Tally.ERP 9 kyes

TALLY.ERP9 latest Rel. 4.61

FUNCTION KEY COMBINATION

Windows	Functionality	Availability
F1	To select a company	At all masters menu screen
F1	To select the Accounts Button	At the Accounting Voucher creation and alteration screen
F1 (ALT+F1)	To select the Inventory To view the detailed or condensed report	At the Inventory/Payroll Voucher creation and alteration screen                                                                                       In almost all the Reports
F1 (CTRL + F1)	To select Payroll Vouchers to alter	At the Accounting/Inventory voucher creation or alteration screen.
F2	To change the current date To select company inventory features	At almost all screens in TALLY.ERP 9 At the F11: Features screen
F3	To select the company To select Company Statutory & Taxation features	At almost all screens in TALLY.ERP 9 At F11: Features screen
F4	To select the Contra voucher	At Accounting / Inventory Voucher creation and alteration screen
F5	To select the Payment voucher	At Accounting / Inventory Voucher creation and alteration screen
F6	To select the Receipt voucher	At Accounting / Inventory Voucher creation and alteration screen
F7	To select the Journal voucher	At Accounting / Inventory Voucher creation and alteration screen
F8	To select the Sales voucher	At Accounting / Inventory Voucher creation and alteration screen
F8 (CTRL+F8)	To select the Credit Note voucher	At Accounting / Inventory Voucher creation and alteration screen
F9 (CTRL+F9)	To select the Debit Note voucher	At Accounting / Inventory Voucher creation and alteration screen
F10	To select the Reversing Journal voucher	At Accounting / Inventory Voucher creation and alteration screen
F10 (Ctrl + F10)	To select the Memorandum voucher	At Accounting / Inventory / Payroll Voucher creation and alteration screen
F11	To select the Functions and Features screen	At almost all screens in TALLY.ERP 9 (In F11 features: F1 Accounting Features , F2 Inventory Features & F3 Statutory & Taxation Features )
F12	To select the Configure screen	At almost all screens in TALLY.ERP 9

