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Tally Practical Assignment Guide

The document provides a step-by-step guide for creating a company in Tally Prime, including company details, enabling features, and creating inventory masters. It outlines the process for ledger creation, entering opening balances, and recording various transactions. The guide includes specific examples of stock items, transactions, and financial entries to assist users in completing their assignments.

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8 views3 pages

Tally Practical Assignment Guide

The document provides a step-by-step guide for creating a company in Tally Prime, including company details, enabling features, and creating inventory masters. It outlines the process for ledger creation, entering opening balances, and recording various transactions. The guide includes specific examples of stock items, transactions, and financial entries to assist users in completing their assignments.

Uploaded by

jabedhalder4
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as DOCX, PDF, TXT or read online on Scribd
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Tally Prime Practical Assignment - Step-

by-Step Guide
1. Company Creation

Open Tally Prime and create a new company with the following details:
- Company Name: Your Assignment Company
- Financial Year Begins: 01-Apr-2024
- Books Begin From: 01-Apr-2024

2. Enable Features

Press F11: Features > Inventory Features:


- Enable Inventory: Yes
- Maintain Multiple Godowns: Yes
- Use Stock Categories: Yes

3. Create Inventory Masters

a. Units of Measure:
- pcs (Simple)
- pack (Simple)

b. Stock Categories:
- Writing Items
- Paper Items

c. Stock Groups:
- Pens
- Notebooks
- Printer Papers

d. Godowns:
- Main Godown
- Kolkata Branch Godown
e. Stock Items:
1. Gel Pen – 500 pcs @ ₹10 (Main Godown)
2. Notebook A4 – 300 pcs @ ₹40 (Main Godown)
3. Printer Paper Pack – 100 pack @ ₹150 (Main Godown)

4. Ledger Creation

a. Capital & Bank:


- Capital Account
- Cash (₹50,000)
- SBI Bank A/c (₹1,00,000)

b. Sundry Creditors:
- M/S Krishna Suppliers

c. Sundry Debtors:
- M/S Office World

d. Expenses:
- Rent
- Electricity
- Depreciation

e. Drawings:
- Drawings A/c (under Capital)

5. Enter Opening Balances

Gateway of Tally > Accounting Vouchers > F10: Journal (01-Apr-2024)


- Capital A/c Dr ₹5,00,000
To Cash ₹50,000
To SBI Bank ₹1,00,000
To Opening Balance Diff ₹3,50,000 (auto-adjust)

6. Transactions Entry
Date Transaction Description

03-Apr Purchase from M/S Krishna Suppliers


(Credit): 200 Gel Pens @ ₹10, 100
Notebooks @ ₹40 (Main Godown)

05-Apr Sold to M/S Office World (Credit): 150 Gel


Pens @ ₹15, 60 Notebooks @ ₹55 (Main
Godown)

06-Apr Transferred stock to Kolkata Branch: 100


Gel Pens, 50 Notebooks

08-Apr Paid rent ₹10,000 via SBI Bank

10-Apr Received ₹20,000 from M/S Office World


(Cash)

12-Apr Paid ₹15,000 to M/S Krishna Suppliers via


cheque

14-Apr M/S Office World returned 10 Notebooks


(Credit Note)

16-Apr Returned 10 Gel Pens to M/S Krishna


Suppliers (Debit Note)

18-Apr Paid electricity ₹2,000 in cash

20-Apr Depreciation on computers ₹5,000


(Journal)

22-Apr Owner withdrew ₹3,000 for personal use


(Cash)

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