Advanced Financial Accounting with Tally ERP and GST

Create a company from company info, configure base currency details and fiscal year, and activate cost center and cost category features to set up category management for cost tracking.

Create and manage cost centers in Tally ERP by enabling cost category, creating a primary cost center under category 1, and allocating ledgers to two cost centers for sales.

Learn to create payment vouchers in Tally ERP with GST, including ledger creation under indirect expenses, cost center assignment, and cash payments for marketing departments, including digital and billboard marketing.

Perform a payment voucher entry to allocate marketing expenses across cost centers and cost categories in a cash account, with digital marketing and billboard marketing ledgers and narration details.

Analyze call center reports and cost center reports to develop practical financial accounting skills within Tally ERP and GST workflows.

Identify four cost center report types, category summary, cost center breakup, ledger breakup, and group breakup, and learn to view ledger accounts and wage cost centers in Tally ERP.

Analyze ledger and group breakup reports to understand cost centers, and learn to create, activate, and allocate marketing expenses using predefined cost center locations.

Learn category summary report in Tally ERP to allocate 1 lakh marketing expenses across cost centers using digital marketing and billboard marketing percentages.

Create ledgers, establish different cost categories, and view various costs within the advanced financial accounting context.

Learn to create a company and set up ledgers in Tally ERP with GST, including bank accounts, cost centers, and project ledgers, and record payments, invoices, and sales.

Create cost centers and cost categories for projects and employees in Tally ERP; establish Boonie project, Mumbai project, and non-bird project, and set up CMA and Abhay under employees.

Create and post diverse voucher entries in Tally ERP, including check payments and receipts, allocate cost centers to projects, and update ledgers and schedules for project accounting.

View cost center reports in Tally ERP, exploring summary or ledger breakup and group breakup options, and examine income and expense details by project.

practice actuating interest calculation, including simple interest and advance mode calculations, in this lab to develop practical financial skills.

Activate interest calculation in Tally ERP 9, compare simple mode with the advanced symbol and parameter modes, and learn how to apply rates for loans and money invested.

Apply mod-based interest calculations on outstanding balances for ledgers and invoices in tally erp, auto-calculated during worksheet entry, using a specified rate and style, and view related reports.

Explore calculating interest under different styles in Tally ERP, including 30-day month, calendar month, and 365-day year, using a 2000 rupee principal and varying days.

Learn to set up debit and credit notes for interest using separate simple and compound interest classes in Tally ERP 9, and record interest accrued in indirect income.

Activate the interest calculation feature in Tally, and compute interest transaction by transaction at 1% using the 30 day money-to-interest style across invoices.

Book interest on a debit note voucher using tally erp, selecting compound interest and interest accrued as the credit, then review ledgers, invoices, and interest calculation reports.

Calculate interest on outstanding balances, book interest on ledgers, and view interest calculation reports to master financial accounting tasks in Tally ERP and GST.

Enable advanced parameters for interest calculation in tally and set 10 percent from April to June and 12 percent from July onward, using 365 days a year on outstanding balances.

View the interest calculation report to see total interest of rupees 1475.78 for supplier one, and book the interest using simple interest and related ledgers.

Practice making and receiving payments, calculate and book bank interest, and view interest in the profit and loss account, including compound interest entries.

Learn to create a company and bank ledger in tally erp and gst, then record payments to suppliers and receipts from customers, including opening balances.

learn to calculate interest receivable using the bank account interest calculation feature at 7 percent, displaying interest for multiple periods from april to september.

Record debit note entries for bank interest using the simple interest class, and post the interest from the calculation report to the books via a ledger of interest received.

View booked interest in the profit and loss account via the BTA interest report for September, noting nil interest and rupees 2161.37 shown in profit and loss and balance sheet.

Activate advanced accounting features to enable credit sales, set 30-day terms for Global Institute, and calculate 10 percent interest on overdue balances transaction by transaction.

Record the receipt entry from Global Institute, debit the bank by check, and set up the purchase entry for Abita electronics computer stock on credit with 5 percent interest.

View and book the compound interest by creating a credit note and posting interest payable as a liability under current liabilities, then verify on the balance sheet.

Learn to create budgets for groups ledgers and cost centers, view budget radiance reports, and order and delete budgets.

Learn how budgets guide fund flow and decision making by creating department and group budgets in Tally ERP 9, activating the budget feature, and comparing actuals with budgeted figures.

Create a closing balance budget of ₹10,000 for indirect expenses in Tally ERP (1 april–30 march) and also prepare a net transactions budget of ₹4,000 for the same period.

Learn to create and display a ledger budget report (18:19), compare budgeted, actual, and radiance values, and review net transactions and trial balance across the April to March period.

Create cost center budgets in Tally ERP, entering expenses, income, and closing balances for centers; view reports with budgeted, actual, and median sum columns.

Learn standard costing and its limitations through this assignment, and review the standard cost format.

Introduction to standard costing: prepare and compare standard cost with actual cost using factors updated from internal sources. Analyze variances to support cost control, capacity utilization, and pricing decisions.