If you're looking for Tally Interview Questions for Experienced or Freshers, you are at right place. There are lot of opportunities from many reputed companies in the world. According to research, an average Salary figures for an Tally ERP will be $46,912 - $69,761. So, You still have opportunity to move ahead in your career in Tally. Mindmajix offers Advanced Tally Interview Questions 2018 that helps you in cracking your interview & acquire dream career as Tally.
Q: Explain Tally and its applications?
Tally is an accounting software used for performing various purpose like: -
1. Performing all basic accounting functions of inventory management,
2. Costing like jobs and other miscellaneous overheads
3. Administering payroll of Office Staffs
4. Filing of tax return, profit and loss statement, preparation of balance sheets, GST, trial balance, Fund flow statement, etc.
5. Helping in budgeting and variations in it.
6. Calculation of interest on outstanding amounts.
7. Synchronizing and managing data over different locations.
Q: What is the difference between Tally ERP 9 and Tally 7.2?
Tally is a solution that integrates the essential functions related to accounting, reporting and inventory in any organizations. Tally ERP has included many features including Payroll management, TDS and other tax parameters.
Q: Mention what features are available in Tally ERP 9 for Accounting?
Tally ERP 9 offers the following benefits for any organizations: -
1. Outstanding Management for better Finance Management
2. Cost/Profit Centers Management for better ledger maintenance.
3. Invoicing of all dealers
4. Budget/Scenario supervision
5. Other features like Printing of checks, etc.
Q: What are the features integrated in Tally ERP 9?
>> E-mail option: Users can send reports to multiple beneficiaries.
>> Accounting Voucher: Unique ID to each voucher which also ensures that the voucher are numbered sequentially.
>> Printing Bank Transaction Details: Provides a choice to print bank details.
>> Credit Limits: The Credit Limit control set for a dealer will not be applied on sales order. An alert will be notified of the credit limit, whereas the user can save the voucher
>> GST: GST form details are entered in the invoice in its simplest form & will get printed
>> Excise for Manufacturers: Details of buyers and suppliers is exhibited on the voucher including daily stock maintenance, according to date, types and Tariff wise
>> Payroll: TALLY ERP 9, enables the giving out salary, according to the National Pension Scheme
>> Tax Audit: Updated with form like 3CB, 3CD and 3CA as per the requirements of the CBDT
>> XBRL: Constrained only for those organizations, having the nature of the report sent to consolidated.
>> The TDS facilities are the latest feature over the entire scale of TDS related processes, right from the creation of a TDS liability to discharge and creating the e-file for the same.
>> In the latest version of this software, the TDS feature has been totally modified with new features being integrated.
>> The ability to deduct TDS and also record the liability (as a result of purchase of services) in a single voucher
>> We can also opt for creating the TDS liability on a periodic basis.
>> Nowadays we don’t need to create different ledgers for payments associated or not associated to TDS, as the same ledger are being used for both transactions.
>> Additional features such as NRI payments are also facilitated
Q: What is the pre-defined ledgers available in Tally ERP 9?
1. Cash: Under the group Cash-in-hand, cash ledger is created, where the opening balance can be entered as the books begins from.
2. Profit and Loss Account: This ledger is created under Primary, where previous year’s profit or loss is entered as the opening balance.
Q: Mention the types of the ledger that can be made in Tally ERP 9.
The types of the ledger that can be made in Tally ERP 9 are as follows:-
1. Generating sales/purchase ledger.
2. Generating Income/Expense ledger.
3. Generating party ledger.
4. Generating bank account.
5. Generating tax ledger.
6. Generating current liabilities.
Q: Mention what is the shortcuts for Voucher Creation and Alteration Screen in Tally ERP 9?
Tally ERP 9, allows to create master (ledger, stock item) on the voucher by the shortcut Alt+C.
To modify any master item on a voucher, we have to select the specific ledger on the sales voucher screen and press Ctrl+Enter.
Q: Mention the shortcut to repeat the narration on a voucher.
For repeating the narration on any voucher we should press Ctrl + R.
Q: What is a group in Tally ERP 9?
Group is a compilation of ledgers of same nature. In any organization, operating costs like electric bills, telephone bill, conveyance, etc. are commonly included in groups. Ledger based on these expenses can be created to be used while accounting vouchers are entered. There are 28 Groups by default in Tally. ERP 9, out of which 15 are Primary Groups and 13 are subgroups.
Q: Mention the types of vouchers? Also give the shortcut for creating these vouchers?
Types of vouchers that can be created in Tally ERP 9 are: -
** Contra Voucher - (F4): It points the transfer of funds from a bank account to the cash account or cash account to a bank account, or in a different bank account of different banks.
** Payment Voucher - (F5): It explains the historical payments on each account like payment of salary, rental, etc.
** Receipt Voucher - (F6): Describes the transactions that relate to payments received.
** Journal Voucher - (F7): It maintains the expenses to maintain the organization’s running costs.
** Sales/Invoice Voucher - (F8): This voucher describes the sales made, it displays the sale invoice
** Credit Note Voucher - (Cntrl+F8): Entry to this voucher is made when a customer returns the products which wasn’t correctly dispensed.
** Purchase Voucher - (F9): Voucher made for items purchased for running the business like raw materials, etc.
** Debit Note Voucher - (Cntrl+F9): Voucher for keeping records when goods are returned to suppliers due to damage goods.
