Financial Accounting

Maintenance of Information in Books of Accounts

Learn systematic methods of recording, classifying, and summarizing business transactions.

Maintenance of Information in Books of Accounts
Track Financial Accounting
Duration 30 hours
Skill Level Beginner
Language English

About this Course

Learn systematic methods of recording, classifying, and summarizing business transactions.
Learning Mode: Learn at ALC or at Home

Detailed Course Curriculum

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

  • Objectives
  • What is Banking Feature in Tally?
  • Mode of Banking Transactions?
  • Bank Ledger Setup - Current Account
  • Bank Ledger Setup - OD Account
  • Receipt Transaction Single Party
  • Receipt Transaction Multi Party
  • Payment Transaction Single Party
  • Payment Transaction Multi Party
  • Inter Company Fund Transfer
  • Objectives
  • Cash Purchase (via Bank Account)
  • Cash Sales (via Bank Account)
  • Income Receipt Transaction
  • Expense Payment Transaction
  • Cheque Prnting Configuration
  • Cheque Prnting from Voucher
  • Cheque Printing Reports
  • Payment Advice - Single Transaction
  • Payment Advice - Multiple Transaction
  • Objectives
  • Cheque Register Report
  • Cheque Register Alter Status
  • Cash Deposit Slip
  • Cheque Deposit Slips
  • Post Dated Transaction
  • Post Dated Summarry
  • Bank Reconcilation Preview
  • Bank Reconcilation Process
  • Objectives
  • Banking Case Study Description
  • Case Study Data Setup
  • Banking Master Setup
  • Multi-Mode Receipt Transaction
  • Multi-Mode Payment Transaction
  • Cash Deposit Slips
  • Payment Advice
  • Post Dated Transaction
  • Cheque Printing
  • Cheque Register
  • Bank Reconciliation Statement
  • Objectives
  • What is Multi Currency Feature in Tally Prime?
  • Multi-Currency Concept - ROE, FEF Realised & Unrealised
  • Company Creation with base Currency
  • Multi-Currency Creation/Alteration
  • Export Invoice - Inventory
  • Export Invoice - Service
  • Import Invoice - Inventory
  • Import Invoice - Service
  • Objectives
  • Unadjusted Gain or Loss (FEF) Report
  • Payment against Import Invoice
  • Forex Exchange Gain or Loss Ledger & Voucher Configuration
  • Forex Gain or Loss on Import - Full Payment
  • Forex Gain or Loss on Import - Part Payment
  • Receipt against Export Invoice
  • Objectives
  • Forex Gain or Loss on Export - Part Payment
  • Forex Gain or Loss on Export - Full Payment
  • Forex Gain or Loss on Advance Payment
  • Forex Gain or loss on unrealised invoice (Year End)
  • Bank Charges on Receipt
  • Subsequent Year Export Invoice
  • Objectives
  • Subsequent Year Receipt
  • Subsequent Year Transaction - Import Purchase
  • Subsequent Year Transaction - Closing ROE
  • Subsequent Year Transaction - Payment Voucher
  • Forex Gain or Loss Reports
  • Do’s & Don’ts’s while working with Multi Currency
  • Objectives
  • Multi-Currency Case Study Description
  • Multi-Currency Case Study Data Setup
  • Multi-Currency Setup
  • Import of Assets
  • Advance Receipt
  • Export of Goods
  • FEF on Advance Receipt
  • Payment against Import
  • FEF on Import Payment
  • Closing ROE - Revaluation
  • Receipt against Export
  • FEF on Export Receipt
  • Objectives
  • What is Purchase Order?
  • Purchase Order Cycle in Tally Prime?
  • Purchase Order Feature - Company Creation
  • Purchase Order Feature - Voucher Setup
  • Purchase Order Voucher Configuration
  • Purchase Order Voucher No 1
  • Purchase Order Voucher No 2
  • Receipt Note Voucher No 1
  • Receipt Note Voucher No 2
  • Objectives
  • Purchase Invoice No 1
  • Purchase Invoice No 2
  • Payment against Purchase
  • Purchase Order Report
  • Purchase Order Voucher No 1
  • Purchase Order Voucher No 2
  • Objectives
  • Receipt Note Voucher No 1
  • Receipt Note Voucher No 2
  • Pre-closure of Purchase Order
  • Rejection Out Voucher
  • Purchase Invoice against PO No 1
  • Purchase Invoice against PO No 2
  • Debit Note against Purchase Invoice
  • Payment Entry against Purchase Invoice
  • Purchase Order Report
  • Objectives
  • Case Study Description - PO
  • Case Study Data Setup - PO
  • Purchase Order Voucher 1
  • Purchase Order Voucher 2
  • Receipt Note against Purchase Order
  • Rejection Out against Receipt Note
  • Pre Closure of Order
  • Purchase Invoice against Receipt Note
  • Debit Note against Purchase Invoice
  • Purchase Order Report
  • Objectives
  • What is Sales Order?
  • Sales Order Cycle in Tally Prime
  • Sales Order Feature - Company Creation
  • Sales Order Feature - Voucher Activation
  • Sales Order 1 (Buyer 1)
  • Sales Order 2 (Buyer 2)
  • Delivery Note 1 (Buyer 1)
  • Delivery Note 2 (Buyer 2)
  • Objectives
  • Sales Invoice 1 (Buyer 1)
  • Sales Invoice 2 (Buyer 2)
