In Tally Prime, the Cash Book is a report that displays all cash-related transactions for a business. It includes both cash receipts and payments. The Cash Book helps in tracking the inflow and outflow of cash, providing a detailed view of your business’s cash position.
Features of Cash Book in Tally:
Auto Generation of Entries: Cash entries can be automatically recorded when transactions occur (e.g., sales, purchases, receipts, payments).
Transaction-wise Display: The Cash Book in Tally Prime displays transactions like cash receipts and payments separately, making it easy to track the movement of cash.
Reports: You can generate Cash Book reports for any time period and analyze the cash flow for the business.
In Tally Prime, Inventory management refers to the process of tracking goods or stock in your business, including stock-in-hand, stock movements (purchases, sales, transfers), and related transactions. Tally Prime provides a range of features to help manage inventory effectively, making it easier to track stock levels, maintain records, and generate reports.
Key Features of Inventory in Tally Prime:
Stock Management: Track stock levels, manage stock items, record purchases, sales, and adjustments.
Batch and Godown Management: Handle stock items in different batches and store them in different godowns (warehouses).
Stock Valuation: Tally Prime supports various stock valuation methods like FIFO (First In, First Out), LIFO (Last In, First Out), and Weighted Average.
Inventory Reports: Generate reports such as stock summary, stock item details, stock movement, and more.
n Tally Prime, Adjustments refer to entries or modifications made to the accounts, typically for things like depreciation, provisions, or stock adjustments. These adjustments impact the Profit and Loss Account (P&L) and the Balance Sheet.
Common Adjustments in Tally Prime and Their Impact:
Stock Adjustment: This involves adjustments made to stock quantities and values. It can be for reasons like damaged goods, stock found missing during physical verification, or corrections in stock balances.
Effect on P&L: A stock loss or surplus affects the Profit and Loss Account directly.
Effect on Balance Sheet: Changes in stock value will affect the current assets section of the Balance Sheet.
(i)Godowns
(ii) TDS
(iii) TCS
(iv) Point of Sale
(v) Bill of Material
(vi) PDC
(vii) BRS
(viii) Budget
(ix) Discount Column Separate
(x) Cost Centre
(xi) Export & Import
(xii) Password
(xiii) Backup
(xiv) Split Company
(xv) Description for sale/ purchase
(xvi)Decimal
(xvii) Invoice number change
(xviii) Payroll
(xix) Credit Limit
(xx) Cheque Printing
(xxi) Memorandum
(xxii) purchase Order
(xxiii) Price Level
(xxiv) Allow Zero Value
(xxv) Standard Rate
(xxvi) Actual & Billed
(xxvii) Batch Wise
(xxviii) Interest Calculation
(xxix) Additional Cost of purchase
(xxx) Optional voucher
(xxxi) Print Copies
(xxxii) Period
(xxxiii) Alternate Unit
(xxxiv) Suspense A/c
(xxxv) Duplicate Entry
(xxxvi) Cancel Entry
(xxxvii) Filter
(xxxvii) Negative Items
(xxxviii) Negative Ledger
(xxxix) Date enter Without Skip
(xl)Import from excel
In Tally Prime with GST (Goods and Services Tax) is integrated into the accounting and inventory system to simplify tax compliance for businesses in countries like India, where GST is implemented. With Tally Prime with GST you can easily manage GST-related transactions such as sales, purchases, GST returns, and tax calculations.
Key Features of GST in Tally Prime:
GST Calculation: Automatically calculates GST for both purchases and sales based on predefined rates.
GST Reports: Provides detailed reports like GSTR-1, GSTR-2, GSTR-3B, and GSTR-9 for GST filing.
GST Ledger Setup: You can create separate ledgers for GST liability and input tax credit.
GST for Inventory: You can track GST on inventory purchases and sales.
GST Returns: Directly generate GST returns like GSTR-1 and GSTR-3B in Tally Prime.
GST Information
(i) Purchase GST
(ii) Sale GST
(iii) GST Payable
(iv) IGST Purchase
(v) IGST Sale
(vi) Service Tax
(vii) Slab Rate
(viii) Nil Rate
(viii) Item wise GST
(ix) Advance Receipt
(x) Import
(xi) Export
(xii) GST Classification
(xiii) Round Off
(xiv) Composition
(xv) URD
(xvi) Freight Charge
(xvii) Debit/credit note
(xviii) B2C
(xix) Currency
(xx) Bank Details
(xxi) Bank Charge
(xxii) Item and Service
(xxiii) Logo
(xxiv) Tally in Pen Drive
(xxv) ITC
(xxvi) GST Rate Setup
(xxv) MRP