SPECIAL KEY COMBINATION

Windows	Functionality	Availability
ALT + 2	To Duplicate a voucher	At List of Vouchers – creates a voucher similar to the one where you positioned the cursor and used this key combination
ALT + A	To Add a voucher To Alter the column in columnar report	At List of Vouchers – adds a voucher after the one where you positioned the cursor and used this key combination. Alters the column in all the reports which can be viewed in columnar format
ALT + C	To create a master at a voucher screen (if it has not been already assigned a different function, as in reports like Balance Sheet, where it adds a new column to the report) To access Auto Value Calculator in the amount field during voucher entry	At voucher entry and alteration screens, at a field where you have to select a master from a list. If the necessary account has not been created already, use this key combination to create the master without quitting from the voucher screen. At all voucher entry screens in the Amount field
ALT + D	To delete a voucher To delete a master To delete a column in any columnar report (if it has not been already assigned a different function, as explained above)	At Voucher and Master (Single) alteration screens. Masters can be deleted subject to conditions, as explained in the manual. All the reports screen which can be viewed in columnar format
ALT + E	To export the report in ASCII, Excel, HTML OR XML format	At all reports screens in TALLY.ERP 9
ALT + I	To insert a voucher To toggle between Item and Accounting invoice	At List of Vouchers – inserts a voucher before the one where you positioned the cursor and used this key combination. At creation of sales and purchase invoice
ALT + G	To select the Language Configuration	At almost all screens in TALLY.ERP 9
ALT + K	To select the Keyboard Configuration	At almost all screens in TALLY.ERP 9
ALT + O	To upload the report at your website	At all reports screens in TALLY.ERP 9
ALT + G	To select language for TALLY.ERP 9 Interface	At almost all screens of TALLY.ERP 9
ALT + M	To Email the report	At all reports screens in TALLY.ERP 9
ALT + N	To view the report in automatic columns	At all the reports where columns can be added
ALT + P	To print the report	At all reports screens in TALLY.ERP 9
ALT + R	To repeat the narration in different voucher type	At all Vouchers in TALLY.ERP 9
ALT + S	To bring back a line you removed using ALT + R	At all reports screens in TALLY.ERP 9
ALT + U	To retrieve the last line which is deleted using Alt + R	At all reports screens in TALLY.ERP 9
ALT+ V	From Invoice screen to bring Stock Journal screen	At Invoice screen > Quantity Field > Press Alt + V to select the Stock Journal.
ALT + X	To cancel a voucher in Day Book/List of Vouchers	At all voucher screens in TALLY.ERP 9
ALT + R	To repeat the narration in different voucher type	At almost all screens in TALLY.ERP 9.
CTRL + A	To accept a form – wherever you use this key combination, that screen or report gets accepted as it is	At almost all screens in TALLY.ERP 9, except where a specific detail has to be given before accepting
CTRL + B	To select the Budget	At Groups/Ledgers/Cost Centres/ Budgets/Scenarios/Voucher Types/ Currencies (Accounts Info) creation and alteration screen
CTRL + ALT + B	To check the Company Statutory details	At all the menu screens
CTRL + C	To select the Cost Centre To select the Cost Category	At Groups/Ledgers/Cost Centres/ Budgets/Scenarios/Voucher Types/ Currencies (Accounts Info) creation and alteration screen At Stock Groups/ Stock Categories/ Stock Items/ Reorder Levels/ Godowns/ Voucher Types / Units of Measure ( Inventory Info)  creation/alteration screen
CTRL+ E	To select the Currencies	At Groups/Ledgers/Cost Centres/ Budgets/Scenarios/Voucher Types/ Currencies (Accounts Info) creation and alteration screen
CTRL + G	To select the Group	At Groups/Ledgers/Cost Centres/ Budgets/Scenarios/Voucher Types/ Currencies (Accounts Info) creation and alteration screen
CTRL + H	To view the Support Centre	At Almost all screens in TALLY.ERP 9
CTRL + I	To select the Stock Items	At Stock Group/ Stock Categories/ Stock Items/ Reorder Levels/ Godowns/ Voucher Types / Units of Measure ( Inventory Info)  creation/alteration screen
Ctrl + Alt + I	To import statutory masters	At all menu screens
CTRL + K	To Login as Remote Tally.NET User	At Almost all screens in TALLY.ERP 9
CTRL + L	To select the Ledger To mark a Voucher as Optional	At Groups/Ledgers/Cost Centres/ Budgets/Scenarios/Voucher Types/ Currencies (Accounts Info) creation and alteration screen At the creation and alteration of Vouchers
CTRL + O	To select the Godowns	At Stock Group/ Stock Categories/ Stock Items/ Reorder Levels/ Godowns/ Voucher Types / Units of Measure ( Inventory Info)  creation/alteration screen
CTRL + Q	To abandon a form – wherever you use this key combination, it quits that screen without making any changes to it.	At almost all screens in TALLY.ERP 9.
CTRL + R	To repeat narration in the same voucher type	At creation/alteration of voucher screen
CTRL + Alt + R	Rewrite data for a Company	From Gateway of Tally screen
CTRL + S	Allows you to alter Stock Item master	At Stock Voucher Report and Godown Voucher Report
CTRL + U	To select the Units	At Stock Groups/ Stock Categories/ Stock Items/ Reorder Levels/ Godowns/ Voucher Types / Units of Measure ( Inventory Info)  creation/alteration screen
CTRL + V	To select the Voucher Types To toggle between Invoice and Voucher	At Groups/Ledgers/Cost Centres/ Budgets/Scenarios/Voucher Types/ Currencies (Accounts Info) creation and alteration screen At creation of Sales/Purchase Voucher screen
CTRL + K	To login to Control Centre	At almost all screens of TALLY.ERP 9
CTRL + H	To access Support Centre. Wherein you can directly post your queries on the functional and technical aspects of Tally.ERP9, Shoper and Tally.Developer.	At almost all screens of TALLY.ERP 9
Alt + Enter	To view the Voucher display	At Day Book and almost all Voucher Reports
Alt + S	To view Stock Query report	At all Voucher Creation and Alteration screens where inventory is applicable except Contra, Reversing Journal, Memorandum and Physical Stock  Voucher
Alt + Z	To zoom in to the print preview to 100% screen	At all print preview screens that appear on pressing Alt+P with the option I: With Preview enabled
+	To zoom in to the print preview	At all print preview screens that appear after pressing Alt+Z
-	To zoom out of the print preview	At all print preview screens that appear after pressing Alt+Z
CTRL + Scroll wheel (Mouse Wheel)	To zoom in to the print preview	At all print preview screens that appear after pressing Alt+Z
SHIFT + Scroll wheel (Mouse Wheel) SHIFT + Right or Left arrow	To scroll horizontally - left to right or right to left	At all print preview screens that appear after pressing Alt+Z

