Tag Archives: voucher entry

Steps to Perform in Financial Year End in Tally 9

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Objectives

 

This document intends to provide brief information on different procedures or options available, which can be used by the customers for starting a new financial year in Tally company data.

 

There are Three procedures available for starting new financial year in Tally:

 

1. Changing ‘Current Period‘ in Gateway of Tally.

2. ‘Splitting Company Data’ after finalization of accounts.

  • For Tally.ERP 9 Release 2.1 and Lower Releases (including Tally 9)
  • For Tally.ERP 9 Release 3.0 and above

3. Export Closing Balances and Import as Opening Balances in the newly created Company

  • For Tally.ERP 9 Release 3.0 and above

Information about starting new financial year:

Procedures for starting new financial year

When it should be done?

Why it should be followed?

Who should follow it?

 

 

 

Changing ‘Current Period’ in Gateway of Tally

Beginning of new financial year

 

Eg: If financial year is April to March, change the period from 1st April

* To start new financial year and continue voucher entry in same company data

 

* To carry forward all ledger balances without creating a new company

 

* To see reports of different financial years together

* Customers who wants to carry forward all ledger balances without creating a new company

 

* Who have started books of accounts in Tally recently (i.e., in last financial year)

 

* Customers who want to see reports for different financial years together

 

 

 

Splitting Company Data after finalisation of accounts

* When last financial year accounts are finalized/audited

 

* When data is accumulated for multiple financial years and data size has increased

* To reduce data size and to improve performance/ speed of Tally

 

* To secure old financial years data and work with current financial year in a separate folder

 

* To have separate company folders for different financial years

* To reduce data size and improve performance/ speed of Tally

 

* To secure old financial years data and work with current financial year in a separate folder

 

* To have separate company folders for different financial years

Export Closing Balances and Import as Opening Balances in the newly created Company

* When a new company is created.

* To carry forward all ledger/stock item balances to new company created

 

* To start new financial year and continue voucher entry in newly created company

* Customers who intends to create a new company for each financial year

 

* To carry forward all ledger balances to new company created

 

Walk through in Tally:

Changing ‘Current Period’ in Gateway of Tally

The Current financial year is 1-4-2010 to 31-03-2011, and in the Gateway of Tally it displays the Current Period as shown:

 


Fig 1.1

 

Now if you want to create a voucher on 1-4-2011, the error message Date above current period (31-Mar-11) is displayed.

 


Fig 1.2

 

Change the Current Period in the Gateway of Tally by pressing Alt + F2
Change Period

01-04-2011 to 31-03-2012, and then record the vouchers for the new financial year.

 


Fig 1.3

 

It will change the Current Period
information and you will be able to save vouchers for the financial year 2011-12.

 


Fig 1.4

 

Balances of the previous financial period will be carried forward without passing any closing transactions.

 

Note:
When the Current Period is changed in Gateway of tally you need not change the ‘Financial Year From:’ and ‘Books Beginning from:’ dates in Company Alteration Screen.

 

Split Company Data

 

Splitting Company Data after finalization of accounts,

 

Introduction

 
 

Tally’s flexible period-less accounting permits the entry of data for any number of years. This feature has tremendous benefits. The presence of voluminous old data creates unnecessary load on the system. Splitting a financial year enables you to retain most of the benefits while overcoming this system overhead.

When you split the data, two things happen:-

  1. New companies are created for the respective split periods.
  2. The entire data is retained in the original company.

How to Split Company Data:

 

I. For Tally.ERP 9 Release 2.1 and Lower Releases (including Tally 9)

Pre-split activities

 
 

Before you split the data, ensure that:

 

  • All adjustment forex gains/losses have been fully adjusted using Journal entries. Verify that the item “Unadjusted Forex Gains/Loss” does not appear in the balance sheet
  • There are no pending purchase bills/sales bills. Check the profit and loss account and inventory statements for pending purchase/sales bills. You may account them to the respective party accounts or to the respective “bills pending” accounts.
  • Ensure that all the Bank Vouchers are reconciled from Bank Reconciliation statement.
  • Ensure that a Backup of the data has been taken

 

Note: The customers using Tally.ERP 9 Release 2.0 and above releases, who have enabled the option Enable Auto Backup for the company can continue to split the data without taking the manual backup.

