Utilities & Setup in TallyPrime

You can enable the Tax Deducted at Source (TDS) feature in TallyPrime, provide surcharge details, and create the masters required to record transactions. 1.    Enabling TDS in TallyPrime 1.         Press F11 (Features) > set Enable Tax Deducted at Source (TDS) to Yes.If you do not see this option: Set Show more features to Yes. Set Show all features to Yes. 360 2.            Enable the option Set/alter TDS …

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This topic lists out the prerequisites for splitting company data and how to split company data based on financial years. Before splitting the data, the user must ensure the following important points: (A).        The company data is verified to ensure that no errors occur during splitting using the Verify Company Data option because Verify Company …

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TallyPrime gives you great flexibility in setting up your chart of accounts. It allows you to group your ledger accounts right at the time of creating your accounts chart. Your reports and statements reflect the desired classification at all times. List of accounts displays the existing chart of accounts, listed as groups, in alphabetical order. …

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TallyPrime provides various security options which can be enabled in this section: All the company information and business transactions that you maintain in TallyPrime is safe. However, you can provide additional security by adding a username and password. Only users with these credentials can access your business information. Moreover, you can create users with different …

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In your business, if you are following the process of raising a sales order for each sales transaction, you can do the same in TallyPrime. You can record a sales order, raise a delivery note and link it to this order, and then link them to the sales invoice. You can use the reports to …

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When the order is placed with the suppliers for the supply of goods, the items, quantities, date of receipt, and so on, details are given with the Purchase Order Number. Later, when these goods are received, the Purchase Order is tracked for the Order Details either in the receipt note or in the purchase Invoice. The Outstanding …

Purchase Order (Ctrl+F9) Processing in TallyPrime Accounting Software Read More »

1. Price Levels in TallyPrime In TallyPrime, you can create different Price Levels and assign different Price Lists to these Price Levels. For example, you can create Wholesaler, Corporate and Retail as Price Levels and assign applicable Price Lists to these Price levels, as per your requirements, so that only the relevant prices and discount …

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You can install TallyPrime on any computer with 64-bit edition of Microsoft Windows 7 or later. 1.         Download the setup.exe file from : https://tallysolutions.com/download/ 2.         Select the folder where you want to save. Then double-click setup.exe to install TallyPrime. 1 3.         Configure Application Path, if needed. So double-click Application Path. Click … and change the …

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1. Inward Supply of Goods & Service under GST Reverse Charge (RCM) GST on reverse charge is levied if there is intra State supply of goods or services or both by an unregistered supplier to a registered person and the value exceed Rs 5000 in a day. In other words, If a vendor who is Not Registered under …

GST on Reverse Charge Mechanism (RCM) using TallyPrime Accounting Software Read More »

You can create a group company in TallyPrime to conveniently view all your companies at one place. This group company can function as a single economic entity, where financial reports such as Balance Sheet, Profit and Loss A/c and Trial Balance are consolidated without any impact on the transactions. Irrespective of whether your branches use …

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1. Setup e-Way Bill in TallyPrime TallyPrime supports the e-Way Bill JSON Preparation Tool, Version 1.0.0219. In TallyPrime, you can enter e-Way Bill details only when such transactions are recorded with stock items. The provision to enter e-Way Bill details is not available in accounting invoice mode, and in companies enabled to Maintain only accounts. Step …

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Cost Center A cost centre is any unit of an organisation to which transactions (generally, revenue) can be allocated. When only costs or expenses are allocated to these units, they are referred to as Cost Centres.  Transactions are allocated to cost centres. This enables accounting all transactions for that particular cost centre.  You can view …

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Swayam Sales is one Departmental Store in Balasore, Odisha, with GSTN  No – 21AGHPB2764P1ZD  deals with both Whole selling & Trading of different types of Products like … Electronics, Electrical Home Appliance, Mobiles etc. etc. with the following information’s and will maintain his Books of Accounts with the help of TallyPrime Accounting Software with effect …

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A Bill of Materials is a list of constituent items along with quantity details that can be allotted for the manufacture of a  certain product, by-product or likewise. This facilitates immediate reduction in stock of the item automatically. This process of listing the items that make up another item is made possible in Tally by enabling the …

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