SPECIAL FUNCTION KEY COMBINATION

Windows	Functionality	Availability
ALT + F1	To close a company To view detailed report To explode a line into its details To select Inventory vouchers to alter	At all menu screens At almost all report screens At almost all screens in TALLY.ERP 9 At the Inventory/ Payroll voucher creation or alteration screen.
ALT + F2	To change the period	At almost all screens in TALLY.ERP 9
ALT + F3	To select the company info menu To create/alter/shut a Company	At Gateway of Tally screen
ALT + F4	To select the Purchase Order Voucher Type	At Accounting / Inventory Voucher creation and alteration screens
ALT + F5	To select the Sales Order Voucher Type To view monthly and quarterly report	At Accounting / Inventory Voucher creation and alteration screens At almost all report screens in TALLY.ERP 9
ALT + F6	To select the Rejection Out Voucher Type To change the Sales Order Voucher Type	At Accounting / Inventory Voucher creation and alteration screens
ALT + F7	To select the Stock Journal Voucher Type To accept all the Audit lists	At Accounting / Inventory Voucher creation and alteration screens At Tally Audit Listing screen
ALT + F8	To select the Delivery Note Voucher Type To view the Columnar report	At Accounting / Inventory Voucher creation and alteration screens At Ledger Voucher screen
ALT + F9	To select the Receipt Note Voucher Type	At Accounting / Inventory Voucher creation and alteration screens
ALT + F10	To select the Physical Stock Voucher Type	At Accounting / Inventory Voucher creation and alteration screens
ALT + F12	To filter the information based on monetary value	At almost all report screens
CTRLl + F1	To select payroll vouchers for alteration	At the Accounting/Inventory Voucher creation or alteration screen
CTRL + ALT + F12	Advanced Configuration	At Gateway of Tally
SPACE	To select the line to delete/hide	At almost all report screens
CTRL + SPACE	To select all the line at one instance to delete/hide	At almost all report screens
CTRL + ALT+ A	To select all the line at one instance to delete/hide	At almost all report screens

KEY COMBINATION USED FOR NAVIGATION

Windows	Functionality	Availability
PgUp	Display previous voucher during voucher entry/alter	At voucher entry and alteration screens
PgDn	Display next voucher during voucher entry/alter	At voucher entry and alteration screens
ENTER	To accept anything you type into a field. To accept a voucher or master To get a report with further details of an item in a report	You have to use this key at most areas in TALLY.ERP 9 At the receivables report – press Enter at a pending bill to get transactions relating to this bill (e.g., original sale bill, receipts and payments against this bill, etc)
ESC	To remove what you typed into a field To come out of a screen To indicate you do not want to accept a voucher or master	At almost all screens in TALLY.ERP 9
SHIFT + ENTER	Collapse next level details	At Voucher Register screen and Trial Balance report
SHIFT + ENTER	To explode a line into its details	In almost all Reports: At a Group/Stock Group/Cost Category/Godowns /Stock Category – displays Sub Groups and Ledgers/Stock Items/Cost Centres/Secondary Godowns/Secondary Stock Categories At a Voucher – displays its entries and narration At a Stock Item- displays its godowns and batch details At Voucher Register screen – displays the next level details At Trial Balance report - displays the next level details
CTRL + ENTER	To alter a master while making an entry or viewing a report	At voucher entry and alteration screens At all reports