Procedure to Split the Financial Years

  1. Go to Gateway of Tally, Select Alt+F3: Cmp Info
  2. Select Split Company Data.
  3. Select the Company whose data is to be split.
  4. Tally recommends the split-off date based on the existing data. It is recommended that the Split Point is set as the beginning of the latest financial year, though Tally permits any date as the split point.
  5. Splits occur in sets of two periods. Hence, start with the latest. For example, you need to split a company’s four years data (1-4-2008 to 31-03-2012) into four separate “companies”, each with a particular financial year. Select the beginning of the latest financial year first (1-04-2011).


Fig 1.5

  1. On confirming the periods, two new companies will be created – one with data from 1-4-2008 to 31-03-2011, i.e., for three years, and the other for the period 1-4-2011 to 31-03-2012.

The historical data, for one or more financial years, will be preserved as a single company, and the current financial year, will be preserved as another company. Normally there is no reason or benefit to split the earlier years again into separate companies. If you wish to do so, repeat the steps mentioned above for the earlier period (1-4-2008 to 31-03-2009, 1-4-2009 to 31-03-2010 & 1-4-2010 to 31-3-2011).

 

All the companies are full companies in their own right. Data can be entered, displayed and altered. Please print the key financial reports (Trial Balance, Balance Sheet, Profit & Loss, and Stock Summary etc.) for each company for the relevant periods and compare them for accuracy.

 

Once you are satisfied that you have a successful split, it is advisable to take a backup of the original company and permanently delete its data from the hard-disk. This will prevent any accidental entry of fresh data into the old database.

 

To delete a company, press Alt+F3 at the Gateway of Tally, select a company to Alter it, and at the point where you can modify the Company Information, press Alt+D.

 

You will also need to alter the names of the two freshly created companies as per your requirement.

 

 

Data Splitting Errors and their possible solutions

 

Error Messages

 

Possible Suggestions/Solutions

 

Incorrect due date for bill No/ ledger

 

Reason: Due date entered in Billwise details screen is not correct.

Solution:

Open Tally.spl file available in the Tally folder and check the bill number mentioned.

  • Go to Gateway of Tally > Display > Day Book
  • Select or Search the required Voucher/ Invoice
  • Check the voucher for Billwise details and enter correct due date, and then re-accept the transac-tion
  • Proceed with splitting the data

 

Cannot understand the formula RRs does not Exist

 

Solution:

 

  • Create a new Company
  • Export the masters and vouchers into the company created newly
  • Proceed with splitting the data in new company

 

No accounting information

 

Or

 

No accounting details

 

Reason: While splitting the data, Tally consolidates all the entries made. This error occurs only if the system finds some subsequent alterations to a particular master, i.e., if you have changed the name of the master or if the entry is incomplete or if you have made some alterations to that particular entry.

 

Solution: Open Tally.spl file in notepad available in Tally Directory and check the message. This file provides you with information of the voucher number and date that has problem. Make a note of the same, re-accept or delete that particular voucher through day book and then try splitting.

 

Cannot change Parent of group

 

Solution: Open Tally.spl file in notepad available in Tally Directory after attempting to split, check the message, rectify the entry and proceed splitting.

 

No entries in voucher

 

Reason: This error may occur due to the following reasons:

 

(1) The Security Control and Tally Audit features have been enabled in the company creation screen and one or more vouchers have been deleted after auditing them.

 

(2) If voucher entries were passed enabling ‘Allow ’0′ Valued entries in vouchers’ feature and later disabled.

 

Solution:

 

(1) Accept the un-audited vouchers / ledgers (Gateway of Tally > Display > Statement of Accounts > Tally Audit > Vouchers/Ledgers F7: Accept all or F7 to accept one by one > Save

 

(2) Enable ‘Allow ’0′ Valued entries in Vouchers’ in F11 Features.

 

Parent belongs to different category

 

Reason: This error may occur if you have altered the cost category of a cost centre after entering few vouchers for the same.

 

Solution: Check the Tally.spl file available in the Tally folder, for the details of the error reported. Rectify the same and try splitting.

 

Ledger does not exist!

 

Reason: It has been observed that the masters (default ledger master) altered was not getting refreshed.

 

Solution: Upgrade to the latest version Tally.ERP 9 and try splitting.

 

Cost Category does not exist!

 

Reason: It has been observed that the masters (cost category/cost centre) altered was not getting refreshed.

 

Solution: Upgrade to the latest version Tally.ERP 9 and try splitting.

 

Godown/Location does not exist!


 

 

Reason: It has been observed that the Destination Godown/Location name disappears once a Stock Journal with Voucher Class entry is passed.

 

Solution: Upgrade to the latest version Tally.ERP 9 and try splitting.

 

FAQ’s

 

Question 1:

 

I have been using Tally and wish to split the company data. Will there be a problem in synchroni-zation?

Answer:

You will not have any problem in synchronising the existing companies. However after split, the new companies will have a new identification, you need to configure ‘Client /Server Rule’ in newly created companies and start the synchronisation process.

Question 2:

Is it possible to import the Excise Opening stock after splitting the data in Tally.ERP 9?

Answer:

Yes, it is possible to import the Excise Opening stock. If you are using ‘Excise for Dealers’ module of Tally.ERP 9 and split the company data, follow the below mentioned procedure to account the Closing Stock as the Opening Stock after splitting the data.

The procedure of importing the Data is different for –

  • The Company which has data of One Financial Year
  • The company which has data for multiple Financial Year

Tally.erp9 Release 3 now has a new Banking Module to simplify banking

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In Tally.ERP 9, Release 3.0 we have provided the Banking Module to address the following business requirements:

 

  1. Enabling Cheque Printing
    The Cheque Printing option (in F11: Accounting Features) is enabled by default for all the new Companies created in Release 3.0 (onwards). This is done to ensure that the customer is aware of this feature and he can use this effectively to print the Cheques neatly.

 

  1. Cheque Printing Configuration with preview
    1. The Cheque Printing can be configured from F11: Accounting Features and also from Bank Ledger Master.
    2. The existing Cheque Printing Configuration screen has been simplified, with additional options such as Copy from default Sample Format or from one Bank to another Bank.
    3. Additional options to print or hide the Company Signatory details have been provided to print the Cheques having these details (pre-printed).
    4. Print Preview option has been provided for Cheque printing at the Configuration level itself, while setting/altering the Printing Configuration to save time as the user can see the preview from the same screen itself. It will also help the customers in reducing the wastages of actual Cheques while setting the Printing Configurations.
    5. Now, the cheques can also be printed from Journal and Purchase Vouchers also.

 

  1. Multiple Cheques Printing

    The new Banking Module allows the printing of multiple cheques from the Voucher creation screen or from Cheque Printing Utility. Cheque details will be displayed before printing the cheques. Instrument number if not provided during Voucher Entry, can be provided after printing the cheque also. The new feature also supports continuous printing of Cheques from the Voucher or from the Cheque Printing report. The system also displays the Cheque Printing status (printed or pending for printing).

     

  2. Multiple instrument types and Modes of Transactions are supported in a single Voucher

    The new Banking module allows recording the payments/receipts supporting multiple instrument types and various modes of Transactions such as Cheque, DD, Inter Bank Transfer etc. unlike the earlier system which made it mandatory for the customers to pass multiple Vouchers for different modes.

 

  1. Bank Reconciliation
    1. Pending Reconciliation details will now be carried forward after splitting the data.
    2. Instrument/Mode of Payment wise reconciliation is provided.
    3. Facility to Create the required Vouchers from the Bank Reconciliation report itself without quitting this report has been provided. This will facilitate the user to enter the unseen transactions such as Bank Charges or Interest Paid etc. from the BRS screen. The user can be rest assured that the Bank Reconciliation is not exited without saving complete details.
    4. Allows the user to manually enter the Opening BRS
      details while creating a new Company in Tally.ERP 9. This may also be required if the customer has splitted the company from an earlier Release (prior to 3.0) and then upgraded to Release 3.0.
    5. The BRS Report can now be filtered based on the period specified by the user unlike the earlier report which displayed all the un-reconciled Vouchers till date.

     

  2. Deposit Slip

    Deposit slip can now be printed for single or multiple instruments (e.g. cheques, DD’s etc.) which have to be deposited to the Bank.

    Imagine the time spent by Office Boy in filling the deposit slip for 50 Cheques that needs to be deposited in the Bank on each day. Now he can achieve the same in no time and without any errors.

