Question

Explain any five applications of computerized accounting system.

Answer 1

Application of accounting software – Tally

1. Starting Tally:
   Tally can be started in either of the ways given below:
   Click on Start > All programs . Tally.ERP 9 > Tally.ERP 9 icon
   (Or)
   Click Tally.ERP. 9 icon (shortcut) on the desktop
2. Creation of a company:
   It is essential to enter the particulars of the company for which accounts are to be maintained in Tally. In order to create a company, the following steps are to be followed:
   Company Info>Create Company
3. Gateway of Tally:
   After creation of a company and whenever Tally is started a screen Gateway of Tally appears. It shows the company selected under List of Selected Companies on the left pane.
   Gateway of Tally is shown on the right pane which contains menu options such as Transactions and Reports. The shortcut key for each menu option is a letter from the option’s name, which will be highlighted in red.
   A vertical button bar is placed on the extreme right of the screen which contains buttons such as F1 and F2 for quick interaction with Tally.ERP 9.
   The bottom horizontal information panel displays details of product, version, licence, configuration and calculator.
4. Closing Tally:
   The following are the two ways for closing Tally:
   Press Esc Key > Press Enter or Y or Click on yes
   (or)
   Press Ctrl + Q
5. Select a company:
   If multiple companies are created, to choose a particular company, after opening Tally, click F1 (Select Cmp) on the vertical button bar. Tally.ERP 9 displays the Select Company screen, with a list of companies that are already created. Select the company for which accounting has to be done.