Company Logo in Tally

Tally.ERP 9


Printing Company Logo On Invoices

Tally.ERP 9 A Release 3.0 or later,


you can print your company’s logo on plain paper as this version supports image
printing. The logo images should be stored in .bmp, .jpg or .jpeg image formats.
By using the image printing feature, you can now create exclusive reports and
Documents with your company’s logo, which will add to their value and render a unique
Identity to each official document.


To configure the logo printing function:

• Go to ‘Gateway of Tally > F11: Features > Accounting Features’.

• Set the option ‘Enable Company Logo’ to ‘Yes’.

Enabling the printing of the company logo
Then the location of the logo needs to be entered in the ‘Company Logo Path’ screen.







Now Make a sales voucher for the purpose of logo printing in invoice mode:

Gateway of Tally > Accounting Voucher > F8 sales voucher.

Then give the command ‘Alt + P’ to enable printing.

An Invoice with a logo ready for printing:

Printing in tally.ERP9 rel. 4.6

Printing

*Tally.ERP9 Release 4.6 brings with it additional ways to zoom in and out of print previews:

*The '+' and '-' keys
*Ctrl+scroll wheel (mouse wheel)
*Shift+scroll wheel (mouse wheel) for horizontal scrolling
Also, the maximum level of zoom-in is increased to 600%. This will solve any visibility
issues faced by users.

DEPOSIT SLIP

HOW TO MAKE  DEPOSIT SLIP IN TALLY 

Deposit Slip

The Deposit Slip option in the Banking menu allows the user to generate the deposit slip for
payments received through cheque/dd which need to be deposited into the bank.
Accessing Deposit Slip

To access Deposit Slip screen,

 Go to Gateway of Tally > Banking > Deposit Slip.

 The Select Bank:

 Select the required Bank account and press Enter.



The Deposit Slip screen displays only those transactions which have Cheque/
DD as Transaction type allocated in the Bank Allocation table in the Receipt
voucher entry.


 Select the required row from the Deposit Slip list and press Enter to open the voucher in
alteration mode.

 F2: Period: Allows to change the period.
 F4: Bank: Allows to select other required Bank from the list.



Printing Deposit Slip / Deposit Slip Report

The user may select All or the required receipts to be included in the Deposit Slip. The Deposit
Slip report will print all the receipts for the selected period.

Printing Deposit Slip

To Print the Deposit Slip:

 Go to Gateway of Tally > Banking > Deposit Slip
 Select the required Bank account from List of Bank.
 The Deposit Slip screen is displayed with the list of receipts.

To include all the receipts in the Deposit Slip:

 Click Print or Press Alt+P.

To include selected receipts in the Deposit Slip:

 Press Spacebar to the required receipt row(s).

 Click Print or Press Alt+P.

SERVICE TAX

SERVICE TAX

Service Tax is a destination based consumption tax in the form of Value Added Tax. Service Tax is
a indirect tax imposed on specified services (taxable services) provided by a service provider
(Company, Individual, Firm etc.).
Service Tax was first brought into force with effect from 1 July 1994. All service providers in India,
except those in the state of Jammu and Kashmir, are required to pay a Service Tax in India.
Initially only three services were brought under the net of service tax and the tax rate was 5%.
Gradually more services came under the ambit of Service Tax. The rate of tax was increased. On
February 24, 2009 in order to give relief to the industry under the impact of economic recession,
the rate of Service Tax was reduced from 12 per cent to 10 per cent.

