Which is advanced Tally course?
As of my last knowledge update in January 2022, Tally is a popular accounting software widely used for managing financial transactions and business operations. While Tally itself doesn’t have an official “advanced” course, there are various advanced topics and features within Tally that you can learn to enhance your skills. Here are some advanced topics you may consider exploring in a Tally course:
Advanced Accounting in Tally
Learn advanced accounting entries, including complex journal entries, adjustments, and handling advanced financial transactions.
Tally Customization
Explore how to customize reports, invoices, and vouchers in Tally to meet specific business requirements. This includes creating custom fields, altering existing reports, and designing custom templates.
Inventory Management in Tally
Gain in-depth knowledge of advanced inventory management features in Tally. This includes handling multi-location inventory, batch-wise and expiry date management, and understanding inventory valuation methods.
Advanced GST (Goods and Services Tax) Implementation
Learn advanced techniques for implementing GST in Tally, including handling reverse charge mechanisms, composite supply and mixed supply scenarios, and managing Input Tax Credit (ITC) efficiently.
TDS (Tax Deducted at Source) and TCS (Tax Collected at Source) in Tally
Understand the advanced functionalities related to TDS and TCS in Tally, such as managing different TDS rates, handling TDS returns, and implementing TCS on transactions.
Financial Statements and Analysis
Explore how to generate and analyze advanced financial statements, including balance sheets, profit and loss statements, and cash flow statements. Learn how to use Tally for financial analysis and decision-making.
Job Costing and Project Management
Delve into advanced features related to job costing and project management in Tally. This includes allocating expenses, tracking project profitability, and generating project-specific reports.
Security and Access Control in Tally
Learn how to set up and manage user access controls, data security, and user permissions within Tally to ensure data integrity and confidentiality.
Advanced Reporting and Analytics
Explore advanced reporting features in Tally, including the use of Business Intelligence (BI) tools, creating custom reports, and leveraging analytics for better decision-making.
Integration with Other Software
Understand how to integrate Tally with other software applications, such as CRM (Customer Relationship Management) or ERP (Enterprise Resource Planning) systems, for seamless data exchange.
Always check for the most recent information, course reviews, and updates to ensure that the course you choose aligns with your learning objectives and covers the latest features and functionalities in Tally.
How to enable taxation in Tally prime?
Enabling taxation features in Tally Prime involves configuring the software to handle various tax-related transactions and compliance requirements. Here are the general steps to enable taxation in Tally Prime:
Set Up Company Information
Open Tally Prime and select the company for which you want to enable taxation.
Navigate to “Gateway of Tally” > “Alter” > “Company Info” > “Statutory & Taxation.”
Provide necessary information about the company, such as the financial year, state, and country.
Activate GST (Goods and Services Tax)
If your business is subject to GST, activate the GST feature.
Go to “Gateway of Tally” > “F11: Features.”
Under “Statutory & Taxation,” set “Goods and Services Tax (GST)” to “Yes.”
Configure GST Details
Set up GST details for the company:
Go to “Gateway of Tally” > “F3: Cmp Info” > “Alter.”
Enter GST-related details, such as GSTIN (Goods and Services Tax Identification Number), registration type, and tax period.
Define GST Rates
Define GST rates for various goods and services:
Navigate to “Gateway of Tally” > “F11: Features.”
Under “Inventory Features,” set “Set/alter GST details” to “Yes.”
Define GST rates for different goods and services under “GST Rates.”
Enable Tax Ledgers
Create tax ledgers for GST, such as IGST (Integrated GST), CGST (Central GST), SGST (State GST), and CESS:
Go to “Gateway of Tally” > “Accounts Info” > “Ledgers.”
Create a new ledger for each tax type and set the appropriate GST/Tax details.
Set Up Tax Classes and Categories
Define tax classes and categories to classify transactions based on their tax implications:
Go to “Gateway of Tally” > “Accounts Info” > “Statutory Info” > “VAT Details.”
Set up tax classes and categories as required.
Assign GST Details to Stock Items:
Assign GST details to stock items:
Go to “Gateway of Tally” > “Inventory Info” > “Stock Items.”
Modify or create stock items and set their GST details.
Enable Reverse Charge Mechanism (RCM), if applicable
If your business is liable for reverse charge, enable the reverse charge mechanism:
Go to “Gateway of Tally” > “F11: Features.”
Under “Statutory & Taxation,” set “Enable Reverse Charge” to “Yes.”
Configure Other Taxation Features
Depending on your business requirements and tax regulations, configure other taxation features such as TDS (Tax Deducted at Source), TCS (Tax Collected at Source), and other applicable taxes.
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