Learn Tally Internship Report

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Annexure – 1
Learn Tally
Intern Shala Trainings
A Training Report
Submitted in a partial fulfilment of the requirements for the award of degree of
Bachelors in Business Administration
Submitted to
LOVELY PROFESSIONAL UNIVERSITY
PHAGWARA, PUNJAB
From 06/01/2021 to 08/06/2021
Submitted by
Name of student: Apurva Kumari
Registration no.: 12003444
Signature of student: Apurva

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Annexure – 2 Student Declaration
Apurva Kumari, 12003444, hereby declare that the work done by me on “Learn Tally” from
06/2021 to 08/2021, is record of original work for the partial fulfilment of the requirements for
the award of the degree, Bachelors in business Administration.
Name of the student – Apurva Kumari
Registration no. – 12003444
Signature of the student – Apurva
Dated: 30/09/2021

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Certificate
• https://trainings.internshala.com/s/v/49549/e01037e7

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Acknowledgments
It is with sense of gratitude; I acknowledge the efforts of entire hosts of well-wishers who
have in some way or other contributed in their own special ways to the success and
completion of my Summer Training. Successfully completion of any type of technology
requires helps from a number of people. I have also taken help from different people for
the preparation of the report. Now, there is little effort to show my deep gratitude to those
helpful people. First, I express my sense of gratitude and indebtedness to our Training
mentor for their immense support and guidance throughout the training. Without his kind
direction and proper guidance this study would have been a little success. In every phase
of the project his Supervision and guidance shaped this training to be completed perfectly.

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Table of content
S. No Title Page
1 Cover page 1
2 Declaration 2
3 Certificate 3
4 Acknowledgment 4
Chapter – 1
5 1.1. Introduction 8
6 1.2. Course content 8-9
7 1.3. Course fee 9
8 1.4. Registration process 10
9 1.5. Course purchase process 10-11
10 1.6. Access of training process 11-13
11 1.7. Objectives of tally training 13-14
12 1.8. Outcomes/ highlights of
training
14
Chapter – 2
14 2.1. Basic of accounting 14-15
15 2.2. The world of tally 15-16

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16 2.3. Accounting process in tally 16-19
17 2.4. Bank reconciliation statement 19-20
18 2.5. Tax deduction at source
(TDS) & tax collected at source
(TCS) accounting in Tally
20-21
19 2.6. Payroll in tally 21-22
20 2.7. Goods and services tax
(GST) accounting in tally
22-23
21 2.8. Data extraction from tally 23-24
22 2.9. Some extra topics 24
23 2.10. Shortcut key 25-26
Chapter – 3
24 3.1. No. Of videos and their
duration
26
25 3.2. No. Of MCQ and assignments 26-27
Chapter – 4
26 4.1. Result of every module and
final test
27-28
27 4.2. Certificate 29

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Chapter – 5
28 5.1. learning from course 30
29 5.2. Reference 30

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Chapter –1
1.1 Introduction
Tally training is a video-based training with animations, screencasts and other visuals aids to
help the learning process. The duration of the training programme is 6 weeks and it contains
text chapters, video lessons, quizzes, module tests, assignments and a project. There are
different modules with different concepts which helps in learning tally more widely.
1.2 Course content
Tally is used for storing all the business transactions of each account in detail. Small scale
enterprises believes that it carries out efficient business transactions, provide accuracy and
saves a lot of time. Calculating manually consumes a lot of time, that’s why most of the
businesses adopting tally for calculation. It also reduces the chances of error to a great extent
which helps in reducing the case of loss. It’s cost effective and time saving also. It enables the
digitalization of bills and signatures, thus staying up-to-date with the latest technology. The
owner of a small shop can also manage his store, keep records of customer bills, and manage
financial transactions efficiently. The course is divided into 10 modules which are:
• Basic concepts of accounting
• The world of tally
• Accounting process in tally
• Bank reconciliation statement

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• Rax deducted at source (TDS) & Tax collected source (TCS) accounting in tally
• Payroll in tally
• Goods & services Tax (GST) accounting in tally
• Data extraction from tally
• Some extra topics
• Shortcut keys
After the completion of every module we got had to solve some assignments and MCQ for
unlocking the another module for which we scored some marks in percentage. And after
completing all the 10 modules there was a final test in which we had to score at least 33% for
clearing/ passing the course in order to get the certificate.
1.3 Course fees
The actually price of this course was Rs.4999/- but I paid Rs.1349/- because of some offer
which was there at that time. After paying the amount I got the access of the training course
for 6 weeks. I have added the invoice below for the same.

