Category: Tally ERP 9 Training
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Tally Prime Download: Features, Benefits & Why Itโs a Must-Have for Modern Businesses
In todayโs fast-paced and regulation-heavy business environment, having a powerful, user-friendly accounting software isnโt a luxuryโitโs a necessity. Tally Prime, the latest evolution from the house of Tally Solutions, delivers just that. If you’re looking for an easy and compliant way to manage your finances, inventory, GST, payroll, and moreโTally Prime is your answer. In…
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Automated GSTR-1 Filing Excel Template with Dashboard & GST Upload Format
Creating a template in Excel for GSTR-1 calculation can significantly ease your GST filing process. GSTR-1 is a return that summarizes all outward supplies (sales) of a taxpayer. Here’s a step-by-step guide to build a useful, automated GSTR-1 Excel template with key sections, formulas, and structure: โ Step 1: Understand the GSTR-1 Structure GSTR-1 includes:…
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The Fall of QuickBooks in India: What Went Wrong and How Tally Benefited
๐งพ Why QuickBooks Shut Down in India 1. Lack of Market Fit QuickBooks, though globally popular, couldnโt align with the unique business environment of India. Indian small and medium businesses (SMEs) have different needsโmany still prefer offline tools, handwritten bills, and one-time licenses over monthly subscriptions. QuickBooks offered a cloud-based, subscription-only model that didnโt match…
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Payroll Management – Complete Guide
What is Payroll? Payroll refers to the process of calculating, managing, and distributing salaries/wages to employees of a company. It includes everything from employee compensation, tax deductions, bonus calculations, attendance tracking, and compliance with statutory laws. ๐ Key Components of Payroll: Component Description Basic Salary Fixed amount paid to employees before any additions or deductions.…
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The Ultimate GST Handbook: Navigating Goods and Services Tax in India
Taxable Event under GST โ In Detail What is a Taxable Event? A taxable event is the occurrence or action that gives rise to the liability to pay tax. In any tax law, identifying the taxable event is crucial because it determines when and how tax is to be levied. Under the previous indirect tax…
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Payroll Management: A Complete Guide
What is Payroll? Payroll refers to the process of calculating, managing, and distributing salaries/wages to employees of a company. It includes everything from employee compensation, tax deductions, bonus calculations, attendance tracking, and compliance with statutory laws. ๐ Key Components of Payroll: Component Description Basic Salary Fixed amount paid to employees before any additions or…
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Last-Minute Tally Interview Booster ๐โ Questions + Answers Inside
Here’s a Last-Minute Tally Interview Preparation Guide tailored for quick revision, including key topics, interview questions, and a cheat sheet. Ideal for accounting, finance, or data entry roles using TallyPrime or Tally ERP 9. โ Key Topics to Revise ๐ฌ Common Interview Questions ๐ Cheat Sheet (Printable Highlights) Shortcut Action Alt+F1 Detailed Report F11 Features…
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GST (Goods and Services Tax) in India
โ What is GST in India? GST (Goods and Services Tax) is a comprehensive indirect tax levied on the supply of goods and services. It replaces multiple taxes previously levied by the central and state governments, such as VAT, service tax, excise, etc. ๐ Implemented On: 1st July 2017๐งพ GST is a destination-based tax โ…
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Step-by-Step Guide to Ledger Creation in Tally
Creating a ledger in Tally is a fundamental part of accounting, as all financial transactions are recorded through ledgers. In TallyPrime, ledgers are created under Groups (like Capital Account, Sales, Purchase, Cash-in-Hand, etc.). ๐ฏ What is a Ledger in Tally? A Ledger in Tally is a record of all transactions related to a specific account,…
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Understanding VAT on Fixed Assets
Value Added Tax (VAT) on fixed assets refers to the imposition of VAT on the purchase of capital assets that a business intends to use for its operations over an extended period. Fixed assets include tangible assets like land, buildings, machinery, equipment, vehicles, and intangible assets like patents and trademarks, which are essential for the…
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Applying VAT on Fixed Assets in Tally.ERP 9 – Step-by-Step Tutorial with Examples
In Tally.ERP 9, applying VAT (Value Added Tax) on fixed assets involves a few steps. Here’s a comprehensive guide on how to apply VAT on fixed assets in Tally.ERP 9: Step 1: Creating Fixed Assets Ledger: Step 2: Enabling VAT in Tally.ERP 9: Step 3: Creating VAT Ledger: Step 4: Recording Purchase of Fixed Asset…
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Recording VAT Entries in Tally.ERP 9 with Detailed Steps and Examples
VAT entry in Tally.ERP 9 is essential for businesses to accurately record Value Added Tax transactions. Below, I will guide you through the process step-by-step, including examples and explanations: Step 1: Create VAT Ledgers Step 2: Enable VAT in Tally Step 3: Make Sales Entry with VAT Step 4: Record Purchase Entry with VAT Step…