Question

Question 2

Tally.ERP 9 as an accounting software package was exclusively devised to automate and integrate all the operations, such as sales, finance, purchasing, inventory, and manufacturing for many small and medium sized enterprises (SMEs). With Tally.ERP 9, accurate, up-to date business information is literally at your fingertips anywhere in the world.

Required:

With practical examples using a service company as a case study, explain the functionalities that has enabled Tally.ERP 9 to make inroads into the Ghanaian accounting software packages market.

Question 3

a.

State the processes/steps to be performed for each of the following in Tally.ERP 9:

i. Creation of ledgers

ii. Creation of groups/accounts heads

iii. Viewing list of accounts groups created

iv. Verify ledger accounts

v. Creation of a new voucher type

vi. Altering a voucher type

b.

Jobel Company Limited, an insurance brokerage firm, has been posting huge financial losses since the outbreak of the COVID-19 pandemic. The company is in the process of filing for bankruptcy due to the consistent fall of its share price, a situation solely attributable to the COVID-19 pandemic. At the last

vii. Creation of a stock group

viii. Creation of stock categories

ix. Creation of stock items

x. Viewing ageing analysis reports

1

shareholders’ meeting before the pandemic, members voted massively for the introduction of a computerised accounting information system (CAIS) to automate the operations of the company. However, the key management members are clueless as to the key motivating considerations for the migration. As a computerised accounting information systems student, you have been approached by the Chief Executive Officer of the company for advice and direction.

Required:

Write a letter to the Chief Executive Officer discussing the the key motivating considerations for the migration and the extent to which the migration could impact the future operations of the company.

Answer 1

Question 3:

(i) Creation of Ledger Steps :

Step 1: From Gateway of Tally, go to Accounts Info

Step 2: Go to Ledger

Step 3: Under single ledger, Select the option Create

Step 4: Fill the particulars in the Ledger Creation screen displayed.

Step 5 : Press Ok, Ledger is created.

(ii) Creation of groups/accounts heads :

1. Go to Gateway of Tally> Accounts Info> Groups > Create ( Under single group )
2. Now you are in Group creation screen, Type the name of the group.
3. Select Suitable group in the field 'Under'
4. Press Enter and save, You are done.

(iii) viewing list of accounts group :

Step 1: From Gateway of Tally, go to Accounts Info

Step 2: Go to Groups

Step 3: Select View Groups. now, u will be able to see the list of groups.

(iv) Verify ledger accounts :

1. Select 'Display' under gateway of tally.
2. Select 'Account Books'
3. Select 'Ledger'
4. After you select Ledger, a screen will appear showing the name of all ledgers.
5. Verify the ledgers u want.

(v). Creation of a new voucher type :

1. Go to Gateway of Tally
2. Accounts Info./Inventory Info.
3. Voucher Type
4. Create

(vi). Altering a voucher type :

1. Go to Gateway of Tally
2. Accounts Info./Inventory Info.
3. Voucher Type
4. Alter

(vii). Creation of a stock group :

1. Go to Gateway of Tally > Inventory Info. > Stock Groups > Create (under Single Stock Group ).

2. Enter the Name of the Stock Group.

3. Enter additional name apart from primary name [if required] in the field Alias . You can create any number of additional names.

4. Specify whether it is a primary group or a sub-group of another group in the field Under , by selecting from the list.

5. Press Alt+C to create a parent group, if you do not have it in the list.

6. The field Should quantities of items be added pertains to information on measuring the units of the Stock Items that you would categorise under the Stock Group . The Stock Items categorised under the group should have similar units for them to be added up. You cannot add quantities in Kgs to quantities in Pcs .

7. Enable the option Set/alter GST Details to define the GST rate .

8. Press Enter to save.

(viii). Creation of stock categories :

1.Go to Gateway of Tally > Inventory Info. > Stock Categories > Create (under Single Stock Category). The Stock Category Creation screen is displayed as shown below:

2. Enter the Name of the Stock Category.

3. Specify whether it is a primary category or a sub-category of another category in the field Under. Select Primary from the list, if you do not have a parent group. Use Alt +C to create a parent if you do not have the required category in the list.

4. Press Enter to save.

(ix). Creation of stock items :

1. Go to Gateway of Tally > Inventory Info. > Stock Item > Create (under Single Stock Item ).

2. Enter the Name of the Stock Item.

3. Enter the Alias name of Stock Item (if required).

4. The field Under will show the List of Groups . Here you can select the Stock Group to which the Stock Item belongs. By default, Primary Stock Group appears in this field.

5. This field will show the Unit List . Here you can select the Unit of measure (UoM) applicable for the stock item. By default, Not Applicable appears in this field.

6. If GST is enabled, set GST Applicable to Applicable and enter the GST details by enabling the option Set/alter GST Details .

7. Specify the Rate of Duty applicable for the stock item. This field is used for the calculation of excise duty or if duty is based on item rate. During Invoicing, whenever you select a Stock Item, the Rate of duty entered here is displayed in the Invoice creation screen.

8. Specify the details of Opening Balance , if any, for the Stock Item as on the date of Beginning of Books.

o In the Quantity Field, specify the stock item Quantity.

o In the Rate field, specify the stock item Rate.

o In the Value field, Tally.ERP 9 automatically calculates the value by multiplying the Quantity and Rate. You can also edit the value, Tally.ERP 9 automatically refreshes the Rate field accordingly

(x). Viewing ageing analysis reports :

1. Go to Gateway of Tally > Display > Statements of Accounts > Outstandings > Ledger .

2. Select the ledger account.

3. Select F6: Age wise from the button bar in the Ledger Outstandings screen.

4. Select the Ageing method.

5. Set the age periods required for the report.