  • Receipt against sales invoice
  • Sales Order Report
  • Sales Order Voucher No 1
  • Sales Order Voucher No 2
  • Objectives
  • Deliver Note Voucher No 1
  • Deliver Note Voucher No 2
  • Pre Closure of Sales Order
  • Rejection In Voucher
  • Sales Invoice against SO 1
  • Sales Invoice against SO 2
  • Credit Note
  • Sales Order Report
  • Objectives
  • Case Study Description SO
  • Case Study Data Setup Sales Order
  • Sales Order Voucher 1
  • Sales Order Voucher 2
  • Delivery Challans against Sales Order
  • Rejection In against Delivery Challan
  • Pre Closure of Sales Order
  • Sales Invoice against Delivery Challans
  • Credit Note against Sales Invoice
  • Sales Order Report in Tally
  • Objectives
  • What is Inventory Valuation?
  • Stock Item Master Setup
  • Sales & Purchase of Material
  • Average Costing Method Introduction
  • Average Costing Method in Tally
  • FIFO Method Introduction
  • FIFO Method in Tally
  • LIFO Method Introduction
  • LIFO Method in Tally
  • Standard Costing Introduction
  • Standard Costing in Tally
  • Last Purchase Cost Introduction
  • Last Purchase Cost in Tally
  • At Zero Cost Introduction
  • At Zero Cost in Tally
  • Objectives
  • Company Creation with Foreign Currency
  • Godown and Voucher Setup
  • Master Setup with Opening Balance
  • Sales Order Voucher
  • Import Purchase Order
  • Advance Payment against PO
  • Other Accounting Transactions
  • Import Purchase
  • Delivery Challan
  • Rejection In Voucher
  • Sales against Delivery
  • Payment & Receipt
  • Forex Gain or Loss Report
  • Objectives
  • What is Batchwise?
  • Batchwise Company Data Setup
  • Batchwise Godown Setup
  • Opening Inventory Master Information
  • Opening Inventory Master Creation
  • Purchase Voucher 1 - Batch wise
  • Stock Transfer
  • Sales Transaction 1
  • Batchwise Inventory Reports
  • Objectives
  • Company Creation with Batch wise Feature
  • Company Data Configurations
  • Inventory Opening Master Information
  • Inventory Opening Master Creation
  • Batchwise Purchase Transaction 1
  • Batchwise Sales Transaction 1
  • Stock Transfer - Inter Godown
  • Expired Batches
  • Objectives
  • What is Manufacturing?
  • What is Bill of Material?
  • Feature Activation & Setup in Tally Prime
  • Inventory Master Creation - Component Materials
  • Inventory Creation with single BOM
  • Inventory Creation with Multiple BOM
  • Component Material - Purchase Order
  • Objectives
  • Purchase Invoice against PO 1
  • Purchase Invoice against PO 2
  • Stock Transfer - Default Voucher
  • Stock Transfer - Voucher Class
  • Inventory Reports
  • Sales Order Voucher
  • Manufacturing Process - Default Voucher
  • Objectives
  • Manufacturing Journal Voucher
  • Manufacturing Process - with Scrap
  • Manufacturing Journal Voucher – Additional Cost
  • Stock Transfer Voucher Class
  • Stock Consumption - Damaged Product
  • Sales Invoice against Sales Order
  • Inventory Reports - Stock Summary
  • Inventory Reports - Inventory Books
  • Objectives
  • Case Study – Data Configuration
  • Manufacturing Process Setup
  • BOM– Semi Finished Goods Example
  • BOM– Semi Finished Goods Setup
  • BOM– Finished Goods
  • Opening Inventory Balance
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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MKCL Certified Program

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Course Overview
  • Duration: 30 hours
  • Track: Financial Accounting
  • Skill Level: Beginner
  • 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:
  • Execute a wide range of banking transactions (receipts, payments, contra, and post-dated) using Tally Prime and generate banking reports such as cheque registers and reconciliation statements.
  • Manage international business operations using multi-currency features including exchange rate adjustments and forex gain/loss accounting.
  • Track and process purchase and sales orders with related transactions such as invoice creation, returns, pre-closures, and outstanding reports.
  • Maintain cost-effective inventory systems using various stock valuation methods (FIFO, LIFO, standard cost, etc.) and batch-wise tracking mechanisms.
  • Integrate and automate manufacturing workflows with Tally’s Bill of Material (BOM), stock transfers, scrap accounting, and journal entries.
  • Apply financial data analysis to solve real-world scenarios through business case studies covering procurement, sales, and production cycles.
  • Ensure data integrity through proper setup of company masters, voucher configurations, and document-based audit trails.
  • Present complete and accurate financial records that support business decision-making and ensure operational accountability.
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