Accounting Features in Tally ERP 9
In Tally ERP 9, accounting features are one of the important categories of company features. It consists of several configurations and functionalities which are used for accounting transactions and reports. Accounting features can be opened by click on option F11: Features or by pressing function key F11.
Accounting features are divided into 6 sections, which are as follows:
- Outstanding Management
- Cost/ Profit Centre Management
- Budgets/ Scenarios Management
- Other Features
How to open Accounting Features
In Tally ERP 9, we can use one of the following methods to open accounting features:
- Path: Tally Main > Gateway of Tally > F11: Features > Accounting Features
- Function key: F1: Accounts (Press function key F1 from your keyword)
After executing the accounting features, the following screen will display:
Update the following details on Company Operations Alteration Screen:
- Maintain Accounts Only: If we want to maintain inventory transactions, then choose this option.
- Integrate accounts and inventory: If we want to include stock or inventory balances from inventory records, then choose the Yes option.
- Use income and expense a/c instead of profit & loss a/c: If we want to display the income and expenses accounts as a menu instead of profit & loss account, then we will choose this option.
- Enable Multi-Currency: If we want to work with multi-currencies, then choose this option.
- Maintain bill-wise details:
- Activate Interest calculation:
Cost/Profit centre management
- Maintain Payroll:
- Maintain cost centre:
- User cost centre of job costing:
- Use more than one cost category:
- Use predefined cost centre allocation in transactions:
- Show opening balance for revenue items in reports:
- Enable Invoicing:
- Record purchases in invoice mode
- Use credit and debit notes
- Record debit notes in invoice mode
- Record credit notes in invoice mode
Budgets and Scenario Management
- Maintain budgets and control
- Use optional vouchers and reversing journals
- Set/alter transaction type
- Set/alter banking type
- Enable cheque printing
- Set/alter post dates transaction features.
- Enable company logo
- Enabled zero-valued transactions
- Maintain multiple mailing details for ledgers and company
- Mark changed vouchers
In Tally ERP 9, after enabling all the required accounting features for company, press ctrl+A or press enter to save the configured data.