Financial Accounting

Advanced Accounting Pro

Manage complex accounting tasks including taxation, compliance, and financial audits.

Advanced Accounting Pro
Track Financial Accounting
Duration 60 hours
Skill Level Advanced
Language English

About this Course

Manage complex accounting tasks including taxation, compliance, and financial audits.
Learning Mode: Learn at ALC or at Home

Detailed Course Curriculum

Hands-on module breakdown aligned with MKCL production standards and industry requirements.

  • Introduction to GST
  • GST Council in India
  • Structure and Types of GST
  • GST Nature of Supply
  • Place and Time of Supply under GST
  • GST Rates and Classification
  • Registration under GST
  • Input Tax Credit
  • Taxes Subsumed under GST
  • Products & Services excluded under GST
  • Documents & Vouchers under GST
  • GST Return & Compliance
  • Types of GST Registration
  • Criteria for GST Registration
  • Mandatory Criteria for GST Registration
  • Process of GST Registration
  • Amendment of GST Registration
  • Cancellation or surrender of GST Registration
  • GST Data Setup
  • GST Master Configuration – Party Master
  • GST Master Configuration – Inventory Master
  • Intrastate Inward Supply - Goods
  • Interstate Inward Supply - Goods
  • Debit Note against Inward Supply
  • Intrastate Outward Supply - Goods
  • Interstate Outward Supply - Goods
  • Credit Note against Outward Supply
  • GSTR1 & GSTR3B Return Report
  • What is E-Way Bill
  • Requirement of E-Way Bill
  • E-Way Bill Setup in Data
  • What is E-Invoice
  • Requirement of E-Invoice
  • E-Invoice Setup in Data
  • Goods Inward Supply with E-Way Bill
  • E Waybill & E Invoice Outward Transaction
  • E Waybill Report
  • E Invoice Report
  • What is E-Invoice
  • Requirement of E-Invoice
  • E-Invoice Setup in Data
  • E- Invoice Outward Supply - Service
  • Outward Supply with E-Way Bill & E-Invoice
  • E Invoice Report
  • Generating E Invoice from Tally
  • Cancellation of E-Invoice
  • Generating E Waybill from Tally
  • Cancellation of E-Way bill
  • Do’s and Don’ts under E-Way Bill & E-Invoice
  • What is Zero Rated Supply
  • Applicability of Taxes under Zero Rated
  • Zero Rated Supply Data Setup
  • Zero Rated Supply - SEZ Taxable
  • Zero Rated Supply - Exprt Taxable
  • Zero Rated Supply - SEZ Non-Taxable
  • Zero Rated Supply - Export Non-Taxable
  • Outward Supply to Other Territory
  • GSTR1 & GSTR3B Return Preview
  • Reverse Charge Mechanism (RCM) under GST
  • Applicability of Taxes under RCM
  • Criteria for RCM Tax Liability under GST
  • RCM Vs FCM
  • RCM Data Setup in Tally
  • RCM Expense Ledger Setup
  • RCM Inward Supply - Eligible Credit
  • RCM Liability & ITC - Eligible Credit
  • RCM Inward Supply - In-Eligible Credit
  • RCM Liability & ITC - In-Eligible Credit
  • Advance Payment under RCM
  • RCM Liability against Advance Payment
  • RCM Inward Supply against advance payment
  • Tax Adjustment against RCM Inward Supply
  • Payment of RCM Tax Liability
  • Purchase from URD - RCM
  • RCM liability on URD Purchase
  • RCM Advance Payment
  • Advance Payment Refund under RCM
  • RCM Outward Supply - Process
  • RCM Outward Supply Return Report
  • Import Transaction under GST
  • Applicability of GST under Import of Goods
  • Tally Data Setup for Import Transaction
  • Accounting Master Configuration for Import of Goods
  • Inventory Master Configuration for Import of Goods
  • Import of Goods Transaction - A
  • Import of Goods Transaction - B
  • Import of Goods - Related Report in Tally
  • Import of Service Transaction
  • RCM Liability & ITC on Import of Services
  • Payment of RCM liability on Import Service
  • GSTR3B Return Report – Import Transaction
  • Advance Receipt under GST
  • Advance Receipt – Data Setup in Tally
  • Advance Receipt Transaction 1
  • Advance Receipt Transaction 2
  • Tax Liability on Advance Receipt
  • Impact of Advance Receipt under GST Return
  • Advance Receipt Liability Payment
  • Sales against Advance Receipt
  • Adjustment of Advance Tax
  • Refund of Advance Receipt with Tax Adjustment
  • Payment of Net Tax Liability
  • What is GSTR1 Return?
  • Quarterly GSTR1 Return
  • Monthly GSTR1 Vs Quarterly GSTR1
  • Process to file GSTR1 Return from Tally
