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Stock Items in TallyPrime: Explained in 4 Easy Ways

Stock items , also known as inventory items, are the core elements representing the products or goods you buy, sell, or manage within TallyPrime.

They hold crucial information about each item in your inventory, facilitating efficient stock tracking, accurate accounting, and informed inventory management decisions.

Here’s a detailed explanation of stock items in TallyPrime:

Table of Contents

1. Understanding Stock Items in TallyPrime:

1. inventory representation:.

Stock items act as individual entries within your inventory system.

Each item represents a specific product or good, providing comprehensive details like name, description, unit of measure, purchase and sales prices, tax information, and current stock levels.

2. Accounting Integration:

Stock items are linked to your accounting system.

Transactions like purchases, sales, stock adjustments, and inventory write-offs are all recorded with reference to specific stock items, ensuring accurate tracking of inventory costs and their impact on your financial statements.

3. Inventory Management:

Stock items empower you to manage your inventory effectively.

You can track stock levels, identify low-stock items, generate reorder points, and optimize inventory control strategies to avoid stockouts and minimize carrying costs.

2. Creating and Managing Stock Items:

1. access creation:.

There are two primary ways to create stock items in TallyPrime:

• Gateway of Tally : Go to the “Gateway of Tally” , select “Create” and then “Stock Item” .
• Inventory Info : Navigate to the “Inventory Info” option and choose “Stock Items” > “Create” .

2. Define Item Details:

Provide a clear and descriptive name for the stock item . You can also enter a stock item code for easier identification.

3. Specify Unit of Measure:

Select the appropriate unit of measure ( UoM ) for the item, such as pieces, meters, kilograms, etc. You can also define alternative UoMs if applicable.

4. Purchase and Sales Information:

Enter details like purchase price, sales price, and any applicable discounts or margins.

5. Tax Settings:

Specify the tax rate (e.g., GST) that applies to the stock item. You can link the item to a specific tax group for easier tax management.

6. Inventory Tracking:

Set opening stock quantity and value (if applicable) for the item, indicating the initial stock level in your inventory.

7. Stock Group Assignment:

Assign the stock item to a relevant Stock Group (explained earlier) to categorize your inventory for better organization.

8. Manage Existing Items:

TallyPrime allows you to edit existing stock items to update details, adjust stock levels, or modify other information as needed.

3. Benefits of Using Stock Items:

1. accurate inventory tracking:.

Stock items ensure precise tracking of your inventory levels for each product.

This allows you to maintain optimal stock levels, avoid stockouts, and minimize the risk of excess inventory.

2. Improved Cost Management:

By tracking purchase prices and inventory movement, you gain insights into your inventory costs.

This empowers you to make informed decisions regarding pricing strategies and cost optimization.

3. Efficient Inventory Reporting:

Stock items facilitate the generation of detailed inventory reports .

You can analyze sales trends, identify slow-moving items, and make data-driven decisions to optimize your inventory management practices.

4. Enhanced Sales and Order Processing:

Stock item data is crucial for order processing and sales fulfillment.

Accurate stock information ensures smooth customer transactions and avoids order fulfilment delays due to stockouts.

4. Things to Consider about Stock Items in TallyPrime:

1. detailed information:.

Provide comprehensive and accurate information when creating stock items.

This ensures proper inventory tracking, accounting integration, and generation of reliable reports.

2. Unique Identification:

Maintain unique stock item names and codes to avoid confusion and ensure accurate data entry during transactions.

3. Regular Updates:

Regularly update stock item information, especially stock levels, to reflect current inventory status and maintain data accuracy.

In conclusion, stock items in TallyPrime are the foundation of efficient inventory management.

By creating and managing stock items effectively, you gain control over your inventory, optimize stock levels, make informed decisions, and ensure the smooth operation of your business.

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Tally accounting software is a powerful tool that businesses can use to manage their inventory and stock. In this blog, we will provide a step-by-step guide to using Tally for managing inventory and stock.

Step 1: Set Up Inventory

Before you can manage your inventory and stock, you need to set up inventory in Tally. To do this, click on “Gateway of Tally” and select “Inventory Info”. Select “Stock Groups” and “Stock Items” to create and manage your inventory. Set up your inventory by creating stock groups, units of measure, and stock items.

Step 2: Create Purchase Vouchers

A purchase voucher is a document that records a purchase transaction. To create a purchase voucher in Tally, click on “Gateway of Tally” and select “Accounting Vouchers”. Select “Purchase Voucher” and enter the details of the purchase transaction, such as the vendor’s name, item details, quantity, and rate.

Step 3: Create Sales Vouchers

A sales voucher is a document that records a sale transaction. To create a sales voucher in Tally, click on “Gateway of Tally” and select “Accounting Vouchers”. Select “Sales Voucher” and enter the details of the sale transaction, such as the customer’s name, item details, quantity, and rate.

