Author: Tally Academy

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

How to Become a Tally Partner

Posted on by Tally Academy

  Good News for those who are looking to be a part of authorised TallyAcademy Eduction Network

Your institute can become a TallyAcademy by applying for an audit, which is mandatory for the Stamp of Approval. The Stamp of Approval would earn your institute the identity of a TallyAcademy. This will be based on the result of the audit. There are certain quality criteria that your institute should meet to get the Stamp of Approval from Tally. A TallyAcademy will be subjected to periodic quality audits. By becoming an authorized TallyAcademy, your institute can benefit in multiple ways:

Benefits of a TallyAcademy

  1. Through our Quality Audit, recommendations would be provided to help you optimise your resources and enhance profitability.
  2. Your institute has the freedom to create your own courses that would help to address your market requirement.
  3. Your institute will be allowed to issue your own certificates with the TallyAcademy Logo to students who successfully complete courses.
  4. Your institute will gain visibility as an authorized TallyAcademy, on the Tally web site
  5. Your institute would be the preferred choice as execution partners for Government and corporate contracts, since you have the endorsement of Tally as a quality training centre

 

Quality Audit Parameters

In order to ensure that students are always provided with quality training, a TallyAcademy is evaluated on a periodic basis on the following parameters:

Infrastructure: The infrastructure of the centre should be such that it is conducive for learning. Our Audit will help you identify the gaps and help you to improve

Counseling: Entire process of counseling will be audited to ensure proper guidance to enquiries at the counseling desk. This would lead to proper career guidance & increased enquiry satisfaction which in turn will increase conversion ration

Course Content: You are allowed to create your own courses to meet market requirement. Through audit we will check and help you improve the courses to successfully meet market requirements

Certification Process: The process followed in distribution of participation/course completion certificate. The assessment tests conducted by the academy and certificates issuance process will also be evaluated here. This will help you in ensuring that the deserving candidate is only issued certificate

Complaint Redressal System: Customer satisfaction is the prime importance. We will evaluate the process of complaint handling and help you in improving customer/student satisfaction

Faculty: A good faculty is the biggest factor in success of any institute. Audit will help you identify the gaps and improve which would increase enrollments through positive referrals

Placement: Efficient placement assistance leads to increased WOM & enquiry conversions. Through Audit we will help you in evaluating quality of placement and scope of improvement

For more details about TallyAcademy Franchise click here

Tally.ERP 9 Series A Release 4.6 26th April, 2013

Posted on by Tally Academy

The new Tally.ERP 9 Release 4.6 is available now!

FREE for all users of Tally.ERP 9.*

Tally.ERP 9 is the latest offering of the Tally software series. As with all Tally products, rapid updates are made available for the lifetime of the product via periodic releases, thereby providing the high level of business capability that millions of users trust. This migration is recommended for all Tally 9 licenses.

New Features :

Performance :

  • Listing of batches in Item Allocations screen has been optimised.

Printing & Rendering :

  • 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..

 

Functional Enhancements :

Accounting Reports :

  • An option, F7: Bill-Party wise, is provided in Bills Receivable, Bills Payable, and Group Outstanding reports. Clicking this option will display a report that provides party-wise information on outstanding bills. Party-wise subtotals and age-wise details are also available in this report. The user, therefore, need not navigate to Ledger Outstandings report of the respective party ledger every time to view the due amount.

Excise for Manufacturers :

  • In the Invoice Printing Configuration of an Excise Sales invoice, the option Print Excise ED/SHE Cess in words separately, if set to Yes for printing, will remain enabled.
  • An option Re-Processor is added to the Nature of Purchase list that appears in purchase invoice and in Excise Details screen of party ledger master. This option is used to record purchase of raw material from re-processors who have not obtained excise registration, and details of the same will be captured in RG 23 A Part I.

Excise for Dealers :

  • Facility to print company logo on excise debit note is provided.
  • Supplier Invoice No. will now be automatically captured in the Excise Details screen of excise purchase invoice when an excise purchase order is tracked

Payroll :

  • Tally.ERP 9 is compliant with the following Budget 2013-14 changes:
    • Tax Rebate U/s 87A of an amount equal to hundred per cent of income tax or an amount of ` 2,000, whichever is less, for an assessee being an individual resident in India, whose taxable 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.

Service Tax :

  • Now, while using Auto Fill option in Payment voucher, Bank Ledger can be created by pressing Alt+C from Cash/Bank field of the Statutory Payment screen.
  • An option Print Category as Taxable Service is added to the F12: Print Configuration options for sales invoices, professional receipts, and advance receipts. Setting this option to Yes will print the service category as “Taxable Service” on the invoice/receipt, instead of the service category specified during voucher entry.
  • The following options have been added to the List of Organisations in the Company Service Tax Details screen of F11: Features > F3: Statutory & Taxation:
    • Limited Liability Partnership
    • A Firm
    • Hindu Undivided Family
    • Government
    • An Association of Persons/Body of Individuals
    • Artificial Juridical Person
    • A Local Authority
  • In keeping with the restoration of service-specific accounting codes, the service category Taxable Service in Tally.ERP 9 will not be available for recording entries dated 1.4.2013 and later.