  • GSTR1 Return Report from Tally
  • Error & Rectification from GSTR1 Return
  • Reconciliation of GSTR1 data
  • Method of GSTR1 Return Filing
  • Preparation of GSTR1 using offline tool
  • Export of GSTR1 using JSON format
  • Upload of JSON file on GST Portal
  • Online GSTR1 Return Verification and Filing
  • GSTR1 Return Acknowledgement
  • What is an Input Tax Credit
  • Conditions to Claim ITC
  • Eligible & In Eligible ITC
  • ITC Setoff Rule with example
  • Inward Transaction - Eligible ITC
  • Inward Transaction - In Eligible ITC
  • Inward Transaction - RCM
  • ITC Reversal – On Account of Non-Payment
  • ITC Reversal – Other Cases
  • GST Ledger Balance Treatment
  • Input Tax Credit Matching & Purpose
  • ITC Reconciliation Process
  • Cases under ITC Reconciliation
  • Difference between GSTR2A & GSTR2B
  • GSTR2A vs GSTR2B Illustration
  • Downloading and understanding GSTR2B Report
  • Reconciling ITC with GSTR2B - I
  • Reconciling ITC with GSTR2B - II
  • ITC Classification based on GSTR2B reconciliation
  • GST Reconciliation in Tally
  • What is GSTR3B?
  • Process to file GSTR3B Return from Tally
  • GSTR3B Return in Tally I
  • GSTR3B Return in Tally II
  • Drafting GSTR3B Return from Tally
  • Computation of Tax Liability - GSTR3B Format
  • Computation of Tax Liability - GSTR3B Preparation
  • Computation of Tax Liability - ITC Adjustment
  • Uploading GSTR3B Return on portal I
  • Uploading GSTR3B Return on portal II
  • Payment of Tax Liability under GSTR3B
  • Filing Return & Acknowledgement
  • ITC Adjustment in Books
  • Payment of GST in Tally
  • Electronic Cash Ledger
  • Electronic Cash Ledger Statement
  • E-Cash Ledger PMT-09
  • What is E-Credit Ledger
  • E-Credit Ledger Statement
  • What is E-Liability Ledger
  • E-Liability Ledger Statement
  • GST Liability & ITC Comparison
  • GST Annual Return
  • GST Annual Return Overview
  • DRC-03 Challan
  • Application of Refund
  • Composition Scheme under GST
  • Data Setup - Composition
  • Party Ledger Master Setup - Composition
  • Income & Expense Master Setup - Composition
  • Duty Ledger Master Setup - Composition
  • Inventory Master Setup - Composition
  • Intrastate Inward Supply - Goods
  • Interstate Inward Supply - Goods
  • RCM Inward Supply - Service
  • Intrastate Outward Supply
  • GST Return Report - Composition
  • Payment of GST Liability
  • What is TCS?
  • Applicability of TCS
  • TDS Vs TCS
  • TCS Data Setup in Tally
  • TCS Nature of Goods
  • TCS Debtor Master Configuration
  • TCS Inventory Master Setup
  • TCS Duty Master Setup
  • TCS Outward Supply – B2B
  • TCS Outward Supply – B2C
  • TCS 27EQ Return Report
  • TCS Challan Payment
  • TCS Related Report
  • Case Study Data Setup
  • TDS Nature of Payment & TCS Nature of Goods Setup
  • Expense & Inventory Master Setup
  • GST, TDS & TCS Duty Master Setup
  • Intrastate Inward Supply - GST & TDS
  • Interstate Outward Supply - GST & TCS
  • TCS Return Report & Payment
  • TDS Return Report & Payment
  • GST ITC Adjustment
  • GST Return Report & Payment
  • What is multi branch GSTIN?
  • Data Setup with Multi GST Registration
  • Voucher Series for Multi GSTIN
  • GST Ledger Configuration for Multi GSTIN
  • Intrastate Inward Supply - MH
  • Interstate Inward Supply - RJ
  • Interstate Outward Supply - MH
  • Intrastate Outward Supply - RJ
  • GST Return Report for multi GSTIN
  • GST ITC Adjustment - Multi GSTIN
  • GST Liability Payment - Multi GSTIN
  • Case Study Data Setup
  • Statutory Opening Balances
  • Payment & Adjustment of Opening Statutory Balances
  • GST Slab Rate - Outward Supply
  • Inclusive GST Outward Supply
  • GST ITC on Remittance Charges
  • Supply Under Section 7 of IGST Act
  • Purchase from Composite Dealer
  • GST ITC Utilization
  • Liability Payment
  • Statutory Related Report in Tally
  • Price Level & Price List in Tally
  • Data Configuration Price Level
  • Price Level Setup
  • Inventory Master Setup
  • Defining Price List
  • Price Level Setup at Party Master
  • Outward Supply - Wholesale
  • Outward Supply - Retail
  • Outward Supply - Consumer
  • Overriding Price Level
  • Price List Report
  • Revision of Price List
  • Introduction & Objective of Session
  • What is Job Work in Order?
