Podcast
Questions and Answers
What is the nature of ledger details?
What is the nature of ledger details?
Which type of voucher in Tally is used for cash and bank transactions together?
Which type of voucher in Tally is used for cash and bank transactions together?
Where can you check the list of created ledgers in Tally?
Where can you check the list of created ledgers in Tally?
What does 'Bank o/d' stand for?
What does 'Bank o/d' stand for?
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In the context of ledger creation, what does 'Alias' refer to?
In the context of ledger creation, what does 'Alias' refer to?
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Which group do duties and taxes, except income tax, fall under?
Which group do duties and taxes, except income tax, fall under?
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What are assets intended for sale for long periods known as?
What are assets intended for sale for long periods known as?
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What do current liabilities represent?
What do current liabilities represent?
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"Sundry debtor" is also known as:
"Sundry debtor" is also known as:
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What is the purpose of creating a provision in accounting?
What is the purpose of creating a provision in accounting?
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What is the shortcut to open Tally Prime?
What is the shortcut to open Tally Prime?
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Which mode should be selected for student work in Tally Prime?
Which mode should be selected for student work in Tally Prime?
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What is the shortcut to create a new company in Tally Prime?
What is the shortcut to create a new company in Tally Prime?
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How can you close a company in Tally Prime?
How can you close a company in Tally Prime?
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What is the shortcut to open a company in Tally Prime?
What is the shortcut to open a company in Tally Prime?
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In Tally Prime, which option is used to change the details of a company?
In Tally Prime, which option is used to change the details of a company?
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Study Notes
Ledger Details
- Ledger details provide a comprehensive record of financial transactions related to a particular account or group of accounts.
Voucher Types
- A Payment Voucher in Tally is used for cash and bank transactions together.
Ledger Management
- The list of created ledgers in Tally can be checked under the List of Ledgers option.
Accounting Terms
- 'Bank o/d' stands for Bank Overdraft.
Ledger Creation
- In the context of ledger creation, an 'Alias' refers to an alternative name given to a ledger.
Grouping of Accounts
- Duties and taxes, except income tax, fall under the Current Liabilities group.
Asset Classification
- Assets intended for sale for long periods are known as Fixed Assets.
Liability Classification
- Current liabilities represent short-term debts or obligations that are expected to be paid within a year.
Sundry Debtors
- A "Sundry Debtor" is also known as a Trade Debtor or Account Receivable.
Provision in Accounting
- The purpose of creating a provision in accounting is to set aside a portion of the company's profits to prepare for a potential liability or expense.
Tally Prime Shortcuts
- The shortcut to open Tally Prime is Ctrl + Alt + T.
- The shortcut to create a new company in Tally Prime is Ctrl + Alt + N.
- The shortcut to open a company in Tally Prime is Ctrl + Alt + O.
Tally Prime Operations
- To close a company in Tally Prime, go to the Company Info screen and click on the Exit button.
- To change the details of a company in Tally Prime, use the Alter option.
- The Education mode should be selected for student work in Tally Prime.
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Description
Learn how to open Tally Prime and choose different modes such as education mode and network license mode. Explore the process for creating a new company in Tally Prime.
