TallyEssential Level 1

TallyEssential Certification
Sl. Contents Hours NSDC-QPs

No.
1 TallyEssential Level 1 35 BSC/Q1001 - Accounts Executive (Recording &

Reporting)
Table of Content
SKU Name/Chapter Name Hours
TallyEssential Level 1 35
Chapter 1: Fundamentals of Accounting 5
1.1 Introduction
1.1.1 Meaning of Accounting
1.2 Terminologies used in Accounting
1.3 Concepts of Accounting
1.4 Double Entry System of Accounting
1.4.1 Uses of Debit and Credit
1.4.2 Rules of Debit and Credit
1.5 Golden Rules of Accounting
1.6 Recording of Business Transactions
1.6.1 Journalising Transactions
1.7 Trial Balance
1.8 Financial Statements
1.8.1 Trading Account
1.8.2 Profit & Loss Account
1.8.3 Balance Sheet
1.9 Subsidiary Books & Control Accounts
1.9.1 Cash Book
1.9.2 Petty Cash Book
1.9.3 Purchase (Journal) Book
1.9.4 Purchases Return (Journal) Book
1.9.5 Sales (Journal) Book
1.9.6 Sales Return (Journal) Book
1.9.7 Journal Proper
1.9.8 Control Accounts
1.10 Depreciation
1.10.1 Methods for Depreciation
1.10.2 Preparation of Depreciation schedule
1.11 Computerised Accounting
1.11.1 Advantages of computerised accounting
1.11.2 Accounting Structure for computerised accounting
Conclusion
Key Takeaways
Practice Exercises
Chapter 2: Introduction to TallyPrime 3
2.1 Introduction
2.2 Features of TallyPrime
2.3 Downloading and Installation of TallyPrime
2.4 Types of Licenses in TallyPrime
2.5 Activate New License
2.6 Reactivate License in TallyPrime
2.7 Use License from Network in a Multiuser Environment
2.8 Working TallyPrime in Educational Mode
2.9 Company Creation and Setting up Company Features in TallyPrime
2.10 Getting Started with TallyPrime
2.10.1 Navigating from Anywhere to Anywhere in TallyPrime
2.11 F12 Configuration in TallyPrime
2.12 Alter Company Details
2.13 Shut the Company
Conclusion
Key Takeaways
Practice Exercises
Chapter 3: Maintaining Chart of Accounts 5
3.1 Introduction
3.2 Chart of Accounts
3.3 Creation of Masters in TallyPrime
3.3.1 Accounting Masters
3.3.2 Inventory Masters
3.4 Alteration of Masters in TallyPrime
3.5 Deletion of Masters in TallyPrime
3.6 Multi-Masters Creation and Display of Chart of Accounts
3.6.1 Multi Groups Creation
3.6.2 Multi Ledgers Creation
3.6.3 Multi Stock Groups Creation
3.6.4 Multi Stock Items Creation
Conclusion
Key Takeaways
Shortcut Keys
Practice Exercises
Chapter 4: Recording and Maintaining Accounting Transactions 6
4.1 Introduction
4.2 Recording Transactions in Tally
4.3 Recording Accounting Vouchers in TallyPrime
4.3.1 Receipt Voucher (F6)
4.3.2 Contra Voucher (F4)
4.3.3 Payment Voucher (F5)
4.3.4 Purchase Voucher (F9)
4.3.5 Sales Voucher (F8)
4.3.6 Debit Note Voucher (Alt+F5)
4.3.7 Credit Note Voucher (Alt+F6)
4.3.8 Journal Voucher (F7)
Conclusion
Key Takeaways
Shortcut Keys
Practice Exercises
Chapter 5: Banking 6
5.1 Introduction
5.2 Banking Payments
5.3 Cheque Printing
5.3.1 Single Cheque Printing
5.3.2 Multi Cheque Printing
5.4 Deposit Slip
5.4.1 Cheque Deposit Slip
5.4.2 Cash Deposit Slip
5.5 Payment Advice
5.6 Bank Reconciliation
5.6.1 Manual Bank Reconciliation
5.6.2 Auto Bank Reconciliation
Conclusion
Key Takeaways
Shortcut Keys
Practice Exercises
Chapter 6: Generating Financial Statements and MIS Reports 2
6.1 Introduction
6.2 Final Accounts Reports in Tally
6.2.1 Trial Balance
6.2.2 Profit and Loss Account
6.2.3 Balance Sheet
6.2.4 Cash Flow & Fund Flow Analysis Report
6.2.5 Receipts and Payments
6.3 MIS Reports in Tally
6.3.1 Stock Summary Analysis
6.3.2 DayBook
6.3.3 Cash and Bank Book
6.3.4 Purchase Register
6.3.5 Sales Register
6.3.6 Journal Register
6.4 Bird’s eye view/Drill down display from anywhere to anywhere
Conclusion
Key Takeaways
Shortcut keys
Practice Exercises
Chapter 7: Data Security 2
7.1 Introduction
7.2 Security Control
7.3 Activation of Security Control
7.4 Creation of Security Levels (User Roles)
7.5 Creation of Users And Passwords for Company
7.6 Accessing the company using Security Levels
7.7 Auto Login
7.8 TallyVault
Conclusion
Key Takeaways
Shortcut Keys
Practice Exercises
Chapter 8: Company Data Management 2
8.1 Introduction
8.2 Backup of Company Data
8.3 Restoring of Company Data
8.4 Company Data Repair
8.5 Migration of Tally.ERP 9 Company Data to TallyPrime
Conclusion
Key Takeaways
Shortcut Keys
Practice Exercises
Chapter 9: Goods and Services Tax 4
9.1 Introduction
9.1.1 Why GST?
9.1.2 GST Tax Structure
9.1.3 Determination of Tax
9.1.4 GST Registration
9.1.5 Managing HSN CODE/SAC
9.1.6 GST Rate Structure
9.1.7 Supply of Goods and Services
9.1.8 Invoicing
9.1.9 Input Tax Credit
9.1.10 E-Way Bill
9.2 GST in TallyPrime
9.2.1 Creation of Company and Activating GST at Company Level
9.2.2 Introducing Capital into the Business
9.2.3 Creation of Masters in TallyPrime
9.3 Recording GST compliant transactions
9.3.1 Accounting Intrastate Supply of Goods
9.3.2 Accounting Interstate Supply of Goods
9.4 Input Tax Credit Set Off against Liability
9.5 GST Tax Payment
9.5.1 Timeline for payment of GST
9.5.2 Modes of Payment
9.5.3 Challan Reconciliation
9.6 Generating GST Returns for Regular Dealer in Tally
9.6.1 GSTR-1
9.6.2 GSTR-3B
9.6.3 GSTR-9 – GST Annual Computation
Conclusion
Key Takeaways
Shortcut Keys
Practice Exercises
Key Answers for Practice Exercises

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TallyEssential Certification

Sl. Contents Hours NSDC-QPs

1 TallyEssential Level 1 35 BSC/Q1001 - Accounts Executive (Recording &

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