Tally Tips

How to hide or protect your data in Tally ERP 9

Posted on by Tally Academy

Data is more important and crucial for everyone. There are several ways to protect your data from unwanted people. Its upto you, from whom you want to protect your data or hide your data.  The technique which we can use in Tally is either

Security Control : (protect from people within our Company)

Tally Vault Password : (protect from outside people eg. Income tax, Sales Tax person)

Simple steps
Gateway of  Tally > Comp Info (Alt + F3) > Alter > Company Alteration Screen
Enable Tally Vault and Security Control
Hide and Protect Tally Data

Setting Credit Limit in Tally ERP 9

Posted on by Tally Academy

You can set credit limit for Sundry Debtors and Sundry Creditors in Tally.ERP 9.

When outstanding amount exceeds the credit limit, Tally.ERP 9 will not allow any invoice beyond that limit unless modified.

Example :

You can set credit limit of Rs. 40,000/- for the customer’s ledger and raise one invoice amounting to Rs. 2o,000/-, subsequently you can also try to raise another invoice amounting Rs. 25,000/-

To enable credit limit, set Maintain Budget and Control to Yes in F11 > Accounting Features

To set credit limit for customer :

Go to Gateway of Tally > Accounts Info > Ledgers > Ledger > Set the credit limit

Setting Credit Limit in Ledger

After the first invoice is raised for Rs. 20,000/-, try to raise the second invoice for Rs. 25,000/-. Here, Tally.ERP 9 will restrict from saving the voucher

Exceeding Credit Limit

Master Synchronisation

Posted on by Tally Academy

Upcoming Feature :

Master synchronisation in Tally.ERP 9 lets businesses set common Master behavior at the Head Office or any central location. When Masters are altered, the change is reflected at the other end without duplicating or creating a new Master-streamlining the process across locations and avoiding Chart of Accounts complication.

Benefits:

•  Improved speed and better performance
•  No duplication one Co A across HO and all locations
•  More accurate reports
•  Simple to manage
•  Simple accounting no need to spend time eliminating extra vouchers
•  Better command over reports

Hardware Requirement for Tally.ERP 9

Posted on by Tally Academy

To install Tally.ERP 9, the user needs to have administrator rights (Create, Write, Update, Modify and Delete permissions). Multilingual users must ensure that the operating system supports multiple languages. The Hardware requirements and Operating system required for a Client-Server and a standalone computer are as described below:

Particulars Recommended Configuration
Processor Intel Pentium IV or above and Equivalent
RAM 512 MB or more*
Hard Disk space 60 MB Minimum (Excluding Data)
Monitor Resolutions 1024 x 768 or Higher*
Operating System Microsoft Windows 7/Vista/XP/2003/2000/NT/ME/98

* Tally.ERP 9 will work on lower configurations too; however Tally do not recommend the same.

Opening balance for Input Tax Credit

Posted on by Tally Academy

How to  provide the opening balance for Input Tax Credit in a new Company?

Yes, it is possible to provide the Opening Balance for Input Tax Credit in a newly created company by giving the amount in the Opening Balance field followed by Dr for the Input VAT Ledger grouped under Duties & Taxes and Type of Duty/Tax as VAT. The opening balance will be displayed in the VAT Computation and the respective Forms. Selection of Vat/Tax class is optional.

Tally.ERP 9 – The Perfect Fit For your Trading Business

Posted on by Tally Academy

How Tally.ERP 9 is benefit to Trading Organization :

Sales Manager – find how your sales team can benefit using Tally.ERP 9

Tally.ERP 9 empowers Sales Management as you can get an overall view of sales. you can check the sales summary and drill down to sales transactions and view the salesmens productivity.

How will you benefit by using Tally.ERP 9?
• Know your Customer: Classify your Customers and get to know who your Top Customers are? Maintain contact details of your Top Customers with Tally.ERP 9 – so you have quick access to the information you need
• Manage different sales types such as cash sales, credit sales & counter sales effectively
• Delivery delays that affect your Customer relationships will now be history as you can commit based on item availability at your nearest locations
• See your Sales Registers with a single click and drill down for details. View receivable status and send out email reminders to your debtors
• Maintain sales quotes and perform your sales pipeline health check

Purchase Manager – find out how you as a purchase manager can benefit using Tally.ERP 9

Procurements using Tally.ERP 9 is a fantastic experience for you as a Purchase Manager. A quick view on the items below reorder level and the item costs as per your last transaction will give you a feeling of comfort when you are preparing for your purchases.

How will you benefit by using Tally.ERP 9?
• Group your Vendors as per your priorities and get to know who your Preferred Vendors are? Maintain contact details of your suppliers with Tally.ERP 9 so you have quick access to the information you need
• Manage rush order situations with ease and fulfill your process requirements at leisure – yes a flexible software such as Tally.ERP 9 will give you that luxury
• you have different types of purchases done such as import purchase, inter state purchase and intra city and have different business terms
• Track vendor performance such as timely supply, quality, rejections
• Classify your suppliers as per statutory requirements as registered and unregistered dealers, to make the dealings easier

Stores In-charge / Warehouse Manager – find out how you as a stores in-charge / warehouse manager can benefit using Tally.ERP 9

Inventory movement, tracking and maintaining has become amazingly easy with Tally.ERP 9. you can get a complete grip of stocks in every nook and corner of your warehouse. Will make you more happy when you will be able to trace them across warehouses spread across the country.

How will you benefit by using Tally.ERP 9?

• Item groups help your stores executives to identify fast moving, high value and fragile items so that you can manage them accordingly in the right racks and bins
• Track with ease, the small toothpaste pack in your 50,000sq.ft warehouse that is urgently required by your customer
• Wonder how easily you can track the items that are scattered in different warehouse locations, customer location and in transit with Tally.ERP 9
• your bulk purchase of items in one quantity and storing in other quantity and shipping in a 3rd quantity addressed!
• your Bank wants a FIFO valuation for your items, wherein your management wants a LIFO valuation – not to worry when you have Tally.ERP 9

Accountant – find out how you as an accountant can benefit using Tally.ERP 9

Tally.ERP 9 is synonymous to Accounting and you the Accountants are our guiding force for many years. For budding Accountants this section gives a quick overview of Tally.ERP 9

How will you benefit by using Tally.ERP 9?

• Manage the entire cash to cash cycle
• Provide instant Financial Reports to the stakeholders
• Structure your Chart of Accounts to suit your accounting needs
• Compliance to local statutory requirements and be up-to-date
• Ease at which you can drill down from a Financial Report to a transaction level makes accounting a breeze

Business Owner / CEO – know your one stop guide to take that important decision

Tally.ERP 9 is a great tool in the hands of you as a Business Leader as you can get a holistic view of your business with just a click and drill in to details that need attention at the moment. you can check the cash flow situation of the company and also the profitability of your divisions.

How will you benefit by using Tally.ERP 9?

• Free up your time for business growth
• ‘Manage by exception’ your daily responsibilities by simply checking what had not happened that must have – and ultimately improve your business productivity
• See your business profits, costs, periodic transactions and more in a single view and drill down for details
• Tally.ERP 9 interacts with everyday applications, including Microsoft® Office, so you can view reports & make informed decisions
• Be up and running ‘in the day one’ as Tally.ERP 9 is ‘easy to learn and use’ and adapts to your business needs