 

 

  1. Payment Advice

    Payment Advice can now be generated with the Payment details and the details of the Bill(s) against which the payment has been made to the Vendors from the Voucher Printing itself. Also, the Payment Advice for all the Payment Vouchers for a Period can be generated from Payment Advice report under Banking. This will help the customers to manage the Outstandings and in turn, the Vendors in a better way.

     

     

For more information, you can refer to
the
Banking presentation or Getting Started with Banking booklet available here.

 

Please send in your feedback/suggestions to us.

User defined Voucher types in Tally9

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Did you know…?

If you have created user-defined voucher types and want to add more during voucher entry, Tally allows you to do so.

In the voucher entry screen, as shown below, press Alt+C before selecting Voucher Type from the list

This leads to Voucher Type Creation (Secondary) screen that allows you to create a new voucher type.

Ledger Balance in Tally 9 on a particular date

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Do you know…?

In Tally, the ledger balance of a ledger during voucher entry can be set in two ways.

a)      Ledger balance as on voucher date.

b)      Ledger balance as on current date.

As on voucher date

The balance displayed will be as on the current date of the voucher, irrespective of the closing balance.

For example, if the cash balance as on 10th April was Rs.9000 and the current balance as on current date, 18th May, is Rs.4500, any voucher entered on 10th April will display Rs.9000 as the current balance for the ledger.

As on current date

The balance displayed will be always the current balance, irrespective of the date of voucher entry.

Set F12: Configure as shown in the following figure.

Set Show Balance as on Voucher Date to Yes in F12: Configure. The following
Voucher entry screen with Balance as on voucher date appears.

When Show ledger current balance is set to Yes in F12: Configure, the following voucher entry screen appears.

Another Competition on tally and Stakes have doubled now. Prices worth

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I am pleased to announce the winner of the lucky draw. It is Mr Deepak. Deepak gets a chance any of the lists of customizations available in tally 9. Viewers, who have not been fortunate enough to win it this time, here another one for you.

I decided to start a new contest and this time I will reward the commentators. So keep pisting your comments on the blog and asking questions if you have any.

So at the end of this month I will reward the first 2 commentators with the following prizes:

1st place will Customisations Worth Rs 5400/- (That is any three from the list below) and

2nd place will get Rs 3600/- worth of customizations (That is any 2 from the list below)

Comments will be reviewed by me and must be post related. Prices cannot be converted in cash. The competition ends on 31st march 2008.

Keep visiting for more exciting stuff on this blog.

  1. Standard Narration in Tally 7.2 & Tally 9
  2. Running Balance in Tally 7.2 & Tally 9
  3. Advanced Voucher Type Security in Tally 7.2 & Tally 9
  4. Unique Voucher Number in Tally 7.2 & Tally 9
  5. Additional Narration/ Remarks in Voucher Entry in Tally 7.2 & Tally 9
  6. Party Ledger Reconciliation in Tally 7.2 & Tally 9
  7. Pay-in Slip Printing in Tally 7.2 & Tally 9
  8. Cash/ Bank Balances in Day Book in Tally 7.2 & Tally 9
  9. Contact Address Book in Tally 7.2 & Tally 9
  10. Voucher Authorisation (Passing System) in Tally 7.2 & Tally 9
  11. Group level security in Tally 7.2 & Tally 9

http://www.winjit.com/
Winjit technologies Pvt Ltd is an authorized service centre of Tally. We provide various services on Customization in Tally 7.2, Tally 9.0, Tally 9.Please email tally@winjit.com For all your customisations, Tally Customisations. Support Inquries, Call US

http://www.winjit.com/ Winjit technologies is an authorized service centre of Tally. We provide various services on Customization in Tally 7.2, 9.0.Please email tally@winjit.com

For all your customisations, Tally Customisations. Support Inquries, Call US

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Did you know…?

To view select transactions in detail from Ledger vouchers, Group voucher reports and Day books, highlight the transaction and press Shift + Enter.

Consider a voucher has multiple ledgers. To view the narration for the ledger, highlight the subsequent ledger and press Shift + Enter to explode the entry.

Day Book with a single entry exploded appears as shown.

Voucher entry screen of the above exploded transaction displays.

Finalization entries for the previous year

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Did you know…?

You can pass finalization entries for the previous year in the voucher entry screen of Current Year.

  1. Press Alt+F2 to get Change Period window and enter the previous years period against From and To date fields.

  2. Pass the entry for the pervious year and save the voucher. Tally will accept and update the voucher for the previous year.