Certificate Course in Tally Prime
Kickstart your IT career with our 3-month Tally Prime program and become a certified expert!
- Duration: 3 months
- Course Fee: ₹ 4500
- Career Opportunities: Data Entry Operator, Computer Operator, Accountant, and more
Our comprehensive Tally Prime course will help you master accounting software, empowering you to handle real-world business financial operations. Gain hands-on experience with data entry, reporting, and taxation to enhance your professional growth in the accounting and IT industries.
This course is designed for individuals looking to start or advance their career in accounting, bookkeeping, or related fields. Get ready to unlock job opportunities across various industries with your new Tally Prime skills!
Course Curriculum
Basic Concepts of Financial Accounting
- Definition and objectives of financial accounting
- The role of financial accounting in business
- Key principles and concepts in financial accounting
- The accounting equation: Assets = Liabilities + Equity
- Overview of financial statements: Income statement, balance sheet, and cash flow statement
- Assets, liabilities, and equity
- Revenue, expenses, and profit
- Double-entry system: Debit and credit
- Accrual accounting vs. cash accounting
- Capital and drawings
- Current and non-current assets/liabilities
- Steps in the accounting cycle
- Journal entries and ledger accounts
- Posting to the trial balance
- Adjusting entries and corrections
- Preparation of financial statements
- Types of transactions: Cash, credit, and non-cash transactions
- How to record transactions in journals
- Journalizing: The process of recording transactions
- Ledger accounts and their role in financial accounting
- Trial balance and its purpose in accounting
- The Income Statement (Profit & Loss Statement)
- The Balance Sheet (Statement of Financial Position)
- The Cash Flow Statement
- How to prepare and interpret each financial statement
- Understanding the relationship between the three statements
- Importance of adjusting entries
- Common adjustments: Prepaid expenses, accrued revenue, and accrued expenses
- Closing entries and their role in the accounting cycle
- Post-closing trial balance
- Transfer of net income or loss to the capital account
- Understanding depreciation: Definition and methods (Straight Line, Reducing Balance, etc.)
- How to calculate and account for depreciation
- Inventory valuation methods: FIFO, LIFO, and Weighted Average
- Inventory adjustment and its impact on financial statements
- Overview of financial ratio analysis
- Liquidity ratios: Current ratio, quick ratio
- Profitability ratios: Gross profit margin, return on assets
- Solvency ratios: Debt-to-equity ratio
- How to interpret and use financial ratios in decision-making
- Review of all the financial accounting concepts covered
- Practical exercises: Recording journal entries and preparing financial statements
- Group discussion: Understanding real-world financial statements
- Final exam or project assignment on creating financial statements
Module 1: Introduction to Financial Accounting
Module 2: Basic Accounting Terms and Concepts
Module 3: The Accounting Cycle
Module 4: Recording Transactions
Module 5: Financial Statements
Module 6: Adjustments and Closing Entries
Module 7: Depreciation and Inventory Accounting
Module 8: Financial Ratios and Analysis
Module 9: Revision and Hands-on Practice
Tally Prime with GST
- Installing and configuring Tally Prime with GST settings
- Creating a company in Tally Prime with GST configuration
- Exploring the GST features in Tally (activation, configuration of GSTIN, tax rates)
- Setting up GST tax categories and GST Ledger accounts
Module 1: Introduction to Tally Prime and GST
- Step-by-step guide to GST registration in Tally Prime
- Configuring GST-related details for the company: GSTIN, GST Registration type
- Creating GST Ledgers: CGST, SGST, IGST, and Input Tax Credit (ITC) ledgers
- Setting up tax rates: 0%, 5%, 12%, 18%, and 28% tax slabs in Tally
- Enabling GST on purchases, sales, and expenses in Tally
Module 2: GST Registration and Setup in Tally
- Recording GST sales transactions with tax calculation (both cash and credit sales)
- Recording GST purchase transactions with tax calculation (both cash and credit purchases)
- Generating tax invoices for different GST transactions
- Recording GST payments and GST receipts in Tally
- Generating sales and purchase reports for GST compliance
Module 3: Recording GST Sales and Purchases
- Generating GSTR-1 (Outward Supplies) from Tally:
- Sales invoices
- B2B and B2C details
- HSN-wise summary
- Filing GSTR-3B from Tally:
- Calculating and reporting tax liability (Output tax and Input tax)
- Generating ITC (Input Tax Credit) details
- Filing GSTR-9 (Annual return) from Tally
- Exporting GST Returns in XML format for submission to GST portal
- Understanding GST filing deadlines and the process of late filing
Module 4: Managing GST Returns in Tally
- Recording reverse charge transactions (RCM purchases and sales)
- Handling GST on export transactions (zero-rated sales, tax-exempt transactions)
- Managing stock transfers between different branches or warehouses and its impact on GST
- Recording imports and exports in Tally (customs duties and shipping charges)
- Generating export-related GST reports for businesses
Module 5: Advanced GST Transactions
- Configuring multi-state business operations in Tally
- Recording sales and purchases for multiple states with appropriate GST tax slabs
- Generating state-wise GST reports for compliance
- Filing IGST returns for inter-state transactions
- Managing inter-state stock transfers and tax implications in Tally
Module 6: Managing GST in Multi-State Businesses
- Configuring payroll in Tally (salary components, deductions)
- Managing Employee-related GST: TDS on salary payments and other employee benefits
- Generating payslips and statutory reports (PF, ESI, and TDS) using Tally
- TDS adjustments and GST liability from employee-related transactions
- Generating compliance reports for payroll-related taxation in Tally
Module 7: Payroll and Taxation Compliance in Tally
- Setting up stock groups, stock categories, and units of measurement for GST-compliant inventory
- Recording inventory purchases and sales with GST calculations
- Tracking GST Input Tax Credit (ITC) on inventory purchases
- Managing stock transfers and GST adjustments in Tally
- Generating stock reports: Stock Summary, Stock Movement, and Inventory Valuation reports
Module 8: GST and Inventory Management
- Performing bank reconciliation in Tally while matching GST-related payments and receipts
- GST payments: Recording payments to the government for GST tax liabilities
- Handling GST refunds: Recording and tracking refunds due to excess payments
- Generating GST payment reports and reconciliation statements
- Managing GST refund claims and their status in Tally
Module 9: Bank Reconciliation and GST Compliance
- Closing books for the financial year with GST adjustments
- Filing GSTR-9 for the end of the financial year
- Generating final GST reports: Annual returns, reconciliation reports
- Preparing for GST audits and tax assessments using Tally data
- GST-related year-end reconciliation and ITC claims
Module 10: Year-End Process and GST Filing
- Practical Exams: Students will be required to handle real-world accounting scenarios with GST in Tally, including transactions, invoicing, GST filing, and reconciliation.
- Assignments: Completion of GST returns, sales and purchase entries, and inventory management in Tally.
- Project Work: Students will create and maintain complete accounting books for a sample business, ensuring GST compliance and generating all required reports.
Assessment:
- Hands-on experience with GST-compliant accounting processes, including GST invoicing, filing returns, and completing transactions.
- Practical knowledge of handling GST in multi-state operations, export/import businesses, and GST audits.
- Expertise in using Tally Prime software for tax filing, GST reports, and compliance management.