Crafting Effective MIS Reports in Tally Prime


Aathi Mobile Shop
ADDRESS NO 505, 18th Cross VTR Park, Junction Main Road, Salem - 636006
MOBILE NO 7896541230
EMAIL aathimobilsshopsalem@gmail.com
WEBSITE Aathimobilsshopsalem.in

Trial Balance

LEDGER AMOUNT
Capital 500000
Creditors (Saravanan) 120000
Stock 330000
Cash 271600
Sales 254000
Purchase 285000
Rent 56000
Bank Loan 68500
EB charges 12400
Bills payable 12500

01-07-23 Aathi Mobile Shop invested Rs. 2000000 as capital in their company Aathi Mobile Shop. They deposited the amount in the company bank account in SBI through a DD.

01-07-23 Purchased the following stock item from RK Shop domestic trader on credit with bill Ref No 01.

Item Godown Qty Rate
K5 Mobile Phones Main Location 100 1000

01-08-23 Paid Rs. 50000 to RK shop through SBI Bank

05-08-23 Sales the following stock item to SMJ Shop domestic trader on credit with Bill Ref.No.SA01.

Item Godown Qty Rate
K5 Mobile Phones Main Location 50 2000

10-07-23 Received an amount of Rs. 70000 from SMJ Shop through cheque

01-10-23 purchased the following stock item from KMB Shop International Trader from Japan on credit with the Bill Ref No.02

Item Godown Qty Rate
K6 Mobile Phones Main Location 200 2000

15-11-23 Sold the following stock item Arun Shop domestic trader on credit with Bill Ref No. SA02.

Item Godown Qty Rate
K6 Mobile Phones Main Location 100 3000

01-12-23 Sold the following stock item to the domestic customer on cash with Bill Ref. No SA03.

Item Godown Qty Rate
K5 Mobile Phones Main Location 10 2000

30-12-23 Purchased the following stock item from the domestic trader on cash with Bill Ref No 03.

Item Godown Qty Rate
K5 Mobile Phones Main Location 20 1000

Stock Transfer

30-12-23 Aathi Shop transferred 20 Nos. of K6 Mobile phones from Main Location to Branch Location in Mysore city.

Item Qty Rate
K6 Mobile Phones 20 2000

Go to Gateway of Tally: Once Tally Prime is open, you'll see the Gateway of Tally screen. This is the main menu from where you can access various features.

Create Company: From the Gateway of Tally screen, select "Create Company" and press Enter.

Enter Company Details:

  • Company Name: Enter "Aathi Mobile Shop".
  • Mailing Name: You can use the same name as the company name.
  • Address: Enter "NO 505, 18th Cross VTR Park, Junction Main Road, Salem - 636006" as the address.
  • Mobile No: Enter "7896541230" as the mobile number.
  • Email: Enter "aathimobilsshopsalem@gmail.com" as the email address.
  • Website: Enter "Aathimobilsshopsalem.in" as the website address.
  • Country: Choose the appropriate country from the dropdown list.
  • State: Choose the appropriate state from the dropdown list.
  • PIN Code: Enter the PIN code "636006".

Additional Details (Optional): You can fill in additional details such as contact persons, telephone numbers, and tax information if required.

Review and Confirm: Review all the entered details to ensure accuracy.

Save the Company: Once you've reviewed the details, save the company by pressing Enter or using the appropriate option.

Confirmation: Confirm that you want to create the company with the entered details.

Exit: After confirming, exit the company creation screen.

company_creation

Opening Balance


Go to Gateway of Tally: From the Gateway of Tally screen, navigate to "Accounting Masters.".

Create Ledgers:

  • Under "Accounting Masters.", select "Ledgers".
  • Choose "Create" to add a new ledger.

Enter Ledger Details:

  • Enter "Capital" as the ledger name and choose "Capital Account" as the group.
  • Enter the amount as 500000.

