Month: May 2013

Receipts & Payments Report in Tally

Posted on by Tally Academy

Hassle Free – Receipts and Payments Reports

receipts-payments For non-profit organisations and NGOs, the Receipts and Payments report in Tally.ERP 9 proves ideal. This summary of cash flow (income and expenses) for a period includes Cash at Bank & Bank OD. It begins with the opening cash-in-hand at the start and ends with the closing cash-in-hand. Now, non-trading institutions can track their funds and monitor payouts.

 

Benefits:

  • Useful for non-trading institutions/non-profit organisations
  • Shows exact cash and bank position for a particular period
  • Provides a single view of receipts and payments for cash payments
  • Improves management of cash
  • Helps control expenditure

TallyShop : Tally Add-ons

Posted on by Tally Academy

Tally Shop

TallyShop OThere are times when you wished for a specific report or a new feature not available in your software. What options did you have? Till now, the only option was for you to have them custom-developed. But, it took time, cost a lot of money and, often, you were not sure of the outcome.Now, our Tally Integrator partners have made life so much easier for you. Get custom reports, features, controls and more –off-the-shelf – from TallyShop. The unique marketplace that is accessible from within Tally.ERP 9 as well as from the web, lets you search, evaluate and buy these add-ons with a few clicks!

Highlights:

  • Search from hundreds of ready built add-ons
  • Very affordable and simple pricing policies (some as low as Rs.240/USD9)
  • Evaluate (for a limited period)
  • Buy (with Tally Currency/Credit Card) or opt for monthly subscription
  • Upgrade from Silver to Gold
  • Get the latest updates and upgrades with just an annual subscription or upgrade fee
  • Migrate licenses within your branches (if part of one Account)
  • Obtain support direct from the developer – from within the integrated Support Centre
  • Get notifications of updates & upgrades

 

Click here to go to TallyShop.

Image Printing in Tally.ERP 9

Posted on by Tally Academy
Print logos on your business invoices and reports with the Image Printing facility in Tally.ERP 9 Series A Release 3.0. Suitable for use with images stored in BMP or JPEG formats, it is simple and can add class to any outgoing documents.

Benefits:

  • Easy identification
  • Different logos for different companies
  • Professional look
  • Saves printing costs

Benefits:

  • Easy identification
  • Different logos for different companies
  • Professional look
  • Saves printing costs

New Rupee Symbol in Tally ERP 9

Posted on by Tally Academy

Indian Rupee Symbol

Indian_RupeeSymbol Only 8 countries around the world have their own currency symbols; now India joins this elite club. Tally supports this achievement by enabling this feature in India’s most popular business management software product. Tally.ERP 9 Series A Release 3.0 allows you to use the new symbol for your business. Go ahead – integrate it with all documents for that classy look….being proud of being Indian is the Tally way too

 

Benefits:

  • Professional look on documents
  • Ease of dealing with multiple currencies
  • Quick recognition of Currency

Voucher Type Security in Tally.ERP 9

Posted on by Tally Academy

What is Voucher Type Security?

Tally_Voucher_Security A business would generally have multiple users, wherein the task done in Tally will be based on the role of the employee. Hence, a person in Sales would mostly be passing Sales related and Receipt Vouchers, while someone handling Banking would spend more time passing Payment, Receipt and other similar Accounting Vouchers.With voucher Level Security, the administrator is able to provide or deny access to what level of activity can be performed on a voucher by different users i.e. User A & User B can create & alter a Payment Voucher, but User C can only view the same. This will provide greater degree of control and higher personalization.

Advantages of Voucher Level Security:

  • This will help the administrator to create a department and role based segregation of access for different users, i.e. specify voucher types access based on Sales, Purchase, Accounts and Payroll etc. for employees in those areas of work.
  • Further, the administrator can even select to provide access to an entire group of vouchers like Accounting Vouchers, or Inventory Vouchers as a whole.

MCA’s Statutory Report

Posted on by Tally Academy

India’s new, powerful statutory compliance… Supported on Tally technology!

MCA’s Statutory Report (in XBRL format) now available in Tally.ERP 9!

