Tally Software

Purchasing of Tally.ERP 9 Multiuser or Single User Software

Job Work In/Out in Tally

Posted on by Tally Academy

Job Work In/Out

jobwork-inout The Job Work feature supports outsourced ‘jobs’ as well as inward ‘orders’ to businesses such as ancillary units. Solving issues related to inventory tracking and profit assessment, it helps streamline operations: What raw materials need to be shipped to the job worker? How many finished goods are expected and when? How much raw material is lying in the job worker’s factory? How to manage multiple job workers…

Item Cost Tracking

Item Cost Tracking refers to accumulation of costs and revenue for Stock Items across various transactions. The track can be created with any transaction and then referred later in any transaction without needing the link to any master or configuration. Tracking the Procurement cost, Landing cost, Manufacturing or Production cost, Order cost/profit, Job cost/profit…allows analysis of the running cost and profitability of the item. The Item Cost and Profit Tracking feature is also useful in determining the Sale price of finished goods.

In addition, Job Work in Tally.ERP 9 allows:

  1. Multiple order tracking
  2. MI (Material In) matched against Work Orders and not Item Masters
  3. Value tracking including advance payments
  4. Item tracking and Accounting legs of each transaction
  5. Billing of own material utilised for Job Order undertaken
  6. Tracking of billable item status (material utilised for a Job Order and their billing status)
  7. Position of finished goods hence realise-able money value

Tally.ERP 9 Job Work feature allows Inventory tracking against Bill of Materials. Since it is a transaction Bill of Materials, it does not require changing at Item Masters level. It adjusts for external godown conditions when items sit in a job worker’s factory, providing visibility to the stocks held by the business at any time. Similarly, material received from the principal to the job worker can be classified in an Internal Job Work Godown which will not be available for trading. This gives a clear distinction between self-owned goods and the ones supplied by client. When advance payments have been made, the Work Order-wise reports provide a profit/loss dimension showing how much expense is booked. Inventory movement as well as profits can be determined on these transactions by allocating expenses such as travel of executives, shipping, insurance, salary and other overheads related to the Work Order.

Benefits:

  • Real time insight into materials movement and tracking
  • Accurate job costing
  • Suitable for different complexities –small job worker to larger operations
  • Supports accounting allocation (expenses/income)
  • Improved productivity and profitability
  • Auto fill of raw materials for execution
  • Good for just-in-time inventory
  • Enhanced logistics management and efficiencies

Income Tax for Salaries in Tally

Posted on by Tally Academy

Income Tax is Personal Again

incometax-for-individuals Tally.ERP.9 introduces a complete Personal Income Tax calculation. Simple to configure and run, it calculates Tax on the basis of Payroll/Expenses Vouchers and declarations made by the employee.

This exciting feature makes it possible to generate the Income Tax computation sheet and IT Returns. In addition, it will provide quarterly and yearly returns. With the Income Tax feature, calculating tax and submitting returns are made easy for both the organisation as well as the employee.

Highlights of the Income Tax feature include:

  • Simple to configure
  • Predefined Rules set by Income Tax Dept. will be updated as and when rules are changed
  • Offers a manual override
  • Hides complexity
  • IT Returns come filled
  • Provides Forms 16, 16AA, 12BA plus quarterly 24Q and yearly 24 in hard copy plus ‘e’ formats

Benefits:

  • Accuracy
  • Speed
  • Reduced paperwork
  • Reduced manual entries hence less errors and better productivity
  • All returns handled from computation to returns

Available new stat 196 from 15th May, 2013

Posted on by Tally Academy

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

Major Enhancement are :

VAT :

Assam : 

  • The e-CST feature is introduced to export data of Form No. III using Excel Spreadsheet format to excel template as prescribed by the Commissionerate of Taxes.
  • The functionality of physical and e-VAT Form 13 – Monthly, Quarterly and Quarter End return is enhanced as per the latest excel template provided by the Commissionerate of Taxes.