Repeat the Process:

  • Create ledgers for "Creditors (Saravanan)" under "Sundry Creditors" group, with an amount of 120000.
  • Create ledger for "Stock" under "Direct Expenses" group, with an amount of 330000.
  • Create ledger for "Cash" under "Cash-in-Hand" group, with an amount of 271600.
  • Create ledger for "Sales" under "Sales Account" group, with an amount of 254000.
  • Create ledger for "Purchase" under "Purchase Account" group, with an amount of 285000.
  • Create ledger for "Rent" under "Indirect Expenses" group, with an amount of 56000.
  • Create ledger for "Bank Loan" under "Bank OD/Loan Accounts" group, with an amount of 68500.
  • Create ledger for "EB Charges" under "Indirect Expenses" group, with an amount of 12400.
  • Create ledger for "Bills Payable" under "Sundry Creditors" group, with an amount of 12500.

Save Changes: After entering all the ledger details accurately, save your changes.

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Select Chart of Accounts:

  • Under the "Gateway of tally" menu, choose "Chart of Accounts" and then select "Groups" or "Ledgers."
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01-07-23 Aathi Mobile Shop invested Rs. 2000000 as capital in their company Aathi Mobile Shop. They deposited the amount in the company bank account in SBI through a DD.

Go to Gateway of Tally: From the Gateway of Tally screen, navigate to "Accounting Vouchers".

Create Receipt Voucher:

  • In the Accounting Vouchers menu, select "F6: Receipt" to create a new receipt voucher.

Enter Voucher Details:

  • Date: Set the date as 01-07-23.
  • Under "Received From", enter "Aathi Mobile Shop" as the party name.
  • Under "Ledger", select "Capital Account" as the ledger to credit Rs. 2000000.
  • Under "Debit", select "SBI Bank" as the ledger to debit Rs. 2000000.

Additional Details:

  • You may enter additional information such as the DD number, if available, in the narration field.

Save and Confirm: After entering all the details accurately, save the voucher by pressing Ctrl + A. Confirm any prompts if required.

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01-07-23 Purchased the following stock item from RK Shop domestic trader on credit with bill Ref No 01.

Item Godown Qty Rate
K5 Mobile Phones Main Location 100 1000

Go to Gateway of Tally: From the Gateway of Tally screen, navigate to "Accounting Vouchers".

Create Purchase Voucher:

  • In the Accounting Vouchers menu, select "F9: Purchase" to create a new purchase voucher.

Enter Voucher Details:

  • Date: Set the date as 01-07-23.
  • Supplier Invoice No.: Enter "01" as the bill reference number.
  • Under "Supplier Invoice No.", enter "RK Shop domestic trader" as the supplier.

Enter Stock Item Details:

  • Select "K5 Mobile Phones" as the stock item.
  • Choose the appropriate godown (e.g., "Main Location") where the stock is stored.
  • Enter 100 in the quantity field and 1000 in the rate field.

Save and Confirm: After entering all the details accurately, save the voucher by pressing Ctrl + A. Confirm any prompts if required.

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01-08-23 Paid Rs. 50000 to RK shop through SBI Bank

Go to Gateway of Tally: From the Gateway of Tally screen, navigate to "Accounting Vouchers".

Create Payment Voucher:

  • In the Accounting Vouchers menu, select "F5: Payment" to create a new payment voucher.

Enter Voucher Details:

  • Date: Set the date as 01-08-23.
  • Under "Payment To", enter "RK Shop" as the party name.
  • Under "Account", select "SBI Bank" as the ledger account to debit Rs. 50000.

Enter Amount Details:

  • Enter 50000 in the amount field. This is the amount paid to RK Shop.

Save and Confirm: After entering all the details accurately, save the voucher by pressing Ctrl + A. Confirm any prompts if required.

company_creation

05-08-23 Sales the following stock item to SMJ Shop domestic trader on credit with Bill Ref.No.SA01.

Item Godown Qty Rate
K5 Mobile Phones Main Location 50 2000

Go to Gateway of Tally: From the Gateway of Tally screen, navigate to "Accounting Vouchers".

Create Sales Voucher:

  • In the Accounting Vouchers menu, select "F8: Sales" to create a new sales voucher.

Enter Voucher Details:

  • Date: Set the date as 05-08-23.
  • Customer Invoice No.: Enter "SA01" as the bill reference number.
  • Under "Ledger Account", enter "SMJ Shop domestic trader" as the customer.

Enter Stock Item Details:

  • Select "K5 Mobile Phones" as the stock item.
  • Choose the appropriate godown (e.g., "Main Location") from where the stock is sourced.
  • Enter 50 in the quantity field and 2000 in the rate field.