XBRL With an interactive checklist, Tally.ERP 9 makes generating MCA-compliant XBRL reports simple. What’s more, it reduces the chances of errors and allows the reuse of all configuration and mapping.

 

Who needs to file?

Ministry of Corporate Affairs (MCA), 7th June 2011: The following class of Companies are mandated to file their financial statements in XBRL format from Financial Year 2010-11 onwards:

  • All listed companies including their Indian subsidiaries (but excluding overseas subsidiaries)
  • Companies having a paid up capital of 5+ crore
  • Companies having a turnover of 100+ crore

MCA also proposes to include all companies from this Financial Year onwards.

Filing procedure:

  • MCA has published a library (taxonomy) of elements which can be mapped with the various accounting heads in the chart of accounts (CoA) of the company
  • The taxonomy elements also include non-financial data (Director’s details, Auditor’s report,
  • Director’s report, etc.) which needs to be filled
  • Creation of the instance documents (report in XBRL format)
  • Validating the instance documents with the free validation tool provided by MCA
  • Uploading the validated instance documents on the MCA portal. along with the prescribed forms (Form 23AC and Form 23ACA)

Note : Through their General Circular No. 69/2011, dated 30th November 2011 the last date for filing in XBRL format has been extended up to 31.12.2011 or within 60 days of the due date of filing, whichever is later

What is XBRL?

XBRL stands for eXtensible Business Reporting Language. XBRL is a language for the electronic communication of business and financial data which is revolutionizing business reporting around the world. It is one of a family of “XML” languages which is becoming a standard
means of communicating information between businesses and on the internet.

 

Four simple steps to generate/export MCA’s report from Tally.ERP 9

XBRL
 

Report Generation Made Easy with Tally.ERP 9

  • An interactive checklist (with drilldown and automated status update) is provided. It guides in complying with various MCA rules, to generate valid instance documents
  • Mapping of readily available financial data prevents re-keying in and hence reduces the chances of errors
  • The same mapping can be used for previous year’s data
  • Option to view the Balance Sheet and P&L as per the mappings done, before generating the instance document
  • Non-Financial Information can be typed, pasted or attached, as required
  • Export the instance documents at the click of a button
  • Above all, it’s a one-time activity – All mapping/configuration done this year can be reused in future years

Product Requirement:

  • Tally.ERP 9 Series A, Release 3.3
  • A Valid Tally.NET Subscription
  • MCA (XBRL) Report Generation subscription *

Getting Started with MCA Reports (in XBRL Format):

Click here for PDF document and for Flash Demo.

Special offer *

MCA (XBRL) Report Generation one year subscription comes FREE with all activations/upgrades of Tally.ERP 9 Release 3.3 and above done on or before 31st March, 2013

Banking in Tally.ERP 9

Posted on by Tally Academy

 

Banking_in_tally All businesses need to connect with their Banks. With even small businesses doing thousands of transactions per month, banking usually happens on a day-to-day basis. Presenting Banking in Tally.ERP 9 Release 3.0: powerful, new functionality with a powerful advantage for business managers. In fact, it’s so powerful that Banking gets its own new section within the product.Just what every business needs, the Bank allocation feature brings everyday bank- related chores right to your fingertips.

 

Highlights:

Multiple instrument and Mode of Transaction details in single voucher

Record and monitor multiple transactions in a single voucher using the new Banking feature. While the old system only captured the dates of transactions, this feature allows you to monitor transactions by Amount, Date, Instrument Number or mode (like NEFT, Cheque, DD, etc.), for a more complete picture. The ability to identify payment modes in the system and separate dates for each instrument eases bank reconciliation.

Instrument-wise reconciliation

Reconciliation can be done for each instrument rather than the entire voucher. The instrument details (number, date, etc.) are displayed for easier reconciliation.

In case of unseen items such as Bank charges, interest paid etc., these can be captured in a new voucher without discarding the BRS (Bank Reconciliation Statement) in progress. Further, existing vouchers can be altered in case of any discrepancy found during reconciliation.

Opening BRS

The new Banking feature allows you to manually record or automatically carry forward the un-reconciled bank transactions from the current year to the subsequent year (as Opening BRS). These can then be reconciled in the subsequent year.

