Financial Accounting

Advanced Financial and Taxation Management using Tally Prime

Handle GST, TDS, and financial reporting with advanced Tally Prime functionalities.

Advanced Financial and Taxation Management using Tally Prime
Track Financial Accounting
Duration 30 hours
Skill Level Advanced
Language English

About this Course

Handle GST, TDS, and financial reporting with advanced Tally Prime functionalities.
Learning Mode: Learn at ALC or at Home

Detailed Course Curriculum

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

  • What is Payroll?
  • Payroll Salary Structure - Income and Deductions
  • Payroll Setup in Tally Prime
  • Payroll Master Creation - Group
  • Payroll Employee I Master Creation
  • Payroll Employee II Master Creation
  • Payroll Master Creation - Attendance
  • Payroll Master Creation - Production
  • Payroll pay heads creation - Earnings
  • Payroll Master Creation -Deductions
  • Defining Salary Structure
  • Payroll Voucher Types
  • Payroll Cycle in Tally
  • Payroll Attendance Vouchers
  • Payroll Processing Method - Instant or Accrual
  • Payroll Voucher - User Defined
  • Payroll Voucher - Salary
  • Payroll Payment Voucher - Salary
  • Statutory Payroll Payment Voucher
  • Payroll Process - New Employee
  • Payroll Process - Resigned Employee
  • Payroll Attendance Vouchers - May
  • Payroll Salary Voucher - May
  • Payroll Salary Increment
  • Payroll Salary Arrear Voucher
  • Payroll Attendance Voucher - July
  • Payroll Salary Voucher - July
  • Payroll Payment Voucher - July
  • Salary Slip or Pay slip
  • Pay Sheet and Attendance Sheet Report
  • Payment Advice Report
  • Payroll Statement
  • Employee Head Breakup
  • Pay Head Employee Breakup
  • Payroll and Attendance Register
  • Employee Profile
  • Employee Headcount
  • Expat Reports
  • What is GST?
  • Taxes Applicable Prior to GST
  • Component of GST
  • Taxes Subsumed under GST
  • Taxes Not Subsumed under GST
  • Intrastate GST Supply
  • Interstate GST Supply
  • Interstate Vs Intrastate GST Supply
  • Nil Rated Vs Zero Rated Supply
  • Standard GST Rates
  • GST Registration
  • GST Registration Dealer Types
  • Regular Dealer Vs Composite Dealers
  • All about Input Tax Credit
  • Working Mechanism of GST
  • Supplier Vs Seller
  • Buyer Vs Recipient
  • FCM Vs RCM
  • Type of GST Return
  • GST Configuration Page Information
  • Company Creation & GST Feature Activation - Single State
  • Multiple GST Registration Configuration
  • GST Master Creation - Debtors
  • GST Master Creation - Creditor
  • GST Master Creation - Purchase Accounts
  • GST Master Creation - Sales Accounts
  • GST Master Creation - Stock Items - Configuration
  • GST Master Creation - Stock Items - Creation
  • GST Master Creation - Income
  • GST Master Creation - Expenses
  • GST Ledger Creation - Common Ledger
  • GST Ledger Creation - Input & Output Method
  • GST Ledger Creation - GST Rate wise
  • GST Ledger Creation - Rate wise Input & Output Method
  • GST Ledger Classification
  • GST Utilities - GST Rate Setup
  • GST Utilities - Unit of Measurement
  • GST Utilities - Update Party GSTIN
  • Company Level – GST Details Setup
  • GST Company Data Setup
  • GST Intrastate Inward Supply - Goods
  • GST Intrastate Inward Supply - Master Setup
  • GST Intrastate Inward Supply - Transaction
  • GST Intrastate Inward Supply - Service - Setup
  • GST Intrastate Inward Supply - Service - Transaction
  • GST Intrastate Outward Supply - Goods - Setup
  • GST Intrastate Outward Supply - Goods - Transaction
  • GST Intrastate Outward Supply - Service - Setup
  • GST Interstate Outward Supply - Service - Transaction
  • GST Intrastate Inward Supply - Journal Voucher
  • GST Ledgerwise Report
  • GSTR1 Report Overview
  • GSTR3B Report Overview
  • Interstate Inward Supply - Goods - Case Study
  • Interstate Inward Supply - Goods - Party Ledger
  • Interstate Inward Supply - Goods - Stock Items
  • GST Interstate Inward Supply - Goods - Transaction
  • GST Interstate Inward Supply - Service - Setup
  • GST Interstate Inward Supply - Service - Transaction
  • GST Interstate Outward Supply - Goods - Setup
  • GST Interstate Outward Supply - Goods - Transaction
  • GST Interstate Outward Supply - Service - Setup
  • GST Interstate Outward Supply - Service - Transaction
  • Export Invoice with Payment of IGST - Setup
  • Export Invoice with Payment of IGST - Transaction
  • GST Export Invoice - Goods - Without Payment of IGST
  • GST Ledgerwise Report
  • GSTR1 Report Overview
  • GSTR3B Report Overview
  • What is RCM under GST?
  • Intrastate Reverse Charge Mechanism - Setup
  • Intrastate Reverse Charge Mechanism - Transaction
  • Interstate Reverse Charge Mechanism - Setup
  • Interstate Reverse Charge Mechanism - Transaction
  • RCM Liability & ITC Reports
  • RCM Liability & ITC Booking
  • Eligible & In-Eligible Input Tax Credit
  • In-Eligible Input Tax Credit Setup
  • In-Eligible Input Tax Credit Transaction
  • Multiple GST Rate Transaction
  • Input Tax Credit Set-Off Rule
  • Input Tax Credit Adjustment Transaction
  • Input Tax Credit Adjustment Transaction - Continue
  • GST Liability Payment
  • Introduction of TDS Compliance
  • TDS Feature Activation in Tally Prime
  • TDS Master Setup - Nature of Payment
  • TDS Master Setup - Party Master
  • TDS Master Setup - Expense Ledger
  • TDS Master Setup - TDS Ledger
  • TDS Transaction - I (JV)
  • TDS Transaction - II (Purchase)
  • TDS Transaction - III (Advance)
  • Expenses Booking against Advance Payment
  • TDS Liabilities Payment
  • TDS Report
  • Knowledge Checks - 30
  • Description of Case Study
  • Company Creation and Feature Activation (Multi Branch)
  • Inward Transaction - Inventory (GST) - Branch 1
  • Inward Transaction - Inventory (GST) - Branch 2
  • Inward Transaction - Service (GST + TDS) - Branch 1
  • Outward Transaction - (Inventory) - Branch 1
  • Outward Transaction - (Inventory) - Branch 2
  • Outward Transaction - (Service) - Branch 1
  • Outward Transaction - (Service) - Branch 2
  • GST Liability Payment - Branch
  • TDS Liability Payment
  • GST Report
  • TDS Report
  • Year End Transactions Summary
  • Depreciation on Fixed Assets
  • Sales of Fixed Assets
  • What is Provision of Expenses?
  • Provision of Expenses Transaction
  • What are Prepaid Expenses?
  • Prepaid Expenses Transaction
  • Deferred, Billed and Unbilled Revenue
  • Recording of Expenses
  • Bad Debts (Debtor)
  • Balance Write off (Creditor)
  • Cash and Bank Ledger overview
  • Account Ledger Report (Balance Sheet)
  • Account Ledger Report (Profit and Loss)
  • Group Voucher and Group Summary
  • Contra Register
  • Payment Register
  • Receipt Register
  • Sales Register
  • Purchase Register
  • Journal Register
  • Debit and Credit Note Register
  • Voucher Clarification
  • Statistics Report
  • Exception Reports I
  • Exception Reports II
  • Ratio Analysis
  • Stock Item Report
  • Godown Report
  • Stock Group and Category Summary
  • Stock Query Report
  • Sales Order Register
  • Purchase Order Register
  • Movement Analysis
  • Ageing Analysis
  • Cost Estimation
  • Shortcut Keys in Tally Prime I
  • Shortcut Keys in Tally Prime II
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!

