Category: Accounting Software

  • How to retrieve Trial Balance in Tally Prime

    In Tally Prime, you can retrieve the trial balance by following these steps:

  • How to book purchases in Tally Prime

    To book a purchase in Tally Prime, you will need to follow these steps:

  • How to generate a VAT report on tally prime

    To generate a VAT (Value Added Tax) report in Tally Prime, follow these steps: The VAT report will show a detailed breakdown of all the VAT-related transactions that have occurred during the selected period, including the amount of VAT charged, the amount of VAT collected, and the net VAT payable or receivable. You can use […]

  • How to reconcile bank accounts in Tally Prime

    To reconcile a bank account in Tally Prime, you will need to follow these steps: After you have completed the reconciliation, Tally Prime will automatically update the bank account’s balance to reflect the reconciled amount. This will help you to maintain accurate records of your bank account and ensure that your financial statements are up […]

  • Keyboard Shortcuts in Tally Prime

    Tally Prime includes a number of keyboard shortcuts that can help you work more efficiently and save time. Some of the most useful shortcuts are: Alt + G: Opens the Gateway of Tally screen Alt + C: Creates a new ledger, voucher, or other item Alt + A: Displays the Alter screen for the selected […]

  • How to create a bank account in Tally Prime

    To create a bank account in Tally Prime, follow these steps: After creating the bank account, you can use it to record transactions related to the bank, such as deposits, withdrawals, and interest payments. It’s important to regularly reconcile the bank account with your bank statements to ensure that your records are accurate and up-to-date.

  • Create a new company in Tally Prime

    Introduction Entering company basic information • Selecting keyboard keys “Alt” and “R” (Alt+R), to change from regular company to group company in the company creation gateway. Therefore, we can create either a regular company or a group company by providing the requisite details. • Enter the name of the company, in our example, the name […]

  • How to create a contra entry on Tally

    Contra Entry A contra entry is a type of accounting transaction that involves two opposite entries in the same account. Contra entries are used to cancel out or offset the effect of a previous transaction. For example, if a company receives payment for goods or services that were previously sold on credit, the payment would […]

  • How to retrieve Trial Balance on Tally

    Trial Balance A trial balance is a financial statement that lists all of the accounts in a company’s general ledger and their balances at a specific point in time. The purpose of a trial balance is to ensure that the total of all debits equals the total of all credits, indicating that the company’s books […]