** Reversing Journals - F10: It is a special entry that gets automatically reversed after the date of the issue.
** Memo Voucher - Cntrl+F10: This voucher marks the unknown expense at a moment of time which can be converted to actual sale voucher, or can be deleted.
Q: Mention the shortcut to retrieve the last line which is removed in Tally ERP 9?
The shortcut to retrieve the last removed line is Ctrl+U.
Q: Mention the information preserved by Tally ERP 9 after creating a company.
Directory of Tally ERP 9 stores the path to the folder where the data will be stored.
Q: Mention what is the shortcut to recall the last narration saved for the first ledger in the voucher?
The short cut to recall the last narration stored for the first ledger in the voucher is Alt+R.
Q: Explain the setup process for an employee in Tally ERP 9 for their payroll?
For smooth processing of employees’ salaries, Tally ERP 9 give facility to create the required groups and classify into different categories like—Employee category, Employee groups and Employees.
Creating Employee group
Under employee group creation screen-> Select Primary Cost Category as the Category
Name the employee’s group as “Sales”
Select the group as “Primary”and then click on accept to finish with employee group creation
This is the way for Employee Group Selection.
Creating Employee Master:
Under employee master we can incorporate the information about the employees like constitutional details, passport & Visa, Appomitments Letters, etc.
Q: Explain trial balance and the process to check the trial balance in Tally ERP 9?
Trial Balance is mainly a synopsis of all the ledger balances and checks whether the mathematical accuracy and the information is right and balanced. It is a way to verify that the journal entries are correctly posted in the general ledger. In trial balance, the total of all debt balances should be equal the total of all the credit balances.
Q: Explain the default configuration of Tally ERP 9 provided for Balance Sheet?
Balance Sheet in Tally ERP 9 displays two different columns with Liabilities and Assets. The balance sheet also displays the closing balances of all the primary groups and capital accounts along with the net profit for the specified period as required by the organization.
Q: How can the Books of Accounts in Tally ERP 9 be viewed?
To view the Books of Accounts on Tally ERP 9, we should press D at the entry of Tally ERP 9 to pull the Display menu.
On the display menu, we have to press A to bring up the Accounts Books menu.
Q: Mention the options available in the Account Books Menu in Tally ERP 9?
Account Books Menu includes the following.
1. Bank Book (s)
2. Cash Book (s)
4. Group Summary
5. Sales Register
6. Purchase Register
7. Journal Register
Q: What is the use of statement of Inventory in Tally ERP 9?
The use of statement of inventory is to view the information of Inventory based on Godowns. Tracking each and every single detail of items in the inventory, along with carrying on the stock and check the budget variations v/s forecasts, plans, statistics, etc. Inventory in Tally.ERP 9 works in the same way as its accounting part with regard to displaying, modifying and printing of reports.
Q: Explain how you can view profit and loss statement in Tally ERP 9?
To view the profit and loss statement, we should press F1: Detailed which will display the data based on the default primary groups. With every transaction/voucher that has been entered instantly.
Q: How can schedule VI profit & loss account be generated using an auditors edition of Tally ERP 9?
For generating the schedule - VI balance sheet using an auditor’s edition of Tally ERP 9, we need to go to the gateway of Tally - Audit & Compliance - Financial Statements - Profit & Loss account. After that we should Press Ctrl+3 to load the previous year’s company to generate the Schedule VI profit & loss account with two year’s data.
Q: Mention the requirements to connect Tally ERP 9 remotely?
Tally ERP 9 has a very useful feature of remote connectivity for which we need to have the following system: -
|At Customer End||At Remote Location|
|Valid internet connection at Customer’s Premises||Valid internet connection|
|A licensed version of Tally ERP 9 with a Tally.NET subscription||A licensed version of Tally ERP 9|
|Create and authorize remote users for a company that has to be operated remotely||
A valid password and User ID to access the software
|For remote access load & connect the company to Tally.NET for remote access|
Q: What is the shortcut to select the credit not voucher in Tally ERP 9?
We should key in F8 (Cntrl+F8), which will enable us to select the credit note voucher in Tally ERP 9.
Q: What is the shortcut to duplicate a voucher and to add a voucher in Tally ERP 9?
We should use the shortcut keys Alt + 2 to duplicate a voucher.
We should use the shortcut keys Alt + A to add a voucher.
Q: What is the short cut to cancel a day book or list of vouchers in Tally ERP 9?
The short cut to cancel a day book or list of vouchers is ALT+X In Tally ERP 9.
Q: What is the short cut to filter the data based on the monetary value of almost all the report screens in Tally ERP 9?
To filter the data based on the monetary value on Tally ERP 9, we should use the short cut Alt+F12.
Q: Explain the features you can use to convert data to encrypted form in Tally ERP 9?
To convert data in encrypted form to Tally ERP 9, we can use the function of Tally Vault. To use Tally Vault we should go to the gateway of Tally and key in F3, then we can select the company for which we want to encrypt the data. Data will be decrypted to only those systems having valid password and persons can view those encrypted data.
Q: Mention what is the shortcut to select the purchase order voucher type?
Shortcut ALT+F4 is used to select the purchase order voucher type, at accounting and inventory voucher creation and alteration screens.
Q: How can text be copied from Tally?
We can use the shortcut Ctrl+Alt+C to copy text and shortcut Ctrl+Alt+V to paste the copied text.
Q: How can we check the organizations, statutory details?
We can use the shortcut Ctrl+Alt+B to check statutory details from any screen.
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