It only contains transaction data entry work. All the remaining work is done by computer itself.
great saving of time.
No Long working Hours
Addition, Posting, costing and balancing etc are time consuming when done manually. But computer does it in a jiffy.
You only need press a button to see the requisite information. It helps you to take decision and action on time.
In computer accounting there is no scope of any discrepancy. By connecting everything to a data source, each statement is similar to the statement. All figures are computed correctly. A computer can’t commit mistake itself. Therefore , computer is called the machine which bring out free and good printed account books and perfect report, which brings positive changes in business . Let us understand the accounting concept with an Institute’s Accounting , which generally has following transaction:
Transfers Of Cash into Bank
● Depositing the cash in bank.
● Withdrawing cash from bank.
● Transferring funds from One Bank Account to another bank Account.
Receipt and Payment
● Receiving in retired fees.
● Payment in respect of profession related expenditure, overheads, staff salary and electricity charges.
● Telephone bill, internet charges, publicity expenditure etc.
Appropriation of Profit and Loss
● Making provision for income tax.
● Capitalization of profit money.
Creation of Tally Company
First of all create a company to start the account maintenance work in Tally. before installing tally,
you will come across a company menu and to move the company creation screen, select create company.
Gateway of Tally Company info Company Creation
In tally company screen in divided into two main parts.
In tally, Company details are entered in the upper part of company creation in the following way:
1. Directory: Tally will to store data against Tally default data and path display. If you want store
data in any other directory, then press arrow button and enter drive and path to create data file
for the company. After this, tally will start skipping in that area.
2. Name : Enter name of company.
3. Mailing : generally mention here name of the person whom you to give the output of the report prepared.