Learn Tally Prime & Accounting

A step-by-step guide to understand accounting basics, explore Tally Prime software, and gain skills for a successful career in finance and business management.

📘 Accounting Basics

Accounting is the process of recording, summarizing, and analyzing financial transactions. It provides insights into a company’s financial health. Core concepts include:

Assets: What a business owns (cash, buildings, stock).
Liabilities: What a business owes (loans, creditors).
Income: Earnings from sales and services.
Expenses: Costs incurred to run the business.
Capital: Owner’s investment in the business.

Golden Rules of Accounting:

Debit what comes in, credit what goes out.
Debit the receiver, credit the giver.
Debit all expenses and losses, credit all incomes and gains.

🖥️ Tally Prime Modules

Company Creation

Set up a new company with details like name, financial year, and GST.

Ledgers & Groups

Create ledgers for accounts such as cash, bank, sales, purchases, etc.

Vouchers

Record transactions using Sales, Purchase, Payment, Receipt, and Journal vouchers.

Inventory Management

Track stock, manage Godowns, and monitor batches with accuracy.

GST & Taxation

Generate GST invoices, returns, and file taxes directly.

Payroll

Manage employee salaries, attendance, PF, and compliance.

Reports

Get Balance Sheet, Profit & Loss, Trial Balance, and Cash Flow instantly.

⚙️ Practical Workflow in Tally Prime

Create a Company with basic details.
Set up Ledgers and Groups for accounts.
Enter Transactions using the correct Voucher type.
Check Reports like Profit & Loss, Balance Sheet, and Cash Flow.
File GST returns and manage Payroll activities.

🛠️ Skills to Learn in Tally Prime

Creating and managing ledgers, groups, and vouchers
Recording GST-compliant transactions and filing returns
Inventory tracking and Godown management
Payroll setup and salary processing
Bank reconciliation and cash flow analysis
Generating advanced reports for decision-making

💼 Careers After Learning Tally Prime

With Tally Prime knowledge, you can work in diverse industries as:

Tally Operator
Accountant
GST Consultant
Payroll Executive
Finance Executive
Business Analyst