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1.4 Registration Process
The process for registering for the tally course are as follows. For registering for course, first
we need to signup on internshala.com
1. Open the website at https://internshala.com
2. Click on register and after that click on whether as a student or as an employer
3. Then, you will redirect to the registration page on which you either manually register
your account or sign up with Google.
4. Click on sign-up to register successfully for your account.
5. You will receive a verification email, click on it to verify and complete your account
sign-up process.
1.5 Course purchase process
After successful registering on internshala.com we’ll buy the course in which we are interested
1. After logging in, we’ll directly visit a page where there will be a lot of
recommendation according to different fields like business management,
programming, data science, designs etc. In which we’ll select tally
2. After that, we’ll come to an interface where we have to fill our phone no , batch
which means from when we’ll start the training and the objective for opting the
course.

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3. We’ll directly reach to the interface where we need to pay and get 6 week access to
the course and also they provide some days extension in the last 2 weeks.
Note – the price Rs.999/- which is mentioned in the screenshot shared above is based on the
current offer as the screenshot is taken.
1.6 Access of training process
Now the process for access the training is mentioned below:
1. First open the Internshala training platform webpage from here
https://trainings.internshala.com and login using your email I’d and password.

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2. You will be redirected to the Internshala Trainings Dashboard, where you will
see the ‘Go to training’ link.
3. When you click this link, you will be required to complete your profile.
4. After completing the profile, we’ll be able to access the training.

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Note – the screenshot shared above is taken after the completion of my training that’s why
my result are shown.
1.7 Objectives of tally training
1. This course helps students to work with well-known accounting software i.e. Tally
prime.
2. Student will learn to create company, enter accounting voucher entries including
advance voucher entries, do reconcile bank statement, do accrual adjustments, tax
deduction, payroll, GST, data extraction and also print financial statements, etc. In
Tally prime software.

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3. Accounting with Tally certificate course is not just theoretical program, but it also
includes continuous practice, to make students ready with required skill for
employability in the job market.
1.8 outcomes / highlights of training
1. After successfully qualifying practical examination, students will be awarded
certificate to work with well-known accounting software i.e. Tally prime.
2. Student will do by their own create company, enter accounting voucher entries
including advance voucher entries, do reconcile bank statement, do accrual
adjustments, and also print financial statements, etc. In Tally prime software.
3. Students do possess required skill and can also be employed as Tally data entry
operator.
Chapter –2
2.1 Basics of Accounting
Accounting is the process of recording financial transactions pertaining to a business. The
accounting process includes summarizing, analyzing, and reporting these transactions to
oversight agencies, regulators, and tax collection entities. The financial statements used in
accounting are a concise summary of financial transactions over an accounting period,
summarizing a company's operations, financial position, and cash flows.
There are two different basis of accouting
1. Cash basis – Cash basis is the most basic accounting. On a cash basis, you only record
transactions when money changes hands.
2. Accrual basis – In Accrual basis you record transactions twice: when they occur and
when they’re paid.
• Journal – It is a detailed account that records all the financial transactions of a business,
to be used for the future reconciling of accounts and the transfer of information to other
official accounting records, such as the general ledger. A journal states the date of a
transaction, which accounts were affected, and the amounts, usually in a double-entry
bookkeeping method.
• Ledger – It is a book containing accounts in which the classified and summarized
information from the journals is posted as debits and credits. It is also called the second

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book of entry. The ledger contains the information that is required to prepare financial
statements.
• Cash book – It is a special type of book that is only concerned with the recording of
cash transactions of an organization. It performs the dual role of both journal and a
ledger for all the cash transactions taking place in a business organization. A cash book
records all the cash receipts on the debit side and all the cash payments of the
organization on the credit side.
• Petty cash book – It is for very small transactions that take place in an organization.
Such transactions can occur in a day and are repetitive in nature, which can put undue
load on the general cash book. That’s why it is maintained separately.
• Double cash book – It is an additional column that is reserved for the discounts.
Therefore, in a double-column cash book, also known as two-column cash book, the
cash receipts and transactions are recorded in one column while the second column
records discounts received and discounts provided.
2.2 The world of tally
In this module,
• In this module we learned that we as a student, we need to work on educational mode
of tally prime.
• we come to know about how to create, alter for which the shortcut key is alt+f3 and
delete the company for which shortcut key is alt+D and then press yes or enter.
2.2.1 Company creation