Scope & Applicability

Scope
Service Tax is charged only on the receipt of the consideration for the services provided / to be
provided (advance receipts). The liability of tax is on the service provider (in some cases service
receiver), i.e. person who is providing the service is liable to pay tax to the government.
Example: Royal Agency provided advertising services of Rs. 1,00,000 to SysImage. On the
service amount of Rs.1,00,000, Royal Agency is liable to pay the tax of Rs. 10,300 @ 10.30%
(10% os Service Tax, 2% of Education Cess, 1% of Secondary Education Cess)
Though the tax liability is on service provider, the tax can be collected by the
service provider from the service receiver.
The service provider does not have to pay service tax on the total bill amount but
only on the payment received.

Applicability
Service tax is applicable on taxable services
1.Provided and taxable in the hands of service provider
2.Received and taxable in the hands of service receiver: Generally it is the service provider who is liable to collect service tax from his customer/client and pay the same to the government. But section 68(2) empowers the government to notify the services with regard to which the service receiver would be held liable to pay service tax to the government. For the below mentioned services the service receiver is liable to pay service tax (ss per Notification 36/2004 ST dated 31.12.2004 as amended from time to time)
Goods Transport Agency service
Business auxiliary service of distribution of mutual fund by a mutual fund distributor or agent
Sponsorship service provided to any body corporate/firm
Taxable services received by any person in India from abroad
Insurance auxiliary service by an insurance agent
The definition of taxable service is different for each class of services, e.g. in case of Stock Broker
agency, any service provided to a investor by buy or sell securities listed on a recognised stock
exchange will be a taxable service.

Registration

As per section 69 of the Finance Act 1994, every person liable for paying service tax has to
register as set out in the rules.
According to Rule 4 of the Service Tax Rules, 1994 following is the manner and time for registration
Application for registration to the concerned superintendent in form ST -1 with in 30 days from the date on which service tax is levied or 30 days from the commencement of business providing a taxable service, which ever is later.
Assessee providing Service from more than one Premises or Office, has to make separate applications for each of such premises or Offices.
If the assess has centralised billing System or Centralised accounting system, then assessee can obtain Centralised Registration covering all the premises or offices.
In case of transfer of business from Registered Assessee to new person, Transferee has to obtain the fresh registration certificate.
For every Registered Assessee there is a provision under Service Tax Rules to Surrender Registration Certificate to Superintendent of Central Excise when he ceases to provide taxable services for which he is registered.

Registration requirement for Small Service Provider (SSP)
A person who is eligible for availing exemption under notification no. 6/2005 is required to apply for service tax registration within 30 days from the date when his turnover of services exceeds rupees 3 lakhs.
Input Service Distributor (ISD) Registration
Service Provider having multiple offices other than from where the services are provided and
wants to distribute the input services and cenvat credit thereon to the other location which is liable
for payment of service tax, a separate registration (in the manner as that of service provider) will
be required for each such office.
Service Tax Assessee Code (Service Tax Registration Number)
Service Tax Assessee Code is a PAN based 15 digit alpha numeric numbers e.g.
AEFCE1567ST001.
The first part denotes (10 characters – alpha numeric) Permanent Account Number issued by
Income tax authorities to the concerned person to whom the Service Tax Registration Number is
to be allotted. Second part comprises of a fixed 2 character alpha code – ST (Service Tax). This
is followed by 3-Character numeric code representing the registered Premises or Office of the
service provider
The Service Tax Registration Number has to be quoted on GAR–7 Challans covering deposit of
Service Tax, Cess and other dues to the Government.
Valuation of Taxable Service
Valuation of the services provides the methodology of arriving at the service amount on which the
applicable service tax to be charged.
Value of the taxable service is determined as under
Consideration fully in Money: The gross amount charged by the service provider for such services provided/to be provided
Consideration not in Money: The Equivalent Value of the Non monetary consideration.
Consideration partly in money and partly in other form: Amount charged monetarily and the Equivalent value of the Non monetary consideration
Consideration not Ascertained: Valuation based on the Valuation Rules (as per section 67, Service Tax (Determination of value) rules, 2006
Consideration Inclusive of Tax: Value of taxable service will be such amount, in addition of service tax payable is equal to Gross amount charged.
Example: Royal Agency provides taxable service for Rs. 1,32,360 inclusive of service tax @
10.30%. The taxable service value shall be computed as shown
Taxable Service Value (1,20,000) = 1,32,360 X (100/110.30)


