Tally Practical Assignment

Tally Practical Assignment-27
There are many more features of Tally which you should know in detail if you want to fully understand Tally.I have written a detailed post on What is Tally and you should go through it.

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You can even download these Tally notes along with the practical assignment in the PDF format, later in this post, so you can use these notes in the future as well, whenever you feel like it. Opening balances of these 3 stock items would be milk – 10 liters, roti – 20 pieces and mobile – 5 numbers.

Here is the Tally ERP 9 practical assignment for you. Now, create sales ledgers – one for 28% GST rate and one for 5% GST rate.

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The company entered into contract with Maxwell and Co to provide technical service of Rs 200000 on 20 Jan.

Let’s start with the tally notes without wasting a single minute.

I have divided these notes in smaller different parts so that you can understand the Tally notes easily with as much less doubts as possible.Detailing is necessary and therefore these notes were long but I have tried to keep them as interesting and as knowledgeable as possible. I am giving you one single assignment which will cover everything that you have learned in these Tally notes till now.This is how in reality you will have to work with Tally.Also comment the answers once you complete the whole assignment. If you complete this practical assignment in Tally ERP 9 even with mistakes, you will learn much more than going to a Tally coaching center for 3 months.Just comment all of your answers and I’ll get back to you with any clarifications or suggestions.You can learn all about Tally which you can use right now in practical life with these Tally ERP 9 Notes.I have written everything about Tally from basics to practicals and it is indeed the most detailed Tally ERP 9 notes anyone has ever written. Similarly, create 1 sundry creditor outside your state and 1 sundry creditor inside your state. Check the Ratio Analysis and see what is the current ratio and quick ratio.Now, create GST Taxation ledgers for CGST, SGST and IGST for input as well as output taxation of GST. Now, create a purchase entry in which you will purchase 5 liters of milk at 5% GST rate for ₹50 per liter, 5 pieces of roti for ₹10 per piece and 3 numbers of mobile for ₹25,000 per mobile. You can comment down below if you get stuck at any place in this assignment.Also, create purchase ledgers in the same way each of 28% GST and 5% GST. Sell all the milk at ₹55 per liter with the same rate of GST as it was purchased. Now, check the profit and loss account and see what is the total value of sales for 5% GST.Create 1 sundry debtor outside your state and 1 sundry debtor inside your state. Sell 20 pieces of roti at ₹20 per piece and 1 mobile phone at ₹50,000 per mobile at the same rates of GST as it was purchased. Go to Stock Summary and see what is the gross profit on sales of milk under the FIFO and LIFO methodology of stock valuations.

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