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• We learned about how to do the different settings in features for which shortcut key is
F11 and configure for which shortcut key is F12.
• We got to know about how to set date for the financial period.
2.3 Accounting process in tally
In this module, we learned about
• How to do the accounting manually. In this we got the idea about the identification of
the transaction and also analyse them. We learned to prepare journals and leadgers also
solve some of the questions.
• We got to know about groups and ledgers divided among the groups which are:
Groups Ledgers
Capital account Reserves and surplus
Share capital a/c
Partners’ capital a/c etc.
Current asset Bank a/c
Cash in hand
Deposits
Stock in hand
Loans & advances
Current liabilities Duties & taxes

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Provisions
Sundry creditors
Direct expense Wages a/c
Carriage inwards a/c
Direct incomes Loans & advances
Fixed asset Building a/c
Factory a/c
Machinery a/c
Car a/c
Indirect expenses Audit fees
Depreciation a/c
Legal expenses
Advertisement a/c
Indirect incomes Rent received a/c
Interest received a/c
Commission received a/c
investment Investment in shares
Bonds
Government securities
Loans(liability) Secured loan
Unsecured loan
Misc. Expenses (asset) Sundry debtors
Purchase account Car purchased
Machinery purchased
Sales account Any item which is sold
Suspense account
The following Primary Groups are Capital in nature and appear in the Balance Sheet:
1. Capital Account
2. Current Assets
3. Current Liabilities
4. Fixed Assets

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5. Investments
6. Loans (Liability)
7. Suspense A/C
8. Misc. Expenses (Asset)
9. Branch/Divisions
The following Primary Groups are Revenue in nature and appear in the P&L Account:
1. Purchase A/C
2. Sales A/C
3. Direct Expenses
4. Indirect Expenses
5. Direct incomes
6. Indirect incomes
• We also learned about different types of voucher
Vouchers Type of transaction to be entered
Purchase All purchases of goods whether cash or
credit.
Entry for purchase of assets will not be
passed through Purchase Voucher. It will be
passed through Payment or Journal
Voucher.
Sales All purchases of goods whether cash or
credit.
Entry for purchase of assets will not be
passed through Purchase Voucher. It will be
passed through Payment or Journal
Voucher.
Debit note When liability towards suppliers is to be
reduced like in case of purchase returns.
Credit note When customers liability towards us to be
reduced like in case of sales returns.
Contra All transactions in which only cash and
bank accounts are involved

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Payments All cash / cheques or other modes of
payment.
Except for purchase of goods by
cash/cheque.
Reciept All cash or cheque or other modes of
receipts.
Except for sale of goods by cash/cheque.
Journal These vouchers are used for the following
transactions:
a) Purchase of assets on credit. If we make
the payment for the assets via cheque or
cash, then we would record the transaction
in the Payment Voucher instead of the
Journal Voucher.
b) Sale of an asset on credit.
c) Adjusting entries for outstanding
expenses and accrued incomes.
d) Depreciation entries.
Post-dated voucher Post-Dated Voucher is basically a voucher
that is created in advance for a payment that
will happen in the future.
Reversing journal voucher These are special vouchers that are
automatically reversed after a specific date.
Memo voucher It is a non-accounting voucher. The entries
made in this voucher will not affect the
books of accounts.
They are used to remind you of a transaction
that may happen in the future. Therefore,
they act as references for future transactions
• We also learned how to view trial balance, ledger total.
• We also learned about some common adjusting entries

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2.4 Bank reconciliation statement
BRS is prepared on a periodical basis for checking that bank related transactions are recorded
properly in the cash book’s bank column and also by the bank in their books. BRS helps to
detect errors in recording transactions and determining the exact bank balance as on a specified
date. Accounting errors could lead to circumstances that are more than just embarrassing when
the cheques bounce or companies start getting annoying calls from creditors or suppliers for
payments that are already released. Bank reconciliations assist you in spotting fraud and
reducing the risk of transactions that could cause penalties and late fees. There are some
benefits of preparing BRS which is:
• Detecting error – BRS helps in detecting error in accounting such as addition,
subtracting, missed payment and double payment which is common in business.
• Tracking Interest and Fee: Banks might add interest payments, fees or penalties to your
account. Monthly bank reconciliation allows you to add or subtract such amounts in
your books.
• Detecting Fraud: You may not be able to prevent employees from stealing your money
once, however, you could prevent it in future. Bank reconciliations statement helps you
in detecting and spotting fraudulent transactions. It is advisable to employ an
independent person to perform the reconciliations for preventing the accounting
employee from falsifying your books and reconciliations.
• Tracking Receivables: BRS allows you to confirm all your receipts, assisting you to
avoid awkward situations and also identifying entries for receipts that you didn’t
deposit.
2.5 Tax deduction at source (TDS) & tax collected at source (TCS)
accounting in Tally
TDS TCS
Tax deduction at source Tax collected at source
TDS is the tax which is deducted on a
payment made by a company to an
individual, in case the amount exceeds a
certain limit
TCS is the tax which is collected by sellers
while selling something to buyers.