Charge of Service Tax

As per Section 66 of Finance Act, 1994 tax (Service Tax) @ 10% of the value of taxable service, in
addition, 2% Education Cess and 1% Higher Education Cess is payable on taxable services.
Thus, total service tax is 10.30% and it will be collected in such manner as prescribed.


Time and Mode of Payment

1.By individuals, proprietary firms and partnership firms


Payable on the Amount received during the Quarter              Payable By
1st April to 30th June                                                                5th July
1st July to 30th September                                                         5th October
1st October to 31st December                                                   5th January
1st January to 31st March                                                          31st March


2.By Others

Payable on the Amount received during the Month                              Payable By
On amount received during each month except March                        5th of following month
on amount received during March                                                      31st March


Service Tax shall be paid to the government account through any designated branches of the
authorised banks, along with G.A.R.-7 Challans.

Returns & Time lines

     The Service Tax returns are to be filed half yearly in the prescribed Form ST-3 or Form ST - 3A
1.   Form ST-3 - For all the registered assessee, including Input Service Distributors,
     The returns have to be submitted, along with copies of all GAR 7 challans within 25 days of the
     expiry of the fiscal half-year

     For half year 1st April to 30th September – by 25th October

     For half year 1st October to 31st March – by 25th April.

2.  Form ST-3A -The assessee who is making provisional assessment for any month/quarter submit the           memorandum in from ST-3A by providing the details of difference between the provisional amount of service tax deposited and actual amount of service tax payable for each month along with the half yearly return in Form ST - 3.

Why is Tally the best for basic Financial Management?

Why is Tally the best for basic Financial Management?



Tally.ERP 9 provides you the capability to generate various financial statements and Management
Information system reports, thereby facilitating better management, effective control and wellinformed
decisions. Following are the some of salient features, which makes Tally.ERP 9 best for
basic financial management.
􀂇 Fund Flows
􀂇 Receivables Turnover (Payment performance of debtors)
􀂇 Branch Accounting
􀂇 Flexible Period Accounting
􀂇 Budgeting and Control
􀂇 Cost centers / Profit centers with multiple Cost Categories
􀂇 Ratio Analysis
􀂇 Scenario Management.


26
Lesson 2:Why is Tally the best for basic Financial Management?
Tally.ERP 9 provides you the capability to generate various financial statements and Management
Information system reports, thereby facilitating better management, effective control and wellinformed
decisions. Following are the some of salient features, which makes Tally.ERP 9 best for
basic financial management.
􀂇 Fund Flows
􀂇 Receivables Turnover (Payment performance of debtors)
􀂇 Branch Accounting
􀂇 Flexible Period Accounting
􀂇 Budgeting and Control
􀂇 Cost centers / Profit centers with multiple Cost Categories
􀂇 Ratio Analysis
􀂇 Scenario Management

2.1 Fund Flows
A Fund Flow statement reflects the movement in sources and application of funds which impacts
the business's working capital and cash position. It includes operational funds, increase and
decrease in inventories, creditors/debtors. This statement reveals the sources of the Funds and
their applications. Tally.ERP 9 tracks automatically all transactions entered and readily provides a
Funds Flow Statement.
To view Fund Flow Statement,
Go to Gateway of Tally > Display > Cash / Funds Flow > Funds Flow
􀂇 Select any month
􀂇 Press Enter





