a firm. The balance sheet follows the
fundamental accounting equation: Assets = Liabilities + Owner's Equity. To creating ‘Balance
Sheet’ on tally, most follow these steps:

➢ Go to Gateway of Tally.
➢ Click on ‘Balance Sheet’ on the Button Bar or press ‘B’.
➢ The Balance Sheet appears as shown below:
➢ Press F12 to configure the Balance Sheet.
➢ Press Ctrl+A to accept.

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 Solve Question Using Tally.

Q1: Practical problem 1

Record the following transactions in Tally.

1. Robert commenced a transport business with a capital of RS 1,00,000

2. An account was opened with State Bank of Nepal and deposited RS 30,000
3. Purchased furniture by paying cash Rs 10,000
4. Goods purchased on credit from Mahendra for RS 20,000
5. Cash sales made for RS 8,000
6. Goods purchased from Rathinam for Rs 5,000 and money deposited in CDM
7. Goods sold to Rony on credit for RS 60,000
8. Money withdrawn from bank for office use RS 9,000
9. Part payment of RS 10,000 made to Mahendra by cheque
10. Rony made part payment of RS 5,000 by cash
11. Salaries paid to staff through ECS RS 6,000
12. Wages of RS 3,000 paid by cash
13. Purchased stationery from Pandian Ltd. on credit RS 4,000

Solution,
➢ First Of all, here is the list of ledgers you need to create:

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 ➢ To enter transactions through vouchers, go to

Gateway of Tally > Transactions > Accounting Vouchers

➢ Now we can record transactions like this,

1. Robert commenced a transport business with a capital of ₹ 1,00,000.

2. An account was opened with State Bank of Nepal and deposited RS 30,000.

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 3. Purchased furniture by paying cash Rs 10,000.

4. Goods purchased on credit from Mahendra for RS 20,000.

5. Cash sales made for RS 8,000.

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 6. Goods purchased from Rathinam for Rs 5,000 and money deposited in CDM (Cash
Deposit Machine).

7. Goods sold to Rony on credit for RS 60,000.

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 8. Money withdrawn from bank for office use RS 9,000

9. Part payment of RS 10,000 made to Mahendra by cheque.

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 10. Rony made part payment of RS 5,000 by cash.

11. Salaries paid to staff through ECS (Electronic Clearing System) RS 6,000.

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 12. Wages of RS 3,000 paid by cash.

13. Purchased stationery from Pandian Ltd. on credit RS 4,000.

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 ➢ To view reports:

(i) To view Trial Balance.

Gateway of Tally > Reports > Display > Trial Balance > AltF1 (detailed)

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 (ii) To view Profit and Loss Account

F10: A/c Reports > Profit & Loss A/c > AltF1 (detailed) or,
Gateway of Tally > Reports > Profit & Loss A/c > AltF1 (detailed)

(iii) To view Balance Sheet

F10: A/c Reports > Balance Sheet > AltF1 (detailed) or,
Gateway of Tally > Reports > Balance Sheet > AltF1 (detailed)

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 (iv) To view Ratio Analysis

F10: A/c Reports > Ratio Analysis or,

Gateway of Tally > Reports > Ratio Analysis

(V) To view Day Book

F10: A/c Reports > Day Book > AltF1 (detailed) or,
Gateway of Tally > Reports > Display> Day Book > AltF1 (detailed)

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