TDS :

  • The field Tax Assessment Number is replaced by Tax Deduction and Collection Account Number in F11: Features > F3: Statutory & Taxation and the relevant TDS and TCS reports.
  • A new field, Cheque/DD Date, is provided in the Provide Details screen that appears when S: Stat Payment button is used to record payment entries for TDS and TCS. The date entered here will be captured in TDS Challan 281. Also, to capture the same, a new column Cheque Date has been provided in TDS Challan Reconciliation report.
  • The TAN entered in TDS/TCS Details screen of F11: Features > F3: Statutory &
    Taxation, and the PAN entered in party Ledger Creation/Alteration screen will be
    validated for structure. That is,

    • TAN will be checked for 4 alphabetic, 5 numeric, 1 alphabetic characters, in that order
    • PAN will be checked for 5 alphabetic, 4 numeric, and followed by 1 alphabetic characters, in that order. The 4th character will be checked for a valid deductee type (C, P, H, F, A, T, B, L, J, G).
  • An option Is Proprietorship Firm is provided in TDS/TCS Details screen of F11: Features > F3: Statutory & Taxation. The option has to be set to Yes so that the name entered in Name of person responsible field of TDS/TCS Details can be captured in TDS Challans and returns as the proprietor’s name, instead of the proprietorship firm’s name.
    In addition, a new field, Name on PAN/IT No. is provided in Ledger Creation/Alteration screen for party ledgers. This will ensure that the name as per PAN is printed on TDS Certificate and returns.
  • An option Show Name on PAN/IT No. is provided in F12: Configure options of the following drilldown screens in TDS Computation report:
    • Expenses & Advances
    • Exempt in lieu of PAN available
    • Taxable Expenses & Advances
    • Deducted, Deducted at Normal rate, Deducted at Lower rate, Deducted at Higher Rate (No PAN)
    • Balance Deductable, Balance Deductable at Normal rate, Balance Deductable at Lower rate
      Setting this option to Yes will display the column Name on PAN in the aforementioned reports. Information entered in the Name on PAN/IT No. field of party ledgers will be captured in this column.
  • The TDS Computation report will by default sort information based on dates.
    In addition, the following Sorting Methods are provided under F12: Configure options, when drilled down to the Party Wise and Expense Wise screens from TDS Computation report:

    • Ref No (Decreasing)
    • Ref No (Increasing)
    • Nature of Payment (Decreasing)
    • Nature of Payment (Increasing)
  • An option Show PAN Number is provided under F12: Configure of the drill down screen for Exempt in lieu of PAN available in TDS Computation report.
    Note: Tally.ERP 9 Series A Release 4.6 is compatible with Stat.900 Version 188 onwards.

And more……

 

The highlights of this release are listed below.

Accounting Reports

  • View all Party Outstandings in Receivables, Payables and Group Outstanding reports with the new option ‘Bill-Party wise’ for a quick analysis

Payroll

  • As per the Budget 2013-14 , the following changes are supported:
    • Tax Rebate U/s 87A of an amount equal to a) Rs. 2,000 per annum or b) Total tax amount whichever is less, for resident individuals with total taxable income up to Rs. 5,00,000
    • Surcharge of 10% for individuals whose taxable income exceeds Rs. 1 crore per year
    • Income Tax Benefit on interest on Housing Loan (First Time Buyer) U/s 80EE

Printing

  • Now ZOOM IN up to 600% in print preview of all reports / invoices using mouse and keyboard for enhanced visibility

TDS

  • TAN and PAN structure will be validated during creation to eliminate errors in filing returns
  • Now, Proprietorship firms can print TDS Challans and returns with proprietor’s name , as mentioned in PAN
  • TDS Computation report (Party/Expense Wise) can now be sorted based on Date, Ref No . or Nature of Payment

Tally.ERP 9 Feature Summary:

  • Quick to install and allows incremental implementation
  • Easy to customise
  • Powerful remote capabilities to boost collaboration
  • Audit & compliance services
  • Integrated support centre
  • Security management
  • Statutory processes
  • Manufacturer’s excise
  • Payroll

Click here for release notes

Click here for download

Tally.ERP 9 Online Tests

Posted on by Tally Academy

Try these FREE Tally Tests on various aspects of business accounting and business environment, using Tally.

Now you can test your knowledge of Tally And Accounting. … Try the FREE Tally Quiz!

You can test your knowledge on any of the topics (or specific topics related to your domain/work or all the topics if you wish so) by taking FREE Online Tally Test(s). Try all the tests to gauge your knowledge on various aspects of Tally & Accounting.

This is your opportunity to get certified in Tally …Get a score card/certificate and prove your credentials!
  • You can also obtain a certificate of your Test Score by taking the Paid Online Tally Test (for one or more of the mention topics).
  • 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.

 

For more details click here