Ready to start Advanced Financial and Taxation Management using Tally Prime?

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MKCL Certified Program

Admissions Open 2026

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Course Overview
  • Duration: 30 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 setup and processing of payroll in Tally Prime including the creation of payroll masters and transactions
  • Paraphrase the components of GST and differentiate between FCM and RCM taxation mechanisms within Tally Prime
  • Estimate the GST liabilities and input tax credit adjustments using Tally Prime for various intrastate and interstate transactions
  • Illustrate the implementation of statutory payroll requirements such as deductions and salary structures, using Tally Prime
  • Defend the importance of TDS compliance and demonstrate the process of TDS feature activation and liabilities payment in Tally Prime
  • Compare different types of GST returns and reports available in Tally Prime such as GSTR1 and GSTR3B, for accurate tax filing
  • Review the year-end audit transactions and provisions for expenses using Tally Prime to ensure financial accuracy and compliance
  • Rewrite transactions related to prepaid expenses bad debts and balance write-offs in Tally Prime for proper accounting treatment
  • Construct multi-branch company setups in Tally Prime and manage inward and outward transactions across branches efficiently
  • Estimate the cost of inventory using Tally Prime and apply shortcut keys for quick navigation and data entry
  • Recognize the importance of Tally Prime reports for financial analysis, including balance sheets, profit and loss statements, and ratio analysis
  • Combine inventory reports and cost estimation techniques in Tally Prime to optimize inventory management and control
  • Solve accounting challenges in Tally Prime related to voucher clarification, exception reports, and data verification for accuracy
  • Predict future financial trends and requirements based on Tally Prime data analysis and formulate strategies for financial management and growth
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