Step 4: View Stock Summary Report

The Stock Summary report in Tally displays the current stock position of your inventory items. To view the Stock Summary report, click on “Gateway of Tally” and select “Display”. Select “Inventory Books” and “Stock Summary”.

Step 5: Use Stock Journal Vouchers

A stock journal voucher is a document used to transfer stock from one location to another or to adjust the stock levels. To create a stock journal voucher in Tally, click on “Gateway of Tally” and select “Inventory Vouchers”. Select “Stock Journal Voucher” and enter the details of the stock transaction, such as the source and destination location and the item details.

Step 6: Use Batch-Wise Details

If your inventory items have batch-wise details, you can use this feature in Tally to manage the batches. To use batch-wise details in Tally, click on “Gateway of Tally” and select “Inventory Info”. Select “Batch-Wise Details” and “Batch-Wise Alterations”.

Step 7: Use Reorder Level

Reorder level is the minimum stock level at which you need to place a new order for a particular inventory item. To use the reorder level feature in Tally, click on “Gateway of Tally” and select “Inventory Info”. Select “Stock Items” and “Alter”. Enter the reorder level for each inventory item.

Step 8: Use Stock Valuation Methods

Tally offers various stock valuation methods, including First In First Out (FIFO), Last In First Out (LIFO), Average Cost, and more. To use stock valuation methods in Tally, click on “Gateway of Tally” and select “Inventory Info”. Select “Stock Items” and “Alter”. Choose the desired valuation method for each inventory item.

Step 9: Use Stock Transfers

If you have multiple locations or branches, you can use the stock transfer feature in Tally to transfer stock between locations. To use the stock transfer feature in Tally, click on “Gateway of Tally” and select “Inventory Vouchers”. Select “Stock Transfer Voucher” and enter the details of the stock transfer, such as the source and destination locations and the item details.

Step 10: Use Stock Aging Analysis

Stock aging analysis is a feature in Tally that helps you track the age of your inventory items. To use stock aging analysis in Tally, click on “Gateway of Tally” and select “Inventory Info”. Select “Stock Items” and “Ageing Analysis”.

Step 11: Use Manufacturing Journal

If you manufacture goods, you can use the manufacturing journal feature in Tally to record the manufacturing process. To use the manufacturing journal feature in Tally, click on “Gateway of Tally” and select “Inventory Vouchers”. Select “Manufacturing Journal” and enter the details of the manufacturing process, such as the raw material used and the finished goods produced.

Conclusion: Tally accounting software offers powerful features for managing inventory and stock. By following these steps, businesses can use Tally to manage their inventory efficiently and effectively. Remember, mastering Tally takes time and practice, but with the right guidance, anyone can use Tally to manage their finances and inventory. Consider taking an online course or consulting with a Tally expert to learn more about using Tally for inventory management.

If you’re looking to enhance your expertise in Tally, LearnTube has got you covered with an array of online courses tailored to your needs. With the help of our specialized learning app and WhatsApp bot, you can enjoy a seamless learning experience. Our platform offers an extensive range of courses that cater to both novices and seasoned learners. For valuable insights, explore our diverse selection of courses on our website .

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How to Maintain inventory in tally ERP 9 (Part I): Stock Groups

Posted on Last updated: September 27, 2021

Inventory management is one of the toughest business activities for small and growing businesses. Not only do you need to physically care for the stuff, but you also have to make sure that you don’t run out of some items or have too much of some other items.

Now the good news …

Tally provides outstanding features that make inventory management a lot easy. With not too much effort, you can probably get your inventory management system up and running.

As you record sales and purchases, Tally will keep track of your inventory, just as the point-of-sale system at the supermarket does when it scan items.

In this Tally Tutorials, you’ll learn how to maintain inventory in Tally using inventory masters such as stock categories , stock groups, and stock items.

Setting Inventory features in Tally ERP 9

Before you can track your inventory, first, of course, you need to tell Tally that you want to track inventory by enabling the inventory features. By default, most settings in Tally pertaining to inventory are set to No. You, therefore, have to set them to Yes before you can be able to work with Tally inventory features.

Turning on inventory features in Tally

To turn on the inventory features just follow the below steps:

• Whilst in the Gateway of Tally window, press F12 or click F12: Configure to display the Company Features menu. See screenshot:

From this menu, double-click Accounting Features (or press A on your keyboard for the same effect). Your screen should look remarkably similar to the one below:

• As seen in the above picture, under the General Category, set Maintain accounts only to No and press Ctrl+A to save the settings. You should now be able to see the Inventory Info. option from the Gateway of Tally under Masters. See screenshot:

Inventory Masters

When you click the Inventory Info. menu from the Gateway of Tally, the program opens up a menu called Inventory info. as in the picture below:

This menu contains items called Inventory Masters which collectively makes inventory management a lot simple. These items include Stock Groups, Stock Categories, Stock Items, Units of measure, Voucher Types, and Copy Allocation Details. But for beginners, our main focus will be on the first four items, Groups, Categories, Items, and Units of Measure.

