Dear Diosys,
Now it comes necessary to guide us a little regarding Tally.
I already downloaded Tally 9 Trial and is finding some difficulty regarding it. So it will be helpful for me and others if you can guide us for achieving the below.
Aim:
To enter daily day trading and delivery trading details to Tally and calculate Taxes and so. Please list the step by step guide about how to create ledgers/vouchers to setup tally for this.
Thanks,
Haribird.
I got a tutorial from net like below. But is not working for me. Hope you can write a better one than the below.
Now it comes necessary to guide us a little regarding Tally.
I already downloaded Tally 9 Trial and is finding some difficulty regarding it. So it will be helpful for me and others if you can guide us for achieving the below.
Aim:
To enter daily day trading and delivery trading details to Tally and calculate Taxes and so. Please list the step by step guide about how to create ledgers/vouchers to setup tally for this.
Thanks,
Haribird.
I got a tutorial from net like below. But is not working for me. Hope you can write a better one than the below.
Firstly, create a company as "Accounts with Inventory" Option.
Create following ledger accounts in tally
1. Purchase of Shares A/c'
2. Sale of Shares A/c
(Open the above accounts under Purchase and Sale respy)
3. Speculation Purchase A/c
4. Speculation Sales A/c
(Open the above accounts as Direct Exps. or Income head. The head here will not make any difference as at the end of the year we will be netting off the two speculation account)
For Inventory of Shares follow following steps.
1. Open two groups:
i. Speculative Transactions Stock
ii. Delivery Based Transaction Stock
Mention each shares under two inventory groups by adding the same as stock item. CAUTION: Here make sure that you open two seperate accounts for the same stock if you are dealing in both Delivery Transactions and Speculative Transaction. E.g. Share of TISCO is defined in tally as TISCO - D and TISCO - S where D and S suggest that the entry in the inventory is for Delivery (D) and for Speculative (S) Transaction.
After above steps start entering entry BILL WISE only in JOURNAL mode.
At the end of the year close any one speculation account by transfering the balance to other speculation account. Balance either speculation profit or loss can be used for seperate reporting for Income Tax Purpose.
Create following ledger accounts in tally
1. Purchase of Shares A/c'
2. Sale of Shares A/c
(Open the above accounts under Purchase and Sale respy)
3. Speculation Purchase A/c
4. Speculation Sales A/c
(Open the above accounts as Direct Exps. or Income head. The head here will not make any difference as at the end of the year we will be netting off the two speculation account)
For Inventory of Shares follow following steps.
1. Open two groups:
i. Speculative Transactions Stock
ii. Delivery Based Transaction Stock
Mention each shares under two inventory groups by adding the same as stock item. CAUTION: Here make sure that you open two seperate accounts for the same stock if you are dealing in both Delivery Transactions and Speculative Transaction. E.g. Share of TISCO is defined in tally as TISCO - D and TISCO - S where D and S suggest that the entry in the inventory is for Delivery (D) and for Speculative (S) Transaction.
After above steps start entering entry BILL WISE only in JOURNAL mode.
At the end of the year close any one speculation account by transfering the balance to other speculation account. Balance either speculation profit or loss can be used for seperate reporting for Income Tax Purpose.
Last edited: