Traderji.com - Discussion forum for Stocks Commodities & Forex


Tally question

Discuss Tally question at the Development of Software Utilities within the Traderji.com - Discussion forum for Stocks Commodities & Forex; I am a salaried professional and want to do my personal financial accounting in Tally. ...


Go Back   Traderji.com - Discussion forum for Stocks Commodities & Forex > TOOLS & RESOURCES > Development of Software Utilities

Development of Software Utilities Discuss the development of software tools and utilities here.


Reply
 
Thread Tools
  #1  
Old 28th December 2007, 05:27 PM
Member
 
Join Date: Jul 2007
Posts: 1
Thanks: 0
Thanked 0 Times in 0 Posts
freedinner is on a distinguished road
Post Tally question

I am a salaried professional and want to do my personal financial accounting in Tally.
Does anyone know how can I do share transactions in Tally?
I would like to create multiple entities like bank accounts, demat accounts and different shares.
The transaction order should be as per what we do. Money gets withdrawn from bank account to demat account and then we shares in demat account. Should take care of no of shares, price and brokerage as well.
Please let me know if you have any idea about this.

Thanks.



Reply With Quote
Sponsored Links
  #2  
Old 29th August 2008, 07:04 PM
Member
 
Join Date: Apr 2008
Posts: 75
Thanks: 0
Thanked 9 Times in 5 Posts
taswsol is on a distinguished road
Default Re: Tally question

Yes its long time to use TALLY Software.

Following methods you can use
If you want to enter detailed transaction in tally i.e. Buy, Rate, Qty, Script then you need to use Inventory Module & Batchwise stock.

or other way could be without detailed entries. but only heading.

Well for detailed entry you have to keep batchwise buying qty in lot and selling from particular batch will result to exact profit.

For summarised entries you can create HEAD under Current Assets i.e. Shares

and under Shares create accounts i.e. IDEA/INDIABULLS/POWERGRID/LT

Create one account in Indirect Receipt i.e. "Shares Incomes"
Create one account in Bank Account (Your broker) i.e. I have Indiabulls Securities Limited

How to post summarised BUY Entry
Say I buyed IDEA @ 85 and Qty = 10 The
IDEA DR (85*10+Brokarage)
Indiabulls Securites Limited CR (85*10+Brokarage)

How to post summarised Sell Entry
If Profit
Indiabulls Securities Ltd DR (90*10+Brokarage)
IDEA A/C Cr (actual earlier rate i.e 85*10+brokarage)
Shares Income Cr (the difference )

If Loss
Indiabulls Securities Ltd DR (80*10+brokarage)
Shares Income DR (the difference)
Idea A/c Cr (actual earlier rate i.e 85*10+brokarage)

This way you can maintain Broker Account in Bank Account so that you can withdraw money or make contra entry as it is like BANK Without Interest and this will also show you actual holding of money.
Shares Income will show you profit gained / loss
and SHARES head in current assets will show you actual invested position in each account i.e. script.

I think this may help you to maintain Shares transaction in Account software

Thank You
Technical Analysis Software Solutions.
http://www.geocities.com/taswsol
(EOD2AmiBroker - NSE/BSE + Indices downloader, exporter for AmiBroker with Schedular facility)
Reply With Quote
  #3  
Old 29th August 2008, 08:59 PM
Member
 
Join Date: Jul 2006
Posts: 513
Thanks: 29
Thanked 265 Times in 145 Posts
rkgoyal_98 is a jewel in the roughrkgoyal_98 is a jewel in the roughrkgoyal_98 is a jewel in the rough
Default Re: Tally question

Hello,

I have maintained my account in tally, it is complex set of entries with inventory module. bank and broker ledgers, i have also kept separate ledger for brokerage and stt.
u can try it
Rajeev
Reply With Quote
  #4  
Old 30th August 2008, 11:38 AM
Member
 
Join Date: Apr 2008
Posts: 75
Thanks: 0
Thanked 9 Times in 5 Posts
taswsol is on a distinguished road
Default Re: Tally question

Hello,

I consider STT / brokarage / postage saperate.. instead you can club all in AS Brokarage... maintaining saperate STT what you will gain! .. I consider STT / POSTAGE in brokarage and outword in single head.

Can you tell me what is use of maintaining STT in other heads?

Thank You

Techincal Analysis Software Solutions
http://www.geocities.com/taswsol
Reply With Quote
  #5  
Old 30th August 2008, 11:47 AM
Member
 
Join Date: Jul 2006
Posts: 513
Thanks: 29
Thanked 265 Times in 145 Posts
rkgoyal_98 is a jewel in the roughrkgoyal_98 is a jewel in the roughrkgoyal_98 is a jewel in the rough
Default Re: Tally question

Hello,

Though i have no immediate reason for keeping it seperate but i still kept it because some time there is refunds in brokrage and that head is kept seperate. STT there is some rule to adjust against the Taxes, exact details i am not aware at his time but when there is need i will find out. So it may help out in those times if we need to find out how nuch stt has been paid for adjustment in taxes.
Regards
Reply With Quote
  #6  
Old 20th December 2008, 01:58 AM
Member
 
Join Date: Mar 2008
Posts: 2
Thanks: 0
Thanked 0 Times in 0 Posts
darlingangel is on a distinguished road
Default Re: Tally question

Hello everyone:

What is the way in Tally, to automatically calculate and post interest, so that it is compounded, by the software itself; instead of manually.

I was told that there is a provision in Tally, by which the software itself calculate interest and post it at the year end or specified intervals.
Reply With Quote
  #7  
Old 8th February 2009, 09:14 PM
Member
 
Join Date: Nov 2008
Posts: 148
Thanks: 0
Thanked 19 Times in 16 Posts
thesaint is on a distinguished road
Default Re: Tally question

Yes its long time to use TALLY Software.

Following methods you can use
If you want to enter detailed transaction in tally i.e. Buy, Rate, Qty, Script then you need to use Inventory Module & Batchwise stock.

or other way could be without detailed entries. but only heading.

Well for detailed entry you have to keep batchwise buying qty in lot and selling from particular batch will result to exact profit.

For summarised entries you can create HEAD under Current Assets i.e. Shares

and under Shares create accounts i.e. IDEA/INDIABULLS/POWERGRID/LT

Create one account in Indirect Receipt i.e. "Shares Incomes"
Create one account in Bank Account (Your broker) i.e. I have Indiabulls Securities Limited

How to post summarised BUY Entry
Say I buyed IDEA @ 85 and Qty = 10 The
IDEA DR (85*10+Brokarage)
Indiabulls Securites Limited CR (85*10+Brokarage)

How to post summarised Sell Entry
If Profit
Indiabulls Securities Ltd DR (90*10+Brokarage)
IDEA A/C Cr (actual earlier rate i.e 85*10+brokarage)
Shares Income Cr (the difference )

If Loss
Indiabulls Securities Ltd DR (80*10+brokarage)
Shares Income DR (the difference)
Idea A/c Cr (actual earlier rate i.e 85*10+brokarage)

This way you can maintain Broker Account in Bank Account so that you can withdraw money or make contra entry as it is like BANK Without Interest and this will also show you actual holding of money.
Shares Income will show you profit gained / loss
and SHARES head in current assets will show you actual invested position in each account i.e. script.

I think this may help you to maintain Shares transaction in Account software

in wat to do the entry jv/purchase/sales pls do let me know also if SHARES IS IN CURRENT ASSEST and then again IDEA/LT too in current assest then how to do the entry pls simply fi how to create the ledgers step by step hope to hear soon
Reply With Quote
  #8  
Old 14th February 2009, 07:09 PM
Member
 
Join Date: Apr 2008
Posts: 75
Thanks: 0
Thanked 9 Times in 5 Posts
taswsol is on a distinguished road
Default Re: Tally question

Hello,

Create GROUP in current asset "Shares"

Create account named LT / Indiabulls / Idea individually under "SHARES" group.

Then create your BROKER account in "CASH / BANK" group so that it will also show you CURRENT Assets.

use Receipt / Payment vouchers for sale/ buy using given method.

Thanks
Technical Analysis Software Solutions

EOD2AmiBroker NSE/BSE downloader & export to AmiBroker.
http://www.geocities.com/taswsol
Reply With Quote
  #9  
Old 18th February 2009, 10:12 PM
Member
 
Join Date: Nov 2008
Posts: 148
Thanks: 0
Thanked 19 Times in 16 Posts
thesaint is on a distinguished road
Default Tally question

Still i did not get u pls can u tell me IDEA AND IDEA A/C are created under one head i.e. SHARE (under head i.e. CURRENT ASSETS) NOW comes SHARE INCOME under which head should i creat it i.e. INDIRECT INCOMES OR DIRECT INCOMES. rest i got it how to post buy and sell enteries hope to hear soon

Also would like to thank you
Reply With Quote
  #10  
Old 14th March 2009, 08:25 PM
Member
 
Join Date: Apr 2008
Posts: 75
Thanks: 0
Thanked 9 Times in 5 Posts
taswsol is on a distinguished road
Default Re: Tally question

Hello thesaint,

Share income account should be created under Indirect Incomes to come in Profit & Loss A/c.

Direct / Indirect are for Trading Business , dont get bothered.. Use indirect Incomes.

About Buy / Sale

BUY

Payment / Purchase voucher

Idea Acc Debit ( Amount + Brokarage)
Broker Account CREDIT

Dont maintain saperate brokarage account/ add brokarage in narration otherwise it will be more complicated to maintain actual buy rate though I think you pay brokarage as it is not returnable then why not to club with direct Idea A/c !! you can take ur own decision.

Sale Entry
use Sales voucher / Receipt voucher

Broker Account Debit ( total )
Idea Ac credit (actual Invested)
share Income (Debit / Credit )depending upon Profit / loss u got.


I think this is the answers to ur query.

Its very long time to use tally

Thank You

Technical Analysis Software Solutions.
http://www.geocities.com/taswsol

EOD2AmiBroker NSE/BSE EOD data downloader, filterer and export for AmiBroker with Indices.


Reply With Quote
Reply

Bookmarks


Advertise Here


Thread Tools

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off



All times are GMT +5.5. The time now is 03:16 AM.

Indemnity, Disclaimer & Disclosure Notice:
By visiting Traderji.com you automatically indicate that you agree to our Forum Rules, Indemnity, Disclaimer & Disclosure Notice and General Content Disclaimer Notice and indemnify Traderji.com, its associates and related parties of all claims howsoever resulting from the usage of the forum/site.
Disclaimer: Trading or investing in stocks & commodities is a high risk activity. Any action you choose to take in the markets is totally your own responsibility. You are recommended to make appropriate enquiries and seek appropriate advise before sending money, incurring any expenses, acting on recommendations or entering into any commitment in relation to any advertisement published here. Traderji.com does not vouch for any claims made by the advertisers of products and services. Traderji.com will not be held liable for any consequences in the event such claims are not honoured by the advertisers. Traderji.com will not be liable for any, direct or indirect, consequential or incidental damages or loss arising out of the use of any information by anybody mentioned anywhere on this site.
Disclosure: The information in this forum is neither an offer to sell nor solicitation to buy any of the securities mentioned herein. The writers may or may not be trading in the securities mentioned.
All names or products mentioned are trademarks or registered trademarks of their respective owners.
General Content Disclaimer Notice:
In light of our policy of encouraging candid, open exchanges of views and the rapid distribution of information originating from many sources, Traderji.com cannot determine the accuracy or legality of any information that may be uploaded to the forum. Opinions, advice and all other information expressed by participants in discussions are those of the author. You rely on such information at your own risk. You are urged to seek professional advice for specific, individual situations and not rely solely on advice or opinions given in the discussions. Since Traderji.com is an open and free discussion forum, any comments made by members of this forum in their posts reflect their own views and not of the owner or administrator of Traderji.com. Thus the owner/administrator indemnify themselves of all claims whatsoever and will not be liable or responsible for any members comments/views in this forum Traderji.com. Although we constantly delete all irrelevant content and/or SPAM, if you should find any objectionable or offensive posts made by members of this forum which you would like to bring to our notice for removal then please Contact Us.
 


Copyright © www.Traderji.com 2001 - , All rights reserved.

Recommended Websites - www.TradersEdgeIndia.com - www.TradingPicks.com - www.MasterOfTrading.com

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86 87 88 89 90 91 92 93 94 95 96 97 98 99 100 101 102 103 104 105 106 107 108 109 110 111 112 113 114 115 116 117 118 119 120 121 122 123 124 125 126 127 128 129 130 131 132 133 134 135 136 137 138 139 140 141 142 143 144 145 146 147 148 149 150 151 152 153 154 155 156 157 158 159 160 161 162 163 164 165 166 167 168 169 170 171 172 173 174 175 176 177 178 179 180 181 182 183 184 185 186 187 188 189 190 191 192 193 194 195 196 197 198 199 200 201 202 203 204 205 206 207 208 209 210 211 212 213 214 215 216 217 218 219 220 221 222 223 224 225 226 227 228 229 230 231 232 233 234 235 236 237 238 239 240 241 242 243 244 245