Let’s now look at these inventory masters one after the other to get them all clarified.

Stock Groups in Tally ERP 9

Stock groups in Inventory masters are similar to that of Accounting masters. Groups are very helpful when it comes to classifying stock items. It enables you to locate stock items easily and report their details in statements.

With Tally stock groups, you can group stock items base on some common features such as the product type, the product brand, etc. For example, you can group stock items in a structure like this:

Thus, the above group structure can help you to locate items easily as well as produce reports on each of the groups, such as reports on Laptop computers or report on Desktop computers.

Creating a single Stock Group

To illustrate this very well, we’ll create a stock group called Lenovo Computers using the single stock group creation option. To create single Stock Groups in Tally ERP 9:

• Go to Gateway of Tally →Inventory Info. → Stock Groups → Create (Under Single Stock Group)

• Enter the necessary information as follows:

Name: Provide the name of the stock group you are creating. Example Lenovo Computers.

Alias: Enter another name for this group apart from the name you provide under the name field. You can use a numerical code for the alias name for easy access. This field is optional though.

Under: The under field lets you specify whether to create a primary group or a sub-group under another group.

While in the Under field, if you want to make the group a sub-group under another group, say Computers, which doesn’t exist in the List of Groups, you can press Alt+C to create a parent group.

Should Quantities of items be added? : This field is concern about the units of measurements for the items you will place under this group. All items to be placed under a particular group should have the same measurement units before their quantities can be added. For example, you cannot add quantities in liters to quantities in kgs. Thus, if the stock items that will fall under the group have different units of measurements, then quantities of items should not be added.

• Now press Ctrl+A to save the stock group

NOTE: If you specify Primary when filling the Under field, it means that you are creating a main group. But if you specify another group in the Under field, then you are creating a sub-group.

Creating Multiple Stock Group

Maybe you have more than one stock groups you need to create. Tally lets you create several stock groups all in one window.

To illustrate multiple stock group creation, let’s create the following main stock groups (under Primary):

• Dell computers
• HP computers
• Acer Computers
• Go to Gateway of Tally → Inventory Info. → Stock Groups → Create (Under the Multiple Stock Groups)

After selecting the CReate option, you should see a screen similar to the one below:

• Provide the details of the Stock Groups as follows:

Under Group: Specifying this field depends on the stock groups you are about to create. Are they main groups or sub-groups? And if they are sub-groups, are they under the same group? Or does each one of them fall under a different group of its own?

If they are all main groups or sub-groups but fall under different parent groups, then All Items should be chosen as it allows you the option to select different groups for different stocks. If they are not main groups but fall under one group as sub-groups, then the group they all fall under should be selected in the Under Group field.

In our case, we want to create all three groups under Primary. Thus we need to select All Items to enable us the option to specify the group.

S.No.: This is the serial number column that is generated automatically. Thus, you don’t need to specify the serial number. Tally will not even give you the chance.

Name of Stock Group: This is the column to list the names of the stock groups you wish to create. As you can see, you don’t have the option to give a second (or Alias) name for your stock group under the multiple stock group creation sections. However, you can do that by altering the ledger under a single ledger.

Under: This column depends on what you select in the under group field at the initial stage. If you select All items, it means you didn’t specify any parent group for your stock group, Tally will, therefore, allow you the chance to do so. But if you already select a group in the Under Group field, that group will be used as the parent group for all the stock groups and will be entered automatically for you in the Under column.

You can also create new parent Stock Groups from this field by pressing Alt+C simultaneously on your keyboard.

Should Quantities of Items be Added: This option has been explained under the single ledger creation. This option is concern about the units of measurements for the items you will place under this group. All items to be placed under a particular group should have the same measurement units before their quantities can be added. This way, you can know the total number of items under Dell Computers, HP Computers or Acer Computers.

For example, you cannot add quantities in litres to quantities in kgs. Thus, if the stock items that will fall under the group have different units of measurements, then quantities of items should not be added and can be set to NO . But if they have the same measuring units, this option may be set to Yes . (see screenshot)

• After providing all the relevant details, press Ctrl+A to finalize the multiple ledger creation.

Display and Alter Stock Groups

After the stock groups have been created, you may need to peek at all the stock groups to check for accuracy and maybe make some changes to some of them. Tally can help with that as it allows you the option to Display and Alter stock groups, both under Single and Multiple options.

Displaying Stock Groups

• To display stock groups, go to Gateway of Tally → Inventory Info. → Stock Groups → Display (You can either choose to display under the single stock group or multiple stock group)

• Tally will prompt you a List of Stock Groups. Select the group you want to display. If you are displaying under the Multiple Stock Group, you’ll have to select All Items from the list of stock groups to be able to display all available stock groups. Below is a picture of multiple stock groups in display mode:

Note: you cannot make changes to stock groups whilst in the display mode. To make any changes you need to use the Alter feature.