Cheque printing configuration with Preview

Utilise the enhanced cheque printing configuration with print preview to reduce wastage. This has further been simplified to copy measurements from previous configurations.

Multiple cheque printing/capture

A separate “Cheque Printing” report (in the Banking section) has been introduced to let you print multiple cheque easily. This feature also lets you know if a cheque has been printed or not by a simple Yes or No against each cheque.

Since it is sometimes not possible to know which Amount/Favouring Name is going to be printed on which cheque leaf, cheque details can also be recorded after printing.

Payment advice printing

A system-generated payment advice (covering letter for payments) can be printed for a single or multiple vouchers.

Deposit slips printing

Deposit slips can be printed for a single cheque or multiple cheques, further simplifying Banking transactions.

 

Benefits:

  • Saves time
  • Reduces errors
  • Simplifies banking
  • Improves productivity
  • Improves traceability

Tally Online Certification

Posted on by Tally Academy
Paid Online Exam
…Get a Certificate on any Topic and prove your credentials!

Tally Online Certification

  • You can obtain a certificate of your Test Score by taking the Paid Online Tally Test (in one or more Tally subjects mentioned below).

 

  • A certificate from Tally Academy will additionally help you to prove your domain specific Tally and Accounting credentials.

 

  • These test(s) could also be used by Employers as a test of Tally & Accounting knowledge for their prospective employees.

 

Tally Certification Topics

Topics Exam fees (INR) Sample Certificate
Accounts Executive Rs 450 View Certificate
Accounts Manager Rs 1350 View Certificate
Godown Manager Rs 900 View Certificate
Godown Keeper Rs 450 View Certificate
Expert in Taxation (Services Tax, TDS, VAT & CST) Rs 1350 View Certificate
Accounting in Tally.ERP 9 Rs 450 View Certificate
Excise Assistant (Dealers & Manufacturers) Rs 900 View Certificate
Tally Administrator Rs 900 View Certificate
Payroll Rs 450 View Certificate
Service TAX Rs 450 View Certificate
TCS Rs 450 View Certificate
TDS Rs 450 View Certificate
VAT & CST Rs 450 View Certificate

 

To know more about Tally Online Certification click here

Tally Certification

Posted on by Tally Academy

Paid Online Tally Test @ only Rs.450

 

Getting this Certificate/Scorecard in Tally is especially good for those who…

  • Already have good working knowledge of Tally & Accounting, but do not have a valid Tally CERTIFICATE or
  • Have a certificate from any institute other than an authorized TallyAcademy , which is not considered as a valid credentials by most employers looking for Tally Professionals
  • Have got certified in older versions ( before Tally 9 ERP) of Tally.
  • Want to simply wish to upgrade their credentials for promotions and better jobs

 

Instructions for Paid Online Tally Test:

  • First register yourself at the TallyAcademy online portal (membership is Free). Click here here to Register
  • Make the necessary payment (payment instruction are given below)
  • After making the payment , please send the following details to test@tallyacademy.in
  • Your Full Name (As you want it to appear in the certificate), contact number and address
  • Email that you used to register at the Tally Academy Portal
  • Details of payment made, Cheque Number, Bank Name, Date
  • The topics that you want to get tested/certified for
  • After the confirmation of payment, your online exam ID along with the procedure to take the Online Tally Test will be sent to you by email.
  • Your exam Id will be valid for a complete week from the date of issue. So you will have to appear for the online test at anytime you so desire within that week.
  • Exam result (%) will appear as soon as you complete the online Tally Test.
  • The printed score card/certificate (Click here to view sample certificate) will be issued and couriered to your postal address, within fortnight form the day of exam.
  • The validity of the certificate is 2 years.

 

For more about Tally Certification click here

Available new stat 195 from 26th April, 2013

Posted on by Tally Academy

New Stat.900 Version is available free for existing Tally User

Major Enhancement are :

VAT :

To comply with the change in VAT rates of Bihar, Gujarat and West Bengal, the appropriate VAT/Tax Classifications for the new VAT rates have been provided. The value of entries recorded using these classifications will be currently captured only in VAT Computation report. In the forthcoming Stat.900 releases, the functionality will be enhanced to capture the values of entries recorded using these classifications in the respective fields of return forms.