  • Job Work in Order Process in Tally
  • Job Work Data Setup in Tally
  • Job Work Master Setup
  • Job Work in Order
  • Material In Voucher
  • Material Transfer Voucher
  • Production Voucher
  • Material Out Voucher
  • Job Order Inventory Report
  • Job Work in Order Report
  • What is Job Work Out Order?
  • Job Work Out Order Process in Tally
  • Job Work Data Setup in Tally
  • Job Work Master Setup
  • Job Work Out Order
  • Material Out Voucher
  • Material In Voucher
  • Job Order Inventory Report
  • Job Work in Order Report
  • What is budget & Types of Budgets in Tally
  • Budget Creation & Data Setup
  • Accounting Group Budget
  • Accounting Ledger Budget
  • Cost Centre Budget
  • What is Scenario Management
  • Scenario Setup
  • Transaction under Budget & Scenario
  • Budget & Variance Report
  • Scenario Management Report
  • What is Job Costing
  • Job Costing Data Setup
  • Job Costing Master Setup
  • Creation of Job Costing
  • Job Costing Expense Transaction
  • Job Costing Income Transaction
  • Job Costing Other Transaction
  • Job Costing Report
  • Job Costing Related Report
  • What is Item Cost Tracking
  • Item Cost Tracking Data Setup
  • Item Cost Tracking Master Setup
  • Item Cost Tracking Purchase
  • Item Cost Tracking Expense
  • Stock Item Analysis Report
  • Movement Analysis Report
  • Stock Query Report
  • What is Re-Orde Level
  • Use & Benefits of Re-Order Level
  • Types of Re-Order Level in Tally
  • Re-Order Level Data Setup in Tally
  • Re-Order Level Master Configuration
  • Simple Re-Order Level Setup
  • Re-Order Level SO
  • Re-Order Level PO
  • Re-Order Level Purchase
  • Re-Order Level Sales
  • Re-Order Level Stock Consumption
  • Re-Order Level Report
  • What is MSME?
  • MSME Data Setup in Tally
  • MSME Ledger Master Setup
  • MSME Inward Transaction
  • MSME Outward Transaction
  • MSME Compliance Report
  • MSME Return Report in Tally
  • MSME Other Report in Tally
Eligibility Criteria
• Basic knowledge of computers and keen desire to build skills in this field.
• Open to students, job seekers, and working professionals.
Official Certification
• Official MKCL KLiC Certificate upon successful completion of the course and evaluations.
Work-Centric Learning Approach
• Step 1: Learners are given an overview of the course and its connection to life and work
• Step 2: Learners are exposed to the specific tool(s) used in the course through the various real-life applications of the tool(s).
• Step 3: Learners are acquainted with the careers and the hierarchy of roles they can perform at workplaces after attaining increasing levels of mastery over the tool(s).
• Step 4: Learners are acquainted with the architecture of the tool or tool map so as to appreciate various parts of the tool, their functions, utility and inter-relations.
• Step 5: Learners are exposed to simple application development methodology by using the tool at the beginner’s level.
• Step 6: Learners perform the differential skills related to the use of the tool to improve the given ready-made industry-standard outputs.
• Step 7: Learners are engaged in appreciation of real-life case studies developed by the experts.
• Step 8: Learners are encouraged to proceed from appreciation to imitation of the experts.
• Step 9: After the imitation experience, they are required to improve the expert’s outputs so that they proceed from mere imitation to emulation.
• Step 10: Emulation is taken a level further from working with differential skills towards the visualization and creation of a complete output according to the requirements provided. (Long Assignments)
• Step 11: Understanding the requirements, communicating one’s own thoughts and presenting are important skills required in facing an interview for securing a work order/job. For instilling these skills, learners are presented with various subject-specific technical as well as HR-oriented questions and encouraged to answer them.
• Step 12: Finally, they develop the integral skills involving optimal methods and best practices to produce useful outputs right from scratch, publish them in their ePortfolio and thereby proceed from emulation to self-expression, from self-expression to self-confidence and from self-confidence to self-reliance and self-esteem!

