Question

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

Answer 1

Answeer to part (i) : Creation of ledgers

• Single ledger creation

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:

• Multiple ledger creation

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

Step 2: Go to Ledger

Step 3: Under Multiple ledgers, Select the option Create

Step 4: Fill the particulars in the Ledger Creation Screen

Answer to part (ii) :  Creation of groups/accounts heads

Step 1: Go to Gateway of Tally and click on accounts Info

Step 2: Under Accounts info, choose the option Groups.

Step 3: Under Single Group menu, choose the option create to create single group in Tally ERP 9

Step 4: On Group creation screen, update the following details.

• Name: Enter the name of group and press enter to continue
• Under: Choose the group name from list of groups as Sundry debtors (You can move to group name pressing upper or lower key).

After entering the required details, press enter or Ctrl+A / A:Accept to save the details

Answer to part (iii):  Viewing list of accounts groups created

Step 1: Path: Gateway of Tally > Accounts Info > Groups.

Step 2: Click on the option display under single group to displays groups in Tally.

Step 3: Under list of groups names, choose the required group name and click on that particular group to display on the screen.

Answer to part (iv) : Verify ledger accounts

Step 1. Go to Gateway of Tally > Analysis & Verification > Data Analysis > Verification of Chart of Accounts .

Step 2. Select the required Exception Status and press Enter .

Step 3. Select the required Ledger and press F8 or click F8 : Show Ledger

The Ledger Vouchers report displays all the vouchers with details such as Voucher Date, Vch Type, Vch No., Transaction Value, Verification Status etc. The report also shows the Opening Balance, Current Total and Closing Balance for the selected ledger.

Answer to part (v):  Creation of a new voucher type

Go to Gateway of Tally > Accounts Info./Inventory Info. > Voucher Type > Create

Answer to part (vi) : Altering a voucher type

Go to Gateway of Tally > Accounts Info./Inventory Info. > Voucher Type > Alter

Answer to part (vii) : Creation of a stock group

• Single Stock group creation steps :

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

• Multiple stock group creation Steps :

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

2. Select the parent group under which you want the new groups to be created from the List of Groups .

3. Enter the Name of the Stock Group.

4. If you select any group other than All Items in the Under Group field, then this column is filled in automatically with the selected Group name and the cursor skips this column. This will speed up data entry.

5. If you select All Items in the Under Group field, the cursor does not skip this field and allows you to enter the parent group for each one of them.

6. In the field Should Quantities of Items be Added you can select whether units of the Stock Items under Stock Group are to be added or not.

Answer to part (viii) : Creation of stock categories

• Single stock category creation steps

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

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.

• Multiple stock category creation steps

1. Go to Gateway of Tally > Inventory Info. > Stock Categories > Create (under Multiple Stock Category).

2. The field Under Category will display the List of Categories . You can select a category for which a multiple sub-category can be created.

3. If you select All Items in List of categories , selection of parent category Under column is possible during creation of sub-category.

4. If you select specific category in List of Categories , that category will get populated automatically whenever creation of sub-category and cursor skips Under column.

5. Specify the name of the Stock Category .

6. If you have select All Items in Under Category , you must specify a parent category in this column.

Answer to part (ix) : Creation of stock items

• Steps to Create stock items one-by-one

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.

Note: You can create a new stock Group by pressing Alt+C at 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.

Note: You can create a new UoM by pressing Alt+C at this field. For stock items without UoM, the cursor will not move to the Quantity field during voucher entry.

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.

Note: In F11: Inventory features , if the option Enable Invoicing is set to No then Rate of Duty field will not be visible. When Excise features is activated for the company, the option Tariff Classification will appear.

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.

• Steps for Creating multiple stock items in one-go

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

2. Select a Stock Group or All Items from List of Groups to create the Stock Item.

3. Enter the Name of the Stock Item.

4. Select the group and Units . Press Alt+C in the Units field if you want to create a unit of measure.

5. Enter the opening quantity, rate per unit.

6. Press Enter to save.

Answer to part (x) : Viewing ageing analysis reports

• Steps for Age-wise Analysis of a Single Ledger Accoun

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.

• Steps for Age-wise Analysis for a Group

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

2. Select a Group , e.g. Sundry Debtors

3. Click F6: Age-wise button and select one of the two Methods of Ageing: Ageing by Bill Date or Ageing by Due Date. Set the age periods required for the report.

The Group Outstandings report appears with the applied ageing method.

4. Click F12: Configure button and set the option Show Nett Balances to Yes .

• Steps for Age-wise Analysis for Bills Receivable /Payable report

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

2. Click F6: Age-wise button and select one of the two Methods of Ageing: Ageing by Bill Date or Ageing by Due Date. Set the age periods required for the report.