Delhi : 

  • In journal voucher, the VAT flag- Reversal of Input Tax Credit on Closing Stock is provided to record reversal of input tax credit on closing stock.
  • On selecting the VAT flag – Adjustment Towards Refund Claim in journal voucher, the field – Provide details will be displayed to enter bank details. The details entered here will be captured in the respective fields of box R10 of Form DVAT 16.
  • In Print Report screen of VAT Forms and Annexures, the From and To dates of the quarterly period gets displayed based on the Current Date set in Gateway of Tally.
  • While generating physical and e-VAT Annexure 2A and 2B, the option – Consolidate URD Values will be displayed. The values of all purchases and sales made from unregistered dealers will be:
    • Consolidated and captured if this option is set to Yes
    • Captured party-wise if it is set to No.

Gujarat : 

  • The functionality of Form 201 is enhanced to capture the values of entries recorded using VAT/Tax classifications provided for 27.5% VAT rate

Punjab : 

  • In the Print Report screen of Form VAT 15, 16 and 20, the option – Round Off Form Values is provided to capture values by rounding-off to the nearest rupee.

Himachal Pradesh : 

  • The functionality of Form VAT-XV, Form VAT XV-A and CST Form I is enhanced to capture the values of entries recorded using VAT/Tax classifications provided for 1.50% CST rate.
  • The option – Consolidate Retail Sales is provided to capture the aggregate of retail sales in physical and e-VAT Annexure LS-1.

Maharashtra: 

  • The functionality of Form 231, 233 and CST Form III(E) is enhanced to capture values of entries recorded using the VAT/Tax classifications provided for 1.10% VAT rate

West Bengal : 

  • For increase in VAT rate from 25% to 35% on cigarettes, the following VAT/Tax classifications are provided.
    • Output VAT @ 35% Special Rate / Sales @ 35% Special Rate
    • Input VAT @ 35% Special Rate / Purchase @ 35% Special Rate
    • Interstate Purchases @ 35%
    • ST @ 35% / Interstate Sales @ 35%
  • The functionality is enhanced to capture the values of entries recorded using VAT/Tax classifications provided for 5%, 14.5%, 25% and 35% VAT rates in:
    • VAT Forms – Form 14 and Annexures – A, B, D, F and Sales Returns
    • CST Forms – Form I and Annexures – D and Sales Returns.

Excise for Manufacturers : 

  • The challan number, date and BSR code provided while recording excise payment voucher gets captured in Form ER-1, ER-3 and ER-8.
    For multiple Excise Duty payments recorded in a tax return period, the challan number, date and BSR code entered in each payment voucher gets captured against the respective duty details in Form ER-1, ER-3 and ER-8.
    Similarly, the challan number, date and BSR code entered for payment towards Arrears, Penalty and Interest gets captured in Form ER-8.

Payroll: 

  • The functionality of ESI e-return is enhanced as per the latest template – MC_Template.xls provided by the ESI Corporation.

And more….
Release details of Stat.900 version 196 (PDF file)

Download Stat 196

Pre-Closure Of Orders

Posted on by Tally Academy

Take Control Of Orders – Alter/Edit Purchase Orders On The Fly

pre-closureoforders The problem of variation in ordered quantity is common enough. Sometimes, delivered quantities are less than the quantity ordered. Or, the purchase manager might want to stop delivery of further goods after having received part of the order. Pre closure of Orders has been provided in Tally.ERP 9 to close pending orders for perfect MIS reports.

Now, pending orders and order cancellation are no longer issues. With Pre Closure of Orders there’s no need to make additional entries to close orders and no necessity of amending existing orders.

For example, a sales order is made for 100 items and the sales invoice is raised against it with staggered delivery. The first batch of 50 items is delivered, followed by a second of 25. At this stage the buyer decides that he needs only 75 of these items instead of the original quantity of 100. Previously, the seller could not close this deal and the sales order would always be listed under ‘Pending Sales Orders’. Pre Closure of Orders allows such a sales order to be manually closed from the list of ‘Pending Sales Orders’ or from the Voucher, while showing the actual delivery and sale.

 

Advantages of Pre Closure of Orders include:

  • Accurate Pending Order summaries
  • Improved system performance as it does not have to calculate outstandings every time it is started up
  • Closure of orders possible either from the Voucher or from Reports
  • No Order adjustments
  • Easier management of material
  • Reduced labour and unnecessary handling
  • Prevents losses from dead stock
  • Easy to use
  • Flexible

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

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.

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

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