Financial Accounting

Fundamentals of Accounting and Introduction to Tally Software

Understand core accounting concepts and get introduced to using Tally for business accounting.

Fundamentals of Accounting and Introduction to Tally Software
Track Financial Accounting
Duration 30 hours
Skill Level Foundation
Language English

About this Course

Understand core accounting concepts and get introduced to using Tally for business accounting.
Learning Mode: Learn at ALC or at Home

Detailed Course Curriculum

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

  • Definition & Utility of Accounting
  • Introduction to Accounting
  • Method of Accounting
  • Financial Accounting Concept
  • Basic Books of Accounts
  • Recording Financial Transactions
  • Manual Accounting System
  • Financial Reports under Accounting
  • History of Tally
  • Importance of Tally in accounting
  • Tally ERP 9 Vs Tally Prime
  • Tally Prime Setup - Download
  • Tally Prime Setup - Installation
  • Tally License Information
  • Tally Prime Interface - Select Company
  • Tally Prime Interface - Manage Options - Other Buttons
  • Tally Prime Interface - Manage Options - F1 Help Button
  • Company Creation in Tally Prime - I
  • Company Creation in Tally Prime - II
  • Company Feature in Tally Prime - Accounting Feature
  • Company Feature in Tally Prime - Inventory Feature
  • Company Feature in Tally Prime - Taxation & Other Feature
  • Gateway of Tally Introduction - Menu Options - I
  • Gateway of Tally Introduction - Menu Options - II
  • Gateway of Tally Introduction - Main Screen - I
  • Gateway of Tally Introduction - Main Screen - II
  • Accounting Group Introduction
  • Accounting Group & Sub Group Creation I
  • Accounting Group & Sub Group Creation II
  • Accounting Group & Sub Group Alteration/Deletion
  • Accounting Ledger Introduction
  • Accounting Ledger Creation - I
  • Accounting Ledger Creation - II
  • Accounting Ledger Creation - III
  • Accounting Ledger Alteration/Deletion
  • Stock Group Introduction
  • Stock Group Creation
  • Stock Group Alteration / Deletion
  • Stock Category Introduction
  • Stock Category Creation
  • Stock Category Alteration / Deletion
  • Unit of Measurement Introduction
  • Unit of Measurement Creation - Simple & Compound
  • Unit of Measurement Alteration/Deletion
  • Godown Introduction
  • Godown Vs Location
  • Godown and Location Creation
  • Godown Location, Alteration/Deletion
  • Stock Item Introduction
  • Stock Item Creation
  • Stock Item Alteration/Deletion
  • Voucher Types in Tally Introduction
  • Voucher Types Creation/Alteration in Tally Prime
  • Chart of Accounts in Tally Prime
  • Chart of Accounts - Accounting Groups
  • Chart of Accounts - Accounting Ledgers
  • Chart of Accounts - Voucher Types
  • Chart of Accounts - Inventory Masters
  • Multi Accounting Master - Introduction
  • Multi Accounting Master - Creation
  • Multi Accounting Master Alteration
  • Multi Inventory Master - Introduction
  • Multi Inventory Master - Creation
  • Multi Inventory Master Alteration
  • Preview of Trial Balance with Master Opening
  • Preview of Profit & Loss Statement
  • Preview of Balance Sheet with Master Opening
  • Treatment of Opening Balance Difference
  • Basic Accounting Vouchers used for business Transaction
  • Receipt Transaction in Tally Prime - Configuration
  • Receipt Transaction in Tally Prime - Booking
  • Receipt Transaction in Tally Prime - Cash Receipt
  • Receipt Transaction in Tally Prime - Bank Receipt
  • Payment Transaction in Tally Prime - Configuration
  • Payment Transaction in Tally Prime - Booking
  • Payment Transaction - Petty Cash Expenses
  • Payment Transaction - Online Payment
  • Payment Voucher
  • Receipt Voucher
  • Contra Voucher Configuration
  • Contra Voucher - Cash Deposit
  • Contra Voucher - Interbank Transfer
  • Receipt Voucher as Contra Voucher
  • Payment Voucher as Contra Voucher
  • Journal Voucher - Depreciation
  • Journal Voucher - Other transaction
  • Cash Bank Books and Trial Balance Reports
  • Cash Purchase Transaction - Configuration
  • Cash Purchase Transaction - Account Invoice
  • Cash Purchase Transaction - Voucher Format
  • Credit Purchase Transaction - Account Invoice
  • Credit Purchase Transaction - Voucher Format
  • Cash Sales Transaction - Configuration
  • Cash Sales Transaction - Account Invoice
  • Credit Sales Transaction - Account Invoice
  • Credit Sales Transaction - Voucher Format
  • Inventory Cash Purchase - Configuration
  • Inventory Cash Purchase - Transaction
  • Inventory Credit Purchase
  • Inventory Credit Purchase with Delivery Charges
  • Inventory Cash Sales - Bank Account
  • Inventory Cash Sales - Cash Ledger
  • Inventory Credit Sales
  • Inventory Credit Sales with Delivery Charges
  • Debit Note Voucher
  • Credit Note Voucher
  • Stock Journal - Material Transfer
  • Stock Journal - Material Consumption
  • Physical Stock
  • Memorandum Voucher
  • Optional Voucher Configuration
  • Optional Voucher Performa Invoice
  • Financial Statements
  • Accessing Trial Balance Report
  • Working with Trial Balance in Tally
  • Accessing Profit & Loss Account Report
  • Working with Profit and Loss Report in Tally
  • Accessing Balance Sheet Report
  • Working with Balance Sheet Report in Tally
  • Accessing Stock Summary Report
  • Working with Stock Summary Report
  • Cash & Funds Flow Statements
  • Day book & Trial Balance Report
  • Cancellation, Alteration and Deletion of Vouchers
  • Addition & Insertion of Transaction in Tally Prime
  • Printing & Exporting Vouchers
  • Columnar Sales Register
  • Columnar Purchase Register
  • Cash & Bank Books in Tally Prime
  • Edit Log in Tally Prime
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: 30 hours
  • Track: Financial Accounting
  • Skill Level: Foundation
  • 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 key concepts and significance of accounting in the business context to understand its foundational importance
  • Illustrate different accounting methodologies and their relevance to financial accuracy and compliance
  • Paraphrase the steps involved in organizing basic books of accounts and the process for recording financial transactions
  • Demonstrate proficiency in using Tally Prime for accounting tasks showcasing effective setup and navigation skills
  • Compare the features and functionalities of Tally ERP 9 and Tally Prime to identify improvements and enhancements
  • Construct company profiles within Tally Prime incorporating essential accounting, inventory, and taxation details
  • Report on the systematic approach to creating, managing, and analyzing company data within Tally Prime
  • Categorize various voucher types and chart of accounts in Tally Prime, establishing organized financial management practices
  • Predict financial outcomes and appraise business performance through advanced features in Tally for financial statement analysis
  • Utilize different types of accounting vouchers in Tally Prime, focusing on accurate receipt and payment transaction recording
  • Experiment with and apply advanced configurations for accounting and inventory vouchers in Tally Prime for detailed financial tracking
  • Differentiate and assess the implications of specialized voucher types, understanding their roles in complex accounting practices
  • Estimate and judge business performance and financial health by analyzing comprehensive financial statements within Tally Prime
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