Home Accounting Finance Indian Accounting Tally Tally Inventory Tutorial: Problem - 1 (Volume-I)

Tally Inventory Tutorial: Problem - 1 (Volume-I)

Transitions: (Dt: 01.04.2014)

Mr. Satyam started business with cash Rs. 3,00,000
Purchased Furniture worth Rs.20,000 for business use.
Purchased 10 computers @10,000 each for resale.
Sold 5 Computers @12,000 each to raju& co.
Sold 5 computers @ 12,000 each for cash.
Paid Salaries to staff by cash Rs.1,000
Paid rent Rs. 500
Paid Electricity Charges Rs. 500.

Step No. 1
Double Click on Tally Icon

Step No:2
Creation of Company
From Gateway of Tally Press Alt+F1
From Company Info Menu Select Create Company
Enter all the details of the Company
(Name, Address, Financial Year).
Read More: How to Create New Company in Tally

Step No: 3
Creation of Ledger Accounts

From-> Gateway of Tally-> Accounts Info-> Ledger-> Create

Account Name: Group
Satyam capital: Capital Account
Furniture: Fixed Assets
Purchases: Purchases Account
Sales: Sales Account
Raju& Co: Sundry Debtor
Salaries: Indirect Expenses
Rent: Indirect Expenses
E/C: Indirect Expenses

Read More: How to Create Ledger

Step No.4
Creation of productor inventory
Gateway of tally-> Inventory Info-> Stock Group-> Create
Name: Traded Goods Or Finished goods
Under : Primary
Can quantities of items be added :Yes

Press 4 Times ESC Key

Gateway of Tally-> Inventory Info-> Units of Measure-> Create
Symbol:Nos
Formal Name: Numbers
Numbers of decimal places :0

Press Esc 4 times
Gateway of tally-> Inventory Info-> Stock item -> Create

Name: Computer
Under: Select “Finished goods" from the list
Units: Select “Nos” from the list.
Set Standard Rates: Yes
Set Standard Cost:10,000
Standard selling price: 12,000
Quantity Rate Per Value
Opening Balance:
Press ESC Key 4 times
Read More: How to Create Stock Items in Tally

Step No. 5
Passing Transaction

Gateway of Tally -> Vouchers Entry

Date	Particulars	L.F.	Debit	Credit
1st April 2014	(Press F6) Receipts Cr. Satyam Capital A/c Dr. Cash A/c		3,00,000	3,00,000
1st April 2014	(Press F5) Payments Dr. Furniture A/c Cr. Cash A/c		20,000	20,000
1st April 2014	(Press F9)Purchases Cr. Cash A/c Dr. Purchases a/c		1,00,000	1,00,000
1st April 2014	(Press F8) Sales Dr. Raju& co. etc Cr. Sales A/c		60,000	60,000
1st April 2014	(Press F8)Sales Dr. Cash A/c Cr. Sales A/c		60,000	60,000
1st April 2014	(Press F5) Payments Dr. Salaries A/c Cr. Cash A/c		1,000	1,000
1st April 2014	(Press F5) Payments Dr. Rent A/c Cr. Cash A/c		500	500
1st April 2014	(Press F5)Payments Dr. E/c A/c Cr. Cash A/c		500	500