Overview:

This comprehensive course is designed to equip you with the essential skills to effectively use Tally Prime for all your business accounting needs, with a special focus on GST compliance. In this course, we will explore key functionalities of Tally Prime with a focus on GST-related transactions.

The following topics will be covered:

Topic 1: Fundamentals of Tally Prime

• Gain a solid understanding of Tally Prime’s interface and basic functionalities.
• Learn to create and manage ledgers and groups within the Tally Prime environment.
• Discover essential shortcuts and keyboard combinations for efficient navigation.
• Understand the steps involved in opening and navigating reports within Tally Prime.

Topic 2: Initial Setup & Inventory

• Learn how to add opening balances to your accounts.
• Master the process of creating and managing product information within the inventory module.

Topic 3: Purchase & Purchase Return Transactions

• Understand the process of recording purchase transactions accurately in Tally Prime.
• Learn to handle purchase returns effectively using debit notes.

Topic 4: Sales & Sales Return Transactions

• Learn to record sales transactions accurately and efficiently in Tally Prime.
• Understand the process of handling sales returns using credit notes.

Topic 5: GST on Expenses & Purchase of Services

• Gain a thorough understanding of GST implications on purchases of services.
• Learn to accurately record GST expenses and purchase of services in Tally Prime.
• Master the handling of debit notes without stock for GST purposes.

Topic 6: Cash & Bank Transactions

• Learn to record cash and bank transactions accurately, including payments and receipts.
• Understand the concept and recording of contra entries.

Topic 7: Journal Entries & GST Utilization

• Learn to record various journal entries accurately in Tally Prime.
• Understand the process of utilizing input tax credit (ITC) effectively.

Doubts Solving & Answer

This section includes detailed guidance on how the balance sheet will appear, incorporating data from all the chapter modules covered earlier.

By the end of this course, you will have a strong understanding of Tally Prime and its GST functionalities, enabling you to manage your business finances efficiently and ensure GST compliance.