TallyPrime Made Easy – Learn Accounting, GST and Payroll

Learn how to install TallyPrime from the official site, run the setup, and use the educational version, noting the date limitation and licensing options.

Learn to create a new company in TallyPrime by pressing F3, entering name, address, and state with GST details, and save; then open, close, or delete existing companies.

Learn to create ledgers in TallyPrime, assign opening balances for capital, cash, profit and loss account, fixed assets like machine, expenses, bank accounts, and loans, using multi ledger creation.

Understand voucher entry by applying the three golden rules of accounting: debit the receiver and what comes in and goes out, and expenses and losses versus income and gains.

Learn the six voucher types, including payment voucher, payment received voucher, general voucher, and contra forms like cash to cash and bank transfers, with practical examples.

Learn voucher entry in TallyPrime with GST, including creating ledgers, recording payment and received vouchers, cash and bank transactions, and double-entry setups.

Learn to define five inventory attributes in TallyPrime: stock category, stock group, go down, unit of measurement, and stock item, illustrated with mobile phones and milk examples.

Create stock categories, groups, units, and go-downs in TallyPrime to manage mobile phone inventory; learn to record quantities, rates, and reports across Delhi, Noida, Agra, Punjab, and Haryana.

Explore the five-step purchase flow in TallyPrime, including purchase order, received note, rejection, purchase bill, and debit note, and learn how these steps relate to recording purchases and payments.

Learn to create and activate a purchase order in TallyPrime, set up the party and item details, specify delivery terms, and view purchase order outstanding and close order reports.

Activate the receipt note in TallyPrime, enter the supplier reference number, date, and party, select the purchase order, record the received quantity, and review stock and pending bills.

Learn to perform a rejection out in TallyPrime after processing a purchase order and receipt note, select the party and item, and reject a specified quantity before saving.

Update stock after receiving a receipt note and rejections on a purchase order, then generate a purchase bill in TallyPrime with supplier invoice details to record the payable liability.

Learn to process a debit note (purchase return) in TallyPrime to return defective goods, adjust stock from 1000 to 950, and reflect the impact on liability.

Master the end-to-end sales procedure in TallyPrime, from creating a sales order to issuing a delivery note, handling reduction in items and sales returns, and updating the daybook and inventory.

Master bank reconciliation in TallyPrime by aligning bank and company statements, recording sample ledger entries like commissions and travel expenses, and applying date differences to complete reconciliation.

Understand goods and services tax (GST), its five slabs, CGST, SGST, IGST, and how interstate versus intrastate transactions affect tax calculations, activation, and year-end liabilities in tallyprime.

Learn to set up GST in TallyPrime for Delhi, distinguish intra and interstate transactions, and process purchases and sales with GST components.

Demonstrates applying multiple GST rates to different items within a single invoice in TallyPrime, including tax classifications and duties, with purchase and sales reports.

Learn to apply GST on services in TallyPrime by creating services, configuring accounting invoices, and handling inter-state and in-state sales with integrated tax.

Learn how to record GST on fixed assets and capital goods, calculate and post input tax credit over five years, and manage advance tax on capital goods in TallyPrime.

Explore how to set up GST for RCM in TallyPrime and record purchases from an unregistered dealer. Track the reverse charge liability and adjust input tax credit through state adjustments.

Learn to build a bill of materials in TallyPrime, calculate raw material needs, and manufacture a finished shirt from buttons, thread, and cotton with GST handling.

Activate the TDS feature in TallyPrime, create ledgers for party and government, and apply a 10 percent deduction on interest above the five thousand threshold.

Enable tax collected at source (TCS) in TallyPrime, configure tax on goods with 0.75%–1% rates, and generate Form 27 and Form 27AQ payments with GST integration.

Explore how to set up a point of sale in TallyPrime with GST, create a sale voucher, configure ledgers for cash, gift vouchers, and debit/credit cards, and print GST-compliant invoices.

Activate the cost center feature, create the cost category salary and corresponding cost centers for each employee, record salary payments under the category and centers, and view the category report.

Explore how to create and manage budgets in TallyPrime, including indirect and direct expenses, ledgers for travel, mobile, and advertisement, and analyze budget variance.

Learn how to activate and configure payroll in TallyPrime, set up attendance and pay-heads (basic salary, travel expense, overtime, deductions), enroll employees, process payroll vouchers, and generate payslips.