Save and Confirm: After entering all the details accurately, save the voucher by pressing Ctrl + A. Confirm any prompts if required.

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10-07-23 Received an amount of Rs. 70000 from SMJ Shop through cheque

Go to Gateway of Tally: From the Gateway of Tally screen, navigate to "Accounting Vouchers".

Create Receipt Voucher:

  • In the Accounting Vouchers menu, select "F6: Receipt" to create a new receipt voucher.

Enter Voucher Details:

  • Date: Set the date as 10-07-23.
  • Under "Received From", enter "SMJ Shop" as the party name.
  • Under "Account", select "SBI Bank" as the ledger account to credit Rs. 70000.

Enter Amount Details:

  • Enter 70000 in the amount field. This is the amount received from SMJ Shop.

Save and Confirm: After entering all the details accurately, save the voucher by pressing Ctrl + A. Confirm any prompts if required.

company_creation

01-10-23 purchased the following stock item from KMB Shop International Trader from Japan on credit with the Bill Ref No.02

Item Godown Qty Rate
K6 Mobile Phones Main Location 200 2000

Go to Gateway of Tally: From the Gateway of Tally screen, navigate to "Accounting Vouchers".

Create Purchase Voucher:

  • In the Accounting Vouchers menu, select "F9: Purchase" to create a new purchase voucher.

Enter Voucher Details:

  • Date: Set the date as 01-10-23.
  • Supplier Invoice No.: Enter "02" as the bill reference number.
  • Under "Supplier Invoice No.", enter "KMB Shop International Trader" as the supplier.

Enter Stock Item Details:

  • Select "K6 Mobile Phones" as the stock item.
  • Choose the appropriate godown (e.g., "Main Location") where the stock is stored.
  • Enter 200 in the quantity field and 2000 in the rate field.

Save and Confirm: After entering all the details accurately, save the voucher by pressing Ctrl + A. Confirm any prompts if required.

company_creation

15-11-23 Sold the following stock item Arun Shop domestic trader on credit with Bill Ref No. SA02.

Item Godown Qty Rate
K6 Mobile Phones Main Location 100 3000

Go to Gateway of Tally: From the Gateway of Tally screen, navigate to "Accounting Vouchers".

Create Sales Voucher:

  • In the Accounting Vouchers menu, select "F8: Sales" to create a new sales voucher.

Enter Voucher Details:

  • Date: Set the date as 15-11-23.
  • Customer Invoice No.: Enter "SA02" as the bill reference number.
  • Under "Ledger Account", enter "Arun Shop domestic trader" as the customer.

Enter Stock Item Details:

  • Select "K6 Mobile Phones" as the stock item.
  • Choose the appropriate godown (e.g., "Main Location") from where the stock is sourced.
  • Enter 100 in the quantity field and 3000 in the rate field.

Save and Confirm: After entering all the details accurately, save the voucher by pressing Ctrl + A. Confirm any prompts if required.

company_creation

01-12-23 Sold the following stock item to the domestic customer on cash with Bill Ref. No SA03.

Item Godown Qty Rate
K5 Mobile Phones Main Location 10 2000

Go to Gateway of Tally: From the Gateway of Tally screen, navigate to "Accounting Vouchers".

Create Sales Voucher:

  • In the Accounting Vouchers menu, select "F8: Sales" to create a new sales voucher.

Enter Voucher Details:

  • Date: Set the date as 01-12-23.
  • Customer Invoice No.: Enter "SA03" as the bill reference number.
  • Under "Ledger Account", select the appropriate cash ledger account.

Enter Stock Item Details:

  • Select "K5 Mobile Phones" as the stock item.
  • Choose the appropriate godown (e.g., "Main Location") from where the stock is sourced.
  • Enter 10 in the quantity field and 2000 in the rate field.

Save and Confirm: After entering all the details accurately, save the voucher by pressing Ctrl + A. Confirm any prompts if required.

company_creation

30-12-23 Purchased the following stock item from the domestic trader on cash with Bill Ref No 03.

Item Godown Qty Rate
K5 Mobile Phones Main Location 20 1000

Go to Gateway of Tally: From the Gateway of Tally screen, navigate to "Accounting Vouchers".