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Course Overview
  • Duration: 60 hours
  • Track: Financial Accounting
  • Skill Level: Advanced
  • Language: English
  • Mode: Learn at ALC or at Home
  • Certificate: Official MKCL
Key Course Highlights:
  • At the end of this course, learners will be able to:
  • Interpret the structure and types of GST in India and assess their impact on businesses
  • Illustrate the process of GST registration, including the criteria and required documents
  • Compare intrastate and interstate GST transactions and examine their differences
  • Interpret the significance of E-Way Bills and illustrate the steps for generating them in Tally
  • Create an E-Invoice setup in Tally and verify its application in outward supply transactions
  • Develop a process for managing zero-rated supply under GST, including LUT application
  • Assess the applicability of Reverse Charge Mechanism (RCM) under GST and compare it with Forward Charge Mechanism (FCM)
  • Review special cases in RCM, such as advance payments, and appraise their tax implications
  • Design the import transaction process under GST, including data setup and RCM liability
  • Prepare and modify advance receipt transactions under GST and assess their impact on tax liability
  • Create and manage GSTR1 returns in Tally, including error rectification and reconciliation
  • Interpret the conditions for claiming Input Tax Credit (ITC) and evaluate eligible and ineligible ITC scenarios
  • Develop a process for ITC matching and reconciliation using GSTR2A and GSTR2B reports
  • Formulate the steps for GSTR3B preparation and filing in Tally, including tax liability computation and ITC adjustment
  • Interpret the process of managing Electronic Cash Ledger and E-Cash Ledger Statements
  • Illustrate the setup and use of E-Credit Ledger and E-Liability Ledger in GST compliance
  • Review the steps involved in GST Liability and ITC comparison for accurate financial reporting
  • Examine the composition scheme under GST and its application for composite dealers
  • Assess the setup of Party Ledger, Income & Expense Master, and Duty Ledger for composite dealers
  • Compare TDS and TCS, and appraise their applicability in different scenarios
  • Design the setup of TCS-related configurations in Tally, including debtor and inventory masters
  • Verify the GST, TDS, and TCS return processes through case study analysis and reporting
  • Develop a multi-branch GST management strategy by configuring multiple GSTINs in Tally
  • Construct scenarios for managing advanced GST cases, including statutory balances and slab rates
  • Modify and prepare price levels in Tally for different types of outward supplies and analyze price lists
  • Create and manage Job Work in Order and Out Order processes in Tally, including material handling
  • Formulate budget and scenario management strategies in Tally, including variance reporting
  • Develop and appraise job costing and item cost tracking processes to enhance financial accuracy
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