Familiarize yourself with the navigation.
After installation, the software introduces different tools to access various functionalities. You need
to know that the software focuses on keyboard shortcuts. The keyboard shortcut is displayed next to
the corresponding options. You need to learn the shortcuts as this will improve efficiency and
productivity. This will allow you to navigate the software perfectly. You can familiarize yourself with
the navigation tools through different modules.
Company creation
You can create a company on the software, which is fundamental. Whether you have chosen a trial
version or a prayed version with a license in the menu, you can create a company to initiate the
company creation process. This action will direct you to a screen where you will input essential
details. You should always provide accurate and comprehensive information during company
creation, like details of your company name, financial year, and the statutory compliance
requirements, for this is a unique identity for your company. You can set the stage for precise and
organized financial management.
Creating a Ledger
You can select Create Ledger on the official portal. You need to know that making the Ledger is
significant for recording transactions in business management. You can create separate ledgers for
different accounts involved in your business dealings. There are two types of Ledger, including cash
and profit.
Firstly, you must navigate to the account’s info section from the gateway menu in your tally
software. You can click on the Ledger and then create it. This allows you to create a single or
multiple ledger based on your following weeks requirement.
After creating the Ledger, you can assign yourself to a specific group and choose the appropriate
group from the provided options.
You can also select accounts like capital accounts.
Creating a voucher
You can find an option to create a voucher on the tally website, as it offers the convenience of
preconfigured voucher types. It makes the process of documenting financial transactions easy. A
coupon works like a record for different economic activities like sales deposits. One of the best parts
about this software is its unique voucher types. It serves different transaction scenarios. Auto
backup is also possible when you create a voucher.
Firstly, you need to choose the relevant voucher type based on the nature of the transaction, like
payment receipts. You can use the pre-configured voucher types. This will streamline the entry of
transaction details, ensuring accuracy and consistency. When you master the creation of ledgers and
vouchers, you can establish a strong foundation for practical accounting.
You can choose the voucher option from the right-hand menu based on the financial transaction.
You can use Contra voucher F4 for bank deposits, withdrawals, or account transfers. You can also
use payment vouchers for company payments. Furthermore, you also need to enter the start of
your financial year to create your voucher.
Lastly, depending on your selected voucher type, you must fill in the required details. You must
specify the Ledger to which the voucher will be attached. You must enter the names of the involved
parties and the transaction date.
Wrap up
You need to know that this guide provides a perfect overview of using the tally software. This
software provides you with plenty of tools that are not even covered here. It allows your business to
customize your usage based on multiple requirements. If you require assistance setting up the
software for your business, you can contact experts who can provide you with the support and
guidance you need.