Create Purchase Voucher:

  • In the Accounting Vouchers menu, select "F9: Purchase" to create a new purchase voucher.

Enter Voucher Details:

  • Date: Set the date as 30-12-23.
  • Supplier Invoice No.: Enter "03" as the bill reference number.
  • Under "Supplier Invoice No.", enter the name of the domestic trader.

Enter Stock Item Details:

  • Select "K5 Mobile Phones" as the stock item.
  • Choose the appropriate godown (e.g., "Main Location") where the stock is stored.
  • Enter 20 in the quantity field and 1000 in the rate field.

Save and Confirm: After entering all the details accurately, save the voucher by pressing Ctrl + A. Confirm any prompts if required.

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Stock Transfer

30-12-23 Aathi Shop transferred 20 Nos. of K6 Mobile phones from Main Location to Branch Location in Mysore city.

Item Qty Rate
K6 Mobile Phones 20 2000

Go to Gateway of Tally: From the Gateway of Tally screen, navigate to "Accounting Vouchers".

Create Stock Journal Voucher:

  • In the Accounting Vouchers menu, select "F7: Stock Journal" to create a new stock journal voucher.

Enter Voucher Details:

  • Date: Set the date as 30-12-23.
  • Select "Main Location" as the Source (Consumption) and "Branch Location" as the Destination (Production).

Enter Stock Item Details:

  • Under Source (Consumption):
    • Select "K6 Mobile Phones" as the stock item.
    • Enter -20 in the quantity field (negative quantity indicates a decrease in the Main Location) and 2000 in the rate field.
  • Under Destination (Production):
    • Select "K6 Mobile Phones" as the stock item.
    • Enter 20 in the quantity field and 2000 in the rate field.

Save and Confirm: After entering all the details accurately, save the voucher by pressing Ctrl + A. Confirm any prompts if required.

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REPORTS


Profit & Loss:

  • Go to Gateway of Tally: From the Gateway of Tally screen, navigate to "Reports".
  • Access Financial Reports: Under the Reports menu, select "Profit & Loss Account" or "Profit & Loss A/C".
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Balance Sheet

  • Go to Gateway of Tally: From the Gateway of Tally screen, navigate to "Reports".
  • Access Financial Reports: Under the Reports menu, select "Balance Sheet".
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Stock Summary:

  • Go to Gateway of Tally: From the Gateway of Tally screen, navigate to "Reports".
  • Access Financial Reports: Under the Reports menu, select "Stock Summary".
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Stock Item Monthly Summary:

  • Go to Gateway of Tally: From the Gateway of Tally screen, navigate to "Reports".
  • Access Financial Reports: Under the Reports menu, select "Stock Summary".
  • Select Stock Summary: In the Reports submenu, choose "Stock Item Monthly Summary".
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Stock Item Voucher:

  • Go to Gateway of Tally: From the Gateway of Tally screen, navigate to "Reports".
  • Access Financial Reports: Under the Reports menu, select "Stock Summary".
  • Select Stock Summary: In the Stock Item Monthly Summary submenu, choose "Stock Item Voucher".
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Ratio Analysis:

  • Go to Gateway of Tally: From the Gateway of Tally screen, navigate to "Reports".
  • Access Reports: Under the Reports menu, select "Ratio Analysis".
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Stock Location:

  • Go to Gateway of Tally: From the Gateway of Tally screen, navigate to "Reports".
  • Under the Reports menu, select "Display More Reports".
  • From the Display More Reports submenu, choose "Inventory Books".
  • You'll be prompted to set the reporting parameters for the Stock Summary report.
  • Choose the appropriate options for:
    • Location: Select the desired location or leave it blank to view stock across all locations.
    • As On Date: Set the date for which you want to view the stock inventory report.
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Stock Query:

  • Go to Gateway of Tally: From the Gateway of Tally screen, navigate to "Reports".
  • Under the Reports menu, select "Display More Reports".
  • From the Display More Reports submenu, choose "Statements of Inventory".
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Stock Group Analysis:

  • Go to Gateway of Tally: From the Gateway of Tally screen, navigate to "Reports".
  • Under the Reports menu, select "Display More Reports".
  • From the Display More Reports submenu, choose "Statements of Inventory" select Movement Analysis.
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Tally Prime

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