Accounting in Tally
Accounting is the core function of Tally, which makes it one of the most popular accounting software across the world. Tally provides a wide range of features that simplify and speed up accounting procedures. Some of the important functions are:
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Contra – Used only for cash and bank-related entries.
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Payment – For recording all types of payment transactions.
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Receipt – For recording receipts of cash, cheque, or bank transfer.
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Journal – For entries that do not involve cash or bank, as well as for closing entries.
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Sales – For sales billing and sales records.
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Purchases – For purchase billing and related entries.
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Credit Note & Debit Note – For adjustments against returns, discounts, or errors.
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Reverse Journal & Memos – For special adjustments and temporary entries.
These functions make accounting in Tally easy, accurate, and efficient, helping businesses manage their finances with confidence.