Stock Group Alteration

To Alter stock groups in Tally, go to Gateway of Tally → Inventory Info. → Stock Groups → Alter (You can either choose to Alter under the single stock group or multiple stock group)

• Tally will prompt you a List of Stock Groups. Select the group you want to Alter. If you are Altering under the Multiple Stock Group, you’ll have to select All Items from the list of stock groups to be able to Alter all available stock groups. Below is a picture of multiple stock groups in the Alteration mode:

• After making all the necessary alteration to the Stock Groups, press Ctrl+A to save the changes.

Deleting Stock Groups

You can also delete any stock group provided the following conditions are met:

• If the Stock group is not used by any sub-group or stock items.

Thus to delete a stock group, first, of course, delete the stock items and subgroups that fall under that group.

After deleting the stock items and subgroups, go to the alteration page of that group. Whilst in the alteration mode for that particular stock group, press Alt+D.

Tally will prompt you for confirmation to delete the stock group. Once you accept to delete, it will be deleted completely forever.

Next step: Inventory Management Part 2

My attempt to explain the concepts into details has called for a lengthy tutorial. That’s why I need to break this article into several parts.

In the next parts of this guide, you’ll learn how to manage stock units of measurement, stock categories , and stock items.

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Wednesday 8th of January 2020

how to maintain petroal pump accounting with inventory in tally erp 9

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This is one of the indirect expenses in accounts.

Effortless Stock Management: Mastering Stock Entry in Tally for Indian MSMEs

Introduction.

For Indian Micro, Small, and Medium Enterprises (MSMEs), managing inventory efficiently is crucial for smooth business operations. Tally, the leading accounting software, offers a comprehensive solution for stock management through its stock entry feature. This powerful tool enables Indian MSMEs to track their inventory accurately and make informed decisions regarding stock levels. In this blog, we will explore the benefits of stock entry in Tally and guide you through the process of mastering stock management for your business.

1. Understanding Stock Entry in Tally

Stock entry in Tally refers to the process of recording all stock-related transactions, such as purchase, sale, receipt, consumption, and transfers. By accurately maintaining stock entries, Indian MSMEs can gain real-time visibility into their inventory levels and avoid stockouts or overstocking situations. Tally’s stock entry feature allows businesses to monitor their stock movements and financial impact, facilitating better inventory planning and control.

2. Benefits of Using Stock Entry in Tally

a. Real-time Stock Updates: Tally’s stock entry feature ensures that inventory levels are updated in real-time after every transaction. This means you can always rely on accurate stock data, enabling you to make timely decisions regarding stock replenishment or clearance.

b. Precise Inventory Valuation: Stock entry in Tally automatically calculates the cost of goods sold (COGS) and the value of closing stock based on the selected valuation method. This accurate valuation helps Indian MSMEs assess their profitability and financial health with confidence.

c. Inventory Tracking and Analysis: With stock entry, you can track individual stock items, their quantities, and movement history. This analysis allows you to identify fast-selling items, slow-moving stock, and potential deadstock, aiding in better inventory management.

d. GST Compliance: Tally’s stock entry feature ensures seamless GST compliance by automatically calculating the applicable tax on stock transactions. This helps Indian MSMEs stay compliant with GST regulations and simplifies tax reporting.

3. How to Create Stock Entry in Tally

A. purchase entry: to record a purchase entry in tally, follow these steps:.

• Go to Gateway of Tally > Accounting Vouchers > F9: Purchase.
• Enter the supplier’s invoice details, such as invoice number, date, and party name.
• Select the stock items, their quantities, and rates.
• Tally will automatically calculate the total amount, including taxes.
• Save the entry.

b. Sales Entry: To record a sales entry in Tally, follow these steps:

• Go to Gateway of Tally > Accounting Vouchers > F8: Sales.
• Enter the customer’s invoice details, such as invoice number, date, and party name.

c. Stock Transfer Entry: To record a stock transfer entry in Tally, follow these steps:

• Go to Gateway of Tally > Inventory Vouchers > F7: Stock Journal.
• Enter the transfer date and narration.
• Select the stock items, their source and destination locations, and quantities.
• Tally will automatically adjust the stock levels between the source and destination locations.
• Tips for Efficient Stock Entry Management

a. Regular Updates: Ensure that stock entries are recorded promptly after each transaction to maintain accurate inventory data.

b. Stock Categories: Organize your stock items into categories for easier tracking and analysis. Tally allows you to create stock groups and sub-groups, simplifying inventory management.

c. Valuation Methods: Choose the appropriate stock valuation method in Tally based on your business requirements. Tally supports various methods like FIFO, LIFO, Average Cost, and more.

d. Reorder Levels: Set reorder levels for stock items to receive timely alerts when stock levels fall below the minimum threshold, helping you avoid stockouts.

e. Periodic Auditing: Regularly audit your stock entries to identify discrepancies and ensure data accuracy.

