About Tally With GST
The TallyPrime with GST course introduces learners to the fundamentals of accounting and business record management using TallyPrime. The course helps learners understand how financial transactions, inventory information, and GST-related processes can be managed within an accounting software environment.
What you'll Learn
Understand the fundamentals of accounting and learn how business transactions are recorded and organized in an accounting environment..
Learn how TallyPrime can be used to manage accounting information, business transactions, and financial records.
Understand how inventory information can be maintained, organized, and managed alongside accounting records.
Learn the fundamentals of managing GST-related accounting activities using TallyPrime and understand how GST information connects with business transactions.
Course Curriculam
Build a strong foundation in accounting concepts before applying them through TallyPrime. Understand how business transactions affect financial records and how accounting information is organized.
You’ll explore:
- Introduction to accounting
- Basic accounting concepts and principles
- Business transactions, accounts, and ledgers
- Debit and credit fundamentals
- Recording financial transactions
- Understanding accounting information
Get familiar with TallyPrime and understand how the software simplifies accounting and financial management. Learn the interface, navigation, and essential features needed to work efficiently.
You’ll explore:
- Introduction to TallyPrime and its features
- TallyPrime interface and navigation
- Company selection and basic configuration
- Understanding menus, dashboards, and reports
- Creating and managing company data
- Essential TallyPrime settings and preferences
Learn how to set up a company in TallyPrime and configure the accounting structure required for day-to-day business operations.
You’ll explore:
- Creating a company in TallyPrime
- Company configuration and financial year settings
- Creating account groups and ledgers
- Understanding predefined and custom account groups
- Opening balances and accounting configurations
- Maintaining company data and security settings
Learn how to record and manage everyday business transactions in TallyPrime using the appropriate accounting vouchers and ledgers.
You’ll explore:
- Creating and managing ledgers
- Understanding accounting vouchers
- Recording payment and receipt transactions
- Recording sales and purchase transactions
- Journal entries and adjustment transactions
- Contra transactions and fund transfers
- Editing, correcting, and reviewing transactions
Understand how TallyPrime helps businesses manage inventory efficiently, from creating stock masters to tracking stock movement and maintaining accurate inventory records.
You’ll explore:
- Introduction to inventory management
- Creating stock groups and stock categories
- Creating and managing stock items
- Units of measurement and inventory configuration
- Godowns and warehouse management
- Recording stock receipts and issues
- Tracking stock movement and inventory balances
Build a practical understanding of Goods and Services Tax (GST) and learn the fundamental concepts required to manage GST-related accounting transactions.
You’ll explore:
- Introduction to GST and its purpose
- GST registration and basic requirements
- Understanding CGST, SGST, and IGST
- GST rates and tax applicability
- Input Tax Credit fundamentals
- Taxable, exempt, and non-GST transactions
- Basic GST compliance concepts
Learn how to configure GST in TallyPrime and manage GST-compliant sales, purchases, invoices, and tax calculations for business transactions.
You’ll explore:
- Enabling and configuring GST in TallyPrime
- Creating GST-compliant ledgers and masters
- Recording GST sales and purchase transactions
- Creating GST-compliant invoices
- Managing CGST, SGST, and IGST transactions
- Understanding Input Tax Credit entries
- GST reports and transaction analysis
- Practical GST accounting scenarios
Understand how accounting and inventory functions work together in TallyPrime to provide accurate financial and stock information across business transactions.
You’ll explore:
- Integrating accounting and inventory transactions
- Sales and purchase transactions with inventory
- Stock valuation and inventory tracking
- Managing goods received and goods issued
- Understanding inventory-related accounting entries
- Tracking stock and financial impact together
- Analyzing inventory and accounting reports
Learn how to use TallyPrime reports to understand business performance, financial position, outstanding transactions, inventory status, and other important business information.
You’ll explore:
- Understanding TallyPrime business reports
- Trial Balance and ledger reports
- Profit & Loss Account
- Balance Sheet and financial position
- Outstanding receivables and payables
- Inventory and stock reports
- GST reports and tax information
- Filtering, viewing, and analyzing business data
Apply your TallyPrime and GST knowledge through practical business scenarios. Learn how to manage complete accounting workflows and generate meaningful financial and tax information.
You’ll explore:
- Setting up a business in TallyPrime
- Creating masters and accounting structures
- Recording day-to-day business transactions
- Managing sales, purchases, receipts, and payments
- Handling inventory and stock transactions
- Recording GST-compliant transactions
- Generating financial and GST reports
- Reviewing business performance through TallyPrime
- Practical accounting and GST case studies
