A complete guide on Business Accounting
About the Course
If you are a beginner in the Accounting and Finance domain, then TallyEssential is the course designed for your career growth. It covers topics from basic to intermediate Financial Accounting concepts.
The various concepts explained through illustrations, self-learning videos and real-life industry-based scenarios help establish a strong foundation for your Accounting and Financial career.
The course will help you understand how to perform basic to intermediate Accounting, Inventory and Basic Taxation (GST, TDS), and Simplification of Company Books of Accounts to name a few. The practical applications will be done on the new TallyPrime software to keep you at par with the new releases. To join this course locate a partner near you
TallyEssential course covers topics from basic to intermediate financial accounting concepts. It is available in three levels. Enclosed below are the topic details covered under each level:
Level 1 (Recording & Reporting)
Chapter 1: Fundamentals of Accounting
This chapter summarizes the Fundamentals of Accountancy, starting with the accounting terms, concepts, right up to the double entry system of accounting. It explains the need and usage of Golden Rules of Accounting in the books of accounting and recording the business transactions.
Chapter 2: Introduction to TallyPrime
This introductory chapter on Accounting using Tally explains how simple it is to download and install Tally in the system.
This chapter helps you understand the simplest way of creating a company and the company features and configurations.
Chapter 3: Maintaining Chart of Accounts
This chapter shows you how simple it is to create, alter and display the Chart of Accounts such as Ledgers, Groups, Stock Items and Units of Measure Creation.
Chapter 4: Recording and Maintaining Accounting Transactions
This chapter covers how to record transactions such as Receipt, Contra, Payment, Purchase, Sales, Debit Note, Credit Note, and Journal Vouchers with practical scenarios.
Chapter 5: Goods and Services Tax
The chapter includes the introduction of GST, GST in TallyPrime, Recording GST compliant transactions, Input Tax Credit Set Off against Liability, GST Tax Payment and Generating GST Returns for Regular Dealer in Tally.
Chapter 6: Banking
This chapter covers the basic Banking Feature, Cheque Printing, Bank Reconciliation, Generating Deposit Slips including Payment Advice.
Chapter 7: Generating Financial Statements and MIS Reports
This chapter covers all MIS reports in Tally; Trail Balance, Balance Sheet, Profit and Loss account, Cash Flow Statement, Ratio Analysis, Daybook, Receipts and Payments, Purchase and Sales Register including Inventory Reports.
Chapter 8: Data Security
This chapter covers Securing Financial Information of the Company, Creating Security Control, User Roles, Creation of Users and Change User.
Chapter 9: Company Data Management
This chapter covers how to securely take company data and restore without any data loss.
Level 2 (Accounts Payable and Receivable)
Chapter 1: Storage and Classification of Inventory
This chapter helps you understand the meaning and types of inventories. Also covers the creation of inventory masters such as Stock Groups, Stock Category, Warehouse and Batches.
Chapter 2: Accounts Receivable and Payable Management
This chapter covers the fundamentals and concepts of Outstanding Management, Enabling Bill-wise practical business scenarios on the given references such as, New Reference, Against Reference, Advance Reference, On account Reference with illustrations along with Bill Settlement and Credit Limit feature.
Chapter 3: Purchase and Sales Order Management
This chapter covers Management of Sales and Purchase Cycle, Placing an Order, Handling Rejections, Raising an Invoice against the order and complete it with receipts and payments.
Chapter 4: Tracking Additional Costs of Purchase
This chapter covers how to maintain additional costs incurred on purchase of stock.
Chapter 4: Goods and Services Tax
The chapter includes Recording GST-compliant transactions, E-Way Bill Report in Tally, Input Tax Credit Set Off against Liability, GST Tax Payment amongst other topics.
Chapter 5: Cost/Profit Centres Management
This chapter covers how to allocate expenses and incomes to different cost unit of the organization, automation of allocation of cost centre by creating cost centre classes in Tally and updating the reports instantly, once after recording the transactions.
Chapter 6: Budgets and Scenarios
This chapter covers how to maintain Budgets & Scenario Management in Tally
Chapter 7: Generating and Printing Reports
This chapter covers how to generate and print all Books and Registers in Tally including Inventory Reports.
Level 3 (Taxation and Compliance)
Chapter 1: Goods and Services Tax
This chapter covers Goods and Services Tax and enables recording intrastate and interstate transactions, purchase and sales return transaction with GST supplies inclusive of tax, purchase from composition dealer, exports and supply of exempted goods along with the procedure of adjusting input credit against available liability making tax payment to the government, generating GSTR-1 and GSTR-3B in Tally. This chapter also explains the composition dealer basic transactions and generating returns.
Chapter 2: Tax Deducted at Source
This chapter covers Tax Deducted at Source and enables configuring TDS at different levels and record Basic TDS transactions, TDS payment to government, generating TDS challan and generating TDS reports.
Chapter 3: Management of Business Data
This chapter covers Export and Import, and Open Database Connectivity (ODBC).
Chapter 4: Moving to the Next Financial Year
This chapter covers Export and Import, Splitting Company, and Group Company.
Our courses include interactive and interesting content, concepts and content delivery to ensure you a delightful learning experience.
FREQUENTLY ASKED QUESTIONS
Most frequent questions and answers
This courseware is highly recommended for learners who aspire to build a successful career in Accounts, Finance, Taxation and Banking sectors or as an entrepreneur. To get enrolled for TallyEssential, one must have completed 12th/PUC.
To get enrolled for TallyEssential, one must have completed 12th/PUC in any stream. You can then take the course since it has been designed in the best and simplest way possible which is aligned with the all new TallyPrime software.
Both the options are available, and candidates can opt for online or in person classes.
TallyEssential is a comprehensive certification program. It covers topics from basic to intermediate financial accounting concepts. It has 3 levels, and the content is aligned with the current market requirement which makes it industry-preferred.
TallyEssential is an incremental learning and its covers basic to intermediate concepts. And hence it is always recommended to go step by step to make the most out of the course.
The assessment is necessary to complete the course and attain the specialization certificate which will help your career growth and enable you to showcase the certificate.
The level-wise assessment will be of 45 mins each and single course of TallyEssential will be of 90 mins.
If you take level-wise course, then you get certificate for each level. If you join for TallyEssential as a single course, single certificate will be issued.
You can enroll for the course through our partner network spread across the country and globally. LOCATE A PARTNER nearby and enroll today for the course.
The course is priced at a very competitive cost. We would encourage you to LOCATE A PARTNER and immediately get enrolled. You have an option to enroll today with our partners and pay later. Check the details to know more.
Locate a Center to Enroll
We have a wide network of partners across India and Middle East Countries
You can also locate a partner from our Tally Education App
Explore our various industry- preferred courses and certifications and select the one that suits your requirement.
This international course help learners understand the basic concepts of Computerized Accounting with Tally.
TDS using Tally
This specialized course is a complete guide on Tax Deducted at Source (TDS).
GCC VAT Using Tally
This international courseware covers end to end details on GCC VAT, its concepts and usage.
This international courseware is the complete guide on Basics to Intermediate Accounting with scenarios for international markets.