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TDS deduction is applicable on payments
such as salaries, rent, professional fee,
brokerage, commission, etc.
TCS deduction is applicable on sales of
goods like timber, scrap, mineral wood, and
so on.
TDS is applicable only on payments that
exceed a certain amount.
TCS is applicable on sales of specific goods
which don’t include production or
manufacturing material.
Ex. Mr.X works at a company. His
company deducts a tax on monthly salary at
the applicable rate before they make him the
final payout. The amount that is deducted in
this manner is TDS.
Ex. Mr.Y is a mineral wood trader. He sells
some mineral wood to Mr.Z. While making
the sale, Mr.Y collects 5 percent tax; this
sum collected by Mr.Y from the customer is
called TCS.
2.6 Payroll in tally
Payroll is simply an aggregation of total amount of wages paid by the company to its
employees. It is one of the most significant expenses for businesses; hence it is very
complicated expense for companies to process. Processing payroll slips is a very time-
consuming task so company usually hire payroll services from third parties so that it can be
prepared weekly, semi - monthly or monthly depending upon the resources which the company
has in its reserve.
The payroll module in Tally reports comprehensively as it has user defined classifications and
sub classifications. This might be associated with the employees, employee groups, pay
components, departments etc. The payroll module also lets flexible and user defined criteria
for users. It offers the facility to create user defined earnings and deductions pay heads. The
module lets us use unlimited grouping of Payroll Masters. Supports
production/attendance/time-based remuneration units which are user defined production units.
It offers all-inclusive cost Centre as well as employee wise costing reports. Ensures timely and
precise processing of salary along with employee statutory deductions and employer statutory
contributions with the help of predefined processes. It helps generate Statutory forms and
challans for EPF & ESI as prescribed. The payroll module helps in tracking the loan details of
employees as well.

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We can also generate payroll slip.
2.7 Goods & services taxes (GST) accounting in tally
GST is an Indirect Tax which has replaced many Indirect Taxes in India. The Goods and
Service Tax Act was passed in the Parliament on 29th March 2017. The Act came into effect
on 1st July 2017; Goods & Services Tax Law in India is a comprehensive, multi-stage,
destination-based tax that is levied on every value addition. Goods and Service Tax (GST) is

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an indirect tax levied on the supply of goods and services. This law has replaced many indirect
tax laws that previously existed in India.
There are 3 types of GST
• CGST – Central GST – Applies to sales within the state – goes to Central Government.
• SGST – State GST – Applies to sales within the state – goes to State Government.
• IGST – Integrated GST – Applies to sales outside the state – goes to Central
Government.
If we sell any goods within states, 50% of the GST will be CGST which means it’ll go to the
central government and 50% of the GST will be SGST which means it’ll go the state
government. But if we sell the same goods outside the state, 100% of the GST will be IGST
which will go to central government.
Tally is the most popular and reliable GST ready accounting software amongst businesses in
India. It ensures you generate GST invoices and transactions as per the GST format. We can
also manage advance receipts, reverse charge scenarios, branch transfers, bill of supply, export
invoices, input tax credit and other adjustments - all by using Tally's GST billing software. It
ensures that your GST returns are in sync with your books of accounts, and reflect the same
data as used for filing returns in the GST portal, thus proving to be the right GST return
software for you. We can also file GST return accurately.
2.8 Data extraction from tally
In this module, we come to know about how to extract data from tally. We learned how to
• print important reports from tally.
• Export various reports, masters etc.
• Import various masters, transactions, etc.
• Email various reports, vouchers, etc.