Bihar : 

For change in VAT rate from 20% to 30% on tobacco products, the following VAT/Tax classifications are provided:

  • Input VAT @ 30% / Purchases @ 30%
  • Interstate Purchases @ 30%
  • Purchase From URDs – Taxable Goods @ 30%
  • Output VAT @ 30% / Sales @ 30%
  • Output VAT @ 30% to URDs / Sales @ 30% to URDs
  • CST @ 30% / Interstate Sales @ 30%
  • Input Tax Credit on Purchase From URDs @ 30%
  • Purchase Tax @ 30%

Gujarat : 

For change in VAT rate from 22.5% to 27.5% on tobacco products, the following VAT/Tax classifications are provided:

  • Input VAT @ 27.5% / Purchases @ 27.5%
  • Purchase From URDs – Taxable Goods @ 27.5%
  • Input Tax Credit on Purchase From URDs @ 27.5%
  • Purchase Tax @ 27.5%
  • Output VAT @ 27.5% / Sales @ 27.5%

West Bengal: 

For change in VAT rate on goods whose MRP is inclusive of tax, the following VAT/Tax classifications are provided:

  • Input VAT @ 4.76% / Purchases @ 4.76%
  • Input VAT @ 12.66% / Purchases @ 12.66%
  • Interstate Purchases @ 4.76%
  • Interstate Purchases @ 12.66%
  • Purchase From URDs – Taxable Goods @ 4.76%
  • Purchase From URDs – Taxable Goods @ 12.66%
  • Output VAT @ 4.76% / Sales @ 4.76%
  • Output VAT @ 12.66% / Sales @ 12.66%
  • CST @ 4.76% / Interstate Sales @ 4.76%
  • CST @ 12.66% / Interstate Sales @ 12.66%

Punjab : 

  • The list of Trade Names has been updated as per the TradeCommodityName.xls file provided by the Excise and Taxation Department.
  • The e-VAT functionality of Form VAT 18 and 19 has been enhanced as per the latest templates.
  • For increase in VAT rate from 20.5% to 50% on cigarettes, the following VAT/Tax classifications are provided.
    • Input VAT @ 50% / Purchases @ 50%
    • Purchase From URDs – Taxable Goods @ 50%
    • Output VAT @ 50% / Sales @ 50%
    • Purchase Tax @ 50%

The values of entries recorded using these VAT/Tax classifications will be captured in Form VAT 15, 16, 20, 23 and 24.

  • The Form VAT – 2 Challan and Form – II (CST) Challan have been enhanced as per latest statutory requirements.

 

Service Tax : 

  • The new Form ST-3 has been provided in adherence to notification number – 01/2013-Service Tax of the ACES.
  • New exception report – Update Service Category has been provided in Exception Reports menu to update Taxable Service to respective service category.
    During the period – July to September 2012, as per Department specifications, the service tax on taxable services was accounted as Taxable Service. As per the latest notification, the assessees have to file returns in new Form ST-3 for the same period based on the respective service categories.
    The new Form ST-3 can be generated, after updating the service categories of all  transactions categorised as Taxable Service from Update Service Category report.
  • The Type of Organisation selected in Company Service Tax Details (F11: Features > F3: Statutory & Taxation) gets captured in section A8 of Form ST-3.

Tax Deducted at Source: 

  • In the voucher printing screen of TDS Challan, the options to – print either the party name or name as per PAN and specify the cheque date has been provided. Based on the selection made the name and date will be captured in TDS Challan ITNS 281.

Payroll: 

  • In compliance with the Budget 2013-14, the following changes have been incorporated :
    • Income tax deduction (U/s 87A) of an amount equal to hundred per cent of income tax or an amount of ` 2000, whichever is less, for an assessee being an individual resident in India, whose total income does not exceed ` 5,00,000.
    • Surcharge of 10% for individuals whose taxable income exceeds ` 1 crore per year.
    • Income Tax Benefit on interest on Home Loan (First Time Buyer) U/s 80EE for an amount not exceeding ` 1,00,000.

And more….
Release details of Stat.900 version 195 (PDF file)

Download Stat 195