The first step in tally is to launch the tally software

Click the Education mode for learning.

Setting Up company File

1. Name of the company.

2. Address of the company that p.o box.

3. Select the country of origin where you are based.

4. Click enter or accept to move to next step.

Setting up financial year or accounting year

1. Select the accounting period of your records so as to help you in reconciliation and post balance sheet items

Creating chart of account

1. First create ledger account

2. Specify if it is assets, liabilities, expenses, incomes and Equity or capital.

Entering sundry debtors(customers)

1. You used ledger again to create customers in your file

2. Specify under to be sundry debtor

Entering Sundry creditors( suppliers)

1. You used ledger again to create suppliers in your file

2. Specify under to be sundry creditor

Raising sale order

1. To record sale transaction.

2. Create sale account under ledger .

3. Specify the account as sale account under.

Raising purchase order

1. To record purchase transaction.

2. Create purchase account under ledger .

3. Specify the account as purchase account under.

Receive payment

1. You need to have cash account and bank account

pay bills

Altering tally features to accept passing of journal entries

Setting up accounting features to accept discount on purchases and sales

Generating trial balance

Generating profit and loss account

Extracting balance sheets