Efficient stock management is the backbone of any successful business, and Tally’s stock entry feature empowers Indian MSMEs to achieve just that. With real-time stock updates, precise inventory valuation, and comprehensive tracking, Tally’s stock entry simplifies inventory management and aids in making data-driven decisions.

Mastering stock entry in Tally allows you to optimize your inventory levels, reduce holding costs, and improve customer satisfaction through timely order fulfillment. Embrace the power of Tally’s stock entry feature and take your Indian MSME to new heights of efficiency and profitability in inventory management. Stay ahead of the competition with Tally, the trusted ally for every aspect of your business.

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Tally Practical Assignment with Solutions PDF

Tally Practical Assignment including GST with Solutions PDF for free download. Super Success Institute Tally computer training coaching classes day by day task. Notes is very useful for learn and practice the tally ERP 9 with GST. We found that student face problem to find the practice assignment of Tally. The Training Faculty of Super Success Institute compiled the practice task in this PDF for self study of students.

Our Tally Coaching Class Assignment / task includes following:-

Purchase Invoice Bills Sundry Creditors Sales Invoice Bills Sundry Debtors Purchase Invoice Bills Batch Wise Details

Brief of GST Business For Purchase & Sales Of Goods Business for Service providing Who are Compulsory For GST Registration Document Required For GST Registration GST  What is GSTIN Number Types of GST Rates GST Rates How GST Apply in Tally How GST Apply in Invoice SGST  (State Tax) & CGST (Central Tax) IGST (Interstate Tax) – Purchase GST Invoice Sundry Creditors Sale GST Invoice Sundry Debtors

Purchase Entry

Purchase Invoice with GST (Sundry Creditors)

Sales Invoice with GST Sundry Debtors

Entry of 25 Sundry Debater bills are given in the PDF

Download Tally Practice Assignment PDF

Document Name : Tally Practice Assignment with solution

Publisher : S uper Success Institute Muzaffarnagar and https://onlinestudytest.com Author : Super Computer Muzaffarnagar Number of Pdf Pages : 28 Quality Very good

Note : The Tally Practical Assignment with Solutions notes PDF are property of Super Success Institute Muzaffarnagar. We are sharing the google drive download link with due consent of Computer Coaching Institute.

Tally Prime Notes

• Fundamental of Accounting and Tally Prime Notes
• Introduction of Tally Prime Notes
• Groups and Ledgers in Tally Prime Notes
• Voucher Entry in Tally Prime Notes
• Create Stock Item in Tally Prime Notes for Practice
• Bill wise entry in Tally Prime
• Batch wise Details in Tally Prime Notes
• Cost Center in Tally Prime Notes
• Export Import Ledger in Tally Prime

More Tally PDF may be found – Tally Notes PDF Archives – SSC STUDY

Tally Prime Book PDF Free Download – SSC STUDY

Tally ERP9 Question Paper in Hindi – Online Study Test

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How To Easily Learn Tally Online With Practical Assignments

Every business needs accounting since it’s essential for everything from tracking expenses to choosing investments to calculating profits. we can say that learning tally is a terrific skill to have in the job market. even there’s no need to be physically present in the class to learn tally. nowadays, thanks to the internet you can learn tally online. this article has included how to learn tally online and everything you need to know about tally. there are so many institutes that provide tally courses online. so, let’s get started..

What is Tally?

• Tally stands for Transaction Allowed in Linear Line Yards.
• It is an accounting and inventory management application software.
• It which can record daily business transactions or accounting works like sales, purchases, payments received, banking or taxation, etc.
• The most popular way we can say that Tally is an Accounting Software.
• It is designed and developed by Tally Solutions which is a Bangalore-based IT Solution Company.
• In 1986, S.S Goenka was the founding chairperson of Tally Solutions Private Limited.
• Developed based on Accounting principles and Mercantile Law.
• It is simple yet powerful software.
• It is a window-based software.
• It is a stand-alone application.
• It is developed using the Tally Definition Language (TDL).
• It supports,

-Bookkeeping

-MIS report

Versions of Tally Software 

Other features of tally software.

• User-friendly accounting software
• Multi-lingual
• Excellent backup provisions
• Easy exit to an operating system
• Tally can maintain books of account either with inventory or without inventory.
• It can work with multiple company accounts simultaneously.
• Tally can get offline and online support.
• It can be installed on any version of Windows OS like NT, 2000, ME, 95, 98, XP, 7 Ultimate, Vista, and Windows 8. Etc.
• Many computerized accounting software requires numeric codes to maintain the account. But Tally pioneered that no accounting codes were needed.

Skills required in Tally

Career and scope in tally.

