Header Ads Widget

Lesson – 2 Company Configuration – Accounting Features

In previous lesson we know about how to make company in TallyERP.9. 

In this lesson we know how to configure the company according to Income Tax, Sales Tax, Goods and Service Tax Others Government Revenue Accounts. In TallyERP.9, there is two types to configure the Company Information 1st is Accounting Features Configuration and 2nd is General Configuration. Here is the screenshot of both the Configuration

1. Accounting Features – Following Features will be open when you Press F11 on Gateway of Tally Screen (Figure 1), and when you creating voucher entry press F11 and you will see the Accounting Feature on your Screen (Figure 2).


(Figure 1)


(Figure 2)

Figure 2 is appear for Configure your Company’s Accounting and Taxation Details. 1st Red Box is Showing Accounting Features and the main points of Accounting features are General, Outstanding Management, Cost/Profit Centers Management, Invoicing Budget and Scenario Management and  company’s Cheque Printing, Company Logo, Multiple Contact / Mailing Details of Company.

What are these features? Here I explain it :
1.      General : Integrate Accounts with Inventory :This feature allows you to maintain Inventory also in your Company with Sales, Purchase and General Entry. If you want to maintain Inventory Books then Select Yes, otherwise No.
Income / Expense  Statement Instead of P and L (Profit and Loss): This feature allows you to see your Profit and Loss Account in Income over Expenditure Statement.
Allow Multi Currency: This feature allows you to Set Multiple Currency According to Export or Import or Foreign Currency Transactions made in your Tally Company.

2.      Outstandings Management: Maintain Bill Wise Details: This feature allows you to maintain your Billing Outstandings Bill wise. For Example you sold a item for Rs. 20000/-, and you received Rs. 15000 against your sell then this feature automatically shows your balance is Rs. 5000 against your this Item.  Following Video shows how this Feature works.


3. Cost / Profit Centre Management: This option has Payroll Management (Maintain Companies Employee Salary) and Cost Centers. Payroll Option is allows you to maintain Employees daily attendance, work hours, production, overtime, allowances and monthly salary. It also maintain Employees benefit details i.e. Provident fund and Employees State Insurance and also maintain Gratuity of every employee. Cost Centers allows you to see your Companies Item-wise profit ratio. You can also create Cost Centre as unit wise accounting.

4.      Invoicing: This feature is allow you to create your Bills (Sales and Purchase) in Invoice Format. You also create Rule 11 Invoice (Excise Invoice) from this option. See Below image as a Excise Rule 11 Invoice. You can also create Credit Note (against Sales Return) or Debit Note (against Purchase Return) in Invoice Format.


5.     Budget and Scenario Management: This feature allows you to create your Companies Estimated Budget and Generate MIS reports. Click here to see how budget and scenario works. It also allows you to create Memorandum and Reversing Journal Voucher. Memorandum is a optional Voucher. If you want to delete and save a voucher entry then you must be create Memorandum voucher. Memorandum voucher is not a book entry voucher, it is optional and not reflect in your Accounts Book.

6.   Other Features: Enable Cheque Printing: This feature allows you to print your Cheques through TallyERP.9 Payment Voucher from Cash or Bank. Click Here to know how to Configure Cheque Printing in TallyERP.9
Allows Zero Value Entries: This feature is allows you to Create Zero Value Entry, It means you are enter a Zero Value Entry i.e. If you export an item and you don’t know FOB value of the Item then you create Zero Value Entry (Sale Invoice) to the Party and when you received exact amount of the Bill, you will enter the amount in the Entry and Save the Voucher. (Shortcut key for create Zero Value Entry is Ctrl + X)
Maintain Multiple Mailing Details for Company and Ledgers: This feature is allow you to Create Companies Multiple Mailing Details. 1st Mailing Detail is enter when you Create Company and When you Select Yes from this option You will allow to enter 2nd Mailing Detail of the Company which is shows on your All Invoices. The Same is applicable with your Ledger Accounts.

Enable Company Logo: This feature is allow you to put your Company logo on All of your Statements which is printed by TallyERP.9 Software.

So now we learn about how to configure your Company Accounting Features. In next Lesson we know about How to Configure your Inventory Features in TallyERP.9. Till then Happy Learning and  Keep Visiting.

If you have query about TallyERP.9 Software please feel free to Comment on this blog.

Post a Comment

14 Comments

  1. I really like it and want to read lessons from beginning.
    Thanks a lot sir Pls provide me the lessons form beginning.

    ReplyDelete
    Replies
    1. Hallo Mintu,

      Thanks for visit our site. If you want to learn from starting then go to this link for all lessons:
      http://tallyssolution.blogspot.in/search/label/TallyERP.9%20Lessons

      Delete
  2. Thank you for sharing such useful stuff and very much appreciable
    check writing software | accounting and inventory software

    ReplyDelete
  3. thank you for sharing this information, it is clear and easy to understand

    ReplyDelete
  4. Another way accountants can maintain a low overhead is by avoiding unnecessary costly software. Contabilitate Iasi

    ReplyDelete
  5. This constrained service moving choice enables you to organize your own particular effects with the goal that you can make certain that delicate things are painstakingly bundled and that the crates are marked and arranged agreeable to you. moving companies near me

    ReplyDelete
  6. The intra-organization accounts "Home Office" and "Interest in Branch" are corresponding records, which means they are contrarily identified with or inverse each other.Legal Services

    ReplyDelete
  7. Nice And Informative information. Please Keep Continue Such Kind Of Effort. Contact With Quickbooks Support Phone Number. We Deal In Bookkeeping Services, Company Payroll Services, Cost Accounting, Quickbooks Enterprise, Quickbooks Pos Support, Quickbooks Pro Support And Other Company Related Financial Services.
    QuickBooks Error Support
    QuickBooks Error Support Number
    QuickBooks Error Support Phone Number

    ReplyDelete
  8. I recently came across your blog and have been reading along. I thought I could leave my first comment. I don’t know what to say except that I have enjoyed reading what you all have to say https://www.btcsoftware.co.uk/making-tax-digital/

    ReplyDelete
  9. I need perusing and I consider this site got some genuinely helpful stuff on it! Quickbooks Technical Support

    ReplyDelete
  10. this tool is very effective for installation issue creates in your quickbooks accounting tool one of the solution who solves many type of installation issues go here and solveinstall diagnostic tool for quickbooks

    ReplyDelete
  11. Great tips! Thanks for sharing information. This accounting information very useful tips. Visit Currace

    ReplyDelete

No spam allowed ,please do not waste your time by posting unnecessary comment Like, ads of other site etc.