2.2 Payment performance of Debtors (Receivables Turnover)

Tally.ERP 9 tracks the payment performance of all debtors and generates report containing information
in respect of average time taken by the debtors to pay back their debts. The payment performance
of debtors is calculated in two ways.
.. Using Receivables formula: Tally.ERP 9 calculates the payment performance of your
debtors using the following formula,
Payment performance by formula: (closing balance / total sales) * nos of days
.. Or calculates the performance of the debtors using the actual bill cleared date.
To view Receivables turnover,
Go to Gateway of Tally > Ratio Analysis
.. Select Recv. Turnover in days (payment performance of Debtors)
.. Press Alt+F1 for detailed view.



2.3 Branch Accounting
Tally.ERP 9 provides you a seamless way of handling branch accounts. Transactions between
branches or offices are accounted by debiting the receiving branches accounts and crediting the
branches providing the service/products. These accounting entries result in a nil effect on the
HO's account books when the branch accounts are consolidated. If there is a difference in the
account, it is reconciled through a process of branch reconciliation.
For example, create two branch ledgers, Branch A and Branch B. You may account the transfer
of funds from Branch A to Branch B in the books of accounts, by debiting Branch B which in
turn, credits Branch A in its books. There is no net effect on the combined books, when the
accounts of the two branches are consolidated.



2.4 Flexible Period Accounting
Tally.ERP 9 is one of the most flexible accounting packages available and this can be illustrated
by the fact that it can handle multiple periods in a single company. Once a company is created you
can specify any range of dates and obtain reports for that period. These date range can also be
across multiple financial years. i.e. you can get a report for monthly, quarterly, half-yearly or
annually or for 18 months or 24 months and so on.
Example:
Go to Gateway of Tally > Profit & Loss A/c.
.. Select F2: Period and specify the date range to view the report.



2.5 Budgeting and Control
Businesses need to control their expenses based on income levels and monitor variances.
Budgets in Tally.ERP 9 helps you compare the actual financial performance versus budgeted
figures and obtain variance reports. You can define multiple budgets (e.g. Optimistic Budget,
Realistic Budget) or even create budgets for different periods. The budget values can be defined
for each Group as well as for all Ledgers.
To configure for budgets,
Go to Gateway of Tally > F11: Features > F1: Accounting Features
􀂇 Set parameter Maintain Budgets and Controls to Yes
To create budgets,
Go to Gateway of Tally > Accounts Info. > Budgets > Create
􀂇 Specify a name for the budget
􀂇 Specify a date range for the budget

􀂇 Set Yes to Groups / Ledgers and assign budget to selected groups/ledgers
To view budget reports,
􀂇 Select any report (Balance Sheet, Profit and Loss A/c, Trial Balance)
􀂇 Select Alt + C (New Column)
􀂇 Specify details for period, Currency and Method of Stock Valuation. (Default or as per
requirement)
􀂇 Select the created budget name for Types of Value to show
􀂇 Set Show Variance to No



Variance Analysis
Once you have created Budgets, you can view the Variance Analysis Report which provides information
on the difference between the actual versus the budgeted figures. This report helps management
to figure out variances and work to remedy the situation with the ability to drill down to
the voucher level the user is able to understand which particular transaction or group of transaction
brought about the variation.