Having the skill set of Tally software may help you land your chosen job path quickly if you are someone wishing to start a futuristic career in the accounting field. It is because Tally is extensively used across all business sizes, from small to large across all sectors. 

90% of companies and businesses are said to use Tally software for their daily accounting tasks.

Additionally, the top MNCs and Retail businesses of all kinds, financial institutions, financial organizations (NGOs), hospitals, BPO and KPO sectors, and chartered accountant companies are among the many different industries that use Tally software.

You can have so many career choices in Tally. Such as-

• Inventory Manager
• Data Entry Operator
• Billing Executive
• Tally freelancers
• Tally Course Benefits
• Scope of Tally Courses in India

Job Profiles and Salary in Tally

The common job profiles offered in the organizations for accountants with Tally skill sets are-

Many students who are looking for Diploma Courses after 10th/12th or after graduation and planning to look for career opportunities in computer accounting can learn tally.

The purpose of the tally training course is to teach students the fundamentals of accounting and how to integrate such concepts with the tally platform. Although it’s easy to learn, for ways of operation one must grasp how the software works as well as be familiar with its applications.

Tally Jobs in India

Requirements for Learning Tally Online.

• Any student who wants to learn tally software online should have a computer or laptop with an internet connection.
• Nowadays it has become very easy to learn any software or anything from home.
• There are so many courses with certification and placement assistance in Tally you can opt for.
• Here we have listed some of the best Tally courses you can learn online.
• All of these courses are completely online, so there’s no need to show up to a classroom in person.
• You can access your lectures, readings, and assignments from reputable institutes anytime and anywhere via the web or your mobile device.

More Professional Courses from IIM SKILLS

• Digital Marketing Course
• Technical Writing Course
• Content Writing Course
• Investment Banking Course
• Business Accounting And Taxation Course
• CAT Coaching

Learn Tally Online: IIM SKILLS

IIM SKILLS is one of the global leading institutes that provides professional courses in various subjects including writing, marketing, accounting, etc.

The tally master course by IIM SKILLS is one of the best for getting hands-on experience. It is a comprehensive training program that covers all of Tally’s topics and features. Students learn precisely how to manage and maintain accounts, inventory, GST, and payroll at Tally in the course modules. The training module is particularly informative because it starts from the basics, providing a foundation for your understanding of Tally. Also, a variety of practical assignments and tasks are included to ensure that students grasp the subject well. IIM SKILL’s professional guidance allows one to interact, clear doubts and learn more effectively.

Course Name: Tally Course

Duration of the Course: 18 Hours of Self Learning, 20 Hours of Lecture

Mode of the Course: Online

Fees: Rs.2, 900 + 18% GST

Course Syllabus:

Course offerings:.

• Access to Learning Management System (LMS)
• Self-Paced Learning
• Software Tools
• 60+ Hours Practical Assignment
• Internship Opportunities
• Dedicated Placement Cell
• Govt. of India Recognized Certification

Certificate Availability: Yes

Contact Information:

Email ID: [email protected]

Phone Number: +91 9580 740 740

Learn Tally Online: Tally Training

In-depth information is covered in the Tally ERP9 online course with GST to match the industry’s accounting standards. With the use of real-world examples and tally entries, Tally Training not only explain the principles but also show you how to practically apply them in your day-to-day accounting process.

Course Name: Tally ERP9 Expert Course

Duration of the Course: 1 or 2 Months

Fees: Rs.1800

Couse Syllabus:

• Learning in Hing-lish language
• DVD(Videos + eBook PDF)

Contact Information

Phone Number: +91 9081211174

Learn Tally Online: Vskills

Intelligent Communication Systems India Limited (ICSIL), a department of the Indian government, manages the skills certification programs.

Their certification programs help students measure and exhibit the skills that have high demand and business value. Vskills Tally ERP9 course provides students with a clear understanding of accounting as well as the necessary practical aspects. Thanks to their self-paced training, even newbies can gain from the course’s worthwhile teaching.

Course Name: Certificate in Tally ERP9

Duration of the Course: 19 Hours

Fees: Rs.3, 499

Couse Syllabus: 

• Introduction to Tally ERP9
• Stock and Godwon in Tally
• Groups, Ledgers, Vouchers and, others
• Reports in Tally ERP9
• Back and Restore in Tally ERP9
• Tally.NET in Tally ERP9
• Government Certification
• Lifelong e-learning access

Phone Number: +011 4734 4723

Recommend Read,

• Advanced Tally Courses
• Tally ERP 9 Certificate
• Learn Online Tally
• Tally Training Benefit
• Tally Courses Uses
• Tally Course Eligibility

Learn Tally Online: LearnVern

LearnVern teaches students in the user’s native language. You can learn their Tally courses in Hindi.

Their method of instruction encourages critical thinking, learning by doing, and teaching by example. To help students in remembering the subject better, their Tally course material is enhanced with graphics, animations and, photos. LearnVern also gives practical training through assignments and tests.

