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Tally Prime Practice Exercises

This document is a beginner's guide to using Tally Prime, outlining practice exercises for creating a company, ledgers, and entering voucher transactions. It includes steps for viewing financial reports, backing up data, and optional GST configuration. The exercises provide a practical approach to understanding basic accounting functions within Tally Prime.

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5K views2 pages

Tally Prime Practice Exercises

This document is a beginner's guide to using Tally Prime, outlining practice exercises for creating a company, ledgers, and entering voucher transactions. It includes steps for viewing financial reports, backing up data, and optional GST configuration. The exercises provide a practical approach to understanding basic accounting functions within Tally Prime.

Uploaded by

jeromegeorge1903
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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Beginner's Guide to Tally Prime

Tally Prime Practice Exercises for Beginners

1. Create a Company

Create a company named 'ABC Traders' with the following details:

- Financial Year: 1-Apr-2024 to 31-Mar-2025

- Books Beginning From: 1-Apr-2024

- Base Currency: INR

2. Create Ledgers

Create the following ledgers under appropriate groups:

- Cash (Under Cash-in-Hand)

- Bank of India (Under Bank Accounts)

- Sales (Under Sales Accounts)

- Purchases (Under Purchase Accounts)

- Capital (Under Capital Account)

- Rent (Under Indirect Expenses)

- Electricity (Under Indirect Expenses)

3. Voucher Entries

Enter the following transactions:

- 01-Apr-2024: Started business with Rs. 1,00,000 cash (Capital A/c)

- 02-Apr-2024: Deposited Rs. 50,000 into Bank of India (Contra)

- 03-Apr-2024: Purchased goods worth Rs. 30,000 (Purchase A/c) in cash

- 04-Apr-2024: Sold goods worth Rs. 20,000 (Sales A/c) in cash

- 05-Apr-2024: Paid rent Rs. 5,000 (Rent A/c) by bank

- 06-Apr-2024: Paid electricity bill Rs. 1,000 (Electricity A/c) in cash

4. View Reports
Beginner's Guide to Tally Prime

After entering the transactions, view the following reports:

- Trial Balance

- Profit & Loss Account

- Balance Sheet

5. Backup and Restore

Take a backup of your company and practice restoring it in a new folder.

6. GST Configuration (Optional)

If GST is applicable:

- Enable GST

- Create GST ledgers

- Enter a sample GST-compliant sale and purchase

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