1.Loans from interested parties
Refer item No. 4 above.
2 Related party transactions
3.Timely payment of Provident Fund Dues
Refer item No. 5 above.
4. Maintenance of Fixed Assets Register and calculation of Depreciation
a) First Activate F1 l : Features and set following options to Yes
Maintain Billwise Details Yes
(for non trading A/c. Also) Yes
Activate Interest Calculation Yes
(use advance parameters) Yes
b) In the ledger account of Fixed Assets (Accounts Info. ‑ Ledger ‑ Alter)(ALA) and select the ledger account. Set the following parameters to Yes ‑
Maintain bill‑by~bill Yes
Activate interest calculation Yes
c) In interest parameters specify:
Calculate Interest Transaction by Transaction to Yes
Rate : ‑20 % per 365 days year on Debit balances only
Applicability Always Calculate from Date of Invoice
Rounding Not Applicable
d) While entering the transaction give the details and references
e) While providing depreciation, give credit to the respective assets references
To get the details of Fixed Assets and also depreciation provided over the years
Go to relevant ledger account Display ‑ Account Books ‑ Ledger (DAL)
and type name of the ledger account and press Enter
Press F2 : Period and type 01/04 To 31/03
Press F8 : Other Report ‑ Select Billwise Details
To get further details, press F1: Detailed and it will give all details, date of purchase, depreciation provided every year
Press F8 : Other Report ‑ Select Interest Calculations
This will now show amount of depreciation to be charged under written down value method
To get further details, press F1: Detailed and it will give all details, date of purchase, rate of depreciation and use in no. of days
5. Maintenance of Inventory Records
Refer item No. 6 above
6. Audit features & Trail useful for internal control / security
First we need to activate the feature in the company master
Press Alt + F3: Comp Info
Select Alter
Select the name of the company to alter
Set the last option ‑ Use Security Control to Yes
Then its asks for user name and password
Use Tally Audit Features : Yes
Then Save the changes by pressing Ctrl + A
Press Esc
Then you have another option SEcurity Control
Here you can create different types of securities by which you can restrict tile access to various options as per requirements
To tick mark the vouchers and ledger which have been checked and find out which are still to be vouched and check,
Go to Display ‑ Statements of Accounts ‑ Tally Audit (DST)
This has to options for view, Vouchers and Ledgers,
Press appropriate option and it will give list of unchecked items. As you check the ledger or voucher, you can tick mark it by pressing F7: Accept One.
By pressing F12 : Configure, it will give further details of person entering and altering the vouchers details
7. Cost Centers useful for segment reporting
8. Group Company useful for consolidation
To create Group Company, we need to first open two companies
Then press Alt + F3: Comp Info
The option of Create Group Company will get highlighted
Now you can create group company by giving all the details.
When the group company is opened, it also opens the members of
the group company