Phone Number: +91 88490 04643

Learn Tally Online: UDEMY

Udemy is one of the best online platforms that provide various Tally certification courses. All of these courses are accessible from anywhere at affordable prices. Here we’ve listed three courses among others with the highest rating. You will learn how to use the tally program for payroll, audit, TDS, and GST accounting of any organization.  Their tally course provides students the chance to work on real-time projects in addition to assignments.

• Assignments
• Access on Mobile and TV
• Full Lifetime Access

Please, go to their official website for further details.

Learn Tally Online: Coursera

Students who want to build a career in bookkeeping or want to learn how to manage their account books, Coursera offers the best Tally Bookkeeper professional certificate course.

In their unique 4-month Tally Book Keeper Professional Certificate program, three separate Tally software-related courses are offered. It comprises most of the theoretical and instructional modules. You have to take the course in the specific order listed because the content builds on the previous session.

Program Name: Tally Bookkeeper Professional Certificate

Fees: You can enroll for free.

• Interview Prep

Learn Tally Online: InternShala Trainings

InternShala is an Ed-tech company that provides live, interactive learning in digital format.

Their Online Tally course has covered all the accounting-related concepts. They also provide quizzes and assignments after completing every module to revise your knowledge. 

Duration of the Course: 6 Weeks, 1hr/day (Flexible Schedule)

Fees: Rs.4499

• Basic Concepts of Accounting
• The world of Tally
• Accounting process in Tally
• Bank reconciliation statement
• Tax Deducted at source (TDS) & Collected at Source (TCS) accounting in Tally
• Payroll in Tally
• Goods and Service Tax (GST) accounting in Tally
• Data extraction from Tally
• Some extra topics
• Final training project
• Placement Assistance
• Learn in Hindi
• 1:1 Doubt Solving
• Hands-On-Practice

Learn Tally Online: FITA Academy

Tally Online courses at FITA Academy offer comprehensive instruction in the tally ERP9 software from Journal Entries to finalizing accounts, including managing GST and other taxation. 

You will learn the ins and outs of accounting and finance-related Tally. The modules are covered from both basic and advanced standpoints to help student comprehension of the subject better. Their online Tally course also includes real-world assignments to meet industry standards.

Course Name: Online Tally Course

Duration of the Course:

• Tally-Advanced accounting professional-basics in financial accounting
• Introduction to Tally
• Configuring Tally ERP9
• Company Management
• Master- Ledgers and Groups
• Understanding Vouchers in Tally
• Tally ERP9 reports
• Inventory configuration in Tally ERP9
• Managing inventory using Tally ERP9
• Goods and Service Tax (GST)
• Purchase and Sales reports
• GST reports and returns
• Using tally to manage point of sales (POS)
• Bank reconciliation
• Tally-expert accounting professional
• Payroll accounting
• More advanced topic
• Live Projects
• Instructor-led Live Class
• Flexibility
• Placement Support

Phone Number: 93450 45466

Learn Tally Online: Frequently Asked Questions

Q. can i learn to tally online through a laptop.

Answer: Yes, Students who wish to study tally software online should have access to a computer or laptop with an internet connection.

Q. Which Tally is best for beginners?

Answer: The latest version of Tally Prime is easy to learn. There is no longer a need for prior expertise or specialized training in Tally. You can easily use Tally Prime for your regular accounting tasks with only a simple installation and setup.

Q. Can learning Tally online is difficult?

Answer: Beginners have the choice of enrolling in expert courses provided by reputable institutions or learning the program on their own with the help of blogs and videos that are easily available online.

Q. Where can I practice Tally?

Answer: The Tally Software Education version is available on  www.tallysolution.com  website. You may practice it by downloading it for free.

Q. Which industries can one enter after completing the Tally course?

Answer: The private and public sectors provide a ton of options. Banking, finance, business manufacturing, IT industries, and so on. You can also work in sales, marketing, insurance, and HR.

Learn Tally Online: Conclusion

That’s all about how to learn tally online. In this article, we have focused on tally software, its feature, also the scope and career opportunities in tally. And institutions that provide tally training online. We hope this might have helped to get some insights about tally.  If you plan to learn tally online, you can get in touch with the experts of this institute that will provide you with the information and exposure you need in this area.

Author: Swati Varli

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Record Stock Transfers or Branch Transfers as GST Purchases and GST Sales

In TallyPrime, you can easily record stock transfers or branch transfers as GST purchases & GST sales. You will need to record such transactions in case of transfer of material from one branch to another. In such cases, GST applicability depends on whether the receiving branch has the same GSTIN or a different GSTIN.

