/** * The main template file * * This is the most generic template file in a WordPress theme * and one of the two required files for a theme (the other being style.css). * It is used to display a page when nothing more specific matches a query. * E.g., it puts together the home page when no home.php file exists. * * @link https://developer.wordpress.org/themes/basics/template-hierarchy/ * * @package WordPress * @subpackage Tally * @since 1.0.0 */ ?>
My previous blog on “How to work from home on Tally?” was about accessing your Tally data in multiple scenarios. But working from home also requires a checklist for what exactly needs to be done in Tally. Our experience of working with more than 500 + customers and more than 1500 + consultancy we have identified that many customers have not configured Tally data properly. Also, customers find it difficult to view various reports. Most customers use Tally for data entry purposes and therefore they fail in analysing their own data.
Some of the features or masters, if configured properly will give you wonderful reports and accuracy in data at time of GST Returns, MIS, TDS and Income Tax Returns etc.
Based on the line of business and user profile, we can assign the list of activities for users to work from home.
Below is the checklist to work from home on Tally:
Ledger Master Checking
Classification of Ledgers to appropriate groups is very important. These Ledgers are classified to Profit & Loss or Balance Sheet. You can check below details:
Stock Item Master Checking
Stock Item refers to goods that you manufacture or trade. It is the primary inventory entity and is the lowest level of information on your inventory. You can check below details:
Removing Unwanted Master
In Tally data there are some unwanted masters which are being unnecessarily created or it has been carried forward from previous split data. Tally allows to delete these masters only if there are no vouchers, no opening balance or if it is not part of BoM.
In Statistics report, drill down the particular master and press F5: Show Unused. In this report you can delete one or multiple masters.
Ledger voucher checking
It is very important to check all the entries of a particular Ledger. Also, it will help in knowing the customer & supplier performance. Check ledgers under the head of P&L and Balance Sheet whether entries are properly posted under right ledger also check below points:
Stock Item voucher checking
As Ledger Stock Item is also very important and need to check all the entries of particular Stock Item. Also, it will help in knowing the Stock Item performance. Also check below points:
GST & TDS Master configuration
Quickly set up GST rates for your company, stock item-wise or stock group-wise, using the GST Rate Setup option. You must enable GST in your company to provide GST rates. You can set up GST rates at the company level, stock group level, stock item level, account ledger group level, and ledger level. You can also set the GST rates for a particular price range/slab for multiple stock items.
Click on below Tally Help Article Link for more information.
Resolving Incomplete/Mismatch in Information – GSTR-3B, GSTR-1 & GSTR-2
If a voucher has multiple exceptions, on resolving one exception it will move to the next exception category until all exceptions are resolved and entries moved to Include in Returns. Below are some exceptions need to resolve before filing GST returns.
Click on below Tally Help Article Link for more information.
https://help.tallysolutions.com/article/Tally.ERP9/Tax_India/gst/gstr3b_exceptions.htm
https://help.tallysolutions.com/article/Tally.ERP9/Tax_India/gst/summary_of_exceptions_gst.htm
https://help.tallysolutions.com/article/Tally.ERP9/Tax_India/gst/summary_of_exceptions_gstr2.htm
Outstanding Receivable and Payable checking
This is a very important report for accounts & management, and is very difficult to manage as payment & receipts amount are not always tracked with exact bill reference or taken On Account. Due to this outstanding report balance and Ledger balance do not match with each other. Also, after splitting data outstanding with previous reference are carried forward. You can check this difference by running two Tally software and toggle between both.
Bank Reconciliation & Cheque Register
Order Outstanding checking
Many times, Delivery Note & Receipt Note, Sales & Purchase and Debit Note & Credit Note are not tracked with exact order reference or without order. Due to this the order outstanding do not match. Also, after splitting data order outstanding are not carried forward. You can check this difference by running two Tally software and toggle between both.
Exception Reports
In Exception Menu you can check below report:
Adjustment Journal Entries
This is a part of accounts and so accordingly need to pass adjustment & provision entries.
MIS Reports
Once you are done with all the above points you can check MIS reports that you require on monthly or yearly basis. Also, you can start analysing and comparing the MIS reports. Below are some MIS reports available in Tally.
Learn New Tally Features
There are various features in Tally, you can make a list and start practicing in demo data or on backup data.
About the author
Kundan Vaze – Founder & Owner at KV Solutions, Tally 3-Star Certified Partner
Mobile: 9320634289 | Email: kundan.av@kvsolutions.in | Website : https://www.kvsolutions.in/
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