To view a variance analysis report, you may set the option Show Variance to Yes, as explained above or follow the steps given below :
Go to Gateway of Tally > Display > Trial Balance/Account Books (Group Summary)
􀂇 Select the Budget Variance (Alt + B) - Type of budget


2.6 Cost centers / Profit centers with multiple Cost Categories
In Tally.ERP 9 you can allocate transactions (especially those which are revenue in nature) to particular
Cost Centres, which will help you in extracting reports for that Cost Centre (Profit Centre).
Cost Centers could generally be a Unit / Division / Department / Function / Activity etc in the
organization or even Sales Executives, to which transactions (generally transactions which are
revenue in nature) are allocated.
You can also compare one cost centre with the other. Hence cost centers will provide the management
with information regarding their performance. With cost categories enabled, parallel allocation
of the same expense is possible between different cost centres.To view Cost Centre Break-Up,
Go to Gateway of Tally > Display > Statements of Accounts > Cost Centres > Cost Centre
Break-Up.


2.6.1 Cost Category
In many cases, you would like to allocate a transaction to more than one cost centres. Especially,
if you want to track revenue either based on location and person or brand and type of product,
Tally.ERP 9 provides you a facility called Cost Categories. This facility enables you to allocate
costs to parallel sets of cost centres i.e., the same amount can be allocated to more than one cost
centre.
For example., Create two categories, one by the name of Administration and another by the
name Accounts under Primary Cost Category. Create Employees or persons under the
respective cost categories and enter a payment transaction for a ledger account for which cost
centres are applicable.
􀂇 Select the relevant Cost Category and Cost Centre during Voucher Entry

To view Cost Category summary,
Go to Gateway of Tally > Display > Statements of Accounts > Cost Centres > Category
Summary.


2.7 Ratio Analysis
Ratio Analysis is an indicator on the operating performance of your business and provides information
on critical ratios in a single report. You can analyze the ratios and the business performance
using this information, viz., operating cost percentage, return on working capital and so on,
to aid critical decisions making. Not only does the internal management find the information
useful, but also external agencies like banks, financial institutions etc.
To View Ratio Analysis Report,
Go to Gateway of Tally > Ratio Analysis.


2.8 Scenario Management
Scenario Management is the management tool provided in Tally.ERP 9 with the help of which you
can create multiple scenarios for the purpose of forecasting or to view provisional reports. This
can be done by selectively including certain types of vouchers, which will in no way affect the
regular books. The vouchers that are used in scenario management are
1.Optional Vouchers
2.Memorandum Vouchers
3.Reversing Journals
To configure for Scenarios,
Go to Gateway of Tally > F11: Features > F1: Accounting Features
􀂇 Set Use Reversing Journals and Optional Vouchers to Yes


To create a Scenario:
Go to Gateway of Tally > Accounts Info. > Scenarios > Create
􀂇 Specify the name of the scenario
􀂇 Set parameter Include Actuals to Yes/No (as required)
􀂇 Set parameters relating to Exclude forex gains/loss and Exclude inventory tracking to
Yes/No (as required)
􀂇 Specify the voucher types to be included/excluded (Use Exclude option only for those
Voucher Types that have been included previously).
To view Scenarios,
􀂇 Select any report (Balance Sheet, Profit and Loss A/c, Cost Centre and so on)
􀂇 Select Alt + C (New Column)
􀂇 Select the scenario
􀂇 Set parameter Show Variance to Yes/No.


Reversing Journals and Optional vouchers are both non-accounting vouchers and hence will not
affect your books of accounts in any manner. The reversing Journal is a separate Voucher Type.
Why is Tally the best ?
37
This voucher is effective only when called for in reports as a part of the scenario management. In
case of Reversing Journals, you can specify the date till which it is applicable.
To enter a Reversal Journal,
Go to Gateway of Tally > Accounting Vouchers > F10: Rev Jrnl.
.. Complete the transaction and specify a date till which it is applicable
To select an optional voucher,
.. Go to Gateway of Tally > Accounting Vouchers >
.. Press Ctrl + L: Optional to mark the chosen voucher as optional
This voucher is used when you have to enter a transaction but have incomplete information or the
transaction is not yet completed. It can be regularized at any time, by going into the alteration
mode and clicking on Regular (Ctrl+L) option.
38