Stock transfer across branches includes scenarios such as:

• Transfer of goods to another branch (including godown to godown) based on the demand
• Transfer of finished goods to godown or warehouse for further supply or distribution
• Transfer of semi-finished goods from the manufacturing unit to another unit for further processing

Local Transfer

In case of local branch transfer, the branches are located in the same state. If the receiving branch operates with the same GSTIN, then GST is not applicable. On the other hand, if the receiving branch or processing unit operates with a different GSTIN, then Central Tax and State Tax are applicable.

Local transfer to a branch with same GSTIN

In this case, stock transfer occurs between branches with the same GSTIN. To record a local inward branch transfer, you need to create ledgers for the branch and purchase account. Then record a receipt note.

To create branch and purchase ledgers

• Gateway of Tally > Create > type or select Ledger > and press Enter . Alternatively, press Alt + G (Go To) > Create Master > type or select Ledger > and press Enter .

To record local inward branch transfer

• Gateway of Tally > Vouchers > press F10 (Other Vouchers) > type or select Receipt Note . Alternatively, press Alt+G (Go To) > Create Voucher > press F10 (Other Vouchers) > type or select Receipt Note .
• Select the branch ledger for Party A/c name .
• Select the Purchase ledger created for branch transfer.

Interstate Transfer

In case of an interstate branch transfer, stock transfer occurs between branches located in different states. Here, different GSTINs are involved. Therefore, Integrated Tax is applicable.

Interstate outward branch transfer

In this case, stock transfer occurs between branches with different GSTINs. To record an interstate outward branch transfer, you need to create ledgers for the branch and sales account. Then record a sales invoice.

To create branch and sales ledgers

If the GST details are set at the stock item level, there is no need to set the GST details again in the purchase and sales ledgers. However, enable Is GST Applicable in the ledgers.

To record an inward branch transfer

• Gateway of Tally > Vouchers > press F8 (Sales). Alternatively, press Alt + G (Go To) > Create Voucher > press F8 (Sales).
• Select the Sales ledger created for branch transfer.
• Select the stock item which is defined with the tax rate, and enter the Quantity and Rate .

Related Topics

• How to Record Purchases Under GST Composition in TallyPrime
• How to Record GST Purchases with Nil Rate, Exempt,…
• How to Record RCM Purchases Under GST in TallyPrime
• How to Account for TDS or TCS on Purchases Under GST…
• Stock Valuation - FAQ

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Duke Basketball: Turkish Transfer Guard Reportedly Attracts Interest

The Duke basketball program already includes a three-year walk-on big man from Turkey.

• Author: Matt Giles

In this story:

Duke basketball looks like the frontrunner to land former four-year Tulane guard Sion James. But even if the Blue Devils prevail in that transfer battle, they'd still have two scholarships available.

RELATED: Encouraging Sign in Duke's Recruitment of Versatile Transfer

It wouldn't be a surprise if head coach Jon Scheyer awards one of those scholarships to 7-footer Stanley Borden, a native of Istanbul, Turkey. He joined the Duke basketball family in September 2021 and is now the only player remaining from retired legend Mike Krzyzewski's final Blue Devil team.

Perhaps Borden has played a part in the Duke staff's apparent new interest in outbound UC Irvine freshman Derin Saran, who also hails from Istanbul. And it's worth noting that the 6-foot-4, 190-pound guard attended Asheville School (N.C.) as a prep, so he has some familiarity with the state.

NFcomtr , a page specializing in all things Turkish basketball, reported over the weekend that Jon Scheyer's Blue Devils are now on the list of potential suitors who have reached out to Saran, joining the likes of Stanford, Vanderbilt, Northwestern, Georgia, and Marquette.

Bu sezon UC Irvine'da %50,2 şut isabetiyle 10,1 sayı, 3.4 ribaund istatistikleri ile dikkat çeken Derin Saran ile ilgilenen takımlara Duke da eklendi. 💥 Daha önce Stanford, Vanderbilt, Northwestern, Georgia ve Marquette gibi NCAA'in önde gelen takımlarının ilgisini çeken 1.93… pic.twitter.com/DVvtu2D067 — NFcomtr 🏀 (@NFcomtr) May 4, 2024

In his lone season at UC Irvine, the 20-year-old Derin Saran averaged 10.1 points, 3.4 rebounds, and 1.6 assists while shooting 50.2 percent from the field, 34.9 percent beyond the arc, and 80.0 percent at the charity stripe.

Derin Saran (04') vs. Utah Utes • 23 dakika • 16 sayı (takımının en skoreri) • 6/12 saha içi (2/3 üç sayı) • 2/2 serbest atış • 5 ribaund • 3 top çalma Utah Utes, UC Irvine'ı 84 - 75 mağlup etti. pic.twitter.com/oJxgWHeiBp — Can Peker Pekcan (@canpekerpekcan) March 20, 2024

Saran's double-figure scoring average came in only 19.1 minutes per game off the bench across 31 outings for an Anteaters squad that finished 24-10 overall and boasted the best record in Big West play at 17-3.

Stay tuned to Blue Devil Country on SI for more Duke basketball news.

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