By developing proficiency in Tally, you can enhance your employability in the field of accounting and finance. Many companies looking for professionals who can effectively manage their financial data and transactions using Tally. This Tally Interview Questions and Answers blog covers the most important Tally questions and Answers to prepare you for the job interview. Also, learning these questions are beneficial for both freshers and experienced ones.
If you're looking for Tally Interview Questions for Experienced or Freshers, you are in right place. There are a lot of opportunities from many reputed companies in the world. According to research, an average Salary figure for a Tally ERP will be $46,912 - $69,761. So, You still have the opportunity to move ahead in your career in Tally. Mindmajix offers Advanced Tally Interview Questions 2023 that helps you in cracking your interview & acquire a dream career as Tally.
We have categorized Tally Interview Questions - 2023 (Updated) into 2 levels they are
|If you want to enrich your career and become a professional in ERP tools, then enroll in "NetSuite Training" - This course will help you to achieve excellence in this domain.|
Different editions with different prices
|Moderate (Approximately 2500 per year)|
Provides budgeting as one of the features
|Financial Management||Supports Financial Management||Not supported|
|HR and Payroll||Completely supported||Cannot be done|
|Job costing and manufacturing||Yes||No|
|Quotation And Estimates||Yes||Yes|
Tally is accounting software used for performing various purposes like -
Tally is a solution that integrates the essential functions related to accounting, reporting, and inventory in any organization. Tally ERP has included many features including Payroll management, TDS, and other tax parameters.
Tally ERP 9 offers the following benefits for any organization:-
The types of the ledger that can be made in Tally ERP 9 are as follows:-
Tally ERP 9, allows creating a 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.
For repeating the narration on any voucher we should press Ctrl + R.
The group is a compilation of ledgers of the same nature. In any organization, operating costs like electric bills, telephone bills, 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.
Types of vouchers that can be created in Tally ERP 9 are: -
The shortcut to retrieve the last removed line is Ctrl+U.
Directory of Tally ERP 9 stores the path to the folder where the data will be stored.
The shortcut to recall the last narration stored for the first ledger in the voucher is Alt+R.
For smooth processing of employees’ salaries, Tally ERP 9 gives the facility to create the required groups and classify them 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, Appointments Letters, etc.
Trial Balance is mainly a synopsis of all the ledger balances and checks whether the mathematical accuracy and the information are 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 to the total of all the credit balances.
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.
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.
Account Books Menu includes the following.
The use of a statement of inventory is to view the information on 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 reports.
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.
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. Then, 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.
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
We should key in F8 (Cntrl+F8), which will enable us to select the credit note 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.
The shortcut to cancel a daybook or list of vouchers is ALT+X In Tally ERP 9.
To filter the data based on the monetary value on Tally ERP 9, we should use the shortcut Alt+F12.
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 a valid password and persons can view those encrypted data.
Shortcut ALT+F4 is used to select the purchase order voucher type, at accounting and inventory voucher creation and alteration screens.
We can use the shortcut Ctrl+Alt+C to copy text and shortcut Ctrl+Alt+V to paste the copied text.
We can use the shortcut Ctrl+Alt+B to check statutory details from any screen.
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Ravindra Savaram is a Technical Lead at Mindmajix.com. His passion lies in writing articles on the most popular IT platforms including Machine learning, DevOps, Data Science, Artificial Intelligence, RPA, Deep Learning, and so on. You can stay up to date on all these technologies by following him on LinkedIn and Twitter.
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