Course description

Tally Prime is a one-stop business management software that caters to all your business requirements - from accounting and invoicing to inventory management, insightful business reports, and cash flow management, thereby improving business efficiency.

What you'll learn

• Accounting & Smart Accounting
• Inventory Management
• Sales and Invoicing
• sales & Purchase Management
• Multi-currency
• Payroll
• GST/ TDS/ TCS

Program details

1

Introduction. Getting started

Tally software is used to keep detailed records of all company transactions for each account. Tally has simplified computations. Tally has become an integral feature of all enterprises. Small businesses feel that Tally software facilitates efficient business transactions, delivers accuracy, and saves time.

2

Accounting & Smart Accounting

Accounting is the process of recording financial transactions pertaining to a business. The accounting process includes summarizing, analyzing, and reporting these transactions to oversight agencies, regulators, and tax collection entities.Smart Accounting is a web-based account management software for small and medium scale enterprises and startups. It helps manage a company's balance sheet in real-time, and reflects the transactions on multiple accounts.

3

Inventory Management

Inventory is an idle stock of physical goods that contain economic value and are held in various forms by an organization. Inventories are held in various forms, it can be a stock awaiting packing, processing, transformation, use or sale in a future point of time. Inventory represents an important asset on a company's balance sheet and is managed carefully to ensure optimal levels for operational efficiency while minimizing costs and risk of stockouts.

4

Sales and Invoicing

A sales invoice is an accounting document that businesses issue to customers and clients to record sales transactions and request payment. Sales invoices outline the goods and services provided, with transaction dates, confirmation of money owed, taxes payable and other key information.

5

sales & Purchase Management

Sales Bill reflects money to be credited while purchase bill reflects money to be credited. Purchase Bill contains information like a reference number that is unique in itself, date of the bill, product details, name and full contact details of the person involved, payable taxes amount if any, and much more.

6

Multi-currency

You can create as many foreign currencies as required. You can pass transactions in multi-currencies. Tally automatically calculates the forex gain /loss. You can see reports like balance sheet and profit and loss account etc. in multi-currency.

7

Payroll

Payroll is the process of paying a company's employees, which includes tracking hours worked, calculating employees' pay, and distributing payments via direct deposit to employee bank accounts or by check. The payroll feature also provides management related information, statutory forms and reports in the prescribed formats such as: Pay Slip, Payroll Statements, Attendance and Overtime Registers.

8

GST/ TDS/ TCS

Tax Deducted at Source and Tax Collected at Source are both incurred at the source of income. TDS is the tax which is deducted on a payment made by a company to an individual, in case the amount exceeds a certain limit. TCS is the tax which is collected by sellers while selling something to buyers.