TallyPrime Gold special price for Chartered Accountants

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NEW CA TALLY SCHEME FOR CHARTED ACCOUNTANTS

1 Tally EXE/Application Logo

2 Access Tally Data Access company data by specifying a data path Access company data from any path or Drive or remote company and view the data status like Migration Required or Data Corrupted

3 The Look and Color of Tally

4 Multi-Tasking in Tally Multi Tasking can be done by opening multiple Tally.ERP 9 Instances Multi Tasking can be done by in one Tally Prime Instance. Just check the Opened Reports in Go To Feature

5 Chart of Accounts In Tally.ERP 9 user had to make minimum 3 clicks to open each of these. In Gateway of Tally > Display > List of Accounts. Option of ‘Chart of Accounts’ this allows you to access all your masters including groups, ledgers, voucher types, cost centre etc. can be accessed from one screen.

6 Supplementary Details In Tally.ERP 9, fill the required details and pass through complete Supplementary details Add few details which are needed most of the times as ‘Permanent details’ in ‘configuration’ and get only those details in Supplementary details.

7 Copy/Paste in Tally Shortcut Keys Used to Copy and Paste in Tally.ERP 9 Global Keys used to Copy and Paste in Tally Prim

8 Change Voucher Mode In Tally.ERP 9 these options were available in 3 different places and hence navigation is now easier. In sales voucher or any other voucher, the Change Mode gives you 3 options namely - Item Invoice, Accounting invoice and As invoice.

9 Printing Invoice in Tally In Tally.ERP 9, when a user prints invoices with multiple items the invoices gets printed in multiple pages as unused blank space occupies the page which is not needed. In Tally Prime, you can ‘optimise printing to save paper’. This feature will reduce your 6-page invoice to a 2-page invoice, thus saving your printing costs, paper costs and other costs.

10 Update details in Transaction In Tally.ERP 9, You need to pass through all items to update the details in specific item. Use ‘More Details’ in Transaction and update details of specific item seamlessly

TALLY PRIME ACCOUNTING SOFTWARE BENEFITS

Tally Prime, the modern-day model of Tally is specifically designed, for commercial enterprise proprietors empowering them to securely get admission to actionable insights and commercial enterprise reviews from anywhere, at any time and from any device. With the purpose to make each and every day easy and control commercial enterprise extra efficiently, Tally.ERP 9 is now Tally Prime! Download Tally Prime free of cost, if you have legitimate TSS subscription or Buy Now at the equal charge of Tally.ERP 9. Now develop your commercial enterprise the usage of Tally Prime - new age commercial enterprise administration software program and grant higher strength and seamless trip to all the Tally Users like Data entry operators, accountants, Chartered accountants, CFO, commercial enterprise etc. What are you ready for

Benefits of Tally Prime:

More Simpler and effortless to use

More Speed and Power

Reliable and Efficient

Flexible and future ready

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What is bookkeeping?

Bookkeeping is a process of recording and organizing all the business transactions that have occurred in the course of the business. Bookkeeping is an integral part of accounting and largely focuses on recording day-to-day financial transaction of the business.

All the financial transactions such as sales earned revenue, payment of taxes, earned interest, payroll and other operational expenses, loans investments etc. are recorded in books of accounts.

The way the bookkeeping is managed determines the accuracy of the overall accounting process that is been followed by the business. Thus, bookkeeping ensures that the record of financial transactions are up-to-date and more importantly, accurate

Why Bookkeeping is important for all business?

Just like to prepare a report, you need a source of data, bookkeeping is a source that gets summarized into the financial statements or any other accounting report that you see. With bookkeeping tracks and records all the financial transactions, it becomes the starting point of accounting. No bookkeeping = No accounting.

Thus, it becomes important for businesses, small or big to have bookkeeping in place.

The following are the importance of bookkeeping:

Bookkeeping helps to keep track of receipts, payments. Sales, purchases and record of every other transaction made from the business.

It helps to summarize the income, expenditure and other ledger records periodically.

It provides information to create financial reports which tells us specific information about the business as how much profits the business has made or how much the business is worth at a specific point of time. Tasks and examples of the bookkeeping system With the definition of bookkeeping, it’s clear that the bookkeeping task involves all that is required to track, record and organize all the financial transaction that has occurred in the business.

The person is responsible for managing bookkeeping usually entrusted with the responsibility of tracking all the transaction related to business. The following are the bookkeeping tasks examples:

Billing for goods sold or services provided to clients. Recording receipts from customers. Verifying and recording invoices from suppliers. Recording payment made to suppliers and so on… Are accounting and bookkeeping different? Read ‘Bookkeeping and Accounting’

Bookkeeping period

The accounting period that a business entity chooses for its business becomes part of its bookkeeping system and is used to open and close the financial books. The accounting period affects all aspects of the company’s finances, including taxes and analysis of your financial history.

In most of the countries, the accounting period is the financial year which starts from 1st April and ends on 31st March of every year. In some countries like the Middle East (UAE, Saudi, Bahrain etc) the calendar year is used as an accounting period i.e. 1st January to 31st December.

Types of bookkeeping

Business entities choose from two types of bookkeeping systems, although some entities use a combination of both.

The single-entry system of bookkeeping requires recording one entry for each financial activity or transaction. The single-entry bookkeeping system is a basic system that a company might use to record daily receipts or generate a daily or weekly report of cash flow.

The double-entry system of bookkeeping requires a double entry for each financial transaction. The double entry system provides checks and balances by recording corresponding credit entry for each debit entry. The double-entry system of bookkeeping is not cash-based. Transactions are entered when a debt is incurred or revenue is earned.

Read 'Types and Methods of Bookkeeping System' to know more.

Method of bookkeeping

The cash-based system of accounting records financial transactions when payment is made or received. This system recognizes revenue or income in the accounting period in which it is received and expenses in the period in which they are paid.

The accrual basis method, which is favoured under the generally accepted principals of accounting, record income in the accounting period in which it is earned and records expenses in the period incurred.

Principles of bookkeeping

To ensure the all the transactions are recorded and organized systematically, bookkeeping principles are applied. The following are the bookkeeping principle

Revenue principle

Expense principle

Matching principle

Cost principle

Objectivity principle

Read 'Principles of Bookkeeping' to know more.

Posting entries and documentation

All Financial transactions undertaken by a business entity are posted in ledgers using the information from receipts and other documentation. Ledgers summarize the transactions recorded. Most bookkeeping software automates the posting of transaction details to respective ledgers and reports.

Most entities post financial transactions daily, while others post in batches or outsource the posting activity to accounting professionals. Posting entries regularly helps in generating on-time financial statements or reports.

Financial transactions documentation is an important element of a company’s bookkeeping system. It requires maintaining files of receipts and other documents. The duration period for maintaining documentation records depends on your company policy and legal or tax requirements.

Influence of bookkeeping on the chart of accounts

A business entity can create more comprehensive bookkeeping system when it includes accounts for each area of financial transactions. Financial accounts are grouped or categorized based on the nature of accounts or impact on the financial statements. This usually includes balance sheet accounts and income statement accounts.

Balance sheet accounts are assets, liabilities, and stockholder or owner equity. Income statement accounts are operating and non - operating revenues, expenses, gains and losses.

Read More on Bookkeeping

Bookkeeping Principles, Types of Bookkeeping System, Elements of Bookkeeping, Bookkeeping Vs. Accounting, Difference between Accountant & Bookkeeper, Basic Accounting Assumptions Basis Bookkeeping

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