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Learn Best Business Accounting Softwares Tally.ERP9 and TallyPrime
Recording Purchase under GST in Tally Prime Purchase of goods or services is one of major event in a business. Purchase can be either on cash or on credit. Many transactions are involved to complete the purchase process can be, items bought, payments made, goods returned, and so on. Tally Prime, enables to record all these … Read more
Account Groups in Tally Prime Account Groups in Tally Prime are collection of ledgers of the similar nature. Account groups are helpful in maintaining and determining the hierarchy of Ledger Accounts. Groups are particularly helpful in creating compliant reports. At the highest level, accounts are classified into Capital or Revenue – and more specifically into … Read more
Charts of Accounts in Tally Prime After Installation and activation of TallyPrime license, a new user needs to create a Company to record your business transactions. To Create Company in TallyPrime Create>Company or from the Gateway of Tally> Select Create Company. Enter the Company Name, Mailing Name, and Address.While Company Name is for reference in the application, Mailing Namewill … Read more
TallyPrime Installation and Download TallyPrime is a all new business management software for SMEs by Tally Solutions. It is a best business management software to manage transactions related to accounting, inventory, banking, taxation, and payroll etc. TallyPrime Installation is as simple as 1,2,3…… Before jumping in to installation, let’s have a look on its features. … Read more
REVERSE CHARGE MECHANISM -RCM Under normal circumstances, the supplier of goods or services collects the tax and pays it to the Govt. But in case of Reverse Charge mechanism , the receiver becomes liable to pay the tax to the Govt., which means the chargeability gets reversed. Reverse charge mechanism is a mechanism where the … Read more
Order Processing in Tally.ERP 9 Order Processing is a process followed by businesses for smoother transactions, timely delivery / services and intime receipt of payments. Before getting into the sales/purchase, both the parties agree upon terms and conditions for pricing and delivery and payments/receipts, which helps in resolving after sales issues amicably or legally. Tally.ERP … Read more
Multiple GST and Interstate Sales invoice in Tally.ERP9 As per GST mandate, printing of a valid sales invoice/ GST tax invoice should have party’s GST registration, location, item details (HSN or SAC), and tax rates. Sales Invoice can be Single GST rate or multiple GST Rate invoice. In multiple GST Tax invoice you can include … Read more
Discounts in Sales Invoices in Tally.ERP9 In the day to day business , to increase the business volume, attract more customers, often discounts are offered. The Discount is a special allowance or concession in price of a product or service. Discounts in sales invoices can be given on products or services. Discounts in sales invoices … Read more
GST Invoice Format in Tally.ERP9 Tally.ERP9 is a comprehensive accounting software which is industry standard GST ready. The transactions which involve in the sales of goods or services need to be entered in GST Invoice Format. Since GST Invoice has to be handed over to customer hence it is mandatory for a business to get … Read more
Voucher Entry in Tally.ERP 9 All the financial transactions are recorded in a document called a voucher. Voucher entry is required for recording the same into the books of accounts. For every transaction, you need to enter an appropriate Tally voucher to get the same posted into the particular ledgers and finally to update the … Read more