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.