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2.9 Some extra topics
In this module we learned about
• Multi-currency feature in tally
As globalization opening up the gates for trade and businesses across seas, we find many
organizations have transactions in more than one currency. Such overseas transactions have to
be recorded either in the home currency or in the foreign currency. If we record the transactions
in home currency, then the rate at which the foreign currency is exchanged should be recorded
as well. Owing to the nature of the transaction, at times we need to record the transaction in the
foreign currency itself to maintain the balance of the concerned account in foreign currency.

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• Multilingual feature in tally
In this, we can select language according to our preference and also we can change the language
of the interface.
2.10 Shortcut keys
Tally shortcut key with “ALT” button.
• Alt+A : Add voucher/To Alter the column in the columnar report
• Alt+E : Export the report in ASCII, HTML, OR XML format
• Alt+I : Import statutory masters
• Alt+H : Help Shortcut
• Alt+I : Insert a voucher
• Alt+P : Print the report
• Alt+M : Email the report
• Alt+F3 : Select the company info menu
Tally shortcut key with “FUNCTION” button.
• F10 : Navigate between Accounting Reports
• F11 : Modify Company features specific to the current company only
• F12 : Master Configurations, which will affect all companies in the same data
directory.
• F2 : Change the date
• F6 : Select Receipt Voucher
• F7 : Select Journal Voucher
• F8 : Select Sales Voucher
• F9 : Select Purchase Voucher

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• F4 : Contra Voucher
• F5 : Select Payment Voucher. Switch between Grouped and Ledger-wise Display
Tally shortcut key with “CTRL” button.
• Ctrl+G : Select Group
• Ctrl+L : Mark a voucher as Optional or Regular
• Ctrl+F9 : Select Debit Note Voucher
• Ctrl+Alt+B : Check the Company Statutory details
• Ctrl+Alt+C : Copy the text from Tally (At creation and alternation screens)
• Ctrl+Alt+c : for copy
• Ctrl+Alt+v : for paste
Tally shortcut key use in “Inventory Voice”.
• Alt+F4 : Purchase Order Voucher
• Alt+F10 : Physical Stock
• Alt+F5 : Sales Order Voucher
• Alt+F7 : Stock Journal / Manufacturing Journal
• Alt+F8 : Delivery Note
• Alt+F9 : Receipt Note
• Esc : Clear entry
Chapter – 3
3.1 NO. Of videos and their duration
There are total of 129 videos in 10 modules and their duration varies but minimum duration of
videos is 2 minutes and maximum duration of videos is 20 to 22 minutes.
3.2 NO. Of MCQ and assignments
Module Name of module MCQ ASSIGNMENT
S
Module 1 Basic concept of
accounting
3 1
Module 2 The world of tally 2 1

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Module 3 Accounting process
in tally
3 1
Module 4 Bank reconciliation
statement
1 1
Module 5 Tax deduction at
source(TDS) & tax
collected at source
(TCS) accounting in
Tally
1 1
Module 6 Payroll in tally 3 1
Module 7 Goods & services
tax (GST)
accounting in tally
2 1
Module 8 Data extraction from
tally
2 1
Module 9 Some extra topics 3 1
Module 10 Shortcut keys 0 1
Total 20 10
Chapter 4
4.1 Result of every module and final test
Module Name of module Result
Module 1 Basic concepts of
accounting
84%
Module 2 The world of tally 80%
Module 3 Accounting process in tally 77%
Module 4 Bank reconciliation
statement
71%
Module 5 Tax deduction at
source(TDS) & tax collected
at source (TCS) accounting
in Tally
73%

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Module 6 Payroll in tally 69%
Module 7 Goods & services tax (GST)
accounting in tally
67%
Module 8 Data extraction from tally 100%
Module 9 Some extra topics 100%
Module 10 Shortcut keys 100%
Final test Final test 100%

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Chapter – 5
5.1 Learning from course
Tally as an accounting cum ERP system is focused on delivering total workflow automation
with the aim to provide relief to accountants and finances experts by taking off the huge
responsibilities from their shoulders. And GST could be given a reference here where Tally
Prime not just made the journey on GST pathways a cakewalk by providing return filing
module but it also updated its software solution as and when changes were brought into the
GST law the best recitement could be updation of E Way Bill prep module into the Tally’s
latest software module. It also helpful in future by learning about payroll, TDS, TCS, BRS etc.
It’ll help to get a good job in future.
5.2 Reference
• https://trainings.internshala.com/

Learn Tally Internship Report

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